Transpacific trade awaits post-Chinese New Year crash Capacity control will be top of the agenda as carriers try to mitigate against the expected volume shortfall in the...
Delta Tankers confirms suezmax resale purchase Diamantis Diamantidis group has clinched 12 acquisitions across the dry bulk and tanker spaces in less than a year
Monjasa redeploys bunker tanker to boost Panama operations Danish bunker supplier moves the 8,800 dwt Accra - capable of carrying 2020-compliant fuels - into the Panama Canal
Brightoil leaves investors in the dark The latest update on the company's financial position appears to have merely muddied the waters of what was an already...
Keep calm (and prepare for change) Preparation is the difference between being able to take advantage of an external threat or sinking with all employees
DFDS boosts UK-Rotterdam ro-ro capacity New ro-ro bridges will allow Felixstowe to cater to the latest generation of ships as it seeks to become a...
Letter to the Editor: Automated shipping will not lead to a one-size-fits-all industry The advent of automated technologies in the shipping industry will lead to nuanced changes on the ground, dependent on circumstances...
UK names industry veteran as new Sosrep Hennig has acted as interim Sosrep since May 2018 following the departure of Les Chapman
Euroseas handed stock exchange compliance notice The company has six months following receipt of the notification to regain compliance with the minimum share price requirement
Dutch shipowner fined for illegal scrapping Holland Maas Scheepvaart Beheer II BV has been ordered to pay about $3.4m
Maersk sells Hamburg Süd's bulk unit The deal is expected to close at the end of the first quarter, subject to regulatory approval
Daily Briefing Indonesia to break through with its second mini LNG | Gap between potential and reality for LNG | OOIL poised...
MOL sets up pool operating unit with Asahi Tanker Fleet of about 25 vessels will focus on Asia and Oceania
Brightoil grappling with $250m creditor claims Creditors have launched legal proceedings against Brightoil and its subsidiaries, requesting repayment or even winding up orders
FSLT sells off ageing MR tanker Liquidity from the sale will help improve FSLT's risk profile while positioning the shipping trust to take advantage of an...
Deadly fire hits two ships in Kerch StraitA number of seafarers have died after fire ripped through two ships near the Kerch Strait on Monday. Global media outlets say 10 or 11 Turkish and India crew from the vessels have perished in the incident. At least 12 are said to have survived. Reuters, the New York Times and the BBC all report seafarers jumping from the vessels to escape the flames and smoke. While details are limited at this
CMES expects 2018 profit to double Owner of the world's largest VLCC and VLOC fleets says its results were boosted by asset acquisitions, valemax expansion and tanker market recovery.
Morgan Stanley upgrades Teekay LNG Partners after sell-off Morgan Stanley has upgraded Teekay LNG Partners following a crash in the value of its units in the second half of 2018. Analyst Fotis Giannakoulis raised the MLP to overweight today and reset his target price from $17.50 to $16.00 per unit. Global stock market crash has taken shipping equities to crisis levels Teekay LNG changing structure to lure investors Giannakoulis explained Teekay LNG sa
GC Rieber wins Statnett management contract The Oslo-listed company replaces Simon Mokster Shipping as technical manager
Cargoship brawl lands master in hospital A brawl on a UK-flagged general cargoship ended up with its master going to hospital. Germany's Mecklenburg-Vorpommern police said the incident occurred on the 3,600-dwt Eastern Vanquish (built 2012) in Rostock on 17 January. In the late evening, marine police and an ambulance were called to the vessel. There had been a "quarrel" between the chief mate and the captain, both Russians, police sai
MOL sells product tanker to Greek shipowner Japanese shipowner Mitsui OSK Lines has sold one of its LR2 product tankers, brokers say. It is believed the 105,800-dwt Phoenix Dream (built 2005) has been purchased by a Greek shipowner. MOL and Asahi Tanker launch pool operating company Initial market rumours had last week pointed to a transaction at around $14.5m. Now brokers tell TradeWinds a sale has been agreed at a price in the region
UK reveals near-miss involving Stena ro-pax and sub The UK is probing a near-miss involving a Stena ro-pax and a navy submarine. The previously unreported "close quarters incident" took place on 6 November, the department for transport told TradeWinds. Ferry crash master thought he was facing the other way The ship involved is the 30,300-gt Stena Superfast VII (built 2001), which operates between Belfast and Cairnyan. The government is not rele
VesselsValue takes axe to OSV prices as it rejigs team VesselsValue as painted a grim picture for offshore support vessel prices as it announced a reorganisation of its offshore team. The UK company said last year was predicted by many to be the start of the recovery for the sector, but while some positive moves were made, the real picture is somewhat different. There have been big consolidation moves in the US and Brent crude saw a steady price inc
New fuels must be 'fit for purpose' says Fafalios Leading Greek voice urges industry to collaborate and ensure new blends do not cause damage, and backs London as top shipping centre.
