Höegh Autoliners preps for IMO 2020 by cleaning tanks Oslo, Norway, headquartered Höegh Autoliners has opted to comply with the IMO 2020 global sulfur cap by switching to Very Low Sulfur Fuel Oil (VLSFO) and Low Sulfur Marine Gas Oil (LSMGO)
USCG issues Illinois River safety zone The Coast Guard today issued a safety zone on the Illinois River, restricting all vessel traffic from mile marker 187 to mile marker 145.6, and mile marker 80.2 to mile marker 10
VT Halter releases more details of winning Polar Security Cutter design More details are emerging about VT Halter Marine, Inc.'s winning design for the U.S. Coast Guard's Polar Security Cutter (PSC). As we reported earlier, as prime contractor, VT Halter has been awarded
Sea Machines names Don Black VP sales and marketing Sea Machines Robotics, Boston, Mass., has hired Don Black as vice president of sales and marketing, reporting to founder and CEO Michael G. Johnson. Effective immediately, Black assumes responsibility for the company's
Failure to read charterparty terms can prove expensive Professional indemnity insurer International Transport Intermediaries Club (ITIC) is urging ship brokers and managers to check the terms of their charterparty agreements closely before signing, in order to avoid costly mistakes further
Belgium to spot check ships for BWMC compliance Belgium is to begin testing vessels calling at its ports and terminals to ensure they can demonstrate compliance with the IMO Ballast Water Management Convention (BWMC), becoming one of the first European
Team Tankers will protect four more ships against barnacles with Selektope Chemical tanker owner and operator Team Tankers International is to protect four more ships with the bio-active anti-barnacle agent Selektope. The decision follows successful fouling prevention performance during a 40-month trial of
Boskalis ship Blue Marlin freed after hijacking Royal Boskalis Westminster N.V. (Boskalis) reports that the crew of its heavy transport vessel Blue Marlin has been freed and the vessel retaken following a violent hijacking that occurred Sunday, approximately 80
Italy supports Mediterranean ECA zone Italy and France want all Mediterranean nations to agree to a new ECA zone next year
Pro-scrubber lobby group confident the pendulum is swinging their way CSA 2020 is undertaking a public relations tour to try to persuade the industry that open-loop scrubbers have a viable...
Eurogate Intermodal seeks to improve slot booking Automated algorithm calculates most efficient transport solution around port
Pangaea orders post-panamax pair on back of Baffinland deal Nadaq-listed operator's first ships to be built in China will serve other customers when not employed in Canadian mining outfit's...
GoodBulk remains in profit despite capesize rate plunge Monaco-based owner declares fifth consecutive dividend as its fleet outperforms Baltic index
Singapore details steps to deal with non-compliant fuel The MPA has also reasserted that a wide range of fuels, including compliant fuel, will be available at the port...
Clipper Bulk sheds jobs amid depressed market Clipper Bulk is cutting 40 of 140 onshore jobs, including the closure of its Tokyo office
Finnlines profit slips in weaker economic environment Revenues rise 2% but slower trade growth in Finland took its toll on the ro-ro and ferry operator
Carriers meeting resistance to fuel surcharges The introduction of new fuel pricing formulas in the fourth quarter could lead to a surge in demand over the...
Norden suffers under dry bulk market 'on the brink of collapse' 'Our owned fleet of about 15 vessels is closer to the desired position of being asset-light,' says chief executive Jan...
Boskalis crew freed after vessel hijacked off West Africa Heavy transport vessel Blue Marlin was hijacked on May 5 approximately 80 nautical miles offshore Equatorial Guinea
BBC Chartering lines up Ulrichs to replace Andersen as chief Industry veteran lined up to succeed Svend Andersen as chief executive after transition period, company says in statement
Panama Canal tightens draught restriction Falling water levels in Gatun Lake are forcing the Panama Canal Authority to limit the size of vessels transiting the...
Diesel-reliant miners forecast to feel the brunt of the sulphur cap The trades with the highest tonne-mile will suffer the most, with the Brazil-China trade singled out as likely to be...
IMO cap could save northeast Asian LNG buyers $2.5bn As the world's top two liquefied natural gas exporters, Australia and Qatar are the most exposed to Japanese Crude Cocktail-linked LNG...
Daily Briefing IMO 2020 could save northeast Asian LNG buyers $2.5bn | Barakah Offshore ties up with Minsheng Financial Leasing | Hazardous...
Barakah Offshore ties up with Minsheng Financial Leasing Barakah also recently formed a strategic alliance with Singapore firm Vallianz Holdings to explore business opportunities in Malaysia and the...
Australia's east coast LNG exports fall in April Gladstone's LNG exports to South Korea and Japan fell to six- and eight-month lows, Platts reported, citing data from the...
