Euronav opts for Ecochlor BWMS Maynard, Mass., headquartered Ecochlor,Inc., has won a contract to supply seven Euronav Suezmax and VLCC tankers with ballast water management systems (BWMS). The agreement comes with an option for Euronav to purchase
LHA 7 completes builder's trials The U.S. Navy's newest America-class amphibious assault ship, the future USS Tripoli (LHA 7), successfully completed builder's trials July 19, reports NAVSEA. The ship returned to the Huntington Ingalls Industries (HII)-Ingalls Shipbuilding
CSL sends 60 year old laker to Turkish recycling yard Canada's CSL Group reports that the bulk carrier Eda, formerly known as Cedarglen, departed the Port of Montreal for the last time July 21, 2019, bound for an eco-friendly recycling yard in
Sweden's largest hybrid car ferry ready to enter operation Estonian shipyard Baltic Workboats has delivered the Tellus, Sweden's largest hybrid-electric car ferry. Commissioned by the Swedish Transport Administration, the ferry will mainly operate inn fully-electric mode, bringing the government agency closer
Mid-life makeover will see sailing clipper emerge as UN green ambassador Damen Shipyards Den Helder, Netherlands is to carry out a midlife maintenance program on the iconic sailing clipper Stad Amsterdam that will prepare the ship for a round the world voyage as
U.K.-interest ships told to avoid Strait of Hormuz As Iran continued to detain the Swedish-owned, U.K.-registered tanker Stena Impero, MARAD issued a Maritime Alert advising U.S.-flag ships to exercise caution when transiting the Strait of Hormuz area Meantime, President and
Time for cruise lines to swap out first-generation BWTS? French UV-based water treatment specialist Bio-UV Group has secured a contract with Columbia Cruise Services to retrofit a Bio-Sea ballast water treatment system to the Hapag-Lloyd Cruises' Europa. French UV-based water treatment
GE names Shepherd GM of marine gas turbine biz Kris Shepherd has been appointed the General Manager of GE's marine gas turbine business; he is based in Evendale, Ohio. Shepherd is responsible for the full lifecycle of all GE marine gas
Inland dredging wins $16.7 million USACE contract The U.S. Army Corps of Engineers, New Orleans, La., has awarded Inland Dredging Co. LLC, Dyersburg, Tenn., a $16,744,000 firm-fixed-price contract for furnishing one fully-crewed and equipped hydraulic pipeline cutterhead dredge on
Owners seek UK flag switch as Iran threat strands ships in Gulf Any flag switching by oil traders and charterers keen to avoid the spotlight of Iran in the Strait of Hormuz...
Scorpio Bulkers reports second-quarter profit boost Company's president Robert Bugbee tells analysts that its net asset value is rising because the rates fixing currently will lead...
Rising demand boosts Europe - Sub-Saharan Africa utilisation The Europe - Sub-Saharan Africa trade has seen significant capacity upgrades in recent years
UK wants European-led naval mission to ensure safe shipping through Strait of Hormuz Foreign Secretary says in a Commons statement that European-led maritime protection mission will 'complement' a US proposal for an international...
War risk rates steady despite Middle East Gulf shipping threat 'We are holding our nerve, but if there are more incidents, the possibility of increases can't be ruled out,' said...
Changing Lanes: African Union seeks a united trade front The initial AfCFTA was ratified in May covering an population of 1bn people and a collective GDP of more than...
Emas Offshore applies for bankruptcy protection Coming under judicial management will give the company some breathing space as it seeks to restructure its debts
Capesize bulker revenues climb to 14-year high The bullish sentiment in the capesize sector has reverberated to smaller vessel segments
Carrier peak season fortunes in the balance Asia-Europe carriers are facing a capacity glut in the third quarter of the year, as transpacific carriers look to other...
Daily Briefing All the latest on the Iran tanker seizure | Plus - Why shipping is keeping quiet on Brexit and an...
Cosco Shipping and China Mobile team up on 5G Cosco Shipping Ports and China Mobile Research Institute (Shanghai) also sign a letter of intent to co-establish a smart port...
PetroChina and Eni bid for multi-billion Pakistan LNG contract Pakistan emerges as a fast-growing LNG importer, posting the fourth-fastest incremental growth in absolute tonnage terms in 2018
Magnolia LNG developer to move listing from Australia to the US LNG Ltd seeks valuation improvement from Nasdaq listing. The move is expected to help raise funding the LNG developer needs...
South Korean bulker attacked by pirates in Singapore Strait South Korea's Ministry of Maritime Affairs and Fisheries has warned all South Korea-flagged vessels in the vicinity to stay alert
US aims to form Gulf coalition to protect international shipping The US hopes that countries participating in the proposed coalition will send warships to ensure safe navigation for commercial shipping...
