Probation violations cost Carnival $20 million Princess Cruise Lines Ltd. and its parent, Carnival Corporation were today ordered to pay a $20 million criminal penalty and will be subject to enhanced supervision after admitting to violations of probation
Matson to retrofit six more ships with scrubbers Matson, Inc. (NYSE: MATX) has begun the installation of exhaust gas scrubbers on six vessels deployed in its Hawaii and China-Long Beach Express services as part of its strategy to comply with
Pacific Green names Mahoney MD of new division San Jose, Calif., based exhaust gas scrubber specialist Pacific Green Technologies Inc. (OTCQB: PGTK), Nick Mahoney as Managing Director of its newly created division, Pacific Green Marine Technologies Trading Limited. Mahoney joins
Wärtsilä wins first order for auto-docking system Wärtsilä says it has taken a major step towards realizing the full commercial potential of autonomous vessels. It has booked the first order for its SmartDock auto-docking system. The order follows an
Saab and Orolia team to protect navigation systems from cyber attack Saab is collaborating with Orolia on a suite of technologies that detect and mitigate cyber-attacks on navigation systems onshore or on vessels. As the 2021 deadline gets nearer for implementation of IMO's
DNV GL names Vareide CEO of Digital Solutions business Kenneth Vareide has been appointed the CEO of DNV GL's Digital Solutions business area, "DNV GL has been a digital pioneer since the 1960s and it is an exciting and challenging time
VIDEO: World's most powerful all-electric ferry set to debut The world's most powerful all-electric ferry thus far will soon start operating on a 22 nautical mile crossing between the Danish islands of Ærø and Fynshav. This is seven times the length
CC Industries acquire Southern Towing Company Chicago headquartered CC Industries, Inc. has acquired Southern Towing Company ("STC") from Trive Capital and McCombs Partners. Founded in 1958, STC is one of the largest operators of towboats and barges along
Industry still lagging behind on digital standardisation and data sharing Leadership panel level familiar criticism against an industry apparently unwilling to change
Liberia deregisters tanker carrying Iranian crude The Liberian registry says Pacific Bravo is one of six Chinese-owned VLCCs identified as shipping Iranian crude from January through...
Coming soon: Digital kit that can tell consumers what a cargo's carbon footprint is Some large shippers such as Proctor & Gamble or Walmart are already focusing on how to provide customers with a...
LNG will be transitional fuel for 2030, Nor-Shipping hears Shipping leaders have little idea about how the IMO's 2050 emissions reduction targets will be achieved, a Nor-Shipping conference panel...
Euroseas to acquire four Pittas-owned feeders Owner unveils slew of moves to create 'larger, better capitalised company'
Total will take Toshiba's US LNG business The deal will boost Total's US LNG portfolio to 7m tpa by 2020
Insurance claims over 2020 sulphur cap spike Shipowners continue to have concerns over fuel quality and enforcement
Supreme Court to reconsider payout in scuttled bulker case An underwriting firm is appealing to the Supreme Court in London in an effort to recover a £22m payout. The...
Autonomous ship pioneers to reap rewards Shift towards unmanned vessels a true game-changer, says Levander
Gutteridge appointed new Abto chief Simon Gutteridge takes over as chief executive in July
Minister makes passionate environmental plea The challenge will be to strike the right balance between production and environmental protection, says minister
Potential US tariffs on Mexico imports are good for tankers, says Poten Should tit-for-tat tariffs be implemented, a shift to longer-haul trades would benefit the crude and product tanker markets, according to...
Carriers hold out hope for peak season demand Spot market held down as cargo owners look for new sourcing locations
D'Amico sells part-owned medium range tanker The sale gives Eco Tankers, in which d'Amico holds a 33% stake, a $12.8m profit
Lloyd's List expands awards and embraces decarbonisation Successful entrants in the four regional awards will automatically earn a place in the prestigious Lloyd's List Global Awards
Can a trade war correct China's economic approach? Talks between the EU, Japan and the US said to have been filled 'with common concerns, but not much agreement...
Daily Briefing The half a trillion dollar cost of Strait of Hormuz closure | Australia faces importing LNG amid supply shortfall |...
DNV GL appoints Vareide to head digital business 'He will continue to grow our software eco-system and the services we offer to our customers, and build on the...
Brightoil ex-chairman returns as strategic adviser Brightoil expects a HK$452m consolidated loss for the six months to end of 2018 and all its vessel assets have...
