The Lloyd's List Podcast: Outlook for 2019 Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
China's concessionary mood sparks hope US tariff deadline may be extended Chinese vice-premier Liu He's surprise appearance at Monday's negotiations may be a sign that Donald Trump's deal-making prowess is extracting...
Green sheen dulls ship safety warns ICS International shipowners' association to target safety and seafarer jobs in 2019
Navios Partners announce $50m buyback plan Two-year programme announced by US-listed owner of bulkers and boxships amid predictions of substantial cash generation from a recovering dry...
Evergas sells eight ethylene carriers to Unigas Critical mass was never achieved and the eight ships never delivered a profit
Ince & Co goes into pre-pack administration Move allows Gordon Dadds to walk away from liabilities in wake of takeover, with the intention that creditors eventually get...
Mozambique LNG mega projects to boost shipments As all of Mozambique LNG's contracts are on a delivered basis, it is expected to launch a tender for 16...
Maersk boxship in oil spill at Hong Kong terminal Clean-up operations on the vessel deck, hull and sea surface are ongoing, while the cause of the incident is still...
MSC to fund clean-up after North Sea container spill MSC has appointed salvage company Ardent Global to lead and co-ordinate the search for missing containers
Hapag-Lloyd containership crew evacuated A fire broke out on the deck of the 7,510 teu containership last week in a container, which subsequently spread...
Ince sees another departure as Fenwick crosses over to HFW Fenwick has 25 years' experience advising owners, brokers, hull and machinery and P&I insurers on collisions, SCOPIC and LOF salvages...
China MSA gets new director The new head of the Maritime Safety Administration, Cao De Sheng has previously held different roles in various maritime authorities
Europe forecast to take in surplus LNG from Asia While there will be some pressure on prices, this is unlikely to bring the level of oversupply some fear, says...
Cosco Shipping bosses hand back public money used to play golf After the outrage at the misuse of public money, plans have been drawn up by the company to 'clean off'...
Daily Briefing All eyes on US-China trade talks | Little new year cheer for shipbuilders | Japan shipping majors pledge to be...
Singapore detains two Brightoil tankers Arrest has come after Brightoil and Shell had previously entered into a time charter agreement for five VLCCs and four...
CPC starts sales of 0.5% sulphur content fuel oil in Taiwan CPC confirmed the low sulphur fuel oil marine fuel grade is available at ports in Keelung, Taichung and Kaohsiung, Suao and...
Port of New York and New Jersey sees 7% growth All six of the port's terminals are continuing to invest in infrastructure and associated technology
China bans open-loop scrubbers in ports Beijing's decision is adding another layer of uncertainty over the prospects of the devices, with many of the world's largest...
China to be LNG's 'most important market' The emerging nation may account for more than a quarter of worldwide demand by 2030, according to a Stifel report.
TCT Shipbrokers gets off the ground Wetzki poached from rival broker to help set-up new Singapore shop
US shipping party brings a festive boost to Mercy Ships Leading tanker players organise cocktail party fundraiser for hospital charity with about 300 guests attending
Connection of ports is the last link in shipping's digital drive Industry acts to increase cooperation with terminals, to realise full benefits of automated navigation systems
Trump fuel price fears could impede sulphur cap launch Alphatanker says US opposition poses the greatest threat to the introduction of the 2020 IMO global sulphur cap. Efforts to delay the legislation could be ramped up given Donald Trump's concern that it could trigger a spike in fuel prices with a presidential election due in November 2019. The 0.5% sulphur cap is increasingly on Trump's radar, says Alphatanker. Donald Trump targets delay to IMO
Boost from Marine East 2 is finally arriving for LPG market With the long-delayed project finally beginning to service, LPG tanker demand in the US east coast is expected to rise.
d'Amico International Shipping breaks new ground in Japan with LR1 deal Italian owner is first international company to pen an operating lease transaction in Japanese market.
NYK's Naito focuses on term deals for LNG carriers NYK president Tadaaki Naito has outlined his plans for 2019, including more stable revenue from LNG carriers. In his new year address to workers, the Japanese owner's boss said steady business has been secured by concluding new time charters for gas ships and shuttle tankers with customers in Japan and overseas. "In the dry bulk business, through the hard work of everyone involved and a favorabl
Carnival gets a lift through 2021 from fuel, bookings Arnold Donald-led cruise giant sees better bunker efficiency amid more reservations.
LNG bunker vessel kicks off work in Lithuania Kairos takes on first volumes from larger FSRU cousin Independence at Klaipeda.
Semi-sub on way to Norway after six years in the making A semi-submersible drilling rig ordered in 2013 is en route to its first contract after having been subject to delays, disputes and a resale. The unit, named Deepsea Nordkapp, has been delivered to Norway's Odfjell Drilling from Samsung Heavy Industries (SHI), South Korea. Stena originally ordered the rig in 2013 for $727m but cancelled the deal in 2017, claiming SHI was unable to complete and d
Cosco Shipping International hit by Coastal Oil fallout Company faces what it calls "not genuine" claims that the bankrupt bunker supplier assigned to some commercial banks.
