Kongsberg signs up for KVH Watch IoT connectivity Middletown, R.I., headquartered KVH Industries, Inc., (Nasdaq: KVHI), reports that Kongsberg has become the first major partner for its KVH Watch IoT connectivity as a service offering. 'KVH Watch will provide
Ship total losses fell in 2018 Large shipping losses are now at their lowest level this century, declining by over 50% year-on-year, according to insurer Allianz Global Corporate & Specialty SE. Its latest annual Safety & Shipping Review,
Boilers, too, face IMO 2020 issues A century ago, when the first marine boiler left the Aalborg Shipyard in Aalborg, Denmark, there were no regulations governing fuel content or vessel emissions. Things have changed since then and, as
First Iridium GMDSS terminal now available Iridium Communications Inc. (NASDAQ: IRDM) and partner Lars Thrane A/S have unveiled the LT 3100S terminal. This is the first shipboard terminal designed to meet Global Maritime Distress and Safety System (GMDSS)
Christian Vaccari to lead Gulf Island Shipyard Division Gulf Island Fabrication, Inc. (NASDAQ: GIFI) has appointed Christian Vaccari as Executive Vice President of its Shipyard Division. Vaccari previously served as Senior Vice President, Business Development, of the Shipyard Division. "I
Inmarsat inks first of its kind agreement with HHI subsidiary Inmarsat has signed a business cooperation agreement with shipbuilder Hyundai Heavy Industries digital solutions subsidiary Hyundai Global Service (HGS) that paves the way for HGS to use Inmarsat Fleet Xpress dedicated bandwidth
Total Maritime Solutions and NAVTOR sign MOU Developed by Fort Lauderdale, Fla., headquartered Total Marine Solutions (TMS), the Ocean Guardian digital tool provides shipboard operators with immediate access to environmental regulations around the world. Now, TMS has signed a
IR Class eyes bolstering its fleet by a third The Indian Register of Shipping will focus on increasing registered tonnage from the current 1,900 ships, or 13m gross tonnes...
The Lloyd's List Podcast: Why shipping can't solve its problems alone Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Norway successfully tests remotely controlled vessel A set of successful trial voyages using a remotely controlled ferry in Norway will add to the growing interest about...
Matson starts scrubber installations The scrubbers will be installed on three of the vessels this year, with rest expected to be fitted in 2020
K Line sails into the future with Airseas tie-up Airseas anticipates further major shipping deals to follow in the next six months as interest in kite technology sees a...
Dynagas profit falls on lower charter values Lena River will be employed on a long-term charter with Yamal LNG from July
Lloyd's Register calls on IMO to bring forward cyber security timeline Waiting for the IMO to deliver cyber security guidelines in 2021 may yet prove to be too long a wait...
Greeks bemoan 'chaotic' sulphur cap implementation Likened to the switch from sail to steam, the implementation of new sulphur content rules from January 1 next year...
Nigeria leads push for Africa's maritime commitment Africa has created several initiatives for growth, security and change but a lack of political will has often been the...
Eye in the sky to give shipping complete ocean visibility 'Ocean Finder' will support a range of applications from tracking and locating hijacked ships to monitoring illegal activity and aiding...
Daily Briefing IMO in race to develop autonomous shipping guidelines | Scrubber use could lead to 'long-term pain' | From tankers to...
EPC contract awarded for Mozambique LNG project The award of the engineering, procurement and construction contract is a strong signal the final investment decision will go ahead...
APL boosts capacity into Vietnam with new service The service will also feature comprehensive North Asian market coverage, calling at five Japanese main ports as well as Hong...
Carrot and stick approach to data-sharing Shipping's customers, bankers and insurers will likely have their say on how owners use data
Maersk invests in German trade finance platform The venture capital arm of Moller-Maersk has announced it is investing in Germany-based financing platform start-up Modifi, which is seeking...
