Metal Shark opens Croatian engineering facility Jeanerette, La., headquartered shipbuilder Metal Shark has established a foothold across the Atlantic with the opening of a dedicated European engineering office. Metal Shark's first location outside of the United States -Metal
No-sludge shipboard sewage treatment? Not scientifically possible, says paper Some type approved marine sewage treatments are at sea that are scientifically incapable of treating sewage waste. That's the charge made by a group of leading wastewater treatment system manufacturers and environmental
Trump Administration seeks to slash USACE Civil Works budget The Waterways Council, Inc. (WCI) has reacted to the Trump Administration's $4.827 billion FY20 budget request for the U.S. Army Corps of Engineers' Civil Works program, a 31% cut from the FY19
SECNAV names Navy's new T-ATS class Navajo Secretary of the Navy Richard V. Spencer said yesterday that the new class of Navy Towing, Salvage, and Rescue vessels on order at Gulf Island Shipyards will be named Navajo. in honor
Grimaldi Group ConRo sinks in Bay of Biscay 56,642 gt Grimaldi Group ConRo that reported a cargo fire on the evening of March 10 sank yesterday. The 1997-built, Italian flag Grande America was in the Bay of Biscay, about 142
Maran firms up fourth suezmax at Daehan The first pair was originally placed with Daehan by Norwegian company Faerder Tankers before being purchased by the Angelicoussis Group.
IMO confronts fraudulent vessel registrations The organisation wants governments to provide official information on national registries through embassies in the UK
OOIL executive says 'no decision' on newbuild orders Meanwhile, a lot of progress has been made on the disposal of the Long Beach Container Terminal, Fitzgerald tells Lloyd's...
UK to cut most tariffs to zero under no-deal Brexit Westminster says its 'temporary tariff regime' in the event of a no-deal Brexit is designed to minimise costs to business...
Daily Briefing CMA CGM to trial biofuels for containerships | Compared with airlines, shipping gets off lightly | Newbuilds breathe life into...
Torm looking to sell older tankers, chief says If the company succeeds in selling more vessels, it may look to add tankers built in the last 10 years...
Schedule reliability plagues shippers and carriers Clearer insight into shipper demand could benefit on-time deliveries, but major challenges remain
Koch Industries fixes another Chinese VLCC despite row Koch Industries of the US has 'concluded the charter of another Chinese-controlled VLCC, despite trade tensions between the 'countries. European shipbroking sources said the US conglomerate has fixed the 309,000-dwt New Mel'ody (built 2019) from shipowner China VLCC for a year at $30,000 per day, making the deal worth nearly $11m in gross charter 'revenue. Koch did not respond to a 'request for c
Sinokor Merchant Marine linked to mystery LNG carrier quartet at Samsung Heavy South Korean owner taking a low-profile approach in second attempt to break into the LNG newbuilding space
Eddie Steamship and Shandong Shipping forge capesize venture Lengthy negotiations result in creation of bulker tie-up to specialise in iron-ore trades
Brazil soybean exports hit record amid harvest rush Export surge helping keep some stability in Atlantic panamax rates, but it's not likely to last.
