Gulf Island delivers third Z-Tech tug in series Gulf Island Fabrication, Inc. reports that its Shipyard Division has successfully delivered the M/V Connolly M, a Z-Tech 30-80 Terminal/Escort Tug to Bay Houston Towing Company. The M/V Connelly M was designed
Houston Ship Channel reopens as spill response continues The Houston Ship Channel has been reopened following the closure that followed the May 10 collision between the 755-foot tanker Genesis River and barges pushed by the Kirby tug Voyager that resulted
Sea Machines partners with Hike Metal on autonomous SAR Boston, Mass, based Sea Machines Robotics is partnering with Canadian workboat manufacturer Hike Metal to integrate Sea Machines' SM300 autonomous vessel control system aboard commercial vessels tasked with search-and-rescue (SAR) missions. Once
Hurtigruten introduces electric explorer catamarans Expedition cruise specialist Hurtigruten has partnered with Norwegian startup Brim Explorer to introduce battery powered catamarans custom built for Polar water exploration. Beginning in the spring of 2020, a 24 m x
Minerva orders fifth LNG carrier Industry sources say Greek owner added a ship at Samsung recently while MOL is touted as the owner behind this...
Shipping security tightens as investigations probe Iran links to tanker attacks Photographs emerge confirming initial reports that little damage was done to the four vessels
Production begins at Cameron LNG Louisiana export facility will begin loading cargoes in the coming weeks
IMO baulks at mandatory bunker licensing schemes Governments shun mandatory national bunker licensing schemes as lobbyists fail to persuade them to impose mandatory rules
US sanctions paralyse Iran oil exports The dramatic slide in shipments seen leaving Iran this month is unprecedented and underscores that steps are being taken to...
UK maritime sector commits to recruiting more women Maritime UK chairman Harry Theochari acknowledged the challenges of attaining the gender balance that many companies aspire to achieve in...
Are coal trades facing the blues? Shipments from the US also expected to decline, especially of thermal coal, according to Doyle Trading Consultants
COSL to build 12 dual-fuel PSVs at China yard COSL sees that an increasing number of ships will be built for use with LNG fuel, and its initial order...
Time to put 'scrapping' on the scrap heap? New regulations are forcing facilities to act and standards are slowly improving, says Elin Beate Saltkjel, head of QA at Grieg...
China's trade conditions seen as worsening in the second half Container lines have been seen making some adjustments in their networks in recent months
Dry bulk shipping safe from Chinese tariffs for now Following the most recent trade talks between China's apparatchiks and the White House trade team, China's decision to increase tariffs on...
Poor liner reliability opens a window of opportunity for those who get it right There is huge opportunity for an alliance that can try to be the top performer among the global top 15...
Quality carrier services require customer commitment Lines look to differentiate on service quality rather than costs to improve schedule reliability
Schulte Group launches start-up unit focused on Europe and Asia Schulte Group unit founded to support early-stage ventures, typically pre-revenue companies at the idea or prototype stage
Torm commits to 13 more scrubber retrofits The company agreed the sale of two ageing medium range tankers in the first quarter, leaving it with 69 vessels...
Container shipping faces wave of disruption The impact on container shipping from digitalisation will hinge on the the extent to which digital disruptors will be able...
Dynamic pricing could save box shipping from a 'Ryanair' future Customer segmentation offers opportunities to lift earnings from customers willing to pay more
Daily Briefing Tanker 'sabotage' off UAE puts shipping on alert | Shippers call for bunker bill clarity | Low-sulphur quality concerns still...
Canada's LNG project developer buying out gas producer Pacific Oil & Gas, which is developing the 2.1m tonnes per annum Woodfibre LNG export project, has signed definitive agreements to...
