Kongsberg provides "full picture" solution for SeaDream mega yacht Kongsberg has signed a contract with Damen Shipyards for the delivery of a fully integrated Kongsberg Maritime solution for the 155 m mega yacht Innovation on order at the Damen Mangalia shipyard
ABS announces LNG Cargo Ready notation for ethane carriers A lot of focus at this week's Gastech event was on ethane and Very Large Ethane Carriers. As we report elsewhere, Houston headquartered American Ethane Company is planning to build a fleet
Ørsted awards Van Oord major Taiwan wind farm cable contract Here's a reminder that there's more to offshore wind farms than wind turbines. Rotterdam headquartered Van Oord has been awarded a contract by Ørsted for the cable installation works at the Greater
USACE sets date for Bonneville lock reopening The Bonneville navigation lock will return to service, allowing vessels to pass through it, beginning 10 a.m. Sept. 30, according to officials at the Portland District, U.S. Army Corps of Engineers. Bonneville
American Ethane to build fleet of giant ethane carriers Houston-based American Ethane Company has announced plans to order 17 very large ethane carriers at Chinese shipyards Hudong-Zhonghua and Jiangnan. The 150,000 cu.m VLECs will transport 7.2 million tonnes per year of
Aurelius Finance backs Ardent buyout Aurelius Finance Company is providing finance to support the buyout of Ardent, the company formed in 2015 by the merger of Crowley's Titan Salvage with Svitzer Salvage. The deal will see Ardent's
Fincantieri Bay opts for Wärtsilä solution for LNG bunkering barge The 5,400 cu.m LNG bunkering barge on order at Fincantieri Bay Shipbuilding (see earlier story) will have a W'rtsil' LNG Cargo Handling System. Wärtsilä says the order endorses its leading position in
Eastern launches first of two Z-drive tugs for Bisso Offshore Eastern Shipbuilding Group, Inc., Panama City, Fla., reports that its Allanton facility has recently launched the C.D. White, the first of two 5,100 HP Z-drive ship handling tugs under construction for Bisso
Vard to build advanced trawler for Luntos Russian deepwater fishing company Luntos Co. Ltd. has ordered a state-of-the-art stern trawler from Fincantieri Group member Vard. To be built to Vard 8 02 design, the 80.4 m x 16.7 m
TMS Cardiff Gas confirms seven-year Total deal The charter appears to relate to the sole unit previously without a charter out of a total of 11 on...
Dynagas agrees 'transformative' refinancing Dynagas did not immediately identify the banks in the consortium, but said that the refinancing was 'transformative' for the partnership
DP World considers offshore expansion with a bid for MEO EXCLUSIVE: Cash-rich DP World is potentially following its $1bn Topaz buy-out by entering the bidding for embattled Singaporean offshore supply...
Patrick Walters leaves Peel Ports role Peel Ports chief commercial officer is moving on after five years at the port and terminal owner
New ISO consultation on 0.5% fuels unveiled International Organisation for Standardisation releases new PAS for incoming fuels
Saudi oil supply disruption will benefit VLCC market Very large crude carriers owners would benefit from congestion at Saudi ports and buyers securing shipments from other distant sources
Frontline opts not to buy four more suezmaxes from Trafigura The tanker owner decides to stay with 10 suezmaxes as it looks for more tonnage in the very large crude...
NYK wins long-term coal freight contract with Vietnam-based power plant NYK has a new strategy of seeking to control exposure to volatile market conditions by maintaining and expanding long-term dry...
Cosco Shipping Ports trims portfolio in Yangtze Delta In what appears to be a revamp of its Yangtze River Delta portfolio, Cosco Shipping Ports is also looking to...
Ships reap huge savings from burning LNG at today's prices High-sulphur fuel oil prices surge after the crude oil outage at two plants in Saudi Arabia. This situation has has...
Viewpoint: Stability before speed It remains the legal responsibility of the master to keep a ship safe, but the tools which the master requires...
Daily Briefing Free to read: Insurers investigate scrubber risk and expect 2020 engine damage claims| Owners want a level playing field come...
Reefer industry braces for equipment shortage With reefer fleet growth flat this year and reefer production in the second half of 2019 seen unlikely to meet...
Port of Oakland's Chris Lytle wins 'Connie' Lifetime Achievement award Connie Awards are presented annually to maritime industry leaders who have had substantial impact on container shipping. Lifetime Achievement awards...
Container oligopoly's capacity management will shape rates, not demand The industry has gained the required agility to mitigate unfavourable macroeconomic events such as the US-China trade spat, says Seaintelligence
Industry must raise its game on boxship fires, salvor tells IUMI 'Large casualties need assistance, they cannot be out at sea for a long time, and we've all seen that,' said...
