Bakke out as Havyard Group CEO Norway's financially troubled Havyard Group says that its Board and CEO Geir Johan Bakke have agreed to "terminate their employment relationship with immediate effect." Bakke has said he is willing to be
Ship operating costs rise on higher R&M and insurance spending Underlying vessel operating cost inflation accelerated moderately in 2019 as a result of higher spending on repair & maintenance and insurance. Costs are expected to continue rising at a similar pace in
NTSB: Poor maintenance led to towboat capsize The National Transportation Safety Board (NTSB) has issued the report of its investigation of the October 9, 2018 capsizing of a 39 year old towboat at mile 142 on the Lower Mississippi
Scrubber payback forecast within a year as fuel oil spreads stay wide An investment fund has analysed exhaust gas scrubber payback times based on fuel oil spreads of $100, $200 and $300...
Trade compliance speeds up on PSA-backed platform A PSA-backed venture has showcased a trade platform that claims to have slashed to just one day the compliance processes...
CMA CGM joins UN Global Compact As the UN meets to discuss climate change in Madrid, CMA CGM pitches its green credentials
West of England P&I raises rates 2.5% Club warns its members that premium levels have been eroded to a point where they are no longer sustainable and...
Imabari to tie up with JMU amid shipbuilding megamergers Some local industry observers have interpreted the capital tie-up as 'a bailout of the JMU' by Imabari
Drop in grains exports from the Black Sea bearish for bulkers Grains export activity from Russia and Ukraine should pick up again in early spring
Nam Cheong enters chartering and offshore engineering segments While the shipbuilding market continues to foresee weakness, group chief executive Leong Seng Keat is much more upbeat about the...
Biofuels approaching commercial use Trials of biofuels have proved their viability as an alternative to fuel oil but scaling up remains a challenge
Singapore regulator baulks at HHI DSME merger Competition regulators are concerned as to whether alternative suppliers will be sufficiently strong to compete as competitors to the proposed...
Industry welcomes India's accession to Hong Kong Convention India, one of the top volume ship recycling countries in the world, has become the 15th contracting state to the...
Inmarsat Fleet Data gains greater acceptance with ABB tie-up The platform bridges the gap between shipowners and the community of applications providers that neither have core competencies nor much...
It's time to ignore the ideologues and begin dredging in San Francisco Bay The dredging project is opposed by environmentalists, who see it as promoting the fossil fuel industry just when certain quarters...
China says shipbuilding mega merger faces fewer antitrust hurdles CSSC's international department director Li Yanqing says the shipbuilding market will bottom out soon. The state-owned giant is poised to unveil...
Countries considering Mediterranean SECA plan Mediterranean governments will discuss a road map for a 0.1% sulphur Emission Control Area. Ships would not have to comply...
Daily Briefing Free to read: Price spikes and delivery delays seen in Singapore ahead of IMO 2020 | South African operator rejects...
From pirates to politicians and from hackers to seafarers: A decade of maritime's most influential players The 10th instalment of Lloyd's List's Top 100 most influential people in maritime will be published on December 13
Top 10 box port operators As part of our annual Lloyd's List Top 100 most influential people in shipping, being published on December 13, we...
Danaos underwriters get in on $54m share offer Underwriters for Danaos Corp have put some money toward a $54m share offering, bringing the shipowner's total proceeds to $56.5m. The Dr John Coustas-led boxship player's backers partially exercised their option to buy 418,080 more shares through the offer, which closed 26 November. Danaos sold a total of 9.42 million shares to raise money for capital expenditures, including vessel acquisitions,
Japan looking to send aircraft to Middle East Gulf Japan could send its own forces to the Strait of Hormuz by year-end. The country could send a patrol aircraft stationed nearby and a helicopter carrier to the waterway for surveillance purposes, according to a report in The Mainichi. But the forces will not work alongside the seven-member International Maritime Security Construct (IMSC), a US-led coalition launched in the summer to ensure the sa
Diana Shipping to keep rebuying 'under price' shares Greek owner may bring back dividend if stock value surpasses net asset value, chief strategy officer Ioannis Zafirakis says
Diana Shipping profit shrinks along with fleet Diana Shipping has reported lower profit for the third quarter on the back of a downsized fleet and lower freight revenue. Diana Shipping offers to repurchase $10m in shares The New York-listed bulker owner posted a modest $1.3m profit for the three-month period, down from $14.8m last year. Net income attributed to common stockholders was $300,000 for the quarter this year, compared to $13.3m
Filipino president wants to blow pirates 'to kingdom come' Duterte said he wanted to work with Indonesia and Malaysia to fight piracy in the region
Norwegian seeks to extend $565m in debt through private offer Norwegian Cruise Line Holdings is aiming to raise over half a billion dollars in fresh capital to replace maturing bonds. Subsidiary NCL Corp is proposing to sell $565m in senior notes due 2024 through a private offering to pay off that amount in senior bonds due next year. The New York-listed cruise major also plans to put some cash on hand toward the maturing debt. NCL said the notes are bein
Container lines' love-freight relationship with forwarding Box carriers are chasing more of the door-to-door business they get from forwarders and logistics companies. It failed before, so what has changed?