Japan looks to unmanned ships to offset labour shortage Nippon Foundation maritime chief explains to Lloyd's List why the organisation supports unmanned vessels
Valles Steamship takes up aframax newbuilding option Valles Steamship has taken up an option for an aframax tanker at Sumitomo Heavy Industries. The Vancouver and Hong Kong-based company, which is controlled by the Koo family, signed the original deal for one 112,000-dwt tanker, with an option, in January this year. Valles Steamship orders aframax tanker at Sumitomo Brokers are pricing the option in the "high $40m-range" which is in line with Cla
Shell 'trials' Prelude FLNG with ship as exports near Energy major says first cargo is 'imminent' as LNG carrier makes initial approach late Tuesday
DS Multibulk retreats from MPP amid focus on tanker business Operator redelivers chartered vessels and cuts workforce in 'strategic rebalancing'
Mediterranean Shipping Co lines up $910m boxship replacement order Contingency planning results in letter of intent with Chinese yard for up to 10 large boxships
Argentina prepares for debut export cargo this week A first export cargo from Argentina is due to depart within days as Exmar's mid-scale barge-based liquefaction unit Tango FLNG gears up production. Tango FLNG starts offloading first cargo By Wednesday, the 0.5 million tonnes per annum capacity floater had already discharged an initial cargo into one tank of a waiting LNG carrier, the 147,895-cbm Fuji LNG (built 2004), which is moored alongside
K Line to fly kites on bulkers to cut emissions The Japanese giant hopes to reduce fuel consumption and greenhouse gas emissions by 20% with Airseas' automated kite technology.
TEN increases profit on robust freight rates US-listed Tsakos Energy Navigation (TEN) said on Thursday it tripled first-quarter profit year-on-year to $11.2m, backed by robust freight rate recovery that continued from the end of 2018. As its tanker newbuilding programme heads towards completion next year, the company said it was now focusing on reaping the benefits from the "positive environment" it expects declining orderbooks and "IMO 202
Hansa adds another stainless steel tanker Norwegian chemical tanker company Hansa Tankers continues to expand with the purchase of another Japanese-controlled vessel. Hansa Tankers pool beefs up on scrubber-fitted tonnage CEO of the Bergen-based company, Hans Solberg, confirmed that the owner has bought Yuyo Steamship's 33,000-dwt stainless steel tanker Bow Tone (built 2009). The ship is now coming off a 10 year timecharter to another
Richard Fulford-Smith sees pre-2014-built ships facing obsolescence Shipbroker Richard Fulford-Smith expects large ships built before 2014 to face becoming obsolete once the the IMO 2020 cap on sulphur emissions takes hold. He said large bulk ships that do not have scrubbers will face uncertainty about what refiners are ready to provide, with dry cargo players more vulnerable than tanker and gas carrier owners. "At the end of the day, it's all about where we go
Lady Luck abandons Kelso & Co as it exits second dry bulk wager New York private equity firm cleaned up on Eagle Bulk's 2005 IPO, but appears underwater on the disposal of Delphin Shipping
Aon warns of double-digit rises in UK cargo premiums Aon has warned that UK 'marine cargo insurance will see some of the biggest increases in a hardening European market. In its latest overview of the Euro'pean sector, the insurance broker said the UK market, including the critical Lloyd's of London and company marine markets, is "entering a more disciplined phase". It also highlighted the 'marine cargo market as "a particular area of concern".
