Navy releases updated FFG(X) RFP The U.S. Navy on June 20 released an updated request for proposals (RFP) for the FFG(X) detail design and construction (DD&C) contract for the first 10 guided-missile frigates (one base ship and
Cavotec books further Finnish MoorMaster order Lugano, Switzerland, headquartered Cavotec SA reports that it has won another order for its innovative MoorMaster automated mooring technology, this time for the Viking Line ferry berth at the Port of Turku
Damen lays keel of 70 m fast crew change vessel Damen Shipyards has laid the keel of the first FCS 7011 fast crew change vessel. It is being built at Damen's Antalya, Turkey, shipyard and, at 70 meters in length, will be
Ben Anderson receives USCG Witherspoon Award Ben Anderson, CEO of Bremerton, Wash,, based Art Anderson Associates was awarded the U.S. Coast Guard (USCG) Captain John C. Witherspoon Inspirational Leadership Award on June 5,, 2019. The Witherspoon Award revolves
Ørsted is preferred bidder for NJ offshore wind farm The New Jersey Board of Public Utilities (NJBPU) has selected Ocean Wind, an offshore wind energy project proposed by Ørsted with support from Public Service Enterprise Group (PSEG), to negotiate a 20-year
Major shipping companies unprepared for low-carbon future A new report by CDP claims slow steaming can reduce emissions by 30%, but is a short-term solution
Court ruling 'aligns English and US law on CTL calculations' 'It seems to me that if you need to do things to get your ship back, to be in a...
US considering tanker protection force after attacks US President Doanld Trump says countries should be involved in protecting their own ships in the Strait of Hormuz because...
Clean tanker rates jump as refinery fire opens transatlantic gasoline arbitrage Rates are now seen at the highest since the end of April and are anticipated to climb further as details...
GasLog and unit agree to cut IDRs Incentive distribution rights give the beneficiary the right to receive an increasing percentage of quarterly distributions of available cash from...
Day of the Seafarer spotlights gender equality IMO's Day of the Seafarer is seeking to address the issues that prevent gender equality in the maritime world. Seafarer...
Contship Italia confirms Cagliari closure Redundancy notices issued as Sardinian transhipment hub closes
Maersk and Bolloré Logistics commit to 20% CO2 cut by 2025 French firm pledges to reduce its containers' carbon footprint but without providing more details
China Merchants Port unveils 5G lab plan Project will be based in Shenzhen and supported by the city's government
Teekay seeks new charter for Petrojarl Varg FPSO unit The FPSO was due to operate in the Cheviot field in the UK's continental shelf for a seven-year fixed term...
China slowdown could boost container trades After initial disruption, a trade war between China and US could end up being positive for box trades as new...
Yang Ming and APL add China-Thailand services Yang Ming says the company is responding to the shifting sands of global trade by deploying more services to the...
Temasek backs SembMarine's debt refinancing SembMarine will draw down S$1.5bn from the funding to refinance debts and use the remaining S$500m to finance project executions and...
Ship operators face fuel compatibility questions Fuel quality testing alone may not be enough to prevent engine damage from mixed blends
Daily Briefing Carriers head to yards for ULC orders | Weakness in soyabean trade returns | The Lloyd's List Podcast: LNG burning...
MOL firms up FSRU charter for Hong Kong LNG terminal MOL FSRU Challenger, built by Daewoo Shipbuilding in 2017 with a storage capacity of 263,000 cu m, will be delivered...
Sarawak region holds key to Malaysia's future LNG plans The most prospective basins for new discoveries and undeveloped gas resources in Malaysia are in offshore Sarawak. Consultant Wood Mackenzie...
Trump administration places sanctions on Iran US Department of the Treasury targets leaders of Islamic Revolutionary Guards Corp for Strait of Hormuz tanker attacks, drone strike.
JP Morgan the latest to drop shipping coverage Bulge-bracket investment bank becomes the sixth firm to part ways with the sector in recent months, with analyst Noah Parquette set to depart.
Investor looks to take a Fjord1 sliver Fearnley gets order for up to 5% ownership of the Norwegian ferry operator.