LSFO-pegged LNG price may attract more shipowners Fixed spread will help owners work out how to amortise the extra costs of LNG-fuelled vessels
Danaos regains New York Stock Exchange compliance Danaos Corp is back in good standing with the New York Stock Exchange. The John Coustas-led bulker owner has regained full compliance with minimum average share price listing requirements of $1 for 30 trading days ended 1 June. Danaos gets lift from Seaspan's $1bn loan programme The Greek containership owner's board of directors implemented a one-for-14 reverse stock split effective 2 May. The
Carnival to pay $20m fine for continued polluting Arnold Donald-led cruise major violated 2017 probation given for illegally dumping oil into the ocean.
Matson to fix six scrubbers, will meet IMO 2020 deadline Matson says it is on schedule for compliance with the coming IMO 2020 emissions regulations. The New York-traded Hawaiian boxship owner said Monday that three of the six ships in its China-Long Beach Express service will be outfitted with scrubbers this year and the other three next year. Matson sees lower profit amid higher costs "Because of unpredictability in the way fuel markets may develop
Bulker beached in Oregon refloated A bulker that ran aground in Oregon over the weekend was refloated Monday morning without any injuries or pollution, the US Coast Guard reported. Anbros Maritime sells supramax, reducing Greek owner's fleet to three vessels The 76,500-dwt Gorgoypikoos (built 2005) ran aground on the Miller Sands Bar near Tongue Point Sunday, approximately 13 miles east of the mouth of the Columbia River, the age
Maersk starts $1.5bn buyback programme Danish boxship giant plans to grab up to 3.12 million shares through summer 2020.
Frank accepts award for Sovcomflot's first LNG tanker Sovcomflot chief executive Sergey Frank in Oslo to collect Nor-Shipping Next Generation ship award for first LNG-fuelled aframax Gagarin Prospect.
Wallem's Coles warns against half-baked digitalisation A half-baked approach to digitalisation would lead to heightened maritime risks by creating potential conflicts between different operating systems, according to Wallem Group chief executive Frank Coles. As the shipping industry starts to grasp the concept of digitisation, many vessel operators are adopting various technological systems in different parts of their operations while leaving the res
Flex's Spotify listing to be followed by cartoons in contracts Flex LNG chief executive Oystein Kalleklev has his finger on the pulse when it comes to trends in society. John Fredriksen's Flex LNG set to sail onto New York Stock Exchange Spotify-style Flex LNG chief executive Oystein Kalleklev says its fleet is 'best on the menu' Kalleklev has taken inspiration from Spotify in engineering a US-listing for Flex at a time the New York Stock Exchange has not
Mitsubishi backing helps Guardian expand supramax pool Chief executive of former TBS says collaboration well on track to double numbers over next 18 months as charter-market appeal fades
Nordic six sets out aims for shipping to lower its emissions Grieg Star, DFDS, Equinor, Wartsila, Kvaerner and Aker Solutions hope ZEEDS can initiate more knowledge sharing to fight climate change
Owners safe from change in scrubber regs The Marshall Islands ship register's IMO expert has confirmed it could be years before the IMO comes up with any significant changes to regulations covering the use of open loop scrubbers. Regulatory affairs advisor to the Marshall Islands flag Nick Makar said it is unlikely there will be any regulatory changes likely before, or in the first few years following, the start of the IMO 2020 regulati
Greeks linked to Maersk Tankers' twin aframax sale Greek interests have been linked to a pair of aframaxes that Maersk Tankers reportedly shed last week. Brokers in London and Athens identified listed dry bulk company Diana Shipping as the buyer of the 105,000-dwt Maersk Jamnagar and Maersk Jeddah (both built 2011). TradeWinds has reported that the vessels were sold for $30.3m. Diana chief strategy officer Ioannis Zafirakis, however, denied th
Euroseas snaps up feeder quartet as it refinances Greek owner Euroseas has bought four feederships as it refinanced debt to free cash. The Nasdaq-listed company said it had agreed to acquire four vessels from the controlling Pittas family for a price that includes a cash payment of $15m and an issue of about 22.5m shares to the sellers. This equates to $13.5m at the current level of $0.60 per share. These shares represent approximately 64.3% o
Petrobras to run IMO 2020 refinery tests Brazilian state oil major is to run refinery tests this month in preparation for the IMO 2020 fuel rule-change. It said: "During the period of tests, the marine fuels to be offered in the port of Santos most likely will contain a lower viscosity." According to the Platts news agency, it added that it can guarantee ISO 8217:2010 availability, but will be unable to know the exact viscosity of the
Ridgebury Tankers master acquitted in pollution case US jury frees captain who had been in custody for 19 months on suspicion of dumping oily waste
