Class action lawsuit filed following Viking Sky incident Viking Cruises faces a class action lawsuit claiming punitive damages following the March 24 incident in which some 479 passengers were evacuated by helicopter from the cruise ship Viking Sky when it
BAE San Diego awarded $32.3 million Navy contract BAE Systems San Diego Ship Repair, San Diego, Calif., has been is awarded a $32,324,635 contract for the overhaul of the medium auxiliary repair floating dry dock (non-self-propelled) Arco (ARDM 5). This
Gibbs & Cox names Matt Garner Assistant VP Ship Design Naval architecture and marine engineering firm Gibbs & Cox, Inc., Arlington, Va., has appointed Matthew Garner as its Assistant Vice President, Ship Design. Garner joins Gibbs & Cox following a civil service
Damen and Wilson Sons convert PSV to DP2 dive support vessel Damen Shipyards and Brazil's Wilson Sons Estaleiros have completed the conversion of the, platform supply vessel Fulmar, owned and operated by Wilson Sons UltraTug Offshore, to a shallow dive support vessel (SDSV).
Thome ship one of four hit in UAE sabotage attacks More details are emerging about the sabotage attacks on four ships reported yesterday by the UAE Ministry of Foreign Affairs and International Cooperation (MOFAIC) (see earlier story). The initial statement said only
KVH sells Videotel business for $90 million Middletown, R.I., headquartered KVH Industries, Inc., (Nasdaq: KVHI), has sold its Videotel maritime training business to an affiliate of Oakley Capital for a base purchase price of $90 million, on a cash-free,
Wärtsilä to power China's first LNG fueled PSVs Twelve new LNG fueled platform supply vessels on order for China Oilfield Services Co Ltd (COSL) will be powered by Wärtsilä 20DF dual-fuel engines. The vessels, which will be the first LNG
Evac BWMS type approved to new, tougher IMO standard The Evac Evolution Ballast Water Management System (BWMS) has been granted IMO Type Approval, following testing to the latest IMO requirements which encompass the revised G8 standard and the recently introduced Ballast
Tanker 'sabotage' off UAE puts shipping on alert The incident has already heightened fears that shipping lanes in the Gulf could once again become a flashpoint as tensions...
Houston Ship Channel reopens after chemical spill Vessel traffic will be restricted to slow speeds through the Houston Ship Channel for up to a week as salvage...
Worldviews on shipping emissions collide at IMO Protesters and delegates from varying countries showcase a contrast in perspectives about GHG emissions on the first day of MEPC...
Navios Acquisition adds to VLCC newbuild tally Tanker owner posts modest first-quarter profit and confirms additional fleet renewal moves
China retaliates with new US tariffs The duties largely target the US agricultural industry, with US chicken, wheat, sugar and peanuts becoming more costly for buyers...
'Damn the whales, full speed ahead!' On May 15, California's Protecting Blue Whales and Blue Skies Partners will kick off their 2019 voluntary vessel speed reduction...
Grounded bulk carrier Solomon Trader refloated Kangava Bay is home to a Unesco World Heritage site and concerns were raised quickly over damage to the site...
Capital Product posts increased profit from containerships Better boxship rates for neo-panamaxes help the partnership's results in the wake of tanker spin-off
Shortsea draws short straw in low-sulphur contest SeaIntelligence Consulting chief executive Lars Jensen warns that the slowdown experienced in the Baltic following the introduction of the emission...
Low-sulphur quality concerns still unresolved Ship operators warned over mixing without clear understanding of content of low-sulphur fuels
Slowing boxships further 'has some cost benefits' Given that slow steaming is such a long-established feature of the industry, Drewry has said it is questionable how much...
Shippers call for bunker bill clarity Shippers are arguing that beyond following the law on sulphur emissions, carriers will need to be compliant with the entire...
The lost decade of ship recycling The EU, governments and shipowners under pressure to support the Hong Kong Convention as impatience grows
Kathleen Eisbrenner, LNG industry veteran and FSRU pioneer, dies at 58 Eisbrenner also worked for El Paso Corp and led Royal Dutch Shell's global LNG business
Braemar merges technical unit with Aqualis The deal, which is expected to be completed in June, excludes Braemar Engineering
Shell gives update on VLSFO trials 'The experience we gained from this trial and others, helps us be sure that the solutions Shell provides are what...
Connecting established players with tomorrow's talent Nor-Shipping 2019 will uniquely attempt to help the maritime industry simultaneously tackle both a major challenge of its own, together...