November 'disappoints' for scrap sales but India back in business Demolition broker Ed McIlvaney says sub-continental buyers "in more serious mode" in final week of month
Global Ship Lease issues $4m more in notes to underwriters Global Ship Lease (GSL) underwriters have exercised the full option on some unsecured notes, bringing the total offer to $29.7m after paying underwriting discounts, commissions and offering expenses. The Ian Webber-led company announced Monday that it has issued an additional $4.13m in 8% notes due 2024, related to a 27 November offer. The New York-listed GSL plans to use the offering's net proc
Scrubber delays: failure to prepare is preparing for failure Shipowners must plan ahead - a four-month lead time - when retrofitting scrubbers, sector executives say
Car carriers heading to trial in $214m Daimler price-fixing case MOL and K Line units settle with German car maker, but others fight on in the UK courts
Besiktas opens Athens branch in first foray abroad Besiktas Shipyard inaugurated a new office in Athens. The site is the group's first branch outside its Turkish home base, highlighting the weighty role Greek shipowners have come to play in its business of ship repairs and environmental equipment installations. Companies from Greece represent more than a fifth of Besiktas group's total business book, chief executive Yavuz Kalkavan told TradeWin
Samsung clinches $158m deal for ice-class tanker duo South Korean yard says European shipowner orders high-spec aframaxes
Havyard fires chief executive as group bleeds money Havyard Group has terminated Geir Johan Bakke's employment as chief executive "with immediate effect", following huge losses sustained by its shipbuilding activities. Havyard unit's equity lost as covenant breaches revealed Bakke has worked for the Oslo-listed group for 18 years and has been chief executive since 2004. Gunnar Larsen, Havyard's senior vice-president of market & business developm
Stena goes to arbitration in $426m Samsung Heavy dispute South Korean yard resisting Swedish group's claim after drilling unit was cancelled in 2017
Liberia loses its place on the IMO Council But Japan wins most votes for its environmental efforts
20 questions with John Michael Radziwill: 'Dude, how come we're not a lot richer by now?' The CTM chief executive's philosophy is Pain + Reflection = Progress. That, and a Double Whopper for breakfast
Onassis: Turning all that drama into a drama The legendary shipowner still strikes a chord with average Greeks, as a new play in Athens shows
Ullman: no decision yet on Concordia's Oslo listing But tanker company's CEO says switch from Sweden could take place in 2020
Flatlining growth puts squeeze on big boxship owners in 2020 With falling volumes and rising capacity, the future is looking bleak for freight rates
Insurer West of England to hike rates by 2.5% Comparatively modest increase planned by P&I mutual
Captain dies after getting crew off sinking cargoship Master of Vietnamese vessel did not have time to escape after making sure colleagues were safe
Ray Car Carriers ship hit by engine room fire off France No injuries reported to crew on RCC Passion west of Ouessant Island
Eimskip offloads veteran reefer trio for $12m Icelandic line says vessels were contributing to loss in Norway
HSG to retain workers after winning race for Sungdong South Korean yard to make hull blocks after successful sale
New-look Ince Gordon Dadds is on the hunt for alliance in China Veteran Paul Ho says law firm is gunning for growth after overcoming 'humps and bumps' of departures
SDTR Marine sticking with low-sulphur fuel for IMO 2020 compliance SDTR Marine is opting to use low-sulphur fuel oil (LSFO) on its fleet to meet the upcoming IMO 2020 regulations. "In the short-term, we understand there will be a price difference between high-sulphur fuel oil [HSFO] and LSFO," company general manager Gao Dehui said. "But we believe the price difference will not continue for a long time as oil companies will be producing LSFO to meet shipping req
Fast-growing SDTR Marine keeps its focus on kamsarmaxes Singapore operator wants to be a top-tier bulker player in the sector
Wisdom Marine heads to Onomichi for handysize bulker Taiwanese shipowner returns to Japan for yet more dry bulk newbuilding tonnage
Wartsila teams with Silverstream on air lubrication tech Partnership aims to accelerate deployment of microbubble technology across all vessel classes
Marco Polo records profit, but still ends year in the red Singapore-listed offshore vessel operator buoyed by better AHTS utilization and more repair work
Logistics company Tiong Nam reports weaker quarterly results In a now familiar story, another logistics company - in this case Tiong Nam - reports weaker quarterly results owing to a global trade headwinds....
CVSA confirms hard enforcement of ELD transition Automatic onboard recording device users can expect no leniency after Dec. 16.
Repsol announces net-zero emissions by 2050 The move, intended to align the Spanish energy giant with the Paris Agreement goals, will cut the value of its oil and gas assets by...
ID Logistics gains US platform in Jagged Peak acquisition France-based contract logistics provider ID Logistics Group SA gains access to a U.S. e-commerce platform in its acquisition of Jagged Peak.
