Court approves Aegean Marine restructuring Mercuria improved its offer in December, heading off a rival bid and gaining support from a critical group of creditors
Hong Kong has a unique foundation for growth Hong Kong's core strengths face serious competition. However, as the Lloyd's List Business Briefing has heard, it has advantages nowhere else can match
Port of Antwerp secures $3.4bn investment from Ineos The Port of Antwerp has been chosen by Ineos as the location for a €3bn investment hailed as the biggest...
Cuts in China's coal imports force panamax earnings to slide Panamax earnings, which have slipped below supramax, may rise to $13,500 per day in March, according to Maritime Strategies International
Between the lines: Ultra large tonnage impacts Asia-Europe trade The liner industry is braced to receive around 400,000 teu of 'mega vessel' capacity this year, which is destined for...
Better late than never when it comes to container shipping For every year between 2012 and 2018, the average delay for late arrivals remained stubbornly between three and four days...
SDTR signs 10 kamsarmaxes at Dalian Shipbuilding SDTR Marine is 60% owned by China's Shandong Shipping and 40% by Singapore's Transcenden Global Pte
Brexit vote is 'beginning of a process, not the end', says UK ports body Prime Minister Theresa May is expected to be defeated on Tuesday evening when she puts forward her proposals before Members...
Maersk Honam to be rebuilt in South Korea The stern section of fire-damaged Maersk Honam is to be shipped to South Korea for a new bow section to...
Stena partners Hyundai Glovis in European shortsea car carrier venture A subsidiary of Stena and German car carrier Glovis Europe has filed a merger application to the EU for a...
PSA terminal volumes increase 9% Almost half of the group's volumes come from its Singapore terminals
Daily Briefing What the latest China trade data tells shipping | Trade war threatens US box terminals after record year | Gender...
HHIC-Phil secures court approval for rehabilitation HHIC-Phil reportedly had $1.3bn of outstanding debts, borrowed from Filipino banks and South Korean lenders
Asian sea robbery at lowest in a decade A total of 76 incidents of piracy and armed robbery, comprising 62 actual and 14 attempted incidents, were reported in...
Torm facing FSLT claim over tanker redeliveries The vessels were returned in 'an untradeable condition and in breach of the redelivery provisions of the bareboat charters', FSLT...
Shanghai International Port Group records 10.9% profit decline Company made Yuan1.25bn of investment gains from a 4.13% stake in the Postal Savings Bank of China during the first...
Singapore bunker sales flat as box traffic rises The first full year of operations at CMA CGM-PSA Lion Terminal gave the port a major boost, lifting Singapore's container volume
US in talks with Qatar over sending LNG to Europe Trump administration wants Europe getting less LNG from Russian pipelines, more from the US Gulf and Middle East
UK ports 'concerned' over nixed Brexit deal British Ports Association urges government come up with alternative plans to avoid messy withdrawal from European Union.
Navig8 principals take control of Feen Marine Scrubbers Renamed FMSI to increase capacity five-fold under leadership of Nicolas Busch and backing from partner Gary Brocklesby.
Golden Ocean buys back as DNB Asset Management trims stake in bulker owner While Golden Ocean has increased its shareholding, DNB Asset Management has slightly reduced its stake
New 2020 low sulphur fuel tests show positive results Tests for the consistency and quality of new types of IMO 2020 compliant fuels have been positive.