Bumi Armada wins $2.1bn India FPSO contract No details were released on the expected capital expenditure for the project or the expected start-up date for operations
Indonesian oil company eyes trading-hub role for fuel terminal near Singapore Pertamina's logistics, supply chain and infrastructure director Gandhi Sriwododo said: 'The deal with Freepoint will help TBBM Sambu Island enter...
New York-New Jersey reports improved throughput results The port authority has named Sam Ruda as director of the port department and Bethann Rooney as its deputy director...
Technip to deploy flagship in BP Gulf of Mexico project TechnipFMC will be deploying its flagship pipe-layer to help BP expand one of the largest oil fields in the Gulf of Mexico. The Houston-based subsea technology company confirmed Tuesday the 33,800-gt Deep Blue (built 2001) would be used to aid BP in its expansion of the Thunder Horse South Expansion 2 project, 200 km southeast of New Orleans and 1,830 meters underwater. TechnipFMC scoops BP subs
Ocean Yield results fall amid less revenue Lars Solbakken-led diversified owner sees no revenue from FPSO unit.
Tidewater keeps up Venezuela fight Tidewater is keeping up the fight to recapture the nearly $60m owed by Venezuela after the country seized a bevy of ships in a 2009 nationalization push. In January, the Houston-based, New York-traded offshore player won a $36.4m judgement against the South American country in Washington, DC federal court and in mid-April registered the judgement in Delaware federal court. Tidewater benefits fro
Maritime & Merchant Bank grows tanker and container loan book in profitable quarter Maritime & Merchant Bank (M&MB) has upped its lending to tankers and containerships and has turned a quarterly profit, according to its latest report. The first quarter saw the bank disburse a further $23m to its clients, which brings the its portfolio of disbursed loans to $272m as of 31 March. Maritime & Merchant Bank seeks more deals after profitable start to 2019 Maritime & Merchant Bank of
Anchor handlers step in as PSVs sell out in Norway Charterers in Norway have resorted to fixing anchor handlers (AHTSs) to perform supply duties because platform supply vessels (PSVs) in the region have sold out, according to brokers. Four AHTSs have been fixed in the past few weeks to perform supply duties in Norway, according to a report from offshore supply shipbroker Westshore. AHTS rates hit $77,000 as North Sea sells out Allseas drains N
Global Ship Lease bottom line lifted by Poseidon deal Global Ship Lease's (GSL) earnings have more than doubled after the boxship player did just that with its fleet by acquiring Poseidon Containers late last year. The New York-listed owner posted a $10.1m profit for the first quarter, up from $4.2m a year earlier. Global Ship Lease inks Maersk charter Global Ship Lease extends Hapag-Lloyd fixture for post-panamax ship Earnings per share came in
NITC tankers poised for more floating storage and STS transfers State-linked tanker giant may begin fleet manoeuvres to support Iran's oil industry
NGM Energy retains VLCC touted for quick asset-play move Despite firming asset prices, highly publicised VLCC deal for the 2003-built vessel proves to be misreported
Crude tanker rates boost FSL earnings Singapore tanker owner FSL Trust Management has logged a rise in profit as rates strengthened. FSL fundraiser won't lead to mandatory offer First quarter net earnings were $3m, compared to $0.9m a year ago, despite continued market volatility. Revenue grew to $19.1m, up 13.3%, mainly due to higher rates from its crude carriers. It also said product tankers were positioned to benefit from marke
Chinese state giants Cosco and CIMC come to blows in rare legal battle China Cosco Shipping's advance in container manufacturing opens a rare rift between Chinese state-owned conglomerates.
Jefferies: Navios Partners undervalued after debt payments Greece's Navios Maritime Partners (NMM) is undervalued following debt repayments, Jefferies has said. Bulker sale pushes Navios Partners into the red The New York-listed bulker and boxship company posted a net loss to 31 March of $9.52m, from a profit of $5.47m a year ago. It was hit by a $7.3m impairment from disposing of the 74,000-dwt Navios Galaxy I (built 2001). Jefferies' analyst Randy G
Armed guards charter clause costs manager $150,000 Shipbrokers and operators have been warned to check charters closely after a clause regarding armed personnel on a tanker ended up costing a manager dearly. ITIC warns brokers after email scams ITIC defends broker accused of breach of authority UK insurer International Transport Intermediaries Club (ITIC) said the unnamed company believed that the terms of an agreement allowed it to place guard
Bulker scrapping to pick up as market woes linger Scrapping levels for larger bulk carriers could return to the same levels experienced in 2016, key dry-bulk executives claim.