US citizen charged with assisting North Korea on blockchain A U.S. man living in Singapore illegally presented technical information at the Pyongyang Blockchain and Cryptocurrency Conference in April on how North Korea can use...
FAA calls Lufthansa skirting of operating approvals "blatant" Lufthansa Airlines is being called out by the FAA for allegedly going behind its back to operate at two U.S. airports without approval. Agencies don't...
Trucker Tools puts laser focus on efficient freight matching According to CEO, the biggest problems freight brokers face are visibility and 'one-load wonders.'
South African Airways teeters on financial precipice Government wrestles with options to keep state-owned carrier aloft
Is the U.S. final mile market size $8 billion or $417 billion? Market Expert David Faulkenberry writes about the increasingly important "final mile" and why estimates of its size vary so widely.
Freight Futures daily curve: 12/2 10 of 11 Trucking Freight Futures contracts higher on November/December spot roll.
Union Pacific sues Texas town over 1870s-era jobs promise Union Pacific (NYSE: UNP) is suing the city of Palestine, Texas, to nullify a 150-year-old contract to keep a certain number of jobs in the...
From trusted news source to trusted trade compliance tool Dow Jones Risk & Compliance has 24/7 monitoring and dedicated researchers to track and build detailed profiles of individuals and entities that are subject to...
Commentary: Venture capital-funded disruptors continue to change the logistics landscape Ben Thrower writes that venture capital funds continue to flow to digital freight brokerages, but legacy companies continue to fight back.
Top issues for supply chains for holiday shipping Plan, then plan some more as the ability of a 3PL to handle the holidays becomes test for handling the rest of the year.
US tariffs threatened for Brazilian, Argentine steel and aluminum imports President Trump cited currency manipulation as the reason to reimpose tariffs on imports from the two South American countries.
Today's Pickup: Amazon reportedly tests inventory staging for merchants Storage and Replenishment service allows products to be stored near fulfillment centers to allow faster restocking during the holiday rush.
Preparing for the Drug & Alcohol Clearinghouse: 4 things to do now Set to go live on Jan. 6, 2020, the drug & alcohol clearinghouse will change the way truck drivers and carriers monitor drug testing.
Wintry weather disrupting transportation in Northeast U.S. Snowstorm prompting commercial vehicle restrictions, airport ground delays in major northeastern U.S. cities.
Retail compliance initiative boots transparency, reduces chargebacks As peak retail season approaches, the battle for retail compliance only intensifies.
Drugs War: Europe under siege as crime syndicates piggyback supply chains (With Video) Maritime, air and overland trade routes into Europe are being piggybacked by criminal gangs deploying the latest digital supply chain technologies to help meet mushrooming...
Cummins enters its second century amid trucking downturn Cummins Inc. is winding down its centennial anniversary as the trucking industry it serves also slows. But the company has a history of emerging stronger...
Relieving physical stress of warehouse workers through ergoskeletons that share loads French-based 3PL FM Logistic has unveiled the Ergoskel, an ergoskeleton designed to assist warehouse employees to work around parcels without them taking a toll on...
Asian gasoil market picks up on firmer demand, jet lacks support A lack of kerosene demand for heating during the peak winter period is widening the jet fuel discount to co-distillate gasoil, as participants eye a possible uptick in gasoil demand in the run up to IMO 2020.
Start of feedgas flow to Cameron LNG Train 2 bolsters US ramp-up at export facilities Cameron LNG was flowing feedgas to its second liquefaction train Monday as deliveries to US export terminals remained near a record level with the market in contango and with the peak winter season approaching
FUTURES 4: Crude settles higher, but gains pared by economic concerns Crude futures settled higher Monday on the possibility of further production cuts from OPEC and its partners.
SUBSCRIBER NOTE: Platts amends sulfur limit in Asian, African MGO/MDO assessments to 0.5% Platts first proposed the changes September 9, 2019: http://plts.co/1u3e30pY6hS
SUBSCRIBER NOTE: Platts to amend minimum increments in Singapore HSFO, MF0.5% cargo MOC The change is aimed at bringing greater granularity to the MOC assessment process, used to assess benchmark 380 CST HSFO, 180 CST HSFO and MF 0.5% assessments.
SUBSCRIBER NOTE: Platts launches Singapore, Rotterdam bunker in LNG equivalent units Platts first announced the decision in a subscriber note published October 3, 2019: http://plts.co/GXlH30pWQ6r.
Asia's high sulfur bunker prices slump 19%-52% in Nov to record lows as IMO 2020 nears "We are not seeing many HSFO inquiries in market now. Demand for LSFO is growing and supply for LSFO is very tight," a trader said.
FEATURE: Oil sector consolidation, clean fuel drive await India in 2020 New Delhi's is aiming to boost the share of gas in its energy mix from nearly 6% currently to 15% by 2030.
Bunker fuel quality remains a pressing concern as IMO 2020 nears Increased blending due to IMO 2020 likely to spur bunker fuel quality issues.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
