USS Fitzgerald is out of dry dock Naval Sea Systems Command reports that the guided-missile destroyer USS Fitzgerald (DDG 62) has taken another step toward returning to the fleet as a fully ready, combat-capable ship. The ship achieved a
Derecktor gets go ahead for Fort Pierce megayacht shipyard Family owned Derecktor Shipyards yesterday signed a long-term agreement with St. Lucie County, Fla., for the development and operation of a megayacht maintenance, repair and refit facility at the Port of Fort
USCG responds to sunken towing vessel The Coast Guard was responding to a sunken towing vessel in Pass a Loutre near Venice, La., Monday. Coast Guard Sector New Orleans watchstanders received a report at 2 a.m. that the
Damen Galati launches two for BC Ferries Damen's Galati, Romania, shipyard has launched two 81 m road ferries for Canada's BC Ferries. They are currently being fitted out and are set to enter service next year. Once operational they
Arrest warrant issued for heavy lift ship involved in incident at Ingalls The U.S. District Court for the Southern District of Mississippi has issued a warrant for the arrest of the heavy lift ship MV Hawk. The MV Hawk was at the center of
Traffic up at Port of Little Rock The Little Rock Port Authority and its stevedore, Logistics Services Inc. (LSI), announced April 17 that together, they worked 52 barges and handled just under 79,000 net tons across the port's docks
Iridium moves closer to becoming GMDSS provider Satellite communications provider Iridium Communications Inc. (NASDAQ: IRDM) is now significantly closer to providing GMDSS (Global Maritime Distress and Safety System) services. It has signed a Public Services Agreement (PSA) with the
Innovative designs from CMHI get DNV GL approval Two new designs from China Merchants Heavy Industry (CMHI) - an arctic single column drilling unit and a wind turbine shuttle - have just received Approval in Principle (AiP) from classification society
Alfa Laval LPG fuel supply system successfully completes tests The competitiveness of LPG as a fuel is increasing. Not only does LPG virtually eliminate sulfur emissions, it has a lower cost than many other fuels and is easily available worldwide. In
Navios completes sale and leaseback deal Company will have no credit facility maturities for seven years after using the funds to refinance bank debts
Marine insurance will feel pain before things get better, IUMI president says 'There can be optimism about the future, because the industry that emerges out of the other side of this process...
Sulphur cap compliance linked to HFO supplies With very low sulphur fuel oils and marine gasoil set to increasingly dominate demand, Monjasa chief operating officer Svend Stenberg Mølholt...
China's steel output to contract in 2020 China's iron ore imports fell 5.6% to 10.3m tonnes in the first two months of the year, according to BIMCO
Panama Canal opens up to larger boxships An increase in the maximum beam restriction will see containerships of up to 20 rows wide transiting the Panama Canal
The future of the OSV market rests on consolidation The decisions of owners in controlling the supply side of the equation will also be important and more scrapping is...
Shipowners weigh options over new EU ship recycling rules Some 80% of the world's recycling yards are based in Pakistan, India and Bangladesh but all are excluded from the...
MOL acquires stake in Reliance's VLECs Reliance did not disclose the value of the deal but said that the transaction was subject to regulatory approvals
Trafigura in bulk liquids tie-up The tie-up is based on the expectation that the market for petrochemicals is expected to grow significantly over the next...
East Timor closes Greater Sunrise fields deal ConocoPhillips and Woodside, which retains a significant stake in Greater Sunrise, had serious reservations about East Timor's proposal to pipe...
Zim joins Maersk's blockchain platform Israel-based line becomes third carrier to sign up for Maersk/IBM distributed ledger programme
BW Group takes dominant stake in Epic Gas BW grows stake to 82.58% but Epic shareholders refrain from granting complete takeover
Daily Briefing Tankers stars set to align by third quarter | Shipowner 'shocked' by US sanctions listing | Box lines launch Digital...
Golar LNG secures funding for two projects Among key names in lending syndicates are Singapore's Clifford Capital and China's CSSC Leasing, where yard players linked to the...