Anadarko agrees LNG sale and purchase deal LNG export project will initially begin operation with two trains of 12.9m tonnes per annum in combined capacity
Allianz Marine acquires Swissco fleet and assets Allianz Marine is linked to another merger with Pacific Radiance, in which the former is said to have pledged $180m...
Keppel lands Taiwan offshore windfarm project The S$150m contract would spell Keppel FELS' first breakthrough in Taiwan's blossoming offshore wind market
Daily Briefing Final decisions and new beginnings at MEPC 74 | Don't turn a blind eye to 2020 problems, IMO urged |...
Capital Product Partners to decide on bulker fate CEO says it will decide what to do with its lone bulker when its charter ends
Alafouzos family backing fresh $15m Okeanis Eco Tankers private placement Okeanis Eco Tankers is eyeing a $15m private placement with the backing of its main shareholder, the Alafouzos family. Alafouzos family hands Okeanis Eco Tankers options for fresh suezmaxes at Hyundai Heavy Industries Okeanis Eco Tankers sets out spot and dividend goals as market tipping point approaches Okeanis, which first floated in the Oslo capital markets system last summer, is working wit
Hafnia Tankers tipped for 'cracking deal' with Equinor for LR2 newbuilding brace Hafnia Tankers is set to captured an attractive time charter deal for two LR2 newbuildings from Norwegian major Equinor, brokers say. The charter for the two vessels nearing completion at Daehan Shipbuilding reflect a premium for scrubbers and the growing anticipation for a strong market when IMO 2020 kicks in. BW Group closes book on Hafnia Tankers takeover Trio of BW LR2s head for time charte
US-China trade tensions spell high risk for boxships Tariffs may be 'major demand destructors', Morgan Stanley analyst says.
Aegean Shipping strikes long charter deal with Trafigura Greek owner Aegean Shipping Management is locking one of its two aframax tankers into a profitable charter for up to four years. Sources said trader Trafigura has fixed the 112,000-dwt Green Attitude (built 2018) for two years with subsequent options for two periods of one year. Brokers said Trafigura has agreed to pay $25,000 per day. Managers at Piraeus-based Aegean did not respond to a reque
Lord Clarke: London to stay pre-eminent in arbitration A former justice of the UK Supreme Court has backed London to retain its pre-eminent position in global shipping arbitration. Lord Tony Clarke, now a commercial arbitrator, told delegates at the first London International Disputes Week: "I bet there's nowhere in the world that competes with it - well maybe one or two places dragging along behind." He called London a "brilliant place to come to."
Liberia is all in the family for the young Cohens Brothers fondly recall their father's influence but say he is no longer connected with day-to-day operations of LISCR
LISCR's new generation ready to roll with own team Cohen brothers do not exactly explain departure of long-time chief executive Scott Bergeron, but make it clear who is in charge of the Liberian Registry
Liberian registry takes aim on global flag-state leader Panama Cohen brothers and ex-Panama head Alfonso Castillero say it is just a matter of time before LISCR becomes the world's largest shipping registry
Brexit confusion hits UK demand for cruises Withdrawal from the EU creates 'uncertainty' for UK consumers, Royal Caribbean's Richard Fain says
Coral Shipping sells first vessel in nearly four years Greek owner Coral Shipping is selling its first vessel since late 2015. Brokers said the Greek shipowner has sold the 73,000-dwt tanker Glorious (built 1999) to an undisclosed buyer for in excess of $7m. VesselsValue estimates a tanker of the Onomichi Dockyard-built vessel's characteristics is only worth $5.7m, while Maritime Strategies International has a $5.6m to $6.8m estimate. The Gloriou
Post-merger Capital Product Partners looking to grow Capital Product Partners is back on the growth path after merging its tankers with Diamond S Shipping. . The Envagelos Marinakis-led shipowner posted a $7.2m in profit from its continuing operations for the first three months of 2019, as expenses fell by $6.5m to $15.4m thanks to the disposal of two ships last year. Merger finalises after Evangelos Marinakis finally gives into Diamond's advances
Drewry backs Maersk's wary stance on slow-steaming Drewry is backing Maersk Line in urging caution over new mandatory slow-steaming proposals at the IMO. The shipping consultancy said no container lines signed the letter from more than 110 shipowners supporting a French plan to impose speed restrictions on the world fleet. It said: "There does appear to be some marginal gains to be had from slowing ships even further, both in terms of fuel consu
