Vogel and Rodgers clash on scrubbers Marine Money conference in London hears opposing views ahead of introduction of IMO sulphur cap in less than a year's...
UAE tightens grip on Middle East Gulf transhipment business Khalifa port expects to double its throughput levels in 2019 to about 3m teu, but provisions are in place to...
Seafarers UK starts hunt for Bryant's successor Seafarers' charity with Royal patronage distributed £2.5m to 60 maritime organisations with 73 grants to seafarers and their families in 2018
Faulty pumps link to Kerch Strait LPG blast Video footage shows vessels still burning as fire-fighting tugs battle to extinguish the LPG-fuelled blaze
China and Brexit dominate shipping leaders' gathering Meanwhile, finance panel bemoans bank preference for big names over second tier, and discusses China's aggressive attempts to break into...
Eagle Bulk signs bulker deals The vessels that have been sold had drydocking and ballast water treatment systems due to be installed, resulting in savings...
Commitment to quality pays off for Bahamas Maritime Bahamas Maritime Authority has reported the lowest number of detentions ever recorded. This is the result of a commitment to...
UK shortsea capacity grows ahead of Brexit Even short delays for customs clearances could have a major impact on shortsea shipping, forcing importers and exporters to consider...
CMPort boosting investment in Djibouti free trade zone Middle East and Africa China Merchants Group Ports and Logistics
Greece adopts shipping programme for schools Project Connect finally brings well-tried 'Adopt-a-Ship' concept to world's largest shipowning nation
Daily Briefing Kerch Strait vessels blast death toll rises to 14 | Win or lose in the bunker shake-up | Jury out...
IMF global growth numbers sound alarm bells for shipping With shipowners' fortunes linked to the health of the global economy, the shipping industry is casting a wary eye over...
Brexit: 80% of UK ports unprepared, survey finds Nearly 60% of respondents now expecting negative impact, according to Odgers Berndtson, with only one in four of the opinion...
NuStar loses appeal to recover OW Bunker fuel bill A lien would have allowed NuStar a full recovery of payment owed, rather than the 25% to 40% they will...
Aegean directors: company will emerge more competitive Sales volumes have steadily increased over the past three months, said director of global trading Sal Drago
Port of Fujairah bans open-loop scrubbers Brief notice does not give a date for the ban to take effect or say whether closed-loop scrubbers are allowed
Study pushes business case for LNG newbuildings By looking at net present value of an investment in a 14,000 teu newbuilding, research group finds LNG offers the...
Honolulu crunch time looms for world's last sail-driven oil tanker Hawaii sets February deadline for decision on moving vessel to make way for new container terminal
Group cites 'fake news' in response to recent port bans Clean Shipping Alliance 2020 says harbours should not prohibit open-loop scrubbers given lack of scientific data
Costamare clocks up stronger than forecast profit Improved earnings come at end of a year which saw company invest $900m in extra tonnage.
Shipping safety takes a hit in dysfunctional government era US administration shutdown is hindering vital coastguard work with worrying long-term implications
Hats off to Hadjipateras and his CMA commodore crown John Hadjipateras will be the toast of the US East Coast shipping community later this spring when he is given the iconic bicorne hat to become this year's Connecticut Maritime Association (CMA) commodore. Hadjipateras, who is chairman, president and chief executive of Dorian LPG, will be cheered and teased in equal measure when he is honoured at the association's dinner in Stamford, Connecticut,
JP Morgan downgrades Scorpio Tankers, Tsakos JP Morgan has trimmed expectations for 2019 tanker rates, while revising its outlook on some of the sector's players. In a Wednesday morning note, analyst Noah Parquette rolled back his VLCC rate forecast from $25,500 per day to $23,000 and MR tanker rate forecast from $14,000 per day to $12,000, downgraded Scorpio Tankers and Tsakos Energy Navigation from overweight to neutral and upgraded Euron
Songa deal linked to Star Bulk stock slump Petros Pappas-led bulker owner's share tumble related to acquiring 15 ships from Songa Bulk in July, analyst says.
