USS Boxer downs Iranian drone As tensions in the Strait of Hormuz ratchet up, an American warship has downed an Iranian drone that got too close. Chief Pentagon spokesperson Jonathan Hoffman released this statement. At approximately 10
IRGC seizes tanker said to have been smuggling fuel Iran's Islamic Revolution Guards Corps (IRGC) has released video of its recent capture of a foreign tanker said to have been smuggling one million liters of Iranian fuel near the Strait of
Wärtsilä's Chief Digital Officer resigns Wärtsilä reports that Marco Ryan, its Chief Digital Officer & Executive Vice President, and a member of the Board of Management has resigned from the company with immediate effect. According to today's
Quark picks more striking paint job for polar ship Seattle, Wash., headquartered Quark Expeditions has released new renderings of its 200 passenger polar expedition ship, Ultramarine, which will set sail in the Antarctic 2020/21 season. Under construction at Croatia's Brodosplit shipyard,
DNV GL offers web-based IMO 2020 SIP app DNV GL says that preparation is key as the days count down to the entry into force of the IMO 2020 0.5% sulfur cap. To help with implementation, the classification society is
Wallem puts its ship agency business on the cloud Wallem Group is rolling out cloud-based software to reduce paperwork and streamline workflows across its ship agency business. Simplifying the management of documentation and actions required in port calls in a unified
USCG updates Sub M work instructions The Coast Guard's Office of Commercial Vessel Compliance recently updated work instruction CVC-WI-013(3), "Towing Vessel COI Inspections under TSMS Option." Updates include but are not limited to adding annual and renewal Certificate
Sanmar to build two "Special Bogacay" 70-t bollard pull tugs Turkish shipbuilder Sanmar Shipyards has been steadily developing and refining its extensive ASD tug portfolio with 34 of its most popular type, the 24 meter Bogacay Class, now in operation around the
Any plan to extend Instex to Iranian oil won't work 'There is little or no prospect of Instex being used as a payment mechanism for the purchase of Iranian crude...
Fall in diesel demand seen changing IMO 2020 fuel mix Against the grain of mainstream opinion, it appears that gasoline and not diesel is likely to be the shipping fuel...
Seized tanker presents a dilemma for Gibraltar If third parties emerge seeking to exploit the seizure of Grace 1 as a means to obtain reparation for previous...
First LNG freight derivatives trade carried out Plans are under way to get LNG freight derivatives contracts standardised and listed on an exchange in order to facilitate...
Dionysios Dellaportas, founder of Meadway Shipping, dies at 70 Greek dry bulk owner built a modern fleet and expanded the group's activities to operating with offices in Singapore and...
MOL among rivals for Cyprus FSRU project In addition to the FSRU, the planned liquefied natural gas terminal at Vasilikos Bay, near Limassol, will entail a mooring...
DP World announces job cuts in Australia Workers at Melbourne and Sydney are to be laid off as the consolidation of container shipping reduces volumes in Australia
Iranian TV identifies seized foreign tanker as Riah Iranian state TV said a foreign vessel trying to smuggle 1m litres of fuel has been seized. 'The vessel that...
Braemar chief James Kidwell to retire James Kidwell steps down from the brokerage firm, having spent seven years as chief executive
Panalpina sees benefit of LCL hub in Cartagena Panalpina's move from Panama to Colombia has improved transit times and reduced costs
Wärtsilä sees weakening of demand in marine business New orders of both marine equipment and services dipped 2% year on year in the first six months of this...
Carriers launch new India-Europe service New service between India and Europe is designed to reduce port calls and improve efficiency
Viewpoint: Why shipping matters The Institute of Chartered Shipbrokers, with its long record of education, will be just the sort of developer we need...
Daily Briefing Diverted Iranian tanker's trading patterns raise suspicion | HSFO bunker demand to more than halve after 2020 | Oil tanker...
Shandong Marine finds partner for stranded jackup Energy Emerger is one of the four jackups ordered by Shanghai Marine at Waigaoqiao in 2014
How North Korea bypasses sanctions to import luxury goods Commercial entities involved with the smuggling of high-end goods also engage with North Korea 'in other prohibited commercial activities like...
