Chinese shipbuilder gets AiP for giant gas carriers Classification society ABS has granted Approval in Principle (AiP) to two new gas carrier designs from China's Hudong-Zhonghua Shipbuilding: a 200,000 cu.m LNG carrier and a 147,000 cu.m Very Large Ethane Carrier
Climeon modules ordered for fourth Virgin Voyages ship Stockholm, Sweden, headquartered Climeon has received an additional order, worth EUR 1.5 million (about $1.7 million) from shipbuilder Fincantieri. It covers the supply of Climeon Heat Power modules for the fourth cruise
Topaz trials "targetless" DP laser sensor Wärtsilä has successfully completed sea trials of its SceneScan system on the Topaz Citadel, a 72 m platform supply vessel owned by Dubai, UAE, headquartered Topaz Energy and Marine. Developed by Wärtsilä
Captain fined after permitting unsafe work practices The captain of a Panama flagged, Taiwanese controlled bulker has been fined NZ$6,000 (about US$4,000) after New Zealand port state control authorities found crew working at height to load a cargo of
Marine fuels: Small but significant for oil majors 'It is a key dimension of how we think about the transportation industry and it is a key dimension of...
Why the Jones Act is still crazy after all these years The Jones Act is deeply embedded in American society but the drivers behind this protectionist legislation have changed, CMA Shipping...
The Lloyd's List Podcast: What makes a port 'smart'? Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Global box traffic knocked by China's early holidays Transpacific box numbers for February hit by frontloading in the latter stages of last year, with volumes down more than...
Flex LNG applies for direct listing in the US Flex LNG says the rationale for the direct listing rather than an initial public offering is based on the fact...
Port of Oakland announces changeover to green cranes The Bay Area Air Quality Management District awarded terminal operator SSA Terminals a $5m grant last year
UAE at crossroads for shipowners and class The Arab nation has long prided itself on a rapid expansion in almost every business sector, including shipping. But UAE's...
Bang to rights The Geneva Declaration on Human Rights at Sea is a step forward in improving seafarer welfare, but also an indictment...
Royal Vopak poised to sell Algeciras, Amsterdam and Hamburg tank farms Vopak is to announce new projects to grow its portfolio with a focus on industrial, chemical, and gas terminals, says...
Indian elections: Riding the LPG wave Indian prime minister Narendra Modi may not have managed to keep all his election manifesto promises, but his scheme to...
Djibouti ordered to pay DP World $385m in compensation Djibouti will also be forced to pay interest and legal fees in addition to damages as a result of the...
Geneva declaration puts seafarers' human rights in focus First draft of human rights convention for seafarers seeks to raise awareness of abuses at sea and mobilise efforts to...
World boxship fleet update: Holding steady A quiet month for containership fleet expansion comes as a relief as carriers take up tonnage to prepare for new...
Teekay secures finance for four shuttle tanker newbuildings The new debt facility is funded and guaranteed by Canadian and Norwegian export credit agencies, as well as commercial banks
Northwest Seaport Alliance approves development of new container terminal Including future phase two commitment, the deal represents approximately $500m in private and public investment in the region's economy, say...
The box sector prescription: First, do no harm Can liner shipping resist an order splurge that will undermine long-term sustainability?
The Interview: Khalid Hashim The new emissions controls will not be something that will break the market as it will adjust, but the question...
Aegean Marine re-emerges as Minerva Bunkering Aegean filed for protection from creditors in November 2018 after finding a $300m hole in its books
Daily Briefing Fallen high-flyer Nobu Su jailed | The Tung family: Dealmakers par excellence | Scrubbers and new fuels changing the business...
Russell Investments grows Ardmore Shipping position Russell Investments Group has upped its leading stake in Ardmore Shipping Company. The Seattle-based firm now owns 3.6 million shares after a 500,000 buy, Securities and Exchange Commission filings show. Private equity overhang gives shipping shares a hangover Russell was already New York-traded Ardmore's biggest shareholder with 9.4% of all outstanding shares. The company now owns 11.2%. Ardm
Nordic American Offshore strikes bank deal Emanuele Lauro-led company to get deal on waivers and possibly maturity extension in trade for cash and ships.
CEO: Eagle Bulk spared 'contagion' of capesize woes Chief executive Gary Vogel remains 'constructive' on outlook for ultramax and supramax asset classes.