GasLog withdraws LNG carriers from Golar pool JV New York-listed GasLog and spin-off GasLog Partners are withdrawing their LNG carriers from their pooling joint venture with Golar LNG. The Cool Pool focuses exclusively on spot fixtures of up to 12 months in duration, but will now be left with just Golar's tonnage. Tor Olav Troim's Golar LNG edges closer to spinning off shipping fleet Dynagas pulls its trio of LNG carriers from The Cool Pool
Training is no game as increasing autonomy trickles into shipping Officers may find opportunities, but let's not lose sight of crew affected by technology advances
Affiliate of Idan Ofer's Eastern Pacific sues Oilmar over costs An Idan Ofer-connected company is suing Oilmar Shipping & Chartering and Valero over alleged unpaid bills. Tuesday, the registered owner for an Eastern Pacific Shipping-controlled 157,781-dwt Silverway (built 2017), filed suit in Maryland federal court alleging the Emirati company owes it $1.04m, primarily for unpaid demurrage fees and heating costs. The unpaid bills stem from a charter that beg
ECSA calls for end to Turkey's Cyprus restrictions The European Community Shipowners Association (ECSA) wants to see an end to Turkey's barring of Cypriot-flagged vessels from its ports. Cyprus stepping up efforts to overturn Turkish ban Vice president and president-elect Claes Berglund has called for a "political" solution to the ban, which has been in place since 1987. Berglund told CNA that ECSA believes in rules based on a multilateral trad
SGMF to explore boosting the benefits of LNG fuelling Pilot ferry study shows that optimising ship operations in tandem with gas-fuelling brings greenhouse gas emissions cuts closer to 2050 target
ICBC Leasing eyes financing for autonomous shipping Having grown to become one of the world's largest ship financiers in just a few years, ICBC Leasing (ICBCL) is looking to enter a new area: autonomous shipping. With the industry experiencing more digitalisation initiatives and tightening environmental rules, China's largest leasing house is refining its financial model to adjust to the new realities. BHP: LNG bunkering will see 'quantum leap'
Havyard finds buyer for PSV ordered in 2014 Norway's Havyard has found a buyer for an unwanted platform supply vessel (PSV) originally contracted in 2014. Hull 126, listed as the 4,250-dwt Fafnir Viking by Clarksons, was ordered by Iceland's Fafnir Offshore. Havyard bins PSV contract with Fafnir It was cancelled in 2017 after the owner failed to pay an additional pre-delivery instalment. Havyard has now agreed a new shipbuilding contrac
TT Club sees profit soar The TT Club, part of the Thomas Miller-managed stable of mutual marine insurers, has seen its premiums grow and doubled its profits in its latest financial year. The London-based mutual said it earned a surplus of $16.5m in 2018 compared to $7.3m in the previous year. TT Club aims to end boxship blazes as insurers feel the heat Premiums also increased from $181.8m to $195m over the same period.
Cruise lines hit back over emissions claims Cruise lines have made the case for their environmental efforts following analysis that claimed emissions from European vessels were far outstripping those from all the continent's cars. Green group Transport & Environment (T&E) said research showed that in 2017 Carnival Corp's ships emitted 10 times the sulphur oxide of the 260m-strong vehicle fleet, with Royal Caribbean at four times. Carnival
OceanPact scoops Toisa MPSV bargain Brazilian owner OceanPact has landed a bargain as sales continue from the OSV fleet of bankrupt Greek owner Toisa. Seabrokers reported the company as the highest bidder for the 3,400-dwt multipurpose platform supply vessel (MSPV) Toisa Valiant (built 2005), with an offer of $2.3m. Toisa AHTS pair heading to Australia Karadeniz to convert Toisa PSV into powership The ship, which is already base
Fearnleys deepens LNG drive with Paul Kettlety fronting new advisory arm Norwegian shipbroker Fearnleys has added to its leading position in the LNG market with the launch of a new advisory business based in Singapore. Former BG man Paul Kettlety will lead Fearnleys LNG Advisors as managing director having previously worked on a consultancy basis with the brokerage during the past five years. Fearnleys has a team of 18 covering LNG shipbroking, a division led by resp
Key shipping players party on board the Christian Radich With so much talk of change during Nor-Shipping 2019 shipowners, brokers, bankers and other shipping professionals helped TradeWinds retain a firmly established tradition. John Fredriksen top dog among Norwegian owners, who boast fleet worth $60bn There was a new location for the historic sailing vessel Christian Radich for this year's party but no shift in the jovial mood on board as key playe
Singapore places FSL on watch list Singapore tanker owner First Ship Lease Trust (FSL Trust) has been placed on a watch list by the country's stock exchange. It received notification from the bourse that its six-month average price of less than SGD 0.20 ($0.15) and a capitalisation of less than SGD 40m over the same period was in breach of minimum listing criteria. The owner must now take active steps to boost price and market va
ADS Crude Carriers refinances for VLCC surveys and expansion VLCC owner ADS Crude Carriers has fixed new finance that will allow it to carry out intermediate surveys on its three vessels - and potentially expand the fleet. The Oslo-listed company said the surveys are all due to start in the third quarter this year and are now fully financed. Fredriksen and Larsen VLCC venture ADS Crude Carriers pays first dividend The facility will replace existing vesse
Odfjell looks to cut breakeven rates by up to 20% Oslo owner looks to lengthen amortization profile and lower interest burden in effort trim costs.
