Wärtsilä Aquarius UV gains USCG type approval The U.S. Coast Guard Marine Safety Center has issued the 18th U.S. Coast Guard Ballast Water Management System Type Approval Certificate to Wärtsilä for its Aquarius UV (Ultra-Violet) BWMS. After a detailed
Huntington Ingalls has $41 billion backlog Huntington Ingalls Industries (NYSE: HII) reported first quarter 2019 revenues of $2.1 billion, up 11.0 percent from the first quarter of 2018. The increase was driven primarily by higher volume at HII's
Senator wants "Buy American" provision in Small Shipyard Grants U.S. Senator Tammy Baldwin (D.Wis.) today introduced the bipartisan Strengthening Buy America for Small Shipyard Grants Act. It aims to strengthen Buy American requirements for federal Small Shipyard Grant funding. The bill
Is green ammonia the miracle fuel shipping has been waiting for? Ammonia is already being seen as having a lot of promise as a marine fuel that can help world shipping meet IMO's target of a halving GHG emissions by 2050, As we
Hannes Norrgren named new CEO of Humphree Volvo Penta reports that Hannes Norrgren has been appointed the new CEO of Swedish marine technology provider Humphree, which specializes in trim and stabilization systems for boat control. Volvo Penta became Humphree's
White paper looks at IMO sulfur cap and cylinder lubricants "The use of one type of fuel oil by the majority of the global fleet accompanied by one type of lubricant will soon become a thing of the past," says a new
Kirby first quarter hit by record delay days America's largest tank barge operator, Kirby Corporation (NYSE: KEX), today reported first quarter net earnings of $44.3 million, or $0.74 per share, compared with earnings of $32.5 million, or $0.54 per share,
Ardmore sees boost for tankers from IMO 2020 effect 'On top of strong underlying demand growth, the transformation of global energy supply chains in response to IMO 2020 has...
Epic Gas chief vows to maintain autonomy from BW 'This is an investment that has been made by BW Group into Epic, in a similar way to which they...
Republicans say Trump won't waive Jones Act Jones Act restrictions often mean Puerto Rico and parts of the north east in the US are forced to source...
Scorpio Tankers bullish on long range tankers President Robert Bugbee said it is not unreasonable to see long range tankers at $50,000 per day, with medium range...
Sustainable ammonia production touted to power shipping A news study claims up to $6trn would have to be invested by 2050 to power just two vessel types...
V.Group and the art of management V.Group chairman John Pattullo's replacement of CEO Ian El-Mokadem with board director Graham Westgarth was so swift that the altered...
Shipping has a range of autonomous solutions However, higher levels of standardisation are required - something that many equipment manufacturers are reluctant to embrace because they want...
Seaspan boosted by high vessel utilisation A larger fleet and one-off gains pushed up revenues and earnings at boxship owner
Fire in the hold Dangerous goods continue to plague box shipping, and the whole supply chain must take responsibility
Risky waters offering new opportunities Stronger ships, better-trained crew and more specialised equipment are a necessity in conquering the Arctic's uncharted waters
Viewpoint: A shot in the foot If the expertise of Babcock, BAE Systems and Cammell Laird and the assemblage of skills in Rosyth are to be...
Saudi coastguard rescues distressed Iranian tanker Sabiti, meanwhile, is now sailing for the Suez Canal after reducing speed and spending time alongside Happiness I, its most...
The ILWU leads protests against transfer of Oakland's Howard Terminal to city's baseball team The port was closed for eight hours on Wednesday as part of an annual May Day agreement between the union...
Teekay Offshore lines up $100m refinancing for three FPSOs Teekay Offshore, which slipped into the red in the first quarter, has been earmarked for divestment by its parent group...
Bangladesh's second FSRU starts operations Excelerate also oversaw the fixed infrastructure components of the Summit LNG Terminal, which included a subsea plug, mooring system, and...
Singapore completes first commercial ship-to-ship LNG bunker transfer Sleipnir, the heavylift vessel that received the LNG bunker, is the first offshore construction vessel to be built with an...
CSA 2020 gets scrubber commitments from more than 20 ports Group says it met with port authorities around the world, who committed to permitting open-loop scrubber use
Scorpio: Tanker upswing will hit all segments Scorpio Tankers sees the impending product tanker boom brought on by IMO 2020 as a rising tide, lifting all its ship segments. On the New York-traded company's first quarter conference call Thursday, president Robert Bugbee said whether the tanker is an MR, LR1 or LR2, "they're all going to benefit from IMO. "There's no question," he said. Scorpio Tankers back in black in first quarter Scorpio
Capesize rates set to beat five-year highs, CTM says Rates for dry bulk shipping's largest asset class more than tripled last month.
