Singapore smart tug project takes a big step forward Wärtsilä and Singapore harbor and terminal towage operator PSA Marine (Pte) Ltd. report a breakthrough in the IntelliTug project. The project is the first launched by the W'rtsil' Acceleration Center in Singapore
Inland port managers gain IAMPE certification The International Association of Maritime and Port Professionals (IAMPE) reports that 14 inland port managers have received their professional industry certifications at a management seminar hosted by America's Central Port in Granite
Maersk to pilot containerized onboard battery system A containerized 600 kWh marine battery system will be installed in a trial on the containership Maersk Cape Town in December 2019 to improve vessel performance and reliability while reducing CO2 emissions.
First box ship converted to burn LNG will now trial SNG The first containership to be converted to operate on LNG is to notch up another green first, operating on liquefied SNG (Synthetic Natural Gas) produced from renewable electrical energy as drop-in fuel.
Canaveral Fire Rescue orders advanced Metal Shark fireboat Jeanerette, La., headquartered shipbuilder Metal Shark has been significantly expanding its presence in the fireboat market with a wide range of fireboats currently in production for multiple customers. A notable recent order
SPONSORED Leave for FRW +++ Innovation is key to delivering superior customer service Introducing live chat technology has paid off for ONE, whose customers readily embraced the platform. A year into the implementation...
MR tankers expect a winter transatlantic boost Renewed focus on transatlantic trading follows the June closure of the Philadelphia Energy Solutions refinery, the region's largest, while strike...
IMO faces push to consider life cycle emissions of zero-carbon fuels Norway, South Korea and the UK are urging the International Maritime Organization to assess life cycle emissions but recognise the...
Shipping's low-emission drive should follow the auto lead Although there is no silver bullet to target a greener future, greater input from all stakeholders is a must, says...
2020 Bulkers expects acceleration in earnings after first profit The company says it will be disciplined in its investment strategy and currently has no plans to add further newbuildings
Singapore launches upgraded MFM bunker standard SS 648 also includes new requirements for multi-meter installations, which will cater for the delivery of different grades of bunker...
From the News Desk: The view from Shanghai Our regular round-up of the stories behind the headlines this week comes to you from Shanghai, where President Xi Jinping...
UK Club announces 7.5% premium increase 'Since premium rates declined further at the last renewal, the combined ratio reported this year may be higher than the...
Eagle Bulk aims to benefit from scrubbers as it sinks into loss The company, which should have 35 operational scrubbers by the end of the year, said it has hedged 10% of...
Finnlines focuses on green growth as profits rise Grimaldi Group company reports increased profits on the back of small rise in revenues
PSA Marine tests autonomous tug The IntelliTug project is a collaboration between the Maritime and Port Authority of Singapore, PSA Marine and Wärtsilä to develop...
Lack of finance demand leads to more leasing orders Bill Guo tells Lloyd's List that operating leases, which gives lessors more of shipowning role, will not become the mainstream
Freight forwarding faces worst year in a decade After a 'torrid start' to 2019, freight forwarding is set for its worst year in a decade as the global...
The Lloyd's List Podcast: Trade, Trump bashing and the unstoppable rise of Chinese leasing The Lloyd's List Podcast is in Shanghai this week where President Xi Jinping has been leading the discussions around trade...
Viewpoint: Learning from the past What shines out of this account of the last chapter of deepwater sailing ships is the fortitude of that generation...
Daily Briefing Free to read: Tanker owners delay scrubber retrofits to cash in on rate rises | Shipping's future relies on industry...
Cleaves takes gloomy outlook on dry bulk The analyst has reduced the general rating for dry bulk to 'hold' from 'buy'
Terntank orders first liquefied biogas-fuelled product tankers Terntank, which is one of the first owners to have LNG-fuelled product tankers built, seeks to solidify its green shipping...
Genco sees a strengthening dry bulk market The dry bulk carrier owner has installed scrubbers on 12 of its 17 capesize vessels, representing a 71% completion rate
Environmental campaigners block Canada's Trans Mountain Pipeline delivery In September, activists in kayaks on the Columbia River harassed a barge carrying pipes for the project. Protest leaders say...
Greek focus of oil spill investigation widens Some of the biggest Greek owners in the business say they are co-operating with the probe in Brazil in order...