Shell and Qatar Petroleum set up LNG bunkering venture The two companies will take equal ownership in the new venture, which aims to facilitate the sale of liquefied natural...
Cape rates should 'remain tight' despite downward trend They should stay above $25,000 per day, Jefferies analyst Randy Giveans says
Ardent management tap alternative finance to buy stake from Svitzer and Crowley Ardent's management buy-out will allow Svitzer and Crowley to focus less on the salvage segment.
The history boys: Jacq Pierot & Sons celebrates 125 years Founded in Rotterdam, transplanted to New York, Jacq Pierot & Sons is learning new tricks as it navigates its third century
It hasn't been plane sailing for this city at sea A dream to build a vessel four times longer than the world's largest cruiseship, complete with airfield, has been on the drawing board for decades. The visionaries behind it are confident they can get the ship (and that airfield) on to the water soon
Secrets of the deep: the Red Sea mystery The loss of a bulker turned into a bitter insurance dispute. But the case never quite made it to court, leaving the market no clearer on the conflicting claims.
Schepers finds new homes for two more boxships in $18m deals But German manager retains management of other vessels with new structures
Union Maritime tanker asset play pays dividends UK shipowner Union Maritime appears to be logging a substantial profit on the sale of a 16-year-old aframax tanker. The 104,900-dwt Anavatos (built 2003) has gone to an Indonesian buyer for between $13.5m and $14m, European shipbrokers said. It has an attractive dry-docking status, as it passed special survey in April last year. Union Maritime linked to eight-ship deal with BP Shipping Union Ma
Evangelos Marinakis cape flip yields $2m profit, brokers report Capital Maritime & Trading has made a quick $2m profit by flipping a capesize it acquired less than three months ago, according to market sources. Several brokers in Greece, London and the US report the Evan'gelos Marinakis-led owner as selling the 177,500-dwt Aristofanis I (built 2005) to unidentified South Korean buyers for between $16.5m and $16.7m. The Mitsui-built vessel used to trade in th
VLCC queue shortens as Saudi exports resume after attack The Maran Arete became the first ship to lift from the world's largest oil export terminal on Tuesday following last weekend's drone attacks
Ex-Clarksons man Zeuthen opens up in Denmark for Synergy Experienced executive to spearhead Singapore group's shipmanagement operations in Copenhagen.
Global Ship Lease revamps capital structure with fresh debt Global Ship Lease (GSL) has attained hundreds of millions of dollars in new debt, essentially resetting its capital framework. The Ian Webber-led boxship owner has scored a new syndicated $268m senior secured credit facility comprised of two tranches with several lenders, including Credit Agricole Corporate and Investment Bank and ABN AMRO Bank. CIT Bank, Hellenic Bank Public Company and Siemens
Dynagas LNG strikes deal for 'transformative' $675m loan Dynagas LNG Partners is using a fresh loan to help eliminate its existing debt. The New York-traded gas carrier owner announced Thursday a new $675m senior secured loan that will be used, alongside cash on hand, to pay down a $470m loan and a $250m in bonds, totalling $720m. The company has $112m in cash and equivalents, according to Securities and Exchange Commission filings. Investors fight f
Former Aegean Marine directors sued over alleged 'fraud scheme' Peter Georgiopoulos named among the defendants as creditors launch lawsuit in New York over alleged $300m fraud
BNP Paribas forces auction of last Brightoil VLCC Chinese court orders sale of Bright Gem as arrest period expires.
Borealis tastes victory as dragon boat race brings LISW to a close Christoph Toepfer joins the winning team as Spinnaker Global's annual charity competition raises more than $190,000 for the OSCAR Campaign
POSH facing $42m impairment as JV defaults Singapore owner could not reach agreement with Terasea over new financing.
Samos Steamship buys open-hatch bulker from Gearbulk Samos Steamship is increasing its position in the open-hatch bulker market by taking a 10-year-old ship that has been operating in the Gearbulk fleet. US sources said the Greek bulker and tanker owner has purchased the Santoku Shipping-owned 54,200-dwt Kashi Arrow (built 2009) for a fairly low $10.7m. Kassian continues clear out with sale of ageing panamax bulker Gearbulk and Samos did not res
Seaspan eyes buys with $500m financing deal Boxship owner says facility now gives it access to $1.5bn.