Bonderup plots family time after departing XO Shipping Departing XO Shipping chief executive Ejner Bonderup has opened up further about his departure from the Danish company. Bonderup departs as chief executive of XO Shipping TradeWinds reported earlier today Bonderup was exiting the position and would be replaced by two existing executives. In a subsequent interview Bonderup said he was leaving XO with a very solid and healthy, capital base and no
Kalani highlights white knight role in riding to DryShips' rescue George Economou's DryShips was probably headed for insolvency and a bankruptcy filing if not for the help rendered by Kalani Investments in righting the ship. DryShips says disclosure of Kalani dealings puts it in clear Diana Containerships lawyers say 'silly and absurd' fraud claims make no sense That is one of several contentions made by Kalani in asking a judge to dismiss the securities frau
Diana Containerships lawyers say 'silly and absurd' fraud claims make no sense Lawyers for Diana Containerships are not mincing words when it comes to their call for a New York court to dismiss a shareholder lawsuit over dealings with Kalani Investments. "Absurd" and "silly" are just two of the words hurled at the plaintiffs as defendants argue that claims of securities fraud are baseless. "Plaintiffs' case suffers from another glaring deficiency: It makes no sense," write
DryShips says disclosure of Kalani dealings puts it in clear George Economou-led owner contests shareholder fraud lawsuit on grounds it had legitimate intentions and revealed them fully in $700m equity raise from financier
Shanghai's box volume hits another all-time high in 2018 Box throughput at the world's largest container port increases to over 42 million teu as China's international trade expands
Norwegian orders new ship for Regent Seven Seas Frank del Rio-led cruise major plans to spend €475m ($542m) on the sister ship to Seven Seas Explorer.
Fitch downgrades Soechi as leverage rises Fitch Ratings has cut its assessment of Indonesian tanker owner Soechi Lines as leverage rose. The agency said the long-term issuer default rating was downgraded to B from B+ with a stable outlook. Its net leverage after the third quarter rose to five times from 4.6 times in 2017, Fitch said. Persistent under-performance at its shipyard was the underlying reason for its relatively high debt pro
Diana Containerships gets delisting notice Simeon Palios-led company's shares are at $0.89 before the opening bell.
Jackson secures 'at least' two OSV contract extensions Jackson Offshore Operators has extended at least two of its deepwater offshore supply vessels, sending charter coverage to 2020. The "firm, non-cancellable, long-term contract extensions" include the Lightning and the Squall, both 4,357-dwt vessels built in 2015. "These extensions demonstrate our clients' satisfaction with our outstanding service and are a testament to the hard work and dedicati
Seaport redraws 2019 bulker rate forecasts on demand drag Multiple macro-economic headwinds have led Seaport Global to dial down its dry cargo rate forecasts for 2019. Increased trade tensions, a slowdown in China and Beijing's restrictions on coal imports are denting demand in the sector, at a time IMO 2020 rules are expected to help boost scrapping of older ships, says analyst Magnus Fyhr. Koch emerges as charterer of first 2020 Bulkers newbuilding
Court approves Hanjin's Subic restructuring plan A Philippines court has approved the rehabilitation scheme filed by Hanjin Heavy Industries & Construction's Subic Bay shipyard. The Korean yard group applied for the restructuring process last week. The HHIC-Phil yard is reported to have defaulted on $400m in bank loans. Chinese shipbuilders eye move for Hanjin yard after filing Domestic tanker and ferry owner Dennis Uy was reported to have e
Fredriksen's Ship Finance International strikes suezmax deal with Repsol John Fredriksen's Ship Finance International has secured a time charter for one of its spot-trading suezmax tankers, sources say. Oil major Repsol is understood to have fixed the 156,000-dwt Everbright (built 2010) for a year at $23,000 per day. Fredriksen's Ship Finance International strikes again for container vessels Ship Finance International eyes tanker market after boxship spending spree
JES eyes takeover by blockchain company PLMP Chinese shipyard group in talks with buyer as it receives demand for loan payments.
Cracked cargoship banned for a year by Paris MOU A general cargoship with hull cracking has been barred from Paris MOU ports for a year. It is the second time the 2,900-dwt Nila (built 1978) has been banned by the organisation. A first offence attracts a three-month exclusion. Corroded cargoship banned by Paris MOU The port state body said the ship was detained in Russia's Kavkaz port in October, its third detention in the last three years.