Balzano: MarAd will redouble efforts to support sealift The US Maritime Administration is redoubling its efforts around growing the merchant marine as the military shifts priorities toward more conventional warfare. The agency's deputy administrator, Richard Balzano, said the Jones Act and the country's maritime colleges are the key to growing the US-flag fleet, growing the base of American mariners and, potentially, supporting a protracted military c
President Christian Andersen set to exit VLGC owner Avance Gas Christian Andersen is stepping down as president of John Fredriksen-backed Avance Gas, having been with the company since its inception in 2007. Avance Gas closing in on refinancing as scrubber decision nears Avance and Dorian optimistic as VLGC down cycle appears to be ending The decision will be effective sometime within the next few weeks, chief financial officer Peder Simonsen told TradeWi
Korea's big three yards set for first-quarter boost South Korea's big-three shipyards are expected to log an upturn in their financial results for the first quarter. The Yonhap news agency cited analysts as saying that Hyundai Heavy Industries will post revenue of KRW 3.3 trillion ($2.9bn) for the first three months, a rise of more than 10% year on year. Form and identity of new South Korean shipbuilding giant taking shape It will also make it b
Halani OSV duo going under the hammer in Namibia Namibia's high court is auctioning off two OSVs controlled by India's Halani Shipping. Exercising its Admiralty jurisdiction, the court said the 1,900-dwt accommodation unit Halani 1 (built 1980) was the subject of a court order on 29 March for a public sale. No auction has yet been set. Bunkers are included in the sale. The claimant is Indusind Bank. Halani Shipping sets its sights on secondh
Cosco Shipping Energy Transportation prepares to launch VLCC pool Chinese tanker giant Cosco Shipping Energy Transportation (CSET) has unveiled plans to launch a VLCC pool and build dual-fuelled VLCCs, according to local media outlets. In its annual meeting with clients, the tanker arm of state conglomerate China Cosco Shipping reportedly announced it had established a VLCC department as an initial step to launch a VLCC pool. Cosco Shipping Energy logs $553m
Alpha Bank plans disposals as loan losses hit $1.8bn Greek shipping lender Alpha Bank is lining up more big disposals of bad loans as impairments rose in 2018. The bank said provisions for loans hit EUR 1.61bn ($1.8bn) last year, from EUR 1bn in 2017. The figure was affected by additional impairments in the final three months in relation to an expanded target for non-performing exposure (NPE) sales this year. This implied a cost of risk of 296 ba
Bimco to open Athens office International shipping association Bimco is about to open an office in Greece that will be tasked with enhancing service to local clients and help recruit new ones. It will be Bimco's third office outside its Copenhagen headquarters, alongside existing ones in Shanghai and Singapore. Greeks are the single biggest group of shipowners within Bimco, accounting for 152 out of the about 800 ship prop
Tanker pilot a suspect in Helge Ingstad sinking case A pilot is among three suspects being investigated following the collision between a Tsakos tanker and a Norwegian frigate last year. Police told NRK that the pilot onboard the 113,000-dwt tanker Sola TS (built 2013), an officer on the frigate Helge Ingstad and an employee of the local vessel traffic services are being investigated. The November incident led to the warship sinking. Boa reveals
New K Line CEO launches business review New K Line CEO Yukikazu Myochin has launched a review of the Japanese owner's operations on its 100th anniversary. He said management resources will be focused on the four pillars of dry bulk, tankers and gas, car carriers and logistics, following the spin-off of boxship operations into the ONE joint venture with MOL and NYK. Myochin is new K Line CEO as Murakami moves upstairs K Line to tear u
Uljanik Plovidba probed over newbuilding contract profit Croatian owner Uljanik Plovidba is being investigated over alleged improper gains from a shipbuilding contract. The tanker and bulker player said it had been notified by authorities of the probe "due to the alleged misconduct of the former managing director." The investigation relates to a project to build four vessels at unrelated shipbuilder Uljanik Group's 3 Maj yard in 2009. Uljanik Plovidb
Form and identity of new South Korean shipbuilding giant taking shape A merger of the world's two largest shipbuilders is gathering pace and the super-sized company looks set for a fresh identity. Yards counter tough shipbuilding market with consolidation HHI-DSME merger draws praise at home but criticism beyond the peninsula Seoul-listed pair Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering agreed on the mega-deal earlier this year. The co
Siem reactivates AHTS after winter stacking Norway's Siem Offshore has brought an anchor-handler out of winter layup for a new contract. Broker Westshore said the 285-bp Siem Pearl (built 2009) spent 141 days in Bergen after being stacked in November. It has now been fixed this week by ConocoPhillips for 21 days for the Safe Caledonia rig move at £14,000 ($18,350) per day. The last recorded fixture for the vessel before that was in Octob
Croatian shipyard Brodotrogir seeks court restructuring Croatian shipbuilder Brodotrogir is seeking a court restructuring after running into financial trouble. The commercial court in Split has begun a pre-bankruptcy procedure at the request of the company. This is a pre-emptive move in a bid to unfreeze its bank account, the Jutarnji Vijesti website reported. Danko Koncar closing in on Arctech yard Uljanik yard picks Koncar as new partner "A furt
Aegean Marine reborn as Minerva Bunkering Restructured Aegean Marine Petroleum Network has emerged from its Chapter 11 bankruptcy process in the US with a new name. The fuel and tanker group is now Minerva Bunkering, a fully-owned subsidiary of trader Mercuria Energy. It filed for reorganisation in November. "We are pleased that Aegean has completed its restructuring, and now as part of Mercuria, is a significantly stronger company wit
Teekay Offshore lines up $440m newbuilding loan US-listed Teekay Offshore Partners has secured a new $414m debt facility to fund four LNG-fuelled shuttle tanker newbuildings. The company said long-term financing covers the suezmax DP2 vessels due in 2019 and 2020. Two of these will work for Norway's Equinor under its master agreement, while the others will join its contract of affreightment fleet in the North Sea. The new facility is funded
Tufton Oceanic adds general cargo vessel pair to fleet London-based fund manager triples the size of its exposure to the sector with latest S&P deals.