Gibraltar's leader meets UK's May over Grace 1 tanker The statement conspicuously did not mention the potential release of the vessel
Cosco bulker runs aground in South America A Hong Kong-flagged bulker has run aground in the waters between Argentina and Uruguay. According to law firm Vega & Co., the Cosco Shipping Bulk-owned 38,801-dwt Fu Xing Hai (built 2016) has been partially obstructing the Martin Garcia Channel since Tuesday. The vessel was departing Nueva Palmira in Uruguay and destined for Rotterdam laden with roughly 40,000 tonnes of iron ore. After the grou
IMO condemns tanker attacks The organisation says the attacks pose "grave danger to life" and "serious risk to navigational safety"
Zeaborn co-founder steps down from operations Ove Meyer will stay involved with the company as managing partner of Zeaborn Holding.
Investors fight for lead position in Dynagas lawsuit Three groups want lead plaintiff status, with the trio collectively losing more than $1m
Top Ships redoubles effort to throw out Kalani case Owner seeks to bar more amendments to shareholders' complaint as DryShips and Diana Containerships lawsuits continue
Nisshin Shipping splashes $350m on dual-fuel chemical tankers Japanese shipowner books eight stainless-steel units at Nantong Xiangyu, lifting total order backlog at Far East yards to close to 60 newbuildings
BTIG backs Avance Gas to swing back to black as VLGC rates spring to life BTIG has launched coverage of John Fredriksen's Avance Gas with a buy rating amid the projection a VLGC market upturn will take the shipowner back into the black this year. LPG and tanker stocks race ahead of S&P 500 as recovery unfolds Avance Gas eyes Fredriksen-driven fleet growth and a possible US listing VLGC owner Avance Gas banks $515m refinancing package Avance Gas is one of the top per
Chemikalien moves for tanker fleet as Expedo sells final ships Christian Kramer's Chemikalien Seetransport is being linked with a swoop for four product tankers in a deal that would see seller Expedo Shipping exit the business. The deal marks a major expansion of Chemikalien's position in the LR1 sector and comes less than a year after it took over compatriot tanker specialist Rigel Schiffahrts. Brokers say Chemikalien is buying the 74,000-dwt New Challenge
Cosco tanker unit forecasts first-half profit return Cosco Shipping Energy Transportation (CSET), the tanker arm of state conglomerate China Cosco Shipping, has forecast stronger first-half results on better performances of its crude and LNG shipping divisions. Unaudited results showed net profit of the Shanghai- and Hong Kong-listed company ranged between CNY 440m ($63.9m) and CNY 500m in the opening six months of 2019, compared with net loss of 2
Peter Anker's Langebru reports solid profit jump Peter Anker's investment company Langebru had reported a solid increase in profit. Shipping a viable investment again but shipowners must face up to future challenges Key shipping players party onboard the Christian Radich The company's pre-tax profit shot up to NOK 21m ($2.46m) in 2018 from NOK 15m the prior year. The result was boosted by the sale of a portion of his shares in Clarksons
Zvezda eyes $950m icebreaker order New Russian shipyard could win order for four LNG-fuelled ships for Arctic.
Scorpio Bulkers' sale of sister company stake would be 'positive' Wall Street analysts say a sale could bolster bulk owner's undervalued stock price and allow investors to share in its 'best investment ever'
Deelen swaps camps to join Bernhard Schulte Shipmanagement Bernhard Schulte Shipmanagement has hired Jeroen Deelen from its parent group to fill the role of chief operating officer. Titan LNG completes world's largest LNG bunkering operation Deelen moves from Schutle Group's gas division, where he had been deputy COO, a statement explained. The former seafarer has been working on shore for 17 years with experience in various roles including newbuilding
SM Line sells older handysize boxships But market for larger boxships dries up as demolition prices plunge
Petrobras floats tender for suezmax shuttle tanker series CSIC Leasing has signed up four shuttle tanker newbuildings at DSIC in anticipation of Brazilian oil company's beauty contest
PGS posts a loss despite seismic market upturn The company has raised its prices as the seismic market improves, but has been impacted by the cost of finance.
Iran seizes Iraqi tanker over 'oil smuggling' Riah held by Revolutionary Guards after being towed following distress call.
Concord expands aframax pool with first Maersk Tankers ship Operation led by former Heidmar chief Ben Ognibene continues gradual growth in second year
Supramax owners cash in as sentiment turns bullish Hellenic Carriers sheds second bulker in a month, while Tomini banks asset play profits
Does Gibraltar have a big problem with Grace 1? Authorities could have uninsured tanker on their hands for 90 days.
