Kongsberg wins major power-by-the-hour service contract When Norway's Kongsberg Group acquired the Rolls-Royce Commercial Marine (RRCM) business, it took on board an operation that in 2018 reported an underlying loss of about $45 million. It is understood that
WinGD and ExxonMobil put their smarts together Winterthur Gas & Diesel (WinGD) and ExxonMobil are collaborating to integrate WinGD's Integrated Digital Expert (WiDE) predictive maintenance technology and the Mobil Serv cylinder condition monitoring service. They say that this will enable
Giant box ships face Houston Ship Channel limits Faced with growing traffic through the Houston Ship Channel, the Port Commission of the Port of Houston Authority met in special session Monday and, as an interim measure, adopted a resolution putting
Viking and China Merchants plan new cruise JV Viking Cruises and China Merchants Group plan to set up a joint venture focused on building a cruise line with worldwide cruise offerings for the Chinese cruise market. China Merchants Group's shipbuilding
France seeks speed restrictions on ships France has submitted a proposal to IMO's Marine Environmental Protection Committee (MEPC) calling for speed restrictions to be placed on ships as an initial first step to reduce greenhouse gas (GHG) emissions
USCG cuts holding time requirement for Alfa Laval PureBallast 3 Alfa Laval PureBallast 3, the third generation of Alfa Laval's ballast water treatment technology, has received an updated type approval from the U.S. Coast Guard (USCG). The new certificate makes it possible
Keppel Nantong delivers ultra low emission dredge Keppel Singmarine's Nantong, China, shipyard has delivered the world's first dredge to meet European Union Stage V emissions requirements for inland waterways vessels. The dredge, named Afonso de Albuquerque, is the first
Smart ports require smarter thinking Lloyd's List Forum exploring the opportunities and challenges in connecting 'smart ports' concludes that technology is achievable - getting buy-in...
Claritecs signs deals to pilot web-based BunkerMaestro platform The owners of the product claim it can boost efficiency by at least 30%, increase bunker tanker utilisation rate by...
Sinopec to harbour Hambantota's bunkering ambition Saliya Wickramasuriya, senior adviser to the HIPG chief executive, tells Lloyd's List that the port is also looking to bring...
Singapore wins fourth consecutive maritime crown Maritime experts who took part in the report predicted that Singapore would continue to retain its top position in the...
Vessel mortgage hindering scrubber finance, WFW argues Banks are reluctant to lend without security interest in collateral, and once a scrubber is installed it becomes an 'appurtenance'...
France pushing for mandatory speed limits The country wants to tackle greenhouse gas emissions with official proposal to the IMO
A Norway-style deal for UK shipping Norway uses an incentive programme to coax shipping companies into lowering nitrous oxide pollution. A similar incentive measure could be...
No major disruption for freight market from lower-sulphur fuel switch SwissMarine's freight analyst Joe Tobin says he fears more for future fuel supply rather than the initial sulphur switch
Maran Gas agrees further LNG carrier option with Daewoo DSME has so far landed four LNG carriers this year - all from Angelicoussis
Floods hamper US Gulf coast grain shipments US Gulf loading activity, especially of corn, will be negatively influenced well into June 2019 to the tune of 2m...
Golden Ocean invests in Singapore Marine Golden Ocean has provided $10m in equity and $10m in a subordinated shareholder loan to Singapore Marine
US car tariffs could bring more pain to box lines Additional charges on imported vehicles and components threatens to add more pressure on carriers and container terminals
NORD/LB sells $2.9bn shipping loan portfolio German lender cut its non-performing loans to $5.5bn after portfolio sale to Cerberus
CMA CGM completes tender for CEVA Swiss logistics operator will be delisted as it is merged into CMA CGM operations
Panalpina proposes Thomas Kern as new chairman Annual meeting will vote on new chairman and on dropping dividend ahead of sale to DSV
Former Baltic Exchange chairman Hugh McCoy dies, aged 80 McCoy served as the Baltic Exchange chairman between 1998 and 2000
Daily Briefing Terrorist tag incentivises greater due diligence on Iran | ONE reluctantly joins scrubber ranks | Singapore must 'adapt to survive'
Singapore keeps up digitalisation drive with slew of initiatives Innovation, change and digitalisation are broad areas of focus and over the next three years MPA will concentrate on digitalisation...
