VT Halter Marine wins Polar Security Cutter contract VT Halter Marine Inc., Pascagoula, Miss., has been awarded a $745,940,860 contract for the detail design and construction of the U.S. Coast Guard (USCG) Polar Security Cutter (PSC) (formerly the Heavy Polar
Qatar Petroleum plans to build 100 or more LNG carriers Qatar Petroleum has issued an "invitation to tender" for the reservation of the shipbuilding capacity required for the construction of the 100 or more LNG carrier newbuilds required for its North Field
New Wärtsilä waterjets picked for Trinidad & Tobago cat Wärtsilä has won its first order for its new WJX series of waterjets introduced in early March. Four WXJ1200 waterjets will power the 100 m long, wave-piercing catamaran ferry ordered from Incat
Walter Blessey honored for meritorious public service Walter Blessey, Jr., Chairman and CEO, of Harahan, La., headquartered Blessey Marine Services, Inc., has been awarded a Coast Guard Meritorious Public Service Award. He was presented with the award by Rear
Wallenius-SOL orders LNG fueled RO/ROs A new Swedish shipping company has ordered a series of LNG fueled newbuilds at Chinese shipbuilder CMC Raffles that will be the largest RO/RO vessels thus far built to Finnish/Swedish Ice Class
$4.5 million boost for Rhode Island offshore wind Ørsted U.S. Offshore Wind and Eversource - the team behind the Revolution Wind project - have pledged $4.5 million to support offshore wind education and supply chain development for the growing offshore
OSU exercises option for third research vessel Oregon State University (OSU) has received an additional award of $108.12 million from the National Science Foundation to manage the construction of a third Regional Class Research Vessel and has exercised an
Bolivia to invest in Argentina LNG terminals New terminals will facilitate greater gas sales from Argentina's Vaca Muerta shale play
Mandatory e-charts cut risk of CMA CGM Libra re-run, UK Club argues 'Whether ultimately the use of an electronic chart would have prevented the grounding is a moot point, but it is...
Wallenius and SOL form shipping company Swedish companies combine to service northern Europe with LNG-powered ice classed ro-ro ships up to 30,000 dwt
US oil waivers end as Iranian crude exports slump in April UPDATED: Brent crude traded as high as $74.67 per barrel on Tuesday morning, although it later steadied to $74.12 on...
GasLog appoints Enoizi to fill Sadler gap Paolo Enoizi is the new chief operating officer of liquefied natural gas carrier owner GasLog and its separately listed spin-off...
Cosco Shipping Energy Transportation names Liu as chairman Liu was previously the general manager of CSET, having joined the company in 2016
HMM chief in Europe to enhance partnership with 2M Mr Bae, who has just become HMM's chief executive and president in March, is in Europe this week visiting clients...
High US retail inventories threaten to dampen transpacific growth Growth on the China-US trades could be muted this year as retailers try to lower inventory levels pushed up by...
Thailand set to sign LNG supply deal for up to 1.5m tonnes per annum Expansion plans are meant to prepare for Thailand's gas import needs for the next 30 years
Velesto Energy wins $105m Petronas Carigali contracts The latest contracts should help improve rig utilisation, but at long-term rates not much better than previous ones
SHI wins rare FPSO newbuild Floating unit is scheduled to be delivered to an Asian owner in March 2022
Qatar seeks to build 100 LNG carriers The orders will see initial delivery of 60 LNG carriers in support of the planned production expansion, with a potential...
Qatar Petroleum forges naphtha supply deal with SCG Chemical Qatar Petroleum is pushing for more direct sales to established end-users. Long-term supply contracts in Asia have so far mainly...
Mitsubishi and NYK Line to take delivery of LNG carrier in May Asia Pacific North America Japan
Tanjung Bruas receives first boxship Tanjung Bruas Port is surrounded by more than 500 companies operating within Malacca's industrial parks, according to MMC Group's website
ExxonMobil to supply LNG to Zhejiang ExxonMobil shares Zhejiang Energy's vision in developing a major LNG gateway in the Ningbo-Zhoushan region
Costamare eyes surge in rates for larger boxships Costamare's latest earnings report highlights the lift-off in post-panamax boxship rates in recent weeks with several stand-out fixtures amid good...