James Kidwell reflects on Braemar Shipping Services swansong Head of London-listed shipbroker says now is a good time to do 'something different'
Iran reluctant to close down Strait of Hormuz Foreign minister says waterway is lifeline, but it has capability to shut it.
Price uncertainty slows scrubber orders at Wartsila Customers holding off on new orders as they wait for fuel price development.
Solstad Offshore CSV contract extended in the Gulf of Mexico Subtec has extended its charter of a construction support vessel (CSV) owned by Solstad Offshore by a further two and a half years. SolstadFarstad extends US Gulf charter The 142-metre CSV Far Sentinel (built 2015) will be employed in Mexico until the end of 2022. Subtec has two 12-month extension options attached to the contract. This is the second time the underwater works company has exte
Keith Denholm to join Heidmar revival in Singapore Well-travelled shipping veteran is tasked with building up tanker operator's presence in the Asian market
Bryggen Shipping sinks to a loss but eyes profitable 2019 results Bryggen Shipping International sank into a loss last year, but the chemical tanker operator expects better results in 2019. The Bergen-based private operator logged a pre-tax loss of NOK 17m ($2m) for 2018 against a NOK 3m profit in 2017. Operating revenue increased from NOK 471m to NOK 524m. Co-owner Tim Haagensen told TradeWinds there is "very good chances" that the company will deliver profi
Top Ships tapping Chinese loans to add MRs Greek tanker owner to declare purchase options on ships that have been operating on charters to Stena.
James Kidwell retiring after 17 years at Braemar Shipping Services Chief executive handing over to chairman Ron Series on an interim basis.
Nordea sees loan losses edge up Nordic lender said there were "a few significant provisions" in the second quarter.
GasLog and MOL among those shortlisted for Cyprus FSRU Sino-Greek consortium set to battle it out with Asian and European rivals for contract
Southeast Asian LNG demand to grow five-fold by 2040 Region also set to be a major market for regasification vessels, says Wood Mackenzie
Gibraltar chief minister discusses Grace 1 release with UK PM Britain said to be under pressure from some European and Gulf allies to release VLCC
Calls for Oakland ballpark strikeout Critics of the proposed location for an Oakland Athletics baseball stadium point to a study that says the Howard Terminal site will be needed for cargo.
FMC keeps tabs on low-sulfur fuel surcharges The Federal Maritime Commission will monitor the transparency of bunker-adjustment factor formulas as the IMO low-sulfur fuel mandate looms, Chairman Michael Khouri said.
'Missed opportunity' at G20 summit A multilateral steel group mandate was not renewed in Japan, says the deputy director of the National Economic Council during a think tank discussion Wednesday.
Will IMO 2020 change US ports of call? A fuel spike could push Asian containers to West Coast ports, but time and risk elements also must be considered.
Exporting from Bhutan - by water? Tiny landlocked kingdom on the eastern edge of the Himalayas moves aggregate via the Brahmaputra River.
Turkey's missile purchase draws fire Calls for the Trump administration to impose trade sanctions against Turkey for its recent purchase of a Russian-made surface-to-air missile system are becoming louder from Capitol Hill.
Salalah Free Zone inks deal for new 150,000 b/d Oman refinery Salalah is an important bunkering hub in the Middle East, alongside Fujairah in the UAE, and the largest port in Oman.
IMO 2020 TRACKER: Weakening global refining demand may offset strong margins for cleaner fuel Refiners and analysts see stronger refining margins resulting from the International Maritime Organization's impending requirement that ships use lower-sulfur bunker fuel, but waning global demand for crude and refined products could more than offset that optimism.
FEATURE: European distillate market remains uncertain ahead of IMO 2020 amid tight stocks Market participants are unsure how the IMO 2020 0.5% marine fuel sulfur cap will play out in the distillates market, with some questioning the ability of refiners to respond to demand amid persistent uncertainty around the mix fuels ship that owners will use to meet the cap.
External: Global Risk Management
Singapore 10 ppm gasoil differential jumps to 8-month high on snug supply The strength in Asia has closed East -West arbitrage opportunities and attracted flows from India and the Middle East, sources said.
FEATURE: Canadian oil traders see IMO 2020 risk easing on demand, changing market Some early reports on IMO 2020 said the new standard would significantly devalue WCS.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
