Ingalls authenticates keel of LHA 8 The keel laying and authentication ceremony for the future USS Bougainville (LHA 8) was held at the Huntington Ingalls Industries' Ingalls Shipbuilding division (HII), March 14. The ship's sponsor, Ellyn Dunford, spouse
RMK Merrill-Stevens Shipyard launches Electronic Systems Division The RMK Merrill-Stevens Shipyard, Miami, is adding a new Electronic Systems Division and has hired experienced electronic systems integrator David Gratton, to oversee and manage the division. Gratton's career in electronics began
Finland's Alfons Håkans orders two icebreaking escort tugs Turku, Finland, headquartered Alfons Håkans has signed a contract with Turkey's Sanmar shipyard for the construction of two ice class 67-ton bollard pull ASD tugs. Designed by Robert Allan Ltd., they will
Crowley promotes Ira Douglas to VP, Labor Relations Crowley Maritime Corp. has promoted Ira Douglas to vice president, labor relations, to lead the company's relationships, operating agreements and partnerships with unions representing seafarers, terminal stevedores and truck drivers. Douglas, formerly
Scorpio Bulkers in seven ship sale and leaseback deal Scorpio Bulkers Inc. (NYSE:SALT) has agreed to sell and leaseback three Ultramax vessels (SBI Pegasus, SBI Subaru and SBI Ursa) and four Kamsarmax vessels (SBI Lambada, SBI Macarena, SBI Carioca and SBI
BC Ferries plans to build five next gen ferries BC Ferries is planning to build up to five new ferries that will replace four existing ships. The new ferries will potentially add capacity to the Metro Vancouver - Vancouver Island routes
Totem Plus systems to be supplied with Naval Dome cyber protection Automation and navigation system specialist Totem Plus has signed a license agreement with Naval Dome for use of its maritime cyber security software across a range of its advanced solutions. Under the
PDVSA's woes deepen A legal source says PDVSA's fleet is now in danger of being arrested beyond Venezuelan waters due to unpaid fees...
Grimaldi focus on pollution after vessel sinks off France Grande America sank with 2,210 vehicles and 365 containers, 45 of which were IMO-classifed hazardous
MSC and Fincantieri finalise cruiseship order The four 64,000 gt luxury cruiseships will be delivered to MSC between 2023 and 2026
Willis Towers Watson hires Marsh's Ripton David Ripton has more than 30 years' experience in marine insurance
Belships gets loan to expand fleet Dry bulk owner is seeking to grow its supramax and/ or ultramax fleet after merger with the Lighthouse group of...
Finnlines boosts green investments The Emannuele Grimaldi-led firm's annual profits surpass $100m as firm mulls ro-pax orders
Between the Lines: Carrier results show benefits of scale Liner shipping has increasingly become a size-driven industry, with the smaller carriers recording most of the losses
Maersk to set own hull pricing as more insurance switched to captive Recent major casualties on Maersk ships include a fire on Maersk Honam last year, a collision involving chemtanker Carla Maersk...
Scorpio Bulkers agrees sale-leasebacks for seven vessels Deal with CMB Financial Leasing is among moves to boost owner's liquidity
Changing Lanes: Box lines horizontal integration reaches climax A flurry of mergers and acquisitions over the past five years has seen the number of truly global liner operators...
Automation is changing the fortunes of ports While concerns about job losses are at the top of the ILWU's agenda, other countries are preparing the next generation...
Suezmax tonnage taking more Russian barrels The total tonne mile demand being created in the suezmax Russian crude oil export market is now almost on par...
Viewpoint: Fit for purpose Accidents attributed to the bad design of equipment tend to involve advanced technology, rather than the tried and tested
MSC Eloane a vote of confidence for the US west coast Big alliance player MSC's deployment of an ultra large container vessel on the USWC trade is seen underscoring the continuing...
US fines importers for breach of emissions rules The US Clean Air Act prohibits the importation or sale of any new engines or vehicles unless they are certified...
ILWU wins political support in fight against automation Los Angeles County Democratic Party has issued a resolution that 'supports the efforts of the International Longshore and Warehouse Union...