Pangaea Logistics Solutions to offload two ships for $11m Pangaea Logistics Solutions plans to sell two older vessels for $11m in two separate transactions to undisclosed buyers. The Ed Coll-led bulker owner announced Thursday that it will sell 52,500-dwt supramax Bulk Juliana (built 2001) for $6.5m and 70,200-dwt panamax Bulk Patriot (built 1996) for $4.5m. Their sales will result in about $11m in cash flow yet lower the company's book value by $8.6m
Matson maintains forecast, meets expectations Matson's third quarter came in as expected and sees no need to cut its forecast further. The Hawaiian boxship owner reported a $36.2m profit for the three months ended 30 September, a drop from the $41.6m in the same period in 2018, but good for $0.84 on a per share basis, a penny better than the Wall Street predictions. Matson 'thrives in chaos' of US-China trade uncertainty Matson cuts second
Bulker chase lands Chinese company, Greek owner in US court Jiusan Group first arrested a bulker in South Africa over the dispute
Norwegian Cruise Line beats estimates despite Dorian disruption Norwegian Cruise Line Holdings trumped analyst consensus figures, while absorbing the financial impact from Hurricane Dorian that wrecked the Bahamas two months ago. Passengers protest on NCL cruiseship The New York-listed cruise major posted $482m in adjusted profit versus $506m in adjusted earnings during the same period last year. Adjusted earnings per share (EPS) came in at $2.23, beating t
Diana Shipping sells another ageing panamax bulk carrier Diana Shipping has sold its sixth panamax bulk carrier this year to date. The New York-listed shipowner has sold the China-built 73,700-dwt Clio (built 2005) to an undisclosed buyer for $7.4m before commissions. Does Diana Shipping's family plan work in public markets? Simeon Palios' daughter next in line to lead Diana Shipping Athens-based Diana has sold five other panamaxes since this yea
Tidewater sheds directors as activist-led reforms take hold Three directors have departed the offshore company, including its chairman
Genco's regular dividend provides 'optionality' for shareholder returns Genco Shipping & Trading has put forth a regular quarterly dividend policy as a way to provide "options" for returning value to shareholders, according to chief executive John Wobensmith. Genco Shipping to issue its first dividend in several years The New York-listed company late Wednesday afternoon announced plans to provide a $0.175 payout to shareholders every quarter, starting with the pas
Capesize slump pushes BDI below 1,500 for first time in four months Index sinks to lowest level since July amid thinning fixture lists and rising vessel availability.
UK lowers security risk for ships in the Strait of Hormuz The Royal Navy will stop accompanying UK-flagged ships in the politically and economically sensitive waterway.
Scorpio Tankers 'in the foothills of an inflection' STNG executives could barely contain their excitement at the cashflows they foresee in the months ahead.
Investors punish Top Ships stock on new Maxim raise Greek owner drops 56% in first hour on second warrants-fueled equity raise in two months.
Celebrity ship refloated after Galapagos grounding Passengers transferred to sistership after incident off Isabela Island
Crew evacuated after tanker fire off Singapore Blaze extinguished on Sampo Unyu's Hoyu, MPA says
Navios Acquisition confirms VLCC sale and wins term deals Greek owner banked $25.3m from offloading 2002-built ship to Vitol venture
Seaspan eyes next phase of growth but profit falls US-listed boxship owner completes $1.5bn portfolio financing programme.
International Seaways bullish on earnings after third-quarter loss narrows New York-listed tanker player has been shoring up its balance sheet and selling old tonnage
French shipowners call for investment backing for carbon 'transformation' Group says speed limits should be implemented 'without delay' to tackle decarbonisation.
Fully employed fleet helps GC Rieber stay profitable A six-month period of maximum fleet utilisation has helped GC Rieber Shipping stay profitable for a second consecutive quarter. GC Rieber staff lose appeal against sackings The Norway-based shipowner's fleet of subsea, ice/support and marine seismic vessels has been fully employed for the past two quarters. This has helped GC Rieber post a net profit of NOK 17.3m ($1.9m) for the third quarter,
Gard reports $65m profit and will not make a general increase in 2020 Norwegian mutual insurer says members will not have to pay more premiums next year.
