Tim Protheroe joins Bureau Veritas Bureau Veritas has appointed former Lloyd's Register Americas President Tim Protheroe as Regional Chief Executive, Marine & Offshore, North America. His role includes responsibility for the marine operational client support teams and
Quark newbuild to have Evac solution that includes BWMS An expedition ship under construction by Croatia's Brodosplit shipyard for polar cruise specialist Quark Expeditions will be the first vessel to be installed with an Evac Complete Cleantech Solution that also includes
Norsepower notches up first-ever auxiliary wind certification Helsinki, Finland, headquartered Norsepower Oy Ltd. reports that its Rotor Sail Solution has received the first-ever type approval design certificate granted to an auxiliary wind propulsion system onboard a commercial ship. The
Japan Marine United to build LNG bunkering tanker A bunkering tanker just ordered at shipbuilder Japan Marine United will be the first in Asia able to supply both LNG and IMO 2020 compliant low sulfur fuel. The ship has been
MAN unveils new digital platform MAN Energy Solutions has introduced its new digital platform. Called MAN CEON, it intelligently collects and evaluates operating and sensor data, and enables the real-time monitoring of marine or power-plant engines, turbines
The Lloyd's List Podcast: Our outlook from the US Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
The Lloyd's List Podcast: Our outlook from Asia Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Genco secures financing for scrubber installations Update: Genco looking to sell seven 53,000 dwt supramaxes majority built in 2009
Wilhelmsen picks closed-loop for a third of fleet Contrary to some people's misconceptions, this judgement call was made before the trend for open-loop bans took off, one executive...
More mergers and acquisitions ahead, says Citi's Volpicelli Athens conference told there is confidence that M&A activity in shipping will continue and that before long the capital markets...
Berenberg bank raided in Hapag-Lloyd insider trading probe Spokesman for Berenberg tells Lloyd's List: 'We are co-operating fully with the authorities and we fully believe that the suspicions...
Panalpina 'in right shape' to make acquisitions, says Karlen Stefan Karlen says the group is positioned to absorb any kind of acquisition, including one the size of Kuwait-based Agility...
Norden expects profit boost in 2019 on 'asset-light' model Copenhagen-based company is expecting adjusted profits of between $25m and $60m this year
Torm joins Inatech on app to tackle bunker complexity post-2020 With 10 months to go before the IMO's global sulphur cap brings a fuel price rise, the Smart Trader app...
China's oil imports slow but gas holds out: WoodMac Natural gas demand in China may continue to see double-digit growth, but its oil imports are predicted to slow along...
Asia-North Europe trade set for further weak growth Since 2011, the compound annual growth rate of the westbound Asia-North Europe trade 'is a miserable 1.3%', says Drewry
Maersk set to appoint new board members in reshuffle Bernard L Bot and Marc Engel, of Travelport Worldwide and Unilever UK respectively, will be appointed as new members of...
RCL expands service network in India The new service will deploy two feeder vessels to shuttle between Calcutta and Port Klang
Panalpina backs one share, one vote ahead of crucial meeting EGF has requested that Panalpina lifts shareholder voting restrictions in favour of a one share, one vote regime
Daily Briefing Sulphur cap is example of 'shallow' regulation, Platsidakis says | Index-linked contracts open the door for container freight derivatives |...
Box shipping's digital orchestra is out of tune Box shipping's new standard-setting body wants to bring a common language to containerised cargo's diversity and scale
Jaxport approves deal for new container terminal The deal will increase Jaxport's significance on the US East Coast
Nordic American Offshore hit by impairment A $160m impairment is one adjustment, a new capital structure and financing another
Carriers face testing time in pushing through fuel charges Delays in recovering rising fuel costs in the past indicate that container lines may struggle in their efforts to push...
Growth is slowing, but no recession in sight for 2019 The probability of a recession is not high, he said but added that it does not take 'much to push...
IMO 2020 warning: 'It will not go smoothly' The 'IMO scramble' will not be the last disruption facing the maritime industry owing to the changing global conditions taking...
IMO 2020 warning: 'It will not go smoothly' The 'IMO scramble' will not be the last disruption facing the maritime industry owing to the changing global conditions taking...
Fuel price rises are unavoidable, says Hapag-Lloyd chief Carrier customers will need to contribute to the increased cost of fuel regardless of what the eventual spread is between...
