Meyer Werft delays delivery of Costa Smeralda Carnival Corporation's Costa Cruises brand has pushed back its inaugural program of Mediterranean cruises on its first LNG-fueled cruise ship, Costa Smeralda, due to construction delays at the Meyer Turku shipyard in
BAE San Diego will tandem drydock two destroyers BAE Systems has been awarded $170.7 million in contracts from the U.S. Navy to perform simultaneous maintenance and repair on two Arleigh Burke-class (DDG 51) guided-missile destroyers in its San Diego shipyard.
Incat Crowther designed Flex Ferry 33X delivered to South Africa Incat Crowther reports that the first Flex Ferry developed in conjunction with Singapore's Penguin Shipyard has now been delivered to South Africa, where it will be operated by the Robben Island Museum.
German consortium to build zero-emission push boat Construction is to start next month on what Berlin, Germany, based port and logistics specialist BEHALA says will be the world's first zero-emission push boat. The energy supply on the almost 20
NSF picks operator for third Regional Class Research Vessel A consortium co-led by the Louisiana Universities Marine Consortium (LUMCON) and the University of Southern Mississippi (USM) has been awarded a four-year National Science Foundation (NSF) cooperative agreement to operate the third
2020 sulphur cap to accelerate engine damage insurance claims Marine insurers and underwriters cite the lack of specifications for blends of very low sulphur fuel oil
Marine insurers investigate scrubber incidents amid risk-elevation concerns IUMI conference in Toronto hears of 'catastrophic' engine room fire during a scrubber installation
No need for emergency oil supply, but security is a concern, IEA chief warns Fatih Birol said the world is well supplied and is confident Saudi Arabia will meet its commitment to restore full...
Shipowners urge universal 2020 enforcement Industry bodies insist that global enforcement is required to avert an uneven playing field. 'We urge any country considering deviation...
BIMCO expects capesizes to remain profitable for the rest of 2019 Capesize fleet growth has been under 3% since February, indicating that, for the time being, the supply side is under...
Cargo insurance rates unsustainable despite premium growth, says IUMI's Dalton 'Underwriting the exposures means pricing your exposures to a risk-adequate level, and the results would indicate this hasn't happened on...
Tanker boarded and robbed off Guinea Robbers carrying guns and knives boarded the chemical and oil tanker Ance and locked crew members in the cabins before...
Igor Tonkovidov to take over from Sergey Frank at Sovcomflot Frank will become chairman, with Tonkovidov set to become chief executive after seven years as vice-president and chief operating officer
Terminal upgrade to boost northern ro-ro services The advent of a new series of larger ro-pax vessels has led to a $20m terminal investment by Peel Ports
No sign of gloom lifting for container sector Overcapacity and higher costs from IMO 2020 rules are putting the box market recovery on hold
World Shipping Council joins calls for alternative fuel research Fuel levy proposed to support funding of IMO-led future fuels research and development
Woodside and Uniper seal 13-year LNG supply deal Uniper expected to use the supply to boost its LNG trading business in the Atlantic and Pacific basins and expand...
Daily Briefing Free to read: ECSA sets out the European shipping agenda | Why maritime subsidies don't work | 2020 tanker upside...
VLGC rates firm up amid Saudi supply worries A number of shipments have been cancelled and many have deferred loadings as Saudi Arabia announced acceptances later than expected...
OOIL appoints Wang as chief executive Wang was elevated to the top management as a vice-president of Cosco Shipping in February, and became the vice-chairman of...
Pelita Samudera Shipping adds to fleet with handysize from IMC The company has expanded aggressively in the past year, boosting capacity almost eightfold to 234,000 dwt from just 31,000 dwt...
Shandong Shipping and ICBC Leasing team up on $600m newbuild projects Shandong Shipping has been quickly expanding its fleet over the past one year, with orders for 10 kamsarmaxes made earlier...
DryShips posts second-quarter net loss DryShips expects to upgrade more vessels during the rest of the year and in 2020, incurring an estimated 843 off-hire...
Avoiding the pitfalls of digitalisation Customer service should not be overlooked in the rush to digitalise and can come back to haunt companies if sufficient...
