ONE sets new containership stowage record: 19,100 TEU Ocean Network Express (ONE) has set a new record for the largest amount of cargo ever stowed on a containership, carrying over 19,100 TEU of containers on the MOL Tribute. That beat
Incat Crowther cat is designed to deal with Danube debris Designer Incat Crowther has released some more details on the 39 m low wash, high-speed catamaran ferry recently delivered by Britain's Wight Shipyard to Danube River operator Twin City Liner (see earlier
Cameron LNG gets nearer to loading first export cargo USCG Marine Safety Unit Lake Charles personnel conducted a facility safety inspection at the Cameron Liquefied Natural Gas (LNG) facility in Hackberry, LA, Tuesday, in preparation for the facility to load its
Maersk seals U.S. East Coast low sulfur fuel deal An idled New Jersey asphalt facility is being repurposed as part of Maersk's IMO 2020 sulfur cap strategy. A.P. Moller - Maersk and PBF Logistics LP (PBFX) have reached an agreement for
P&O Reyser harbor tug will be first in Med meeting IMO Tier III An Asymmetric Tractor Tug (ATT) ordered by P&O Reyser will be the first harbor tug operating in the Mediterranean area to comply with IMO Tier III, MARPOL Annex VI when it enters
New pilot boat goes arrives in Valdez The Southwest Alaska Pilots Association's newest pilot boat, Emerald Island, is now at work. Built by Somerset, Mass-based Gladding-Hearn Shipbuilding, the Emerald Island arrived by ship in Victoria, BC on December 22
'Cool Company' launch stalled due to LNG spot market slump But plans to create a combined fleet of 16 LNG carriers from the fleets of Golar LNG, Awilco LNG and...
South Korean shipbuilding tie-up could consolidate LNG orderbook Meanwhile, a combined Samsung will remain a major competitor in the liquefied natural gas newbuild segment
Sub-capesize market to rebound after January slump MSI predicts weak freight rates will see scrapping surge, but the forecast upturn in sub-capesize earnings in Q2 and Q3...
Ports welcome European Maritime Single Window agreement Shipowner and port lobbies support EU agreement on harmonised reporting roles for the bloc's ports
Spot market earnings lift GasLog to record quarter LNG spot charter rates have fallen since the last quarter but the Monaco-based owner expects that the market will tighten...
Australia says bulker running out of supplies AMSA says the Villa Deste has ordered more food but noted it would inspect the ship next week
NYK to integrate research units Japanese shipping giant is to integrate the management resources of each company to increase efficiencies and create value
Maersk secures low-sulphur fuel deal in US US supply deal will provide 10% of Maersk's low-sulphur fuel requirement as world's largest boxship operator secures refining capacity
Viewpoint: A flag for your convenience Cost - above all - is what is driving how companies are making the decision upon which they pick a flag authority...
Daily Briefing Box ports braced for challenging 2019 | Container shipping's cautious outlook | The strange death of shipping England | Uncertainty...
Epic Gas upbeat about market prospects Epic Gas notes there are only five newbuilding vessels scheduled to be delivered in 2019 and five more in 2020...
Japan offshore wind set for fast-track expansion WoodMac projects Japan's offshore wind capacity will expand 62-fold to four gigawatts in 2028
Udenna drops lifeline for Emas Filipino conglomerate decided not to proceed with a $73.3m transaction that anchored Emas' restructuring proposal
Cargill sees more capesize scrapping in 2019 The sudden downturn has caught the trader unawares
Back to future as headwinds take their toll on shipping This was supposed to be a year of slow but steady improvement for shipping markets, so where has it all gone wrong and can markets get back on track?
Cosco Bulk splashes $880m on newcastlemax orders in China Dry bulk giant places orders for 16 firm ships at five yards, with options for up to 30 vessels in total
Scrubber users reject EC's call for urgent change to IMO rules Scientific evidence on exhaust gas systems is being 'ignored', says Clean Shipping Alliance 2020 spokesman Hamish Norton
Bugbee bats away scrubber ban fears for Scorpio Tankers While president does not think kit will be outlawed he suggests company would be better off.
