GAO: Navy's estimate of Columbia Class cost "not realistic" A GAO (U.S. Government Accountability Office) report says that Navy's cost estimate to construct 12 Columbia class submarines-$115 billion-is not realistic because it is based on several overly optimistic assumptions, such as
Chinese yard plans to build 270,000 cu.m LNG carrier China's Hudong-Zhonghua Shipyard is planning to build a 270,000 cu.m LNG carrier - the largest ever ship of this type, reports classification society DNV GL. DNV GL signed a joint development project
ABB to supply solutions for second Lindblad icegoing cruise ship ABB is to supply power, automation, propulsion and digital systems for the second icegoing cruise ship to be built for Lindblad Expeditions by Ulstein (see earlier story). ABB will deliver a full
Harvey Gulf to retrofit LNG-fueled PSVs to battery-hybrid The first LNG fueled platform supply vessel in the America's will soon be even more efficient and environmentally friendly. Harvey Gulf International is to retrofit its Harvey Energy with an energy storage
Interlake orders newbuild Great Lakes bulker under an agreement recently signed with the Interlake Steamship Company, Fincantieri Bay Shipbuilding is to construct the first U.S.-flagged Great Lakes bulk carrier to be built in more than 35 years The
Keppel Singmarine to develop autonomous tug Keppel Offshore & Marine subsidiary Keppel Singmarine has begun the development of an autonomous tug that is expected to be one of Singapore's first autonomous vessels when the project is completed in
Wärtsilä launches hi-res K-band radar Wärtsilä has launched its RS24 high resolution radar, the world's first commercially available K-band maritime radar. By detecting far smaller objects and at a much higher radar resolution than conventional S or
Digitalisation will create greater uncertainty for shipping Digitalisation will bring transparency to entirely new levels and the industry needs to adapt to this new reality, because it...
The Lloyd's List Podcast: Live from Singapore Maritime Week If you're not already signed up to attend our Smart Ports Forum, you might just about be able to secure a...
Shipping is struggling to attract digital talent Maritime companies get a fraction of the digital talent pie compared with other sectors and costly recruitment is compounded by...
Greater sanctions due diligence urged after US labels Iran troops as terrorists 'It is not possible to go to the Iranian equivalent of Companies House and check shareholdings. And even if you...
Shell tweaks lubes to make way for low-sulphur transition Shell plans to roll out new product first in Singapore from June 1, followed by other key ports
Scorpio offshore strategy paying off Scorpio and Nordic American Offshore chief Emanuele Lauro believes fortunes will turn in the offshore sector
US box imports begin rising again High-spending US consumers behind a rise in imports in March
Betting on the unknown Scrubbers will only win the day if the spread between low- and high-sulphur fuels remains high
Reported piracy and sea robbery lowest in Asia since 2007 No crew abductions reported during the first quarter in Asia but anti-piracy body maintains its advisory to avoid high-risk areas...
Capesizes scrape off the bottom Market participants anticipate a recovery in the second half of the year
Maersk Product Tankers makes headway in challenging market The past year was financially challenging for Maersk Product Tankers, with the lowest spot market rates for a decade. Even...
Swedish Club in the red after poor investment returns The free fall in equity markets in December last year led to the booking of a negative investment return of...
Plane sailing Most conferences are a combination of speakers and networking. If the speakers can be heard online, where does that leave...
Singapore to develop digital technologies to manage vessel traffic The VTMS will use smart algorithms to predict high traffic areas and avoid potential collision situations
ONE opts for scrubbers but keeps faith in compliant fuels ONE's move comes as boxships' take-up of scrubbers accelerates
Daily Briefing Libyan crude exports hit buffers | Financiers in shipping 'limbo' | Gulf of Guinea dominates piracy count | US renews Venezuelan...
Singapore lines up quintet of autonomous ship projects MPA is co-funding five projects anchored by Singapore's leading maritime names and classification societies that will advance the port nation's ambition...
Singapore launches developer space for maritime innovations Dubbed the Maritime Innovation Lab, the new facility serves as a co-creation platform for maritime innovations
Maersk backs SME trade platform Backed by Maersk Growth, the IncoDocs platform offers a library of trade document templates with smart auto-fill, copy and compliance...
Keppel launches remote tug project as Singapore vies for autonomous shipping leadership The project, co-funded by a $2m grant from MPA, involves retrofitting a tugboat that will be delivered in the fourth quarter...
Indian Register seeks Asia Pacific growth via Malaysia and Thailand Additionally, IRClass has secured newbuilding projects in China, Japan, Korea and Malaysia
Singapore launches one-stop maritime data repository New centralised data platform provides real-time access to ship-related data such as vessel information, vessel arrival and departure time and...
Singapore must adapt to survive, argues trade minister Opening Singapore Maritime Lecture sets out robust defence of city-state's maritime hub status, but minister argues trade should not be...