LA port commissioners take a recess from voting on automation The mayor's request for a recess was approved unanimously by the commissioners, but the vote was met with catcalls and...
European shipbuilders on digitalisation drive A number of European shipbuilders have pledged to work together to develop a new connected vessel platform called Code Kilo
Coast Guard warns mariners against marijuana use The US Coast Guard is reminding mariners that no matter the legal status of marijuana at the state level, testing positive for the drug still has consequences. In a post to its Maritime Commons blog Tuesday, staff from the Coast Guard's Suspension & Revocation National Center of Expertise reminded mariners that even though 10 states and DC have legalized the drug and many more have approved medic
ForestWave ship seized after alleged default A Park Avenue investment firm is alleging ForestWave stiffed it on ship mortgage payments and paying back cash advanced to pay its crew. The 10,049 Momentum Scan (built 2010) is currently moored in the Buffalo Bayou in Houston after ICON Agent, security agent for companies connected to New York-based ICON Capital, filed suit in Houston federal court last week and had it seized. The suit alleges
Giveans: Shipping stocks looking good in 2019 Fundamentals are driving up shipping stocks, according to Jefferies' Randy Giveans. In his Maritime Shipping Quarterly note released Wednesday, the analyst wrote that the Jefferies Shipping Index had shot up 16% since the start of 2019, despite a seasonal slowdown in the first quarter and early-year newbuilding deliveries. Wells Fargo lowers view on tanker stocks "The fundamental backdrop and o
Sovcomflot nets firm prices for trio of tankers Russian tanker giant Sovcomflot (SCF Group) looks to have banked firm prices for three elderly ships. US brokers say the SCF Altai (built 2001) has been sold to an undisclosed Greek buyer for $13.5m. VesselsValue puts the market value of the vessel at around $12.1m. The SCF Altai has been in Sovcomflot's fleet since it was purchased from Greek owner Athenian Sea Carriers for $56m in June 2001.
Avin International offloads second elderly product tanker for further trading Greek tanker company Avin International is finding trading buyers for the type of vessels it had been scrapping over the last two years. The company sold nine consecutive ships for demolition between February 2017 and November 2018. In the past few weeks, however, it has shed two ageing product tankers for further trading, suggesting there is active market interest for such ships. TradeWinds a
Smallest orderbook since 1997 has tankers set fair for 2020 The smallest tanker newbuilding orderbook this century is helping fuel expectations for a sharp spike in both rates and share prices during the next 12 months, according to Cleave Securities. New York's shipping newcomers tipped to shine among 'coiled spring' of maritime stocks International Seaways tanker in sweet spot as VLCC rates pass world scale 100 Analyst Joakim Hannisdahl says the tank
Vale mine reopening delivers 'very good news' for battered capesize market News that Vale is about to re-open its Brucutu mine has buoyed the market for forward freight agreements (FFAs), but has piled pressure on iron ore prices. The Brazilian miner has announced operations would resume at Brucutu sometime before Friday, subsequent to a court decision. Production volumes from Vale's Northern System will, however, continue to be impacted because heavy rains in March a
Intermarine veteran Andre Grikitis departs as Zeaborn buys out New Mountain Capital Intermarine's major shareholder and its former chief executive are parting company with the The Zeaborn Group eight months after a deal which created one of the world's largest MPP carriers. Zeaborn and Intermarine combine MPP, heavy-lift assets New 100-ship Zeamarine venture cleared to operate New Mountain Capital, which became the largest investor in Intermarine after the death of founder R
Avenir explains shipyard swap for small-scale LNG carriers Avenir LNG claims all parties are happy with its move to shift orders for two mini LNG carriers from Singapore-based Keppel Corp to Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering Co (SOE). Chief executive Andrew Pickering confirmed the small-scale start-up outfit had declared the two 7,500-cbm ships at Keppel, which were options on a pair of firm vessels under construction.
