Dorian LPG increases scrubber investment The gas carrier now has 10 vessels contracted for scrubbers ahead of the 2020 sulphur cap
Stable crews might be a better way forward Stable crewing is more expensive in the short term but would pay off in the long run, a Southampton Solent...
NordLB offloads 263-ship portfolio of largely non-performing loans Cerberus will soon control a substantial chunk of Germany's overhanging shipping debt, with many in Hamburg fearful as to its...
Capital Product eyes broad horizon of shipping for opportunities with longer employment An $800m fleet controlled by its sponsor, Capital Maritime & Trading, includes large containerships and VLCCs - and additionally LNG...
Panalpina's largest shareholder declines to back DSV bid Ernst Göhner Foundation informs Panalpina board its preference for an 'independent growth strategy', including M&A
Box lines braced for Chinese New Year slowdown Container lines are managing capacity to meet demand but will be hoping that rates make a steady return to normal...
Daily Briefing Maersk to reduce UK and South Africa cadet intake | Baltic delays final decision on 2020 index changes | The...
Euronav chief executive Paddy Rodgers stepping down VLCC giant will start the search for a new chief executive to lead next phase of growth plan. Current chief...
Anadarko to supply CNOOC with Mozambique LNG The deal will bring Anadarko a step closer to a final investment decision for its East African LNG project
APL boxship burning off Vietnam The fire reportedly broke out in one of the ship's cargo compartments. No casualties have been reported so far and...
Brightoil reports $58m loss in June-December Embattled oil and gas player has calculated a HK$452m consolidated loss for the six months ended December 31, 2018 in...
Shipowners urged to hedge against oil price spike Shipping industry faces $100bn hit in worst-case scenario during the switch to low-sulphur fuels, say Enerjen Capital founders
NYK and BHP bunker vessel with biofuel using blockchain The journey of the fuel has been tracked and verified by BLOC's blockchain platform
Navios ups ante in offer for preferred shares Navios Maritime Holdings is sweetening the pot for preferred shareholders as it pushes forward with a tender offer that has been the centre of a lawsuit. Fewer than half of the necessary shares were offered for swap by last Friday's deadline. Now the Angeliki Frangou-led bulker owner has bumped its offer up on one series of preferred shares to $7.25 in cash per share or $8.28 in 9.75% notes. Ho
Gloomy freight market proving a snag for capesize bulker sales Depressed market sentiment and the Lunar New Year holiday are stalling the sale of a Japan-built capesize bulker that has been on the market since early January, brokers say. The 180,230 Nord Steel (built 2007) entered the market on 2 January, but crashing spot rates have so far kept a lid on buyer interest, sale and purchase specialists say. The Singapore-based seller, Singa Star, is said to
Leros Management of Greece prepares to offload fleet Leros Management of Greece is seeking a sale of all four bulkers in its fleet. The vessels were ordered at the peak of the market in 2008, and the shipowner is poised to to recoup only a fraction of what it paid for them. Leros ready to pay the price Three of ships are supramaxes from China's Cosco Zhoushan Shipyard, while the fourth is a handysize bulker from Dae Sun Shipbuilding & Engineerin
Iranian-built aframax emerges under Venezuelan ownership Tanker ordered in 2006 and completed in 2013 has finally joined the fleet of Venezuela's state-owned oil and gas company
No shock for Euronav stock after Rodgers' surprise exit Euronav's stock has so far withstood the shock news long-term chief executive Paddy Rodgers is leaving the company. Tanker giant Euronav announced this morning Rodgers would depart this year when a successor has been found. Outspoken Rodgers to quit Euronav, work for safety Shares in the world's largest publicly traded crude tanker owner slipped a little in early trading in Brussels as the news
Iranian ships 'having no problems' after sanctions Iranian ships have had no significant problems with insurance coverage following the re-imposition of US sanctions, according to the director of the country's Shipping Association. Vessels can ply routes in most areas and ports of the world, Masoud Polmeh told reporters. The IRNA website cited him as saying that due to US threats, some overseas insurance companies offer their services until the
Chinese New Year hangover looms for lines Shipping consultancy Drewry has warned that boxship rates could take around 20 weeks to recover from a post-Chinese New Year (CNY) slump. The holiday sees factories shut down as families reunite during a week-long rest from work. Drewry said that to counter the anticipated demand lull, carriers will usually blank a number of sailings in a bid to better match supply with demand. So far the compa
Dorian still looking at LPG fuel Despite moving forward with scrubber installations, Dorian LPG still has an eye on LPG as fuel - it's just too expensive right now. It announced scrubber installations on three more ships Monday, bringing its total to 10, then on its earnings conference call said LPG conversion could be available as soon as next year. VLGC giant Dorian LPG dials up investment in scrubbers Hats off to Hadjipater
Containerships buys back $13m of notes after CMA CGM takeover Finland's Containerships has bought back EUR 11.4m ($13m) of notes as bondholders exercised sell options following its takeover by CMA CGM. The French line bought the company last year and holders of the EUR 60m notes due 2021 had the right to require Containerships to repurchase the debt. The deadline for tendering the notes was 4 January. Bondholders offered in 19% of the principal amount and
Stolt-Nielsen reveals progress on 2020 fuel charges and tanker leaseback deal Stolt-Nielsen has enjoyed some success in passing the anticipated extra fuel cost from IMO 2020 rules onto its customers, its chief executive says. Oslo-listed Stolt is also working on a sale-and-leaseback deal involving multiple tankers, it has emerged. Tankers drag Stolt-Nielsen profit below forecasts Avenir LNG gears up for next phase of fundraising Chief executive Niels Stolt-Nielsen says
Hanjin's Subic yard receiver quits due to creditors The rehabilitation receiver for Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) has resigned. Stefani Sano blamed creditor opposition to his appointment by a local court, according to Business World. Philippines ready to help Hanjin yard buyers Philippines could buy Hanjin's Subic yard He said in a statement: "By this resignation, I hope that the creditor banks shall have no m
Brightoil confirms arrests of VLCCs and barges Hong Kong-listed firm has been forced to halt much of its shipping operations as debt restructuring continues.
