VIDEO: ABB adds new midsize range to Azipod line ABB is introducing a new midsize range of Azipod propulsors covering the 7.5 - 14.5 MW power range. The range is aimed at the ferry and RoPax sector, but will also be
Vard to build second ship for Coral Expeditions Australian expedition cruise operator Coral Expeditions has placed an order with Vard for a second 93.4 m, 120 passenger ship. This follows the April delivery of its first Vard ship, the Coral
OMSA forms Wind Committee The Offshore Marine Service Association (OMSA) has formed the OMSA Wind Committee, with membership now open to all association members. Among its priorities will be to work to ensure that U.S. offshore
Foss names Mike Welch CFO Mike Welch, has joined Foss Maritime Company as Chief Financial Officer (CFO). Prior to joining Foss, Welch was Vice President of Finance at Esterline Control & Communication Systems, where he oversaw the
Switch to Shell Gadinia brings 58% cut in lubricant costs Shell Marine says that results from Indonesia's PT Indo Container Line (ICON Line) are clear evidence of the cost savings available by using its medium-speed engine oil Shell Gadinia. Calculations made immediately
StormGeo offers new versions of route optimization system Weather intelligence and routing specialist StormGeo has launched new versions of its best-selling route optimization system, BVS: NaviPlanner BVS and NaviUpdate. NaviPlanner BVS simplifies the process of planning and optimizing a route,
WSM takes 50% stake in Norsea Wind Norway's Wilhelmsen Ship Management (WSM) is strengthening its foothold in the renewable wind energy market by taking a 50% stake in Norsea Wind AS. Tananger, Norway, headquartered NorSea Wind, founded in 2016
MAN wins Seaspan ferry propulsion system order The two 149 m LNG battery hybrid RO/RO ferries recently ordered by Canada's Seaspan Ferries (see earlier story) may look a lot like the pair delivered to the operator last year, but
Shipping chiefs urged to take lead in digital transformation Maritime leaders should focus on the business opportunities and needs, and then identify where digital solutions can play a part...
UAE probe into tanker attack continuing Al Kaabi was speaking to Lloyd's List on the sidelines of the IMO's Maritime Safety Committee meeting, which has opened...
From tankers to the Cutty Sark - Paddy Rodgers on his career move Starting in August, Rodgers will take over from outgoing director Kevin Fewster, who is widely credited with developing the museum...
IMO in race against technology to develop autonomous shipping guidelines The IMO is casting its eye over a set of proposals that would try to standardise the rules that govern...
BPA urges 'grown-up' conversation about scrubber use 'Ports take their environmental responsibilities seriously and with IMO targets, ships will have some tough decisions. However, we must have...
Scrubber use could lead to 'long-term pain' Golden Ocean and Wallem call on charterers to require and incentivise change of owners' behaviour
Russia's rising coal shipments supportive for dry bulk market Coal shipments to Europe rose 15% to 28m tonnes in the first quarter, according to DTC
Teekay closes $250m private offering The provider of international crude oil and gas marine transport services has signed off on two significant deals
MSC in $1.1bn bid for Valencia port expansion Terminal Investments Ltd's sole bid for Valencia's new terminal could see it in operation by 2024
Combustion engine is here to stay, Wärtsilä says Marine engine manufacturer believes bio liquefied natural gas and synthetic liquefied natural gas are the industry's best shot at meeting...
MPC Container Ships starts share buy-back programme Any acquired shares may be used as consideration in acquisitions or other transactions
Daily Briefing Sustainable finance tightening will cut off ship financing for smaller companies | Allianz ship total losses at record low |...
US-China trade spat not a major LNG shipping concern For now, third-country offtakers such as Saudi Aramco have stepped in to back projects such as Sabine Pass Train 6...
Academics urge industry's leaders to cultivate agility Changes are needed in the way decisions are made and innovators will rise to the top while traditionalists will be...
