Five Somali pirates detained after attacks on fishing vessels If you thought that Somali pirates were a thing of the past, think again. Early Tuesday April 23, EU NAVFOR Somalia Operation Atalanta successfully responded to a piracy incident that had developed
Wallem puts ops on the cloud with off-the-shelf solution The Wallem Group has chosen a commercial, off the shelf, cloud based solution from Norway's BASS Software to manage its entire fleet. Wallem will use the BASSnet fleet management solution for maintenance,
DFDS invests in biofuel start-up One of the world's largest freight and passenger ferry operators, DFDS, has invested in biofuel developer start-up company MASH Energy ApS. MASH Energy ApS produces bio-oil from agricultural waste. The CO2 neutral
Maersk Supply wins major FPSO mooring contract Maersk Supply Service has been contracted to deliver an integrated FPSO mooring installation and replacement solution for an American oil major in the Gulf of Guinea. Its responsibilities will include engineering, procurement
INTERCARGO slams flag state delays on accident investigation reports INTERCARGO (the International Association of Dry Cargo Shipowners) is warning that there is no room for complacency, even though there has been no reported loss of a bulk carrier in 2018. It
Pilot project uses artificial intelligence to detect corrosion levels ABS, Google Cloud and software development specialist SoftServe have completed a pilot project applying artificial intelligence (AI) models to detect levels of corrosion and coating breakdown on ships and offshore structures. The
Concordia Maritime chief convinced of tanker market strength Concordia Maritime expects that the Organisation of the Petroleum Exporting Countries, which next meets in June, will announce an increase...
Trump said to be considering Jones Act waiver Reported talks signal a decision soon on allowing foreign-flagged vessels to ship US LNG domestically
Ferry capsizes off West Africa The ferry, which was carrying 60 people, capsized while travelling between the islands of São Tomé and Príncipe off the coast...
Wärtsilä orders increase, although profits are still under pressure Strong growth in equipment orders saw Wärtsilä's Marine Business post improved results for the first quarter of 2019 and slowly...
GasLog Partners eyes strengthening of LNG market Longer-term outlook for LNG shipping 'continued to strengthen' in the first quarter, says gas carrier owner
US shippers still suffering intermodal blockages Rising fuel costs, driver shortages and rising demand have prompted carriers to warn of premium prices for inland US haulage
K+N boosted by sea freight business Double-digit volume increase of Asian exports to North America and Europe boost sea freight revenues
Dalian Port scraps $490m expansion projects to pay debt Move comes as the port has been experiencing an industry slowdown in recent years as China's economy decelerates
Pirates target Singapore Strait traffic Two barges had their cargoes of scrap metal pilfered while the other two escaped unscathed
ABS leads joint venture to tackle dangerous cargo Class society and safety group join forces in effort to reduce incidence of fires from dangerous goods stored on container...
CMA CGM launches digital ecosystem for container bookings Priority boarding and secure slots on offer to encourage customers towards online services
Cosco Shipping Ports names Zhang as chairman Move appears to be part of the management restructuring being carried out within China's shipping conglomerates
MPC secures funding for expansion Fast-growing feedership owner lines up $40m, three-year revolving credit agreement
LNG capacity expecting approval hits new high The US is leading the pack with the largest new LNG capacity due to be sanctioned this year, while Qatar...
Daily Briefing Idle boxship fleet falls as scrubber installations increase | Container freight rates tracking 10% ahead of last year | Who...
Wallem Ship Management appoints managing director Mr Aune brings a wide range of technical, compliance, regulatory and operational experience to the new role
Port of Tacoma welcomes new executive director John Wolfe remains chief executive of the Northwest Seaport Alliance, while Eric Johnson assumes control of business exclusive to the...
Russia starts new plant to supply LNG bunker Novatek plant is looking to supply LNG as bunker and motor fuel as well as small-scale wholesale LNG sales to...
Indonesia to receive first US crude import in June Once an Opec member, the Southeast Asian nation has become a net importer of crude as its domestic output has...