Tango FLNG starts offloading first cargo Argentina's mini barge-based LNG production unit Tango FLNG has started offloading its first cargo onto a waiting LNG carrier. Exmar's Tango FLNG poised to produce first LNG Domestic energy company YPF, the floater's charterer, said Sunday that an initial cargo had begun loading onto the 147,895-cbm Fuji LNG (built 2004). The ship is now moored alongside the 0.5 million tonne per annum capacity
J&J Denholm's Diamond D sails on with generation change in sight Ben MacLehose prepares to take over as chief executive from John Denholm as family remains at heart of famous name in shipping
Chinese back in their droves at Nor-Shipping as frosty relations thaw Record high Chinese participation will see state-owned shipbuilding giants back in their droves at Nor-Shipping
GoodBulk happy with Oslo OTC listing at a time global shipping stocks are getting whipped around The company is paying out money to shareholders, chief executive John Michael Radziwill told TradeWinds
Upturn offers hope for a few idle OSVs - but not the many Reactivating idle vessels sounds reasonable as demand recovers, but costs remain a hurdle
Ofer vessel helped take controversial Canadian waste back home An Idan Ofer-controlled boxship helped take a cargo of illegal waste that had been lying in the Philippines for six years back to Canada. The 4,253-teu Bavaria (built 2003), operated by Eastern Pacific Shipping (EPS), transported the rubbish to Taiwan, where it was transhipped for a voyage back to Vancouver in 69 containers, The Guardian reported. The Philippines says the 1,500 tonnes of waste
Alpha Bank on track with disposals as impairments fall to $199m Greek shipping lender Alpha Bank is pressing ahead with huge disposals of bad loans as impairments fell in the first quarter. The bank said impairment losses on loans were "significantly reduced" to EUR 178.3m ($199m) to 31 March, from EUR 335.8m last year. Alpha Bank plans disposals as loan losses hit $1.8bn Alpha Bank raises $250m for shipping This implies a cost of risk of 1.4%, compared to
Norwegian tanker club OTF toasts 25th anniversary in Oslo The tradition-rich Norwegian tanker club OTF has celebrated its 25th anniversary at the luxurious Feinschmecker Restaurant in Oslo. Today the club, whose name is an acronym for Old Tanker Farts, has 17 members, each of whom has on average more than 40 years of industry experience, largely with Norwegian companies. Norwegian Shipbrokers' Association turns 100 Norwegian golfers fall way below par
Fletcher delivers warning over OSV 'order insanity' Shipowners must manage their vessels' return to work in the upturn, if they are to avoid the mistake of adopting a boom-and-bust mindset
Barreras clinches second Ritz-Carlton cruiseship Spanish yard Barreras has clinched the second in a potential series of three luxury cruiseships for the Ritz-Carlton group. The yard said the new vessel would be hull number 1706. The first vessel was agreed in 2017, with two options attached. Delivery of the initial unit is due in the fourth quarter. No price has been revealed. The yard has called the design - in cooperation with the owner a
Great Eastern launches $14m buyback India's Great Eastern Shipping has revealed plans for a share buyback worth up to INR 1bn ($14.4m). It will pay not more than INR 306 each for as many as 3.3m shares, it said. The maximum purchase amount would equal 2.17% of the company. The shares closed at INR 280.30 in Mumbai on 31 May. In April, the tanker and bulker owner said it was contemplating a bond issue worth INR 10bn. The plan
Four MRs in, one out at Torm Danish owner Torm is adding four MRs to its fleet in a deal worth $83m. The company said the unnamed 2011-built tankers will join between August and December this year. All were constructed at Hyundai Mipo, like 10 other ships in the Torm fleet. It has "good technical and commercial experience with these vessels," it said. Potential candidates include a quartet of 52,000-dwt ships built by Mip
John Fredriksen top dog amont Norwegian owners who boast fleet worth $60bn Billionaire far ahead of his rivals with a collective fleet of 16.21 million gross tons as Norway flexes its muscles across most sectors
Ex-CEO Sit back at Brightoil a month after quitting Former Brightoil Petroleum boss Sit Kwong Lam has taken a new role with the beleaguered company a month after quitting. Sit was declared bankrupt in Hong Kong in April and resigned as CEO and chairman. But the VLCC owner said on Monday he had a signed a deal to become a strategic advisor for a term of three years. Brightoil boss quits after being declared bankrupt Beleaguered Brightoil in talk
Underwriters head to top UK court in scuttled bulker case Underwriters including Aspen Underwriting are to contest a $22m bulker scuttling case in the UK's highest court. The Supreme Court said it had granted leave to appeal a ruling in the court of appeal last November that found in favour of Netherlands-based, Turkish-owned Credit Europe Bank. The case will be heard before court president Lady Hale, Lord Lloyd-Jones and Lady Arden, but no date has y
Atlantska Plovidba edges up earnings Croatian owner Atlanska Plovidba has increased earnings in the first quarter despite falling revenue. Net profit edged up to HRK 14m ($2.11m) from HRK 13.6m in the same three months of 2018. Revenue dropped HRK 16m to HRK 84m, while total expenses reached HRK 88m. The owner had a fleet of 12 ships at the end of the period.