Robert Maersk Uggla steps into enlarged board as Maersk Drilling sets for listing Robert Maersk Uggla has stepped in as vice chairman of Maersk Drilling as the company prepares for a separate listing in its native Copenhagen this year. Maersk Tankers says new owners were drawn in by fresh strategy Hemmingsen defends sales of Maersk Energy units The Danish shipowner is one of several new faces in the reshaped board of Maersk Drilling, which will be the third of four AP Moller
Toisa fleet sale cash to go towards settling $542m claims Greek owner's bankruptcy scheme aims to avoid litigation with banks through sharing out proceeds of asset disposals.
Bulk Invest creditors secure payment from estate The bankruptcy of Norway's Bulk Invest, the former Western Bulk Shipholding, has been finalised and creditors will receive a payment of nearly 7.5% of outstanding debt. Bulk Invest files for bankruptcy Six owners attack WB Chartering deal The liquidation payout was revealed as a trustee from Norwegian law firm Ro Sommernes signed the final report on the bankruptcy. His report lists 35 unprior
Evergas sheds loss-making ethylene carrier fleet Danish owner Evergas is selling its eight ethylene carriers to the partners in Unigas. B Schulte, Sloman Neptune and Ultragas are reportedly paying between 25m and $26m for each of the 12,000-cbm ships. The octet, built in 2013 and 2014, were reported ordered in China for some $38m each. Steffen Jacobsen, chief executive of Evergas, confirms that the eight ships are being sold to the Unigas p
Iino builds stake in two Equinor LNG carriers Japan's Iino Lines has bought out partner Mitsui & Co's share in two LNG carriers chartered to Equinor. The company said it now owns 37% and 14% in the 143,000-cbm Arctic Discoverer and Arctic Voyager (both built 2006) respectively, adding 20% and 9% to its previous holdings. VesselsValue assesses the ships as worth about $68m each. A joint venture to own them was launched in 2006 by Iino, Equi
Salvors head out to burning ships Salvage contracts awarded for Sincerity Ace and Yantian Express casualties.
Circle complete as Norden officer takes command of Africa Mercy Norden chief officer Milan Falsing is reliving one of his childhood passions as he takes over as the captain of the Africa Mercy, the world's largest non-governmental hospital ship. For two months starting this month, Falsing will be in command of a vessel he visited as a boy more than 20 years ago. Mercy Ships Cargo Day hits fundraising record Shipping industry donates more than $500,000 to Me
Maersk Supply eyes move into seabed mining Maersk Supply Service is trying to beat the OSV slump by diversifying into seabed mining. The idea is to help companies dig for copper and nickel. Head of strategy Jonas Munch Agerskov told Jyllands-Posten that the company will also try to win contracts for plastics cleaning operations at sea. Svitzer man takes CFO job at Maersk Supply Service "We believe that there is financial potential outs
Wah Kwong sells handy Hong Kong-based shipowner Wah Kwong has sold a handysize bulker to European interests, according to broker reports. Wah Kwong goes 'asset light' with Chinese leaseback deals The geared 32,467-dwt Bonnie Venture (built 2012) was reportedly sold to an unnamed buyer for $9.5m in mid-December. The China-built vessel was sold at a discount compared to a similar Japan-built handysize reported sold la
MOL product tanker sale expected to set new price level Brokers are closely watching the ongoing sale of an MOL medium range tanker for fresh indications of asset values in the sector. Tanker spike keeps S&P at near record levels The Japanese shipowner has placed the 46,000-dwt Marine Express on the market. Brokers say offers were due on the 2009-built tanker on Friday and multiple firm proposals were tabled. While it is not yet clear who the final
UPDATE: Six crew dead as cargoship breaks up Six crew have died after a Turkish general cargoship broke in two and sank off the country's Black Sea coast on Monday. The AP news agency said the 3,500-dwt Volgo Balt 214 (built 1978) went down off Samsun in rough seas. Seven other seafarers were rescued. The Samsun governor's office said a distress signal had been received from the vessel, which was heading into the port from Azov in Russia.
Venezuelan Navy interception cuts short PGS seismic survey contract Pre-Christmas drama sees one of two vessels released from ExxonMobil contract.
Missing tanker shows up on AIS Indonesian authorities say contact lost with palm oil vessel on 28 December.
HFW poaches Ince deputy admiralty chief Fenwick Move is latest in a string of departures from bought-out law firm.
NS United ore carrier heading for demolition NS United of Japan is selling the oldest ore carrier in its fleet for scrap, sources say. It is sending the 229,000-dwt Confidence 1 (built 1999) for demolition. Bulker players see optimism in disruption as 2020 looms Bulker recovery sees overall scrapping activity fall in 2018 It is reported by European brokers as being sold as is in Korea for green recycling. While a price has yet to emerge
Gordon Dadds places Ince & Co into administration Move taken on advice of consultants as part of the takeover process.