Fincantieri injecting equity in Vard after deep loss for 2018 Italy's Fincantieri is injecting fresh equity into Vard Group after the Norwegian shipbuilder suffered heavy losses. Vard has logged a loss after taxes of NOK 1.88bn ($220m) last year, against a NOK 99m loss in 2017, Norwegian daily Finansavisen reported. Norwegian shipyards and equipment makers diversify from offshore shipbuilding Fincantieri firms up first of six Viking ships Vard has had ac
TMS Cardiff Gas confirms newbuilding interest Christos Economou-controlled owner says latest new vessel fixed for seven years, with more to come.
Lauritzen Bulkers cull of owned ships continues Danish operator Lauritzen Bulkers has sold another ship as it pares down its owned fleet, but is so far holding on to its newest vessels. European and US brokers said the outfit has disposed of the 31,800-dwt Elvira Bulker (built 2011) - its seventh bulker sale since June. Lauritzen set for bulker owning exit with sale of China-built trio The Hakodate Shipyard-built vessel has gone to an undisc
SeaBird Exploration lines up survey work in Africa and Asia SeaBird Exploration has won new deals to conduct offshore surveys in Africa and in the Asia-Pacific region. Equipment delays to hit SeaBird Exploration's bottom line The Oslo-listed company said it has signed a contract to acquire a 2D seismic survey for an unnamed "international" oil and gas company in the Africa region. The three-week-long contract will employ Seabird's 81-metre seismic surv
ISO releases IMO 2020 fuel specifications Standardisation body aims to end lack of clarity over low-sulphur bunkers' viscosity and stability.
CMA CGM strikes long-term deal with Eastern Pacific for dual-fuel sextet First company to invest in LNG-fuelled units adds another six ships to chartered fleet
Glencore joins Cargill's chartering revolution Trader becomes sixth member of group aiming to digitalise transactions.
Zodiac Maritime takes advantage of low prices to grab capesize Diversified owner buys another Japanese-controlled unit
MOL Chemical Tankers toasts Nordic takeover with London fest CEO Tsuneo Watanabe toasted 12 months of ambitious expansion with a special cocktail event
Avenir lines up charter with Petronas for first small-scale LNG newbuilding Start-up looks set to lock in first of six vessels it has on order at Chinese yards to Petronas
Transal Denizcilik eyes acquisitions of small tankers Turkish owner wants to focus on ships of 10,000 dwt or smaller after reportedly selling three vessels for nearly $25m
NYK linked to VLCC sale as prices fall Brokers say 2005-built Toyo fetched $28m in Greece.
Spanish bust drugs ring run by 'Messi of hashish' Spanish police have broken up a drugs ring involving specially built speedboats. The illegal operation was run by Abdellah El Haj, a Moroccan citizen dubbed the "Messi of hashish", AFP reported. Mexico seizes fentanyl on Maersk boxship It cited a spokesman for Spain's Guardia Civil force as saying police seized five boats, 17 vehicles, several weapons and more than €500,000 ($551,000). A shipy
NYK signs 25-year bulker contract in Vietnam Japanese owner to carry coal for Van Phong Power Company.
Saudi Arabia joins US-led Middle East Gulf flotilla Nation signs up to International Maritime Security Construct in wake of refinery attacks
Panama Canal need not be a bottleneck for LNG carriers But transits slots must be increased to design capacity and more gas carriers be allowed through as trade volumes rise
New wave of VLEC orders awaits starter's gun Class society ABS sees potential for 40 newbuildings as it tracks projects
Trump opts for more sanctions over military response to Saudi attacks US president claims failure to attack Iran in the summer was a 'sign of strength' not weakness
Van Oord bags Taiwan offshore wind farm contract Dutch contractor latest to benefit from Asian nation's investment in renewable energy
Azure takes control of handies managed by Taylor Maritime Investor AFO expands own vessel vehicle by taking commercial role for four ships from Taylor Maritime
Logger trade helps China win Solomon Islands tug of war Private owners of veteran tonnage influence island nation's decision to turn its back on Taiwan
Typhoon Tapah to menace southern Japan and Korea After several days of dithering in the Philippine Sea, tropical storm Tapah (also called Nimfa) has transformed into a typhoon. It has also started accelerating...
GM strike brings layoffs to truckers in Canada U.S.-based Martin Transportation Systems temporarily lays off drivers at Windsor, Ontario, branch as strike hits cross-border routes between GM plants.
Amazon announces purchase of 100,000 EV delivery vehicles from Rivian - the largest order ever The deal coincides with an ambitious new initiative aimed at making Amazon carbon neutral by 2040.
Pricing Power Index: Shippers still have the advantage as long-term momentum builds for carriers Critical events caused more panic than actual disruption to supply and demand.
Navistar will build Industry 4.0-ready truck plant Navistar is building a new Industry 4.0-ready plant near San Antonio, Texas that will help raise earnings before interest, taxes, depreciation and amortization.