Havila PSVs fixed on period charters to Axxis Geo Solutions Havila Shipping has fixed two of its platform supply vessels (PSVs) on period charter to Axxis Geo Solutions, which is undertaking seismic surveys on behalf of big-name energy companies. The 3,250-dwt Havila Aurora (built 2009) was chartered to AGS on a six-month contract with four optional three-month extension periods attached, starting this month. Havila Shipping back at the table with bank
Ships' black boxes to be upgraded Voyage data recorder development due as electronic data becomes key in casualty and insurance claims
Lancashire results point to hardening hull rates Major insurer reports hike in marine premiums, adding to the growing evidence of an improving market
Cyprus shipmanagement revenue hits $591m Revenue from shipmanagement in Cyprus has grown to EUR 538m ($591m) in the second half of 2018. This is up from EUR 506m in the first six months and is 5% of the island's GDP. The GDP figure for the first half of 2018 was 5.1%, however, the Central Bank of Cyprus announced. The slight dip was due to a simultaneous increase in economic output in the second six months, the bank said. German ship
Boskalis heavy-lifter damaged in violent African hijacking Royal Boskalis Westminster has revealed one of its heavy-lift ships was hijacked off Africa on Sunday - but has now been freed. The company said the 76,000-dwt Blue Marlin (built 2000) was seized 80 miles off Equatorial Guinea. "Through the professional response of the crew and the coordinated support from the navy of Equatorial Guinea and Spain, the violent hijacking has been ended and the crew
Shell opens Gibraltar's new small-scale LNG terminal Facility will receive cargoes twice a month as territory switches over to gas for power generation
GoodBulk makes the best of a bad bulker market Revenue sharing agreements are quite literally paying off for GoodBulk's capesizes.
DVB leads $175m refinancing of 34 Polsteam bulkers Frankfurt lender DVB Bank has completed a syndicated $175m refinancing of leading European bulker owner Polish Steamship (Polsteam Group). The German bank acted as mandated lead arranger and bookrunner for the 34-ship deal. CIT Group was also a lead arranger, with Societe Generale, BNP Paribas, Siemens Bank and Credit Agricole as co-arrangers. Polsteam eyes fresh wave of bulk carrier orders DZ
Idle Philly Shipyard fighting for fresh business as it burns cash at over $1m per month Jones Act specialist Philly Shipyard slipped into the red in the first quarter in which it delivered the last ship in its orderbook - and it is forecasting red ink for 2019 while it hunts new business. Oslo-listed Philly Shipyard handed over the second of two containerships constructed for Matson at the end of March and has executed vast cuts to its workforce until new contracts are secured. How
Tanker headache grows as Panama Canal cuts draft again Tanker owners are facing further cargo reductions after the Panama Canal cuts its draft limit again. More problems for owners as Panama Canal cuts draft level again Panama Canal restrictions pose tanker problems Canal authority ACP has announced a new maximum draft level of 13.11 metres from 28 May. This is its sixth cut since January as water levels fall in a drought, the Platts news agency r
Odfjell and Chembulk chemical tankers head to Asia amid strong buying interest Three chemical tankers from the Chembulk and Odfjell fleets are reported to be heading for new careers under Asian ownership. The largest of the trio, Chembulk's 20,600-dwt stainless steel chemical tanker Chembulk Gibraltar (built 2001), has been sold for $6.8m in a deal that is said to have been concluded at the end of last month. While as late as last week most broking reports were suggesting
Norway putting $165.5m towards Teekay newbuildings US-listed Teekay Offshore Partners has secured $165.5m in financing and guarantees from the Norwegian state for four new shuttle tankers. The backing from Export Credit Norway and Norwegian Guarantee Institute for Export Credits is part of a larger syndicate, the companies said. Teekay Offshore lines up $440m newbuilding loan And Enova, which contributes to Norway's transition towards a low-emi
Hansa Tankers pool beefs up on scrubber-fitted tonnage Norwegian operator buys chemical tanker and retrofits it, while pool member Bjarne Rieber installs scrubbers on seven
Russia's oil pipeline woes bring good and bad news for tankers Contamination issues at Druzhba will alter trade flows for aframax and suezmax crude tankers and could trigger additional demand for LR product tankers
Tanker tonic for Norden after first quarter bulk rate crash A collapse in the dry cargo market during the first quarter saw Danish owner Norden fall short of forecasts for the period. Nimble Norden focuses on asset-light model in 'ever more volatile' world Norden reshapes product tanker arm to mirror changes in dry bulk Danish shipping industry spreads its wings A strong showing from its tanker business kept the Copenhagen-listed company in the black a
Kingston Smith plugs into Moore Stephens International network UK accountancy group Kingston Smith has joined the Moore Stephens International network. Based in London and with 62 partners and 550 staff, Kingston Smith is a top 20 UK accounting firm. BDO taking over Moore Stephens LLP Maureen Penfold, managing partner of Kingston Smith, said the move was a natural next step in supporting clients to reach their potential for international expansion. "Bei
Shipowner calls for higher penalty for flouting IMO 2020 Panelists at TradeWinds forum say large part of industry still unprepared for switchover.