Zvezda yard to add 100 more ships Russia's new Zvezda shipyard will expand its orderbook to between 120 and 130 vessels. This is according to Kirill Molodtsov, assistant to Russia's presidential chief of staff, who was quoted by PortNews. Yard owner Rosneft said in January that the yard has orders for 37 vessels so far. Novatek hands Arctic LNG 2 contract to TechnipFMC It revealed orders for 19 more tankers and offshore ships
Icon Offshore makes weaker start to 2019 Malaysian offshore support vessel company hurt by lower fleet utilization levels.
Extra Brazil crude cargoes to China may boost VLCCs Petrobras said to have taken storage in Qingdao as it looks to target independent 'teapot' refiners.
PSA eyes energy savings in tie-up with Singapore regulator Initiative aimed at developing smart grids and energy management systems Pasir Panjang Terminal.
USTR grants more Section 301 exclusions The exclusions on such products as certain oil pumps, forklifts, garage door openers, ball bearings and medical equipment will be retroactive to July 6, 2018, and extend through June 4, 2020.
Tanker captain acquitted in pollution case After being detained for 19 months in Louisiana, the master of the Ridgeway Alexander Z is allowed to return to Russia.
Panel: Supply chains feel crunch of geopolitical tensions Speakers at a University of North Florida roundtable event said technology can help companies remain flexible and agile as the political environment shifts.
No growth in air cargo seen in 2019 Demand not expected to increase because of the impact of higher tariffs on trade.
Commentary: Export compliance officers tied in knots No doubt these are unsettling and downright worrisome times, especially for those with global operations that conduct business with China and who want to do the right thing.
Canada will spend $47.5 million on Port of Halifax improvements
Maersk withdrawing from two discussion agreements
First all-cargo airlines to offer digital booking on cargo.one
Freeport, Horizon Terminal Services to expand acreage
Goldman sees oil prices averaging around $65/b in coming months Global oil prices are expected to rise slightly from current levels in the coming months, Goldman Sachs said Monday.
Economic concerns continue to weigh on crude futures Crude futures were mixed midday Monday.
Japan to test IMO-compliant bunker fuel from refiners on coastal ships soon Japan's transport ministry intends to run a trial soon to use bunker fuel from local refiners that complies with International Maritime Organization's new sulfur limit.
ICE Jun Singapore HSFO open interest slides 15% to 11.7 mil mt Open interest for front-month June Singapore high sulfur fuel oil contracts traded on the Intercontinental Exchange slid 15% on the month.ata show.
REFINERY NEWS: China's Shenghong starts building CDU, reformer "It signals the company has carried out construction on the core facilities," Shenghong said on WeChat.
FUTURES: Oil remains lower on trade tensions, lower demand On Sunday, US President Donald Trump threatened on Twitter to impose escalating tariffs on Mexico.
External: Global Risk Management
ADNOC lowers May crude oil OSPs by 60-80 cents/b from Apr As a differential to Dubai, Umm Lulu is at a premium of $3.18/b, a rise of 98 cents/b month on month.
Shipowners should pay heed to washwater monitoring systems for scrubbers as IMO 2020 looms: Rivertrace At some future point, the accurate monitoring of washwater will become essential, Coomber said.
SUBSCRIBER NOTE: Platts amends Asia bunker assessment methodology The changes follow extensive consultation with the industry after Platts made similar changes to its Singapore delivered bunker methodology on July 2, 2018.
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