Alfa Laval offers future proof scrubber options Local bans on open loop exhaust gas scrubbing are causing shipowners to look more closely at closed loop solutions. Alfa Laval PureSOx gives customers the option of closed loop scrubbing either by
Wärtsilä's Operim promises smarter performance, greater profitability Wärtsilä is launching a new, digital version of its Operim (Operational Performance Improvement & Monitoring) offering at this year's Nor-Shipping event in Oslo, Norway. By digitally augmenting physical products through the addition
Inland Marine Services to manage Apex Oil fleet Hebron, Ky,, headquartered vessel management specialist Inland Marine Service (IMS) has signed up Apex Oil Company, Inc. as its latest client. As a result of the deal, IMS will be responsible for
ABS publishes Low Carbon Shipping Outlook A Low Carbon Shipping Outlook just published by ABS aims to help the maritime sector evaluate potential pathways to a low-carbon future. "Despite all the noise and confusion about IMO 2020, the
Cummins unveils IMO Tier III strategy Cummins Inc. (NYSE: CMI) today unveiled its solution for meeting IMO Tier III emissions regulations. The company will utilize proven Tier II engine technology and add a Selective Catalytic Reduction (SCR) aftertreatment
Dataran Elektra appointed first PETRONAS-licensed agent for FUELTRAX in Malaysia To satisfy the growing demand for electronic fuel monitoring systems (EFMS) in Malaysia, FUELTRAX has appointed trade and services provider Dataran Elektra as the first PETRONAS-licensed agent for FUELTRAX in Malaysia. Now,
ABB adds DP2 capability to pilot control solution ABB is adding DP2 dynamic positioning functionality to its ABB Ability Marine Pilot Control solution. Designed to optimize vessel responsiveness, efficiency and safety across the entire operating profile, ABB Ability Marine Pilot
Three new two-strokes join WinGD engine line-up WinGD (Winterthur Gas & Diesel Ltd.) has introduced three new low-speed, two-stroke engines that are capable of operating on low emission fuels. It says the new additions to the portfolio - the
Sustainable finance tightening will cut off ship funding for smaller companies Capital will only flow in the direction of companies that are doing the right things. Scale and access to capital...
Wilhelmsen acquires 50% share in NorSea Wind Wilhelmsen chief executive says the tie-up with NorSea gives the group a new direction and leg to stand on by...
Shipping industry told to innovate to survive Prosperity - and even survival - requires shipping companies to be adapt to constant change, says Ramez Naam
Nigeria says seafarer kidnappings to be 'history' within months "The one assurance I can give you is that in the next few months - not the next few years...
Clipper benefits from strong ro-ro demand The expected improvement this year are driven by "continued positive commercial developments" in Seatruck Ferries, which operates ro-ro services in...
Norway sets out ambitious emission goals Neighbouring Scandinavian country Sweden is expected to announce targets of its own
J. Lauritzen cuts exposure to dry bulk amid losses The Danish company cut the number of controlled bulkers to 68 in the first quarter of the year from 83...
Hapag-Lloyd to add tracking to all reefer boxes German container line will develop services alongside customers to improve supply chain visibility
Torm buys four MRs ahead of market upswing The four vessels, built in 2011, have been bought for a total consideration of $83m
Maersk launches share buy-back programme First phase of plan will see Danish carrier spend up to DKr3.3bn on acquiring its own share capital
Oldendorff completes deals with 23 Chinese leasing firms Oldendorff adds that during the 35 years between 1986 to 2021 it would have taken delivery of 106 newbuildings from...
Daily Briefing Autonomous ship pioneers to reap rewards | Liberia deregisters tanker carrying Iran crude | LNG seen to be transitional fuel...
Allianz ship total losses plunge to record low The overall number of reported shipping incidents was almost flat at 2,698 in 2018, with machinery damage the leading cause...
Services sector will gain as Australia tops LNG stakes in 2020, predicts Rystad In the interim, with up to $40bn in LNG projects in the region coming through, if those in Papua New...
Sabine Pass' sixth train gets the go-ahead Cheniere boasts a new capital allocation framework it says will support continued investment in natural gas
Flex LNG to become first Fredriksen firm with in-house management Oslo-listed owner's measure suggests John Fredriksen treats LNG shipping business seriously and will stay for the long run.