Maersk Product Tankers' new strategy challenges shipping to seek higher standards The chief executive officer of Maersk Product Tankers, Christian Ingerslev, wants to disrupt the industry through digitalisation that will enable...
CMA CGM Libra ruling raises bar on seaworthiness, WFW argues 'Shipowners will have to ensure that, through agents and servants, due diligence is exercised to produce a non-defective passage plan...
Brazil auctions off six more terminals Privatisation push has seen 10 terminals auctioned off in the past month, with another three expected before May
Keppel launches remote tug project as Singapore vies for autonomous shipping leadership The project, co-funded by a $2m grant from MPA, involves retrofitting a tugboat that will be delivered in the fourth quarter...
Indian Register seeks Asia Pacific growth via Malaysia and Thailand Additionally, IRClass has secured newbuilding projects in China, Japan, Korea and Malaysia
Singapore launches one-stop maritime data repository New centralised data platform provides real-time access to ship-related data such as vessel information, vessel arrival and departure time and...
Singapore must adapt to survive, argues trade minister Opening Singapore Maritime Lecture sets out robust defence of city-state's maritime hub status, but minister argues trade should not be...
Maersk Product Tankers' new strategy challenges shipping to seek higher standards The chief executive officer of Maersk Product Tankers, Christian Ingerslev, wants to disrupt the industry through digitalisation that will enable...
CMA CGM Libra ruling raises bar on seaworthiness, WFW argues 'Shipowners will have to ensure that, through agents and servants, due diligence is exercised to produce a non-defective passage plan...
Brazil auctions off six more terminals Privatisation push has seen 10 terminals auctioned off in the past month, with another three expected before May
BHP freight team likely to escape job cuts Aussie mining giant reportedly looking to trim part of its workforce by up to 30%.
Viking Cruises heads deeper into Chinese market The Swiss cruiseship owner partners with China Merchants to create cruise line for Chinese market.
Heated secondhand MR tanker market favours young tonnage But the upside in asset values for older tonnage cannot be ruled out due to strong prospects for earnings
Spliethoff scoops up more Hansa Heavy Lift ships The Spliethoff Group continues to raid Hansa Heavy Lift. This time, the Dutch company made a sweep for five more MPP tween deck vessels from the bankrupt German shipowner. The deal includes the 20,100-dwt Pieterscracht (built 2012), formerly known as the HHL Kobe, and four 19,450-dwt ships, the former HHL Lagos (built 2011), HHL Fremantle (built 2011), HHL Richards Bay (built 2010) and HHL Tokyo
Norwegian's del Rio: Consumer thirst for experiences will grow Millennials want experiences instead of more things, Norwegian Cruise Line chief executive says.
Union rallies in Washington to save Philly Shipyard Union officials want Congress to step in and save Philly Shipyard. Members of the AFL-CIO's Metal Trades Department rallied in Washington DC Tuesday morning, in part to urge legislators to get the Pennsylvania shipbuilder a government contract. US shipbuilders say they can handle LNG carrier challenge Matson receives newest Philly Shipyard-built fleet addition "With the US shipbuilding industr
Cruise CEOs: public view on big ships needs changing Carnival Corp chief executive Arnold Donald says bigger ships are more efficient.
Clarksons and FIS launch digital shipbroking platforms Two of shipping's best-known broking shops have launched digital platforms that aim to bring trading processes together in one place - without replacing human brokers. Clarksons, the world's largest shipbroker, has launched Sea.Live, a web-based app for the "seamless" management of fixtures from start to finish. Meanwhile, Freight Investor Services (FIS), a specialist in forward freight agreemen
Tributes flow for former Clarksons chairman and 'mega-broker' Hugh McCoy Tributes are flowing for former Clarksons and Baltic Exchange chairman Hugh McCoy who died this weekend. McCoy joined Clarksons from Cleaves & Company in 1983 and was later an influential figure at The Hadley Shipping Company until retiring in 2015. Clarksons said McCoy was widely regarded as one of the most brilliant S&P brokers of his generation and was appointed chairman in 1992, leading the
John Fredriksen set for profitable private product tanker deal with Vitol Shipping tycoon John Fredriksen is set to pull off a tidy piece of sale-and-purchase business in the product tanker market. Fredriksen moves bulkers from private firm to Golden Ocean in 'bombed out' market Fredriksen turns focus to plan succession strategy and mergers Fredriksen's Seatankers is understood to be closing in on a gain of around $6.5m from the flipping of the 115,700-dwt Sea Tana
Crewman arrested seven years after faking own death A Chinese seafarer has been arrested more than seven years after allegedly faking his own death. The crewman named as Zhang, 40, is facing a fraud trial after he claimed compensation from a shipping company, prosecutors in Shanghai's Hongkou District said, according to the Shanghai Daily. Most of the nearly CNY 800,000 ($120,000) payout was used to settle debts and his father's medical fees, as
Smit lifts the lid on dangers of Maersk Honam salvage Company says insurers need to be aware of the extent of hazardous waste disposal following mega-boxship fires
Sovcomflot signs for first Arctic LNG 2 carrier Russian gas producer Novatek has said state shipowner Sovcomflot (SCF Group) has signed a firm contract for the first LNG carrier for its Arctic LNG 2 project. A deal had been expected at the far east Zvezda shipyard since January. Sovcomflot poised to order first ship for Arctic LNG 2 Sovcomflot strikes $149m loan for LNG carrier A representative of the company told the Kommersant daily: "Sov
New York's shipping newcomers tipped to shine among 'coiled spring' of maritime stocks Wall Street's newest shipping company and the industry's likely next representative in the US capital markets are among the fresh names added to a basket of stocks with a positive outlook covered by Clarksons Platou Securities. Evangelos Marinakis and Craig Stevenson Jr-backed Diamond S Shipping and John Fredriksen's Flex LNG have both been handed initial buy ratings by analysts led by Frode Mor
ER Capital disenchanted with shipping Erck Rickmers reveals that shipping is no longer at the forefront of his family-owned business.