Port of Houston restricts containerships at request of energy companies The port of Houston is reached by a 50-mile channel from the Gulf of Mexico, with hundreds of ships traversing...
Gerry Wang recruits Sinochem crew for start-up The former head of containership giant Seaspan has raided competitor for LNG box project
Path cleared for sale of China's largest chemical tanker owner Financial sources say obstacles to takeover of Sinochem shipping division have been overcome
Newly-built MSC boxship caught in cross-fire of HNA sell-off row Jinhai yard's failure to to repay $18.6m advance leads to charterer MSC missing first loading
Nakilat looks to grow fleet as it shifts into chartering play Chief executive Abdullah Al-Sulaiti tells TradeWinds how the company has made a 'step change' with new four-ship Maran Gas Maritime joint venture
BlackRock cuts Nordic American Tankers position BlackRock, the top institutional investor in Herbjorn Hansson's Nordic American Tankers, has cut its stake just below 5%. According to Securities and Exchange Commission filings, the New York asset manager rolled back its position from 7.4 million shares to just over 7 million, bringing its position to 4.97%. It remains the leading investor in the tanker owner, ahead of Morgan Stanley by roughly
Navios Maritime Holdings shareholder lawsuit dismissed New York-listed shipowner's attorneys call the case 'completely baseless'
V.Ships partners with Ritz-Carlton Yacht Monaco-based ship manager will handle crew recruitment, procurement, nautical operations and safety for the fledgling cruiseship owner.
Morgan Stanely: Tankers to come up short in first quarter Morgan Stanley is expecting public tanker owners to fall short of consensus forecasts in the first quarter, but it shouldn't scare off investors ahead of the seasonal downturn. Analyst Fotis Giannakoulis expects Ebitda for the peer group to come in roughly 6% lower than expectations, even though spot rates were up year-over-year. Investment? Shipowners told they need to earn it Bugbee says inve
Market watches Sanko ship to see if record capesize sales drought can come to an end Dry cargo players are closely watching to see if the long wait for a capesize sale will be ended this week, potentially opening the door for an acceleration in deals and establishing a clear new benchmark on price. Alpha Bulkers 'scraps cape pair' in rising demo market Peter Weernink assembles all-star shipping investor list for comeback venture No capesize has been sold for further trading thi
Claims from Bow Jubail bunker spill top $50m Legal row over which international oil pollution compensation regime should apply to Rotterdam chemical tanker incident goes to appeal
Shipowners must stick together - for the many, not the few Increased teamwork on a global scale should not focus on resisting progressive policies
Alpha Bulkers 'scraps cape pair' in rising demo market Healthy prices and slumping freight rates encourage owners to recycle big bulkers
Knutsen OAS Shipping trims 'non-core' product tanker fleet Norwegian shipowner Knutsen OAS Shipping has sold a small product tanker to Algoma Central of Canada. Knutsen director Jon Einar Dalsvag confirmed the sale of the 16,500-dwt Louise Knutsen (built 2010), which has reportedly gone for between $15m and $16m. It has already been renamed Algoterra. "This is not core business for us," Dalsvag said of the product tanker sector. Klaveness Marine takes
Shanghai sees top turnout at LNG conference as growth spurt looms There was a significant whiff of expectation in the air at the huge LNG2019 meeting in Shanghai last week. Or as one shipyard chief put it: "The rice has started steaming." Company officials dropped extensive hints about how close they are to taking final investment decisions on their new liquefaction projects. Nigeria LNG even named the time, date and place - 11.20am on 31 October in Port Harco
Public offshore firm was never the plan, says Emanuele Lauro Scorpio group boss says he never intended to take offshore assets public, but taking control of Nordic American Offshore has created a platform for growth
Brunel letters show there's nothing new about shipping's eco concerns Concerns over shipping's impact on the environment are nothing new, as a recently discovered cache of letters has illustrated. Writing 175 years ago, British engineer Isambard Kingdom Brunel noted his fears that ships, trains and factories were harming the natural world. The top-hat-wearing polymath worried that factory waste was polluting water supplies, but seemed to be more concerned over ho
Celsius Shipping strikes $53m deal for product tanker trio Jeppe Jensen's Celsius Shipping has struck a three-ship deal to extend the expansion of its product tanker fleet. The Danish shipowner has bought a trio of medium range vessels from a joint-venture between Glencore and Transpetrol. Celsius Shipping cuts new turf in the product tanker market with Interorient deal Heated secondhand MR tanker market favours young tonnage Jensen, chief executive o