Exmar in the red for first quarter Exmar ended the first quarter in the red thanks to dips in its LNG business and slightly lower LPG carrier rates. The Belgian gas player reported an $11.4m loss for the first three months of 2019, a considerable decline from the $21.4m profit made over the same period last year. Exmar set to finalise VLGC newbuilding order at China's Jiangnan Shipyard In LNG, the Ebit earned by the segment drop
Barron named CEO of Minerva Bunkering Tyler Baron will take the reins at Minerva Bunkering, rising to chief executive three weeks after the former Aegean Marine Petroleum Network emerged from bankruptcy. "Given Tyler's history with and dedication to the company, as well as his breadth of experience in financial markets and capital allocation, he is the ideal candidate to lead Minerva Bunkering," said Magid Shenouda, global head of tr
GasLog Partners refinances ships as it posts first quarter profit GasLog Partners has cut a deal to refinance a third of its ships at the same time as ringing up a first quarter profit. The New York-traded company has entered into a $450m credit agreement with Credit Suisse, Nordea Bank, filial i Norge and the Singaporean branch of Iyo Bank to refinance five of its ships. The deal saw the 155,000-cbm GasLog Shanghai, GasLog Santiago and GasLog Sydney (all bui
Matson stock takes biggest drop of 2019 US boxship player's shares fall almost 5% at open before trending upwards.
Chile hands out final ruling in car carrier collusion case Six car carrier companies who had faced fines of $75m over anti-competitive business practices in Chile have seen the final figure come in at a much lower level, with some escaping any sanction. The Chilean competition court has fined two of the companies a total of $9.1m and has exempted or acquitted others. The operators had been accused of taking part in a customer allocation scheme in which
Epic Gas eyes $60m share issue with backing from BW Group The share issue will bring BW Group's long-targeted takeover of Epic ever nearer.
Oman Shipping moves ahead with big box-sector ambitions Group aims to become a major regional liner force
Lessors worry over Bunge deal on ICBC kamsarmaxes Chinese leasing houses are feeling pressure on time charter rates after US dry bulk charterer strikes favourable index-linked terms on newbuild quartet
Sun Enterprises ends 16-year hiatus in MR newbuildings Sun's move for two MR tankers - its first order since 2003 - at HMD is seen as an attempt to renew its fleet
Thoresen Shipping linked to purchase of modern bulker Thoresen Shipping, the subsidiary of Bangkok-listed Thoresen Thai Agencies, is said to be purchasing its newest vessel to date. Brokers in the US and in Europe said the company has paid $18.5m for the 63,000-dwt bulker Western Santos (built 2014). The Jiangsu Hantong Ship Heavy Industry-built vessel, which has been controlled by Japan's Nisshin Shipping since 2014, passed special survey as lat
Chief executive Jens Ismar exits Western Bulk Carriers Jens Ismar is departing as chief executive of Western Bulk Carriers after more than a decade with the Christen Sveaas-led company. Talk of Ismar's potential exit began circulating in the market earlier today and was confirmed by the Oslo over the counter quoted company this afternoon. Ismar will be replaced by Umoe Group executive Hans Aasnaes on 1 July. Speaking to TradeWinds this evening Isma
Korea Line Corp sells capesize bulker for scrap Korea Line Corp has reportedly sold a capesize vessel for scrap at a time South Korean owners are play a leading role in selling large bulkers for demolition. Market sources said the Seoul-based shipowner has sold the 149,000-dwt Bluebell (built 1996) as is in South Korea for $432 per ldt or $7.7m. Braemar ACM: Capesize and VLOC scrapping surge takes 2019 tally past last year's total Berge Bul
Trade groups give Trump's Jones Act waiver idea thumbs down News that President Donald Trump was considering a Jones Act waiver for LNG carriers headed to certain US ports was not met with enthusiasm from shipping industry lobbying groups. "We're concerned that it's wasting the White House's time," said Fair Kim, policy director at the Washington DC-based American Maritime Congress. "We in the industry, we read this and we kind of roll our eyes. We know
Drugs smuggled on to MSC Carlotta again Drugs have been smuggled on to an MSC boxship for the second time in two months. La Republica reported that more than 2 tonnes of cocaine were seized from the 11,568-teu MSC Carlotta (built 2017) in Callao, Peru, this week. More than 50 suitcases full of "bricks" of the drug were found, the report said. They were destined for Panama. The captain of the ship, a citizen of Montenegro, is acting a
EU Navfor arrests five Somali pirates after capturing mothership An EU Navfor warship has seized five Somali pirates after tracking down a mothership. The raid took place on 23 April after its flagship ESPS Navarra had responded to a piracy incident that unfolded over the previous four days. It began on 19 April, when five suspected pirates captured a Yemeni dhow off the coast of Somalia. Six seafarers kidnapped from anchored tanker They navigated along the
Seanergy Maritime eyes equity raise Stamatis Tsantanis-led bulker player hopes to sell almost 3.7 million shares to pay off some debt.