Teekay changes up notes offer Teekay Corporation has lowered its note offering by $50m as it looks to push its debt maturities back. The New York-traded tanker and gas player announced it would offer $250m in 9.25% senior secured notes due November 2022, instead of the $200m due 2024, as announced 24 April. The notes, along with the $100m Teekay received from selling its stake in Teekay Offshore Tuesday, plus $160m in cash,
Exmar looking to refinance July-due bonds Exmar's Dutch subsidiary is hitting the road to try and refinance some bonds. The company announced Thursday that it is working with DNB Markets, Nordea and Pareto Securities to organize a series of meetings with fixed income investors starting next week. The meetings will be to drum up interest in refinancing bonds maturing in July. The gas carrier owner said an unsecured bond offering with up
Diana Shipping inks charter with Ausca Shipping Simeon Palios-led bulker player fixes panamax below market rate, according to Clarksons.
K Line leads Japanese corporate reforms in push to lift profit Influence of major shareholder Effissimo prompts K Line to prioritise share price and earnings improvement after a dismal season
Ex-ICBC shipping boss Yang leaves Beijing finance giant Leading ship financier Yang Changkun confirms he is quitting ICBC Financial Leasing for destinations unknown
Cohens heartened by LISCR's return to US Qualship list Brothers say US Coast Guard designation is not only measure of Liberian flag's quality, but is a prize that has been regained through inspector hires and technological investment
Lindblad Expeditions beats Wall Street consensus New York-based owner's bottom line benefits from tax perk.
Klaveness raising cash for more combination carriers Klaveness Combination Carriers (KCC) is to launch a private placement of its shares to raise cash to pay for up to two of its newbuilding options. The owner of combination carriers hopes to raise between NOK 200m and NOK 400m ($23m to $46m) in new equity by issuing new stock, which will be listed on the Oslo Stock Exchange by the end of May. The cash raised will fund the equity portion of up to
Wartsila snaps up electronics specialist SES Finnish technology group Wartsila has acquired a UK shipping electronics company. It said Ships Electronic Services (SES) specialises in navigation and communication electronics, installation, maintenance and repair services, mainly for commercial and leisure vessels. Turnover is '10m ($13m) and the company employs 47 staff. The enterprise value of the transaction is £3.2m. "Wartsila has a lon
ExxonMobil beats Qatar to secure shipyards' LNG offers Shipbuilders have submitted their offers to energy major ExxonMobil for a series of up to eight LNG carrier newbuildings ahead of Qatargas' huge LNG ship tender. ExxonMobil makes formal approach to shipyards for eight-unit LNG carrier order Initial bids are understood to have been filed during April for two firm vessels and up to six optional ships. The first vessel is required for delivery in
Details of Qatargas' bumper LNG tender start to emerge Delivery spread, number of firm vessels and yard engagement suggest business can easily be absorbed by the shipbuilding sector in the current climate
TradeWinds poll: have your say on mandatory slow-steaming Embed: The TradeWinds slow-steaming poll Heavyweight owners swing behind slow-steaming To slow-steam or not to slow-steam, that is the question for TradeWinds readers. Momentum has been building behind some form of speed limitation regulations for vessels at the IMO in a bid to reduce emissions - and raise rates. But is this a pain-free panacea for shipping's environmental problems, as its adv
Pangaea Logistics Solutions sees opportunity rise from dust of cooling towers Ed Coll-led bulker operator is continuing to pursue niche opportunities like windfarm storage even if its efforts remain largely undiscovered by broader investor base
Hyundai Heavy Industries posts unexpected profit South Korea's Hyundai Heavy Industries group (HHI) has surprised equities analysts by reporting a profitable first quarter. HHI reported a KRW 2.8bn ($2.4m) net profit for the first three months of 2019 - a big comeback compared to the loss of KRW 222.9bn recorded in the previous quarter. Shipbuilders finding ways to adapt to challenging market Hyundai Mipo Dockyard reveals ambitions for 2019
Scorpio Tankers back in black in first quarter New York-listed Scorpio Tankers has returned to profit after reducing costs in the first quarter. Scorpio Bulkers to hold onto sister stake Net earnings to 31 March were $14.47m, against a loss of $31.79m in 2018. Revenue grew to $195.83m from $156.44m. But it cut operating costs to $135.73m from $149.12m over the same period. This was due to charter hire expenses being slashed. So far in th
International Group's pooled claims could hit 10-year high 24 pool claims in excess of $10m each may signal end to low claims environment