Songa Bulk's seismic merger is not Blystad push into offshore Arne Blystad's move into the seismic survey sector, following the merger of his Songa Bulk with Houston-based Axxis Geo Solutions, is not the start of a major drive in the offshore space. Arne Blystad moves into seismic sector with AGS merger Arne Fredly's Hunter Group plots private placement as it closes in on debt financing Deal opens up new European investors for Star Bulk Oslo-listed Songa
European political support grows for ship speed controls A powerful multinational group is forming in support of speed reduction as a method for shipping to meet its carbon emission reduction targets
Navios Maritime Acquisition seals $103m leaseback deal Navios Maritime Acquisition Corporation has struck a $100m plus refinancing package which leaves it without any debt maturing for more than a year. Navios Acquisition confident on refinancing and tanker market Navios Maritime Acquisition sells oldest VLCC to Nathalin New York-listed Navios Acquisition says the funds will come via a leaseback deal involving five of its tankers. It spans three m
Keppel exec jailed for accepting bribes A former Keppel Shipyard executive has been jailed in Singapore for accepting bribes. Senior procurement officer Neo Kian Siong, 63, banked more than SGD 740,000 ($547,000) from certain suppliers in exchange for revealing prices quoted by competitors, the Straits Times reported. Ex-Keppel execs arrested in Brazil bribery probe These suppliers were than able to submit a slightly lower quote to w
Chinese appetite for scrap steel is a stealthy threat to capesize market Forget Vale, look at China's use of scrap steel if you want a long-term view of capesize vessel demand, Bimco says.
Evergreen wins exemption for biggest ever Panama Canal transit Taiwanese line Evergreen has won an exemption to allow it to carry out the biggest boxship transit of the Panama Canal. Its 14,424-teu neo-panamax Triton (built 2016), chartered from Costamare, will pass through the waterway on 15 May. It is the first 20-row-wide containership to make the transit, Alphaliner said. The vessel is 51.2 metres wide, but at 369m long, exceeds the maximum permitted l
Equinor makes it three with Mokster charter Norwegian oil major Equinor has fixed its third platform supply vessel (PSV) on a term deal in the last two days. Simon Mokster Shipping said its 6,000-dwt Stril Pioner (built 2003) has been booked for four months firm, with three two-month options attached. The deal starts in the second quarter. No rate was reported. Mokster said: "This is very gratifying for the shipping company and especiall
Trafigura forms petrochemical trading joint venture Trader and tanker owner Trafigura Group is forming a new joint venture to trade petrochemicals. The focus will be on bulk liquid chemicals, it said. The venture has been set up with "senior executives from the petrochemical trading industry", including the current management team of Altis Group International. Altis will continue to trade from Houston, while the new Altis International (Singapor
Pirates fire shots after boarding product tanker A product tanker was boarded by armed pirates at Bonny River inner anchorage in Nigeria on Wednesday. Watch Spanish navy free hijacked ship The IMB said four attackers in a speed boat approached an unnamed vessel. Two managed to board and fired shots with automatic weapons towards the accommodation block. Nigerian naval guards on board returned fire, prompting the men to flee the deck and esca
'Adapt or die': Shipping alone not viable for analysts Most pundits have already broadened their base into gas or other transport before Seaport Global terminated shipping coverage, but some remain edgy over the negative trend
Offshore slump sees huge vessels towering over Turkish shiprecycling centre of Aliaga Rigs, heavylift ships and small containerships are keeping shiprecycler Adem Simsek busier than ever as his yard awaits for EU approval
d'Amico International Shipping banks over $48m from equity raise d'Amico International Shipping has collected almost $50m from its second equity issue in three years. Paolo d'Amico sees strong demand for scrubber-fitted newbuilding d'Amico International Shipping in $50m equity raise backed by founding family Milan-listed DIS says 97.3% of investors took up subscription rights on the offering, which is designed to strengthen the company's balance sheet. The