Authorities move to block award for whistleblowers Engineer who documented illegal oil discharges that led to a $3.2m fine told he should have reported crimes directly to US Coast Guard
Wilhelmsen to manage FSRU for newcomer Pardus Wilhelmsen Ship Management (WSM) has won a contract to manage Pardus Energy's new FSRU. The 170,000-cbm Turquoise, built at Hyundai Heavy Industries, will be handled by WSM in Malaysia. Wilhelmsen Ship Management targets UK market "We are extremely excited to be selected as the manager for this FSRU. This win further solidifies our position in the gas market and we expect further growth driven
Chinese lessors opening up in pursuit of profit CMB Leasing executive explains changing behaviour of Chinese leasing houses.
Braemar: pricing, design uncertainty to curb tanker newbuilding interest While bullish on overall tanker market prospects, global research head Henry Curra doesn't expect newbuilding orders to pick up significantly.
Thumbs up from Wall Street for Scorpio Tankers' reverse split Analyst who questioned New York-listed owner's move is now convinced it is a winner
Watchdog orders Solstad to revalue 140-ship OSV fleet Norwegian financial watchdog Finanstilsynet has ordered Solstad Offshore to revalue its fleet of 140 ships. The authority told the Sysla website that it believes the giant OSV owner broke accounting rules. The deadline for the company to respond is Wednesday. Ocean Yield in charter standstill deal with Solstad Solstad bondholders back company with interest freeze Christian Falkenberg Kode, se
ICG bags first EIB green loan of $176m The European Investment Bank (EIB) has awarded its first ever green shipping initiative loan to Irish owner ICG. The EUR 155m ($176m) facility will part-fund two new ro-paxes for the Dublin group, which runs Irish Ferries. This is also the EIB's first ever loan to ICG. The green initiative supports bids to to reduce emissions and improve fuel efficiency. ICG's 1,885-passenger newbuilding W.B.Y
Capesize woes push Baltic Dry Index back below 1,000 Capesize weakness has sent the key Baltic Dry Index (BDI) back down below the 1,000 mark for the first time since last April. The Baltic Exchange bulker assessment was down 54 points to 984 on Wednesday. The capesize index dropped 117 points to 1,775, as Clarksons Platou Securities blamed Chinese coal import restrictions for continuing to drive down rates. Winter slump drags Baltic Dry Index cl
SEA\LNG unveils new boxship-based LNG-fuelling study Independent report says LNG is only scaleable marine fuel that advances shipping's greenhouse gas (GHG) reduction objectives.
Southern California firm trims Seacor Marine position A southern California investment firm has cut back its position in Seacor Marine Holdings. Private Management Group sold more than 200,000 shares in the New York-listed offshore player, lowering its stake from 6.09% to 4.25%, Securities and Exchange Commission filings from Wednesday show. UPDATE: Seacor buys $46m PSV trio from Cosco yard According to its quarterly report filed last November, th
Cypriot fund is only bidder for Greece's Elefsis yard Cypriot fund Inter-M Traders has been identified as the only bidder for Greece's Elefsis shipyard. The Kathimerini daily said KPMG is conducting a tender for an investor in the yard on behalf of creditor Alpha Bank, in cooperation with the economy ministry. The offer is said to come with conditions, including the completion of the Greek navy's shipbuilding programme and the maintenance of the fl
Top shipowners enjoying cheapest debt in a decade Loan terms best since financial crisis with Basel IV set to tip the scales further.
TEN charters out suezmax to Stena Bulk US-listed Tsakos Energy Navigation (TEN) has clinched a period charter deal with Stena Bulk of Sweden for its 157,000-dwt tanker Eurovision (built 2013). The agreement is for 18 months at $25,000 per day. Tsakos bought the tanker as a resale from a Korean owner in 2012 for $52m. The deal lifts the number of suezmaxes in the Stena Sonangol fleet to 24 units. TEN has also reportedly clinched thr
Eagle Bulk confirms ultramax buy as it offloads more veterans US owner buys Chinese bulker for $20m while getting rid of 2001-built ships ahead of drydockings.
