Spotlight on cargo inaccuracies after spate of incidents Change in behaviour and mentality might take a decade, says UK-based insurer TT Club
Maersk said to be close to sale of Hamburg Süd's bulker and tanker unit Lloyd's List understands that an official announcement is imminent
Ocean Alliance extended to 2027 Executives from all three liner operators signed off on the alliance extension in Hainan, China, on Thursday
Greece hails continued growth of maritime industry The Greek government claims that European shipping contributes almost $64bn to the EU's annual GDP and 190,000 jobs to Greece
France activates ports plan for 'hard' Brexit Funding provided to French ports includes the employment of an extra 600 government officials and the drafting in of extra...
Cosco and PSA add berths in Singapore Cosco-PSA Terminal handled 3.2m teu of containers last year, accounting for about 8.8% of the total in the Port of...
Sembcorp Marine readies technical kit for green shipping needs Group to gain full control of subsidiary holding patents for green shipping technology through the transaction
Viewpoint: Pirates' progress A lethal form of piracy that threatens extreme violence against seafarers, rather than the seizure of ships, is becoming commonplace...
Daily Briefing Fuel testing promises positive 2020 fuel quality | P&I Clubs issue North Korea sanctions 'reminder' amid increased surveillance on shipping...
Fears of an LNG bunkering demand spike pre-2020 could be misplaced Installing LNG propulsion during the construction of a new vessel is far cheaper than retrofitting an existing vessel, the study...
IBM announces new blockchain initiatives for supply chain transparency It is not just about securing supplies of minerals these days, it is about securing them in a transparently ethical...
Oman Shipping confirms VLCC order Diversified owner confirms deal for two eco tankers on social media.
ExxonMobil seeks newbuild pair amid flurry of MR orders Hyundai Mipo Dockyard said to be the only yard in talks with US oil major for the two product carriers
Sinokor and Oman Shipping snatch VLCC slots at DSME South Korean shipbuilder nets up to eight ships in first month of 2019
Video: Royal Caribbean bans man for jumping 11 storeys from world's largest cruiseship Needless to say, the incident involved alcohol.
Inventory highs set to boost VLGC market, says Kepler Cheuvreux A two-year high in US LPG inventories bodes well for VLGC rates and is a buying signal for investors, according to Kepler Cheuvreux. BW Group extends run of BW LPG share purchases Analysts Petter Haugen and Vetle Johansen say the 8.4m barrels stored equate to 17 VLGC cargoes, which they describe as high for this time of the year. "This is very much what we have been waiting for as it underlines
DSD puts two more vessels into Teekay Tankers' aframax fleet Pair to move after coming off long-term bareboat charters to AET
MPC Container Ships launches $10m share buyback scheme MPC Container Ships' board of directors has been authorised to buy back up to 10% of the company's shares for just under $10m. The board may repurchase a maximum of 8,425,300 shares worth up to NOK 84,253,000 ($9.8m) on the Oslo Stock Exchange, where MPC is listed. MPC will pay not less than NOK 10 and no more than NOK 200 for each share, according to details released today. MPCC launches bid
Torm extends renewal effort with sale of fourth tanker Danish shipowner Torm has sold its fourth veteran vessel in as many months, brokers say. Copenhagen and US listed Torm has offloaded the 35,000-dwt Torm Charente (built 2001), European shipbrokers believe. Torm sells trio of tankers in latest renewal move An as yet unidentified Indonesian shipowner is believd to have paid in the region of $6.5m for the Daedong-built tanker. Torm, which is taki
Russia aims for self-sufficiency with USC propulsion move Russia's state United Shipbuilding Corporation (USC) is plotting a move into the ship propulsion sector. It will build a plant called USC-Propulsion this year to produce systems for vessels, a spokesperson told the Prime news agency. The idea is to completely replace imports, covering all Russian demand. "In 2019, USC wants to create a centre of product specialisation in partnership with produc
Greek shipping brings in $16bn as fleet grows Foreign exchange cashflow into Greece from shipping hit EUR 13.7bn ($15.6bn) in the first nine months of 2018. This is up 14% from 2017, the shipping ministry said. The number of active shipping companies operating in Greece reached 1,401 in the period, up from 1,387 the year before, the Athens News Agency cited the ministry's report as saying. The number of ships under management stood at 4,45
China boasts Belt and Road achievements amid trade tension with US Officials figures show China increased investments in the Belt and Road Initiative countries while boosting trades with them last year.
