Navy shipbuilding budget request includes large unmanned surface vessels The Navy's Fiscal Year 2020 budget request of $205.6 billion is an increase of $9.5 billion (4.6%) from the FY19 enacted budget, According to the Navy's Budget Highlights book, ship depot maintenance
VIDEO: All American Marine launches low wake, high speed ferry All American Marine, Inc. (AAM) has completed construction of the Reliance, the second of three low wake, high-speed passenger vessels for Kitsap Transit. The Reliance, an aluminum catamaran with a composite superstructure,
IKEA and CMA CGM in pioneering biofuel project Name brand shippers looking to lower the overall carbon footprint of their products are adding impetus to efforts to decarbonize shipping. One shipper leading the way along this path is IKEA Transport
Bulkship Management AS inks 30 ship BWMS fleet agreement with Alfa Laval Oslo based Bulkship Management AS has signed a fleet agreement with Alfa Laval covering the supply of 30 PureBallast 3 Compact Flex ballast water management systems over the next four years, along
BP Marine to roll out IMO 2020 compliant VLSFO BP Marine reports that it will begin to retail low sulfur fuel that meets new IMO regulations limiting the sulfur content of marine fuels. BP is introducing a new very low sulfur
BWMS: USCG takes another look at what's a "scheduled drydocking" The Coast Guard has reconsidered how it interprets the rules on extension of the compliance date for installation of a ballast water management system. Here's what it says in a posting on
Deltamarin to provide design services for hybrid newbuild Finnish shipbuilder Rauma Marine Constructions Oy (RMC) has awarded Deltamarin a contract to provide basic and detail design services for all hull and machinery spaces for the hybrid car passenger ferry the
ClassNK names Hiroaki Sakashita as Senior EVP Mr. Hiroaki Sakashita has been appointed as Senior Executive Vice President as well as Executive Director of ClassNK, overseeing the classification society's expansion of its business portfolio and digital transformation. Mr. Sakashita
Fire-stricken Grimaldi ship sinks Grande America sank on Tuesday, 140 miles southwest from Brest in waters 4,600 m deep. Cargo loaded on board the...
Ports told to 'get smart or miss out' Ports will increasingly find themselves under pressure to become smart hubs for supply chains or risk losing trade
Compared with airlines, shipping gets off lightly Payments to families of developing world seafarers who die in service are surprisingly small, often in the order of tens...
Capacity cuts help lift Asia-Europe load factors Headhaul load factors on the Asia-Europe trade improved circa 4% to 78% in the fourth quarter of 2018
Vale forced to halt Guaíba terminal operations The halt may add to negative sentiment in the dry bulk market, according to Arctic Securities
Vancouver signs up to advance LNG as fuel for ships VFPA joins up with Port of Rotterdam, Yokohama-Kawasaki International Port Corporation and the Maritime and Port Authority of Singapore
DNB defends folding ship lending into wider division Move is part of wider trend among European bankers, with HSH folding shipping in with real estate. ABN Amro has...
Torm expects 5% product tanker growth on IMO 2020 Product tanker earnings should see a boost from the second half of this year as demand growth of 5% is...
Newbuilds breathe life into conventional reefer shipping The conventional reefer fleet could fall to as low as 300 units by 2030, but reefers' strength on niche trades...
Global Ports Holding bullish after return to black The cruise port specialist is confident new business in Cuba will bear fruit in 2019
UK coastal shipping back on the agenda Shoreham Port on the south coast of England already handles some domestic shipping services but believes there is scope for...
Daily Briefing Marine gasoil demand to double on IMO rules | Blockchain faces hurdles before widespread adoption | Shipyard consolidation slowly removes...
Mermaid Maritime rig venture extends Middle East contract The AOD I rig has been working for the same client since it was launched in 2013
Top Ships falls out of Nasdaq price compliance Top Ships shares are too cheap for Nasdaq's liking. The Greek shipowner disclosed after trading Tuesday that it had received notice that it is out of compliance with the exchange's $1 minimum share price rule. Top Ships shares closed at $1 on 24 January and haven't peeked above that mark since. Tuesday, shares closed at $0.90. During that period, shares had closed as low as $0.78 on 8 February
Pasha Group boxships get Jones Act go-ahead The ships will carry cargo from mainland US to Hawaii.
Fire-stricken Grimaldi ro-ro sinks in the Bay of Biscay after Royal Navy rescues entire crew Fire spread aboard 56,642-gt Grande America (built 1997) from Sunday night to Monday morning, forcing crew to abandon ship in the Bay of Biscay.
Carnival to conduct further scrubber studies after releasing DNV GL analysis Arnold Donald-led cruise major looks to 'determine environmental impact on marine life', DNV GL study states.