Shipping must guard against cyber-complacency, Bureau Veritas advises No one seems to be talking about recent cyber attacks, says BV's lead on smart shipping, although workshops on how...
Speed controls to be biggest factor in CO2 cuts for 2030, ABS says New ABS outlook sees no clear cut solution at the moment to slash emissions by half by 2050
Dynagas posts profitable first quarter, may have to cut distribution Dynagas LNG Partners finished the first quarter in the black, but its efforts to refinance upcoming debt might force it to axe distributions. Dynagas returns to Hyundai Heavy to beef up on LNG carriers Shareholder lawsuit targets Dynagas over cash flow and dividend claims The Tony Lauritzen-led company posted $1.9m in profit for the first three months of 2019, two cents lower than the $0.01 los
Cruise majors cancel voyages to Cuba 'immediately' Trump administration has banned US cruises to the communist country in response to its support for Venezuela's Nicolas Maduro regime.
Delos partner rips Ladin as 'scam artist' Explosive Texas lawsuit charges prinicipal of Texas private-equity firm diverted millions to fund lavish lifestyle.
New Fortress Energy slides into LNG shipping New Fortress Energy is expanding its interests into LNG shipping as it grows its small-scale production and import business in the US and the Caribbean. The newly-listed energy infrastructure company is moving to recruit a "head of shipping" to "drive the commercial aspects of the shipping business". New Fortress Energy outlines growth plans after US listing The job entails chartering, buying a
BHP trials biofuels with John Fredriksen's Golden Ocean Rashpal Bhatti says mining giant 'can't stand still' when it comes to alternative fuels
Diana Shipping fixes cape with SwissMarine Simeon Palios-led bulker owner now has 18 ships chartered to Geneva-based dry bulk player.
Westgarth focuses on 'main business' at V.Group with any IPO likely to look after itself New V.Group chief executive Graham Westgarth has placed his focus on operations rather than a long-anticipated initial public offering for the world's largest shipmanager. Westgarth took over from Ian El-Mokadem in April after a career spanning three of the world's best-known public shipping companies, AP Moller-Maersk, Teekay and Peter Livaos' GasLog. Graham Westgarth steps up after chief execu
Christian Bonfils sees potential 10% fuel saving from new technology pilot for BW Dry Christian Bonfils believes a pilot project being undertaken by BW Dry Cargo has the potential to cut the company's fuel bill by up to one-tenth. If it is successful, the bulker owner's managing director suggested it could be used to the same effect by the wider BW Group. BW Dry Cargo quietly picks up kamsarmax bulker resale BW Dry Cargo is testing Miros speed measuring technology - designed fo
Tankers and gas are most promising shipping sectors, says Clarksons research chief Clarkson Research Services managing director Stephen Gordon has picked oil and gas shipping as the most promising shipping sectors while putting down dry cargo. In the Japan Ship Exporters' Association seminar during Nor-Shipping, Gordon pointed out the bulker markets are pressured by demand weakness, while US energy exports and the IMO 2020 rules offer support to tanker and gas carriers. John F
World far from ready for sulphur cap, Veniamis says Regulators risk "losing their sleep" over fallout on shipping from shoddy enforcement of 0.5% fuels, UGS chief warns
Yasuhiko Katoh tackles 10 questions about shipping President of the Japan Ship Exporters' Association and chairman of the Shipbuilders' Association of Japan discusses how the industry should be moving forward
Tracker reveals details of LNG carrier and bulker collision One of Awilco's two LNG carriers sustained damage to its port side in a collision shortly after leaving a repair yard off Singapore in ballast. Ship tracking data provided by Marine Traffic shows the bow area of the 156,600-cbm WilForce (built 2013) came into contact with the 39,300-dwt open-hatch bulker newbuilding Western Moscow. Awilco LNG carrier damaged in collision LNG carrier and VLCC in
More than $380m wiped off P&I mutuals' free reserves Sudden reversal in year-on-year growth of free reserves, but things are not as bad as they first appear