LNG-related stocks take a hit from China's latest tariff rises Chinese LNG buyers have already started diverting US-origin cargoes since last September
Nordic American Tankers posts best results in years Nordic American Tankers is trumpeting its best quarterly performance in nearly three years, with even better days in store. The Herbjorn Hansson-led company posted a $5.6m profit for the first three months of 2019 a $25.3m improvement over the same period last year and its best, the company said, since the second quarter of 2016. New loan's 'cash sweep' could limit dividends for Nordic American
Diana Shipping gets boost from improved tender offer New York-listed bulker player raises share price to $3.40.
Product tanker Babylon back under the hammer in Asia One of two Coastal Oil handysize product tankers that failed to sell at auction in April will be back on the auction block at the end of this month. The Sheriff of Singapore's office will conduct another auction for the 24,200-dwt Babylon (built 2017) on 27 May via a sealed tender process, with offers on the ship due in at 3pm on the day. The Babylon, together with identical sistership Atalanta
Taylor Maritime stays true to secondhand bulk carriers Buttery says it is possible to earn good returns with older bulkers provided you have the know-how
AVIC International Leasing emerges as financier for five Navios product tankers Chinese state lessor continues expansion pace as its business is not affected by the planned sale of group shipbuilding
Navigator Holdings hypes 2020 with projects coming on line Navigator Holdings is already looking ahead to next year. A number of one-off incidents worldwide pushed the New York-listed company into the red for the first quarter, but chief executive David Butters said other projects identified on the company's "road to 2020" are humming along. "We believe in the milestones we identified on that road to 2020 remain achievable and essentially on our origina
Latest scrubber play gives Torm full hand for IMO 2020 Torm now has the hand it wanted to play in the IMO 2020 tanker upcycle after doubling its investment in scrubber technology today, according to executive director Jacob Meldgaard. The Danish product tanker owner this morning revealed it would now fit the equipment on 34 of its tankers, with all bar two having the kit on board by the start of next year. "We are now where we would like to be ahead
Diamond S could expand scrubber total Craig Stevenson fields his first public conference call in 12 years with IMO 2020 questions and explanation of repositioning costs on MR fleet.
UK Club reports $32m loss P&I mutual's balance sheet hit by expensive claims
Diana Shipping extends tender offer at higher price Simeon Palios-led bulker owner in April offered to buy back 3.13 million shares.
Cosco International boosted by bulker charter Cosco Shipping International's marine revenue grew in the first quarter thanks to an additional bulker in operation. The Singapore-listed owner chartered in an extra ship in the period, pushing revenue up 14% from SGD 3.6m ($2.59m) to SGD 4.1m. Group net profit was SGD 2.94m, up from SGD 2.87bn in 2018, but overall revenue declined to SGD 39.01m from SGD 40.64m. However, charter rates were lowe
Germany's 'bad bank' turns a corner with first positive result Portfoliomanagement releases in-the-black results but warns that winding down of non-performing shipping loans will continue for years to come
Roose & Partners calls for quick release of Yantian Express cargo Law firm wants all parties to work together to deliver salvaged cargo from fire-ravaged containership
Libya's NOC opens office in US for $60bn push Libya's National Oil Corporation (NOC) has opened its first international headquarters in Houston. The office is planning to lead a $60bn procurement drive to upgrade Libya's oil and gas sector and increase production capacity to 2.1m barrels per day by 2023. NOC chairman Mustafa Sanalla said: "This is NOC's first international office - a major milestone in our journey as an NOC responsible for
Yang Ming cuts back loss to $22m Taiwanese container line Yang Ming Marine Transport has slashed its first quarter loss as revenue rose. It said the net deficit to 31 March was TWD 0.68bn ($22.06m), down from TWD 1.95bn in 2018. Yang Ming seals deal for boxship quartet with Shoei Kisen The owner's ships carried 1.29m teu in the period, up 5% year-on-year. Revenue increased 13% to TWD 35.08bn. The improvement came despite the