BTIG targets LNG for boxship bunkers with new leasing vehicle Managing director Ole Slorer said $12bn to $14bn of capital has been raised for the next generation of ships
Carsten Mortensen adds fourth tanker to Dee4 fund Dee4 Capital venture raids Japanese owner for $16.5m ship
Teekay Offshore strikes leaseback deal plus $100m loan US-listed owner finances shuttle tanker newbuildings with series of new agreements
Hafnia finally wins senior listing - but at what cost? Pundits say a good company with bright outlook may have fallen victim to siren song of unrealistic expectations
Paved paradise an apt venue as shipping wrestles green agenda Carbon tax gains momentum amid climate-change challenge, although deep contradictions remain
Societe Generale chases fraud cash from failed bunker firm IPP Bank says it has lost some $90m in an alleged bunkering scam as it hunts to recover assets
Subsea 7 still in the black but warns 2019 will be 'low point' in profitability Subsea 7 expects its 2019 results to be muted compared to 2018, but revenue and profit should bounce back in 2020.
Teekay settles two legal claims with combined $47m payout Owner says payments related to disputes over an FPSO and an FSO
Costs of abduction and ransom pile pressure on insurers Pain for underwriters as ransom demands in Gulf of Guinea increase and the 'kidnap market' hots up
Pirates in Gulf of Guinea switch from oil to kidnapping seafarers Crew members, once regarded as an impediment to cargo theft, are now seen as a new revenue stream
Court extends takeover offer deadline for Bourbon Potential buyers have until 20 November to lodge bids for restructuring OSV giant
Samskip chief shrugs off Brexit ahead of new UK service Despite volatile volumes Dutch line launches new service between the UK and Continent
UK P&I Club seeks 7.5% increase in premium Insurer said rates are 'no longer sufficient' to cover claims
2020 Bulkers turns first profit and pays first dividend Tor Olav Troim-backed owner rewards investors after putting two vessels into operation in third quarter
Breakwater and Hayfin tie knot in bid to fill gap left by the banks Breakwater founder Andreas Povlsen tells how a five-year partnership led to a marriage
Wilh Wilhelmsen logs $17m loss due to Glovis stake Norwegian group saw change in valuation knock $37m off bottom line in third quarter
Guyana denies sale of state shipowner GNSC Government says talks ongoing with number of interested parties
Cleaves downgrades bulkers over rate softness and fleet supply Analyst sees weakness over next few months before resuming upward trajectory in 2020
Temasek bid for Keppel control to spark further consolidation Singapore's two largest shipyards face a likely merger following a similar trend in China and Korea
Inui Global president fends off 'activist' shareholders Yasuyuki Inui retains role after largest stakeholder demands he is replaced
Yasa Holding back in suezmaxes with Daehan Shipbuilding order Turkish owner exited the tanker segment in 2015, selling off a quartet of vessels
Lithuania's KN aims to acquire Hoegh FSRU Independence State-backed energy company says it will look to secure funding for deal before April 2020
Moby ferry runs aground off Stockholm after power failure Vessel expected to return to service following safety inspection by Swedish authorities
Analysts lower GasLog expectations despite positive outlook Two analysts have lowered expectations for GasLog after the company fell short of expectations on its third quarter earnings. The New York-listed gas carrier owner posted $25.5m in adjusted profit for the three months ending 30 September, good for $0.01 in adjusted earnings per share - much lower than the $0.07 consensus. GasLog profits fall as revenues rise in strengthening market GasLog also
Eagle Bulk misses Wall Street consensus amid 'volatile' quarter Eagle Bulk Shipping landed on the red side of the ledger amid an unpredictable market, falling short of analysts' estimates. The Gary Vogel-led owner of supramaxes and ultramaxes posted a $4.56m deficit for the third quarter versus a $2.58m profit for the same period in 2018. Loss per share came in at $0.06, missing analysts' expectations by $0.04. Revenue gained $5.1m to $74.1m, but that was of
Sinotrans delivers scary Halloween third quarter results... or does it? All may not necessarily be as it may first seem in the world of company earnings. Dry bulk, ocean container shipping and logistics company Sinotrans...
Nippon Cargo Airlines joins cargo.one booking platform Airline is first Asian carrier to adopt platform
GM sells shuttered Lordstown plant to Workhorse founder General Motors Co. confirmed the sale of its shuttered Lordstown Assembly complex in northeast Ohio to startup Lordstown Motors Corp., which plans to build a...
Appeals court finds UPS liable for illegally transporting contraband cigarettes in New York A federal appeals court on Nov. 7 upheld a lower court's ruling that shipping giant United Parcel Service Inc. is liable for illegally shipping hundreds...
Transfix CEO wants less waste, more competition in freight brokerage industry McElroy wants to see a more efficient brokerage industry. He believes competition is promoting that.
More efficient freighters to help Lufthansa after soft 3Q earnings Operating profit for Lufthansa Group dipped slightly in the third quarter from a year ago in the face of higher fuel costs and subpar performance...