Shipowners turn to more sophisticated financial models as banks back away A more diversified model could benefit shipowners even though other sources of financing are not always easy to secure.
FSL completes $31.48m fundraiser First Ship Lease Trust has completed its 956 million share fundraiser. Crude tanker rates boost FSL earnings The Singapore-listed shipowner disclosed Tuesday that it had raised $31.48m (SGD 43.03) by selling nearly a billion new units in a non-pronounceable preferential offering first announced last fall. According to the company, 430 million of those units were valid acceptances with another 5
US-Cuba cruises banned US cruisegoers destined for Cuba will have to change their vacation plans. The Trump administration today banned cruise voyages between the US and the island country in an effort to stop money-making tourism, the Associated Press reports. President Donald Trump has tightened restrictions on travel and remittances to the island nation in response to its support for the Nicolas Maduro regime in Ve
Star Bulk, Genco set to benefit from iron ore recovery Both owners show major upsides with solid balance sheets, Deutsche Bank analysts say.
Shipping faces extra costs to comply with sanctions New US advice suggests industry will need to pay for more technology
Young people predicted to change shipping's approach to diversity and the environment "If you're not here to contribute to society, why are you here?" the TradeWinds conference panel asked.
Can dry bulk freight rates still boom in a digital age? Have digital developments and changing dynamics in the dry cargo market put a cap on boom-time rates, which have historically helped shipowners build fortunes? Shipping a viable investment again but shipowners must face up to future challenges Wilhelmsen Ship Management breezes into offshore wind market with NorSea deal That was the possibility raised by Jan Dieleman, president of Cargill's oc
Castor Maritime sees improved earnings Nasdaq-listed owner of one bulker posts higher revenue for first half of year; stock price takes a healthy leap.
Wilhelmsen Ship Management breezes into offshore wind market with NorSea deal Singapore-based outfit buys 50% stake in the wind-sector specialist and senses a chance for the joint venture to 'set the playing rules a little' in a 'very fragmented market'
Shipping a viable investment again but shipowners must face up to future challenges Shipping stands as an investible industry for the first time in almost a decade, according to veteran Norwegian broker and investment banker Peter Anker. BHP: LNG bunkering will happen Erna Solberg looks to tap potential of the oceans as Norway intensifies green shipping drive However, the industry is set to see huge change in the next 10 years that will place demands on traditional shipowners
Maritime & Merchant Bank planning private placement to fuel growth Oslo-based Maritime & Merchant Bank (M&M) is pressing ahead with its plans for growth, which will include an equity raise in the near future and possibly the acquisition of other lenders' shipping loans. Maritime & Merchant Bank grows tanker and container loan book in profitable quarter Maritime & Merchant Bank seeks more deals after profitable start to 2019 Chief executive Halvor Sveen told Tr
J Lauritzen cuts 15 bulkers in slump Danish group J Lauritzen has reduced its bulker fleet by 15 ships in a weak market. It said it decided to bring the average number of controlled vessels down to 68 in the first quarter, compared with 83 a year ago. Lauritzen, Maersk and Torm join autonomous ship initiative J Lauritzen cuts loss as dry and LPG markets rise The market for handysizes was weak throughout the first three months, it
Grupo R sues in Texas for return of $10m in deposits from Coastline Maritime Mexican oil and gas giant seeks seizure of OSVs over failed 2014 acquisition
Berg is back with MPSV resale and listing plan Christian Berg's Bech Offshore is teaming up with Thailand's Beacon Offshore to buy an OSV newbuilding resale - with an Oslo listing also planned. The 4,000-dwt high-end DP 2 MPSV is nearing completion at Vard Shipyards in Vietnam. It was ordered in 2014 and appears to be a former ER Offshore ship, but is now owned by the yard. Norway's Bech will take a stake in Beacon, whose shareholders will
BHP: LNG bunkering will see 'quantum leap' The industry's drive towards greener, lower-emission fuels will make the current asset model redundant, according to the mining giant's top shipping official.