Mitsui OSK Lines snaps up stake in Reliance Industries VLEC series Japanese giant Mitsui OSK Lines has teamed up with a mystery investor to buy into Reliance Industries' six VLECs. Chinese buyer breathes life into VLEC newbuilding sextet First laden VLEC sails to launch new trade MOL cracks VLEC market MOL first linked up with Reliance to charter the vessels on Christmas Day 2014 while they are still under construction at Samsung Heavy Industries. Reliance t
Karadeniz snaps up EMAS Offshore anchor-handler Turkish group Karadeniz Holding has added an EMAS Offshore vessel to its fleet to support its Powership operations. MOL and Karadeniz team up on FSRUs and powerships The owner confirmed it has acquired the 220-bp anchor-handler Lewek Trogon (built 2008) for an undisclosed price. VesselsValue rates the previously laid-up ship as worth $6.5m. A Karadeniz spokesperson said the vessel would be use
Jinhui Shipping chairman raises shareholding for third time this year Siu Fai Ng, director of Jinhui Shipping and Transportation, has added to his holding in the Hong Kong-based bulker owner for the third time this year. Ng purchased 17,472 of the company's Oslo-listed shares on Tuesday at an average price of NOK 7.8778 per share or NOK 137,641 ($16,266) in total. Jinhui Shipping offers hefty payouts for two top executives Jinhui Shipping chairman raises shareho
Jan Hagemann: Shipowners have 'a once in a lifetime opportunity' Buy back debt from private equity funds now, says German financier, before it's too late
Cerberus beefs up shipping team with key hires from German market Private equity firm raids former HSH Nordbank and Peter Dohle for shipping expertise
Can Beijing boost to Chinese economy raise spirits in capesize time-charter market? Government efforts to stimulate the economy seem to be working, but other factors are creating headwinds for the dry bulk sector
More lines joining as digital shipping body debuts A new digital shipping organisation for container lines is up and running - and talks are ongoing with potential new members. Maersk Line, Hapag-Lloyd, MSC and Ocean Network Express (ONE) are the founders of the Digital Container Shipping Association (DCSA) in Amsterdam. Big five lines team up to set common digital standards to accelerate expansion Liner giants plan trade association in digital
Chief engineer killed in SCI suezmax fire A seafarer has been killed and two others injured in a blaze on a suezmax tanker in India. The fire broke out on Shipping Corp of India's 147,000-dwt Maharaja Agrasen (built 1995) near Buchar island on 13 April. Two veteran crew killed in tanker fire Chief engineer Prakash Patyal died two days later, while the other two crew remained in intensive care, the Mid-Day website reported. They have b
Watch Spanish navy free hijacked ship The Spanish navy has released a video of an operation in West Africa this week that rescued a cargoship from a pirate hijacking. The incident took place in the Gulf of Guinea. Pirates "effectively hijack" ship in Gulf of Guinea The navy said the unnamed Nigerian-flagged vessel was being held by nine gunmen. They had been on board for four days. The patrol vessel Serviola sent armed pe
Tor Olav Troim's Golar LNG nets funding for FLNG Gimi amid series of liquidity boosts Tor Olaf Troim-backed outfit also receives notice to proceed with Croatian FSRU.
Samudera finally secures release of supramax bulker Indonesian shipowner says vessel now heading to Panama hull cleaning and bunkering.
ReCAAP: Asian piracy levels sink to 13 year low Indonesian ports show improvement, but concerns expressed about growing incidents off China.
Towing vessel sinks in Mississippi River A reported 60 gallons of oil entered the water, but there was no active discharge of oil from the DeJeanne Maria, the Coast Guard said.
Americold to buy Cloverleaf for $1.24 billion The company also announced plans to invest $126 million to $136 million in automated and semiautomated expansion projects and select redevelopment at its Atlanta major market campus.
Environmental concerns in Mexico shadow USMCA House Democrats on the Ways and Means Committee worry the language of the renegotiated trade agreement lacks enforceable environmental commitments for Mexico.
Panalpina improves first-quarter profit The Swiss freight forwarding company, which is set to be acquired by DSV, reported a volume decrease in ocean forwarding.
CSX, Kansas City Southern report Q1 growth CSX reported a first-quarter record operating ratio, and KSC said it achieved its best Q1 revenue.
Third round of 301 tariff exclusions announced The Office of the U.S. Trade Representative will allow Section 301 tariff exclusions for 21 additional product types covering 348 exclusion requests.
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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