Chevron extends Dof PSV timecharter The Norwegian operator of offshore support vessels has won another long-term contract
Capital World takes Norwegian stake to over $1bn US-based investment manager owns almost 10% of Frank del Rio-led cruise major.
Maersk seals US LSFO production deal for its ships Danish boxship giant AP Moller-Maersk has signed a deal to produce low-sulphur fuel oil (LSFO) in the US. The agreement will see Maersk source crude for PBF Logistics (PBFX) to process at its CPI Operations terminal facility in New Jersey. The deal enables Maersk Oil Trading to supply IMO 2020-compliant 0.5% marine fuel to customers on the US east coast. Maersk takes fuel storage space in Sin
Renegade Swish makes Tidewater swoop A Texas investment firm and two related parties have taken a collective 5.9% stake in Tidewater. According to Securities and Exchange Commission filings made Thursday, Renegade Swish owns 2.1 million shares in the offshore player. Wells Fargo buying up Tidewater shares The firm's two affiliated parties, Captain Q and Q Global Management own 360,946 and 1.7 million shares, respectively. Accordi
SBM Offshore adds to firepower as profit piles up "The market is growing; a new cycle is coming up," chief executive Bruno Chabas said
Zhenhua buys into Cosco in strategic tie-up Port equipment manufacturer wants to expand business with Cosco's global network.
Dry bulk investment debate poses $2bn question Two chiefs of public companies clash over the importance of scale in breaking the sector's cycle of diminishing investment
Congestion at Turkish straits reaches record levels Stricter passage rules for LPG carriers, adverse weather and increasing vessel sizes are causing the worst queues in 16 years at the Dardanelles and Bosphorus
Hornbeck loss grows with 40 OSVs laid-up US owner Hornbeck Offshore Services (HOS) has racked up a bigger loss in the fourth quarter as rates stayed soft. The net deficit to 31 December was $24.2m, against a profit of $93.8m in 2017, when it was boosted by a $125.2m tax benefit related to US tax reform legislation. Revenue was $53.9m, down $2.3m year-on-year. Hornbeck notes-for-loans scheme falls short of its target Hornbeck aims to
Scorpio Tankers raises hope of imminent return to profit Scorpio Tankers has booked a smaller than forecast loss for the fourth quarter of 2018 and raised expectations it will soon snap a losing streak. Scorpio Tankers scrubber savings could hit $125m Banker tells why new M&A deals could get 'scrubbed' New York-listed Scorpio revealed the results alongside plans to redeem notes due to mature this summer. It also voiced confidence in securing financ
Credit Suisse shuts legacy loans unit after $1.3bn loss Swiss lender Credit Suisse has finally shut down its legacy loans unit after booking a $1.3bn loss from the division last year. It said the Strategic Resolution Unit (SRU) was successfully closed, "outperforming end-state targets." Credit Suisse invests $11.2m in Danaos The SRU was shut down on schedule at the end of the year. Its loss was down from $3bn in 2017. The residual SRU portfolio ha
Lurssen fire has 'galvanised' London's hull market Broker suggests $700m claim has made Lloyd's of London market even more determined to raise premiums
Venezuela crude tanker charters win big rewards Crude tanker owners that are willing to trade despite US sanctions are taking hefty profits, brokers report
MSC approaches Chinese yards for neo-panamax newbuildings Enquiries come as Jinhai yard's cash crisis may have impacted construction of newbuildings chartered by liner giant