IMO warns about Yemen piracy warnings The Yemen-based Regional Maritime Information Sharing Centre has been issuing false piracy alerts, the IMO has warned. The UN-backed body said the ongoing civil war in Yemen has caused the centre to suspend operations and that updates coming from infoex@remisc.org "are not legitimate". War-risk rates to rise further after Gulf terror attacks "IMO has supported the REMISC since its establishment
Aon warns poor underwriting figures put P&I under strain Broker asks whether a rate increase is needed seeing as mutuals are paying out more in claims that they make in premiums
Fjord Line reports increased profit amid high demand Fjord Line has announced a rise in pre-tax profit to NOK 14m ($1.6m) last year, up from NOK 4m in 2017. The privately owned Norwegian ferry owner's annual report shows revenues stood at NOK 1.53bn last year, up from NOK 1.36bn in 2017. Chief executive Rickard Ternblom earned a salary of NOK 2.05m in 2018. Fjord Line prospers in third quarter Egersund-based Fjord Line has a fleet of four ships
Chartering takes priority as Noble sells another bulker Noble Chartering to continue as an asset-light bulker operator as more sales deals are lined up
Capesize rates 'on a high' amid Brazil-China trade comeback Reopening of Vale's Brucutu mine boosts spot rate outlook through 2019, Jefferies analyst Randy Giveans said.
AP Moller-Maersk scoops shares worth $105m in first stage of buyback Danish shipping giant AP Moller-Maersk has bought back over $100m of its own stock as part of a vast programme allowing it to invest over $1.5bn in its own shares. Maersk cuts loss as it launches $1.5bn buyback Big banks to credit shipowners who cut carbon pollution The world's largest shipowner announced on Monday it had picked up DKK 131.9m ($20.1m) of it's A-shares and a further DKK 559m i
Trump: Countries should protect their own ships in Strait of Hormuz US President Donald Trump is questioning whether or not the US should continue to protect ships in and around the Strait of Hormuz, where six tankers have been attacked in as many weeks. "China gets 91% of its Oil from the Straight [sic], Japan 62%, & many other countries likewise," Trump tweeted Monday morning. "So why are we protecting the shipping lanes for other countries (many years) for zer
GasLog cuts distribution right as it grows stake in GasLog Parnters GasLog has agreed to cut its rights to incentive distributions from GasLog Partners in exchange for shares. The New York-traded companies announced Monday that GasLog receive 2.5 million common shares in its master limited partnership spinoff, in addition to an equal number of class B shares. LNG shipowners highlight long-term prospects amid spot volatility GasLog Partners seals LNG carrier per
Kenyatta blocks bid to oust MSC from KNSL Kenyan president Uhuru Kenyatta has rejected parliament's bid to lock Swiss shareholder MSC out of the revived Kenya National Shipping Line (KNSL). Kenyatta refused to pass a new bill after MPs sought to have KNSL owned completely by the state, the Daily Nation reported. MSC to help revive Kenyan national line He said this would "disadvantage the Kenya National Shipping Line whose majority shar
Talk cools around $40m twin tanker deal for Torm Chatter linking Danish tanker owner Torm with a second en bloc transaction in quick succession is wide is off the mark, sources suggest. Carsten Mortensen seals comeback with private equity shipowning venture Four MRs in, one out at Torm Cido set to trim fleet again with MR tanker sales Multiple brokers are connecting Torm with both the 46,800-dwt Atlantic Pegasus and Atlantic Queen (both bui
Top court backs mortgage holder again in bulker arrest row Judges rule Bright Start sale can never be "free and unencumbered."
Philly refinery fire boosts MR product tanker earnings The blaze at US east coast's largest oil refinery may create gasoline shortfall for an extended period, boding well for transatlantic MR earnings.
Atlas settles Noble Group row with $41m payment Singapore trader and bulker owner Noble Group has settled a dispute with an Indonesian company and will bank $40.68m in the process. It has entered into a master settlement deed to end claims that it and Atlas Group had against each other. Noble offloads bulker as shipping exit continues Noble said $113m was owing from Atlas, but it has settled on the smaller amount, half of which is payable in
New Grieg Star CEO ready to shape the future Matt Duke begins his stewardship of bulker owner next month, promising to build on expertise but also introduce 'disruptive' innovation
Out come the water cannons as Taiwan tackles sand pirates A controversial segment of China-flag shipping has made itself unwelcome across the strait. The problem is growing, and Taipei is losing patience
Shell puts inland LNG bunker barge to work off Rotterdam LNG London performs first operations with Containerships boxships duo
American Club costs soar amid higher international group claims The American Club has reported an increase in incurred losses to $45.9m for its latest financial year after it was hit by a high level of claims from the International Group. Commenting on the 2018 figures, the American Club said its own claim's record was the best since 2002 but 70% of the increased claims were attributable to other International Group pool claims. American Club bolsters capabi
Carsten Mortensen seals comeback with private equity shipowning venture Former Norden and BW Group chief executive behind Dee4 Capital Partners
Saudi Arabian fleet grows 28% Saudi Arabia has increased its flagged fleet to 363 vessels. This is up from 284 in 2017, a rise of 28%. The fleet grew to 7.67m tonnes, according to the annual report published by the Public Transport Authority. The list includes 60 tankers, two LPG carriers and 29 chemical ships. The flag also boasts 11 ro-ros and 13 ferries, as well as 240 tugs or supply ships. Most are registered in Damma
Trade wars prompt Asian rejig for Yang Ming Yang Ming is reorganising its Asian network "under the impact of rising global trade tensions," it said. A relocation and adjustment of cargo flow and supply chains is expected, the Taiwanese liner company added. As a result, it is launching a new intra-Asia loop, China-Thailand Service (CTX). The first sailing is scheduled for 12 July from Shanghai. The run will use three 1,200-teu feedership
Switzerland demands UN tribunal orders release of tanker and crew in Nigeria Switzerland has petitioned a UN tribunal to release an ABC Maritime tanker and senior crew detained in Nigeria since January 2018. In a hearing at the International Tribunal for the Law of the Sea (ITLOS), it demanded that Nigeria "take all measures necessary" to ensure that the restrictions on the liberty, security and movement of the 7,600-dwt San Padre Pio (built 2002) be lifted immediately.