Tim Turner takes Beazley's reins from Clive Washbourn Tim Turner is running Beazley's marine insurance department after taking over from well-known industry figure Clive Washbourn. The change at the top of the London-headquartered specialist insurer's marine department took place at the very end of last year, but there was no official media announcement. Beazley's 'control freak' earned freedom to eschew big names and set his own profitable strateg
US pursues $8m tax claim against supplier of cigarettes and alcohol to ships A tussle over taxes between the US government and a Port of Houston duty-free seller that provides cigarettes and alcohol to merchant ships has spilled over into bankruptcy court. The US Tobacco Tax and Trade Bureau is fighting to keep intact it's claim that Gulf Coast Maritime Supply owes more than $8m to the federal government, continuing a fight that stretches back nearly six years. The claim
Bertram Rickmers targets 40 ships in feeder segment Rickmers-led Asian Spirit Steamship Company poised for more orders after first feeder containerships are fixed at significant premium
Molslinjen must pay Danish state for delays Denmark's Molslinjen will have to compensate the government for poor customer satisfaction and delays on its Bornholm service. The total amount payable is EUR 1.5m ($1.7m), the ministry of transport said. A poor customer satisfaction survey cost it DKK 200,000, with the rest arising from lack of documentation submitted to the ministry for cancelled and delayed departures, as well as insufficient
KfW comes up with cash for Baltrader newbuildings Germany's KfW IPEX-Bank is providing financing for two new cement carriers ordered by domestic owner Baltrader. Baltrader orders dual-fuel cement carrier duo The EUR 15.7m ($17.58m) package is covered by a Chinese export credit guarantee from Sinosure. Fujian Southeast Shipyard in China will deliver the CemCoaster and CemClipper in 2020. They are designed to allow a future upgrade to dual-fuel
Tanker earnings rising at James Fisher UK marine group James Fisher has said trading so far this year is in line with expectations. But the London-listed owner said its product tankers and offshore oil division are trading "well ahead of last year." Fisher reveals Borealis tanker buy with more to come "With a good start to 2019, the board considers that the group's outlook for the year remains positive and that James Fisher continue
Seaspan banks $227m gain after charter switch US-listed containership owner Seaspan has banked $227m after re-chartering seven vessels. The company said the moves were made "during the normal course of business" and involved one of its top five customers. Seaspan eyes LNG shipping move with Cosco deal Seaspan puts $200m down on Swiber Holdings The modified arrangements meant that existing time charters for the seven ships continued until
Scientology cruiseship quarantined after measles case A cruiseship owned by the Church of Scientology has been quarantined in the Caribbean after a case of measles was found on board. Measles alert for passengers on Tallink ro-pax Pacifica hit by measles The Washington Post cited authorities in St Lucia as saying a case had been detected. A sergeant with the St Lucia Coast Guard told NBC that the vessel is the 9,800-gt Freewinds (built 1968). Me
NITC VLCC suffers loss of control off Saudi Arabia An Iranian VLCC has suffered engine failure and loss of control off Saudi Arabia. Saudi state media sources said authorities had received a distress call from NITC's 299,000-dwt Happiness I (built 2003) on Tuesday. US to spark VLCC demand as it chokes off Iranian oil exports It is carrying more than 1m barrels of fuel oil 70km off Jeddah. The crew of 26 includes 24 Iranians and two Bangladeshi
Subsea 7 confirms Toisa DSV purchase Norwegian owner and contractor Subsea 7 has confirmed it has acquired a diving support vessel (DSV) from Greece's bankrupt Toisa group. Brokers had reported the 131-loa Toisa Pegasus (built 2008) sold for $38.95m in January, Kristian Siem-backed Subsea 7 said the vessel has been renamed Seven Pegasus. Small is best as Toisa OSV buyers bag big discounts The company logged new awards and escalat
Sovcomflot completes first phase of Green Funnel tanker haul Russian shipowner Sovcomflot (SCF Group) has delivered its sixth dual-fuelled aframax tanker to the vessel's long-term charterer, Shell, as it moves on to the next phase of the company's Green Funnel newbuilding plan. Shell bunkers first Sovcomflot aframax with LNG Michael Samuel - great-grandson of Sir Marcus Samuel who founded Shell Transport & Trading Co in 1897 - was on hand to see the 114,0
BP sets time charter rate tone with Capital Gas LNG deal Energy major gives Greek owner its first break with charter but are other new LNG entrants also in the frame?