Capesize rates 'don't make sense' Figures for these dry bulk vessels should 'come back' by May, according to Genco Shipping & Trading chief executive John Wobensmith.
Ship operators urged to train crews for IMO 2020 Crews will be at the front line to deal with fuel compatibility issues post-2020.
IBIA calls on the IMO to enhance bunker testing mechanism The International Bunker Industry Association (IBIA) has called for a consistent testing method for sulphur levels in bunker fuels that allow a margin of error in an attempt to avoid thorny legal issues when IMO 2020 rules come into force. While the IMO has required vessels to switch to 0.5%-sulphur fuels from next January, IBIA, which represents bunker players, suggests there remains a lack of u
Diana Shipping fixes Newcastlemax with Koch Simeon Palios-led bulker owner expects $9.1m off the deal.
Global Ship Lease narrows loss Ian Webber-led boxship owner stays in the red on another impairment hit.
Tidemand protest finally forces Teigen into mandatory offer for Belships Tidships' backers say the appeal is an important development in safeguarding the interests of minority shareholders
Dof vessels win new contracts in Norway and Scotland Dof Subsea has fixed two of its vessels on contracts supporting subsea inspection, maintenance and repair (IMR) and offshore windfarm projects. Chevron extends Dof PSV timecharter Dof wins $50m in contracts in Guyana, the Red Sea and Mediterranean The company's 70-metre-long survey and IMR vessel Geograph (built 2007) has won a contract from the Norwegian Mapping Authority that will run until t
Layup list cut as anchor-handlers sell out The Norwegian anchor-handler market sold out on Tuesday, leading to the reactivation of a laid-up vessel. Broker lists showed 14 fixtures completed after a fallow period. Charterer Well Expertise fixed four vessels operated by Solstad, K Line, Siem and Island for the Transocean Arctic rig move. And Total and Aker BP also took seven between them at rates of up to NOK 250,000 ($28,900) per day an
Genco lands scrubber financing as it logs fourth quarter profit The New York-listed company has secured additional funds for scrubbers onboard its larger vessels.
Atlantska Plovidba profit falls 89% Croatian bulker owner Atlantska Plovidba has seen profit shrink 89% in 2018. The company's net earnings were HRK 9.2m ($1.4m) last year. Revenue dropped 32% to HRK 393.6m, while overall costs were 23% lower at HRK 384.3m. Atlantska has a fleet of 13 ships.
Jan Rindbo: sale and purchase still part of Norden's DNA in asset light era Asset play will remain part of Norden's identity despite the Danish shipowner's shift to a more asset light approach, its chief executive says. Norden tips tankers to help extend profitable run to three years in 2019 Christensen sees dry cargo growth at Norden as an 'unstoppable engine' Norden today projected a higher profit for 2019 after turning in a higher result for 2018 backed by a strong
Terminal left out of loop as US crude exports soar The only deepwater US Gulf oil export facility fails to reach its potential because of its location and domestic demand for sour crude
The other 2020 deadline: Is shipping ready for IHM? Too little attention is being given to meeting requirements that ships carry an Inventory of Hazardous Materials (IHM) after 31 December 2020, experts claim
Paris MOU bans defective trio The Paris MOU port state control body has barred three cargoships after they failed their third safety checks in three years. Paris MOU bans another corroded cargoship Two are flagged in Moldova and one in Comoros, registers which are all on the organisation's black list. They were all banned for three months. The 1,600-dwt Elg (built 1983), operated by Adoken Shipping of Turkey, was held in Gi
Duncan Eley dips into his pocket to raise stake in Polarcus Polarcus chief executive Duncan Eley has raised his interest in the company at the same time as other executives have put more skin in the game. Eley has increased his holding by 31% through the acquisition of 150,000 shares at a total cost of around NOK 184,500 ($21,300). Following the transaction, he owns 639,616 shares in Polarcus, equivalent to 0.12% of the company's outstanding share cap
Total buys into Novatek's Arctic LNG 2 French oil major Total has snapped up a 10% stake in Novatek's big new Russian LNG export project. The Arctic LNG 2 transaction, at an undisclosed price, will be finalised in the first quarter, Novatek said. Cost estimates for the project are between $20bn and $21bn. Natural gas reserves are reported at 2 trillion cbm. Total's payment will include financing for the project, for which Novatek ha
New Zealand: India now has 'world class' recycling yards Scrapping of oiler was a baptism of fire for the navy, but it believes the outcome was positive and shows how the industry is changing.