US auto tariffs to hit boxships, car carriers Proposed US car tariffs will hit container lines and car carrier owners if implemented in the second quarter. This is according to shipping consultancy Drewry. "In our analysis we assume tariffs will be imposed in the second quarter (mid-May) and that US importers will start passing extra costs to consumers and supply chain stakeholders by the fourth quarter," said Neil Davidson, Drewry's senior
Stowaways call 999: "We're stuck in a container" Six stowaways were caught on a Finnish ro-ro in the UK after calling emergency services in desperation. The Sun reported that the African men had boarded owner Bore's 25,600-gt Bore Song (built 2011) in Zeebrugge, Belgium, last month. When it reached Teesport in England, they dialled 999 and said: "We are stuck in a container." The migrants had become desperate by 2 April after being locked in
Steamship issues Venezuela sanctions warning UK insurer Steamship Mutual has issued a warning to members over trading with Venezuela. The move comes after an apparent widening of US sanctions against the South American country to include shipping oil to Cuba - and potentially elsewhere. Greek tanker caught up in Venezuela sanctions net Greek operator Proper In and its 72,000-dwt tanker Despina Andrianna (built 2000) were blacklisted last
Monjasa expands board with DFDS' Pedersen Danish bunker and tanker group Monjasa has strengthened its board with the appointment of DFDS' Peder Gellert Pedersen. Monjasa boosts bunker volumes but profit dips The acting executive vice president of DFDS' ferry division, Pedersen brings 40 years of hands-on experience in international shipping. His is the fifth name on the list of Monjasa directors. He "will engage in the further develop
Asian owners call on India and China to back HKC The Asian Shipowners' Association (ASA) has "warmly welcomed" Japan's ratification of the Hong Kong International Convention (HKC) on ship scrapping - but is pushing for more sign-ups. EU recycling list smacks of protectionism, says Bimco It said there have been significant improvements in recycling facilities around the world and it "firmly believes that now is the time for action." Japan rati
Iran seizes tanker suspected of smuggling Iran has seized a tanker suspected of smuggling fuel in the Strait of Hormuz. The Tasnim news agency said the Islamic Revolution Guards Corps (IRGC) intercepted an unnamed 131-metre vessel in the country's southern waters on Wednesday. The cargo of 78,600 barrels was confiscated and 21 people of different nationalities were arrested. IRGC navy commander rear admiral Ali Reza Tangsiri said on We
LR reveals world's biggest autonomous ship project UK classification society Lloyd's Register (LR) has teamed up with two Asian partners to develop what it claims will be a "world-first" autonomous navigation systems for ships. It will work with Singapore IT player ST Engineering Electronics (STEE) and trader Mitsui & Co on the project. The agreement forms part of the Singapore Maritime and Port Authority (MPA)-funded "World's Largest Ocean-Goin
Peter Weernink assembles all-star shipping investor list for comeback venture Peter Weernink has assembled an all-star cast of shipping investors to secure his long-anticipated comeback in the dry cargo business. Weernink quits as SwissMarine chief executive SwissMarine sells fifth capesize as values hold steady John Fredriksen's Golden Ocean, Theodore Veniamis's Golden Union, the Martinos family's Thenamaris and John Michael Radziwill are all onboard. Former Glencore
IMO: France proposes mandatory slow-steaming France has proposed compulsory slow-steaming for ships to the IMO. The French delegation wants speed limits introduced as soon as possible, according to a proposal document for the IMO's greenhouse gas emissions working group seen by the Platts news agency. IMO 2020 could slow down boxships It suggests speeds would be differentiated by shipping sector. France has also suggested imposing indivi
Former Nordic American Tankers finance chief Turid Sorensen wins $2m pension dispute Nordic American Tankers and chief executive Herbjorn Hansson lost on all counts in a Norwegian legal battle against his former chief financial officer, Turid Sorensen. In the dispute waged in a local court in Sandefjord, Sorensen succeeded in her request for a bank guarantee for her NOK 17.6m ($2m) pension that Hansson had denied her, claiming her behaviour towards NAT was disloyal. Sorensen l
Harvey Gulf PSV gets a hybrid facelift US owner Harvey Gulf is upgrading the first US LNG-fuelled platform supply vessel (PSV) with a new hybrid energy storage kit. Fear on home front sees Harvey Gulf turn M&A sights overseas The retrofit by Finnish group Wartsila will increase the efficiency and environmental performance of the 5,400-dwt Harvey Energy (built 2015), Wartsila said. This will be the first hybrid retrofit on a US PSV.
