A.P. Moller-Maersk announces completion of sale of ordinary shares in Total S.A.
AMTOI Youth Council's inaugural event focuses on importance of training when handling dangerous cargo
PSA International & others to jointly acquire 100 pc of DCT Gdansk in Poland
Standard operating procedure consequent to commencement of "document Processing Area" in the parking plaza & gate automation for export & import through NSICT/NSIGT, GTI & JNPCT
Tiger Logistics organises health check-up camp at ICD-Tughlakabad
Nominal export growth in Feb. attributed to increasing protectionism & tough global conditions
East Coast Maritime Forum & Eastern Star Awards 2019 see key sectoral players gather in strength to discuss vital issues & applaud excellence
BAE San Diego books $41.2 million Navy contract BAE Systems San Diego Ship Repair, San Diego, Calif., has ben awarded a $41,895,897 contract for the execution of USS Anchorage (LPD 23) fiscal 2019 selected restricted availability. BAE will provide the
Hybrid RoPax will deliver 50% cut in CO2 emissions The new Wasaline RoPax ferry under construction by Finnish shipbuilder Rauma Marine Constructions (see earlier story) will have a hybrid propulsion solution combining dual fuel (LNG/biogas and diesel/SCR) machinery and batteries, connected
KVH extends mini-VSAT broadband coverage Middletown, R.I., headquartered KVH Industries, Inc., (Nasdaq: KVHI), reports that it has expanded its mini-VSAT Broadband HTS network to the Pacific Ocean via the Horizons 3e satellite, which is jointly owned by
Simsite pumps picked for Staten Island Ferry newbuilds Hoboken, N.J., headquartered Sims Pump Company reports that it has been awarded a multi-million dollar contract to supply Simsite structural composite pumps for the series of three 320 ft Ollis Class ferries
Svitzer christens latest tug in its Port of London fleet Maersk group towage subsidiary Svitzer held a ceremony on the River Thames today to officially christened Svitzer Meridian as the latest - and tenth - vessel in its Port of London fleet.
Damen Yichang cuts steel for LNG bunkering vessel Damen Yichang Shipyard, China, has cut steel for the first of a planned series of short-sea LNG bunker vessels to be built for Eesti Gaas of Estonia. The 6,000 cu.m capacity vessel
New solution enables remote survey of DP systems Kongsberg Maritime, Bureau Veritas and offshore services provider Bourbon have successfully tested a new solution for remotely auditing the performance and integrity of DP (Dynamic Positioning) systems Developed by Kongsberg in collaboration
TT Club: There's a major container fire every 60 days This month's sinking of the Grimaldi Group's Grande America is just the latest in a long string of high profile incidents in which serious fires have broken out in cargo containers. According
China fund linked to west Africa FLNG project The floating gas units will be leased to New Age and be deployed off Cameroon and Congo
Rising bunker and charter costs send Zim into red Despite improved revenues on the back of record-breaking volumes, Zim slumps to loss in 2018
Iran oil exports on the rise as national tanker fleet reflags The revival in Iranian oil shipments in February coincides with 36 National Iranian Tanker Co tankers switching their flag registry...
Norway may extend scrubber ban Nordic American Tankers used the latest ban by Norway to justify its view about not investing in the exhaust gas...
Shipping businesses must learn how to collaborate Speakers at the opening panel session at the Informa Connect Green Ship Technology/Shipping 2030 conference in Copenhagen identified collaboration as...
Euronav says 2019 will be 'turning point in the freight market' Company confirms $110m loss for 2018 but fourth quarter smoothens the landing. It believes the dynamic between supply and demand...
Hutchison Ports revenue climbs despite flat volumes Hutchison says its diverse portfolio ensures that it is well placed to respond to supply chain shifts that may stem...
HMM launches $136m scrubber fund New $136m fund will allow for retrofitting of exhaust-cleaning equipment on 19 vessels and new systems on newbuilding fleet
Vale suspends operations at Alegria mine The miner expects the maximum potential impact from the stoppage to be no more than about 10m tonnes of iron...
ATI posts record volumes on resilient economy The rebounding Philippines economy pushed ATI to record volumes in 2018, which in turn drove net income 16% higher to...