Drug/Alcohol Clearinghouse delay: Bad move for truck safety? Splitting up enforcement deadlines for the rule could cost millions in benefits.
Study: Americans' tab for tariffs $7.1 billion in September Between February 2018 and September 2019, U.S. consumers and businesses spent an additional $38 billion on products due to tariffs on Chinese goods, Tariffs Hurt...
Field of pipe dreams? Report finds 65% of hemp growers don't have buyers for their crops.
EKA launches cloud-based marketplace solution The company also announced a collaboration with telematics provider Transflo.
Containership charterer Seaspan eager to grow its fleet Seaspan Corp. says there are attractive opportunities to increase the size of its fleet.
New Jersey trucking owner slapped with two-year sentence for $2 million tax evasion scam Federal judge sentenced New Jersey trucking company owner to two years in prison for orchestrating an elaborate $2.3 million tax evasion scheme.
Tough comps rear their ugly head again Third-quarter earnings reports and economic data swing in carriers' direction, but not enough to move the needle in this week's DHL Supply Chain Pricing Power...
Freight Futures daily curve: 11/7 Trucking Freight Futures pointing towards an uncertain to negative rate environment.
Shipping earnings roundup: Here come the dividends With profits around the corner, listed shipping companies are reopening the dividend spigots.
First snow of the season hitting interior Northeast (forecast video) First New England snowstorm of the season arriving "right on time." Local, regional freight impacts possible.
ELD mandate's hard deadline is here and adoption rates are still a concern The hard deadline for the ELD mandate hits on December 16, and a significant portion of the fleets that run AOBRDs are looking to put...
Tokyo to join Virgin Australia cargo network New service to begin in March 2020
US imports from China crash 25% as trade diversification accelerates A United Nations report concludes U.S. consumers and Chinese exporters are the primary losers in the trade war. Taiwan, Mexico, Europe and Vietnam are net...
Today's Pickup: Waste mountains of EV batteries a possibility with current mediocre recycling systems Governments need to bolster electric vehicle battery recycling infrastructure; American worker productivity declined by 0.3% this quarter; Brazil plans to double oil output.
Third-quarter net profit falls for Genesee & Wyoming Third-quarter revenue fell for the shortline operator.
FreightWaves LIVE forecast: big chill in the Windy City Bitter cold snap coming to Chicago next week during the freight industry's hottest event. Bundle up!
Rail recession in volume only Market expert Michael Baudendistel writes about whether there is a rail recession, or are railroads paring operations and employees to fatten their bottom lines.
SmartDrive video insights: the path to being more than just a camera company This is another in a series of videos produced by FreightWaves and SmartDrive, recorded at the recent SmartDrive Customer Conference in Atlanta. FreightWaves editor-at-large John...
Fees and duties analytics can help supply chains weather global tariff wars Enterprise supply chain solutions provider LLamasoft has introduced a new taxes and duties analytics service on its platform, which will help companies navigate the complex...
Volvo rolls out electric "urban" trucks in Europe A year after announcing a range of e-trucks for the U.S. market, Volvo Trucks has started selling all-electric models in Europe.
Economic slump weighs on October rail volumes U.S. rail volumes fell 8.1% amid trade uncertainty and "sluggish" growth abroad.
Norway's Havyard Group takes step towards hydrogen for bunkers Timeline for sea trials is not exact but company eyeing 2021.
Opportunities for Chinese oil market in IMO 2020 switchover: ESAI Energy IMO 2020 presents various opportunities for the Chinese oil market, ESAI Energy said Thursday.
Crude futures settle higher on US-China trade prospects Better prospects for a US-China trade deal add some bullish sentiment in crude markets.
Sinopec's Shanghai Petrochemical starts commercial LSFO production "The first commercial cargo of LSFO has been shipped to Gaoqiao port in Shanghai for bonded bunkering ... "
Tankers may begin switch to VLSFO bunkers in November: Ardmore Shipping During the call Tuesday, the company included an outlook on the switch from high sulfur bunker fuel.
GCC Bunkers ceases offering IMO 380 in USGC ports ahead of IMO 2020: source GCC Bunkers is no longer offering IFO 380 in its US Gulf Coast markets as it switches exclusively to 0.5%S bunkers.
Crude rebound stalls as US stocks build, China doubts Crude futures followed equities lower Wednesday on news that a meeting between the US and China on trade may be delayed.
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