Topaz settles PSV arrest dispute in Nigeria Middle East owner Topaz Energy and Marine has settled a dispute that saw two PSVs arrested in Nigeria. TradeWinds reported in September that arrest orders were issued for the 3,300-dwt Topaz Seema (built 2014) and 3,300-dwt Topaz Faye (both built 2014) by a court in Port Harcourt towards the end of August last year. It was the third legal bid for $50m of breach-of-contract compensation by an u
IMO 2020: Singapore adds to cost of being caught with non-compliant fuel More than just fines and jail time threatened for ship calling at Singapore with non-compliant fuel after IMO 2020 kicks in.
Gotland adds another bulker for tanker conversion Swedish owner Rederi AB Gotland has acquired another Italian bulker for conversion into a tanker. The tanker and ferry owner said it had bought the 39,000-dwt Cielo di Tocopilla (built 2014) from Italy's d'Amico group. Gotland ice-class MR tankers secure long-term charters The deal follows the acquisition of the sistership Cielo di Jari (built 2016) last year. VesselsValue assesses the latest
BW lifts Epic Gas stake to 83% with latest share deal Singapore's BW Group has boosted its stake in Epic Gas to 82.87% after another stock deal. LPG carrier owner Epic said BW had bought 207,497 shares for $1.66 each, a total of $344,000. This is the same price paid in the takeover offer that ended on 16 April. BW Group builds Epic Gas stake to 69% BW Group now owns 58.4m Epic shares. Following the ending of the voluntary offer, BW had a holding
TradeWinds poll: clear backing for slow-steaming TradeWinds readers have shown clear backing for the introduction of mandatory slow-steaming at the IMO. In an online poll, 61% of respondents were in favour of the measure, with 39% against. France has been leading a push to impose speed limits on vessels to move shipping towards the IMO's decarbonisation targets. TradeWinds poll: have your say on mandatory slow-steaming The move could also ra
Bumi Armada secures third FPSO project in India Malaysian floater specialist says partnership with local partner continues to pay dividends.
Vale says court halts Brucutu iron mining operations News comes as Eduardo Bartolomeo confirmed as Vale's permanent chief executive
IMO 2020 and low bulker rates to restrict orders at Yangzijiang Chinese shipbuilder may have to wait until next year to see newbuilding order volumes grow.
Harvey Gulf still kicking the tyres on mergers Harvey Gulf's Shane Guidry was less bombastic on M&A at Clarksons Platou's Oil Services Seminar in Houston Monday, but says the company is still looking. The New Orleans-based company's chief executive said a domestic merger makes sense, while an international one has to be "strategic." Fear on home front sees Harvey Gulf turn M&A sights overseas "I believe in M&A in the US, in the Gulf of Mexi
Holm: Offshore sector will be making money by 2020 Clarksons Platou analyst Turner Holm gave the offshore industry a pep talk Monday afternoon, promising that good times are ahead for the lagging sector. Holm told attendees at UK broker's Oil Services Seminar in Houston Monday afternoon that offshore was on the cusp of a demand-led recovery, thanks to rising rig counts and utilization rates for the largest OSVs, plus surging spot and term rates i
Tariff uncertainty hurts Great Lakes region Speakers talked Monday about the negative impact caused by the tariffs during a discussion co-hosted by Tariffs Hurt the Heartland and the Council of the Great Lakes Region.
Trump tweets unlikely to move container rates There is not enough time to front-load shipments if Trump acts later this week.
Executive Moves: CEVA Logistics, Marseille Fos
Executive Moves: Greenhouse gas emissions to robotics
COSCO to buy Singamas container manufacturing units
VLCC loads gasoil in Rotterdam, could supply West African market: Traders The Pacific M has subsequently loaded gasoil and is now sailing back toward West Africa, traders said.
Hamburg bunkers tight following issues with Russian crude Availability of high sulfur fuel oil at the German port of Hamburg was limited because of reduced deliveries to the port
FUTURES: Crude stable as market eyes fresh cues amid trade tensions "The Chinese team is preparing to go to the US for negotiations," Geng Shuang, a foreign ministry spokesman said.
TANKERS: Panama Canal Authority to tighten draft restriction to 43 feet The continued tightening of draft restrictions in the Gatun Lakes are based on the projected precipitation and water levels of the lake in the coming weeks.
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