GoM lease sale pulls in $242.2 million in high bids The Bureau of Ocean Energy Management reports that today's oil and gas Lease Sale 252 generated $244,299,344 in high bids for 227 tracts covering 1,261,133.85 acres in federal waters of the Gulf
Damen enters cruise market with order for 155 m mega yacht Damen Shipyards Group has booked its first newbuilding order from the cruise sector. It comes from Norwegian entrepreneur Atle Brynestad's SeaDream Yacht Club and covers the construction of a 155 m mega
MAN ME-GI engines in EPS newbuilds will feature new LNG fuel supply solution Singapore-based Eastern Pacific Shipping (EPS) has exercised an option that adds a further six 15,000 TEU containerships to five that it ordered at South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI in
Bio-UV BWTS racks up more cruise ship orders Bio-UV Group has won a contract to supply its Bio-Sea ballast water treatment system for installation aboard the two LNG-fueled World Cass cruise ships currently under construction for MSC Cruises at the
Greek shipping company numbers fall again but fleet continues to climb The latest Petrofin Research survey shows consolidation continues in Greek shipping but last year's reduction saw a modest net reduction...
EU challenges governments to prove sulphur cap enforcement EU wants governments to record efforts of 2020 enforcement, not just report the violators
IMO under pressure to tighten 2020 reporting Divisions emerging between IMO member states over whether tightened reporting requirements in advance of 2020 should be mandatory or voluntary
Mozambique cyclone will see commodity and cargo claims 'There will be substantial rainwater ingress plus flooding and inundation' - Toplis and Harding operations manager Anuj Jethwa
CMA CGM's bill for Ceva could reach $1.6bn French line expected to effect 'squeeze-out' clause and delist shares from Swiss stock exchange
CSSC avoids delisting Excluding one-off items, CSSC Holdings actually reported a net loss of Yuan344.6m for last year
Asia-Europe transit times set to rise Network shake-ups will bring more capacity but longer voyage times as lines seek to soak up capacity
CNOOC targets domestic shipping for two LNG bunkering vessels Bunkering for ocean-going vessels represents a large potential, but owners and operators need more incentives to use liquefied natural gas...
Vale stands ready to restart Brucutu mine Vale still waiting for approval from the environment and sustainable development agency
PSA's Polish project ticks all the boxes The takeover of Europe's fastest-growing container port is a major coup for the Singaporean operator
Venezuela suspends oil shipments to India Indian state-owned refiners import hardly any Venezuelan crude anyway, and private owner Reliance Industries has reduced imports by a third...
NYK taps $81m in green loans for scrubbers Loan deal to install scrubbers was drawn up with a group of eight financial institutions
Daily Briefing UK seafarer tickets will be invalid after Brexit | Ship-to-ship transfers obscure Venezuelan oil trades | Boxships blamed as primary...
Largest LNG hub in the Philippines approved First Gen Corp, the parent of local partner FGEN LNG, is a major power industry player in the Philippines and...
World's largest LNG bunker vessel completes first bunker operation Nauticor-owned Kairos supplied LNG bunker to Destination Gotland's ferry Visborg in its maiden operation, and is the largest LNG bunker...
Nanjing Tanker sets sights on 'tailor-made' LR1 clean carriers at China yards Wide-beam newbuildings form part of company's fleet expansion and renewal programme
Sumec Marine sets up Singapore bulk operation Sumec Ocean Transportation will operate all vessels owned by Sumec Marine
Japan P&I Club leads dry bulk quality performance table Japan P&I Club has been named as the star performer among protection and indemnity insurers in the dry sector, according to an analysis of port state control inspections. Bulkers of more than 10,000 dwt that were insured by Japan P&I demonstrated a deficiency per inspection percentage of 1.15%, according to a study of 2017 data by Intercargo. Japan P&I reforms Leap Forward as it looks to growth
Seacor Holdings secures new credit facility Seacor Holdings has locked in a new credit facility. The new five-year deal, with a syndicate of banks including trustee JP Morgan Chase, allows the shipowner to borrow up to $125m "from time to time" with the ability to bump that figure up to $200m in accordance with certain terms. Per Securities and Exchange Commission filings, the loan comes with flexible interest rates of either a base rate
US shipbuilders say they can handle LNG carrier challenge US shipbuilders say they're ready for the LNG boom, but the real benefits could come from Washington, not the market. In response to Maritime Administrator Mark Buzby tipping the sector as a place domestic shipyards can thrive, American shipbuilders said they were ready and able, though perhaps lacking in experience. "None of us have built an LNG carrier before, but the LNG technology is well kn
China CSSC escapes from shares suspension with 2018 profit The flagship unit of China State Shipbuilding Corp says the shipbuilding market is bottoming up despite persistent industry challenges.