Nigerian export halt likely to be empty threat to LPG shipping Some market players are not expecting LPG shipping demand to be affected much due to the West African country's track record
Anchor-handlers crash back down to earth Rates for North Sea anchor-handlers have crashed back down after spiking in a sold-out market last week. Brokers report ships returning to port from charters. Earnings have dropped 80%, with fleet utilisation down to 52%. The annual average is 55%, according to broker Westshore. Clarksons Platou: demand growing for OSVs Nine of 16 vessels are free in Norway, with four of 11 available in the UK
Majority of UK ports 'unprepared' for Brexit Bosses at only 16% of UK ports have made "significant or practical plans" for Brexit. Executive search firm Odgers Berndtson quizzed leaders at 100 terminals to assess readiness for the country leaving the European Union. The majority of respondents had either carried out "only some high level planning" or had done nothing at all. UK flag blow as P&O reflags fleet ahead of Brexit "The ports in
Swedish port workers walk out Swedish port workers have walked out in a row over union representation. About 1,000 dockers took strike action on Wednesday at 15 terminals including Malmo, Gavle and Helsingborg, with those at Stockholm and Gothenburg due to follow suit later in the day. The Local website reported that the Swedish Dockworkers' Union (SDU) had been unable to reach a deal with port companies over collective barg
Addleshaw Goddard begins Asian maritime legal push London-headquartered firm Addleshaw Goddard has gained a foothold in Singapore's maritime law scene with the recruitment of former Ince & Co lawyer Ton van den Bosch as a partner on its corporate team. Van den Bosch was previously Ince's head of global terminals and maritime infrastructure practice as well as head of its energy and projects team in South and South East Asia. He begins at Addlesha
Kerch explosion ships linked to illegal trade The explosion in the Kerch Strait that killed at least 14 crew members during a ship to ship transfer between LPG vessels happened in an area known to be used by vessels carrying out illegal fuel transfers. The 4,811-dwt Maestro (built 1990) and the 4,444-dwt Candy (built 1992) were anchored off Cape Takhil in the Crimea, where sources say transfers regularly take place to avoid trade sanctions i
Sebjornsen becomes CEO at Indian technology company Former Bahri chief executive set to strengthen JM Baxi arm with artificial intelligence and machine-learning developments.
Chinese icebreaker embedded in iceberg Embed: Xue Long in the ice A Chinese icebreaking research ship has crashed into an iceberg in Antarctica. ABC reported that the 8,800-dwt Xue Long (built 1993) broke its mast as 250 tonnes of ice fell on the vessel. Nobody was injured in the incident. The ship was travelling at three knots in the Amundsea Sea at the time, according to China's ministry of natural resources. Crew used axes and
Jiangnan and Gasfin cut steel on FRU for Ghana LNG project China's Jiangnan Shipyard and Gasfin Development have cut steel on a 28,000-cbm LNG floating regasification unit (FRU) that is being constructed to serve a $350m LNG import project under construction in Ghana. NYK LNG carrier earmarked for FSU role in Ghana project The FRU, which is identified as Hull No 2621, is being built to work in combination with an existing LNG carrier that will serve as
K Line VLGC brings in first Ichthys LPG cargo A K Line vessel has imported the first Ichthys LPG cargo into Japan. The 79,513-cbm VLGC Grace River (built 2002) discharged the Australian gas at Fukushima in a deal with Astomos Energy Corporation. The Inpex project will be exporting 70% of 8.9m tons per year of LNG to Japan. It is also producing about 1.65m tons of LPG per year, as well as condensate, which will be carried by K Line aframaxe
ESL Shipping adds two brokers to chartering team Finnish bulker owner ESL Shipping has strengthened its chartering team with two new appointments. The move was made to respond to the requirements of a growing fleet and to serve existing and new customers even better, it said. Tommi Laukka was brought in as a shipbroker from 7 January. He has "long and wide experience" in chartering, agency and port operations, the company said. Julia Pugina