Former US agriculture chiefs push USMCA ratification Pressure applied as some Democrats remain concerned about labor provisions.
Hyundai to pay $47 million fine for illegal diesel engine imports Manufacturer installed diesel engines in construction equipment that failed to meet emissions standards under the Clean Air Act when imported into the U.S. from 2012...
House Democrats seek to slow White House plan for LNG rail shipments Two lawmakers want more extensive review of the risks and practice of using tank cars to haul liquefied natural gas.
Fallout from the Saudi attack: American drillers are more than capable of covering the shortfall As the world's top producer of oil, the United States is more than capable of withstanding the global effects of the Saudi Arabian refinery attack.
Freight Futures daily curve: 9/19 Increased freight volumes out of Texas due to Imelda drive DAL to LAX futures on Wednesday.
Where's my container? Ports, terminal operators and shipping lines are striving to improve the flow of information.
Texas swamped with major flooding (forecast video) More than 20 inches of flooding rains have shut down roads in southeastern Texas. Threat continues today.
Toyota, key supplier to invest nearly $800 million in San Antonio manufacturing facilities Toyota recently announced a $391 million investment at its Tacoma and Tundra assembly plant in San Antonio. In addition, Aisin AW, a Japanese auto supplier...
Today's Pickup: German auto parts suppliers' stare at insolvency over market downturn German auto industry is going through an economic crisis; Waymo carriers 6,000 passengers in its first month of autonomous taxi service; e-scooter market witnesses a...
FreightWaves pledges to offset carbon footprint for event series At FreightWaves, we are trying to do our part by bringing transparency and commentary to market issues, including climate footprints, sustainability, and innovation.
$60 million AV grant package includes automated fleet testing $7.5 million going to Virginia Techs will also help set industry guidelines.
PSR changes largely done, railroads make intermodal pitch Executives at North America's major railroads are making the case that intermodal service will be more reliable and consistent after a year of major service...
World's foremost blockchain experts and groundbreaking projects part of the upcoming BiTA Symposium Blockchain experts will present innovative projects and discuss the latest in the development of the technology for logistics operations at the upcoming BiTA Symposium Chicago,...
U.S. rail volumes remain soft in September Trade uncertainty and loose truck capacity continue to weigh on rail traffic.
Drivers as assemblers: a closer look at last-mile freight delivery Last-mile freight delivery might involve drivers to act as assemblers, helping set up products like furniture and home appliances. These driver-assemblers have specific skill sets...
Getting Inside the Trans-Alaska Pipeline Hilcorp makes headway in Alaska buying out BP's Alaska assets.
UPS drivers don a uniform upgrade after 100 years While still mostly brown, the shirt is now made with breathable, micro-pique fabric that ensures comfort in hotter temperatures.
How brokers manage working capital in a challenging freight environment In partnership with Carggo... the next few quarters will squeeze brokerage cash flows. Technology can help.
German mobility startup Wunder Mobility enters U.S. market Wunder Mobility has raised $29 million in an extended Series B round and is channeling it towards expanding its geographic footprint and suite of mobility...
IRU Exclusive: Driver shortages a 'real and growing threat' Boris Blanche, managing director of the International Road Transport Union, believes upskilling, better recruitment practices and semi-autonomous trucking can help address the shortfall of drivers.
Port report: What peak season? Key box trade hardly bumped According to an MSI analyst, a key mainline container trade hardly bumped this summer - and the forward outlook for carriers is less than upbeat.
Saudi disruptions expose Asia's deficient emergency oil reserves While organizations like the International Energy Agency have coordinated strategic petroleum reserves (SPR) in member countries, most Asian countries are not IEA members and are unable to fund expensive long-term storage programs.
Attacks on Saudi oil units affecting major Asian crude buyers differently
FUTURES 5: Refined products rally as storm disrupts USGC refinery operations NYMEX refined products futures jumped Thursday as Tropical Depression Imelda disrupted refinery operations in Texas.
External: Praxis Energy Agents DMCC
Saras ready to produce 950,000 mt of VLSFO by 2020
Specification body ISO sets out 0.5% sulfur bunker fuel challenge The PAS "defines general requirements that apply to all 0.50 mass % sulfur fuels and confirms the applicability of ISO 8217 for those fuels."
ISO releases much-anticipated IMO 2020 compliant fuel specification The ISO/PAS 23263:2019 document "Petroleum products -- Fuels (class F) --Considerations for fuel suppliers and users regarding marine fuel quality in view of the implementation of maximum 0.5% sulfur in 2020" is now available.
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