ABS updates BWMS Best Practices report ABS has published an updated "Best Practices for Operation of Ballast Water Management (BWM) Systems Report," offering fresh insight on best practices to overcome key challenges with selecting, installing and operating a
Svitzer Americas escort tug is first with all-female crew In what's almost certainly a world first, Maersk subsidiary Svitzer has hired an all-female crew for the 70 tons bollard pull escort tug Svitzer Monte Cristi, one of two 24 m RAmparts
Sixteen Stena Bulk tankers to get scrubbers Gothenburg, Sweden, headquartered tanker operator Stena Bulk is to install exhaust gas scrubbers on 16 ships before the January 2020 IMO sulfur cap deadline. In all, ten IMOIIMAX tankers, five Suezmaxes and
Furuno electronics help newbuild Kirby towboat meet Sub M regs MV Bailey, the first of three new 88 ft towboats built to meet Subchapter M requirements was recently completed by the Main Iron Works shipyard in Houma, La., and will soon enter
Anthony Veder to add 30,000 cu.m LNG carrier to fleet Rotterdam headquartered Anthony Veder is expanding its by adding a 30,000 cu.m liquefied natural gas (LNG) carrier that is currently being constructed by Zhejiang Xinle Shipbuilding in Ningbo, China. The vessel will
Woodside Energy tenders for LNG bunkering vessel Australia's largest LNG producer, Woodside Energy, is tendering for an LNG bunkering vessel. Speaking at the Australasian Oil & Gas Exhibition & Conference in Perth last week, Chief Operations Officer Meg O'Neill
ExxonMobil to start sales of IMO 2020 fuels in third quarter ExxonMobil is to start rolling out its range of IMO 2020 compliant fuels by the third quarter of this year. In October last year the company announced that ports in Antwerp, Rotterdam,
US sanctions Russian shipyards Yaroslavsky Shipbuilding Plant and Zelenodolsk Shipyard Plant added to sanctions list for navy business
UK may face ferry deal compensation bill over any Brexit delay Contract with third company saw transport secretary subjected to widespread ridicule when it emerged that start-up had no ships and...
Globus Maritime feels 'downward pressure' Globus optimistic that dry market rebound is 'not too far off'
Spain backs Mediterranean emissions control area Spain favours an emissions control area in the Mediterranean but warns against a unilateral move by the European Union
Stena Bulk to install scrubbers on 16 tankers Stena Bulk has secured the payback time on its 16 scrubber installations by hedging the spread in fuel prices
Navig8 in sale and leaseback deals with ICBC The latest deal with ICBC is worth $94m
Dr Peters says it is continuing to offer shipping investments Company says 'we have been exchanging ideas with other companies for years'
Fuel and technology dominate box shipping conversation Box carriers and their customers face tough negotiations this year about who will foot the bill for the IMO 2020...
Vale ordered to close another mine in Brazil Vale has been ordered to halt operations at the Timbopeba mine in the Minas Gerais region, with an expected loss...
Cosco's 25,000 teu ship plan faces commercial challenges Fate of a 25,000 teu ship will largely depend on how much the long-haul trade can hold up and how...
US customs preparing for changing trade environment The six themes of the 21st Century Customs Framework initiative include 'Emerging roles in the global supply chain', 'Intelligent enforcement' and...
Indian Register signs 33-ship emergency response deal with SCI The deal involves round-the-clock technical support by way of assessing damage to any vessel involved in a major incident such...
TEN charters out two LNG ships With two vessels fixed on accretive medium-term charters, the company is examining further expansion in the sector
Sulphur cap could spur transhipment and slow steaming The extent of either practice will hinge on how successful carriers are in recouping fuel costs from shippers, according to...
Shell-led joint venture mulls doubling LNG Canada export capacity LNG Canada's chief executive Andy Calitz says the second expansion phase being considered by the JV is 'a very competitive export...
Transpacific rate misery marches on Transpacific carriers could restrict capacity additions altogether in an attempt to balance the market, analysts suggest
Caribbean aframax market suffers from lack of Venezuelan cargoes India could be willing to cut all imports of Venezuelan crude to satisfy US sanctions in return for further waivers...
ICTSI upgrades PNG terminal The $4.6m rubber-tyred gantry cranes are part of ICTSI's programme to strengthen and enhance overall operational efficiency at PNG's leading...