Pacific Basin to buy four bulkers in cash-and-shares deal The purchase of the two handysize and two supramax bulkers amounts to $73.84m, Hong Kong-based company says
Maritime bodies urge IMO 2020 enforcement Four major maritime organisations are calling for strict enforcement of pending IMO 2020 rules to ensure a level playing field across the entire industry. The World Shipping Council, Bimco, the Cruise Lines International Association (CLIA) and International Parcel Tankers Association (IPTA) urge full compliance. At that time, the sulphur content for bunker burnt by all ships will be limited to 0
Frontline sticks to 10 Trafigura tankers Frontline will keep to buying 10 tankers from Trafigura Marine Logistics, declining options to buy four more from the subsidiary of Singaporean trader Trafigura. John Fredriksen's Frontline last month agreed to buy 10 suezmaxes built this year for 16.1 million common shares at $8 each and a cash amount ranging from $538m to $547m. Frontline declined an extended option to buy two more suezmaxes b
Investors keen on Euronav, but scrubbers could still factor Euronav disclosed it's IMO 2020 plans, and its share price shot up - but it still trades lower than Frontline
Authorities develop plan to remove fuel from Golden Ray The salvage team for a car carrier capsized off Georgia is working on a strategy to remove all of the ship's fuel and oil as the first step to a complex, possibly months-long operation. The Hyundai Glovis-owned 7,700-ceu Golden Ray (built 2017) turned on its side on 8 September while carrying about 4,000 cars in St. Simons Sound. A "Unified Command" group of local, state and federal authorities
Classification societies 'must keep pace with impact of change on safety' Digitalisation and decarbonisation have profound implications, says ABS boss
Tanker owners reap short-term gains as Saudi storm blows over VLCC owners get rate hikes from supply disruption while resumption of normal Saudi supply would help avoid bearish effects for longer run
Shell, Qatar team up on expanding LNG infrastructure Shell Gas & Power Developments and Qatar Petroleum's Wave LNG Solutions have come together in an effort to boost worldwide LNG fuelling capacity. Both companies announced Wednesday that they will invest in marine fuelling, bunkering ships and other infrastructure but were scant on further details. "We are currently reviewing potential locations and infrastructure requirements; it would be premat
Saudi oil attacks 'not a game-changer' for tankers Evercore maintains bullish outlook on sector
Shipping technology not yet exciting Ardmore Shipping The Irish tanker owner does not think it needs big data to optimise its fleet
Attack on Saudi Arabia oil sector no longer a scenario of 'what if?' Long-feared incident is now a reality, and it will rattle cages for some time to come
Goldenport Shipmanagement buys first boxship in two years Dragnis family outfit Goldenport Shipmanagement has purchased a Japanese-controlled boxship in a deal that marks the company's first expansion in the sector since the autumn of 2017. A company executive confirmed the acquisition of the 1,700-teu Maersk Wismar (built 2010) but declined to reveal further details. Several brokers reported the Imabari Shipbuilding-constructed vessel had changed han
Storm clouds gather while shipping gets its act in order Florida and Miami - or at least shipbroking, former shipowning and prospective mega-cruise liner project executives based there - take a fair deal of the spotlight in this issue of TW+. Robert "Bob" Pierot reveals why he moved to Miami last year to pursue ship finance structuring deals, with cargo-owning clients as well as owners, that are an increasingly necessary adjunct to the New York-based f
Greek government plots $10bn backing for banks Guarantees hinge on deal with European Commission on aid classification, sources said.
VLGC rates surge on Saudi production issues Shipowners foresee positive impact from Saudi attacks on freight markets as US-Asia shipments can cover supply shortfall in Middle East
Do shipping and politics mix in Trump's Washington? What has the US industry gained from having two 'insiders' around the cabinet table?
Brookes Bell snaps up shipping consultancy APC UK marine surveying group adds to expertise with takeover.
Time come to rethink Europe's €3bn subsidies to shipping New report suggests European countries are failing to get good return from spending and need to refocus strategy
Solstad sells laid-up anchor handler Solstad Offshore has sold an elderly anchor-handler that has been laid up for over three years. Solstad Offshore buys more time for debt talks The 16,304-hp Far Saltire (built 2002) was sold by Solstad's subsidiary Farstad Marine for an undisclosed amount to an unknown buyer. VesselsValue.com estimates the ship's current market value at $940,000, the same as its estimated demolition value.