Viewpoint: Stuck in the bunkers A degree of unacceptable risk is attached to the taking of bunkers, with the onus on operators to prove the...
Daily Briefing IMO under pressure to tighten 2020 reporting | EU challenges governments to prove sulphur cap enforcement | PSA's Polish project...
Container safety campaign focuses on dangerous goods TT Club's Cargo Integrity campaign focuses on safety issues related to the incorrect processing of dangerous goods
NWSA sees decreased container imports along with other West Coast ports The falling volumes at NWSA are much in line with the experience of other US West Coast ports
Dwell time slackens in the San Pedro Bay ports for now Cargo owners were in a rush to ship everything quickly to beat the start of the tariffs implementation and that...
Dieter Berg joins internet of things company Concirrus Ex-Munich Re executive to help promote big data to the marine insurance industry - and win over cynics
Run of multi-month charters injects energy into LNG market But fresh transactions have yet to revive flagging spot market rates as tonnage overhang continues
Sasaki Shipbuilding plans to break into LNG segment Hiroshima-based yard targets orders for small LNG vessels with type-C cargo tanks
Bulkers Shipbroking split spawns new S&P and newbuild brokerage in Greece Shipbroker Koulis Theodorakakos, co-founder of Bulkers Shipbroking Co, has left the company, taking another four of its employees into a new shipbroking venture with him. Anchor Shipbroking Inc, the new outfit he founded, has started operations in Piraeus. Theodorakakos's partners in the venture are Michael Spiliopoulos, Kostas Theodorakakos, John Tsigaridis and Stavros Zaglakas - all formerly a
M/Maritime fleet grows again with kamsarmax bulker buy Greece's M/Maritime has added a Japan-built kamsarmax bulker to its fleet, according to brokers' reports. The Athens-based owner has purchased the 81,100-dwt Puppis Ocean (built 2014) from Mitsubishi Corp's Singapore subsidiary Diamond Star Shipping for a reported $24m. VesselsValue.com estimates the ship's current market value to be around $22.05m. Barely two years old, M/Maritime has grown i
Celsius Shipping cuts new turf in the product tanker market with Interorient deal Jeppe Jensen has again taken Celsius Shipping into new territory with the purchase of an LR2 tanker from Interorient, brokers say. Celsius Shipping grows MR tanker fleet with ship number seven Celsius Tankers adds two more LNG carriers at Samsung While the deal sees Celsius enter the sub-sector, Interorient will exit the niche with the sale of what is its largest tanker. Shipbrokers have this
Hyundai Mipo Dockyard poised to net second raft of Project Solar tankers A lone shipowner is in final talks with South Korea's Hyundai Mipo Dockyard (HMD) for up to eight MR tankers, which are being discussed under Shell's huge Project Solar order for up to 30 newbuildings worth more than $1.2bn. Shandong Shipping steps up to order tankers for major Shell newbuilding project Shell sweeps into market for 30-strong tanker newbuild haul Newbuilding brokers say discus
Night out ends in rescue for drunk crew A drunken night out ended in a rescue mission after three seafarers from a Russian cargoship were stranded on an island off the UK. The crew from Russia, the Netherlands and the Philippines, had been out on the town in Barry, Wales, on Wednesday night. They were reported missing from their anchored vessel off Minehead and a major search and rescue was launched. It turned out they had taken the
Zim heads further into the red due to impairments Israeli container line Zim has steamed further into the red for 2018 despite rising revenue. The boxship owner said the net loss was $46m in the fourth quarter, including an impairment loss of $38m relating to vessels classified as held-for-sale. This compares to a deficit of $9.7m a year ago. Zim confirms containership demolition sale The annual loss was $119.9m, against profit of $11.4m in 2
Global Ship Lease aims for reverse stock split London-based Global Ship Lease (GSL) is to carry out a reverse stock split to boost its price. The NYSE-listed owner will combine eight shares into one, cutting the outstanding number from 79.5m to 9.9m. It received a notice in November that it was no longer in compliance with the NYSE's continued listing standards due to its price being below $1 for 30 consecutive trading days. The stock was
Vitol, GoodFuels step up biofuel drive Vitol-backed Varo Energy and GoodFuels are stepping up their biofuel drive for shipping. Varo subsidiary Reinplus Fiwado Bunker (RFB) and the Dutch producer have extended a partnership forged last year to improve availability of biofuel oil (BFO) to deep sea vessels leaving from Rotterdam. CMA CGM to trial biofuel for boxships Varo will help boost the sourcing, production, blending and distribu
Millennial delivery bubble will help VLCC demolition pop The clock is ticking on 100 VLCCs despite expectations of a rising freight market, according to one leading shipping analyst. Greg Lewis of BTIG has walked back his own belief large tankers are only scrapped when rates are below mid-cycle levels. VLCC scrapping set for respite before regulation-driven spike Tanker scrapping hits highest level in over 30 years Rodgers urges owners to drain mark
MSC charters Zodiac Maritime boxship newbuilding quintet First five in series of 13 neo-panamax vassels expected to be fitted with dual-fuel engines and Hyundai-designed scrubbers
Shandong Shipping to delist from Chinese OTC market for overseas IPO The $2bn owner, controlled by local authorities, has taken another step towards a fully fledged listing.