Hagen calls off cruiseship christening after collision Norwegian shipowner Torstein Hagen is cancelling tomorrow's christening of newbuilding Viking Jupiter following a fatal collision involving one of his ships in Hungary last week. Clash involving Viking ship kills seven in Hungary The ceremony for the 750-foot vessel was due to take place near the Akershus castle to coincide with this week's Norshipping event. But the incident in the Danube at B
Ship Finance International chief Ole Hjertaker raises concern after US analyst exits Shipowners are still getting 'good coverage out of Oslo' despite worries created by the trend of shipping coverage losses at leading US investment banks, where regulation is also seen as a contributing factor in the demise
United Heavy Lift outlines focus on Africa as new faces ring in changes Project specialist strikes deal with Spanish operator as new shareholders chart fresh direction
If shipping markets are broken, how can market solutions be the answer? Only a global, WTO-based regime can end the industry's cycle of boom and bust
Awilco LNG fixes carrier for eight months Norway's Awilco LNG has won an eight-month charter for one of its two LNG carriers. The company said the 156,000-cbm TFDE ship WilPride (built 2013) has been committed to an oil and gas major from July. Awilco LNG carrier damaged in collision This is contingent upon customary vessel inspection and acceptance by the charterer, it added. The deal should contribute annualised EBITDA of about $23m
HHI develops LNG VLCC with sail power South Korea's Hyundai Heavy Industries has designed an LNG-fuelled VLCC that will also use wind power. Rotors predicted to double fuel savings on deepsea routes Flex LNG to become first Fredriksen firm with in-house management Class society Lloyd's Register has approved the eco-prototype, which will use a combination of volatile organic compounds (VOC) mixed with LNG as fuel. The ship will com
CMA CGM sues Long Island's Avani over $1.3m oil spill CMA CGM is suing a Long Island waste-oil management company, alleging it caused a spill by improperly storing cargo. Ridgebury Tankers master acquitted in pollution case Underwriters head to top UK court in scuttled bulker case The French containership giant filed a $1.3m lawsuit in Brooklyn federal court last week against Avani Environmental Group. The case will run in parallel to legal proc
Nigeria sweetens national fleet terms after PIL withdrawal Nigeria is sweetening the project terms for its national fleet to attract foreign investors following the withdrawal of Pacific International Lines (PIL). Shipping a viable investment again but shipowners must face up to future challenges According to the Nigerian Maritime Administration and Safety Agency (NIMASA), the fleet will be given the priority to carry up to 50% of state-owned cargoes in
Piraeus Bank spins off $30bn 'bad bank' Greek lender strikes deal with Intrum as it reveals impending sale of $564m shipping book.
Banks make restructuring offer to Bourbon French OSV giant Bourbon has received a financial restructuring offer from its main lenders and lessors. The deal is dependent on a number of conditions being met, it said. Bourbon takes five PSVs out of layup Bourbon PSV escapes pirate attack The company, hit by the OSV downturn, had already indicated in March that a number of offers had been submitted, subject to due diligence, and that it r
Carnival's European emissions '10 times that of all cars' Emissions from cruiseships in Europe are far outstripping those from every car on the road, it has been claimed. Green group Transport & Environment (T&E) said its analysis shows that in 2017 Carnival vessels pumped out nearly 10 times more sulphur oxide (SOX) around European coasts than 260m vehicles. Carnival to pay $20m fine for continued polluting The figure for Royal Caribbean Cruises (RCC
17 missing after cargoship sinks Indonesian authorities were still seeking 17 people missing after a cargoship sank off Banggai Laut on Tuesday. One person was rescued from the vessel, named as KM Lintas Timur, according to the Sumsel Update website. The ministry of transportation has deployed patrol boats in the area. The vessel was on its way from Bitung in North Sulawesi to Morowali in Central Sulawesi at the time of the in