UK to reveal shipping security response to Stena Impero seizure This is an international problem that requires an international solution, argues UK Chamber of Shipping as UN Security Council is...
Bugbee: Scorpio bet kamsarmaxes on 'stronger times' President Robert Bugbee explains why Emanuele Lauro-led bulker owner chartered in four of the vessels through a sale-and-leaseback deal and offloaded two ultramaxes.
Marshall Islands urges European Union to give it a break on tax Registry says it deserves to be removed from tax blacklist at the earliest opportunity, after promising, once again, to clean up its act
Hungry Chinese snap up Anbros Maritime's oldest bulk carriers Greek owner offloads pair and turns its focus to fleet renewal
Bourbon asks to suspend listing as creditors seek $800m French OSV giant Bourbon is asking that its shares be temporarily removed from trading while the troubled company looks to address hundreds of millions of dollars in debt. The company's board of directors today "acknowledged" some of Bourbon's group affiliates have "addressed" a credit payment request or contractual allowances totaling about $800m. "Bourbon Corp, as a guarantor of part of this a
Pangaea continues fleet build with supramax buy Ed Coll-led niche-market specialist Pangaea Logistics is boosting its fleet again through the acquisition of a secondhand supramax from the fleet of Japan's K Line. The Newport, Rhode Island-based company is acquiring the 58,700-dwt Nantong K (built 2008) as it continues to grow and modernise the fleet, market sources said today. The sale price was not immediately available, but VesselsValue pla
Scorpio Bulkers books strong results as it takes on tonnage Scorpio Bulkers has had a positive second quarter, beating analysts' estimates and booking strong paper profit on its much-maligned investment in its product tanker sibling. Scorpio Bulkers' sale of sister company stake would be 'positive' The New York-listed shipowner has added to its operated fleet and is divesting more of its owned tonnage, according to its latest financial report. Scorpio
Eagle Bulk Shipping sells supramax as liquidity returns to S&P market Eagle Bulk Shipping has taken advantage of rising liquidity in the sale and purchase market to offload one of its older vessels, sources say. The move extends a long-running fleet renewal effort at a time the shipowner is preparing to install scrubbers on modern assets to meet IMO 2020 rules. CEO: Eagle Bulk spared 'contagion' of capesize woes 'Electric' capesize bulker rates climb to highest l
Bunge, BP partner up to form Brazilian bioenergy company US bulker charterer Bunge has found a sweet spot in energy production. The agricultural commodities trader is partnering with energy giant BP to create a Brazilian bioenergy company focused on turning sugar into biofuels. Bunge will receive $775m - $700m in collateral debt and $75m from BP - through the a 50-50 joint venture called BP Bunge Bioenergia. Bunge said the proceeds will be used to lo
Tanker traffic retreats as political tensions escalate in Middle East Tanker owners have pulled back from the Middle East Gulf in the past month amid growing tension in the world's prime oil shipping route, data suggests. The apparent retreat comes following attacks on two tankers in June and ahead of Iran's seizing of the 50,000-dwt Stena Impero (built 2018) on Friday which escalated hostilities in the region. Iran strikes in Strait of Hormuz as Middle East tanke
Iranian MPs call for Hormuz tolls on shipping Parliament also backs seizure of Stena Impero tanker in Gulf.
Diana Shipping keeps on with Cargill Diana Shipping has secured its second Cargill charter within a month, its third in four months. The Simeon Palios-led bulker owner has continued a time charter contract with Cargill International for one of its kamsarmax dry bulk vessels. The Swiss commodities trader will employ the 82,131-dwt Myrto (built 2013) for nine months to 11 months at $14,000 per day, less a 4.75% commission to third pa
Court rejects $45m Estonia disaster claim against BV Survivors and victims' families were suing Bureau Veritas and Meyer Werft over 1994 sinking.
Middle East tanker tension to lift insurance premiums but not spot rates The proportion of UK-linked tankers is small so their withdrawal from Middle East won't matter much to freight earnings, according to market participants
EMAS Offshore asks for court management Failure of rescue deal prompts filing in Singapore.
AP Moller-Maersk eyes next $500m in second stage of share buyback AP Moller-Maersk is eyeing a further $500m in share buybacks having made short work of the first tranche of the programme. AP Moller-Maersk buyback passes $600m with latest swoop Denmark leapfrogs US to become world's fifth largest shipping nation The world's largest shipowner today revealed it had repurchased $225m worth of its own stock last week, taking its summer investment in its equities
Swedish Club braced for Stena Impero claims after Iran seized tanker Gothenburg-based mutual provided war risk cover for hijacked vessel. Market awaits impact of latest Gulf attacks
Saudi Arabia releases Iranian tanker while condemning Stena Impero action Saudi Arabia has handed back a tanker owned by Iranian state shipping company NITC which has been docked in Jeddah since May - while condemning its rival for taking a Stena Bulk vessel on Friday. Iran strikes in Strait of Hormuz as Middle East tanker tensions explode Reuters reported the 300,000-dwt Happiness I (built 2003) was released this weekend, with Iran's Foreign Ministry thanking Saudi a
Bimco reveals new guidance after seizures Shipowners organisation says navies must know of transit plans in Strait of Hormuz.