SunStone Ships poised to order more cruiseships at China Merchants Heavy Industry Boss Niels-Erik Lund praises China Merchants and Ulstein for high quality workmanship as first in series is launched
GasLog newbuilding secures long-term charter with Endesa but will trade spot in 2019 GasLog has secured long-term employment for another of its LNG carrier newbuildings, this time from a Spanish utility company. Endesa has booked the 180,000-cbm GasLog Warsaw for a firm period of eight years, commencing in May 2021, plus two optional extension periods of six years each. The newbuilding is expected to be delivered from Samsung Heavy Industries in July this year, when it will begi
Russian cabotage move places Zvezda LNG carrier order in doubt A Russian cabotage exemption decree has placed a question mark over Novatek's order for 15 LNG carriers at the domestic Zvezda Shipyard. Zvezda Arctic LNG 2 newbuild subsidies could hit $875m The producer will be able to export Yamal LNG through the Northern Sea Route on foreign ships, according to a decree signed by prime minister Dmitry Medvedev this week, the Vedomosti daily report. A total
Anthony Veder boosts fleet with triple buy in one week Dutch shipowner heads into leading position among small-scale LNG carrier players
Private equity overhang gives shipping shares a hangover Stockholders that are still stuck in large positions years after jumping in during the last market downturn can now make investors wary of betting on listed owners
Vale and Cyclone Veronica deliver fresh blows for depressed dry bulk market Vale has delivered more bad news for the capesize market at a time Cyclone Veronica is set to whip up some short-term headwinds off Australia. Golden Ocean stock springs back with Vale iron ore volumes set for boost Vale puts capesize bulker on the market as scrapping accelerates Andi Case highlights 'massive misvaluation' of shipping companies in capital markets While word of the pending retu
Nes optimistic after fixing PSV trio Norway's SD Standard Drilling is hopeful of better times ahead for the platform supply vessel (PSV) market into the summer after finding new work for three vessels. Standard Drilling fixes final PSV on term deal It said it had signed deals amounting to up to 470 firm days, with options for another 265 days. Terms remain confidential, but the owner said they would result in positive EBITDA after
Berge Bulk and Vale scraps bulkers in hot demolition market Berge Bulk and Vale have wasted no time in selling a giant bulk carriers for demolition in a hot market. The Singaporean shipowner and the Brazilian miner placed ships on the market earlier this week and are now understood to have sales in place. James Marshall's Berge Bulk has sold the 263,000-dwt Berge Manaslu (built 1992) at a price of $457.50 per ldt, translating to more than $18m. It comes
Scrapping over green recycling is well worth the prolonged fight Leading yards show that safe and environmentally sound ship demolition makes good business sense - and owners who dodge their obligations should be named and shamed
Russia prepares to start up new LNG production plant A new Baltic-based LNG production plant is expected to export a first cargo within weeks as Russia starts to supply its first volumes aimed at the LNG bunkering sector. Russian energy company Novatek, which is working with Gazprombank on the project, has started production at its Cryogas-Vysotsk LNG plant. The 660,000-tonne-per-annum facility is 150 kilometres (93 miles) north-west of St Petersbu
FFA market turns back clock with new Baltic grains route Brazil-China soybean route intended to herald a fresh FFA liquidity, says FIS boss John Banaszkiewicz
Moundreas-backed NGM Energy sheds 21-year-old suezmax tanker Moundreas family company NGM Energy is disposing of a 21-year-old suezmax at a firm price. The 159,200-dwt La Mer (built 1998) is being sold to unidentified buyers for $11.1m, Greek brokers reported earlier this week. NGM Energy declined to comment. NGM locks aframax tankers into one-year time charters The sale price is not far below the $14.5m Moundreas spent to purchase the vessel more than