Global Ports profit powers ahead The port operator's results have been buoyed by record passenger numbers and increased revenue
Analyst Giveans initiates coverage of new delivery In these uncertain times a bit of good news is always welcome, and Jefferies analyst Randy Giveans certainly provided it this week. The birth of his daughter, Finley Rita Giveans, was announced in style with an email parodying his day job. "And with a very nurturing and supportive parents-child relationship, coupled with lots of prayer, the upside potential for Finley is extraordinary!"
SAAM sees higher results Chilean ports, logistics and towage company benefits from 'new operating model', chief executive Macario Valdes says.
Shell restarts mothballed refinery for LSFO Oil major Shell has agreed a deal in the Netherlands to partially restart a mothballed refinery ahead of the IMO 2020 deadline. Reuters cited two trading sources as saying it will work with Dutch tank terminal firm HES International on bringing the HES Wilhelmshaven facility back on line after it was closed down in 2011. Shell unveils VLSFO availability from 2020 HES said it is in the process o
Jotun paints a brighter picture over IMO changes Scrubber and ballast water system retrofits are expected to boost demand for coatings
US and Canada are used to enforcing tough emissions mandate Both countries already operate a 0.1% limit on bunker sulphur content for ships along their coasts
Bahri 'agrees compensation' for tanker clash Saudi Arabian owner Bahri has agreed to compensate the Taiwanese navy after a collision involving its tanker and a frigate, a report has claimed. Bahri tanker in collision with naval ship Saudi-based Gulf Digital News said full damages will be paid following the incident in Keelung over the weekend involving the 45,000-dwt NCC Sama (built 2012) and the Ning Yang warship. A document has been sig
Franbo Lines eyes more acquisitions after signing for vintage handymax Taiwan-listed owner seals a preliminary deal to buy a 1996-built bulker for $4.8m.
Greek shipowners hope new tax deal will appease Brussels Industry gives ground over dividends to try to fend off European Commission
Instead of complaining, shipping should sort fuel facts from fiction Industry players reluctant to come to terms with the IMO 2020 limit on sulphur in bunkers need to prepare rather then try to stem the tide of change
Torm defends 2018 loss as it stocks shelf Danish owner Torm fell into the red last year, but said its performance had been strong compared to its peers. The Danish company posted a $33m loss before tax for the full year 2018, compared to profit of $3m a year previously. "Despite negative results, Torm's performance has been strong compared to industry peers," the company said in its financial report. Torm said its net asset value (NAV)
Financial markets have been lifted by hope, not certainty Equity markets have started 2019 with a bang reflecting that confidence in the global economy has returned, says Pictet's Alexandre Tavazzi.
Technolog to handle Hapag-Lloyd boxship conversion German engineering company Technolog has landed the contract for the first conversion of a large boxship to LNG. It said it has been commissioned to work on the 15,000-teu Sajir (built 2014). Technolog has already been involved in the pilot project by providing technical consulting services during the preliminary phase of the conversion. Hapag claims world first with big boxship LNG conversion
Millions of plastic pieces wash up from MSC Zoe Dutch scientists have estimated 24m pieces of plastic have washed up after boxes fell from MSC Zoe in a January storm. More boxes lost from MSC Zoe than first thought The highest amount has been found on the beaches of Schiermonnikoog island, the University of Gronigen said. Suction devices are expected to begin a clean-up this week, Dutch news agency ANP reported. MSC has said it will assume
SSY Futures scores London Metal Exchange first Shipbroker is first accepted for a new membership category for inter-dealer brokers working on new ferrous contracts.
Scrubber maker PGT appoints CFO US scrubber maker Pacific Green Trust (PGT) is bringing in Richard Oliver to the new role of CFO. He will join in May, taking the load off CEO Neil Carmichael, who has been carrying out financial duties. Oliver is head of finance at UK-based Munro Building Services. Carmichael said: "Having secured a large-scale commercial production partner and a nearly $180m orderbook for delivery of our stat
Senior broker slams attack on Baltic Exchange as fake news Chris Reilly sympathises with clients losing money, but talk of indices manipulation is "ridiculous."