Nord/LB confirms $2.9bn sale of "Big Ben" ship portfolio to Cerberus German lender Nord/LB has confirmed it has sold a huge ship-loan portfolio to Cerberus Capital Management. The 263-vessel book - known as "Big Ben" - is worth more than EUR 2.6bn ($2.9bn), it said. Nord/LB exits ship financing as it eyes $3.9bn capital injection 'Big Ben' transaction signals time for shipowners to strike and buy back loans Nord/LB, which last week decided to exit ship financin
New York-listed Ardmore tipped to sell ship which launched the company Ardmore Shipping is believed to have sold off the first ship it bought back in 2010 following its foundation. New York-listed Ardmore has sold the 45,744-dwt Ardmore Seafarer (built 2004), according to shipbroking sources. Gurnee maps out Ardmore Shipping game plan A price of $9.7m is being placed on the vessel, which Ardmore bought as the Zao Express for around $25m. While no specific buyer h
Drugs gangs infiltrate Panamanian port A report has claimed infiltration by drugs gangs at a Panamanian port is increasing the problem of cocaine being smuggled to Europe on cargoships and container vessels. The InSight Crime website cited a report by the La Prensa daily that said terminal staff can earn up to $10,000 per shipment they facilitate at Colon. US reveals boxship cocaine seizure The traffickers are local gangs - "cuadril
VLCC earnings barely cover opex due to Asia refinery maintenance Large newbuilding tonnage and traffic disruptions in the US Gulf also aggravate owners' troubles
Shehab assumes the helm at KOTC Newly installed CEO says Kuwaiti tanker giant is not interested in scrubbers.
Tankers must cool decks during Panama Canal transits Tankers have been issued with new deck-cooling orders by the Panama Canal Authority (ACP). The directive applies from this month and involves all crude, product and chemical tankers carrying cargoes with flashpoints of less then 18 degrees C. In a note to members, Bimco said the move was being made to ensure the safety of canal operations, as well as to reduce disruptions in transit scheduling.
Markets are priced for good news, says Pictet 'Green shoots' in China underpin guarded investor confidence, although investment quality remains paramount, writes Alexandre Tavazzi, head of CIO office and global strategist for Pictet Wealth Management
Independent shipbrokers unlikely to stop data flow for Baltic Exchange indices Focus remains on stopping brokers being cut out of deals and extracting value from market information
Shanghai Waigaoqiao Shipbuilding seeks shipowners for pair of VLCC slots China's Shanghai Waigaoqiao Shipbuilding (SWS) is marketing two VLCC newbuilding berths with early delivery at an "attractive price". Industry sources said the state-owned shipyard is seeking about $84m apiece for the 300,000-dwt crude tankers that would deliver in September 2020 and March 2021. Officials at SWS declined to comment on the berth slots. John Fredriksen's Frontline excited by upsi
Interlake orders first new Laker in 36 years A US owner has ordered the first new Great Lakes bulker since 1983. Italian-owned Fincantieri Bay Shipbuilding in Wisconsin will deliver the cargoship to Interlake Steamship of Ohio in the middle of 2022. The new river-class, self-unloading bulker is believed to be the first laker built in the Lakes area for 36 years. Industry coalition sues over Great Lakes pilot rates It will transport raw m
BSM boosts offshore division with ex-Toisa hires Bernhard Schulte Shipmanagement (BSM) has expanded its BSM Offshore business with new recruits from Greece's bankrupt Toisa group. Toisa OSV fleet sale complete as China Sunrise buys sextet Greek and US owners move for two more Toisa PSVs The company formed the unit last September to target the developing oil, gas and renewable energy markets. Now it has taken on a "core team of ex-employees"
RFI orders $54m ro-pax in Italy Italian railway network manager Rete Ferroviaria Italiana (RFI) has ordered a new ropax at the domestic T Mariotti yard. The shipbuilder said the 5,500-gt vessel will be delivered in June 2020 and is designed to carry rail carriages and wagons, as well as passengers and vehicles. It involves a total investment of €48m ($54m). The ship will be the owner's biggest. Rome-based RFI already has nine
Edgar Go to stand trial over fatal ferry sinking The owner of the former Sulpicio Lines is to stand trial in the Philippines over the sinking of the Princess of the Stars in 2008. The ferry went down off Sibuyan Island in a typhoon, killing more than 800 people. Edgar S Go will be tried for criminal negligence, according to a ruling in the supreme court. The Inquirer daily said the Manila regional trial court (RTC) branch 5 has been ordered t
NYK orders LNG carrier at Samho on back of Edison charter Japanese owner says dual-fuel newbuilding is due to be delivered from Korean yard in 2022.