Rem Offshore inks five contracts Norwegian offshore player Rem Offshore has hammered out charters for five ships. The company announced the contracts on Wednesday - totalling NOK 200m ($23.3m) - for the 3,838-dwt Rem Mira, 5,478-dwt Rem Cetus, 4,300-dwt Rem Insula (all built 2013) and two ships to be named Rem Trader and Rem Inspector. "The value of these contracts significantly contribute to the earnings visibility of Rem Offs
Brookfield buys major stake in shipping investor Oaktree Brookfield Asset Management has bought a majority stake in major shipping investor Oaktree Capital Management. The $4.7bn deal was announced today and will see Brookfield take a 62% position in Los Angeles-based Oaktree, creating a $475bn asset manager. Oaktree Capital, Goldentree Asset up stakes in Eagle Bulk Brookfield adds two new faces to Teekay Offshore board "As we continue to strategica
Navios moves to throw out shareholder lawsuit Bulker owner argues the plaintiff's first lawsuit didn't hold up and this one doesn't either
Shipowner David Wu says new orders in store for Saga LNG The owner of a freshly launched LNG carrier touts its new design as reviving the mid-size LNG sector
Artful 'repo man' Fairhurst weighs anchor and heads into retirement Celebration hears stories behind Fairwind founder's decades of seizing vessels
BTIG tips Peter Livanos company GasLog for second bumper dividend Peter Livanos company GasLog is being tipped for a bumper dividend later this year as the LNG market springs back from a short drop. GasLog: South Korean yard mega-merger will drive up LNG newbuilding prices GasLog talks up record fourth quarter results BTIG analyst Greg Lewis says LNG spot rates have slumped in a seasonally weak period but are expected to bottom out in the coming weeks before
Underwriters face over $50m in Grande America claims after Grimaldi ship sinks Sinking likely caused by accumulation of fire extinguishing water on the deck
Shell sells North Sea FPSO for demolition Three FPSOs have been scrapped during 2019 and more will likely follow before the year is out
Top Ships takes in final product tanker newbuilding and first with a scrubber Greek shipowner Top Ships has taken in the last vessel in its product tanker newbuilding programme. Top Ships closes Chinese lease financing for tanker brace Trafigura ties up two new Central Group tankers on long-term time charter Evangelos Pistiolis-led Top Ships today took delivery of the 50,000-dwt Eco Marina Del Ray from Hyundai Mipo Dockyard in South Korea. The vessel is the first scrubb
Anthony Veder takes Chinese LNG newbuilding on charter Anthony Veder is poised to take a Chinese-built LNG newbuilding on charter as the company grows its LNG shipping interests. Broking sources say the Dutch shipowner will charter in the 30,000-cbm Xinle 30, which has been completed at Ningbo Xinle Shipbuilding, for two years at an undisclosed rate. Ningbo Xinle seeks buyer for Chinese-owned LNG newbuild The owner is believed to have specific empl
Iran working on order for 10 VLCCs Iranian officials have revealed the country is working on an order for 10 VLCCs to help keep its crude flowing following the reintroduction of US sanctions. Sources in the country told Reuters that it was in talks in South Korea over a deal, but admitted progress had been delayed by the sanctions. There's nothing for shipping to applaud in US reversal on Iran Cambis' Iran Odyssey ends after hel
Howe Robinson auctions arrested PSV UK broker Howe Robinson Partners is auctioning a platform supply vessel arrested in Gibraltar. The Norwegian-built, 4,000-dwt Olympus (built 2014) is owned by India's Global Offshore Services. Gibraltar Admiralty arrest papers seen by TradeWinds state the ship was arrested on 18 January. Remontowa selling cancelled MPP duo Howe Robinson, the exclusive broker for the Admiralty Marshal of the Su
IEA: high-sulphur fuel oil demand to plunge 60% The International Energy Agency has forecast a 60% drop in high-sulphur fuel oil (HSFO) demand next year. But it said that following the IMO 2020 low-sulphur fuel oil (LSFO) rules entering into force on 1 January, marine gasoil will see demand more than double. The IEA said that supplies of LSFO will initially be limited, so shipowners will likely go for more expensive gasoil. Shell restarts mo
Signs point to bounceback for dry bulk market after months of pain It is easy to see why John Fredriksen called capesize sector 'bombed out', but the worst may be over
Saade steers CMA CGM in new direction with CEVA purchase Company boss says other strategies are needed as consolidation has come to a halt
Torm on track for best quarterly profit in three years Torm is set to clock up its best quarter in three years in the opening three months of 2019 in what promises to be a stronger year for the product tanker market. Copenhagen and US-listed Torm broke even in the fourth quarter to finish 2018 with a pre-tax loss of $33m; but its first quarter bookings suggest a return to the black in imminent. Torm defends 2018 loss as it stocks shelf Torm sells t
