Jotun in MOU with HHI on solvent-free prime Sandefjord, Norway, based coatings manufacturer Jotun has signed a memorandum of understanding (MOU) with the world's largest shipbuilder, South Korea's Hyundai Heavy Industries. It covers the use of a new type of
VIDEO: Fincantieri Marinette Marine launches LCS 21 The future USS Minneapolis-Saint Paul (LCS 21) splashed into the Menominee River today in a spectacular side launch at the Fincantieri Marinette Marine Shipyard, Marinette, Wis. Ship sponsor Jodi J. Greene, Deputy
Boskalis to salvage both tankers hit in Strait of Hormuz attacks Royal Boskalis Westminster N.V. reports that it has been appointed as the salvor for both tankers that were attacked yesterday morning in the Gulf of Oman. Shortly after the incidents the insurers
What tariffs? Box volume up at Port of Oakland Turning trade war logic on its head, containerized export volume at the Port of Oakland spiked last month. Exports, primarily to Asia, were up 8.4 percent compared to May 2018 totals. Imports
BMT designs U.S. CTVs with whales in mind The two BMT-designed Crew Transfer Vessels (CTVs) being built to service Ørsted U.S. offshore wind projects will have some significant differences from similar vessels built for the European market. As we reported
HullWiper hull cleaning now available in Mauritius Underwater hull cleaning specialist HullWiper Ltd has launched its first East African hull cleaning solution in partnership with Immersub of Mauritius. HullWiper's patented remotely operated vehicle (ROV) hull cleaning system uses adjustable
Matt Binsfeld named WEDA Dredger of the Year Matt Binsfeld, president and CEO of La Crosse, Wis., headquartered J.F. Brennan Company, Inc. was named the 2019 Dredger of the Year on June 6th at the 2019 WEDA Dredging Summit and
VIDEO: Iranians remove unexploded limpet mine from tanker More details are now emerging on yesterday's attacks on two tankers in the Strait of Hormuz. It now seems certain that the explosions were caused by limpet mines. Yesterday, U.S. Secretary of
Study indicates scrubber wash water has little impact in ports The Clean Shipping Alliance (CSA) 2020 says that the preliminary results of an independent study indicate that accumulated concentrations of residues from exhaust gas scrubber wash water are at very low levels
GasLog Partners lands charter from Gunvor Sole spot-trading vessel in fleet of 15 LNG carriers will go on three-and-a-half-year charter this month
Diana sells ageing panamax The US-listed company has launched a self-tender offer to purchase as many as 2m shares
MSI cautious on dry bulk outlook London-based consultant expects capesize earnings to average $13,600 per day in August and $15,100 per day in November
The Lloyd's List Podcast: The tanker sector is now on a war footing Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Hapag-Lloyd uses new credit facility to pay off senior notes German container line shuffles old debt for new in effort to reduce costs
From the News Desk: Risk and reward as tension rises Meanwhile, tramp ship owners have expressed concern to the IMO over the sulphur cap and future fuels, while the shipping...
Tanker attacks: Gulf attacks may lift tanker rates Owners are said to be halting new fixtures on vessels for trading with the Gulf as their concerns are deepening...
Brussels advised to stick or twist on block exemption rules Report recommends extending the liner competition rules, but with amendments
Warnings to shipping as Iran rejects US claims Latest: Cargo insurers can expect to face an exposure value of $40m for goods on the Kokuka Courageous and $25m...
Daily Briefing Maritime risk at 16-year high after tankers targeted again | Oil tankers 'attacked' in Gulf of Oman | Economou tables...
Iran adds another layer of tension in the stand-off over US-China LNG trade deals US exporters and Chinese importers would like to break the gridlock holding back billion-dollar liquefied natural gas deals, but these deals are being...
The Interview: Lars Rhodin His surname sounds more French than Scandinavian, and Swedish Club managing director Lars Rhodin sometimes claims to be related to...
Tanker attacks: Kokuka Courageous being towed to port There is also no loss of cargo or fuel containment on Kokuka Courageous and the crew are back on board...
Tanker attacks: Establish the facts and clarify the responsibilities in Hormuz Washington believes it has a case against Iran for the attack on two tankers in the Gulf, but has not...