Samos Steamship sheds MR tanker tonnage Greek player Samos Steamship is said to have sold two MR tankers, just weeks after ordering a suezmax newbuilding in Japan. The deals come as further evidence of activity in the product tanker sector involving Greek companies on both sides of the sale-and-purchase fence. Samos Steamship secures healthy rate for LR1 in Trafigura charter Samos Steamship's Inglessis takes UK P&I Club chair The
Paddy Rodgers makes radical career switch Former Euronav chief executive steps away from the commercial front line to head one of the world's leading maritime museums
Price disconnect spurring buyback binge The gap between equity prices and earnings is driving a big shipping share buy-back drive, according to Jefferies analyst Randy Giveans. Eleven of the 28 companies it covers have bought stock since the fourth quarter, and another four have now authorised purchases. MPC Container Ships launches $24m buyback Maersk starts $1.5bn buyback programme Maersk is targeting a $1.5bn programme and Oslo-l
MPC Container Ships launches $24m buyback Oslo-listed MPC Container Ships has launched a buyback worth up to $24m. The company said it will acquire as many as 8.255m of its own shares through to next June. Together with previously repurchased stock, this represents up to 10% of its capital. MPC Container Ships keeps powder dry to make most of possible market recovery It will pay not more than NOK 200 each for a total outlay of NOK 209
Offers in for $11bn of Eurobank assets Greek shipping lender Eurobank has received offers for portfolios worth EUR 9.5bn ($10.7bn) as it continues to restructure. It said sales have been provisionally arranged for a EUR 2bn securitisation of residential mortgage non-performing exposures (NPEs), code name Pillar, and for the first multi-asset- class NPE securitisation of EUR 7.5bn, known as Cairo. It will also sell a majority stake in
Wilhelmsen's Benedicte Teigen Gude becomes 11th Norwegian woman to climb Everest Benedicte Teigen Gude, a well-known shipping figure at the giant Wilhelmsen group, has become only the 11th Norwegian woman to stand on top of the world having successfully climbed Mount Everest. Gude reached the summit on 23 May in a climb undertaken with her husband, real-estate investor Gaute Gude Teigen, who was also previously with the shipping firm. The pair took around two months off wor
Heidmar chief James Pippard to leave pool firm Former Teekay man to leave as head of Connecticut pools power midway through three-year contract, market sources indicate
Analyst: U.S. losing focus on goal of talks with China As the Trump administration ratchets up Section 301 tariffs on China, it appears it is directing less attention to the overarching goal of balancing the bilateral trade and investment relationship, a witness said in testimony before a Senate committee on Tuesday.
Big ships raise concerns in insurance industry "Insurers have been warning for years that the increasing size of vessels is leading to a higher accumulation of risk," says Allianz.
Nikakhtar urges updated export controls Senators press BIS nominee on the administration's failure to release details of Commerce's national security investigation into automobile and related parts imports.
SISI: Throughput at global ports slowed down in Q1 The Shanghai International Shipping Institute points to "feeble economic and trade growth" in a recently released report.
FUJAIRAH DATA: Oil product stocks slip for 1st week in four, led by middle distillates Refined product stocks at the Middle Eastern hub of Fujairah in the UAE fell for the first week in four.
Crude settles lower on US inventory builds Crude futures fell Wednesday after the US Energy Information Administration reported US crude stocks rising.
JAPAN DATA: May 26-Jun 1 oil product exports jump 46.6% on week to 4.98 mil barrels Japan's oil product exports jumped 46.6% week on week.
Flurry of Rotterdam fuel oil barge trade, tight prompt market The 3.5% sulfur FOB Rotterdam barge market saw a flurry of activity during the Tuesday session on tight prompt availability for RMG grade bunker fuel.
China's Sinopec to supply key domestic, overseas ports in 2020 on reaching 10 mil mt/year LSFO capacity "We will fully meet demand from China's bonded bunkering ports," Xueling said.
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