UK: we cannot escort every British ship Theresa May's spokesman says US has not offered help with protection in Gulf, while the UK Chamber of Shipping says an "international solution" is warranted.
Conbulk Shipping picks up Borealis sub-panamax boxship Clients of Greece's Conbulk Shipping have emerged as buyers of a sub-panamax that Borealis Maritime sold earlier last week. London brokers and owning sources in Greece said the 2,478-teu Strauss (built 2005) is joining the fleet of Piraeus-based Conbulk. The ship is believed to have changed hands for about $8.2m, as TradeWinds reported on 18 July. Borealis sells second sub-panamax in two months
Bill could harm offshore revival and hurt Jones Act sector Coast Guard Authorization Act could scuttle projects if they cannot obtain waivers
Teekay brand lives on in Brazil - but under new ownership Independent offshore owner carries on the name in Rio de Janeiro, if not the Teekay Corp's ownership structure
Could anti-piracy measures have saved Stena tanker? Lawyer Stephen Askins asks whether anti-piracy methods are valid against state aggression
Lines splash out billions on mega-makeovers for cruiseship giants Yards are being kept busy giving the industry's biggest vessels a new lease of life
Greek shipowners target LNG amid strong outlook and increased spot market activity Hellenic shipping names control over 40% of new LNG ships on order, more than double their share of the trading fleet, according to figures from Clarksons
NOC halts crude tanker loadings at Zawiya Libyan producer hit by unlawful valve closure at Sharara field.
UK considers response to tanker seizure Prime minister Theresa May to chair emergency meeting as assets freeze mooted.
Panama de-registers seized Riah Flag state says it will not tolerate illicit activities following Iranian allegation of oil smuggling.
Robbers target Korean bulker near Singapore Strait Incident involving seven armed pirates occurred early Monday, say government officials
Go Chinese in Middle East Gulf charterers advised China-controlled ships offer "lowest risk of interruption" within the Strait of Hormuz, says Dryad Global.
Canada Steamship sends 60 year veteran for 'green' scrapping Great Lakes-based shipowner says vessel's disposal is part of fleet optimization program
Little US-EU progress on industrial tariffs The EU's new director-general for trade made the comments during an event at a Washington, D.C., think tank Monday.
IMO 2020 safety concerns surface The International Association of Dry Cargo Shipowners points out a lack of low-sulfur fuel for testing and limited crew training.
Automated terminals' speed, ease touted TraPac says it offers the fastest option for trucking containers.
FMC's shipper commissioner Louis Sola joined the Federal Maritime Commission earlier this year with the goal of working with industry to tackle inefficiencies in the U.S. container supply chain.
CBP sharpening export manifest process Customs and Border Protection says full implementation of Electronic Export Manifest will bring efficiency to overseeing the risk and security of U.S. outbound cargo.
FUEL FOR THOUGHT: IMO 2020 hit to WCS softened on continued demand, changing market A surging differential for Western Canada's benchmark heavy crude has traders and analysts wondering if predictions that tighter sulfur requirements for marine fuel next year will devalue the country's oil assets are overblown.
FUTURES 5: Oil complex mostly higher on Middle East tension Crude futures rose marginally Monday on reverberations from events in the Middle East and prospects of improved demand growth.
RUSSIA DATA: June fuel oil exports down 5.7% on year to 2.492 mil mt Russian fuel oil exports in June fell 5.7% year on year to 2.492 million mt while domestic deliveries were up 0.8% to 0.844 million mt.
External: Global Risk Management
DUBAI FUTURES: Middle East crude tracks higher after Iran's seizure of ships The UK-flagged Stena Impero cwas attacked Friday by "unidentified small crafts and a helicopter", escalating tensions in the region.
Japan's MOL maintains advisory for UK-related vessels to keep distance from Iran coast MOL has advised its ships with UK-related flags to avoid navigating the Iranian territorial water and keeping the distance along the coast as much as possible.
Asian HSFO supply likely to remain tight in Aug on low arbitrage inflow "The market will remain tight at least until the first half of August," said a Singapore-based trader.
Standard Club updates guidance after tanker attacks in Fujairah, Gulf of Oman Before vessels enter the region, it is recommended that members review their hull and machinery, war risk and P&I policies, the Club cautioned.
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