Concordia Maritime's cleaners tackle plastics menace Swedish owner Concordia Maritime has hailed a "fantastic turn-out" for its second coastal clean-up drive in the Gothenburg archipelago. More than 100 people gathered to collect rubbish from the shoreline and filled numerous sacks to the brim on Saturday, it said. Try the Concordia Maritime plastics quiz Concordia tankers to gather microplastics data The event was organised by the tanker compan
Genting cuts loss to $213m as revenue rises Cruiseship and yard player Genting Hong Kong saw a "slight improvement" in 2018 as it reduced its red ink. The company said the net deficit last year was $213.3m in 2018, compared to $244.3m in 2017. Genting buying controversial $250m superyacht Revenue was $1.6bn, up from $1.2bn, mainly due to the inclusion of the first full-year operation of two Dream Class vessels and higher third party reve
Crew rescued from burning ro-ro off Saudi Arabia All 31 seafarers have been rescued safely from a burning Egyptian ro-ro off Saudi Arabia. Houston Ship Channel closed again as storm hits clean-up operations The incident involving the 756-lane-metre Al Fayrouz (built 1980) took place 60 nautical miles west of Fursan island on Monday, the Almowaten website said. The report said the vessel had been "completely burned". French rescue authorities
AP Moller-Maersk's venture capital arm invests in IncoDocs Maersk Growth says it wants to use its capital and expertise in shipping and logistics to help the online trade documentation tool provider expand
Shearwater wins Barents Sea work for Norwegian Government Shearwater GeoServices is to conduct an offshore survey in the Barents Sea on behalf of the Norwegian Petroleum Directorate (NPD). The one-month contract comprises seismic data acquisition and full data processing both onboard and onshore, commencing in the third quarter. Survey work will be conducted by Shearwater's vessel Amazon Conqueror (built 2015), which is equipped with Isometrix technol
Singapore ready for IMO 2020 The world's largest bunker port says it will be able to meet demand for both high sulphur fuel and low sulphur fuel when the IMO 2020 kicks in.
BULL builds tanker acquisition war chest with $84m raise Indonesian tanker owner Buana Lintas Lautan (BULL) is looking to raise IDR 1.2 trillion ($84.3m) as it eyes fleet expansion. The rights issue will involve 3.31bn new shares sold at IDR 275 each for a total of IDR 909.7bn, it said in a notice published in domestic media. BULL buys Pappas product tanker as fleet expansion plans kick off BULL taken off Pertamina blacklist Existing investors will
V.Group leads tribute to Lars Gerner Jensen of Dania Ship Management V.Group has paid tribute to Lars Gerner Jensen, an executive at joint-venture partner Dania Ship Management, who died while on business in the US. Jensen was in New York when in died on Monday, the company said, without revealing further details. "Lars was very well liked by colleagues and clients around the globe," a statement posted on the V.Group LinkedIn group said. "His pleasant beari
Reach Subsea adds contracts worth $8m Norway's Reach Subsea has clinched new subsea survey and inspection contracts for the 2019 summer season. The combined firm value is NOK 70m ($8.2m), it said, without naming the clients. "These contracts also contain optional periods, which, if called upon, would increase the firm contract value considerably," it added.