OOCL boss Wang Haimin takes over at OOIL Busy executive adds to workload after Cosco takeover of containership group.
Tsakos exec hits out at underwriters' silence over IMO 2020 Andreas Bisbas told conference insurers could have done more to help owners address issues
Utkilen touts credentials of 'new age' eco tanker series Newbuildings in China and Japan promise to cut fuel consumption by 30% and NOx emissions by 80%
Libya boosts storage at Ras Lanuf tanker terminal NOC says it has replaced tank to help prevent shutdowns, with more to come.
SwissMarine secures firm price for cape duo Brokers say Swiss owner offloads bulker pair to JP Morgan
Ship designer heads to court in Prysmian newbuilding row Salt alleges breach of contract after working on cable-layer design for Italian group.
FSU offered out for charter amid delays to Portovaya project But portside ice belt is proving a restricting factor
Vitol plots LNG carrier expansion after chartering H-Line newbuild South Korean shipowner H-Line Shipping ordered the LNG carrier it contracted this month on the back of a long-term charter to Vitol. H-Line renewing LNG carrier fleet at Hyundai Brokers said the 174,000-cbm newbuilding with XDF propulsion had been fixed for 10 years, at a rate in the low $60,000-per-day range. Vitol and H-Line confirmed the deal on Wednesday. Vitol said it also holds "extensio
Norway's ADS readies sale of its only wholly-owned tanker But the Bjorn Tore Larsen-led outfit has an opportunistic approach to new business
Marius Hermansen joins Golden Ocean board Marius Hermansen, who is responsible for sale and purchase and newbuildings in John Fredriksen's private company Seatankers, now has a more central role in in the group. Hermansen was elected a board member of New York-listed dry bulk company Golden Ocean Group at the annual meeting in Bermuda this weekend. Hermansen came from the shipbroking firm Fearnleys to Seatankers in 2014. In July last
Seafarer dies on Polsteam bulker in Mexico Police release no details of death of 45-year-old Pole at Tuxpan.
Eastern Pacific Shipping switches New Times LR2 pair to dual fuel Savings from using low-price LNG will help to cover the increase in vessels' additional capital expenditure
Saudi production restored by 'end of month' Boost for tankers as energy minister says output will be back to normal soon, with all customers fully supplied in September.
Sergey Frank stepping down at Sovcomflot Deputy prime minister Maxim Akimov's office says veteran will leave the role to become chairman.
MOL completes Kobe LNG bunkering trial Japanese shipowning giant continues to gather experience with new green bunker fuel
Shandong Shipping inks tanker and bulker newbuilds worth $404m Total value of Shell and Bunge charter contracts is estimated to be worth $600m
Jiangnan reveals LPG carrier design to 'revolutionise VLGCs' Vessel design has received approval in principle from class societies Lloyd's Register and ABS
Bahri firms up VLCC order at Hyundai-backed IMI Saudi owner puts pen to paper on newbuilding deal, but details on price and delivery remain unclear
Cameroon to supply armed guards in bid to stamp out piracy New arrangement reduces admin delays incurred when applying for government armed personnel, says Gard
Sonatrach moves to scrap the world's 11th-oldest LNG carrier Algerian energy giant shifts to auction mode to clear out remaining 1980s-built ship
Ocean Rate Report: Saudi attacks spark higher tanker earnings This week, VLCC tanker rates are rising, whereas both trans-Pacific box rates and Capesize bulker rates are slipping.
Airbus hikes forecast for future freighter demand Airbus has elevated its 20-year demand forecast for all-cargo aircraft, saying the market will need 2,800 specialized units to handle growth in international trade and...
Startup Loop Energy gets cash infusion from engine-maker Cummins Fuel cell startup Loop Engency received a cash infusion from engine maker Cummins Inc. on Sept. 18. It was Cummins second investment in fuel cells...
Trump action blocking California emissions authority will not impact trucking - for now The Trump administration's decision to revoke a waiver allowing California to set its own standards for automobile emissions will not impact regulations governing heavy-duty trucks,...
Louisiana forwarder pays $488,250 criminal fine Dip Shipping will pay a criminal fine to settle an antitrust violation charge as part of an ongoing U.S. Justice Department forwarder price-fixing investigation.
Project44 unveils new truckload tendering technology Project44's new truckload tendering capability allows users to secure quotes without having to maneuver outside of their transportation management system.
