Swedish Club guide cuts through the IMO 2020 chatter Time is running out for shipowners who have yet to decide on how to meet the January 1, 2020 IMO sulfur cap. Whether the decision is to install exhaust gas scrubbers or
Farsounder FLS selected for new OceanX research yacht Warwick, RI, headquartered Farsounder, Inc. reports that non-profit ocean exploration and media production company OceanX has selected flagship navigation product, the FarSounder-1000 Forward Looking Sonar (FLS) for its new 85.3 m research
DNV GL to class passenger sailing ship Spanish shipbuilder Metalships & Docks has awarded DNV GL a contract for the classification of a 138 m passenger sailing ship, Sea Cloud Spirit, ordered by Hamburg-based operator Sea Cloud Cruises. The
ABB solutions chosen for Iceland's first electric ferry A 70 m long hybrid electric ferry under construction for the Icelandic Road and Coastal Administration at Poland's Crist shipyard will feature a range of ABB integrated power and electric storage solutions.
Gulf Marine Repair to have new President The Board of Directors of Hendry Marine Industries, Inc, Tampa, FL, reports that John P. Gallagher has been appointed as President of Gulf Marine Repair, effective January 29, 2019. Mr. Gallagher, a
Low-sulphur fuel volume transparency is not possible, says ExxonMobil Bunker fuels and scrubber demand dominate conference discussions as scrubber lobby group Clean Shipping Alliance 2020 hits back over open-loop...
Greek shipowner rejects union's 'starving crew' claim The Greek owner of the vessel vehemently denies allegations and plans to take legal action against the ITF
Bremen shipyard fire could be largest hull loss ever, according to Gallagher Claims arising from contaminated fuel continue to raise questions of causation and liability, with the problem set to grow as...
Scrubbers will save Scorpio up to $125m annually At an assumed $200 to $250 fuel oil price spread, the company should be able to quickly recover the $1.5m...
Star Bulk says port scrubber bans have 'no impact' on its calculations Bulker owner says plans to fit scrubbers on about 110 vessels are primarily a 'hedging' move but admits concerns if...
Port of Antwerp hit by industrial action The port says 33 vessels are waiting to enter and leave the port as strike is expected to cost millions...
Lloyds list Container Sector Outlook 2019 webinar
UK's May defends Seaborne contract checks Theresa May tells MPs it was 'entirely right' the majority of contracts went to 'established' companies, but defends trying to...
The strange death of shipping England National resilience is not just military but civil, and Britain's inability to guarantee sufficient ro-ro capacity following departure from the...
Uncertainty grips charter market A slowdown in scrapping and an increase in newbuildings has reversed fortunes for shipowners
Intra-Asia trade slows as carriers vie for further growth Can demand in intra-Asia container trade support carriers' ambitious expansion plans in the market?
HMM outside 2M could destabilise container market HMM's strategic cooperation agreement with the 2M will end in April 2020, raising questions of how the carrier will fill...
Container shipping's cautious outlook Regulation, geopolitics and the ongoing issue of supply and demand will continue to dog container lines in the year ahead
Box ports braced for challenging 2019 Uncertainty clouds the outlook for container port throughput in the year ahead
London Gateway looks to exploit Brexit ferry fiasco With DP World London Gateway a relative fledgling UK port it is heavily underused, with scope to handle more than...
Shortsea operators lose share on intra-Asia trade Carrier consolidation and a reduced number of operators push balance in favour of larger lines
North European container ports face recession threat Seasonal fall in imports dents full-year figures at Europe's main box ports
Hanjin Heavy's shares suspended over Philippines unit costs The shipyard said its losses have increased due to the impact of its Philippines unit, which received approval for a...
Hutchison Port Holdings hurt by impairment losses Slower international trade and further structural changes to container shipping lines is making forecasting cargo volumes 'challenging', says Hutchison Port...
Daily Briefing NAO: UK's post-Brexit ferry provision lacks adequate capacity | Grayling contradicted on use of public funds for Ramsgate contract |...
Baltic Exchange rejigs Asia personnel New head of Asia named to replace veteran Chris Jones, who stands down this Friday
Port of Tanjung Pelepas upgrades administrative systems "Given the pace at which technological advancements are changing the world, it is imperative for PTP to remain competitive and...