Damen Mangalia looking to recruit after orders boost A run of new orders has prompted a recruitment drive at Damen's Mangalia shipyard in Romania. Damen acquired a stake in the shipbuilder from DSME of Korea last year and operates it with the other major shareholder, the Romanian state. The economy ministry said that new contracts will allow the yard to operate at full capacity this summer, according to SeeNews. Atle Brynestad lines up second $18
DNB Asset Management builds holding in John Fredriksen's Frontline as stock climbs DNB Asset Management has topped up its holding in John Fredriksen's Frontline in a move which positions it as the largest outside investor in the company. Frontline sees shares spike as Pareto Securities predicts tanker turning point John Fredriksen's Frontline excited by upside-down VLCC market in 2019 Funds managed by DNB snapped up an extra 350,945 shares in the Oslo and New York-listed tank
New German ship-finance trends emerge amid shake-up of banks Anyone attending the TradeWinds Shipowners Forum in Hamburg would have been immediately struck by how the German shipping industry has changed. A few years ago, such gatherings were populated by a splattering of KG (limited partnership) managers and tens of shipping bankers. It is a sign of the times that their numbers were exceeded by ex-shipping bankers in new roles last week - and that is a t
Beware of tweets and false news based on guesswork and wishful thinking, Bimco warns Inaccurate reports about VLCCs unloading US oil in China reveal the fragile state of tanker markets
TNG expects better MR rates from IMO 2020 Croatian MR owner Tankerska Next Generation (TNG) is expecting better rates this year as the effects of IMO 2020 legislation begin to be felt. CEO John Karavanic said: "The shift to low-sulphur fuel oil is expected to result in a significant increase in demand for compliant fuels together with the dislocation of global refining capacity. TNG secures more MR tanker cover Trafigura moves for TNG
Deutsche Bank cuts Scorpio Bulkers on weaker rates Weaker bulker rates have caused a cut in Deutsche Bank's (DB) first quarter forecast for Scorpio Bulkers. Analyst Amit Mehrotra said it has cut its estimate for EBITDA to $14m from $23m, versus a consensus view of $24m. Scorpio Bulkers and Ocean Yield seal double ultramax sale and leaseback Scorpio's Bugbee: Eve of IMO 2020 will be 'chaos' This reflects softening spot rates, he said. "While S
Star Bulk brings in Pareto to boost liquidity Greece's Star Bulk Carriers is trying to boosting its liquidity in a deal with Pareto Securities. Star Bulk and ER Capital abandon $115m capesize deal The bulker owner said it had signed a market maker agreement from Tuesday. "The purpose of the agreement is to enhance liquidity in the trading of the company's shares, listed on Oslo Stock Exchange," it added. A market maker usually undertakes
ICS, ASA and ECSA team up to combat geopolitical threats Trio hope closer ties will help prevent "unwelcome" regional or unilateral initiatives harmful to shipping.
Shipping sees fewer incidents of piracy in 2019 Kidnapping risk in Gulf of Guinea persists, but IMB points to improvements in Nigeria and Indonesia
Containership comes under fire from skiff off Ecuador Security threat off South American nation escalates with first reports of gun fire targeted at ship.
Proposed U.S. tariffs in reaction to EU aircraft subsidies The USTR has listed for retaliation about 315 items, including agricultural products, apparel, ceramics, metals and kitchen goods.
Commentary: Strikeout for MLB's Cuban baseball deal The White House on Monday declared that an agreement to offer Cuban baseball players "a safe and legal path" to Major League Baseball teams is illegal.
CMA CGM to own 97.89 percent of CEVA The French shipping giant plans to delist CEVA from the Zurich Stock Exchange and set up an operational center in Marseilles.
WTO panel finds duties on Canadian softwood unfair There is no word yet on whether the Trump administration might appeal the ruling.
Grassley again pushes for removal of 232 tariffs The Iowa senator linked removal of steel and aluminum tariffs on Canada and Mexico to a favorable congressional consideration process of the U.S.-Mexico-Canada Agreement.
Dublin Express leaks up to 100,000 gallons of fuel oil The Hapag-Lloyd containership was verified as the source of tar balls located in a New York park, according to a command of state and federal agencies and the responsible party.
FMC reviews 18 OTI license applications
Mandatory electronic information exchange in effect
STEO HIGHLIGHTS: EIA boosts Brent, WTI forecasts as market expects higher prices The US Energy Information Administration on Tuesday raised its forecasts for WTI and Brent prices as it said market activity indicates that recent inventory withdrawals and unplanned supply distributions have participants bracing for higher oil prices.
Trans-Pacific container rates strengthen, space utilization rises Container rates on trans-Pacific routes jumped over the first few days of April as increases sought by carriers at the end of March gained some traction.
FUTURES 5: Crude weakens amid signs of cracks in OPEC+ facade Crude futures edged lower in Tuesday trading to settle below five-month highs amid profit-taking and easing of global supply concerns.
Japan's MOF approves multiple deliveries of bunker fuel from one barge from Apr Japan's Ministry of Finance has approved multiple deliveries of bonded bunker fuel from one barge across the country from April, an official at the ministry said Tuesday.
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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