Gulf Island newbuilds feature Schottel and Vulkan technology A series of ten Robert Allan Z-Tech 30-80 design terminal and escort tugs being built by Gulf Island Shipyards each feature two type SRP 510 FP Schottel Rudderpropellers type SRP 510 FP.
Jacobs wins Saudi shipyard contract Dallas, Texas, based Jacobs (NYSE:JEC) is to deliver design engineering services for what will be the largest shipyard on the Arabian Gulf: the King Salman International Complex for Maritime Industries and Services
MAN dual-fuel two strokes pass 500,000 hour milestone MAN Energy Solutions reports that its two-stroke, dual-fuel engine portfolio has now logged over 500,000 operating hours. The company has booked more than 250 sales across its entire range of dual-fuel two
David DeVilbiss joins Glosten Seattle-headquartered naval architecture and marine engineering firm, Glosten, announces the hiring of David DeVilbiss. He joins Glosten's Marine Construction group as a Senior Marine Consultant. "We are thrilled to have David join
Navy takes delivery of LCS 20 The U.S. Navy accepted delivery of the future USS Cincinnati (LCS 20) during a June 21 ceremony at the Austal USA shipyard in Mobile, Alabama. The future USS Cincinnati is the 18th
Wallem on board with 2019 Day of the Seafarer theme Today, June 25, is the international Day of the Seafarer. This year IMO is using it as opportunity to promote gender equality, with a social media campaign using the hashtage #IamOnBoard. One
Norway won't repair frigate that sank after collision Norwegian Defense Minister Frank Bakke-Jensen says that the Government has decided it is more appropriate to dispose of the frigate KNM Helge Ingstad, rather than to repair it. The frigate sank following
Attrition of shipping's equities analysts is both cyclical and structural Higher capital requirements, more selectivity from buy-side investors and electronic trading are all lowering commissions for investment banks
American Club clocks up $5.5m loss as combined ratio hits 116% 'The market may be experiencing a transitional phase where club capabilities will become ever more important to members in the...
Maersk launches online spot booking system Mutual commitment between the customer and line 'ensures that the vicious cycle of overbookings is addressed', box carrier claims
Maritime leaders set to converge on London This year's International Shipping Week will be the biggest since the biennial event was launched in 2013, according to chairman...
Electrofuels will drive shipping's decarbonisation Umas believes electrofuels such as hydrogen, methane and ammonia, will power shipping
Call for more women in shipping UK's National Union of Rail, Maritime and Transport Workers marks Day of the Seafarer celebrations by calling for an increase...
Daily Briefing Major shipping companies unprepared for low-carbon future | Maersk and Bolloré Logistics commit to 20% CO2 cut by 2025 |...
Pilot project seeks to prevent misdeclared cargoes with blockchain With a quarter of incidents on board boxships caused by wrongly identified cargoes, a new initiative is hoping to reduce...
LNG Canada receives $209m funding from federal government A five-party joint venture led by Shell is backing the C$40bn LNG Canada project that will initially export cargoes from...
Chevron linked to proposed ethylene plant in Qatar The new ethylene and derivatives complex will have nameplate capacity of 1.9m tonnes per annum and boost Qatar's polyethylene production...
UAE calls for collaboration to protect energy shipping ADNOC chief executive Sultan al-Jaber says UAE will work with friends and allies to defuse and deescalate the current threat...
European Maritime Law group elects Vincent Power as chairman One of the key topics on the agenda at Emlo's Cyprus meeting this autumn will be the European Commission's Consortia...