Velesto Energy wins $38m contract extension from Hess Malaysia The latest extension, which has options for further extensions, is expected to help boost Velesto's fleet utilisation
US sanctions slash product tanker flows to Venezuela Suppliers hesitant to continue sales of petroleum products after 'action against 'country's oil sector
Major CSC Phoenix investor files for liquidation Chinese entrepreneur Chen Deshun's high-profile takeover of CSC Phoenix appears to be ending on a sour note. Chen's Tianjin Shunhang Shipping - which is CSC Phoenix's controlling shareholder - has applied for liquidation under a bankruptcy procedure, according to an exchange filing from Shenzhen-listed CSC Phoenix. It says Tianjin Shunhang is insolvent and could not repay its debts in full, with
Noble is selling a capesize amid a graveyard-like market Sellers still want yesterday's prices, but buyers are steering clear, brokers say.
Vanguard goes for more Seacor US-based investment advisor approaches 10% stake in New York-listed Seacor Holdings.
Cargo claim lands Schulte-controlled supramax under arrest in Singapore A cargo dispute has led to the seizure of a supramax bulker that trades in the fleet of the Schulte Group's Hanseatic Chartering. The 56,800-dwt Universal Bremen (built 2010) was arrested by officials of the Sheriff of Singapore's office late last Friday at the request of the Dubai branch of the National Bank of Fujairah (NBF). The vessel had just arrived in the South East Asian port from Mina S
Cambiaso Risso sold to Siaci Saint Honore in marine broking tie-up Consolidation drive moves forward with Italian and French marine insurance brokers entering 'a strategic partnership'
V.Group and Inchcape trade agency businesses The marine services giant has swapped its ship agency business for Inchcape's corporate travel agency.
Mercator selling last VLCC for $34m to clear debt Indian owner Mercator has confirmed it is selling its last VLCC to pay down debt. The company said it expects to repay INR 2.42bn ($34.16m) after disposing of the 299,000-dwt Nerissa (built 2006). It has already cut borrowings by INR 1.26bn in its third quarter to 31 December. It said the sale of the "high-value" tanker is expected this quarter, with all proceeds to be used for de-leveraging.
Korean shipyard mega-merger "unrealistic" The mega-merger between Hyundai Heavy Industries (HHI) and DSME is "unrealistic" due to competition concerns, according to a Korean analyst. Mega-merger of HHI and DSME confirmed as Samsung passes Moo-hyun Park of Hana Financial Group believes the $1.8bn deal is already "on the skids", despite it being confirmed this week after rival Samsung declined to bid for Korea Development Bank's holding i
Silversea founder Lefebvre takes over Abercrombie & Kent Silversea Cruises founder Manfredi Lefebvre d'Ovidio has agreed a takeover deal for cruise operator Abercrombie & Kent (A&K). The shipowner's private investment company Heritage Group has entered into a strategic partnership with Geoffrey Kent, A&K founder and chief executive, to buy 100% of the company. Heritage will own 85% and Kent 15%. Silversea teams with Royal Caribbean for new orders Ke
ABB wins deal for Iceland's first electric ferry Swiss technology company ABB is to supply power and storage solutions for Iceland's first all-electric ferry. The 550-passenger Herjolfur II was ordered in 2017 by the Icelandic Road and Coastal Administration (ICRA) at Crist in Poland and is due this year. The ship will make 3,600 annual trips in the rough waters between Landeyjahofn on the mainland and Westman Island, covering 13km in about 45
OSVs drive impairment charges to $741m at ABN Amro Dutch lender ABN Amro has partly blamed the offshore shipping sector for higher impairment charges in 2018. The bank said provisions totalled €655m ($741m) last year, against a reversal of €63m in 2017. Eagle Bulk eyes scrubber bill with $208m loan Gunvor closes second $1bn loan facility this month "Despite the continued favourable overall credit quality trend and the positive macro-economic e
Niriis disposes of last big ships as former Restis panamax sold Greece's Niriis Shipping has sold the last two large ships that have been part of its fleet since the company was founded about five years ago. The Athens-based outfit has secured a Chinese buyer for the 73,100-dwt bulker Navalis (built 1998) at a price of between $6.1m and $6.5m, according to reports by several brokers based in Greece and the US. This is one of two panamax sisterships that Niri
Solbakken sights investments following FPSO contract progress at Ocean Yield Ocean Yield has turned an eye back to growth after securing a potential charter for a previously troublesome FPSO. Oslo-listed Ocean Yield splashed over $600m to grow its portfolio last year and last night announced Aker Energy had signed an optional bareboat deal for the Dhirubhai-1. Ocean Yield shares respond after FPSO headache eases Ocean Yield finds work for unemployed FPSO Lars Solbakken
Scenic cruiseship delayed again at Uljanik Australia's Scenic Cruises has announced another delay in the delivery of its first cruiseship being built at the troubled Uljanik yard in Croatia. The company said the 17,100-gt Scenic Eclipse has been pushed back from April to 15 August, according to Luxury Travel Advisor. It had previously revealed a delay from a scheduled handover last month, while its original delivery date was 2018 after b