Friedman talks top deals that Evercore worked on in 2018 Evercore senior managing director Mark Friedman describes some of his firm's major advisory deals from 2018: Friedman talks top deals that Evercore worked on in 2018 Capital Product Partners' spin-off/combination with Diamond S Shipping: "I think it's one of the most creative M&A deals done in the industry. For Diamond S, it provides an efficient entry to the capital markets - and does so in a w
Brazil's exploration plans offer ray of hope for OSV demand But Petrobras' aim to increase spending may only make modest impact
Russia plans to triple LNG exports in the next decade Ice-class ships will be needed as 'gas colossus' prepares to move on three main fronts
Evercore expert predicts slow year for consolidation efforts Mark Friedman says conditions that made for busy M&A year in 2018 have worsened amid shipping's equity sell-off
New spot venture and refinancing provide two 'triggers' for Awilco LNG Involvement in a developing spot market shipping venture and the refinancing of debt on two ships are expected to be positive catalysts for shares in Awilco LNG, Arctic Securities has said. LNG giants warn of owners digging an overcapacity hole Awilco is expected to join Tor Olav Troim's Golar LNG and Christos Economou's TMS Cardiff Gas in creating in a new platform that will bring their spot sh
Bridge cam captures drunken master's rampage Footage from a Russian cargoship has shown how it managed to steer into a Korean bridge last week. The 9,700-dwt Seagrand (built 1986) took a chunk out of the Gwangan Bridge as it left the southeast port of Busan on Thursday. The master was found to be over the limit for alcohol, but claimed he started to drink after the collision, the Yonhap news agency reported. The rampage began earl
Van Oord orders water-injection dredgers Dutch owner Van Oord has signed up for two new water-injection dredgers at a domestic yard. The 300-gt vessels will be delivered from late 2020 by Kooiman Marine Group. The multifunctional units come with a hybrid system that can store energy in batteries from residual heat that is normally lost. This energy is subsequently used for purposes including propulsion. Diesel-electric engines will al
Tanker demolition deals plummet as scrapping activity switches to dry bulk Tanker scrapping activity has crashed at the start of 2019, at the same time as activity has ratcheted up in the bulker market, according to data from a leading Greek brokerage. Allied Shipbroking said just 15 tankers have been sold for demolition so far this year, plummeting from the 53 tankers beached by this stage in 2018. VLCC scrapping set for respite before regulation-driven spike Bulker
KfW leads financing for AIDA cruiseship Germany's KfW IPEX-Bank is structuring the financing for a new AIDA Cruises vessel powered by LNG. The 183,900-gt cruiseship is the third being built for the Carnival company at Meyer Werft in Germany. The first entered service at the end of 2018. "The green cruising concept means AIDA is the world's first cruise operator to run its new generation of ships on LNG, thus reducing the emission of
Libya's NOC lifts force majeure at Sharara Libya's National Oil Corporation (NOC) has lifted a force majeure at the Sharara oil field after the removal of an armed group. The militia was blamed for its blockade and a production loss of $1.8bn since the field was seized in December. NOC said that Sharara operating company Akakus has received written assurance from the Libyan National Army's brigadier general Al Rifi Kennah Ahmed Ali, comm
Norden tips tankers to help extend profitable run to three years in 2019 Improvements in the tanker market will help Danish shipowner Norden to a third successive year in the black in 2019, the company predicts. Copenhagen-listed Norden is guiding for an adjusted result of between $25m and $60m this year, ahead of the $20m reported for 2018. Christensen sees dry cargo growth at Norden as an 'unstoppable engine' Norden confirms Diamond S MR tanker swoop Jan Rindbo,
Italian banks face shipowner backlash over sale of debt Pillarstone's acquisition of $350m of distressed Italian shipping debt and the cancellation of the fleet auction of bankrupt RBD Armatori are provoking a backlash in shipowning circles. Italian shipowning and financial sources believe banks have caved in by selling Italian shipping debt to private equity players on the basis of unrealistic expectations. A court auction of RBD's fleet of 13 tanke
Skuld to focus on diversification after withdrawing from Lloyd's Oslo-based mutual says retreat will not affect plans to develop a broader and more efficient service to serve its P&I members