Petrogress CFO stepping down after six months Giannis Noutsos is out as chief financial officer at Christos Traios-led Petrogress. The Greek tanker owner traded on US OTC markets Wednesday announced the 34-year-old was stepping down. He had held the post for roughly six months after being appointed in September 2018. Noutsos will be replaced by Evangelos Makris, who joined Petrogress 9 March as a finance manager. Makris, 36, will serve on
Seanergy takes 'wait-and-see' approach on fleet expansion amid capesize woes New York-listed capesize specialist plans to pause capital spending despite having scrubber costs covered by charterers, chief executive Stamatis Tsantanis says.
China Shipbuilding Industry Corp merging Dalian and Bohai yards under Beijing reform Dalian Shipbuilding Industry Co (DSIC) will merge with Bohai Shipbuilding Industry Co in the latest round of internal restructuring at state-owned conglomerate China Shipbuilding Industry Corp (CSIC). According to an exchange filing, China Shipbuilding Industry Co Ltd (CSICL)-the Shanghai-listed flagship unit of CSIC-will transfer the 100% stake it owns in Bohai Shipbuilding to DSIC. DSIC is als
Danaos registers stock sold as part of restructuring for resale John Coustas-led bulker player books 99.3 million units sold to banks to pay down debt.
Shipping must act on Greta's call for urgency over climate change As the maritime industry inches its way towards a path to decarbonisation, it might want to listen to the generation that will inherit the world of tomorrow
Oaktree Capital Management looks to recoup cash after failed Aegean Marine play Oaktree Capital Management and Hartree Partners did not succeed in their bid to take over Aegean Marine 'Petroleum Network, but they still want to get paid. The two financial firms moved in a Manhattan bankruptcy court this month seeking to recover more than $1.15m in fees and expenses after their move to buy the bankrupt bunkerer was topped by Mercuria Energy Group in December. Aegean bankruptc
New head of Isle of Man Ship Registry confirmed Cameron Mitchell has been confirmed as the new director of the Isle of Man Ship Registry and will start in the role on 1 April. Mitchell has been the registry's deputy director since 2018 and replaces Dick Welsh, who is retiring after 13 years as head of the organisation. His career has included stints at Maersk, Geest Line and Farstad Shipping, where he worked for over 10 years as an engineer.
CS Shipping finds buyer for veteran VLCC at auction China State Shipbuilding Corp (CSSC) offshoot CS Shipping has successfully sold one of its VLCCs at auction, brokers say. CS Shipping placed the 281,705-dwt CS Pioneer (built 1998) on the block last month with the ship sold via the Guangzhou Shipping Exchange. Now TradeWinds understands the tanker has fetched a price of $15.34m, ahead of the $14.7m base level. CSSC oil storage unit puts vintage
Damen makes breakthrough into cruiseship sector Dutch shipbuilder Damen Shipyards has clinched its first cruiseship order. The company said it will build a 155-metre luxury vessel for Atle Brynestad's SeaDream Yacht Club. Delivery is set for September 2021. No price has been revealed. Romania takes back control of Mangalia yard Ace card in Damen pack is range of vessels built Damen's SVP for cruise sales and marketing Andrea Trevisan said:
Master fed crew 'based on performance' A public hearing into seafarer conditions in Australia has heard how one master awarded food to crew based on their performance. The Gladstone Observer cited International Transport Federation (ITF) inspector for Gladstone Sarah McGuire as saying she had inspected a Korean vessel at Hay Point with a Cambodian crew. They worked between 14 and 16 hours in a closed hatch over two weeks for rations