JP Morgan welcomes VLCC order slowdown after 'scary' start to 2019 JP Morgan has welcomed a slowdown in VLCC orders after a scary start to the year - but analyst Noah Parquette warns price dynamics could tempt further contracting. Hyundai Heavy beefs up 2019 VLCC order tally Oman Shipping confirms VLCC order Form and identity of new South Korean shipbuilding giant taking shape A surge in January saw 10 new VLCCs added to the orderbook, just one shy of the tot
CroisiEurope sets sights on expedition cruise sector French river cruise specialist CroisiEurope is planning a move into the deepsea expedition cruise market, possibly using a vessel from the fleet of Miami-based SunStone Ships. According to French travel media this week, the company wants to take on the 5,200-gt Silver Discoverer (built 1989) after the ship completes its long-term charter to Silversea Cruises later this year. Silversea Cruises ch
Gabon launches ship register in UAE The West African nation of Gabon has launched a ship register in the UAE. It has teamed up with Ajman-based Intershipping Services to set up the International Ship Registry of Gabon. A deal was signed last September to set up the register. Gulf Today cited Justin Ndoundangoye, Gabon's transport minister, as saying: "It is no doubt that this opportunity allows Intershipping Services to manage an
Okeanis Eco Tankers sets out spot and dividend goals as market tipping point approaches Okeanis Eco Tankers remains confident of a tanker market upturn, setting out guidance for its spot exposure in 2020 and potential dividend payments. Alafouzos family hands Okeanis Eco Tankers options for fresh suezmaxes at Hyundai Heavy Industries Kyklades Maritime orders suezmax tankers worth up to $260m at Hyundai Heavy Industries Okeanis Eco Tankers shows confidence with 2019 VLCC supply gro
Marshall Islands urged to act on Stellar Daisy loophole Accident report suggests flag state should make recommendations to the IMO as structural weakness of VLOC conversions is revealed
JJ Ugland Group prepares to offload its oldest bulker Norway's JJ Ugland group is in the process of selling its oldest ship, an 18-year-old supramax bulker. Brokers in the US said the 52,000-dwt Fermita (built 2001) has been sold for $6m to $6.5m. Ugland moves to arrest Petrakis ship after Gulf of Mexico crash Equinor extends charter of JJ Ugland shuttle tanker Oystein Beisland, CEO of privately owned JJ Ugland, declined to confirm a sales deal
DFDS buys into biofuel start-up MASH Energy Danish ro-ro giant DFDS has become co-owner of biofuel start-up MASH Energy. It has invested DKK 10m ($1.5m) in the Danish company, which uses agricultural waste to produce the fuel. Hurtigruten picks Hoglund for biofuel systems Vitol, GoodFuels step up biofuel drive "The plan is to work towards testing the fuel on a DFDS vessel," the shipowner said. "DFDS will hopefully in due time be using
Concordia Maritime clocks up profit as tanker market positions for cyclical takeoff Concordia Maritime slipped back into the black in the first quarter at what chief executive Kim Ullman believes is the start of the "next major upturn in tanker shipping". Concordia Maritime: tanker market upswing 'structural' not 'seasonal' Concordia Maritime sells suezmax stake Stena-backed Concordia booked a profit of SEK 1.7m ($177,650) in the opening three months of 2019, flipping from a l
Lloyd & Partners sees hardening marine insurance market Lloyd's profit drive and capacity cuts should begin to have an effect on underwriting discipline, says broker
Greek authorities deregister trio of Zolotas companies Licences withdrawn from NewLead subsidiaries for failing to provide filings on their activities
Chinese buy into Novatek's new Arctic LNG 2 project Russian producer Novatek has announced two new Chinese investors for its Arctic LNG 2 project. CNOOC has bought a 10% stake in the big new programme, while China National Oil and Gas Exploration and Development Company (CNODC) will also acquire 10%. CNODC is a unit of China National Petroleum Corporation (CNPC). Novatek starts shipping from new small-scale LNG plant Rosneft confirms deal for p
Maersk Supply Service makes good on diversification push with Gulf of Guinea contract New contract will comprise integrated marine services, as well as offshore support vessel work.