Navigator Holdings to ride US ethane-based petrochemical boom with versatile fleet New York-listed owner of handysize and midsize tankers is well positioned to take advantage of rising exports from the US amid shale expansion, says chairman David Butters
Further de-bottlenecking will increase demand for LPG shipping - Butters All sizes of LPG carriers would benefit from more exports from the US Atlantic coast and Canada's west coast, says Navigator chairman
Pacific Radiance wins more time for takeover Restructuring Singapore OSV owner Pacific Radiance has gained more time to complete a buy-out by a mystery investor. The company said it has extended debt moratoria that were due to expire on Monday. The country's court has extended the agreement to 14 March. Pacific Radiance will seek more time at a hearing on that date, it added. Last month, the company said an unnamed owner had agreed to bu
Bonderup departs as chief executive of XO Shipping Former Norden dry cargo boss is being replaced by two existing staff members.
New Aegean Marine bankruptcy plan gets go-ahead It took 30 minutes in a Manhattan courtroom for Aegean Marine's Chapter 11 to take a big step forward
Sovcomflot blames low market for delayed IPO The company's CEO sees green shoots appearing in freight markets, which could help expedite Sovcomflot's part-privatisation.
Flat-earthers go on cruise to edge of the world A flat-earth cruise sounds like a potentially dangerous venture if it gets close to the edge of the world. But the Flat Earth International Conference (FEIC) is undaunted, promising a jaunt in 2020, the Guardian reported. The navigation of the vessel could call into question their beliefs, however. "Ships navigate based on the principle that the Earth is round," Henk Keijer, a former cruiseship
Dutch yard duo held talks over Uljanik takeover Dutch shipbuilders Damen and Royal IHC have held talks over a potential takeover of Croatia's struggling Uljanik Group. The country's economy minister Darko Horvat told the Hina news agency that the pair were invited to carry out due diligence, but have not yet done so. The yards have reportedly said they are now not interested in bidding for the shipbuilder, which operates the Uljanik yard in P
Dole opts for newbuildings at Chengxi US owner Dole Fresh Fruit has opted for Chengxi Shipyard in China as it renews its fleet. Broker Clarksons said the company has signed up at the yard for two 1,830-teu feeder boxships for delivery in 2021. Dole eyes Chinese newbuildings as fleet ripens for renewal No price has been given for the order. Dole has 15 vessels including reefers, with three feeders built in 2015 and 2016 at Hyundai
Nissen sheds sixth bulker since September 2018 The 82,000-dwt Crystal Star finds buyer at about $24m, brokers say.
Norwegian cruise destination set to curb number of ship visits Authorities move to protect picturesque Bergen and Unesco World Heritage fjords
Buamim out at Gulf Navigation Middle East tanker owner's chief executive quits as new shareholders come on board.
Star Bulk confirms sale of supramax as ER capes swell fleet Older vessel exits the fleet as final two ships arrive from one of three 2018 M&A transactions.
BW Group strikes again for BW LPG shares Latest buyback comes in addition to a string of purchases before Christmas.
Euronav chief sheds light on its scrubber sceptic stance Paddy Rodgers talks scrubber bans, changing environmental views and how two ULCCs are part of its back-up plan.
Viken Shipping locks suezmax into two-year contract Period rates for crude tankers remain firm with buoyant market mood for the coming quarters
Norway ports group leader urges input from stakeholders on cruise rules Cruise Norway managing director Inge Tangeras believes Norway's long coastline gives it the capacity to take even more cruise tourists and detailed research is needed before restrictions are placed on ships visiting Bergen. "We haven't seen facts on the table yet," said Tangeras of the situation in Bergen. "The whole process is not based on facts, measurements, analysis, discussion and involveme
Jefferies tips Cosco for profit fall as box rates dip Jefferies is expecting a fall in profit for Cosco Shipping Holdings as boxship rates fall. Transpacific levels have endured a sharp decline, the analyst said. Cosco and its new acquisition OOCL both have their largest market share in these trades. Finance costs related to the OOCL takeover will also weight heavily this year, Jefferies added. Costs hit CNY 952m ($140.77m) in the third quarter,
Small is best as Toisa OSV buyers bag big discounts Buyers of offshore support vessels from Greece's bankrupt Toisa group have been securing significant discounts in recent auctions, but owners still have to be aware of changing market focuses when trying to negotiate deals. That is the message from Maritime Strategies International (MSI), whose offshore analyst Ferenc Pasztor has been crunching the numbers to compare distressed sale prices with f
Euronav takes $3m hit from suezmax sale Tanker giant Euronav will book a loss of $3m from selling a suezmax for conversion. The 158,000-dwt Felicity (built 2009) has gone to a global supplier and operator of offshore floating platforms, it said on Tuesday. But the cash generated on the transaction after repayment of debt will be $21.1m. The vessel has been delivered to the new owner and will be converted into an FPSO. The capital lo
Maersk Honam to be rebuilt at Hyundai Heavy Industries Cosco Shipping heavy lift vessel expected to take one month to transport hull to Korea.