Ripton leads marine at Willis Towers Watson Willis Towers Watson says appointment will help expand global marine business
Yard capacity squeeze set to push up newbuild prices again Cost of ordering likely to rise further due to shipbuilder numbers shrinking after 10% rise in 2018, BRS says
Record orders for cruiseships as passenger numbers keep rising Broker BRS says China remains 'next logical growth reservoir' as sector proves resilient and flexible
MPCC's Baack stays calm as main lines eat into feedership market Outlook for the sector comes under scrutiny after Oslo-listed firm's share price slumps
MPC Capital tops 2018 containership buyers' table MPC Capital crowned top buyer in market that is starting to feel the effects of IMO 2020, says leading French broker
Canada Steamship in $48m swoop for Scorpio Bulkers kamsarmax brace Canada Steamship Lines is tipped to have splashed out on a pair of kamsarmax vessels from Scorpio Bulkers in what would be its largest move in the sale and purchase market. Scorpio Bulkers on the attack with vessel sale proceeds Scorpio Bulkers sells two kamsarmaxes New York-listed Scorpio sold the 82,000 dwt SBI Electra and SBI Flamenco (both built 2015) this week in a $48m move which builds t
Solomon Trader salvage turns into wreck removal exercise Hull loss after grounding will end up being only a fraction of the escalating claims emerging from Pacific island disaster
Thenamaris poised to net lone LNG carrier for EDP tender Greek shipowner Thenamaris is emerging as the top pick to scoop a multi-year charter deal for a single LNG carrier from European electricity supplier Energias de Portugal (EDP). Brokers name Thenamaris as the likely winner of the EDP tender but say compatriot TMS Cardiff Gas and Norway's Knutsen OAS Shipping were also in the running for this business. Contracts are expected to be signed within w
ExxonMobil scouts yards and owners for ice-class aframaxes ExxonMobil is scouting shipyards and shipowners for up to four ice-class aframax tankers. Industry sources said the US energy major is tendering for offers on two ice-class 1A tankers capable of bow-loading, with an option on a further two vessels. Samsung and Zvezda form shuttle tanker JV They indicated that Samsung Heavy Industries is well placed for this type of business, and they name Teeka
Wanted: Owner to take six VLEC newbuilds for Chinese charterer Zhejiang Satellite Petrochemical appeals for 'financially strong' shipowners to make charterback deal for South Korean vessels worth more than $745m
Belships rings in $140m loan for new era expansion The financing has been secured from a consortium of Scandinavian lenders
Cargoship partially submerged off Turkey All six crew are reported to be safe after their general cargoship partially sank off Turkey. Deniz Haber reported that the 1,700-dwt Yusuf Celal (built 1978) went down off Marmara island on Wednesday. The circumstances of the incident are not clear. The vessel is operated by OF Shipping & Trading Co of Turkey, which has been contacted for comment.
China Merchants chairman declares "worst for offshore shipbuilding over" Li Jianhong is showing more confidence in the depressed sector after group affiliates signed a four-rig deal with Shelf Drilling.
Mississippi River closed after tugboat sinks in Louisiana The US Coast Guard has closed part of the Mississippi River in Louisiana after a tug sank this morning. The closure is from mile marker 224.5 to mile marker 226 near Baton Rouge. The agency closed the river after the tug Michelle Anne sank in the Baton Rouge General Anchorage at 11 a.m. Thursday morning. The four crew members were rescued by a nearby tug and no injuries were reported. The Coa
MSC confirms $2.3bn cruiseship order MSC and Fincantieri have finalised contracts for four luxury cruiseships worth more than EUR 2bn ($2.3bn). Pierfrancesco Vago, executive chairman of MSC's cruises division, said: "With this now firm order, MSC is entering a new segment that bears significant potential globally. MSC Cruises inks four-ship deal worth $2.3bn "While we already serve the premium market with the MSC Yacht Club featur
Niovis Shipping says reports of Oxygen sale are full of hot air Niovis Shipping of Greece has denied reports it has disposed of a 10-year-old supramax bulker. US brokers say the company has disposed of its 55,000-dwt Oxygen (built 2009), with the Mitsui Engineering & Shipbuilding-constructed ship understood to have gone for $13.5m. That is below VesselsValue's $12.9m estimate for a vessel of Oxygen's characteristics, but within Maritime Strategies Internatio
KNOT Offshore appoints new CEO New York-listed shuttle tanker owner KNOT Offshore Partners has found a successor as CEO to John Costain. The company said that Gary Chapman will take on the role from 1 June, as well as becoming CFO like Costain. KNOT Offshore's John Costain stepping down The company announced Costain was stepping down last November to pursue other interests, but was staying on through to May while a new boss
Panama de-flags 60 Iranian, Syrian ships The return of US sanctions has seen Panama de-flag a fleet of Iranian tankers. This is according to an Iranian official cited by Reuters. Iran working on order for 10 VLCCs The vast majority of the country's tankers had been registered in Panama previously. A source at Panama's flag registry said the cancellation "affects approximately 60 Panama-registered ships that are related to Iranian and
TNG secures more MR tanker cover Croatia's Tankerska Next Generation (TNG) has fixed out another of its MR tankers on a period charter. Trafigura moves for TNG MRs The company said the 53,000-dwt conventional ice-class ship Velebit (built 2011) has won a year's deal at $14,500 with a prominent charterer. "Additionally, the charterer has an option to extend the contract for an additional eight months at approximately $15,500 pe