Danaos opts for reverse stock split The move will reduce the number of outstanding Danaos shares of common stock from about 213m to about 15.2m shares
Port Arthur LNG receives federal authorization Sempra welcomes the progress towards its goal of becoming the largest exporter of North American liquified natural gas
Driftwood receives FERC authorisation The Driftwood project includes a 27.6m tonnes per annum export facility and a 96-mile pipeline
Stellar Daisy loss due to 'catastrophic' structural failure A Marshall Islands report says the structural failure was due to a combination of factors including corrosion, structural defects and...
Global Ship Lease inks Maersk charter Ian Webber-led owner may gross almost $10m off 20-year-old post-panamax.
US safety detentions went up in 2018 The number of ships detained over safety issues by the US Coast Guard ticked upward last year, according to the agency's annual port state control report. Safety-related detentions totaled 105 in 2018, up from 90 in 2017 and 98 in 2016, but down from a 10-year high of 201 in 2015. The bump comes even as the number of examinations dipped to just above 9,000. Eleven of those 105 are in merit appea
Transmed entrusts its VLCC Atherina to Navig8's VL8 pool Navig8 has confirmed it has won Greece's Transmed Shipping as a client, announcing it has taken the company's single and recently acquired VLCC under management. The 319,400-dwt Atherina (built 2011) has entered its VL8 pool, Navig8 said on its website. The ship becomes the 20th committed VLCC to join the fleet, according to the statement. This was not the first Transmed vessel to be entrusted t
US creates strong tailwind to boost offshore vessel demand Partnerships between European and US maritime outfits are seen as key to providing Jones Act ships for burgeoning renewables sector
LNG-powered Wessels Reederei boxship receives Baltic's first ship-to-ship fuel The first ship-to-ship LNG fuel transfer in the Baltic is being hailed as a major step forward for gas-powered vessels. On Sunday, the 1,036-teu Wes Amelie (built 2011) received gas fuel from the 7,500-cbm Kairos (built 2018) while in an anchorage off Visby, Sweden, fuel company Nauticor announced. "The successful operation proves again that LNG is becoming a fuel for all segments in the shippin
Thenamaris joins Greeks helping Aissot to grow its fleet Martinos family-owned company is the latest to fix VLCC newbuildings to Iraqi joint venture
Bourbon-Oceanteam CSV wins work in offshore Australia A construction support vessel (CSV) owned jointly by Bourbon and Oceanteam has won a new contract with Fugro in Australia. The CSV Southern Ocean (built 2010) will undertake subsea inspection, repair and maintenance (IRM) work when it commences the contract with Fugro in mid-May. The vessel will start work immediately after completing its current employment, in which it has carried out subsea w
Jinhui buys two supramaxes The Oslo-listed bulker owner has made its first vessel purchase in almost six years.
Environmental and training issues dominate Bureau Veritas meeting Wah Kwong Maritime Transport Holdings deputy chairman Hing Chao took the helm of Bureau Veritas' Asia and Australia Committee last week as it met in Hanoi to discuss key issues facing shipping. The appointment of the brother of Wah Kwong chairman Sabrina Chao marks another shipping community leadership position for the siblings that lead the Hong Kong company. Hing is also on the executive comm
Wells Fargo's Webber says future for analysts still bright Top shipping stockpicker concedes times have changed but says analysts must embrace evolving roles
Sveaas going on the road to raise bond cash Norwegian shipping investor Christen Sveaas' holding company Kistefos is going on the road to drum up support for another bond sale. It has asked ABG Sundal Collier and DNB Markets to arrange a series of fixed-income investor meetings starting on Wednesday. A Norwegian senior unsecured floating-rate bond issue maturing over four years may follow, subject to market conditions. As part of the pot
Valles Steamship exits dry cargo market with sale of last bulker to Modion Maritime Valles Steamship appears to be exiting the bulker market. Brokers in the US and Europe say the 74,000-dwt panamax Silver Dragon (built 2006) has been sold to Modion Maritime Management of Greece for $8.3m. Valles Steamship orders aframax tanker at Sumitomo Sale puts Valles one ship away from bulker exit The price for the Hudong Zhonghua Shipbuilding-constructed ship confirms the downward pres
Cargill: Digital trading solutions must be all-inclusive to succeed Commodities giant urges online trading platforms to look beyond covering vessel chartering to include pre and post-trade processes in their offerings
Foresight linked to $19m VLCC scrap sale UK-based Foresight Group has sold a 20-year-old VLCC for demolition. The 306,000-dwt Agra (built 1999) is said to have been offloaded as is in Singapore for $452 per ldt or $19.1m. Sources said it is likely the ship, which has up to 1,000 tons of bunkers, will be scrapped in Bangladesh. VesselsValue assesses the tanker as worth $19.29m for further trading and scrap. Ravi Mehrotra-chaired Fores
China spends over $1bn in three months on secondhand ships China has taken just over three months to become the first country in 2019 to spend more than $1bn buying secondhand ships, data shows. It took Chinese buyers just 94 days to break the billion-dollar level, according to data provided to TradeWinds by VesselsValue.com (VV). But although 94 days is fast, it's not quite as fast as a spree five years ago by one of China's biggest shipowning rivals.