Smit to salvage Star Centurion wreck Dutch salvage specialist to carry out complicated salvage job on capsized pipelayer.
China sees big surge in year-end crude imports Oil imports up over 10% for the year to new high, while piped and shipped gas imports jump nearly 32%.
One dollar 'bribe' lands forklift driver in Changi Prison Guilty man said to have demanded money in return for not delaying container lorry drivers.
There is still volatility ahead - but that is not such a bad thing Slower growth and higher interest rates suggest the world's economy will face a bumpy year ahead, writes Alexandre Tavazzi, global strategist at Pictet Wealth Management
Chinese shipowner joins converts to LPG fuelling Seven VLGCs for Tianjin Southwest Maritime are now set to blaze trail with fuel choice, as others consider making the switch
Safety failings contributed to Haizhou Shipyard's decline Fatal accidents said to have played a part in once-thriving repairer's financial woes
Exclusions for $200 billion in China tariffs on hold U.S. Trade Representative Robert Lighthizer indicated in a letter that ongoing trade talks will play a role in whether the Trump administration eventually will establish an exclusion process.
Maersk to use Avantida platform for street turns The carrier will use the Belgium-based service to approve the triangulation of containers in the United States and Canada.
Commentary: Rotterdam's weighty role in supply chains The Port of Rotterdam, which ranks 10th worldwide in terms of total throughput, can transport goods to a consumer base of about 40 million people.
USTR starts furloughs amid government shutdown "Excepted personnel will ensure USTR continues to conduct operations, including trade negotiations and enforcement."
NEWS FLASH - Teamsters: Supreme Court decision 'great victory' for drivers The union says truck drivers will be prevented from waiting their rights through private arbitration agreements; the decision may spark class action lawsuits against owner-operator fleets.
FUTURES: Rising equities, tighter supply outlook push crude higher Crude futures settled higher Tuesday as the market traced equities higher against a backdrop of an increasingly bullish macro-supply picture.
Hafnia, BW Tankers merger operationalizes; eyes higher demand "All the core elements are in place," Andreas Sohmen-Pao, chairman of the merged company said at an industry event.
Bunker operations in Malta restart as weather conditions improve: port authority Bunker operations in Malta restarted late Tuesday morning, after weather conditions improved.
FUTURES: Oil maintains uptrend on expected crude draws Early movers had mostly headed into green, paring back losses from Monday's worry over China's trade performance, a market strategist at IG said.
External: Global Risk Management
IMO 2020 set to curb container capacity as ships scrapped, retrofitted: Drewry Drewry also said that the supply-demand balance will benefit from a reduced appetite for ULCVs among the major carriers.
SINGAPORE DATA: Dec bunker fuel sales rise 0.3% on year to 4.31 mil mt LSMGO posted a record high monthly volume of 190,800 mt for 2018, surging 35.8% month on month.
Japan banks set to resume Iran oil transactions after regulatory clearance: sources The Japanese banks will be able to issue letters of credit for relevant deals after clearance from Japanese and US regulatory authorities, a source said.
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