Scorpio Bulkers seals seven-ship sale and leaseback deal After testing the water last month with a kamsarmax transaction, the Emanuele Lauro-led company has signed a seven-ship deal
Glencore loses appeal after aframax arson Cargo owner Glencore has failed in a $3.8m appeal relating to damage caused to an aframax tanker by a fire that was deliberately started by a crew member. The UK court of appeal upheld last year's commercial court judgement that a shipowner is protected by the "fire defence" under the Hague rules even when a fire is caused by a deliberate act by a seafarer. This is a definitive ruling exempting
Otto Tidemand and family looks to cut Stove Shipping fleet Otto Gregard Tidemand and his family are looking to potentially trim the number of ships in Stove Shipping - their private company - by selling a supramax bulker. T he company is denying broker reports that it is selling the 58,000-dwt Stove Caledonia (built 2010) for $14.3m. That price for the Tsuneishi Shipbuilding-constructed ship would be in line with the $14.6m fetched for a similar vessel
Cash-strapped shipbuilder HHIC-Phil halts production Subic yard has been mothballed as government seeks White Knight after striking a deal with creditors
CMB keen to secure its four newbuildings at HHIC-Phil CMB managing director Alexander Saverys says his company is cooperating with receivers to take delivery of four LR product tankers it has on order at Hanjin Heavy Industries & Construction Philippines (HHIC-Phil) in Subic Bay. The claim by the executive of the Belgian shipowner comes amid speculation that the troubled yard wants to sell the ships. "We are talking to the receiver of the yard to s
Stolt-Nielsen predicts chemical tanker turning point this year A distinct upturn in the chemical tanker market awaits next year, Stolt-Nielsen says. Oslo-listed Stolt is typically cautious in its outlook but expects a turning point for freight rates to arrive this year. Stolt-Nielsen reveals progress on 2020 fuel charges and tanker leaseback deal Tankers drag Stolt-Nielsen profit below forecasts Stolt-Nielsen wins upgrade following post-summer selloff Ni
CMA CGM wins 89.5% of CEVA French line CMA CGM now controls nearly 89.5% of Swiss group CEVA Logistics following a tender offer. Saade steers CMA CGM in new direction with CEVA purchase The shipowner is paying CHF 30 ($30.25) per share to raise its holding from 33% in a deal valuing the logistics player at $1.66bn. An additional acceptance period will begin on 20 March and run until 2 April. CMA CGM also announced new p
Tristar hints of possible IPO Middle East oil logistics and shipowning giant says public listing could help it meet its growth aims.
BlueMountain continues International Seaways sell off Investor still remains a major stakeholder.
Margaronis builds Diana Shipping stake Diana Shipping president Anastasios Margaronis has increased his stake to 6% with two stock awards. Diana Shipping fixes cape with Cargill An SEC filing revealed the executive's Anamar Investments now owns 6.26m shares worth $17m. In January, Anamar received 0.66m shares from Ironwood Trading and 1.52m from Corozal Compania Naviera in a pro rata distribution to shareholders. Last month, it was
Lundqvist gets healthy price for vintage aframax tanker Lundqvist Rederierna has found a trading buyer for a 20-year-old aframax tanker. The 99,000-dwt Hildegaard (built 1999) has been the oldest tanker in the Finnish owner's fleet, and the ship has reportedly gone for a higher-than-expected $8.7m. VesselsValue says a ship of the DSME-built Hildegaard's characteristics is worth $7.5m, while Maritime Strategies International puts the value at $6.7m
BSM: working with Venezuela 'almost impossible' Bernhard Schulte Shipmanagement (BSM) has confirmed it will hand back all the tankers it manages for Venezuela's PDVSA, saying it has become "almost impossible" to work with the government. The manager is reported to operate 13 ships owned by PDVSA and two VLCCs jointly owned by the oil company and China's PetroChina. PDVSA: "We are still working with BSM" PDVSA declares maritime emergency BSM
Daewoo Shipbuilding & Marine Engineering to sign off with second successive profit Daewoo Shipbuilding & Marine Engineering has rung up a profit in its final full year before being taken over by Hyundai Heavy Industries. Riots and new CEO for DSME as HHI merger sealed Politics, price and succession shape Hyundai Heavy and Daewoo mega-merger Seoul-listed DSME today reported its profit for 2018 was down from the previous year but the result did mark a second successive year in
Vale dam disaster demand impact sees Cleaves slice capesize rate forecasts Tangible impacts from the tragic collapse of a Vale dam in Brazil have led Cleaves Securities to slice its capesize rate forecasts. Analyst Joakim Hannisdahl is now projecting negative demand growth for capesize bulkers this year and expects a short-term slump in asset values. Hannisdahl, who has a punchier view of smaller bulk carrier trades, however, notes much of the negativity around the sec
Investor pumps $5m into Globus Greek bulker owner Globus Maritime has sealed a deal with a private investor to sell a convertible notes issue worth $5m. Chairman Georgios Feidakis said: "This infusion of capital strengthens the company's balance sheet. We are pleased to again demonstrate investor confidence in the company." The series carries interest at 10%, which can be paid in shares. Feidakis sheds $2m worth of Globus Ma
Middle East offshore treading water, but heading in the right direction Fragmented ownership is leaving regional offshore players at a significant disadvantage, says leading expert in the region's offshore oil and gas sector.