Argentina may give Asian LNG importers an alternative to US Argentine production could reach 6m tpa by 2024, 10m tpa by 2030
Euronav raises $50m with tap issue A Euronav subsidiary has completed a tap issue, raising $50m. The Belgian tanker owner announced after the close Friday that its Luxembourg arm had successfully completed the move. The bonds are guaranteed by the parent, mature in 2022 and carry a coupon of 7.5%. Euronav aims for bond tap "This is a further positive step for Euronav. This transaction proves we continue to benefit from a variety
Trump: The Strait of Hormuz 'won't be closed for very long' US President Donald Trump joined the chorus of American voices blaming Iran for the suspected attack on two tankers near the Strait of Hormuz. Trump, speaking on Fox News Friday morning said the country is in "deep, deep trouble" after the US pulled out of a 2015 deal that lifted sanctions in exchange to revisions to Iran's nuclear programme. Boskalis: Front Altair situation 'still worrisome' K
Linblad Expeditions offers to exchange warrants for shares New York-based owner also looks to modify exchange ratio
Diana Shipping offers another buyback Simeon Palios-led bulker owner looks to repurchase two million shares in latest programme.
Will Fredly be able to sell newbuilding duo? Sale-and-purchase brokers in Norway are voicing scepticism that Arne Fredly's Hunter Group will be able conclude a sale of two of its two VLCC newbuildings at DSME. The doubts emerge almost a month after the Norwegian shipowner said it was close to selling two of its eight tankers that are set for delivery in 2019 and 2020. Hunter chief executive Erik Frydendal, CEO of Hunter says he cannot com
Diana Shipping sells another old panamax Diana has sold six bulkers built in the early 2000s over the past seven months.
KSS expands VLGC fleet with newbuilding order worth up to $148m South Korea's KSS Line is expanding its fleet with a newbuilding order for up to two VLGCs at Hyundai Heavy Industries (HHI). The deal involves one firm 86,000-cbm ship with an option for a second unit. The ship is set for delivery in 2021 and has a reported price tag of $74m. It is being described as a standard VLGC with scrubbers. European brokers said KSS Line has fixed out the newbuilding
NOC warns of military build-up at tanker terminal Libya's National Oil Corporation (NOC) has expressed "concern" over an increased military presence at the Ras Lanuf oil terminal. It fears the export facility is "a military objective." Libya's NOC opens office in US for $60bn push Libya said to be targeting return of VLCC loadings "These actions could result in the withdrawal of NOC personnel from the port for their safety," the oil company s
VLCC FFAs spike amid Middle Eastern tension July contract for Middle East-China route nears $25,000 per day, even though spot fixtures have largely halted as owners await insurance quotes.
Gunvor buying Commonwealth LNG over 15 years Trader Gunvor Group has agreed a 15-year deal to buy LNG from US producer Commonwealth Projects' Commonwealth LNG. Gunvor aims to take 1.5m tonnes per annum (mtpa) of LNG from an export project under development in Cameron Parish, Louisiana. Kalpesh Patel, Gunvor co-head of LNG trading, said: "The agreement with Commonwealth LNG is a significant step in executing Gunvor's overall strategy of unc
MSC secures stake in Messina Group Two years of talks conclude with liner giant taking minority stake in Italian conro specialist.
Boskalis: Front Altair situation 'still worrisome' Dutch salvor Royal Boskalis Westminster has said the situation regarding the damaged Frontline tanker Front Altair is "still worrisome." Boskalis subsidiary Smit Salvage won the contract to salvage both the 110,000-dwt Norwegian vessel (built 2016) and the 27,000-dwt BSM-managed tanker Kokuka Courageous (built 2010), both of which were hit by torpedoes or mines off Iran on Thursday. Macleod rule
Neptune Lines installs hybrid-ready scrubbers on first two of 10 ships Neptune Lines has joined the growing group of well-known Greek shipowners installing scrubbers on its vessels to comply with the IMO's 2020 sulphur cap. The car-carrier owner plans to have 10 ships fitted with hybrid-ready scrubbers by early next year, the Melina Travlos-controlled company said on its website. Installation work has already been completed on the first two vessels - the 3,800-ceu
Macleod rules out tanker fault as cause of blast Frontline has ruled out a problem with its tanker Front Altair as a cause of the explosion that set the ship ablaze in the Middle East Gulf on Thursday. Crew abandoned the 110,000-dwt LR2 (built 2016) following an apparent torpedo attack. Manager says Frontline tanker crew safe and well in Iran Frontline Management CEO Robert Hvide MacLeod told TradeWinds the company "of course will take an act
ITF and JNG call for more shipping protection in Gulf The ITF union and the Joint Negotiating Group (JNG) of shipowners have united in a call for more protection for vessels in the Middle East Gulf. The two were reacting to the apparent torpedo and mine attack on Frontline and BSM tankers off Iran on Thursday that left the vessels abandoned and drifting. Manager says Frontline tanker crew safe and well in Iran US says Iran removed unexploded mine
Manager says Frontline tanker crew safe and well in Iran All 23 seafarers heading to Bandar Abbas for repatriation following attack in Gulf.
