Chicago scrap recycler launches river transport subsidiary Chicago headquartered scrap metal recycler B.L. Duke has launched a new wholly owned subsidiary, B.L. Duke River Transport. The new division will focus on stevedoring services with both indoor and outdoor storage.
VIDEO: Newport News lands 588-ton JFK island Digital technology marked the exact location where Huntington Ingalls Industries (NYSE:HII) landed the 588-ton island onto the flight deck of the aircraft carrier John F. Kennedy (CVN 79) during a ceremony held
Fast cat is test bed for new MTU and ZF monitoring system Rolls-Royce and ZF are developing a new electronic monitoring system for ships. The aim is to achieve maximum vessel availability, while keeping fuel consumption and CO2 emissions to a minimum. Called the
Chouest gets $11.7 million Navy contract mod Edison Chouest group member Alpha Marine Services LLC, Galliano, La., has been awarded an $11,710,536 contract modification to fund the first one-year option period for the charter hire of U.S.-flagged Maritime Support
Norled picks Westcon to build hydrogen powered car ferry Green ferry pioneer Norled has commissioned the Westcon shipyard in Ølen, Norway, to build two new ferries - one of which will be the world's first hydrogen fuel cell powered car ferry,
Hormuz blockade would mean $554bn hit to seaborne trade 'Loss of oil as an input will hurt the ability of companies in Asia to produce the goods that are...
International investors must weigh political risk A relatively predictable conclusion to election season in Asia was finished off by by a surprise change of prime minister...
Transpacific ocean freight rates fall to 48-week low China-US west coast rates have dipped under May 2018 levels once more and have slumped more than 20% since April
Ince brand name to live on The new brand represents the culmination of the business's strategy of acquisition and integration that will have grown revenues to...
Flex LNG lists in the US as first-quarter loss widens The Norway-based company is more bullish about prospects for the second half of the year
From 2020 to 2050: The immediate issues of future fuels 2020 is only the beginning of a long and difficult transition that will define shipping's future
ECA on the fjords The maritime industry that operates in the fjords will need to raise its game if it is to meet the...
Digital forwarders gaining traction Tech-enabled forwarders are a catalyst for change in the global forwarding market but questions remain over how much they will...
Eurogate Intermodal launches new Rotterdam-Germany rail links Eurogate Intermodal said the new services are in response to 'increasing cargo flows via the western ports and the associated...
Daily Briefing China open to scrubber exclusion zone extension | CSSC Shipping IPO overvalued? | Exclusive interview: Saskia Groen-in't-Woud
Third officer blamed for China bulker deaths Two of the 19 injured have left the hospital, while the remainder are in 'stable condition' as investigations continue
The Interview: Saskia Groen-in't-Woud Firmly fitting the Maersk mould, Damco Freight Forwarding chief executive Saskia Groen-in't-Woud explains how the newly formed company will fit...
Rizhao Port Jurong seeking $66m in Hong Kong IPO The joint venture between Rizhao Port Co Ltd and Jurong Port Group will offer 400m shares at a price between...
Vancouver port strike averted after last-minute talks Negotiations between the British Columbia Maritime Employers' Association and the International Longshore and Warehouse Union Canada began 18 months ago...
Floating regas projects face pushback in Australia Not everyone buys the idea that importing liquefied natural gas is a panacea to the woes brought about by high...
Global Ship Lease discloses loan deal for boxship buy Global Ship Lease is taking out a $37m loan to finance the acquisition of three Zeaborn boxships. The New York-listed Ian Webber-led owner disclosed the deal with Hellenic Bank after the close Friday, according to Securities and Exchange Commission filings. It will pay for a good chunk of the $48.5m swoop for a trio of 7,849-teu ships built 2004 announced 23 May. Then, the company said the new s
Judge asked to delay decision in Carnival pollution case Small group wants to be heard on proposed settlement to dismiss cruise major's probation for environmental wrongdoing.