Fairfax stake in Seaspan hits 47.5% Seaspan shareholder Fairfax Financial Holdings has revealed its stake has increased to 47.5%. The holding is worth $961m as it executed a warrant agreement. It now has 102.6m shares. Fairfax closes second round of $1bn Seaspan investment The deal this week closed the second tranche of its $1bn investment. Fairfax bought $250m of senior notes and warrants which were immediately exercised to dou
Euronav included in Bloomberg Gender-Equality Index for second year A survey by Bloomberg has found Euronav is among the world's "best-in-class" gender-equal workplaces
Diamond S Shipping linked to long-term suezmax business Speculation surrounds potential time charter business for two modern suezmax tankers owned by Diamond S Shipping. Some brokers believe two scrubber-fitted vessels owned by the soon to be public company have been chartered to Mercuria Energy Group for three years. Tanker deals on the rise during active 2018 Stevenson expects Diamond S private investors to hold firm They believe the charterer wi
Ocean Alliance extends boxship deal to 2027 The Ocean Alliance of boxship lines has extended its cooperation until 2027. The self-styled largest operational agreement between shipping companies was formed in 2017 for a five-year period, with a five-year option to prolong this. CMA CGM, Cosco, OOCL and Evergreen said the confirmation of the 10-year period only two years after launching "reflects the trust and high-quality working relations
Lukoil warns of fake letters offering fuel Russian oil giant Lukoil has warned customers to be aware of false sale offers appearing to come from the company. It said fake "commercial offers" to buy petroleum products have been contained in letters distributed on behalf of members of its board of directors. "The letters illegally bear the company's trademarks and brand identity," it added. It advised potential clients to use caution when
Pro-scrubber group's HFO safety claims exaggerated Association said reports suggested that low-sulphur diesel is a greater risk to human health, but academics say all marine fuels need to be filtered
Davos storm warning - trade and business risks may worsen Ahead of next week's Davos summit, the World Economic Forum says reduced government collaboration weakens the ability to head off a possible recession
American Club accused of aiding chairman in lawsuit Protection and indemnity club is allegedly trying to hold back documents in a court case involving George Gourdomichalis
Polsteam eyes fresh wave of bulk carrier orders Dry cargo giant emerges from Brzezicki restructuring eager to grow fleet with China contracts
Marco Polo teams up with Nam Cheong on chartering Restructured Asian OSV owners Marco Polo Marine and Nam Cheong have announced a vessel-chartering joint venture. The companies said they were forming Pelayaran New Era in Malaysia with a paid-up capital of $1,000. Marco Polo will have a minority stake of 49%. The company is "principally engaged in the chartering of vessels," it said.
ADNOC claims fleet fuel reduction of 23% ADNOC Logistics & Services (ADNOC L&S) says it has cut fuel consumption and carbon emissions by 23% across its fleet of 27 ships. The vessel-operating arm of the Abu Dhabi oil giant said the Al Daffah energy efficiency project uses digitisation to improve energy performance, including to aid route planning, improve fuel monitoring and optimise engine speed. Adnoc combines LPG and propylene shipm
AHTS rates hit $77,000 as North Sea sells out A sold-out North Sea anchor-handler (AHTS) market has seen daily rates spike beyond £60,000 ($77,000). A combination of increased rig move activity and short weather windows is responsible, according to broker Westshore. All 17 working ships in Norway have employment, while the fleet of 11 UK vessels is also busy. Repsol Sinopec has taken three units for the Stena Spey move, while Equinor fixed
BW Group extends run of BW LPG share purchases BW LPG's share price continues to flouder, despite votes of confidence from analysts and its affiliate BW Group
UPDATE: Seacor buys $46m PSV trio from Cosco yard US owner Seacor Marine has snapped up three platform supply vessel (PSV) newbuildings in China. The New York-listed company said it is paying $46m for the ships from the Cosco Zhoushan shipyard. It will fork out 30% in cash and the rest under a four-year deferred payment agreement. Half of the cash part is due in the first quarter of 2019, with the remainder being paid on each delivery. Hand-o
Nasdaq demands Hunter Maritime hold annual meeting Would-be shipowner Hunter Maritime has received a chiding from Nasdaq for its failure to hold an annual meeting. The Alexander Saverys-led blank cheque company said Thursday it received notice from the New York exchange last week letting it know it has 45 days to submit a plan for an annual meeting. Fredly buys even more Hunter The company said it intends to do so. "The notice is only a notifi
Modec picks up Euronav suezmax at stellar price Japanese offshore outfit Modec is widely believed to be the buyer of a suezmax tanker sold by Euronav this week. Euronav takes $3m hit from suezmax sale Tanker stocks a good spot amid recession talk, says Paddy Rodgers Shipbroking sources tell TradeWinds the 158,000-dwt Felicity (built 2009) was purchased by Modec at an eye-catching price of $42m. Long subjects influenced the stellar pricing,
Tanker broking pair leave Braemar ACM in Houston Two experienced tanker brokers have left Braemar ACM in Houston, the company has confirmed. Rumours around Calum Phipps and Ted Thomas departing had circulated in the market in the past few days. Braemar ACM brings in two capesize brokers from SSY Braemar ACM eyes global growth with new specialised tanker recruits James Gundy, chief executive of Braemar ACM, confirmed their exit when contacted