Celebrity Cruises' Captain McCue demands respect Celebrity Cruises' Captain Kate McCue has a novel way of welcoming guests onboard the 2,850-passenger Celebrity Equinox (built 2009). "This is Captain Kate, but you can call me Captain because it took me 19 years to earn this title," she regularly says, according to the New York Times. She told the newspaper: "People don't have a tendency to call men captains by their first name." In 2015, McCu
Bunker tanker spills fuel in Canada Canadian ferry owner Marine Atlantic has revealed a bunker leak from a tanker in Port aux Basques. It said the 3,600-dwt North Atlantic Kairos (built 2008) had suffered a spill on Sunday. The company added it had been working with the Canadian Coast Guard "regarding observation and response activities." A boom was placed around the tanker. Alarm sounded over continuing leaks from grounded bulke
Dutch ratify recycling regulations The Netherlands has signed up to the IMO's ship recycling convention almost exactly a decade after it was first agreed in Hong Kong. Eight countries have now ratified the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships (Hong Kong Convention). TradeWinds is marking the tenth anniversary of the Hong Kong Convention with a ship recycling conference in Hong Kong this w
Mind the gap: charterers' bonuses examined Senior freight trader bonuses are hugely outstripping payouts for "traditional" chartering staff, according to recruitment specialist Spinnaker Global. It said the highest-level staff earned bonuses 18 times bigger than colleagues, using figures from the Maritime HR Association, which is managed by Spinnaker. The annual survey for 2018 gathered data for 25,000 shipping professionals globally, in
Nokia, Geoquip snap up Toisa PSVs Details have emerged of two more sales from the fleet of bankrupt Greek owner Toisa. It is thought all the disposals have now been finalised after Chinese owner China Sunrise wrapped up an en-bloc deal for six PSVs last week. Toisa OSV fleet sale complete as China Sunrise buys sextet The 4,800-dwt Toisa Warrior (built 2011) has been sold to subsea cabling business Alcatel Submarine Networks for
Port of Tyne seals $79m Lloyds Bank refinance deal North East England port says funds will go towards a number of major infrastructure projects.
Reactor restarts to cut Japan LNG imports by 10% in 2019 Australia, Qatar and Malaysia likely to feel any impact as they supply the bulk of cargoes.
New Zealand detains Wisdom Marine bulker over unpaid wages Second time in less than a year Taiwan owner has had ship detained for not paying crew.
Three crew kidnapped from tanker off Guinea Three Romanian seafarers have been kidnapped by pirates from a product tanker in the Gulf of Guinea. IMB: Piracy ticks up in 2018 after back-to-back declines The 40,000-dwt Histria Ivory (built 2006) was attacked by pirates near Lome, Togo, on Sunday evening. The remaining 18 members of the Maltese-flagged vessel avoided capture by locking themselves in the ship's citadel. They were uninjured.
IMO 2020 low-sulfur regulation costs weighed Demand for container shipping in the transpacific was another major topic at TPM19.
BIS pockmarked by vacancies Nazak Nikakhtaris, assistant secretary for industry and analysis at the Commerce Department's BIS, also will perform "nonexclusive duties" of the agency's undersecretary for industry and security post.
Commerce launches probe into titanium sponge imports The Section 232 investigation begun Monday is in response to a petition filed in September by domestic producer Titanium Metals Corporation.
U.S. to remove India and Turkey from GSP Trump administration says India failed to meet certain conditions to stay in program, while Turkey no longer needs preferential trade access to the U.S. market.
China's pledge to cut VAT gets cautious welcome from commodity markets
Crude treads water ahead of Wednesday's EIA inventory report
Novorossiisk bunker fuel value catches up on Istanbul
Fujairah's Feb bunker premium drops over 30% on month on ample supply
Mexico's energy secretary criticizes upstream secondary market, private participation in Pemex's refineries
External: Marine Bunkering(Rotterdam)B.V.
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Heavy crude outperforms light in Asian low-sulfur market Fuel oil margins have been near record highs since late last year.
First low/high sulfur fuel Singapore quarterly spread trades on ICE Traders predict volatility for the spreads to increase as markets get closer to 2020.
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