Product tanker capital of the world shows clockwork growth Strong national affiliation with shipping continues to drive talent pool and earnings opportunities at the top tanker owners in the business
Fearnley Securities sees sparkle in enlarged Diamond S Shipping Promise of rising profitability and strong cash flows have led Fearnley Securities to take up coverage of Wall Street newcomer Diamond S Shipping with a buy rating. Analysts Espen Landmark Fjermestad and Peder Nicolai Jarlsby began coverage with an $18.2 per share target price on what is now a 68-ship company. "Following a merger with Capital Product Partner's tanker fleet Diamond S has finally
Stolt-Nielsen man replacing Richard Sadler at GasLog New York-listed GasLog and GasLog Partners have found a successor to Richard Sadler as their chief operating officer (COO). Stolt-Nielsen executive Paolo Enoizi will start in the role in August from Piraeus in Greece. He will work alongside Richard Sadler to ensure a smooth transition of responsibilities, the companies said. GasLog secures 12-year newbuild charter with JERA GasLog newbuilding
Jan De Nul demands cash from Uljanik Shipyard Belgian group Jan De Nul is demanding repayment of all instalments paid to Croatia's troubled Uljanik Shipyard after it cancelled a dredger there. It also wants interest on top, but no final amount has been revealed. Government collateral had been pledged for some of the sum, the shipbuilder said on Tuesday. Siem still keen on car carrier newbuild at crisis-hit Uljanik Croatia turns to China f
First Vietnamese-built cruiseship sets sail Vard-built Coral Adventurer has bucked the trend of delays plaguing other newbuildings in the expedition cruise sector.
Sadan Kaptanoglu opens up on her plans as Bimco president Third-generation Turkish shipowner will become the first woman to lead the international shipping association, where the environment will top her agenda
VLCC giant Bahri starts stronger as rates rise Saudi Arabian tanker giant Bahri has increased earnings in the first quarter as rates strengthened. The VLCC owner said net profit to 31 March was SAR 179.33m ($47.82m), from SAR 123.14m a year ago. Revenue jumped to SAR 1.7bn from SAR 1.45bn. The bottom line was boosted by an improvement in some of its business units and an increase in rates in general, despite a rise in financing costs, it sa
EMGS wins another contract in south-east Asia Electromagnetic Geoservices (EMGS) has been awarded a multi-year contract in south-east Asia worth up to $73.3m from "one of the world's largest national oil companies", it said. EMGS' 103-metre research vessel Atlantic Guardian (built 2001) will be employed under the contract for up to two years, the shipowner said in a release on Tuesday. "This letter of award from a repeat customer, togethe
Bulker ships out first Congo Republic iron ore Congo Republic has exported its first iron ore bulker shipment from the revived Pointe Noire port. Reuters reported that the terminal will be used by Congolese billionaire Paul Obambi's Sapro and Swiss trader Glencore. Sapro mined Congo's first ore in 2017 from the Mayoko project and wants to produce 12m tonnes per year by 2022. Glencore's joint venture with Zanaga Iron Ore, of the British Virg
AP Moller-Maersk heads into uncharted waters as historic shift in strategy unfolds Questions loom as Danish shipping conglomerate sheds its energy wings and focuses on the box business
Danish maritime training transitions from 'Maersk School' to mainstream institutions Denmark's success in global shipping is closely linked with its ability to tap a rich talent pool, leading executives believe. "In our sector we love the ships, we love the steel, but actually, the software between the ears of the people is actually what is driving the industry," says Anne Steffensen, chief executive of Danish Shipping. "We put a lot of effort into making sure people who jo
Danish shipping continues to punch above its weight on global stage With a constant focus on ensuring favourable framework conditions for their fleet, Danes continue to make a difference by connecting the maritime world around them
Wallenius and SOL order ships for new joint venture Swedish shipping companies Wallenius and Swedish Orient Line (SOL) have inked eco-friendly newbuildings for a new Nordic joint venture. Wallenius SOL will carry forestry products and other goods in a network covering the Gulf of Bothnia, the Baltic Sea and the North Sea, they said on Tuesday. The companies view the partnership as an investment to strengthen infrastructure for the needs of Finnis
Naftomar scraps elderly LPG carrier Demolition deal sees last 1980s-built ship leave the Greek owner's fleet.