Bauxite leads dry bulk trade growth Bauxite trade is expected to expand by 18% this year, Clarksons data shows
Korea P&I Club opens up to rivals on casualty 'experiences Insurer says industry can learn from how it handled two environmentally sensitive salvage operations
Fewer ship losses come as relief, but accident rate is still alarming Last year saw another fall in the number of vessels lost, but the underlying level of incidents remains stubbornly high and should be a cause for attention
Japan P&I drops South Korean discounts after complaints Korea P&I says rival is no longer discounting to win its business
Golden Ocean Group moves forward with share buyback Birgitte Ringstad Vartdal-led bulker player is looking to repurchase six million units
Billionaire Gray shows additional appetite for Troim firms with Borr Drilling buy South African billionaire Allan Gray has deepened his investment in companies controlled by Tor Olav Troim by boosting his stake in Borr Drilling. Orbis takes bigger position in Golar Borr Drilling seals $645m of new finance Gray's Orbis Investment Management snapped up stock worth close to $2m in the Oslo-listed driller today. The shares are worth $1.98m at Borr's present trading price and th
UAE vows to work with allies to deter tanker attacks, says Adnoc Public comments from Adnoc chief executive come after US President questioned whether his country should continue to protect the shipping lane via the Strait of Hormuz
Gemini makes first buy since Danaos debt restructuring US-listed shipowner refinancing has rekindled growth appetite of affiliate
Capital Gas and Maran Gas upbeat on next 18 months Optimism with caution on uncertainties but Tsakos Energy warns on post 2022 redeliveries
Middle East animosity a plus for tankers so far, Tsakos says The political stand-off in the Middle East is having positive side effects for the tanker market so far, major shipowner Nikolas Tsakos said. "It will not sound very politically correct but animosities are good for tanker rates and the market," the Tsakos Energy Navigation (TEN) chief executive told the TradeWinds Shipowners Forum in Athens. "Every animosity creates more and more demand for more
Hafnia snaps up $0.33m of its own shares BW Group-owned tanker company Hafnia has bought back NOK 2.86m ($0.33m) of its own stock. The company told Norway's OTC market that it purchased 143,000 shares at NOK 20 each. After the transaction, Hafnia holds 211,479 of its own shares, representing 0.06% of the company. Hafnia Tankers books profit in first quarter since BW deal closed Hafnia made a profitable start to 2019 in what was its f
Star Bulk rebuys $5m in shares Petros Pappas-led bulker owner in late November initiated programme to repurchase $50m of its own stock.
India sending two warships to Gulf Aim is to protect shipping following tanker attacks.
Paris MOU cracks down on filthy "mephitic" cargoships The Paris MOU state control organisation has revealed details of two cargoships found to be in an "indescribable" and "mephitic" condition in Italy and Greece. The 9,200-dwt general cargoship Virile (built 1992) called at Marina di Carrara in Italy on 6 March to load marble blocks, harvesters and other agricultural vehicles and bulldozers. It was expected to leave on 14 March. The vessel, with
Former Maersk boss Andersen among major players backing Mortensen's new shipowning venture One-time Brondby Football Club, a Singaporean shipowner and a footwear dynasty also involved.
Plato, Conrad, Bob Marley and high spirits: shipping bids farewell to Rodgers Historic tea clipper Cutty Sark is a fitting venue to mark Euronav's 15 years as a public company and Hugo De Stoop stepping up to CEO
Bery Maritime reports strong results and looks positively on 2019 Bery Maritime has reported very strong profit margins in its annual report.. The Oslo-based, fertiliser-focused shipbroker's 2018 results show show that the firm had a pre-tax profit of NOK 20m ($2.35m), against a NOK 1m profit in 2017. Maersk Broker executive trio chart next moves after profitable and expansive 2018 Finance items accounted for NOK 20m of the 2018 profit. President Christian
Tanzania to build new bulker port Tanzania is planning to construct a new dry bulk port in its southern region of Mbeya. The country's ports authority wants to boost trade with Zimbabwe, Malawi, Zambia and Democratic Republic of Congo, the Citizen newspaper reported. It cited deputy minister for works, transport and communications, Atashasta Nditiye, as saying the terminal will be linked to the Tanzania-Zambia railway line. C
John Fredriksen's Frontline tipped to follow up VLCC resale deal and newbuilding play in rising tanker market John Fredriksen's Frontline is expected to follow up its VLCC resale and product newbuilding swoops with the purchase of additional tankers at a time IMO 2020 and political tensions are seeding the market. Charters behind double VLCC strike by SK Shipping emerge as price focus intensifies Two secondhand VLCCs and MR tankers attracting interest Frontline grabs VLCC resale and orders LR2s Middle
Five MSC Gayane crew remanded in custody Seafarers to face federal trial in $1bn cocaine smuggling case.
Charters behind double VLCC strike by SK Shipping emerge as price focus intensifies South Korean shipowner diverges from its normal buying strategy by taking resale newbuildings
Vitol building LSFO refinery in Malaysia Trader and owner looking to supply IMO 2020-compliant fuel in Asia.
Uljanik Plovidba sells MR as restructuring begins Croatia's Uljanik Plovidba has sold its oldest tanker as the first step in its financial restructuring. It said a memorandum of agreement had been signed with an unnamed buyer concerning the disposal of the 53,000-dwt Kastav (built 2009). Court ruling gives Croatian owner Uljanik Plovidba access to accounts Six released in $181m Uljanik fraud probe Handover is expected within two weeks. Vessel
Dof Subsea seeks to align bond and loan covenants Norwegian OSV owner extends one loan as dialogue continues over refinancing
Tokio Marine cuts off UK arm in restructuring move The Tokio Marine Group is to put its UK based company Tokio Marine Kiln Insurance (TMKI) into run off in a restructuring of its business. Tokio Marine said in a statement: "TMKI will stop accepting business from 1 July 2019, apart from Japanese accounts which will be unaffected until 1 January 2020 when they will be underwritten by TMK's sister company Tokio Marine HCC (TMHCC). Two TMK execs q
Stifel raises GasLog with stock in Peter Livanos company trading at two-year low Upgrade to buy comes as LNG market approaches period when its "easier to make money"
Nordea stakes growth on doing more for to selective client list Nordic bank will only pursue profitable deals with long-term, top-tier clients to expand its shipping portfolio
Ditas Denizcilik makes first tanker buy in five years Rare deal by Turkish company highlights 'sensational' S&P activity for MR tankers
Bergshav posts record results but stays 'cautious' on fleet growth Norwegian shipowner 'satisfied' with rise in revenue but ambitions to buy more aframaxes remain unfulfilled
Jacques de Chateauvieux wins new allies in Bourbon bank battle Bourbon owner signs up other shareholders to vote with him as OSV company seeks refinancing solution.