Four yards vie for 23-ship ferry order Indian and overseas shipyards are battling to land a $95m ferry order for Kochi Metro Rail. Domestic builder Cochin Shipyard and L&T are up against Dutch group Damen and Dubai's Grandweld to build 23 aluminium ships. German Bank KfW is providing an INR 5.76bn ($81m) loan, with state funding amounting to INR 1bn. The vessels must be ready by December as part of an INR 7.5bn transport project for
Seatrade continues switch from reefers to boxships Operator moving to containerships due to port restrictions for specialised reefers
Howe Robinson hires Turner as it takes first steps into LNG Broker unveils first key signing as it investigates new business area
Batting the IMO 2020 question back and forth That IMO 2020, eh? They're all talking about it, aren't they? But perhaps no one has ever before discussed it while being filmed playing table tennis on a quayside in "sunny" Southampton. However, ExxonMobil is proud to break new ground, with its action-packed summit now being shown on its website and YouTube. The only discernible reason for this edited reel is that the ExxonMobil-branded table
Stalwart Management steps up drive for aframax tankers Dimitris Souravlas' firm linked to rare Estoril tanker purchase
VIDEO: Cargoship crashes into dock Embed: Murueta collision A cargoship has been damaged after hitting the side in Colombia. Video footage from Wednesday morning at Barranquilla shows the 7,850-dwt Murueta (built 2012) sliding along the dock until its anchor hits a bollard and breaks in two, as port workers look on. The El Heraldo website cited the port authority as saying: "Thanks to the fact that we had all the security measur
Italy busts people-smuggling ring that invested in shipyard Italy has arrested members of a people-smuggling ring that invested the proceeds in a shipyard. The 14 Italian and Tunisian nationals are alleged to have ferried people and cigarettes on high-speed vessels from Tunisia to Sicily over the last two years, financial police said, according to the ANSA news agency. Assets worth more than EUR 3m ($3.4m) have been seized. The operation was known as Bl
Yamal LNG undertakes STS hat trick off Norway Trio of Russian ice-class gas carriers have transferred their cargoes in as many days.
Japanese report surge in December export orders Five VLCCs drive 154% increase in gross tonnage terms, but stronger yen may now hurt competitiveness.
Unipec in mini crude tanker chartering blitz Boost for tonne miles as the world's largest VLCC charterer looks to Africa for cargoes.
Star Centurion capsize could spark hardening P&I rates Partial sinking of pipelayer should shatter any ideas that shipowners might have of a soft increase in marine insurance rates when renewals roll around next month
Busch shows ambition with investment in Feen Marine Founder of the exhaust gas scrubber manufacturer to exit as new investors pledge to lift capacity amid a boom in demand
Chinese-owned Offshore Heavy shares set for forced auction China's HNA set to leave another Norwegian shipowning investment through long-delayed court auction of shares
Meiji orders four MR tankers at Hyundai Mipo Dockyard Meiji rebuilds fleet after selling two vessels last year
Grassley: Shutdown could delay trade deals The Senate Finance Committee Chairman suggested the government shutdown could delay congressional consideration of USMCA, as well as the start of U.S. trade negotiations with Japan and the European Union.
OCEAN Alliance to revise global network The new network, scheduled to launch in April, will involve the deployment of about 330 containerships with a carrying caapcity of around 3.8 million TEUs across 38 services.
'Business as usual' for air cargo Forwarders said air cargo shipments keep moving, despite the government shutdown.
SC Ports plans barge service The barge would move containers between the Wando Welch and Hugh K. Leatherman Terminal.
Port of Oakland wary over trade war after record 2018 The port handled a record amount of container volumes in 2018, but the outlook for the coming year is uncertain, according to John Driscoll, the port's maritime director.
CSX's revenues up 7% in 2018 The Class I railway posted a full-year net income of $3.31 billion on revenues of $12.25 billion.
US sanctions on Venezuelan crude could force global oil rebalance: sources The impact of the sanctions may also have unintended impacts as Venezuela redirects barrels to Asian markets in need of heavy crudes, leaving US Gulf Coast refiners to scramble for barrels from Colombia, Mexico, Iraq and other sources to fill a roughly 500,000 b/d gap.
Crude steps higher in aftermarket trading on report US may lift tariffs on China Crude futures swung into the black shortly after market settle Thursday on a report in the Wall Street Journal the US was considering lifting at least some trade tariffs on China.
LiqTech's scrubber orders jump after Singapore, China open-loop scrubber ban "The company currently has confirmed orders for more than 110 of its standardized water filtration systems," it said.
Global piracy rebounds to 3-year high as attacks around West Africa surge: IMB There is an urgent need for increased cooperation and sharing of intelligence between the Gulf of Guinea's littoral states,an IMB spokesman said
TRADER NOTE: Segar to represent Singapore's MPA at SEA\LNG Tahir Faruqui and Xavier Pfeuty have also joined as new directors representing Shell and Total Marine Fuels.
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