Vitol and Scorpio forge period charters in LR2 segment Scorpio Tankers, the world's largest owner of product tankers, is expanding its links with Vitol, reportedly providing two LR2s on period charters. The Geneva-headquartered trader has reached an agreement to take on the LR2s on six-month charters in an effort to take a longer position in the segment, a source with knowledge of the situation said. The arrangement builds on a 15-year relationship
Parent Advent supports V.Ships strategy because size matters Although new V.Ships Germany chief executive Nils Aden does not subscribe to the view that the shipping industry has an excessive amount of third-party managers, he sees "room for consolidation". "I firmly believe size is a strong argument going forward," he says. One reason is that investing in digital tools is beyond the financial scope of many companies. "Size is a big advantage in keeping
Shandong working on four-ship project for Bunge Shandong Shipping and Bunge are working on a newbuilding project for kamsarmaxes to be financed by ICBC Leasing
Elderly tanker pulled off Cypriot beach A 1952-built tanker has been refloated after being forced ashore in a storm off Cyprus last week. The 200-dwt Salim N1 (built 1952) grounded on a beach after being anchored off Famagusta since 2 December. The vessel was pulled free and taken to anchorage after four days aground, Deniz Haber reported. The operation by the TRNC ports department lasted 45 minutes. The tanker is listed as contro
Ocean Yield shares respond after FPSO headache eases Promise of Aker Energy contract for offshore unit trumps concerns around weak fourth quarter.
Schulte Group buys TecHullClean in Singapore Hamburg's Schulte Group has acquired a majority stake in TecHullClean (THC) of Singapore. THC is an underwater inspection, repair and maintenance (IRM) technology company. It also has offices in Spain, Gibraltar and Ghana. THC founder Paw Rene Jakobsen will be CEO following the transaction. Jakobsen said: "The team at THC is proud that the Schulte Group has become our partner and we look forwa
Dennis Uy pulls out of EMAS Offshore rescue It's the second time in 12 months that EMAS has seen an investor terminate a potential restructuring deal
Evalend: bulker crew were never starving in Australia Greek owner Evalend Shipping has denied there is any problem on one of its bulkers in Australia following ITF claims that its crew was starving. A seafarer on the 82,000-dwt Villa Deste (built 2018) allegedly contacted the union from BHP's Hay Point terminal in Mackay claiming they were being underpaid. BHP defends its decision to axe Aussie crew on cabotage trade BHP ends Australian iron-ore b
Robbers use hose to siphon fuel from bulker Robbers have used a hose to steal bunkers from a bulker in China. The IMB said the incident happened on 10 February at the Caofeidian anchorage. A duty officer from the unnamed ship noticed from the bridge wing that a hose had been connected from an open diesel tank manhole to a small un-lit barge alongside. The alarm was raised and a duty seafarer was instructed to investigate. The duty offic
Hanjin Heavy stock suspended as loss hits $1.2bn Korea's Hanjin Heavy Industries has had trading in its shares suspended due to "capital erosion." The group's Philippines yard HHIC-Phil filed for court rehabilitation in January and Hanjin said there had been a related impairment made in its accounts. It risks delisting in Seoul if it cannot improve its financial standing. The company has until 1 April to submit a plan to achieve this. Its ne
Euronav in $4m buyback since Rodgers exit emerged Euronav has extended a share buyback effort with a $4m plus investment in its own stock during the past couple of weeks. Frontline shares fire after DNB upgrades tanker peer group No shock for Euronav stock after Rodgers' surprise exit It adds to a similar spend a month ago when it took advantage of global market turbulence to buy its own stock. New York and Brussels-listed Euronav says the la
Maersk Line snaps up US brokerage Maersk Line has bought US customs brokerage and logistics player Vandegrift. The New Jersey operation will strengthen and broaden the company's service offering to customers, it said. "Vandegrift's expertise and reputation enables us to place a trusted advisor in front of our customers to design and build individualised customs brokerage and compliance programmes that identify risk and provide s
RHL: 198 containers a total loss on Yantian Express A total of 198 containers are likely to be declared a total loss on Hapag-Lloyd's fire-hit Yantian Express. The 7,150-teu boxship (built 2002) suffered a blaze on 3 January off Canada, forcing crew to evacuate. It has now berthed in Freeport, Bahamas, for inspections and cargo discharge. Japanese container line ONE, which has boxes on board, said "significant headway" had been made on safety, l
Tor Investment shows its hand as second largest investor in Pacific Drilling Hong Kong firm is behind Whitebox but ahead of Quantum Pacific in new shareholder list.