d'Amico International Shipping in $50m equity raise backed by founding family Italy's d'Amico family is supporting a second equity raise by d'Amico International Shipping in three years. Major shareholder d'Amico International SA is underwriting a $50m share issue, which follows on from a similar move in the summer of 2017. d'Amico International Shipping extends renewal with sale of joint-venture tanker d'Amico International Shipping eyes share issue Paolo d'Amico, chie
Court management confirmed for yard group JES Singapore-listed shipbuilder JES International Holdings has had its judicial management application accepted. The Chinese group has been placed under the court-led management of Yit Chee Wah from FTI Consulting. Yit previously oversaw the judicial management of bulker owner Mercator Lines, which ended in the winding up of the company. Trading in JES shares has been suspended on the Singapore Ex
SITC linked to Johs Thode boxships SITC has been linked to an en-bloc purchase of two boxships from Germany's Johs Thode. Brokers said the 1,049-teu Hanse Endurance and Hanse Energy (both built 2008) have gone to the Asian line for $7.8m each. VesselsValue assesses them as worth $6.83m and $6.77m respectively, suggesting a firm price and a buoyant market for second-hand feederships. The vessel were built at Dae Sun in Korea. Th
Rogue waves getting bigger off US Potentially deadly rogue waves are getting bigger off the US, a scientific study has found. The research, published by Nature, studied the ocean off the west coast using 15 buoys between 1994 and 2016. "Rogue wave occurrence displays a mostly decreasing trend, but the relative height - or severity - of the waves is increasing," the study said. "We also identify seasonal intensification in rogue
HMM launches $136m scrubber fund Korean owner HMM is launching a scrubber installation fund with a range of domestic partners. It said the "win-win" financing also involves state financier Korea Ocean Business Corporation (KOBC) and Hyundai Corporation, as well as SK Trading International (SKTI). DSEC, PANASIA and Multi Asset Global Investments are also taking part. The total investment is KRW 153.3bn ($136m), with HMM pumping
Gibson rejigs LNG play but presses pause on spot business Gibson Shipbrokers is retreating from the LNG spot market but has bolstered its consultancy offering and is biding its time on when to expand in the sector going forward. Managing director Nigel Richardson confirmed to TradeWinds that his daughter, Lucinda, who had been fronting up the brokerage's LNG activities for the past three years, has left the company to spend time in Australia. Howe Robi
Tufton Oceanic Assets dismisses demand headwinds with further growth in store Tufton Oceanic Assets has dismissed slowing global demand growth as a manageable headwind in an ongoing shipping market recovery. London-listed Tufton will continue to expand its fleet despite a dip in demand expectations, with opportunities identified in three segments where it is already active. Tufton Oceanic raises $50m for more buys Tufton Oceanic Assets bullish on investment opportuniti
Turkey to relax Dardanelles transit rules for tankers Government group works to smooth traffic flows after congestion peaked last month
UK faces paying out millions more in Brexit ferry fiasco Not content with having to pay Eurotunnel £33m ($44m) to settle a court case brought as a result of a "secretive" award of ferry contracts in the event of a no-deal Brexit, the UK is now facing an even bigger bill. It could have to pay another '28m if, as seems almost certain, parliamentary deadlock means its exit from the European Union is delayed past the 29 March deadline. Transport minister
Boxship 'troublemakers' are worst carbon culprits, says Greek study Containerships 'comprise 18% of tonnage but are responsible for 38% of global fleet's GHG emissions'
Turid Sorensen claims she was silenced by NAT boss Hansson Former Nordic American Tankers (NAT) finance chief Turid Sorensen has told a Norwegian court that she was silenced by chief executive Herbjorn Hansson, alleging he prevented her from talking about what she perceived as financial problems for the tanker owner. She told the local court in Sandefjord that New York-listed NAT was under financial pressure in 2017 and that the banks, in principle, cou