Roger Holm: new scrubber orders will miss 2020 deadline Wartsila has warned that new retrofitting orders for scrubbers will now miss the IMO's 2020 deadline. Roger Holm, the Finnish technology company's marine solutions president, said: "We are still seeing good activity, but if you haven't ordered now you are not going to get them for 1 January, so new orders will be delivered into the new regulations. Wartsila, Samsung team up on LNG carrier, shutt
Two injured in Indonesian tanker blast Two shipyard workers have been injured in a tanker explosion in Indonesia. The blast occurred on the 7,900-dwt Success Energy XXXII (built 1996) in Sungai Raya on Wednesday, the Kumparan website said. Welding work was taking place at the time, the report said. The two men suffered serious burns. Police are investigating the incident. The ship is listed as operated by Sukses Osean Khatulistiwa
Pan Ocean fails to kick out Chinese tanker fraud case South Korean owner Pan Ocean has failed in a bid to halt legal proceedings in Singapore in a protracted wrangle over alleged oil smuggling. Christopher Hancock QC, sitting as a UK high court judge, ruled there was no exclusive jurisdiction clause (ECJ) in favour of the English courts in the tanker case. And he rejected an anti-suit injunction (ASI) application by Pan Ocean to prevent the multi-m
Boxship buyers show interest in 'zombie' panamax sector German buyers acquiring containerships in a segment that refuses to die
MPCC adds $40m for more boxship buys Oslo-listed MPC Container Ships (MPCC) has added more firepower in its continuing quest for boxship tonnage. A $40m three-year revolving credit facility is being provided by CIT Group at "attractive terms", it said. The money may be used towards investments, vessel upgrades or general corporate purposes, it added. CEO Constantin Baack said: "We are very satisfied with the cooperation demonstrat
Exmar set to finalise VLGC newbuilding order at China's Jiangnan Shipyard Company's newbuilds at Chinese yard will be bigger than the ships it initially ordered at cash-strapped HHIC-Phil
CJC director Ian Short heads back to London Shipping law firm CJC's director Ian Short has moved back to London after founding its Singapore office five years ago. The company said his role remains unchanged and he will continue to work closely with the Singapore team on Asia-related cases. But he will also be "well-placed to develop working relationships with clients throughout Europe and elsewhere," it added. Short said CJC's commitmen
Korea providing more cash for domestic shipyards South Korea is to provide more cash to support its shipbuilding sector. The industry ministry said on Wednesday it would spend KRW 70bn ($61m) to support shipyards, according to the Yonhap news agency. The new money will be earmarked for developing eco-vessels like those powered by LNG. It follows measures announced in November to create a KRW 1.7 trillion fund to support yards and to invest KR
GTT faces growing threat from Korean LNG containment systems Recent LR approval for DSME's Solidus system may prompt owners to go Korean, says analyst.
PUM products tanker heads for the beach Indonesian-owned Kartika Segara is now confirmed as being sold for scrap.
Seacor Holdings boosts first-quarter profit Charles Fabrikant-led diversified owner posts higher revenue compared to a year earlier.
Wallem picks John-Kaare Aune as ship management MD Norwegian set to take up role from 1 July 2019 following departure of David Price earlier this year.
Slumping secondhand prices bring Fuzhou back to life Bargain-hunting shipowners based in Chinese city are returning to the dry bulk market after a long quiet spell
Hyundai LNG Shipping's VLGC order backed by E1 charter Major LPG importer emerges as charterer of newly ordered ship
Valero hits record Q1 light, sweet crude throughput; increases heavy Canadian crude intake to replace lost Venezuelan barrels Valero ran a record amount of light sweet crude through its system in the first quarter of 2019
TRADER NOTE: Marine fuel supplier Minerva Bunkering appoints Tyler Baron as CEO Marine fuels supplier Minerva Bunkeringhas appointed Tyler Baron as its CEO
Brent settles lower as rally runs out of steam Oil futures settled lower Thursday after swinging into the red in the final minutes
Adoption of ship implementation plans rising ahead of IMO 2020 "Compliance is achievable, but the right measures need to be put in place in a timely fashion," Kerr said.
US hopeful Asian importers can make smooth transition away from Iranian oil "We have been working very closely with countries like India to ensure that there is no interruption in their supplies," Hook said.
Iran sanctions to have limited impact on forward crude prices: Analysts The decision to end the waivers could remove 1.33 million b/d of Iranian exports, according to Platts' estimates.
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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