Sovcomflot positive on tanker market outlook Sovcomflot is committed to growing its industrial businesses, which will be central to its strategies through to 2025, its chief...
Baltimore beats Philadelphia for promising new exports of Brazilian wood pulp Philadelphia took the Brazilian market share from Baltimore in 2014 when when Fibria Cellulose changed destinations
Woodside to build Australian LNG bunker capacity Woodside's chief operations officer Meg O'Neill says talks have been ongoing with big miners to refuel ships plying Western Australia-Asia trade routes...
Venture Global doubles LNG production capacity target Venture Global's Calcasieu Pass project won US Department of Energy approval to export LNG to non-free trade agreement countries and...
Port of Tacoma joins the competition with four new ZPMC cranes The new cranes will stretch across 24 containers and reach a lift height of 165 feet above the pier deck...
Global Ship Lease extends Hapag-Lloyd fix for post-panamax ship Ian Webber-led boxship owner to continue contract for three more years.
$900m in shipping value tied up in Oaktree deal Owners have heard little to date on Oaktree's sale of majority stake to Brookfield, but expecting little to change in near term.
Feidakis sells another $3.6m of Nasdaq's Globus Maritime stock Chairman drops one-third of his holdings in the Nasdaq-listed bulker owner.
Transocean nets millions from panamax bulker flip The shipowner has netted around $9m in profit through the sale of two bulk carriers over the past year
EGA extends Maersk shipping deal Abu Dhabi's Emirates Global Aluminium (EGA) has signed an extension to its shipping deal with Maersk Line. The volume commitment secures capacity for 2019. Walid Al Attar, EGA's chief marketing officer, said: "Meeting our customers' expectations depends on both the quality of our production and the efficiency of getting the metal to them, so I am pleased to sign this agreement today with one of
BigLift, Chung Yang pair up for energy for LNG, gas, oil and renewables Both owners pony up two heavy lift ships each for LNG, oil, gas and renewable markets.
Hadjiyiannis buoys boxship fleet with Patjens panamax Interests tied to Greek-Cypriot shipowner Andreas Hadjiyiannis have acquired their fourth containership since October, bringing the group's boxship fleet to more than 10 units. Online shipping directories show the 5,040-teu, mini-panamax boxship Herma P (built 2006) as trading in the fleet of Hadjiyiannis company Cyprus Sea Lines under its new name, City of Alexandria. Hellenic Tankers completes
Navios closes offer for one set of preferred shares, adjusts other Navios Maritime Holdings will pay $4.2m in cash to buy out a slice of 1.1 million shares of one series of preferred stock while sweetening the pot to purchase another. The Angeliki Frangou-led bulker owner announced the results and changes to the tender offer, currently the subject of a shareholder lawsuit, on Monday. Navios moves to throw out shareholder lawsuit Navios revising preferred share
Two Russian yards on new US sanctions list Two Russian shipyards have been placed on a new US sanctions list. The action was taken against Yaroslavsky and Zelenodolsk by the Office of Foreign Assets Control (OFAC) in response to Russia's continued and ongoing aggression in Ukraine, it said. OFAC added the yards had played a role in Russia's "unjustified attacks on Ukrainian naval vessels in the Kerch Strait, the purported annexation of C
HSBC to sell Katerina Xylas' property over newbuilding loans Bank goes after shipowner's Athens apartment to enforce $2.1m court judgment
Kistefos cranks up earnings to $209m Christen Sveaas' shipping investment company Kistefos has racked up bigger earnings in 2018 as ship sales boosted the result. The company said it made NOK 1.78bn ($209m) on a net basis last year, up from NOK 341.1m in 2017. Revenue grew to NOK 14.37bn from NOK 9.37bn, mainly due to gains from Viking Supply Ships selling vessels, as well as higher rate levels and activity in Western Bulk. Kistef
Costamare containership brace set for demolition sales Greek shipowner Costamare is believed to be in the process of scrapping two of its oldest vessels. Costamare clocks up stronger than forecast profit Sales would mark the latest step in an ongoing fleet renewal process for New York-listed Costamare, which has sold four ships for demolition in each of the last two years. Market sources say Costamare is exploring the demolition sale of the 5,000-t
Stena Bulk firms up $55m scrubber plan Swedish owner Stena Bulk has firmed up plans to install scrubbers on 16 tankers. The company said the "major investment" will costs $55m and the work will take place before the IMO 2020 January deadline. The shipowner had revealed a plan last year to fit the open-loop hybrid systems to 15 ships, with options for six more. Now it has decided to retrofit 10 IMOIIMAXes, five suezmaxes and a standa
KfW inks Royal Arctic newbuilding finance deal German lender KfW IPEX-Bank is providing more cash for the expansion of Royal Arctic Line's (RAL) fleet. The bank said it will loan EUR 16.43m ($18.65m) towards the Greenland company's two new feederships due from the Nodosa yard in Spain in 2020 and 2021. Royal Arctic Line inks newbuilding pair at Nodosa Shipyard The order has a high proportion of German components, it said. KfW is working wi