Standard Chartered appoints Pandey head of shipping UK-headquartered lender Standard Chartered has said it has promoted Abhishek Pandey to head of shipping finance. The Indian national was previously managing director for ASEAN, South Asia and Africa and the Middle East, focusing on shipping and offshore asset financing. Former global shipping chief Nigel Anton, based in Hong Kong, is taking on the role of managing director for structured finance
International Seaways' eyes open to tanker and LNG growth says Lois Zabrocky International Seaways is eyeing up time charter opportunities in both the crude and product tanker market alongside potential expansion of its LNG fleet. New York-listed Seaways spent $600m in renewing its tanker fleet in 2018 and is confident of a recovery backed by supportive supply and demand dynamics. Tanker rate rally pushes International Seaways to profit Shipping trots out its own 'disru
Estonia accuses Russian merchant ships of spying Estonia has accused the Russian government of using its merchant fleet for intelligence operations. The BNS agency cited the Estonian Foreign Intelligence Service as saying civilian ships are an extension of state authorities. It claimed Russian vessels are attempting to enter naval training areas in other countries, or other areas closed to ship traffic. Attempts to enter foreign territorial w
Golden-Agri Stena tanker purchase talk has no teeth Golden-Agri Stena is dismissing reports of a double tanker purchase. Shipbrokers had connected the company with the acquisition of a pair of ships from Tokyo Mitsubishi UFJ Bank. Weco partners Golden Agri on palm-oil project A price of $25m en block had been suggested for the 20,000-dwt White Shark (built 2007) and Crimson Shark (built 2008). Erik Haanell, chief executive of Golden-Agri Stena
Brenntag chief executive joins V.Group board Steve Holland has joined V.Group as its newest non-executive director. Holland is currently the chief executive of Brenntag, the Germany-headquartered chemical producer and distributor. "I am honoured to be joining V.Group at such an exciting time when the industry is undergoing monumental changes, such as the 2020 sulphur cap regulation," Holland said in a statement. Long-standing IPO candidat
Vintage Onassis VLCC sold at 'phenomenal' price A 23-year old VLCC in the fleet of Onassis company Olympic Shipping and Management has been sold for further trading at more than $20m. The figure is about $3m above its price in the demolition market and reflects a rising tide for crude tanker asset values. Nigerian buyers have acquired the 302,800-dwt Olympic Legacy (built 1996), Athens-based brokers say. Olympic Shipping VLCCs fixed to Ais
Southern Phoenix to rise from the waves A sunken general cargoship is being raised in Fiji - only to be scuttled later. The Fiji Sun reported that the island's maritime safety authority has partially refloated the 4,300-dwt Southern Phoenix (built 1986) off Suva. But more work needs to be done before any further movement is carried out. A salvage company is to shift the vessel to a holding area eventually, before it is towed to its s
Bourbon sells duo to expanding Glomar Expanding Dutch owner Glomar Offshore has snapped up two OSVs from French giant Bourbon. Glomar said it had acquired the 1,200-dwt platform supply vessel (PSV) Bourbon Amilcar (built 2009) and the 60-loa multifunctional support vessel (MSV) Bourbon Arethuse (built 2008) for an undisclosed price. Bourbon revenue down 20% with OSV recovery slow The Indian-built ships are valued at $1.45m and $0.7
Teekay Offshore veteran director Peacock signs off John Peacock is quitting Teekay Offshore Partners after well over a decade in the board room. Peacock is retiring as a director and chair of the audit committee having been an ever-present since the company went public 13 years ago. Bill Utt, chairman of the MLP, said Peacock had made significant contributions during his tenure. William Transier, an independent advisor who co-founded Endeavour
Wartsila building bioLNG plant in Norway Finland's Wartsila has won clearance to build a liquid biogas (bioLNG) plant in Asker, Norway. The contract was awarded in April last year by VEAS, a wastewater treatment and biogas producer. The new facility will comprise a biogas upgrading and liquefaction plant. Total output will be 20 tons of fuel per day. This is Wartsila's third bioLNG plant in Norway, and its fifth globally. "Efficienc
Freight derivative volumes soar 44%, says FIS Owners hit on earnings front but volatility in dry bulk market bolsters FFA market
Scorpio Bulkers on the attack with vessel sale proceeds Cash raised from the disposal of two modern kamsarmaxes could fuel more share purchases, but of which Scorpio company?