D'Amico joint venture moves MR tanker A D'Amico International Shipping has announced a joint venture sold its sole tanker for $28.7m. Eco Tankers - in which d'Amico has a 33% stake split with Venice Shipping - disclosed the deal for the 49,990-dwt High Sun (built 2014) Friday. Paolo d'Amico watching product tanker period market as rates get 'interesting' The buyer was not disclosed. The transaction is expected to net Eco Tankers $1
Samos Steamship secures healthy rate for LR1 in Trafigura charter Greek owner Samos Steamship is fetching a strong rate for one of its LR1 tankers. European brokers said trader Trafigura has fixed its 79,000-dwt Epicurus (built 2017) for a year at $18,750 per day. The rate is well above Fearnleys $15,000-per-day assessment of a one-year LR1 charter. However, a market source told TradeWinds that figure was low compared to his outfit's one-year charter assessm
American Club fights back after North raid on key staff The American Club has quickly 'replaced key staff members who left its fixed premium business to join the rival North P&I Club. North P&I, which is based in Newcastle, north-east England, has taken on three personnel who have played an important part in the growth of the American Club's successful fixed premium venture Eagle Ocean Marine (EOM). American Club reports growth as renewal season clos
Wisdom Marine cashes in on early kamsarmax redelivery Taiwan's largest owner intends to pick up the pace of ship disposals after a steady series of newbuilding orders
Golden Ocean kick-starts share buybacks Golden Ocean has repurchased its third tranche of shares this week and the company's chief commercial officer has also added to his shareholding. Golden Ocean buys back as DNB Asset Management trims stake in bulker owner Golden Ocean strikes refinancing deal as dividend stays in place in first quarter The Oslo-listed bulker owner today purchased 50,000 shares at an average price of NOK 39.95 p
Koncar in talks to revive Kuwaiti order at Uljanik Croatian yard tycoon Danko Koncar is in talks to resurrect a cancelled Kuwaiti newbuilding at troubled Uljanik Group. The businessman is discussing a plan with Livestock Transport & Trading to revive a deal for a 13,700-dwt livestock carrier at the yard. Uljanik down to one client but talks continue Koncar, who owns compatriot shipbuilder Brodotrogir, would commit to building the ship with Ulja
Sempra Energy's Cameron LNG ships first cargo A first cargo has left Sempra Energy's Cameron LNG plant as the new US producer starts export operations. Sempra Energy prepares to fire up Cameron LNG plant The Mitsui & Co-controlled, 177,000-cbm LNG carrier newbuilding Marvel Crane came alongside at the plant this week with officials posting online that operations to load the vessel had got underway. This first cargo from the Louisiana-based
Cyprus stepping up efforts to overturn Turkish ban Cyprus is to step up efforts to remove "illegal" restrictions on its ships calling at Turkish ports. That was the message of Cypriot president Nicos Anastasiades at the thirtieth annual general meeting of the Cyprus Shipping Chamber. He said: "Our efforts to remove these anachronistic and illegal restrictions will be further intensified as they are a clear violation of international law," he add
VLCCs to receive windfalls from Trump's tariff on Mexico The tariff war may also boost tonne-miles for product, LPG and LNG carriers if Mexico retaliates.
East Timor signs Damen newbuilding deal The government of East Timor has agreed a newbuilding contract with Dutch group Damen for a new passenger/cargo vessel. The ship will cost EUR 18.6m ($20.75m) and will be delivered in 19 months to operate on the country's north coast. East Timor is paying about EUR 12.6m, with the German state contributing the rest. Construction will be carried out in Yichang, China, the Noticias Financieras da
Boskalis bags $126m of North Sea OSV deals Dutch owner Boskalis Subsea Services has revealed new North Sea OSV contracts worth more than £100m ($126m). The company said the deals "cement" its position in the sector and affirm its commitment to Aberdeen with more people and bigger premises. Boskalis loses appeal in OSV charter time-limit battle Contracts awarded over the last six months include work on the Total Tyra redevelopment projec
EMGS makes interim chief executive a permanent fixture Bjorn Petter Lindhom has been named as the permanent chief executive of Electromagnetic Geoservices (EMGS). Electromagnetic Geoservices wins another Barents Sea survey contract Equinor and EMGS sign lucrative North Sea data deal Lindhom stepped in as the offshore survey company's interim head on 1 December, after former boss Christiaan Vermeijden resigned for personal reasons. "The board of di
Urals woes create aframax tanker floating storage Glencore, Total and Vitol are said to be forced into using at least five aframax tankers as floating storage for contaminated Russian crude.