Helsinki Shipyard wins first order since sale Finland's Helsinki Shipyard has confirmed its first ship order since it was sold to a pair of Russian businessmen last month. One of the new owner's companies, Vodohod, is contracting two ice-class cruiseships, according to Russia's former deputy transport minister Viktor Olersky, who chairs both the yard and Vodohod. Expedition cruise orders keep rolling in Arctech yard reveals $1.7bn order ho
Erna Solberg looks to tap potential of the oceans as Norway intensifies green shipping drive Norwegian Prime Minister Erna Solberg has said the world's oceans hold the key to addressing some of the planet's major problems after her government made green shipping a cornerstone of its maritime policy. Speaking at Nor-Shipping in Oslo today, Solberg said we are all living in uncertain times and facing uncertain challenges, from hunger and poverty to climate change. Tax the rich? Norway's s
Hahn & Co 'considering' $4bn H-Line Shipping sale South Korea's Hahn & Co is being linked with a potential sale of bulker and LNG carrier owner H-Line Shipping. Sources familiar with the matter were cited by Bloomberg as saying the group is considering options for the company. H-Line Shipping spends over $100m on bulker newbuilds at New Times Shipbuilding H-Line orders $142m LNG capesize duo These could include a partial or full disposal. Ha
AI works best if you know what you're looking for, says Windward CEO Chief executive Ami Daniel says data-based modelling can enhance maritime business operations but goals need to be clear
Fifth generation of Eitzen family set to join Camillo Eitzen on comeback trail Axel Eitzen's eldest son to join Camillo Eitzen & Co in August as outfit goes for growth
Jinhui tears up Chartworld deal over late delivery Oslo-listed Jinhui Shipping and Transportation has cancelled a deal to buy a supramax bulker due to its late delivery. The company agreed in April to acquire two ships, the 50,220-dwt Aifanourios (built 2002) and the 50,354-dwt Aigeorgis (built 2001), for $6.25m and $5.75m from Lou Kollakis-led Chartworld Shipping of Greece. Jinhui buys two supramaxes It has now torn up the contract for Aifanou
Agent limits liability in vessel draft mix-up UK insurer International Transport Intermediaries Club (ITIC) has reminded members of the importance of terms and conditions in contracts after a draft mix-up resulted in a pay-out. The warning comes after a case involving an agent at a discharge port which advised a shipper with cargo on board an inbound vessel that the maximum draft was 40 feet. Armed guards charter clause costs manager $150,0
Briese aims to boost MPP fleet with Chinese newbuildings German operator eyeing new designs as pending orders and deliveries into the market could render older vessels obsolete
Clipper A/S splashes $124m on ro-ros as it logs profit Clipper ferry holding company Clipper Group A/S has revealed ro-ro acquisitions as it returned to the black for 2018. The Danish operation, which now effectively consists of Irish Sea ro-ro outfit Seatruck Ferries, said operating profit came in at $13m, against a loss of $12m in 2017. The net result was $0.5m, compared to a loss of $19m in the previous year. Clipper Bulk axes 40 jobs as part of
Wanted: Seafarers who like video games and want to spend more time with family Even officers' union official sees opportunity in increased automation in shipping, but the e-sport generation may one day take the helm
DSME workers stop HHI team carrying out due diligence Unionised workers at DSME have prevented a team from Hyundai Heavy Industries (HHI) carrying out due diligence ahead of their $1.6bn merger. Shareholders okay Hyundai Heavy split despite protests The on-site inspection was called off in Geoje, Korea, on Monday, the Yonhap news agency reported. HHI officials were denied entry, as were executives from Korea Development Bank, which is selling its
J&J Denholm was always on my radar, says soon-to-be CEO Ben MacLehose Cricket lover takes to the wicket after several years preparing for new CEO challenge
Oldendorff reveals 23 sale and charter deals in China Germany's Oldendorff group has revealed a series of 23 deals with Chinese leasing companies over the last year. The bulker owner and operator said it struck agreements with three companies for bulkers ranging between 61,000 dwt and 209,000 dwt. Oldendorff boosts green footprint with switch to LED bulbs Oldendorff takes Castor Maritime panamax on charter But the company added that none of these