Commodore Hadjipateras calls for more women in shipping Dorian LPG's John Hadjipateras, Connecticut Maritime Association's 2019 Commodore, says females should serve throughout shipping.
China imported record numbers of logs in 2018 New Zealand and Japan suppliers key beneficiaries, while Russia emerges as the biggest loser.
Total signs long-term LNG SPA with China's Guanghui French oil major expands supply footprint in world's largest market for liquefied natural gas.
China will need up to 80 LNG carriers as its imports grow Training sufficient experienced crew to handle these vessels will be among the country's biggest challenges
Arun receives first LNG cargo destined for breakbulk Indonesia's oldest LNG terminal already started a new life in regasification but Pertamina has fresh plans for the facility
WLS: Asia-to-North America trades see capacity sink in Q1 While weekly allocated capacity on Asia to North America trades took a sharp downturn between Q4 2018 and Q1 2019, prominent North Europe outbound trades saw a modest increase.
Official: Mexico making progress with Dems on USMCA Mexican officials met with several House Democrats this week as their congress looks to OK labor reform legislation in line with provisions of the U.S.-Mexico-Canada Agreement.
Border closure averted but problems remain President Trump walks back threat to close the southern border with Mexico, but CBP's reallocation of officers to immigration duties continues to stymie cargo flows.
FMC to monitor low-sulfur fuel cost impact Chairman Michael Khouri told Senate Commerce Committee members that the agency is concerned how ocean carriers will pass IMO bunker requirement costs onto shippers.
Small businesses concerned about infrastructure Three small business executives spoke Thursday during a call organized by the U.S. Chamber of Commerce about how the nation's infrastructure impacts their companies.
Executive Moves: Air Partner and Weber Logistics
Port Canaveral first North American call for Aframax tanker
New CMA CGM ship christened
Lawsuit over Pennsylvania Turnpike tolls dismissed
CBP, FDA step up international mail facility inspections
Singapore Q2 2019 ex-wharf 380 CST bunker term offered at MOPS plus $5/mt Singapore ex-wharf 380 CST bunker fuel term contracts for the second quarter of 2019 were offered at $5/mt over the Mean of Platts Singapore 380 CST high sulfur fuel oil assessments, according to market sources.
Brent settles above $70/b as global supply outlooks tighten Crude futures settled near five-month highs Friday as the market focus lingered on a tightening global supply picture.
Loading delays at Rotterdam bunkering terminals due to tightness: sources Long delays at bunker oil terminals in Rotterdam resulted from tightness on the Rotterdam bunkers market, sources said.
European HSFO arbitrage indicator east hits 10-month low The East-West spread dropped to a 10-month low Friday morning amid a fuel oil supply overhang in Singapore and hefty flows of product east from Northwest Europe. The front-month East-West spread -- the premium of 380 CST Singapore cargoes versus 3.5% FOB Rotterdam barges -- is a measure of the openness of the arbitrage from Rotterdam to Singapore.
Traded Rotterdam HSFO barge volumes grow on Saudi demand, closed arb east Volumes traded in the Platts Market on Close assessment process for 3.5% fuel oil FOB Rotterdam barges surged at 152,000 mt in the first week of April as sellers looked to relieve themselves of product, and buying activity picked up in preparation for Saudi Arabian summer demand.
The time is now to find your fuel: Capital Link Forum Bunker buyers should find their fuel suppliers as soon as possible, as compatibility and availability of compliant low sulfur fuel and scrubber-ready high sulfur fuel remain uncertain ahead of the January 1, 2020, implementation of the International Maritime Organization 0.5% sulfur bunker fuel regulation, panelists on the IMO 2020 & Beyond forum at Capital Link Forum said Monday.
First VLCC of Forties crude heard booked for Far East in May A very large crude carrier (VLCC) has been booked to take North Sea's Forties crude on a Hound Point-Far East voyage in May, according to shipping and trading sources.
Singapore residue stocks rise on week to 22 mil barrels, imports at 5-week high Singapore's commercial stocks of residues rose 11.6% week on week to 21.663 million barrels in the week ended April 3, data released late Thursday by Enterprise Singapore showed.
Los Angeles MGO reaches 51-month high as supplies continue to be limited Los Angeles Marine Gas Oil bunker fuel pricing hit a 51-month high Thursday amid ongoing supply issues while a potential resupply date continued to be murky.
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