Olympic Subsea narrows its loss in first quarter Olympic Subsea has halved its net loss for the first quarter, compared to the same period last year, according to its latest financial report. Olympic Subsea fixes six-month deal with Siemens Olympic Subsea wins more time before it has to list The offshore support vessel owner posted a loss of NOK 27.4m ($3.1m) for the first three months, compared to a loss of NOK 52.7m during the same quarter
Reederei Harmstorf adds second managing director German manager Reederei Harmstorf has appointed Alexander Riecke as its second managing director. The Hamburg company said he will run the firm and sister operation Thomas Meier-Hedde & Co KG together with Thomas Meier-Hedde. Riecke has been with Harmstorf since 2010. Harmstorf sells last ship to MPCC MPCC adds Harmstorf trio for $32m He was given power of attorney at the company in February
K Line exits midsize LPG segment with sale to Navitranso K Line is about to exit the midsize segment for LPG carriers. The Japanese shipping giant is has sold 38,000-cbm Nordic River (built 2007) for $20.5m, TradeWinds is told. The move comes after TradeWinds reported last week that the company had sold the DSME-built sistership Viking River (built 2007) to Nikolaos Vafias for the same price. The Nordic River has reportedly gone to Naviera Transocea
Long-term boxship rates jump 11% Oslo-based rate benchmarking company Xeneta's XSI index has shown its biggest ever monthly rise in May. The jump in long-term contracted rates shows the effect of 2018 deals expiring and new contracts lifting levels, it said. Boxship capacity cuts likely after Trump tweets Transpacific freight rates battered by US-China tussle According to the crowd-sourced index, which started in 2017, global
S&P shipbroking veteran Roy Rudd dies Roy Rudd, a familiar shipping industry face from the 1960s and 1970s, has died at 90. Shipbroker son Mike Rudd, who founded Vortex Shipbroking in 2018, said his father died on 25 May having had "a fantastic life". He spent over 50 years in the shipping industry. Former SSY chairman Peter Kitching dies aged 80 Roy Rudd joined what was then shipbroker Simpson Spence & Young, after cutting his te
Norled inks world's first hydrogen car ferry Norway's Norled has ordered two pioneering new ferries the week after its sale was agreed by owner DSD. Domestic shipbuilder Westcon said it had been commissioned to construct the world's first car ferry to run on hydrogen, plus another ship that will use batteries. The vessels will carry 299 passengers and 80 cars. DSD gets healthy price for sale of ferry subsidiary Norled They will sail betw
Livestock carrier hit by fire in Greece Firefighters in Greece have been tackling a fire on a livestock carrier. The blaze broke out on the 4,700-dwt Boi Branco (built 1976) in Piraeus in Thursday, the 902 website reported. Tugs and 25 firefighters from eight vehicles were in attendance. No animals were reported on board. The vessel is operated by Rami Shipping Management of Beirut.
Hunter Group bangs tanker drum as $196m double VLCC sale talks continue Arne Fredly's Hunter Group struck an upbeat note on both the tanker market and its financial progress as it closes in on the sale of two of its eight VLCC newbuildings. Arne Fredly's Hunter Group poised to pocket highest VLCC resale price in half a decade Hunter Group set to spear profit on double VLCC sale at eye-catching price Lemos company Enesel closing in on blockbuster VLCC time charter
Ince name survives Gordon Dadds takeover The Ince name is to continue in shipping legal circles following its £27m ($34m) takeover by Gordon Dadds last December. The merged company has been known as Ince Gordon Dadds, part of Gordon Dadds Group, but will now be just Ince after a strategic review of the legal businesses. Most of the affiliated entities, including the international offices, will also be known as Ince. Ince Gordon Dadds
Maersk Broker executive trio chart next moves after profitable and expansive 2018 Maersk Broker is keeping an eye out for further growth opportunities after recording what its top executives called satisfactory results in 2018. A continuation of its developments in the dry cargo market and its greater involvement and prominence in finance and research remain on the agenda, its executive board of Anders Hald, Claes Devantier and Henrik Franck told TradeWinds. "Every baby
Shareholders okay Hyundai Heavy split despite protests Shareholders have approved a plan to split up Hyundai Heavy Industries (HHI) ahead of its merger with DSME despite big protests in Seoul on Friday. Hyundai Heavy to partially shut Ulsan yards due to strike The vote marks the first step of the process to combine the shipbuilders in the teeth of fierce opposition from HHI's union. The $1.6bn takeover of DSME was agreed in March. HHI will now be
EMAS Offshore to be booted off Oslo exchange The Oslo Bors is trying once more to kick restructuring Singapore OSV owner EMAS Offshore off its exchange. It said it considered the company unsuitable for listing and believes it is not in a position to comply with its obligations. "Failure to pay fees in accordance with the general business terms and conditions of Oslo Bors is a breach of the continuing obligations, and the company does no lo
John Fredriksen's Flex LNG to list in New York in June John Fredriksen's Flex LNG will list in New York in June after the US SEC declared its registration statement effective. No new securities will be issued in connection with the move, which will see the company quoted on both the New York Stock Exchange and in Oslo. John Fredriksen's Flex LNG set to sail onto New York Stock Exchange Spotify-style Fredriksen's Flex LNG inches towards US listing
Expedition cruise orders keep rolling in Three more polar-classed cruiseship have been ordered this week including a seventh vessel for SunStone in China
Aussie LNG FSRU facility signs up first customer AIE's backers says they are also in "deep negotiations" with other potential buyers.