Molaris' Empire Bulkers set to cash in on panamax play Greek owner set to profit by almost $2m on sale of vessel bought three years ago
Topaz extends deals for 12 BP OSVs Dubai's Topaz Energy and Marine has stretched charter deals for 12 OSVs with BP. The ships are working for BP Exploration in the Azerbaijan sector of the Caspian Sea. Seven of the units will stay on charter until 2025, with three more contracted through to 2023 and the other two to 2022. Reach charters Topaz subsea newbuilding Topaz fixes subsea newbuild for wind farm work Two-year options ar
Giant 25,000-teu boxship takes shape A new 25,000-teu boxship design is under development in China. The record-breaking blueprint is being worked on at Cosco's Shanghai Ship And Shipping Research Institute (SSSRI). ONE claims new teu loading record from Maersk The work is part of a project guided by the ministry of industry and information technology. It complies with the strategic requirements of the "Made in China 2025" push, S
Hyundai Mipo lands Asian boxship order Korea's Hyundai Mipo Dockyard has clinched a deal to build three boxships worth KRW 120bn ($107m). Hyundai Mipo Dockyard reveals ambitions for 2019 It said the 2,500-teu vessels have been ordered by an unnamed Asian company. Deliveries will begin in the second half of 2020. Mipo is part of the Hyundai Heavy Industries group, which has won more than $1bn of orders this year. This amounts to 19
FSL Trust seals SGX approval "in principle" for fundraiser But permission dependent on several factors including backing of existing shareholders.
TT Club: Major boxship fire occurs on average every 60 days Insurer says 1.3m potentially unstable DG containers are be shipped around the world annually.
Trevor and Veronica disrupt Aussie commodity exports Extreme weather red alert issued as first of two cyclones hits Australia's northern coasts.
Eastern Pacific boxship newbuilding splurge confirmed MAN B&W says eleven ships will be split between conventional and dual fuel propulsion.
Report: Higher wages would end driver shortage Members of the ATA and OOIDA had differing views of the article published by the Bureau of Labor Statistics.
More 301 exclusions as Trump doubles down on tariffs The Office of the U.S. Trade Representative on Wednesday released a notice announcing Section 301 tariff exclusions for 33 additional product types.
Industry rallied for demurrage investigation final phase "What shippers most need to know - are desperate to know - is when their cargo is actually available for pickup," FMC Commissioner Rebecca Dye said.
Can automated vehicles improve port efficiency? The ITS MARAD study found off-site staging areas with autonomous shuttles or virtual gates offer ports the best benefit-cost ratios.
Hyundai Merchant Marine reaches deal to fund scrubbers
Socar sees commercial benefits from deal Azerbaijan participation in the production agreement will bear fruit beyond stabilizing oil prices
Flooding in southern Iraq could impact Majnoon oil output Iraq's Basra Oil Company is hoping last minute reinforcements to burst berms north of the 115,000 b/d Majnoon oil field will fend off increasing flood waters that have entered the area from nearby Iran.
Enterprise briefly shuts terminal after ITC fire Enterprise Products Partners briefly shut its liquefied petroleum gas terminal at the Houston Ship Channel terminals Thursday
Crude settles lower as market weighs economic outlooks against tighter supply picture
Gibraltar bunkering curtailed by bad weather conditions Operations at the Mediterranean bunkering hub of Gibraltar have been interrupted by bad weather
External: Global Risk Management
TRADER NOTE: OceanConnect hires VP of sales in US to focus on 2020 rule The new hire comes after a January announcement that Kumar Balian, also formerly of World Fuels, joined OCM's London office.
TRADER NOTE: Tony Song joins Gunvor Singapore on naphtha desk Song was previously with Socar for at least seven years as naphtha trading manager.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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