Viking Cruises inks loan for Neptun Werft newbuildings Viking Cruises has secured a newbuilding loan from KfW IPEX-Bank. Viking Sky incident raises concerns over Solas failings The package for the vessels, to be constructed at Neptun Werft, has been provided alongside export credit insurance. Andreas Ufer, member of the management Board of KfW IPEX-Bank, said the financing helped to secure important jobs in the maritime industry in Germany. The
GasLog looks to tap $75m from existing US bond to fund newbuildings Peter Livanos' GasLog has turned to the capital markets as it looks to take the next step in the funding of its newbuilding programme. New York-listed GasLog is seeking to add $75m to its existing $250m bond which trades in the US. GasLog newbuilding secures long-term charter with Endesa but will trade spot in 2019 Livanos lashes out at 'abhorrent' use of capital markets GasLog is working with
Siem Offshore: term AHTS deals "non-existent" Siem Offshore has highlighted tough conditions for anchor-handlers while spying improvements for platform supply vessels (PSVs). The Norwegian OSV owner said large and modern PSVs had experienced an increase in demand for upcoming campaigns, with rates rising. Siem reactivates AHTS after winter stacking But the AHTS segment was still suffering low utilisation and low average day rates on a glob
Extinction Rebellion takes campaign to International Maritime Organization Extinction Rebellion, the radical environmental lobby group, took its campaign to the IMO headquarters in London this morning to urge shipping regulators to take quick action on climate change. The green group, known for its mass demonstrations that have caused traffic chaos in central London this spring, timed its demonstration to coincide with the start of high level environmental talks on redu
Rever Offshore ties up whole fleet on North Sea jobs UK OSV owner Rever Offshore has chartered out its fleet of four ships for North Sea projects. The company said deals had been signed since the start of April. Its three saturation dive support vessels and a heavy construction support ships were employed on various large subsea decommissioning contracts, and inspection and maintenance deals. CEO Barry Macleod said: "I am delighted to see our Rev
Navios Maritime Acquisition linked to VLCC demolition deal Greek shipowner Navios Maritime Acquisition has sold its oldest VLCC with the vessel exepected to be scrapped. Navios Maritime Holdings sells oldest capesize bulk carrier Navios VLCC orders linked to AISSOT work Imabari confirms four VLCC newbuildings for Navios New York-listed Navios Acquisition has been renewing its VLCC fleet at a time it is awaiting the delivery of four new ships under co
Bankruptcy proceedings start against Uljanik yard A Croatian court has opened bankruptcy proceedings against struggling Uljanik Shipyard. The commercial court in Pazin took the decision on Monday due to the continuing freeze on its bank accounts, the Hina news agency reported. Jan De Nul demands cash from Uljanik Shipyard The chairman of the shipyard's board, Sandi Bozac, said Uljanik's account had been frozen for 231 days. The country's fina
Hamburg Commercial Bank to target $1bn-worth of fresh ship-finance business Global shipping boss Jan-Philipp Rohr talks about being the last bank standing in German ship finance
Union Maritime linked to aframax tanker deal with Valles Steamship Union Maritime is tipped to have strengthened its aframax fleet with the purchase of a 14-year-old tanker from Valles Steamship. Union Maritime strikes again with aframax tanker purchase Speculation swirls around suezmax tanker resale swoop by John Fredriksen Valles Steamship exits dry cargo market with sale of last bulker to Modion Maritime Hong Kong and Vancouver based Valles has been ci
European Commission to add eight more demolition yards to approved list Yards in Norway, Denmark and Turkey will be added to European list of 'approved' ship recycling yards
US blocks two more tankers over Cuba trips The US has designated two more tankers as "blocked property" after they allegedly made trips from Venezuela to Cuba. The treasury department's Office of Foreign Assets Control (OFAC) said the two vessels transported oil to the Caribbean country. PB Tankers denies alleged Venezuela dealings, will fight Greek tanker caught up in Venezuela sanctions net It designated shipowner Monsoon Navigation
Stena Bulk inks one-year charter for Almi Tankers suezmax Stena Bulk of Gothenburg has strengthened its ties with Almi Tankers of Greece after concluding another period charter for a suezmax. Heavyweight owners swing behind slow-steaming Diamond S fixes scrubber-fitted suezmaxes at premium rates The 157,000-dwt Almi Galaxy (built 2012) has been fixed on a one-year charter with an option for six more months, Stena Bulk chief executive Erik Haanell conf
Shell details first very low sulphur fuel oil trials with shipowners Major tests out new 0.5% fuel offering on one of its own tankers in Singapore