Mercuria Energy chief touts consolidation as traders struggle for capital Trading giants may look to consolidation at a time they are finding it increasingly difficult to find fresh capital, Mercuria Energy co-founder Marco Dunand says. His comments came in an interview with Bloomberg which highlighted how the changing face of the industry had made it more difficult to attract outside investors. ExxonMobil locks in VLCC on seven-year time charter Gotland ice-class
NYK merging three technical research companies Japanese shipowning giant NYK is to merge three of its research and technical subsidiaries. Japan Marine Science, Yusen Navtec and NYK Engineering will be combined if shareholders approve at a meeting in May. The new company name has not yet been decided, but it will be run by Koichi Akamine, current president of Japan Marine Science. It is expected to start trading on 1 July. NYK said: "The s
Freezing order upheld as Russian owners fight over OSV charters The UK high court has upheld freezing orders against a Russian OSV owner in an ongoing legal battle with his former partner. Judge Sonia Tolaney QC rejected an application by defendants Balfour Worldwide and Nikolay Sochin to discharge the 2018 worldwide orders. The application was part of a wider dispute involving Sochin and former partner Nikolay Baranov over diverted charter payments. Until
DSME CEO Jung Sung-leep "offers to resign" A report in Korea has claimed DSME CEO Jung Sung-leep has offered to step down ahead of the yard's merger with Hyundai Heavy Industries (HHI). The Maeil Business newspaper cited unnamed industry sources as saying the offer was made after the yard's largest shareholder Korea Development Bank signed a conditional deal to sell its controlling stake to HHI. A formal contract is expected to be finali
ESL's new bulkers hit by "serious technical problems" Finland's ESL Shipping has been incurring significant loss of income from two new LNG-fuelled bulkers due to "serious technical problems" with their cranes. The 25,600-dwt Viiki and 23,650-dwt Haaga were delivered last year from Jinling Shipyard in China. "However, extensive and serious problems in the conventional mechanics of high-power cranes, which are subject to warranty, have significantly
Jotun's financial performance brightens Jotun, the world's leading producer of marine paints, had a strong performance towards the end of 2018, new data shows. The privately owned company reported operating revenue of nearly NOK 17.7bn last year ($2.2bn), an increase of 8% compared to 2017. Jotun wins Kyklades VLCC business The Norwegian company delivered an operating profit of NOK 1.36bn up marginally from 2017. The Sandefjord-bas
Clarksons covers key bases with new chairman Thomas New man brings FTSE 250, remuneration committee and cyber security know-how to the board of shipbroker.
Viking Line posts weaker earnings Cruiseferry operator Viking Line has logged less profit in the fourth quarter as revenue dipped. Net earnings were EUR 0.7m ($0.8), down from EUR 1.5m in 2017. Revenue was weaker at EUR 119.8m versus EUR 121.5m. Looking ahead, it said: "Competition in Viking Line's service area entails continued pressure on prices and volumes, which will have an adverse effect on net sales revenue per passenger
GasLog talks up record fourth quarter results GasLog rode a high spot market to a record fourth quarter performance, the company reported Thursday. The New York-traded LNG carrier owner posted $62.5m in adjusted profit as spot rates shot into the six-figures in the last three months of 2018, and over $200,000 in November. Chappell: LNG carrier rates will stay high The companyreported record revenue at $188.6m and Ebitda at $145m. It's ad
Zodiac builds strong position in LR2 sector with GEM deal Below the radar purchase follows on from strides taken in sector with Toisa transaction.
Commerzbank sheds $5.75bn of legacy loans as shipping book shrinks German lender continues to run down portfolios as it cuts maritime book to fewer than 60 ships.