Teekay Offshore Partners hunts for new Petrojarl Varg charter US-listed MLP says counterparty failed to provide initial funding to cover life extension and upgrade costs.
Cosco books heavylift ship at Guangzhou Shipyard International Second newbuilding contract signed this year by China's Cosco Shipping Specialized Carriers s
Sembcorp Marine secures $1.5bn 'loan' to cut debt Funds for Singapore yard group come from parent group following state-backed bond issue
Samsung Heavy eyes boost from new wave of LNG projects South Korean shipbuilder is poised to expand LNG newbuilding business from the projects of Qatargas, Mozambique LNG, ExxonMobil and Novatek
Shell seals deal to supply LNG to Hong Kong FSRU Local power companies also confirm Mitsui OSK Lines as provider of regasification unit.
Yangzijiang unlikely to raise payout, despite financial prowess But Chinese shipbuilder still leaves Korean rivals in the shade, when it comes to investor returns
Supreme Court rejects case seeking to halt 232 tariffs Section 232 tariffs on steel will remain in place after the court declined to review an American Institute for International Steel case that challenged the constitutional authority of President Trump's tariffs on steel.
Trump moves forward with additional Iran sanctions The president on Monday authorized financial sanctions against Ayatollah Ali Khamenei and certain Revolutionary Guard officers in response to military tensions in the Persian Gulf.
US tries to dial back China's supercomputer development Five Chinese firms added to the Commerce Department's Entity List operate under myriad aliases, challenging U.S. export compliance managers.
Georgia senators urge no China tariffs on ship-to-shore cranes The cranes, classified under Harmonized Tariff Schedule Subheading 8426.19.00, had been removed from List 3 of Section 301 tariffs on China but were later added to proposed List 4.
Hiring of CBP officers significantly increases Bonuses help attract officers in hard-to-fill locations, senior official says.
Carriers consider ordering mega containerships Evergreen, Hapag-Lloyd, Yang Ming and COSCO all are said to be weighing new ship orders.
FMC reviews 16 OTI license applications
DFDS, Volvo collaborate on autonomous container truck
Manufacturer optimism dips in Q2
USTR to open e-portal for List 3 exclusion requests
Banks to integrate climate principles into loan decisions
Potential upside for shipping from trade war explored
Yang Ming, APL add intra-Asia services
IMO calls out false piracy warning
Executive Moves: Little Rock, StreetScooter, Seabury
Pertamina's LSFO deal with Freepoint boosts potential of Sambu Island Pertamina's deal to sell low sulfur materials produced at its Plaju and Balongan refineries to Freepoint Commodities is seen as a key step.
Russia's May fuel oil exports fall 12.05% on year to 2.409 million mt Russian fuel oil exports in May fell 12.05% year on year to 2.409 million mt.
Thailand's IRPC to start selling 0.5% sulfur fuel oil cargo from July Thailand's oil and petrochemical company IRPC Public Co. Ltd. plans to start selling low sulfur fuel oil cargo with maximum sulfur of 0.5% from its Rayong refinery from next month.
WTI structure strengthens as Middle East tensions simmer The NYMEX WTI forward structure continued to strengthen Monday.
DUBAI FUTURES: Dubai structure softens despite Middle East conflict escalation "We are putting major additional sanctions on Iran on Monday," Trump said in a tweet on Sunday.
Middle East conflict, US-China tension fuel uncertainties for oil, gas firms: Malaysia PM Mahathir said the Middle East is as turbulent as it was back in 2003.
US to announce 'major' additional sanctions on Iran on Monday: Trump "We are putting major additional sanctions on Iran on Monday," Trump said in a tweet.
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