Jinhui Shipping's profit down 20% on market weakness But the Oslo-listed shipowner said the bulker sector still offers "more encouraging signs".
OOIL set to continue to outperform its peers Hong Kong owner's industry-leading return ratios set to improve even with change of ownership, says analyst.
Canadian port employers, ILWU reach tentative accord Dockworkers return to work Thursday afternoon after all-night negotiations.
Key USMCA step taken as Trump announces tariffs on Mexico The Trump administration on Thursday sent to Congress the draft statement of administrative action for approval of U.S.-Mexico-Canada Agreement implementing legislation, but the president tweeted on the same day that he plans to impose tariffs on Mexico starting this month, about two weeks after the U.S. removed metal tariffs on Canada and Mexico.
'Too soon to tell' autonomous trucks' workforce impact Daimler Trucks announced it is establishing the Autonomous Technology Group as part of its effort to put highly automated trucks onto roadways within the next decade.
New Jersey exit from Waterfront Commission blocked Judge says New York must concur with New Jersey's desire to leave the bi-state law enforcement agency.
Commentary: Advice on unrestricted Huawei affiliates Consultant warns exporters still need to exercise common sense to ensure there's no suggestion that the integrity of an export transaction is suspect.
Concerns raised about NVOCC renewals in China Attorney reports difficulties for U.S. firms as China moves from national to provincial registration of non-vessel operating common carriers.
Trade remedy to Central American exodus sought COAC's Northern Triangle Working Group gains momentum with 50 members and involvement from nongovernmental organizations and the United Nations.
AMO president receives Golden Compass Award
Talks underway to link Savannah, St. Louis via rail
Universities offer logistics and supply chain masters
FUTURES 5: Crude complex ends week lower as Mexican tariffs add to demand concerns Crude oil futures settled lower Friday on concerns that new US tariffs on imports of Mexican goods could slow demand growth.
MARINE FUEL 0.5%: Stockpiling for components, paper trading ramps up in May As testing and stockpiling demands increased throughout the year, liquidity in the derivatives markets, which S&P Global Platts began assessing May 2, increased.
Southernpec's exit to have muted impact on Singapore bunker market: sources "There is no significant impact on the market, [more recently] they were just leasing out their barges," a bunker supplier said.
Singapore Jun ex-wharf 380 CST term done at plus $3-$4/mt; higher from May "Delivered bunker demand is still poor ... though ex-wharf has seen some uptick compared with last month," a bunker trader said.
Middle distillate stocks at 11-week high as imports rebound: Enterprise Singapore Traders were in no rush to buy, however sources said there was emerging demand from Singapore for H2 June loading cargoes which may be used for blending into gasoil.
IMO 2020 may lift needle coke prices, hit steel: Wood Mac Prices for the low-sulfur crude oil types required to produce needle coke are expected to rise as more of these are diverted towards marine fuels, Wood Mac said.
East-West fuel oil spread at six-week low on closed arbitrage to Singapore One fuel oil trader said the East-West spread was falling on the back of the China-US trade war.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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