Greek shipowners dodge Brussels bullet over tonnage tax EU is understood to be dropping its challenge on Greece's tonnage tax regime but only after owners agree to pay a charge on repatriated dividends
Thomas Cooper rejected merger with shipping rivals Head of shipping Darryl Kennard explains why Penningtons Manches was the only candidate for collaboration
Onorato's Moby Group boosted by ship sales Italian ferry and ro-ro company Moby Group has revealed a big jump in first quarter EBITDA. The Vincenzo Onorato-controlled owner said a new vessel addition and expansion in the Sicilian haulage market had boosted the result. It had suffered in 2018 due to high bunker prices, but said revenue rose by 14.9% to €102.2m year-on-year, while EBITDA rose '24.6m ($27.75m) to '8.97m . The company also
Vinashin quartet jailed for fraud Four former executives at Vietnamese state shipbuilder Vinashin have been jailed for banking illegal interest payments from OceanBank. After a three-day trial, a Hanoi court sentenced former chairman Nguyen Ngoc Su to 13 years in prison for "abuse of power or position to appropriate property,", VNExpress International reported. Three to be charged over Vinashin fraud Ex-general director Truong
UK yard tycoon Yarrow leaves $975,000 in will Scottish shipyard baronet Sir Eric Yarrow left £776,000 ($975,000) in his will when he died aged 98 last year. The businessman ran family firm Yarrows through turbulent times for shipbuilding on the Clyde during the 1960s, 1970s and 1980s. Sir Eric Yarrow dies at 98 The Times reported the money was left to his family, but with some donations to be made too, not least '30,000 to his carers. He
Norway raises Gulf security level again in wake of attacks Organisation advises shipowners to keep a safe distance from Iranian waters.
Kokuka Sangyo says tanker damaged by 'flying objects', not mines or torpedoes Japanese shipowner's statement seems to refute Washington's claim that a limpet mine was attached to the ship.
Kokuka Courageous taken under tow after crew reboard vessel Japanese-owned ship headed for Khor Fakkan, where full damage assessment will be carried out
Salvage operations underway on tankers damaged by 'attacks' U.S. officials say video shows an unexploded limpet mine being removed from the Kokuka Courageous, but the president of the ship's operator said the crew reported the vessel was hit by a flying object.
BIMCO forecasts weak container shipping demand Slow growth in intra-Asia volumes seen as a harbinger for long-distance container trades in peak season.
Trucking stakeholders want better conditions, safety Witnesses offered the House Highway and Transit differing views on a wide array of trucking priorities as Congress faces reauthorization of surface transportation legislation.
Over 650 companies urge Trump to end China dispute The letter, organized by Tariffs Hurt the Heartland, said additional tariffs would result in the loss of 2 million American jobs and reduce the value of the GDP by 1%.
Kudlow: Trade war will hurt China more than US The National Economic Council director said during an event in Washington on Thursday that the ongoing bilateral tit for tat will have minimal economic impacts on U.S. consumers.
TOTE's Greene recognized for lifetime of achievement
Berthold fined for misrepresenting radioactive packaging
Port of Oakland customers 'defied conventional wisdom'
Saudi appetite for fuel oil term deals, swaps jumps ahead of summer: sources Saudi Arabia has locked in more contractual fuel oil imports in 2019 after a strong buying spree on the spot market last summer, the sources say.
INTERVIEW: US oil supply keeping lid on prices despite global risks: IEA chief "There is substantial amount of oil coming from the United States, which puts a strong ceiling on oil prices," Birol said in an interview Friday on the sidelines of the G20 energy ministerial meetings in Karuizawa, Japan.
External: Praxis Energy Agents DMCC
LNG bunkering to gain momentum as IMO 2020 compliance option: Shell exec "In the last year alone, the number of LNG bunker vessels globally has doubled," Potter said.
Asian companies start using 0.5% marine fuel as benchmark pricing "We are not sure how the others will bid for these cargoes, but we are in a position to bid at a differential to Marine Fuel 0.5%," a trader said.
Shipowners hold back from taking bookings for Middle East cargoes "There is too much steam today and many owners are not ready for calling Persian Gulf ports today," a charterer in Singapore said.
VLGC rates jump to near 4-year peak on Middle East flows, Persian Gulf tension "Most traders have re-programmed their vessels that were previously marketed as re-lets." a ship broker said.
External: Global Risk Management
Port of Singapore updates its guidance on IMO 2020 "Our inspectors will also be equipped with portable sulfur kits for on site testing of in-use fuel," MPA Chief Executive said.
FUTURES: Oil rises amid growing tensions in Middle East "A surge in supply concerns drove pricing levels up after reports surfaced on two tanker attacks in the Persian Gulf," Lu said.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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