Angelicoussis books another LNG carrier at DSME Contract represents first gas carrier order under Korean yard's new CEO Lee Sung-Keun.
Eastern Pacific fleet grows by nearly $700m in 12 months Idan Ofer-backed owner remains top dog in Singapore and looks to maintain position with $1.8bn worth of ships on order.
Grand Bahama Shipyard CEO: We will keep working Yard will be 'one dock down for some little while' following the Oasis of the Seas crane accident, chief executive David Skentelberry says.
Ways and Means chair outlines Dems' USMCA concerns Labor, environment and affordable health care among the priorities laid out by Massachusetts Congressman Richard Neal in a letter to to U.S. Trade Representative Robert Lighthizer.
Drewry: U.S. auto tariffs would hurt east-west trade Drewry's white paper predicts, if the tariffs are imposed, a rush of U.S. imports of finished vehicles and auto parts in 2019 before declines in 2020 and 2021.
U.S.-Peru environment consultations resolved The successful talks will re-establish Peru's forestry and wildlife supervision agency as an independent entity.
Univar shelling out $62.5 million for antidumping evasion
British bank pays $1.1 billion for sanctions violations
Singapore remains top maritime capital
Mandatory electronic information exchange in effect
FM Logistic breaks ground on Bac Ninh facility
'Threat of escalating tariffs' slows Long Beach activity
CN to invest $505 million in projects across four states
OPEC points to tighter market but wary of slowing growth The global oil market is set to tighten in the coming months as OPEC's output curbs along with dramatic, involuntary declines from sanctions-hit Venezuela, see supplies struggle to keep up with rising demand, the producer group's analysis arm said Wednesday.
Singapore's APEX to launch 380 CST HSFO futures contract on April 11 Singapore's Asia Pacific Exchange plans to launch futures contract of 380 CST high sulfur fuel oil with maximum 3.5% sulfur on Thursday, the exchange said Wednesday.
NWE RMK 500 CST bunker fuel weakens on inactive arbitrage east Sluggish movement of fuel oil east from Rotterdam has dampened RMK 500 CST bunker fuel prices, as availability of the higher viscosity fuel lingers in Northwest Europe.
Singapore retains top spot as leading maritime capital for fourth time Singapore has retained its spot as the top maritime capital for the fourth time in a row, according to Menon Economics' Leading Maritime Capitals of the World 2019 report released Wednesday at Singapore Maritime Week 2019.
Rotterdam-Singapore fuel oil arbitrage closed on Singapore oversupply The fuel oil arbitrage from Rotterdam to Singapore has closed in April, following high volumes shipped on the route in March.
FUTURES 5: RBOB notches six-month high amid steep inventory draw Front-month RBOB futures settled at a six-month high Wednesday following after US Energy Information Administration data showed US gasoline stocks moved sharply lower last week.
FUJAIRAH DATA: Oil products stocks rise 8% on week to record 25.088 mil barrels
FUTURES: Oil stable on tight supply; global economic growth weighs
Singapore's MPA releases compliant fuel suppliers list ahead of IMO 2020
France proposes mandatory slow steaming to cut shipping emissions France's delegation to the International Maritime Organization has proposed mandatory slow steaming as a means of cutting the shipping industry's greenhouse gas emissions.
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