Torsten Teichert eyes comeback at Hamburg Chamber Former Lloyds Fonds management board chairman Torsten Teichert is the favourite to become president of the Hamburg Chamber of Commerce. Die Welt reported that the former shipping finance executive is up against Buss Group boss Johann Killinger in a vote on Thursday. The majority of members spoke in Teichert's favour at a closed session on Sunday. Former Chamber head Tobias Bergmann resigned on
Thomas Miller cargo-loss case prompts judicial rethink A UK high court judge has kicked out an indemnity case involving underwriter Thomas Miller that arose from a cargo loss 10 years ago. The legal battle prompted Justice Stephen Males to propose a more streamlined procedure to ensure that such costly oral hearings do not effectively become full hearings. The judge said in most cases hearings should last no more than 30 minutes and there should be
Courage Marine expects to report full-year loss Hong Kong-listed bulker owner has been hit by the volatility in global stock markets.
Dampier faces potential closure in face of storm Authorities say tropical low currently located over the Timor Sea is expected to become category 2 cyclone.
Emirates National Oil sells MR2 tanker pair to China Emirates National Oil Co (ENOC) has ended its direct involvement in tanker shipping after selling its two product tankers to Chinese interests. The Dubai-based oil company's 46,500-dwt, IMO type 2 MR tankers Falcon Grace and Falcon Victory (both built 1999) are joining the fleet of China's Zhejiang Changchang Shipping. While Zhejiang Changchang officials confirmed the deal to TradeWinds, they de
Win More seeks High Court backing for release of tanker Hong Kong owner tells local high court of its frustration in waiting for flag state to act on releasing its tanker held in detention in South Korea
Detention, demurrage 'pain point' in international trade National Industrial Transportation League panel focuses on ways to reform charges.
Commentary: Don't play Russian roulette with rules U.S. exporters may be tempted to prematurely re-engage with three Russian industrial giants reportedly relieved from Treasury sanctions before knowing all the facts.
Majority of U.K. ports unprepared for Brexit
Great Lakes carriers move 83.7 million tons in 2018
Executive Moves: Transplace and LSO
Wilmington marks first export shipment of Ford vehicles
ICE delays launch of 0.5% sulfur marine fuel futures and others on US shutdown
Sinopec refinery starts producing IMO-compliant bunker fuel oil The first batch of the LSFO, about 6,000 mt, was delivered on Wednesday morning.
Japan's Showa Shell, Fuji Oil to lift another 2 mil barrels Iranian crude The latest lifting comes days after Fuji Oil and Showa Shell loaded the first Iranian crude oil cargo to be lifted by the Japanese refiners, as well as by Japan, since the country won the 180-day sanctions waiver on November 5.
ANALYSIS: OPEC cuts amplify supply side imbalances in crude oil There is an "assumption that oil is a homogeneous market. It is not," an analyst at a European refiner, an analyst at a European refiner said.
Fujairah bunker demand picks up as price spread to Singapore widens: sources "Some of our customers have gone to Fujairah to take bunkers instead as prices are more attractive there for now," a trader said.
Fujairah bans use of open-loop scrubbers in port waters as IMO 2020 looms "Ships will have to use compliant fuel once the IMO 2020 sulfur cap comes into force," the port said.
Rotterdam bunkers surpass six-week high on tighter supply, export demand Increased demand from Singapore and Saudi Arabia supported counter-seasonal strength in the European HSFO market.
Ocean Tankers says bunker spill clean-up at East Anchorage Singapore completed A bunker fuel spill occurred was spilled when SJ was supplying 2,800 mt of 380 CST marine fuel oil to Mt Ridgebury Purpose.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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