Does FedEx face a cyclical or structural problem? In wake of poor q1 results and a massive decline in share price, questions arise as to whether FedEx's issues are cyclical or structural
UPS paying $2.25 million to avoid pregnancy discrimination lawsuit EEOC agreement clarifies obligations to both union and non-union workers.
Trucking coalition urges lawmakers to fight costly unfunded mandates A coalition of 31 trucking and trade groups is urging Congress to halt four bills it claims would cost the industry billions of dollars in...
CargoX and RoadLaunch collaborate to fuse public and private blockchains Public blockchain-based logistics document transaction platform CargoX has integrated with private blockchain-based digital freight management platform RoadLaunch to provide users greater visibility and transparency into...
Freight Futures daily curve: 9/18 LAX to SEA futures strengthen on Tuesday in an otherwise quiet day.
New trade coalition seeks stronger congressional tariff control Tariff Reform Coalition members want the Senate Finance Committee and House Ways and Means Committee to "exercise greater oversight and control" over President Trump's tariff...
GM cuts production at Canadian plant as strike hits U.S. parts shipments Oshawa facility operating at half capacity as UAW strike in the United States takes a toll on supply chain.
Daimler will buy electric truck battery modules from Chinese supplier CATL Daimler Trucks and Buses has entered a long-term supply agreement for lithium-ion batter technology for its coming range of electric trucks.
Imelda lashing eastern Texas with flooding rains (forecast video) More than 10 inches of torrential rain have flooded some east Texas roads with more coming rest of today.
Carriers continue to delay switch from old telematics devices About 20% of carriers still using AOBRDs are expected to hold onto the devices into December.
Shippers to benefit from Savannah if roads can keep up The Port of Savannah's expansion plans will benefit shippers -- so long as infrastructure needs outside the port are met.
Today's pickup: Germany moves to tighten rules on delivery subcontractors Cabinet backs draft law aimed at curbing illegal employment practices for final-mile drivers handing growing volumes of parcels.
IRU issues call to action amidst changing landscape The International Road Transport Union has taken the lead in setting the global road transport agenda, which calls for greater cooperation between industry stakeholders and...
FIRMMA takes shape with proposed rules New law strengthens U.S. government's national security oversight of foreign investments in American companies that manufacture "critical" technologies and infrastructure, as well as own airport...
Delta explores forest residue as jet fuel Forest debris buildup has been blamed for fueling many wildfires in the West. Delta Air Lines [NYSE: DAL] hopes it can soon fuel its jet...
PORT REPORT: Japanese giant MOL trials experimental LNG-fuelled tugboat at Kobe MOL continues its foray into experimenting with LNG with an innovative LNG-powered tugboat; meanwhile, MOL's LNG-bunkering business signs deals around the world.
Jordan Belfort, the Wolf of Wall Street, to speak at FreightWaves LIVE Chicago Hear Belfort's story, straight from the Wolf's mouth.
Pharr-Reynosa International Bridge receives $30 million upgrade aimed at speeding up trade The city of Pharr, Texas, will soon begin $30 million in infrastructure projects at the Pharr-Reynosa International Bridge along the United States-Mexico border. The projects...
US crude stocks climb 1.06 million barrels as refiners cut runs, imports rise US crude inventories climbed 1.06 million barrels last week to 417.13 million barrels, as refiners cut runs while imports edged higher, US Energy Information Administration data showed Wednesday.
Shipping giant Maersk to use MGO pricing for IMO 2020 box rate calculations Danish container line Maersk, the largest shipping company in the world, is set to use marine gasoil as the pricing basis for its rate calculations next year as tighter emission limits for shipping force a shift away from high sulfur fuel oil.
External: Global Risk Management
FEATURE: IMO 2020 mandate creates Singapore-Fujairah arbitrage for LSFO "Singapore and Fujairah [bunker] markets will move independently after 2020 depending on the fundamentals of each port," a trader said.
Term LNG buyers face higher prices over Saudi oil disruptions "As long as it is fair and equitable, of course it is something that we would like to promote," Mustaffa said.
West of Suez LR clean tankers in demand following attacks "With the deficit in clean products in the AG coming, there's been a push for LRs in the West to take gasoline to the Middle East," a broker said.
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