New HMM CEO on European charm offensive New HMM CEO Jae-hoon Bae is visiting Europe to cement the Korean owner's alliances. He plans to meet leaders of its 2M boxship partners Maersk and MSC in Denmark and Switzerland, the company said. Jae-hoon Bae takes top job at HMM Bae left Korea on Monday for London where he will visit the owner's European head office. A meeting has also been set up with IMO secretary general Kitack Lim to tal
DSME builds four VLCCs in one dock Korea's DSME is working on four VLCC newbuildings in one drydock at the same time to boost productivity. It said it has launched two big tankers ordered by European shipowners simultaneously. This brings to four the number of ships it is working on in dock one, the biggest in the world since 1993. It can handle four 330-metre tankers with a width of 60 metres. This is "not a common sight for
US takes world by surprise with waiver decision Banchero Costa says unilateral move will likely hurt global economy and be negative for tankers, but Clarksons Platou sees a positive for owners
Trump: No more Iranian crude waivers White House says decision is aimed at bringing Iran's oil exports to zero and cutting off revenue.
Kota Pekarang arrival sets new North Carolina milestone US East Coast port hosts first 12,000-teu boxship as $200m investments start to reap rewards.
Ocean Yield FPSO put into lay-up in Sri Lanka Oil service firm and port operator behind project hope it is a stepping stone to bigger things.
Talking Trade with Peter Friedmann, AgTC executive director "There's nothing we produce in agriculture and forest products here in the U.S. that can't be sourced somewhere else in the world and if we can't deliver our exports, affordably and dependably, we will lose those customers."
Mexican envoy: U.S. labor should embrace USMCA Mexican Ambassador to the U.S. Martha Barcena Coqui on Monday said the U.S.-Mexico-Canada Agreement's pioneering labor reforms shouldn't be taken for granted.
U.S. aims to halt Iran's remaining oil exports The White House on Monday announced its intent to end sanction waivers to countries still importing revenue-generating oil from Iran.
State legislators hear conflicting views on Oakland ballpark The Pacific Merchant Shipping Association and longshoremen oppose the plan by the Oakland Athletics to build a ballpark on Port of Oakland property.
HMM's new CEO discussing future with 2M Jae-hoon Bae also will meet with employees, shippers and the head of the IMO during a visit to Europe less than a month after becoming head of the South Korean carrier.
Executive Moves: Bestpass to TIACA
Qatar Petroleum initiates huge LNG carrier order
KeepTruckin raises $149 million in Series D funding
OPEC output decision to be made only after reviewing oil prices: Kuwait minister The decision by Washington to not extend waivers on Iranian crude oil imports will be a key topic of discussion when OPEC members meet in Jeddah in May
OPEC has the spare capacity to offset Iran's oil supply losses, but does it have the will? The looming lapse of sanctions waivers for imports of Iranian crude has put spare production capacity back in focus
Global spare oil production capacity at 'comfortable levels': IEA Global oil markets are adequately supplied with "comfortable" levels of spare production capacity, according to the IEA
ARA fuel oil stocks fall 12% despite closed arb east Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp hub dropped by 12% week on week
Piraeus bunkers brace for tight availability as holidays loom The bunker market at the port of Piraeus, Greece, is facing an increasingly tight barge schedule
Novorossiisk bunkering resumes after weather improves: sources Bunkering operations have resumed at the Russian Black Sea port of Novorossiisk
Crude again sets fresh six-month high as market digests potential loss of Iranian barrels Oil futures settled higher for a second session Tuesday
LSFO blending demand pushes Australian heavy sweet crude premiums to record high The premiums continue their rise ahead of the IMO 2020 rule.
External: Global Risk Management
Japan sees no need for SPR release after US decision to end Iran sanctions waiver: METI "In any case, we will be closely monitoring trends in the international crude oil markets and local companies' situations over their [oil] procurements."
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