Essar Shipping CFO Sandeep Akolkar quits Essar Shipping has said CFO Sandeep Akolkar has resigned with effect from Monday. It gave no reason for the departure. Last year, the company sold its last capesize bulker for scrap. The 175,000-dwt Kiran (built 1994) went for for recycling in Pakistan for $434 per ldt or $10.5m.
Equinor presses on with shore power for PSVs Norwegian major Equinor is continuing its drive towards shore power for its chartered platform supply vessel (PSV) fleet. It has 13 units in its contract portfolio that are ready for electrical supply, with another five being prepared for this in 2019. Owners include Havila, Atlantic, Solstad, Dof, Ugland and Eidesvik. It opened a shore-to-ship power supply station at the Dusavik supply base ne
Aspen set to provide new financial backing for Lodestar Marine insurer lining up fresh capital injection after RSA withdrawal
Stalwart deal shows further strengthening of tanker values An aframax purchase by a Greek shipowner last week has provided further evidence of rising asset values in the crude space. Stalwart Management steps up drive for aframax tankers Dimitris Souravlas-led Stalwart Management was last week named as the buyer of the 106,600-dwt Blue River (built 2002). A price of $11.5m was placed on the purchase, as TradeWinds reported at the time. Clarksons des
Banker Porsteinsson takes over at Eimskip Icelandic container line Eimskip has hired an experienced banker as its new CEO. Vilhelm Mar Porsteinsson is replacing Gylfi Sigfusson on 24 January. Sigfusson is heading to the US to run Eimskip there and in Canada, as well as Eimskip Logistics. Porsteinsson is managing director of corporate and investment banking at Islandsbanki. "In his work he has gained vast knowledge and experience in fi
Public investors enter 2019 with little interest in shipping stocks Malaise that has prevented IPOs in shipping may be getting worse as shares languish
Capesize spot earnings up 15% week on week Market movements since 11 January have been small but meaningful.
Densay Shipping strikes again with successful asset play Turkish bulker owner Densay Shipping has pulled off another successful asset play, brokers say. Chinese import buyers of veteran tonnage brave new S&P waters Densay linked to canny asset plays It is believed to have sold a Chinese built supramax for a price 77% above what it paid for the ship in 2016. European brokers say the 57,000-dwt SSI Expedition (built 2010) has been sold to an undisclos
NWS cargoship stuck off Denmark A Russian cargoship has run aground off Denmark, according to the country's Defence Command (Forsvaret). Forsvaret said the 3,200-dwt Alexander Tvardoskiy (built 1996) got stuck on Sunday just north of the Oresund tunnel. It was en route to the UK with a timber cargo. There was no risk of pollution, Forsvaret added. The ship will be inspected before it leaves the area. It is operated by North
Global stock market crash has taken shipping equities to crisis levels Arctic Securities singles out tankers and LNG as top picks after global shares sell-off.
Transocean tipped to win race for Japanese product tanker Price seen as firm and reflective of an improving freight market.
Mega-boxship delivery torrent set to slow A record number of mega-boxships were delivered last year, but there are signs this rush is abating. Shipping consultancy Drewry said delays and slow-steaming could help out carriers this year. Asia to Europe box volumes finally rising A total of 26 ultra-large containerships (ULCs) of more than 18,000 teu were handed over last year. All of the combined capacity of 525,500 teu was sent to work
Hamburg Sud sells bulker arm to China Navigation Deal comes just over a year after container fleet was taken over by AP Moller-Maersk.