Nacks lands VLCC newbuilding orders from Iino and MOL Transactions continue an active period for big tanker newbuilding business.
Marsh's drive for dynamic data raises questions for JLT deal Shipping's largest broker is applying analytics to protection and indemnity, but will the move fit with its acquisition of JLT?
A good maritime strategy flies under radar amid Brexit chaos While the government focuses on a schism that the UK does not need, the transport minister comes up with a blueprint for a commercially connected future
Another Murmansk Shipping bulker to be auctioned Another Murmansk Shipping bulker is to be sold at auction to pay off debts. The Ideal website said the port of Motril in Spain will sell the 23,600-dwt Zapolyarye (built 2008) to settle port and supply bills, and pay the crew, which has remained on board. The vessel has been docked there since September. It has been valued at EUR 7m ($7.9m), with its salt cargo worth EUR 600,000. Arrested Murm
Hong Kong bulker grounds on reef in storm A Hong Kong bulker has been forced ashore in a storm off the Solomon Islands. Radion New Zealand cited shipping agenct Tony Saliga as saying the 74,000-dwt Solomon Trader (built 1994) was hit by strong winds to the south of the island group on 5 February. Officials reported that bad weather was hampering efforts to salvage the vessel. It is stuck in Kangava Bay off Rennell Island. The bulker h
Greek and US owners move for two more Toisa PSVs Offshore shipping companies are continuing to snap up OSVs from the fleet of bankrupt Greek group Toisa. Brokers said Greece's Maritech International has acquired the 4,200-dwt platform supply vessel (PSV) Toisa Crest (built 1999) for an undisclosed price. The ship is worth $0.71m, according to VesselsValue (VV). Eastern Navigation snaps up bargain Toisa quartet A1 Offshore linked to Toisa PSV
Norwegian cruise ship sinks pier in San Juan Ship's crew left with red faces after vessel demolishes two sections during arrival in Puerto Rico.
Maltese court says mortgage overrides Jamaican auction Judgement says judicial sale failed to acknowledge effects of registered mortgage on vessel.
Ezion Holdings shares downgraded by DBS Singapore's largest bank concerned about lack of pace in recovery of offshore vessel operator.
Portman says White House gave input on Trade Security Act The Ohio Republican's bill would realign Section 232 investigative authorities with the Defense Department and allow Congress to strike down any ordered Section 232 duties through a resolution of disapproval.
Maersk lays out global customs brokerage ambitions Customs house brokerage is a "sticky" service, and that's what makes it attractive.
Redwood Logistics driving to double in size Backed by CI Capital, the Chicago-based company already has made two acquisitions this year.
Commentary: Stop flying backward on U.S. air imports U.S. freight forwarders are frustrated by the lack of details from the airlines about their arrived imports, let alone the payment terms and conditions.
Keeping unwanted invaders out of Valentine's flowers
FTZ Board seeing more tariff-related applications
Halterm orders super post-Panamax crane
Executive Moves: L.A., CALSTART, Corcentric, TT Club
IMO 2020 set to boost refinery margins: Wood Mackenzie Tougher sulfur limits on marine fuel from January 2020 have been prompting large investments in the refining sector
Storage operator Vopak reducing HSFO exposure ahead of IMO 2020 "We are improving our infrastructure and reducing our exposure to HSFO," Vopak CEO CEO Eelco Hoekstra said.
US still weighing Russian sanctions that could cut off oil flows The US is still deciding which sanctions to impose on Russia
Venezuela's Guaido appoints Luisa Palacios as his president of Citgo Self-declared Venezuelan interim president Juan Guaido appointed Luisa Palacios as president of state PDVSA's US refining and marketing arm, Citgo.
Rotterdam bunker fuel nears three-month high on rising HSFO exports Bunker fuel prices at the regional bunkering hub of Rotterdam reached their highest in nearly three months
European fuel oil crack reaches record high on tight supply, demand east The front-month March 3.5% FOB Rotterdam barge crack reached an all-time high Tuesday
External: Marine Bunkering(Rotterdam)B.V.
External: Global Risk Management
FUTURES: Oil remains supported on OPEC cuts, trade optimism "After rebounding from their December decline, Brent prices have stabilized over the past month near $62/b ... We continue to forecast further upside," Goldman Sachs said.
INTERVIEW: EU MRV data could aid IMO 2020 rule compliance: Verifavia CEO "Shipowners need to become pragmatic, efficient and compliant at a reasonable cost to them," Dufour said.
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