Lines lean on lease financing to back orders for containerships Maersk Line has confirmed lease-financing deals for 13 feeder containerships to be built at Chinese and Japanese yards for its intra-Asia network. The Danish liner giant said it will charter a series of 2,200-teu vessels that will be owned and fully financed by third-party vessel leasing companies. Industry sources said Maersk Line is teaming up with ICBC Financial Leasing on an order for five f
Second Greek FSRU project begins to take shape The Vardinoyiannis family has obtained a licence to install a floating storage and regasification unit off Greece, making it the second such terminal under development for the country. The licence covers an FSRU with a length of up to 300 metres and displacement of 80,000 dwt. It calls for capacity to be between 135,000 cbm and 170,000 cbm in four Moss-type tanks. Two regasification units are to
Norient Product Pool takes fourth World Tankers MR Danish shipowner Norden is expanding its Norient tanker pool by taking another MR product tanker on time charter. Norient Product Pool has reportedly fixed the 50,000-dwt Arendal (built 2010) for a year from Greek shipowner Polys Haji-Ioannou's World Tankers Management. Jan Rindbo: sale and purchase still part of Norden's DNA in asset light era Brokers said the company is paying $13,750 per day
Supramax purchase takes Diligent fleet to 13 bulkers Latest buy of Japanese-owned vessel lifts Greek owner's presence in dry bulk
Salvors plug Solomon Trader oil spill Insurer Korea P&I says it is close to ending further spills from grounded bulker.
Layups reach 183 OSVs at Bourbon French owner Bourbon has revealed it had 183 of its 500 OSVs stacked in 2018, but it said this number has now stabilised. A "timid" market recovery means it has begun to reactivate some units, it added. It had 178 of 511 vessels laid up in 2017. Bourbon sells duo to expanding Glomar The net loss last year was cut to EUR 457.8m ($518m) against EUR 576.3m, as operating costs continued to fall.
Maran Tankers declares suezmax option John Angelicoussis-backed Maran Tankers' has declared its final suezmax option at Korea's Daehan Shipbuilding. The yard said on Thursday that the last ship of four, a 157,000-dwt tanker, has been firmed up with the Greek owner. Maran Tankers' firmed option kick-starts Daehan's year The Haenam-based shipbuilder had said in February that Maran signed up for a suezmax by exercising an option it he
Iran warns Israel against tanker disruption Iran has warned Israel it will respond firmly to any attempts to block crude shipments. Israel had said its navy could take action against what it claimed was Iranian smuggling to evade US sanctions. Iranian state news agency IRNA cited Iran's minister of defence Amir Hatami as saying it had the military capabilities to confront any Israeli intervention. Hatami said any such moves would be cons
Fuel spill from sunken Grande America 10 kilometers long The Grimaldi Group ship was carrying about 2,200 tons of heavy fuel oil when it sank Tuesday in the Bay of Biscay.
House Homeland Security clears two CBP bills The bills introduced by Rep. Xochitl Torres Small, D-N.M., and Rep. Clay Higgins, R-La., focus on bolstering CBP staffing.
Diaz-Balart: Florida ports should tap into grants in 2019
Shell New Energies aims to be No. 1 in power by 2030
Venezuela production woes tightens US supply outlook, pushing WTI to new high
Dueling US oil sanctions give India unexpected leverage
BSM aims to return management of Venezuelan ships to Gov by April due to sanctions "Our intention is to try and hand back all the vessels to PDV Marina and its subsidiaries as soon as practically possible," a BSM official said.
Iraq's SOMO to boost spot sales of crude oil, open Singapore office Opening of its Singapore office will be a major step to penetrate the market in Asia,Al-Shatari said.
FEATURE: Asian traders stockpiling low sulfur fuels ahead of IMO shift "The stocks are mainly low sulfur fuel oil components," a trader said.
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