Amoretti fixes finance for new tankers Italian owner Amoretti Armatori has sealed a financing deal for two tanker newbuildings. Law firm Watson Farley & Williams (WFW) advised Credit Agricole Italia on the deal. The amount was not disclosed. Amoretti Armatori orders Chinese tanker double The company has ordered a pair of 4,500-dwt chemical carriers at Ningbo Xinle Shipbuilding in China. Construction will start in the first half of
Nordic American Tankers repeats scrubber stance amid reports of Norwegian ban Threats of a scrubber ban in selected Norwegian waters has led Herbjorn Hansson's Nordic American Tankers to again shoot down the idea of fitting the technology on its suezmaxes. Landmarks and cookies explain why scrubbers don't cut it for Herbjorn Hansson Hansson tips NAT interest costs on new loan Hansson shredded the idea during a colourful conference call last month and with fresh reports a
Grindrod in Mozambique mercy mission Grindrod South Africa is sending one of its vessels to carry aid for Mozambique following the devastating cyclone Idai. The 1,156-teu Border (built 1993) is currently serving the group's Southern African sea-freight business Ocean Africa Container Lines. It will now travel from Maputo to Beira on Thursday. A "much-needed relief cargo" is being assembled by local authorities and humanitarian aid
Denmark's Clipper Group 'sells bulker fleet' Denmark's Clipper Group has reportedly sold off its entire fleet of bulkers, according to industry sources cited by the Sofart daily. Clipper is not commenting, but told TradeWinds it will provide more information on the company in its annual report due on 31 May. Clipper sells 16 ships as it refinances Clipper refinancing paves way for bulker expansion The report claims Clipper will now be an
Aker BP and Solstad kick off with new PSV contracts The framework agreement signed in March between Aker BP and three Norwegian OSV owners is turning up firm PSV employment
Andi Case highlights 'massive misvaluation' of shipping companies in capital markets Clarksons chief executive sees huge value in stocks as recovery story continues to unfold
ExxonMobil's 2020 fuel patents a defensive move ExxonMobil has described its efforts to patent low-sulphur fuel oil (LSFO) that can meet the IMO 2020 requirement as "normal industry practice", suggesting that those 'attempts are a defence play against competitors. As TradeWinds has reported, ExxonMobil is among energy companies that have obtained 'patents for its LSFO products in the US, prompting concerns that future production of the IMO-'co
Maritime & Merchant Bank seeks more deals after profitable start to 2019 Maritime & Merchant Bank has booked a profitable start to the year despite limited new lending in the early weeks of 2019. The lender, which counts Henning Oldendorff, Arne Blystad, Arne Fredly and the Roth family among its investors, suffered zero loan losses for the period. M&M told its investors the first two months of 2019 have seen an operating result of NOK 14.2m ($1.67m). Expanding M&M B
Flies in the grill: NCL ship fails check An NCL cruiseship has failed a health inspection in the US after flies were found in catering areas. The Centers for Disease Control and Prevention (CDCP) also found that the response to acute gastroenteritis (AGE) among the crew was inadequate on the 146,000-gt Norwegian Breakaway (built 2013). NCL profit rises as cruiseship bookings boom The ship was awarded a score of 84 in the 10 March chec
NYK to book $90m disposal gain Japan's NYK Line is to bank a big profit from selling a US terminals subsidiary. It said that for the year to 31 March, it will book a gain of JPY 10bn ($90m) after the transfer of ownership of NYK Terminals (North America) to Macquarie Infrastructure and Real Assets. The US stevedoring unit is jointly owned through NYK Ports and Macquarie. NYK will retain no stake after the deal goes through.