Shipowner Sovcomflot seeks to follow Russian state back to investment grade Shipping heavyweight Sovcomflot is looking to follow the Russian state back into investment grade territory, its chief financial officer says. Moody's dialed Russia back up to investment grade in February this year and the state-backed shipowner aims to follow suit in the medium-term, Nikolay Kolesnikov tells TradeWinds. Tanker rate spike pushes Sovcomflot back to profit in fourth quarter Sovco
Soren Greve heads back to Fearnleys as global S&P chief Veteran shipbroker Soren Greve is returning to leading Norwegian shipbroking firm Fearnleys as global head of sale and purchase. S&P chief Skarsgard quits Fearnleys for top job at bulker owner Belships He replaces the highly-regarded Lars Christian Skarsgard, who was named as the new chief executive of Belships in late February. Greve comes from a position as chief executive of compatriot Nor
Vitol boosts tanker fleet with Sargeant deal Trader and owner Vitol is shaking up its tanker operations by taking full control of a joint asphalt shipping venture set up with Sargeant Marine of the US. It said it had agreed to acquire Sargeant's 50% share of the UK-based VALT operation, which was formed in 2016. Vitol, Union Maritime move more MRs to LSC Vitol's Latvian Shipping to add 12 tankers This will make it 100%-owned and allow it
IMO 2020 could slow down boxships Boxship owners could slow-steam more ships and carry out more transhipment to combat higher costs from IMO 2020 regulation, according to shipping consultancy Drewry. The company said that lines' actions will depend on how successful they are at implementing fuel surcharges. "One potential side-effect from the new regulations could be greater slow-steaming and use of transhipment," it added. "Th
Shandong Shipping steps up to order tankers for major Shell newbuilding project Chinese owner has entered the arena after ICBC Leasing dropped out of an ownership role in Shell's Project Solar
Evangelos Marinakis marks S&P scorecard with profitable aframax tanker flip Greek shipowner Evangelos Marinakis looks to have executed a swift and successful asset plan on an aframax tanker bought as part of a significant dive into the sector just six months ago. Marinakis continues to harvest profit on counter-cyclical capesize asset play Marinakis raises funds for eight-VLCC project Marinakis and Union Maritime splitting BP Shipping aframaxes The profitable flip of
Greek tanker holed on rocks A small Greek tanker has reportedly suffered a hull breach after grounding on rocks off Andros on Saturday. The Kathimerini daily reported that the 985-dwt Agios Georgios I (built 1986) got stuck with 1,000 cbm of fuel on board. No pollution or water ingress has so far been reported. The hole in its side is reported to be just 15cm by 4cm, according to the ANA-MPA news agency. No injuries were
Svitzer hails first all-female crew Tug operator Svitzer has hailed a milestone in Latin America by introducing its first all-female crew. The move in the Dominican Republic is part of its gender inclusion strategy. The crew is operating the 70-ton Svitzer Monte Cristi in Rio Haina and Caucedo. Celebrity Cruises' Captain McCue demands respect "Many things that we presume to be done through physical force, in reality, only requir
Greek and Korean shipowners push capesize scrapping into double figures for 2019 Greek and South Korean shipowners have led the way as capesize scrapping activity moved into double figures following an active start to this year. Capesize freefall hits the brakes as oversupply for iron ore is tempered Vale dam disaster demand impact sees Cleaves slice capesize rate forecasts In a pressurized demolition market, cash buyer GMS says over 10 capesize bulkers have now been sent t
Amoretti Armatori orders Chinese tanker double Italian group Amoretti Armatori has inked a double tanker order in China. Brokers said the company's Marittima Emiliana unit has signed up for the 4,500-dwt ships at Ningbo Xinle Shipbuilding. They will be delivered in 2020 for an undisclosed price. The owner confirmed the deal to TradeWinds. Advisor Marialaura Dell'Abate said: "Our company is pursuing a rejuvenation strategy of the fleet and
Euronav adds to share buyback total Belgian tanker owner Euronav has bought more of its own stock in deals worth about EUR 1.57m ($1.78m). It added 226,372 of its own shares through trades on Euronext Brussels earlier this month, paying between EUR 6.8 and EUR 6.9 per share. The stock closed up 0.86% at EUR 7.06 on Monday morning. Euronav started buying shares in December and has now acquired 2.67m, bringing its total ownership t
Ishikazi picks Naikai for fleet renewal Japan's Ishizaki Kisen has opted for a domestic yard to renew its ferry fleet. Brokers said it has ordered two 300-passenger ro-paxes at Naikai Zosen Setoda. Both will be delivered in January 2021. No price was given for the order. The owner has five ferries built in the 1980s and 1990s.