World Fuel Service sues to collect on Hansa fuel bills World Fuel Services is taking insolvent Hansa Heavy Lift to court over unpaid fuel bills for the arrested HHL Elbe. Hansa Heavy Lift hits the buffers In a lawsuit filed in Miami federal court last week, the New York-listed bunker supplier alleged Hansa owes it more than $993,000 for five fuel sales made last year. The sales were made starting in July 2018 and ran into the fall, with the 12,776-
Pirates release RK8 Offshore AHTS crew Four crew seized from an RK8 Offshore anchor-handler off Congo in October have been released. The company confirmed the seafarers from the 2,300-dwt Ark Tze (built 2009) are safe and in good spirits. The men were taken on 29 October, the same day eight crew were kidnapped from a Norbulk-managed bunker tanker, the 9,600-dwt Anuket Amber (built 2008), in the same area. In a joint statement with N
Navios Maritime Partners to move ahead with buyback plan Navios Maritime Partners has the go-ahead to buy back $50m of its shares. Moody's gives bump to Navios Partners' debt The Angeliki Frangou-led bulker owner announced its board of directors had approved the two-year plan Monday morning. The New York-listed company said it may repurchase unspecified numbers of shares from "time to time" on the open market or in privately negotiated transactions.
Fredriksen heads the field on newcastlemax bulker projects Former lieutenant Tor Olav Troim and fellow big hitters Henning Oldendorff and James Marshall are also set to profit from newbuilding asset plays
Master dies in bulker collision off Vietnam A cement carrier captain has died in a collision with a bulker off Vietnam. The Zing website reported that a vessel named as NB-8836 broke in two and sank quickly off Ha Long Bay in the early hours of Monday. It was in collision with the 60,000-dwt wood chip carrier Daio Southern Cross (built 2012) after it left Cai Lan, the report said. Four other crew from the cement carrier were rescued. Th
Anhui Conch orders four bulkers in China Chinese cement group builds fleet with deal at CSC Jiangdong.
Bangladesh targets big newbuilding push Bangladesh is targeting a big newbuilding push to meet increasing demand. Officials cited by the Financial Express said there has been an acute shortage of lighterage vessels. The current upper limit of state permits for newbuildings is 220 per year. This could be lifted to more than 500, with tonnage particularly needed at Chittagong port. Secretary of the shipping ministry Abdus Samad said:
DBS Bank seizes Coastal Oil tankers in Singapore Singaporean bank enforces mortgages against handysize and coastal products tankers.
IMO 2020 focused trading fund suffers major loss Head of energy trading quits start-up as company says it will "evaluate strategic options".
Unipec involved in one of every nine dirty spot charters Last year also saw more crude being carried on larger vessels, according to Poten & Partners.
Hapag-Lloyd evacuates Yantian Express crew German liner operator says it is difficult to estimate damage to the ship or its cargo.
Mississippi reopened after grounded bulker removed US Coast Guard has restored limited access to major US waterway following casualty.
Credit Suisse arrests Brightoil Petroleum tankers in Singapore VLCC and aframax belonging to Hong Kong owner detained as Swiss bank chases $15.75m.
New year marked by several shipping accidents Two large ships are still on fire in the Pacific and Atlantic.
U.S. charges Peru with violating forestry obligations "The Trump administration is making clear that it takes monitoring and enforcement of U.S. trade agreements seriously," says U.S. Trade Representative Robert Lighthizer.
Commentary: Brazil's potential shift to capitalism BlueWater Reporting looks at possible economic boosts that also could benefit the United States.
Gateway to operate New London's State Pier
Averitt launches distribution and order-fulfillment service
Brazil's CADE suggests Petrobras sell refining assets, end monopoly The antitrust division at Brazil's Justice Ministry (CADE) on Monday recommended state-owned Petrobras sell four refineries
Japan's JXTG, Cosmo aim to resume Iran oil loadings at end-Jan: companies Japan's JXTG Holdings intends to resume loading oil from Iran at the end of January
Gabon's failed coup highlights challenges in OPEC's African base A failed coup attempt in Gabon has raised the prospects of further supply risks to the producer group's growing African base.
Panama Canal to restrict draft to 49 feet as of February 11 Due to an unusually low amount of rain in December, the Panama Canal Authority (ACP) announced Monday that the maximum draft for a ship transiting the Neopanamax locks will be restricted to 49 feet, or 14.94 meters, as of February 11.
Goldman Sachs cuts 2019 Brent price forecast to $62.5/b Goldman Sachs has cut its average price forecast for Brent crude this year crude by 11% as growing volumes of US shale oil reach the market, production costs fall and uncertainty continues to hang over the pace of global oil demand growth.
Q1 TANKER OUTLOOK: Momentum to hold Americas MR freight high in January Freight costs on the Americas clean tanker market started the first quarter of 2019 strong, carrying over momentum from the high rates of Q4 2018.
HSFO Med/North spread near one-month high amid Turkish Straits delays: sources The paper high sulfur fuel oil Med-North spread -- the differential between 3.5% sulfur Mediterranean cargoes and 3.5% FOB Rotterdam barges -- reached its highest level since December 14, 2018, with the Mediterranean market constrained by mounting delays at the Turkish Straits, sources said.
Fujairah-Singapore bunker spread widens to 7-week wide on ample supply Avails are fine while demand is still slow at the start of the year, though we foresee that it will slowly pick up in January
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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