Improved dry and wet trades key to MOL revival China's demand for commodities and tanker oversupply also key drivers for shipowner.
Hapag-Lloyd cool on potential benefits of mega boxships German liner firm says size isn't everything; draws parallels with failed Airbus A380 project.
South East Asian oil majors snap up Greek aframaxes The tanker arms of Vietnam's PetroVietnam and Indonesia's Pertamina are reported to have bought Sumitomo-built aframax tankers from two leading Greek shipowners. Tanker brokers based in Europe claim that PetroVietnam's tanker arm PVTrans has purchased Tsakos Energy Navigation (TEN)'s 105,000-dwt Sakura Princess (built 2007). A firm price of $23m has been suggested for the deal. VesselsValue said
Oil major Total pays AET a modest hire fee for VLCC Malaysian tanker owner AET has locked one of its 12 VLCCs into a three-year charter with Total at a surprisingly low rate. The French oil major has hired the 320,000-dwt Eagle Vancouver (built 2013) from the MISC Berhad subsidiary for $31,000 per day, according to European brokers. AET's dual-fuelled aframax bunkers first LNG in Rotterdam Total to acquire Toshiba's US LNG business Oslo shipbro
Arrested product tanker fails to sell at second auction A handysize product tanker owned by bankrupt Singaporean fuel trader and tanker operator Coastal Oil has yet again failed to find a buyer at auction. The deep divide between price expectations of the High Court of Singapore and potential buyers of the arrested 24,200-dwt Babylon (built 2017) continued at a second auction held late last week. Officials at the Sheriff of Singapore's office who ran
Brokers warn of serious impacts if Mexico tariffs take effect There was a significant outcry among customs brokers at the southern border after President Trump tweeted on Friday that he plans to impose tariffs on all goods from Mexico to pressure the United States' southern neighbor to curb illegal migration flows, one representative of brokers told American Shipper.
CBP's ACE impacted by overnight power outage Industry expresses disappointment that Customs' umbrella system remains vulnerable to shutdowns.
Hands-free mooring technology fully deployed on St. Lawrence Seaway
Blackstone makes $18.7 billion investment in warehouses
Chao, merchant mariners named American Maritime Heroes
COA to launch telematics interoperability standard
FHWA awards $321.4 million in grants
Belgium launches digital customs platform
CMA CGM reinforces environmental objectives
Amazon plans to begin drone deliveries 'within months'
Gazpromneft Marine Bunker, Rosmorport ink agreement for Baltic LNG bunkering Gazpromneft Marine Bunker and Rosmorport have signed an agreement to develop LNG bunkering.
ARA fuel oil stocks down 2% to 1.063 mil mt, tight prompt loading Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp trading hub fell 2% to 1.063 million.
3.5% FOB Rotterdam barge MOC buying spree sparks loading delay concerns Bunker players have raised concerns about increased delays in the Rotterdam area after buying activity surged.
Crude settles higher on talk of Mexico tariff delay Crude futures rallied Thursday afternoon on a news report that the US might delay tariffs on Mexico.
External: Global Risk Management
FUTURES: Oil stable as market eyes fresh pricing cues "Sharp output cuts by OPEC+ have contributed to stronger oil prices as members seek to drain excess capacity," Phillip Futures said.
ExxonMobil expands lubricants range for fuels to comply with IMO 2020 rule Mobilgard M420 will be available for supply from key hub ports such as Singapore, Houston and Rotterdam, effective early August.
Finland sets out roadmap to carbon neutrality "The potential of smart grids and demand flexibility must be fully exploited," a policy document said.
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