COSL opts for LNG to power its PSV newbuildings CNOOC-owned offshore operator orders LNG dual-fuelled engines for its 12 offshore vessels building in China
Clarksons: boxship deliveries lowest for more than a decade Clarksons Research has revealed boxship deliveries will drop to their lowest level for more than 10 years in 2019. It said there will be a "significant" slow-down to 0.8m teu coming from yards this year, while the total for 2020 will be 1.1m teu. Recycling activity is projected to pick up during this period as well. It is predicting fleet capacity growth at 2.6% and 3.3% respectively in 2019 an
Fire-hit cargoship towed into French port A cargoship disabled by fire has been towed into port in France. The blaze on the 6,000-dwt Cathy Jo (built 2008) was controlled by crew on Sunday off Brest. Its engine room was disabled by the fire, Ouest-France reported. No injuries were reported. French authorities confirmed the blaze was extinguished. The vessel is listed as operated by Corrib Ship Management for Wagenborg. Corrib has b
Braemar Shipping Services strikes technical deal with Aqualis Braemar Shipping Services will become the major shareholder in offshore and renewable energy consultancy Aqualis following a deal which sees the London-listed group offload three of its four technical businesses. New Braemar Shipping Services chairman is 'best thing for the mix' Kidwell sights two key hurdles to clear path for investors Technical trouble draws profit warning from Braemar Shippi
Wartsila: crew may be to blame for tanker fire Finnish technology group Wartsila has denied its repairs were responsible for a fire in the engine room of a US tanker. The company is being sued for negligence and breach of contract and warranty over a blaze on the 21,600-dwt molten sulphur carrier Sulphur Enterprise (built 1994) near Galveston last May. Savage and underwriters sue Wartsila over tanker fire A suit filed at the southern distri
Two Saudi tankers among those attacked off Fujairah Energy minister says vessels suffered 'significant damage' to their superstructures.
Houston Ship Channel reopened following collision Incident involving K Line VLGC is the fifth in as many years prompting calls for better safety.
India's last pilgrim ship gets the chop SCI-managed passenger-cargo ship Akbar is heading to Alang for recycling after a career spanning 48 years.
UAE alleges 'sabotage' to four commercial ships Incident comes just hours after US warns of increased threat to its ships from Iran.
TCC scores Trafigura and BP VLCC time charters Hong Kong's Tai Chong Cheang (TCC) Group has secured time-charter deals for all three of its VLCCs with international charterers. Falling prices tempt TCC to ink VLCC orders Shipbrokers said Trafigura had fixed the 305,000-dwt KHK Vision (built 2007) for 18 months at $29,500 per day. Also in an off-market deal, BP appears to have taken TCC's 314,000-dwt KHK Empress and KHK Majesty (both bui
Keppel secures Orsted offshore wind farm contract Singapore yard group wins its second renewables sector deal in less than a week.
USTR to start tariff process for remaining goods from China If implemented, the tariffs will affect approximately $300 billion worth of goods from China in yearly import value.
Tariff hikes add 'insult to injury' for soybean farmers Soybean farmers along the Mississippi River have dealt with historic flooding this year.
Houston channel reopens after tanker, tug collision One-way ship and two-way barge traffic was restored Sunday in the wake of the collision that spilled about 9,000 barrels of gasoline blend stock into the waterway.
IMO looking at ways to further reduce shipping emissions Reducing greenhouse gases is a key agenda item as the Marine Environment Protection Committee meets this week in London.
OFAC raises Venezuelan oil transport enforcement The Treasury Department's Office of Foreign Assets Control on Friday sanctioned two more shipping companies and their tankers for transporting Venezuelan oil to Cuba.
Istanbul MGO supplies tight on shipping delays Marine gasoil supplies in the Istanbul bunker market are tight.
JXTG replaces Iran oil with Saudi's among others, ready to supply IMO compliant fuel by Oct Japan's largest refiner JXTG Nippon Oil & Energy is replacing Iranian oil with incremental supplies from Saudi Arabia among others.
Oil follows equities lower as China responds with tariff retaliation Crude futures turned bearish Monday, pulling off their intraday highs.
IMO chief urges shipping industry collaboration on emissions reduction
TRADER NOTE: BIMCO appoints Elena Tassioula as manager for Athens office Tassioula will start in June in her new role.
Dubai crude structure hits fresh high amid tighter sour crude complex "There is very good demand this month. You will see over OSP plus $1/b [for Murban and Das Blend] soon," one sour crude trader said.
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