Nauticor chief exec Abeynaike focuses on going 'the last mile' Nauticor chief executive Mahinde Abeynaike expects the market share of LNG-fuelled newbuildings will "grow significantly". But he added: "The key question is more, when will the newbuilding market ramp up again?" Abeynaike believes most companies looking at newbuilding projects will consider the LNG-fuelling option. Industry must go 'last mile' on LNG bunkers - Hapag-Lloyd He pointed to the mo
Nauticor targets wider LNG bunker play as first ship starts operating in Baltic Sea region Chief executive Mahinde Abeynaike tells TradeWinds how new vessel Kairos will be deployed
Besiktas busy with Norden and Grimaldi scrubber work Turkish yard wins 17 scrubber retrofit deals, with more contracts in the pipeline
Aspen finalises deal with Lodestar Fixed-premium protection and indemnity (P&I) provider Lodestar Marine has finally concluded a deal for financial backing from Aspen Insurance to allow it to continue to provide cover. Aspen set to provide new financial backing for Lodestar Aspen has moved into provide capacity to back Lodestar's fixed premium business after RSA withdrew backing late last year. Under the deal Lodestar will provi
Odfjell plunges to $48m loss but sees better times ahead Norwegian owner takes hit from terminals as new US partner Northleaf buys in, but chemical tanker markets improving.
Supply vessel sinks off Singapore All crew from the Ocean Cooper 2 are reported as safe.
Malaysia Marine and Heavy Engineering sinks to fourth quarter loss Yard group suffers from lack of large value floater conversions and LNG drydockings.
Profitable quarter sees Epic Gas heading in the right direction Singapore LPG specialist also bolsters fleet with vessel charter which includes purchase option.
Singapore Shipping Corp hit by increased costs Results at Singapore-listed PCTC operator also impacted by vessel off-hire due to drydockings.
P&I clubs declare SK Shipping 'free business' South Korean shipping company could be one of this year's biggest renewal moves as account goes up for grabs
Bond worries drive Chinese lessor CMIG to sell MSC duo Small shipping player CMIG Leasing is feeling the heat from its parent's liquidity crisis
Enforcement will be difficult for U.S.-China talks, analyst says But U.S.-China Business Council President Erin Ennis indicated she sees a path forward in negotiations.
AAPA wants more investment in multimodal projects An increase in the gas tax and maintaining balanced economic regulation in railroading also were discussed during Wednesday's Senate committee hearing.
Ports of L.A., Oakland report container volume increase
Maersk enters into deal for low-sulfur fuel
Triton International expects favorable conditions in 2019
Executive Moves: CEVA, FlexiVan, Port of San Francisco
EU looks to 2025 for maritime single window
EC finds no cargo concern with Virgin Atlantic takeover
US refiners urge White House to let IMO 2020 take effect on schedule US refiners are well positioned to meet stricter sulfur limits on marine fuel from January 2020
ARA fuel oil stocks build 8% as arbitrage economics to East sour Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp hub grew 8% on the week
Brazilian low viscosity fuel oil hits Europe amid oversupply in Singapore The European fuel oil market has seen the resupply of lower viscosity material from Brazil
Singapore LSMGO monthly sales hit record high in Jan Singapore sales of low sulfur marine gasoil rose to a record monthly high in January
External: Praxis Energy Agents DMCC
Container line Maersk announces New Jersey 0.5% sulfur bunker production deal AP Moller-Maersk, owners of the largest shipping company in the world, announced a deal with New Jersey-based storage and pipeline operator PBF Logistics to produce and store 0.5% sulfur marine fuels on the US East Coast.
External: Marine Bunkering(Rotterdam)B.V.
External: Global Risk Management
Uncertainty over FONAR guidance remains as IMO 2020 looms: Standard Club "Many will hope that states will be more lenient during the initial period following January 2020," the Club said.
SINGAPORE DATA: Jan bunker fuel sales fall 8.8% on year to 4.2 mil mt Trade sources said lower delivered bunker fuel prices at Fujairah had diverted some demand away from Singapore.
Germany's Schulte buys stake in THC to plan for IMO's biofouling guidelines Managing biofouling also helps to improve a ship's hydrodynamic performance and hence bunker fuel efficiency.
Panama Canal Authority to lower draft restriction to 47 feet as of March 13 The change marks the third restriction announced in 2019 based on low projected water levels in Gatun Lake.
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