Qatargas pushes back bid deadline on LNG newbuildings Middle East producer Qatargas has given shipbuilders more time to submit their initial bids for a series of at least 40 LNG newbuildings. Offers on the huge haul of vessels requested by the world's largest LNG producer were originally due last week on 27 May. Details of Qatargas' bumper LNG tender start to emerge But yards have been given an extension until the 17 June on offers. Interested pa
Awilco LNG carrier damaged in collision An Awilco LNG vessel is heading to a repair yard after being damaged in a collision in Singapore. Awilco LNG prepares for improving but volatile gas market The Norwegian owner said the 156,600-cbm WilForce (built 2013) was "struck by another vessel" on 30 May. TradeWinds understands the ship was in collision with a newbuilding, Nisshin Shipping's 39,300-dwt open-hatch bulker Western Moscow. No
Shearwater and CGG team up on Eidesvik seismic fleet deal Norway's Shearwater GeoServices is forming a new seismic shipping alliance with Paris-listed CGG. Shearwater will buy five high-end streamer vessels and two additional "legacy ships" jointly owned by CGG Marine Resources Norge and Norwegian company Eidesvik Offshore. Eidesvik Offshore sees seismic boost after smaller first-quarter loss Rasmussen Group set to profit from Shearwater seismic ships
Connections, knowledge and heritage keep Norwegian shipbrokers at the top table 'Strong reputation' and providing 'clients with a complete tool box' ensures Norway remains one of the world's best broking centres but a 'definite age gap' in the sector 'needs to be filled'
Okeanis in pole position as tanker owners await payback on VLCC newbuilding orders Alafouzos family company lands largest book gain since start of 2017 with $121m increase on the contract price for eight new vessels, with Angelicoussis in second
Allianz: Asia Pacific top region for casualties in 2018 Insurer says South China, Indochina, Indonesia and the Philippines remain accident blackspots.
Total to acquire Toshiba's US LNG business French oil major says deal is set to make it one of the leading US LNG exporters by 2020.
Fearnley's 16% shipping return draws doubts and praises While shipping has the unwanted reputation of low returns in recent years, Norwegian brokerage claims to have achieved average annual return of 16% in the past two decades.
Ampelmann seals debut Norway offshore contract Dutch offshore service provider says walk-to-work project due to start in June aboard Normand Jarstein.
South Korea cedes aframax top spot to Chinese shipbuilders China takes advantage of their South Korean counterparts' financial troubles and higher prices to corner the market for newbuilds
Feen Marine launches plug and play scrubber in a box Batam-based scrubber maker says SOx Box simplifies installation and cuts costs
Number of ship total losses lowest in a century But Allianz's Baptiste Ossena says that the "lack of an overall fall in shipping incidents, heightened political risks to vessel security, complying with 2020 emissions rules and the growing number of fires on board bring challenges."
House Appropriations approves FY2020 T-HUD bill The legislation, which was favorably reported to the House by a 29-21 recorded vote, provides $137.1 billion in budgetary resources and includes $75.8 billion in discretionary funding.
FMCSA taking applications for younger CMV driver pilot The pilot program allows a limited number of drivers ages 18 to 21 to drive CMVs in interstate commerce if they possess the military equivalent of a CDL.
Final rule to further restrict air and vessel travel to Cuba Effective Wednesday, the rule will amend the Export Administration Regulations' aircraft, vessels and spacecraft license exception.
Crude settles higher as equity markets rally Crude oil futures settled higher Tuesday, moving from the morning's negative territory into the black as equity markets rallied.
Port of Rotterdam handles record number of containers in April The total volume of container freight handled in Rotterdam in April hit 13.6 million mt.
External: Global Risk Management
Awilco LNG says no bunker fuel spill after WilForce hit by ship off Singapore "The vessel has full insurance cover for repair expenses and loss of hire, subject to a deductible," Awilco LNG said.
Global growth concerns continue to weigh on crude complex "US production levels continue to look really strong," said Tradition Energy analyst Gene McGillian.
Glencore's head of oil trading Alex Beard to retire this month Beard's exit follows the recent retirement of Chris Mahoney, the head of Glencore's agricultural business, and top copper executive Aristotelis Mistakidis.
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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