Belgians and Dutch deploy analysers for fuel-sulphur tests Port-state-control (PSC) authorities in Belgium and the Netherlands have invested in new equipment to help refine their inspections on sulphur compliance. Eugeen Van Craeyvelt, director general of shipping at Belgium's Federal Public Service Mobility and Transport for shipping, says his department invested in three portable sulphur analysers costing €21,000 ($24,000) each last year. Regulators a
Seabird ship secures second survey A seismic survey vessel owned by Seabird Exploration has had its contract extended, which will see the vessel mobilised to Northern Europe. CGG has extended its charter of the 93-metre Eagle Explorer (built 2009) for a further 80 days, Seabird said in a filing to the Oslo Stock Exchange. During the extension period, the vessel will work as a source vessel for the France-based geophysical service
Standard charterparties may not cover 2020 PSC requirements Owners and charterers may both need bolt-on clauses to cover local port state rules, warns lawyer
CMA CGM to trial biofuel for boxships French liner giant CMA CGM is to test out biofuel for boxships. The company is teaming with IKEA Transport & Logistics Services, The GoodShipping Program and the Port of Rotterdam to trial the oil during a vessel bunkering on 19 March. The "landmark" project marks a major step towards the decarbonisation of ocean freight, the companies said, using second generation biofuel derived from forest re
Eurobank slashes provisions to $764m Greece's Eurobank has cut loan loss provisions by 9.3% in 2018 to EUR 680m ($764m). The major shipping lender said they accounted for 189 basis points (bp) of average net loans. Selling Nemo: Piraeus Bank "offloading $680m portfolio" The non-performing exposure (NPE) ratio decreased by 550 bp from 2017 to 37%. The NPE value was down by EUR 3.5bn in 2018. Looking ahead, the bank said the NPE r
Rates rally pushes International Seaways to profit A late rally in tanker rates helped International Seaways to end 2018 on a high note while besting analyst expectations. On the back of a $30m year over year bump in crude tanker revenues, the New York-traded shipowner posted $9.4m in adjusted profit for the last three months of the year, good for $0.32 per share - better than the $0.14 consensus estimate and excluding $2.5m for impairment charge
UECC goes for hybrid newbuildings Norway's UECC is investing in a new generation of pure car and truck carriers (PCTCs) with hybrid energy solutions. The vessels will use batteries and LNG to take the company beyond the IMO's target of 40% carbon reduction by 2030. The owner, controlled by NYK and Wallenius Lines, has signed a contract to construct two ships at Jiangnan Shipyard in China. UECC poaches Mork from Hoegh Autoliners
US reveals boxship cocaine seizure A seizure of cocaine from a box on an MSC vessel has been revealed by US authorities. A routine inspection of the 11,568-teu MSC Carlotta (built 2017) last month found a worn-looking container with doctored door pins, the New York Times reported. The vessel had arrived in Newark from Buenaventura, Colombia. The box should have contained dried fruit, but customs agents found 60 bundles of white
Bulkers collide in Panama Canal The Panama Canal Authority (ACP) has started an investigation after two bulkers collided on Monday. Video footage shows the two vessels scraping down each other's sides at the Pedro Miguel locks. La Prensa reported the ships as the 38,000-dwt SE Nicky (built 2018), operated by Sincere Industrial of Taiwan, and Laskaridis' 63,000-dwt Iolaos (built 2016). The incident did not affect the vessels'
Russian owner wins legal duel over AHTS whose class expired A Russian shipowner has won a UK legal victory in a charter dispute case arising from the lapsed class certification of an anchor-handler. Silverburn Shipping is entitled to take re-delivery of the 50-bp Arctic (built 2012) from Nikolay Sochin's Ark Shipping, high court judge Sue Carr ruled. Silverburn had appealed a 2018 tribunal award against it on the basis that it reached conclusions on two
China's demand for crude set to keep growing Imports will continue to increase despite weaker GDP growth forecasts, says Bernstein Energy.
Singapore bunker clerk faces time in Changi Prison Man said to have tried to bribe a marine surveyor to cover-up under supply of fuel.
Saudi Aramco extends charter of Seadrill-Mermaid jack-up Co-owned drilling unit will spend the next three years employed by Saudi oil giant.
Kumiai Senpaku plans to cut fleet by offloading its bulkers Japan's Kumiai Senpaku's fleet will increase to 19 ships on delivery of its latest and final newbuilding - an LPG carrier. The company is preparing to sell some of its stable of vessels. "This will be the last newbuilding to join KS [Kumiai Senpaku]," said company president Nobutaka Mukae, referring to the 38,000-cbm fully refrigerated gas carrier Hourai Maru. "We are planning to scale down our
Singapore and Hong Kong promise strict stance on sulphur cap Two leading Asian ports outline the reception ships can expect once IMO 2020 kicks in on 1 January
State support helps Asia to push ahead on LNG fuel infrastructure Government backing is providing a much-needed impetus as countries move towards adoption of cleaner marine fuels
Transportation unions call for infrastructure investment The executive committee of the AFL-CIO's Transportation Trades Department set an agenda Monday that also eyed rail safety and combating commercial driver fatigue.
USGC sweet/sour crude spread narrows to record level on supply concerns
Resurgent gasoline lifts European low-sulfur VGO demand
Med HSFO weakens on increased refinery runs, lackluster demand
IKEA partners with liner CMA CGM to test biofuel bunkers
Canada's AltaGas to ship first LPG cargo from Ridley Island in Apr-May: sources "This first cargo will be for Q2 [second quarter] delivery but it is still pending and we are checking for the firm schedule," said a company source.
External: Global Risk Management
Singapore high viscosity bunkers face uncertain future due to IMO 2020 "RMK is dying a natural death going into 2020," a Singapore bunker supplier said.
USGC middle distillate exports to Europe at 750,000 mt so far for March: cFlow "Some of the delays are getting almost as long at the delays on [Hurricane] Harvey [in 2017]," a trader said.
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