ExxonMobil snares another MR tanker newbuild quartet Major bumps up MR haul to eight, while owners jostle for specialised aframax vessels
British Marine and Klaveness clash in court over collision Mississippi River incident sparks four-way legal tug of war in the US and UK between owning, chartering and stevedoring interests
Trump vows to maintain LNG carrier restrictions US president Donald Trump has pledged not to weaken restrictions protecting domestic LNG carrier business to Puerto Rico and the North-east. USA Today reported that he promised a group of Republican lawmakers on Wednesday he would not waive the Jones Act to allow overseas ships to muscle in on the trade. Trade groups give Trump's Jones Act waiver idea thumbs down "The president gave his word,"
Bourbon takes five PSVs out of layup The OSV recovery has prompted French shipping giant Bourbon to bring a series of ships out of layup. It said the upturn in rates appears to have started in the first quarter. Five platform supply vessels (PSVs) have been reactivated to meet demand. Pareto finally offloads PSV trio 'Unique' ice-class Bourbon OSV fetches hot price It has also brought back an unspecified number of vessels in its
NAO reactivates last PSV as North Sea sector soars Emanuele Lauro-led Nordic American Offshore (NAO) has a full working fleet of platform supply vessels (PSVs) after bringing another two out of layup. NAO PSV out of winter layup for Apache deal Broker Westshore reported that Norwegian owner and contractor Subsea 7 has fixed a trio of NAO PSVs for two weeks of pipehaul duties in the North Sea. The deals come with 14 days of options. The contrac
Future set fair for shipyard survivor Penguin International Low profile Singapore firm set to benefit from diversification and improving offshore market, says analyst.
Pavilion claims Singapore STS LNG bunkering 'first' Norgas Carriers' Norgas Innovation deployed in operation to refuel heavy-lift vessel.
Wintermar starts new fiscal year with bigger loss Indonesian presidential elections dampened active in first quarter says offshore vessel operator.
Carrier alliances have grown but competition remains FMC commissioners told during a meeting Wednesday there is "ample capacity" and freight rates have decreased.
Cassidy: Trump to oppose Jones Act changes, waivers President Trump was reportedly considering granting Puerto Rico a waiver in the requirement that U.S.-flag vessels be used to transport LNG from the mainland to the island.
Importers share ways to mitigate duty risks Duty drawback programs and foreign-trade zones are two options, speakers said during a JAXPORT conference, but there are other ways to lower the financial obligation.
Executive Moves: Maersk, dexFreight, Air Partner, Crowley
GOP senators urge Trump to support IMO 2020
Elements for successful U.S. sanctions compliance
New York shipbroker settles U.S. sanctions violations
Crude falls back as US inventory build alleviates supply crunch concerns Oil futures settled lower Thursday as traders looked to book profits.
Clean tanker owners prepare fuel strategies ahead of IMO 2020 Clean tanker owner companies Ardmore Shipping and Scorpio Tankers discussed their bunkering plans ahead of the implementation of IMO 2020.
ARA fuel oil stocks up by 6% on closed arbitrage east: PJK Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp hub rose by 6%.
Shell Norco complex on solid footing for IMO 2020: official Shell Norco is prepared for new IMO 2020 regulations to start next year.
East-west HSFO arb expected to reopen for May on tighter Singapore Market participants in the Northwest European high sulfur fuel oil market see the arbitrage east reopening.
ICE May Singapore HSFO open interest up 23.89% to 13.76 mil mt Open interest for front-month May high sulfur fuel oil contracts traded on the Intercontinental Exchange rose.
FEATURE: Shipping industry split over slow-steaming proposal to cut GHG emissions The use of short-term solutions may hamper the industry's incentive to develop that technology, the UK Chamber of Shipping said.
Platts Dubai MOC volume hits multi-year highs as supply concerns dominate The Platts MOC last saw a higher volume of trades in a single day in 2015.
Onboard fuel compatibility testing rises as IMO 2020 nears: Parker Kittiwake It is crucial that these new fuels are managed effectively at all key stages of supply, Herring said.
Germany's Zeaborn enters tankers segment with CPO Tankers acquisition "The acquisition enables Zeaborn Ship Management to expand its service portfolio to the wet market for oil and product tankers," the company said.
Asian crude spreads strengthen on Venezuela, US sanctions deadline The intermonth spreads for Dubai also strengthened in mid-morning trade in Asia, helped by bullish sentiment for medium and heavy sour crude.
TRADER NOTE: Fuel oil trader Sebastien Kahmann joins Zenrock Commodities Kahmann worked with Gunvor over August 2017-December 2018.
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