Iran fights off suezmax attack Iranian navy ships have thwarted a pirate attack on a suezmax in the Bab-el-Mandeb strait off Yemen. The unnamed laden vessel was approached by about 10 speedboats last, the Sputnik news agency said. The navy had sent its 61st group, consisting of the Sabalan frigate and the Bandar Abbas logistical support ship, to the area, according to South Fleet commander rear admiral Afshin Tashak. "The na
Tsakos Energy Navigation fixes out its two LNG carriers Greek owner reluctant to disclose identity of charter counterparties in deals set to net $60m
Navig8 Chemical agrees sale and leaseback deal with ICBC OTC-listed company taps Chinese firms for second such deal in less than three months
Oldendorff takes Castor Maritime panamax on charter Petros Panagiotidis-led owner set to earn a minimum of $1.6m from fixture to German giant.
China may need to double SPR to meet 90-day goal Tankers to benefit as oil imports will continue to grow at mid-high single digits, says Bernstein.
Source: Tariffs could depend on China's concessions U.S. tariff levels on China will apparently depend on how far China is willing to go in agreeing to Trump administration requests for trade enforcement and other priorities, said a source familiar with bilateral talks, as the countries remain engaged in talks to resolve an ongoing trade war.
Drewry foresees more slow steaming and transshipment Drewry says container carriers may try to mitigate the rising cost of fuel by slowing ship speeds and relying more on feeder ships.
NVOs face ISF-5 enforcement Customs and Border Protection will begin accessing liquidated damages against non-vessel-operating common carriers that fail to timely and completely file their Importer Security Filings.
NNPC invites bids for 2019-20 crude-for-products supply program Nigerian National Petroleum Corp. has invited bids from trading houses and refineries that will lift Nigerian crude in return for refined products for a one-year period starting this summer under the company's direct sale and direct purchase (DSDP) program, according to tenders published Monday.
Houston area petrochemical tank farm fire engulfs eight tanks A fire that ignited at Intercontinental Terminals Company's petrochemical tank farm along the Houston Ship Channel on Sunday has spread to eight tanks and efforts to prevent an explosion were ongoing, the company said Monday.
US crude stocks likely built last week amid refinery doldrums: analysts US crude supply likely edged higher last week as refinery utilization lingered well under historic levels, an S&P Global Platts analysis showed Monday.
Spain backs Mediterranean ECA zone for bunker fuel Spain has thrown its weight behind creating an Emission Control Area (ECA) in the Mediterranean, meaning ships sailing through the area must burn marine fuel containing no more than 0.1% sulfur.
Fire impacts operations at key oil products storage facility in Texas Operations at the Deer Park tank farm operated by Intercontinental Terminal Company in Texas, United Sates, have been impacted due to a fire at tanks containing refined and petrochemical products, the company said Monday.
External: Global Risk Management
FUTURES: Crude prices slip ahead of the OPEC/non-OPEC meet Monday Elsewhere, Venezuela's worsening crisis, including power outages crippling its oil sector, presented a likely challenge to the oil market.
Iran, Venezuela sanctions impacts not dire enough to justify easing OPEC oil cuts: Falih The market overall remains supplied with Venezuelan barrels, Falih 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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