Maxim Group second US bank in six weeks to cut shipping coverage A second investment bank has parted ways with its shipping analyst and apparently dropped coverage of the sector in a climate of scarce deals and struggling shares. The Maxim Group has let go analyst James Jang just weeks after Seaport Global Securities split with Houston-based analyst Magnus Fyhr, sources told TradeWinds. Jang had been writing research notes on companies including DHT Holdings,
Solomon Trader refloated after three months Salvage workers have managed to refloat an ageing bulker that has been aground close to a Unesco World Heritage site for more than two months. The 74,000-dwt Solomon Trader (built 1994), partially loaded with 11,000 tonnes of bauxite, got stuck in the Solomon Islands' Rennell Bay in February this year after being caught up in a storm. Authorities draw up plans to refloat sorry Solomon Trader Th
Ship Finance International eyes new bonds John Fredriksen shipowning company Ship Finance International is going on the road to test support for a new bond issue. It has brought in DNB Markets, Nordea, SEB and Arctic Securities to arrange a series of fixed-income investor meetings in the Nordic countries from 22 May. A five-year Norwegian unsecured bond may follow, subject to market conditions, it said. Last August, the company secured
VSM boss Luken slams Chinese state support for yards Chinese state aid to shipyards has come under fire in Germany for "distorting" the market. Speaking at its annual meeting, German Shipbuilding and Ocean Industries Association (VSM) general manager Reinhard Luken said Asian competitors are aiming to penetrate the high-tech shipbuilding market. "It is a sign of realism that the discussion has shifted from focusing only on the opportunities offere
Fiba Group exits shipping as it sells final MR tanker Hong Kong-based owner Island Navigation pays $26m-plus to Turkish billionaire for 50,000-dwt vessel
How New Shore aims to revive Germany's retail space An online crowdfunding venture is targeting a new generation of investors with a 'warts and all' pitch
28 people to remain on quarantined Scientology ship A group of passengers and crew have been ordered to stay on a Church of Scientology cruiseship on which a case of measles was discovered. Scientology cruiseship quarantined after measles case The 9,800-gt Freewinds (built 1968) was originally quarantined in St Lucia at the start of May. It was later released to head to its home port of Curacao and arrived there a week ago. Authorities there sa
Eidesvik vessel to spend summer in the North Sea Eidesvik Offshore has won a letter of award to supply a source vessel to ocean-bottom seismic technology firm Magseis Fairfield this summer. The 93-metre survey vessel Veritas Viking (built 1998) will be employed for two to three months on an upcoming ocean-bottom survey at an undisclosed location in the North Sea . Eidesvik continues cooperation with Seabed Geosolutions The contract commences
Gulf Navigation slips into the red Dubai tanker owner Gulf Navigation has fallen to a loss as costs rose faster than revenue in the first quarter. The company said the net deficit was AED 11m ($2.99m) to 31 March, compared to a profit of AED 4.9m in 2018. Revenue increased to AED 45m from AED 37.6m, but operating expenses jumped to AED 41.8m against AED 27.5m. In early December, UAE-based Goldilocks Investment Company acquired
Danish shipowner Torm doubles scrubber investment to span half of its tanker fleet Danish product tanker owner Torm has doubled its investment in scrubbers having ridden a recovering market to record its best quarterly results in three years. Torm says tanker market is set for 'multi-year' upward cycle Product tanker capital of the world shows clockwork growth Torm extends scrubber plan as it inks new joint venture Torm shows 2020 hand with scrubbers set for all newbuildings
Q-Flex LNG carrier makes historic transit of Panama Canal Largest LNG carrier to date uses the expanded waterway, opening trade potential for all but the largest vessels in Q-ship fleet
Eidesvik continues cooperation with Seabed Geosolutions Eidesvik Offshore has signed a deal to supply Seabed Geosolutions with seismic source and node-handling vessels over a "long-term" period. The two have agreed a master timecharter agreement, under which individual contracts will be called off, the shipowner said on Monday. Eidesvik details two-tier PSV market Eidesvik: no subsea recovery until 2020 Under the first call-off agreement, Eidesvik