Monjasa has biggest bunker tanker in Panama after move Danish bunker group Monjasa has redeployed a tanker from West Africa to boost its Panama Canal operations. It said the 8,800-dwt Accra (built 2010) will be the biggest and newest ship in the market. Monjasa delivered 450,000 tonnes of marine fuel in the Canal area in 2018, making it the second largest supplier. Accra has received all safety and operational approvals from the Panamanian authorit
Washingtons eye $474m Seaspan sell-off A major shareholder of US-listed boxship owner Seaspan has revealed details of a big stock sale. Companies controlled by the Washington family have registered up to 52.81m shares for sale at a maximum price of $8.98 each, against a closing price of $9.16 last Friday. This would bring in more than $474m. Fairfax stake in Seaspan hits 36% Seaspan frees up more ships as de-leveraging continues T
Chronos linked to Nissen kamsarmax deal A new name has joined the list of companies rumoured to have purchased a kamsarmax from Japan's Nissen Kaiun. UK-based brokers have identified Greece's Chronos Shipping as buyer of the 82,000-dwt Crystal Star (built 2014). The market has been rife with speculation about the new owners of the Sanoyas Shipbuilding-constructed vessel, offers for which were invited last week. The vessel, which is
Euronav buys back $3m stock pile ahead of financial results Euronav continues to invest in its own shares at a time executives have suggested tanker equities may represent a strong counter-cyclical bet against a recession. New York and Brussels-listed Euronav added an €2.99m ($3.04m) bundle of stock to a $4m pile picked up in the final days of 2018. Modec picks up Euronav suezmax at stellar price Tanker stocks a good spot amid recession talk, says Paddy
Unisea linked to purchase of PIL's last capesize bulker duo Signs are that Adamantios Lemos-led firm has re-entered the big bulker sector
Euroseas put on notice by Nasdaq Greek boxship owner Euroseas has been told to boost its Nasdaq share price to regain compliance with the exchange's listing rules. It said it had received notice that its stock had traded below $1 for 30 consecutive business days. It has six months to regain compliance, which will occur if it can boost the stock back above this level for 10 straight days. "The company intends to cure the defi
Seacor Marine's Politis to head offshore at Transport Capital Singapore investment manager Transport Capital has recruited Joshua Politis as head of offshore. The former director and general manager of Asia Pacific at US offshore vessel owner Seacor Marine will also become a partner in Singapore. While at New York-listed Seacor Marine, Politis managed its operations and led its Asian merger, acquisition, restructuring and investment activities. Transport
Serromah Shipping tanker refloated off Germany A Dutch tanker has refloated after runing aground off Cuxhaven in Germany. The 12,500-dwt Oriental Nadeshiko (built 2009) got stuck early on Monday morning in the Elbe, the Basler Zeitung reported, citing German authorities. It is loaded with a 9,000-tonne cargo. The crew was reported as saying no damage has been suffered by the vessel. The cargo includes hydraulic fluids, solvents and fuel.
Lease accounting adds to restated DFDS profit Danish ro-ro giant DFDS has restated a higher profit for the third quarter as it complies with IFRS 16 accounting regulations. It is adopting the standard from 1 January this year and issued an updated EBITDA figure of DKK 3.5bn ($533.5m) for the three months to 31 October last year. This is up from DKK 2.9bn under the old rules. The shipowner said the move changes the way it accounts for all l
Algoma extends Yangzijiang newbuilding options Canadian owner has also received full refund of payments made for cancelled Uljanik orders.
MOL and Asahi Tanker launch pool operating company Two Japanese shipowners say initial focus will be on the highly versatile MR sector.
UK government names new SOSREP Industry veteran, who has had role on interim basis since May 2018, gets casualty role full-time.
VIDEO: Rio Tinto sees modest growth in iron ore exports Output back to normal at Australian mining giant after incident free quarter.
Months of 'cascading effects' from shutdown expected Analysis shows that the ongoing shutdown is impacting trade functions across the federal government.
Sanctions ready to lift against three Russian firms U.S. exporters wait for official announcement from OFAC for guidance on how to proceed.
Commentary: Government closure hurts maritime industry Attorneys from Winston & Strawn say regulatory impacts "will become more severe and then debilitating over time."
Heavy volumes increase congestion at major U.S. ports Relief is expected when volumes dip after Lunar New Year, which begins Feb. 5.
China Navigation buying bulk shipping arm of Hamburg Süd Since Maersk acquired Hamburg Süd in 2017, it is focusing on the container liner business.
S Korea's LSMGO prices at 6-week high on strong demand, tight supply "Most of the LSMGO is [diverted] to the local demand [for heating], so it's not easy to find avails for LSMGO," a trader said.
External: Marine Bunkering(Rotterdam)B.V.
FUTURES: Crude ticks up on IEA report; easing trade tensions The process would be "a marathon, not a sprint," IEA said.
HK's Brightoil plans Zhoushan oil terminal asset sale amid restructuring Brightoil's intended asset sales come at a time when Zhoushan port is emerging as an attractive bunkering destination in China.
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