National Bank of Greece drops US obligations Shipping lender National Bank of Greece (NBG) is scrapping its obligation to report to the US Securities and Exchange Commission (SEC). It said it was filing Form 15F to immediately halt requirements. "After 90 days, if the SEC does not object, the suspension becomes a permanent termination of SEC reporting obligations," it added. National Bank of Greece forces bulker sale "Until the terminati
Ofer's Israel Corp ready to splash cash Shipowner Idan Ofer's Israel Corp has pledged to start investing again. In a statement, it set out a new strategy to pump between $350m and $500m into companies over the next four years. Pacific Drilling posts fourth-quarter loss It is targeting Israeli and global firms with a proven commercial capability, not start-ups. "The investment strategy will be based on the guiding principle of managi
France to inspect Grande America wreck for pollution risk World's deepest ever wreck removal possible if sunken ship is declared an environmental hazard
Golden Ocean stock springs back with Vale iron ore volumes set for boost Shares in John Fredriksen's Golden Ocean made a fast start in Oslo today after Vale signalled it is poised to return some lost iron-ore capacity to the market. Vale puts capesize bulker on the market as scrapping accelerates Greek and Korean shipowners push capesize scrapping into double figures for 2019 Seanergy 'remains optimistic' on capesizes amid US-China trade tussle, Vale dam disaster D
Sohmen-Pao steps on M&A gas with Epic takeover in his sights Move continues breathtaking series of M&A activity involving nearly 150 ships in five years
Sperry seeks partners for marine digital ecosystems Navigational electronics group looks to leverage the expertise of parent Northrop Grumman, in combination with data companies
DSD set to sell old tanker ahead of fleet renewal Stavanger shipowner confirms sales process underway for MR product tanker
Two veteran crew killed in tanker fire Two seafarers have died and another was injured after a fire on a tanker off South Korea. The Yonhap news agency said the incident took place on an unnamed vessel five kilometres off the island of Odong in the early hours of Wednesday. The casualties both had the surname Kim and were aged 68 and 70. Their bodies were found in the wheelhouse. The chief engineer, also called Kim, suffered burns
'Unique' ice-class Bourbon OSV fetches hot price French owner Bourbon has banked a firm price for an ice-class anchor-handler as it continues to dispose of vessels. The large 280-bp Bourbon Arctic (built 2016) has been snapped up by Canadian operator Horizon Maritime for $41.5m, VesselsValue said. It values the ship at $39.54m, calling it "unique" due to its super ice-class, DP2 capability and subsea work capacity. Bourbon PSV escapes pirate
NYK seals $80m syndicated loan to pay for scrubbers Japanese shipowning giant has raised nearly $180m in green finance in a little over a year
Scorpio handymax set to STS first of Euronav LSFO cargoes Cargo transfer reported to be set to take place off Malta later this week, says oil tracking firm.
PSA International confirms deal to takeover DCT Gdansk Polish terminal marks first investment in Eastern Europe for Singapore terminal operator.
Canadian teachers launch Inmarsat takeover bid Offer for UK-listed maritime satellite comes at 24% premium to current share price.
Debate over European shipping regulations heats up The International Transport Forum and World Shipping Council issue reports to support their competing views as European regulators weigh extending antitrust protection for vessel-sharing arrangements.
Study finds U.S. ports contributed $5.4 trillion to GDP The report found the nation's seaports' contributions to the economy have increased since the previous nationwide report published in 2014.
Trump's budget would hike CBP staff, INFRA grant funds Proposed budget includes $1 trillion in DOT capital infrastructure improvements as well as hikes for trade enforcement operations and overall funding for the Office of the USTR.
Gary Nelson elected AAPA board chairman
Port of Virginia touts reduction in truck turns
Registration still open for Thursday's free webinar
Houston area petrochemical tank fire out: company A fire that engulfed eight tanks holding mostly gasoline components along the Houston Ship Channel has been extinguished
FUJAIRAH DATA: Oil product stockpiles climb 11% on week to 20-month high Oil products stockpiles at the Port of Fujairah rose over the past week
Japan refiners will be ready to supply IMO-compliant bunker fuel by Oct-Nov: PAJ chief Japanese refiners will be able to supply bunker fuel that complies with International Maritime Organization regulations
Crude, product futures settle at multi-month highs after large US stock draws Crude and product futures settled higher Wednesday after US Energy Information Administration data showed steep draws in US product stocks last week.
REFINERY NEWS: Petroperu to shut Talara in November for expansion; ULSD, gasoline imports to rise Petroperu plans to shut its 65,000 b/d Talara refinery in November
External: Global Risk Management
TANKERS: BW Group enters pressurized LPG market with Epic Gas buy Epic Gas has a fleet of 39 vessels ranging from 3,500 to 11,000 cu m that typically serve short-haul or regional LPG and chemicals trade.
Vitol eyes renewable investments as peak oil demand looms by 2035 Vitol said it is considering how its "skillsets can best be deployed" in developing and trading alternative sources of energy to fossil fuels.
FUTURES: Crude moves lower on US-China trade concerns "Signs of obstacles in the US-China trade talks seemed to dent sentiment in the market," ANZ analysts said.
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