Marinakis aframax tanker newbuildings set for ExxonMobil time charters Greek shipowner Evangelos Marinakis is set to secure long-term time charters for two aframax tanker newbuildings on order in South Korea. The deal, which is believed to remain on subjects, is the latest evidence of charterers paying a premium for scrubber-fitted tankers with IMO 2020 rules set to arrive. Price of Marinakis' aframax duo emerges Evangelos Marinakis marks S&P scorecard with profit
Dramatic turnaround for Namura Shipbuilding Japan's Namura Shipbuilding is expecting a much better annual result than previously forecast. It said net earnings for the year ended 31 March will now be around JPY 621m ($5.65m), against a forecast loss of JPY 500m before. Namura posted a loss of JPY 20.55bn in the previous 12 months. Revenue is expected to be JPY 124.58bn, down from an actual income of JPY 134.88bn a year earlier
Splosna Plovba fleet shrinks with sale of bulker pair Greek dry debutant strikes second deal in as many months to snap up sistership from shipowning arm of Shin Kurushima Dockyard
KN Maritime sells second ultramax to Neptune Dry Greek dry debutant strikes second deal in as many months to snap up sistership from shipowning arm of Shin Kurushima Dockyard
UK Supreme Court's shipping shortfall angers its legal sector Country seen at risk of losing its edge with lack of commercial experience on the bench
USTR releases notice for $300 billion in additional China tariffs Sen. Chuck Grassley said Americans "need to know" the Trump administration understands the economic pain they would feel in a prolonged trade war.
WCI lays out ways to update inland waterways Waterways Council Inc. President and CEO Mike Toohey says "the Corps of Engineers-maintained lock system would qualify for Social Security if there were such eligibility."
Port of Oakland will continue talks on waterfront ballpark Commissioners voted 7-0 in favor of continuing negotiations with the Oakland Athletics for the lease of Howard Terminal as the site for a new baseball stadium.
More carriers join Digital Container Shipping Association
First Q-Flex LNG tanker transits Panama Canal
Register for Thursday's trade compliance webinar
Yang Ming reports higher revenue, smaller loss in Q1
Istanbul bunker market short of marine gasoil Marine gasoil is in short supply at the port of Istanbul in Turkey due to the delayed arrival of replenishment cargoes.
Singapore's defense minister flags concerns on maritime security threats Global maritime threats are persisting Singapore's defense minister Ng Eng Hen said Tuesday.
Japan sees no immediate impact on Mideast crude imports after 'sabotage attack': METI minister Japan does not see immediate impact on its crude imports from the Middle East.
Ship sabotage in UAE has muted impact on Fujairah bunker operations: sources "There is no concern about availability so far," a bunker trader in the region said.
TRADER NOTE: Glander appoints David Chiang as bunker risk manager "More clients consider hedging as a bunker requirement to mitigate risks from an expected volatile market," Carsten Ladekjaer, company CEO, said.
Shell conducts 19 successful VLSFO trials with shipowners as IMO 2020 looms Shell Shipping & Maritime has also carried out a successful trial of the new fuel on one of its own vessels, Henderson said.
Germany's Uniper aims to boost LSFO spot sales as traders eye storage play "We see demand increasing significantly, both in the 0.1% market, and now we are having active conversations on the 0.5% market for delivery through the end of the year," Wood said.
Ship operator Thome confirms 'sustained hull damage' to oil tanker off Fujairah Sun "The master of MT Andrea Victory reported the crew were unharmed but there was a hole in the hull area of the aft peak tank," Thome said.
UK War Risks Club says investigating Fujairah ship sabotage incident "If a change to the current designated Additional Premium areas is to be made then this would be made with seven days' notice to shipowners," Whitear said.
Ship sabotage in UAE adds to Gulf oil supply risks "The precise means of attack or sabotage is unknown," the US Maritime Administration alerted.
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