Aframax damaged during mooring in Russia Transneft says berth also damaged during incident at Novorossiysk.
ICTSI: shipbuilding is dead in Subic Bay Philippines ports boss explains interest in Hanjin yard site and why the group will never get into shipping
MPA's new Singapore drop-in centre to handle 20,000 crew a month Pasir Panjang Terminal facility launched as part of events to mark 'Day of the Seafarer'.
Qatargas sets new Turkey LNG milestones Middle East producer says expanded terminal will capture the economies of scale afforded by Q-Flex tonnage.
With teething issues resolved, ONE now faces Trump tariff fallout Japanese joint venture among the most exposed to Asia-US container trade, says analyst.
Oil major cancels Wilforce charter following Singapore collision But Awilco LNG says ship should emerge from repair yard in time for seasonally stronger winter period
Taiwan Navigation clears out veteran tonnage Mainland private owners are the likeliest buyers as a Taiwanese state-owned player puts ships on the block
No summer slump in S&P, says Clarksons Platou Asia's Rowe Constrained supply in dry bulk could cancel the traditional seasonal slowdown
NYK Line and K Line invest in dual-fuelled vehicle carrier newbuildings The 7,000-ceu PCTC newbuildings are backed by cargoes from Toyota Motor Corp
Report: owners falling short of emissions target Non-profit group CDP says shipping companies not investing enough to meet 2050 reduction bullseye
Supreme Court rejects case seeking to halt 232 tariffs Tariffs on steel will remain in place after the court declined to review an American Institute for International Steel case challenging the president's constitutional authority.
US seeks to form coalition for maritime security President Trump on Twitter Monday questioned whether the U.S. should continue protecting non-U.S. ships in or near the Strait of Hormuz.
FedEx lawsuit says EAR violates common carrier status Express carrier giant argues when it comes to compliance with the Export Administration Regulations that it's "a transportation company, not a law enforcement agency."
Georgia senators urge no China tariffs on cranes The ship-to-shore cranes had been removed from List 3 of Section 301 tariffs on China but were later added to proposed List 4.
CDP: Shipping lines not investing enough to meet IMO target Retrofitting vessels and slow steaming are two short-term options to reduce emissions while more transformative technologies are developed, according to a new study.
British Columbia longshoremen contract ratified Employers met Tuesday and voted to accept the new pact negotiated with the International Longshore and Warehouse Union Canada.
Maersk offering guaranteed spot product Maersk Spot will offer shippers guaranteed equipment and space in exchange for a penalty if they don't show up with promised cargo.
Acting CBP commissioner resigns
Company owner sentenced for illegally importing batteries
Crude treads water as market looks to G-20 for direction Crude futures finished Tuesday's session mixed as the market treaded water ahead of the G-20 summit beginning later this week.
Slow steaming a short-term path to meet IMO emissions target: CDP Slow steaming presents a quick-fix way to lower greenhouse gas emissions in the shipping sector.
External: Praxis Energy Agents DMCC
Breach of sulfur cap MARPOL rules will not necessarily impact P&I cover: Gard Gard also said that the 2020 global sulfur cap does not require any amendments to be made to the existing club rules.
US middle distillate Jul deliveries to Europe at 380,000 mt: cFlow "The arb closed because freight went up."
Asian HSFO viscosity spread narrows on strong 380 CST, tight inflow "I think the 380 CST grade is stronger [than 180 CST] because supply is getting tighter," which made the spread narrower, a trader said.
External: Global Risk Management
US temporarily suspends MSC's preferred customs status after drugs seizure The drugs bust was made on board the 2018-built MSC Gayane, a 9,962 TEU vessel that had travelled from South America to Philadelphia.
HSBC sees oil markets tightening in H2 despite recent weakness Brent crude will average $66.50/b during 2019, down from a previous estimates of $67/b, HSBC said.
Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions "I don't think it's a full doctrinal change," Scott Modell, Rapidan Energy MD said.
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