Oldendorff to retrofit kamsarmax with scrubber Upgrade announced as German shipowner takes delivery of five newbuildings
GEOxyz OSV helps locate Emiliano Sala's plane A Belgian OSV has helped find the wreckage of the plane carrying footballer Emiliano Sala in the English Channel. The newly signed Cardiff City striker and pilot David Ibbotson died on the Piper Malibu aircraft last month en route to Wales from France. The 3,330-dwt Geo Ocean III (built 2004), owned by GEOxyz, was moved into position over the wreckage site after the plane was found by a privatel
VLGC giant Dorian LPG dials up investment in scrubbers Dorian LPG has upped its investment in scrubber technology as it wheeled out a stronger than expected set of quarterly numbers. New York-listed Dorian has opted to add scrubbers to three more vessels in a move it believes will offer a competitive advantage. Dorian's Hadjipateras named 2019 CMA Commodore Dorian reveals $20m scrubber project as it mulls BW LPG offer The project adds to a $20m pl
German study calls scrubbers 'new direct pollution source' to marine environment Research funded by the German Environment Agency highlights 'discrepancy' between scrubber-discharge samples and previous studies
Vafias-linked outfit seeks to keep tanker dispute in Texas US courts and not UK arbitrators should decide $20m liability case, says former owner of scrapped aframax
"Old" Noble Group to be liquidated A court hearing has been scheduled in Bermuda to wind up the "old" Noble Group following its $3.5bn debt restructuring. The company said the liquidation - a "procedural process" - will be considered on 8 February. Noble Group finally completes $3.5bn restructuring Court officer moves in to finalise Noble restructuring The Singapore trader and bulker owner was financially restructured at the en
Korea Shipping Corp scraps capesize bulker Korea Shipping Corp has sold capesize bulker for scrap, sources say. Demolition brokers say the 150,000-dwt Dangjin Friendship (built 1994) has been sold to Bangladesh for $445 per ldt or $8.3m. 'Wake-up call' for Indian yards as Brussels rejects scrapping applications Korea Shipping bought the vessel from Dong A Tanker for $8m in August 2012 as Dong A Ares. The ship was then due for special s
Maersk looking to expand on land The Danish group will target logistics, supply chain management and warehousing - but billion-dollar deals are out
Possible hijacking of three crew reported off Nigeria Maritime security firm Praesidium International has said three crew may have been kidnapped on Monday off Nigeria. An incident took place involving the landing craft Laeticia V, it said. The vessel was 135 nautical miles south-west of Brass in the Gulf of Guinea at the time. No further information was available.
Golden Pass decision seen as next spur for LNG market An anticipated final investment decision from Qatar Petroleum and Exxon on the Golden Pass LNG export facility is expected to spur the LNG market, Jefferies says. Analyst Randy Giveans says the decision is expected for the $10bn facility in Sabine Pass, Texas in the coming days. Qatar's $11bn newbuild plans show scale of LNG ambitions The analyst describes the step as "yet another important cat
Nord/LB rejects Cerberus bid as 263-ship portfolio sold Private equity fund bid on hold as state owner and savings banks come up with restructuring cash, but Cerberus tipped as buyer of $3bn "Big Ben" ship fund.