Small coated tankers poised to emerge from the doldrums An improving supply-demand balance is expected to lift earnings, but Brexit, trade tensions and IMO 2020 could derail a sustainable recovery
Polaris Shipping sells supramax pair to Seacon Polaris sells Taizhou Sanfu-built ships as charter contracts end and company shifts focus to large bulkers
MSC and CMA CGM strike vessel-sharing deal MSC is upgrading its Australia to Europe service through a vessel-sharing agreement with CMA CGM. The deal starts in September and will see the companies operating a joint service via the Indian Ocean. It will use 14 vessels of 9,500 teu each. Of these, nine are being provided by MSC. Port rotation is London Gateway - Rotterdam - Hamburg - Antwerp - Le Havre - Fos-sur-mer - La Spezia - Genoa -
Filipino crew send home record $6.14bn Filipino seafarers have sent home a record amount of money from their wages. The Manila Standard reported that $6.14bn flowed back to families through the banking system last year. This was up 4% from 2017. The amount does not include cash paid outside the banking system or physically brought home by seafarers. The top source of transfers is from those working in the US at $2.31bn, followed by
Fujian Guohang inks ferry order China's Fujian Guohang Group has added a ferry to its orderbook. The company's Fujian Strait Ferry unit has contracted the 1,000-passenger car catamaran at the domestic Afai Southern yard, brokers said. The ship is due in 2021, but no price was given.
NYK aims to take guess work and risk out of vessel berthing Following successful trials, liner giant will gradually introduce system to managed ships.
Five crew reportedly kidnapped from OSV off Nigeria More seafarers taken hostage as Gulf of Guinea continues to see spate of piracy incidents.
China's Canadian canola ban to have limited impact on bulkers Volumes involved said to be minor compared to those affected by US soybean import ban.
Idle drilling rigs present quandary for scrap market Laid-up offshore rigs are ripe for recycling but they are not proving popular with cash buyers or shiprecyclers
Ownership change puts OOCL on China's Belt and Road map Foreign owners in majority in Shanghai last week as OOCL preaches the upside of being Chinese owned
Trio of bidders shortlisted to progress Benin FSRU Benin has pre-qualified two energy majors and a trading house to submit offers on the West African nation's project to install a floating storage and regasification unit for the country. Consultants following the process indicate that majors Total and Shell have been pursuing the project, with the pair both looking at the FSRU Neptune (built 2016) as a potential contender, along with trader Gunvo
Lighthizer says trade talks won't drive U.S. firms to China U.S. Trade Representative Robert Lighthizer testified before the Senate Finance Committee Tuesday during a hearing on World Trade Organization reform.
Grande America had 45 boxes carrying hazardous materials France's Maritime Prefect of the Atlantic reportedly said Wednesday the sunken Grimaldi Group-owned ConRo ship was carrying 365 containers and more than 2,000 vehicles.
S Korean refiners' domestic market share may shift post IMO 2020
Fuel oil delays at Russian ports end as weather improves
Tighter Panama Canal draft restrictions could hit Aframaxes, LR2 transit
SINGAPORE DATA: Feb bunker fuel sales fall 9% on year to 3.78 mil mt
External: Global Risk Management
Hapag-Lloyd Cruises to use marine gasoil on expedition ships as environmental rules loom Hapag-Lloyd Cruises already uses MGO voluntarily in other sensitive regions, such as the Arctic or Kamchatka.
FUTURES: Crude trades higher on surprise drop in US stocks data Crude oil prices also pushed higher as the market remained optimistic that Saudi Arabia will continue to cut production.
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