Milaha builds Nakilat stake to 36.3% with QIA deal Qatar Shipping (Milaha) has added another 5.9% to its holding in compatriot LNG carrier owner Nakilat. Milaha makes first boxship move in Europe The LPG, tanker, OSV and boxship player said it now owns 36.3% of the company. The 5.9% was the entire holding of Qatar Investment Authority (QIA). Milaha CEO Abdulrahman Essa Al-Mannai said his company was a founder of Nakilat. He added that the dea
Fredly sets target for Hunter VLCC pool play with Hartree Arne Fredly is positive about the growth potential of Hunter Group's VLCC pool. Hunter teamed up with fellow VLCC newcomer Hartree Maritime Partners last October to create a pool for scrubber-fitted eco VLCCs. Hunter and Hartree open door for consolidation with new eco VLCC pool Frontline and Hunter head crude pack as peer group trumps S&P 500 Hunter's eight VLCC newbuildings and four from Har
Berenberg upgrades Hapag-Lloyd despite 2020 fuel cost questions Berenberg Capital has upgraded shares in container giant Hapag-Lloyd despite headwinds facing the sector, including disruption from IMO 2020 rules. Analysts led by Joel Spungin raised Hapag to buy and adjusted their target price from €34 to €31 per share. Hapag-Lloyd commits to scrubber retrofitting Hapag-Lloyd swings cost axe as it sets out new strategy "We believe Hapag's valuation discount
Milaha makes first boxship move in Europe Qatar Navigation (Milaha) is to launch its first boxship service in Europe. The company will start a direct run linking the Black Sea and Mediterranean, it said in a statement cited by Bloomberg. This will connect Greece, Turkey, Georgia and Russia. Ports are Athens, Istanbul, Poti and Novorossiysk. Milaha will use two 1,700-teu ships that can also carry 300 reefer boxes. It has not specifi
MPC Capital takes $20m hit from rig write-down MPC Munchmeyer Petersen Capital (MPC Capital) has taken a EUR 17.2m ($19.68m) hit from its investment in an oil rig. The German investor, better known for its ownership of boxships, said it made an extraordinary write-down on financial assets of EUR 9.6m in 2018. MPC Capital : investors "cautious" as profit falls This related to the carrying amount of two indirect investments from the former KG
Outspoken Rodgers to quit Euronav, work for safety Chief executive to step down later this year after a successor is found, and plans to focus on helping address pollution and improve safety.
BHP and NYK latest to back biofuel bunkers GoodFuels supplies green fuel to Japanese capsize, with CO2 savings to be verified with blockchain.
Libya said to be targeting return of VLCC loadings North African nation's plans include investment in state-of-the-art port suitable for large tankers.
MAN confirms LPG-fuelled engines for China VLGC Engine builder says propulsion technology also suited to shuttle tankers and VLCCs.
Panalpina rejects acquisition bid by DSV Swiss foundation owning 46 percent of Panalpina does not support offer from Denmark's DSV.
COSCO's Finkel: Low rates make alliances necessary Shipping line's executive vice president of trade says U.S. trucking and rising ship fuel expenses are other concerns.
Consultant: Ports need to invest in infrastructure The investments could facilitate new trade lanes despite looming economic uncertainty.
APL ship on fire off coast of Vietnam A Hapag-Lloyd ship that caught fire early in January is now moored off Freeport, Bahamas.
CBP determines country of origin for Ethernet devices CBP is slated to publish Tuesday a ruling that found the U.S. to be the country of origin of certain Ethernet devices for purposes of U.S. government procurement.
BlueWater looks at political unrest in Venezuela Oil-producing countries are closely monitored as bunker prices heavily impact the ocean liner shipping industry.
CSX exec: Inland ports improve supply chain efficiency The Class I railroad has seen an increase in efficiency and improvement in quality of customer service since implementing scheduled railroading.
Intermodal volumes up 5.6 percent in 2018
Nominations sought for ag trade advisory committees
Oil ends day lower as equity rally fails to dampen crude oversupply concerns Crude prices finished in the red Monday after an afternoon equity rally failed to allay market concerns that crude markets could become oversupplied due to lower demand growth.
Argentina awards license to YPF, Tecpetrol for Vaca Muerta oil pipeline Argentina's energy secretariat said Monday it has awarded a 33-year license to a consortium of Tecpetrol and YPF to transport crude over an under-construction pipeline, a key for increasing oil production in the Vaca Muerta shale play.
Panama's December marine diesel sales decrease 8.19% on year Marine diesel fuel sales in Panama totaled 33,041 mt in December, down 8.19%, compared with the year-ago month, data from the Panama Maritime Authority showed Monday.
External: Marine Bunkering(Rotterdam)B.V.
Supply concerns push Dubai crude above ICE Brent for first time since Aug 2015 The strength is primarily due to tight sour crude supply reflecting uncertainty over Venezuela, a trader said.
BHP, NYK advance sustainable biofuels bunkering to cut carbon emissions The advanced biofuel was blended with conventional fossil-based MGO in a mix of 30% biofuel to 70% conventional MGO.
FUTURES: Crude steady to higher awaiting fresh cues "Some profit-taking can be seen this morning [Monday] though it remains largely supported compared to last week's levels," IG market strategist Pan Jingyi said.
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