Svitzer trials remotely operated tow line catcher Connecting heaving lines at sea is one of the most critical parts of day-to-day towage operations, however it presents significant risk to crews, particularly from a center lead forward position where tugs
Marlink to launch new service at Nor-Shipping Satellite communications specialist Marlink is to introduce a new service called Sealink Global 4G at Nor-Shipping 2019. The turnkey solution provides everything needed to leverage fast, low-latency mobile services when in network
Louisiana shipyard to convert OSV for new Navy role Thoma-Sea Marine Constructors LLC, Lockport, La., has won a Navy contract worth $11,638,510 to purchase and convert an existing offshore supply vessel into an Atlantic Undersea Test and Evaluation Center range support
From the News Desk: Innovation and emissions opportunities emerge, but uncertainty prevails A weekly tour of the stories that the Lloyd's List News Desk consider to be required reading
StealthGas starts share buyback Liquefied petroleum gas carrier owner says it has triggered share repurchases because stock is undervalued
EuroDry posts higher profit than expected Greece-based owner of seven bulkers says market fundamentals will support better rates in the future as a larger fleet and...
Shipping sector faces 'huge challenge' to tackle emissions ITF ports and shipping administrator Olaf Merk explains shipping will need a mixture of measures to decarbonise
MSC crew abandon listing containership The 4,395 teu MSC Matilde requested immediate evacuation of its 23 crew members at around 0200 hrs today
Star Bulk sees little risk to scrubber strategy from ban Executives at the dry bulk owner claim science points to negligible environmental concerns and see chances of an international ban...
The Lloyd's List Podcast: Ports, politics and procedure Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Heerema takes the plunge with world's first LNG-fuelled heavylift semisub 'If we invest in an LNG-fuelled vessel, we can help make green regulations come into force' - Pieter Heerema
Union raises concern about UK flag expansion policies Nautilus International fearful that latest changes from the UKSR could undermine quality
Dynagas orders LNG brace at Hyundai The George Prokopiou-led company is the hitherto unidentified owner behind this week's order of two LNG carriers at the South...
Daily Briefing US monthly Russian crude imports to surpass Saudi shipments | Xiradakis aiming to fight shipping cause in Brussels | Exclusive...
The Interview: Robert Yildirim Little known in shipping circles until he came to CMA CGM's rescue in 2011, Robert Yildirim has become a force...
Maersk warns trade tensions threaten shipping growth The world's largest container line reported a good start to 2019 but warned that 'considerable uncertainties' as a result of...
Zhuhai Port alters fleet expansion plans Company has made multiple changes to its ship acquisition plan that will be partially funded by a private offering it...
MOL Chemical Tankers eyes hybrid scrubbers for some vessels If Drewry's projection for the larger sector is any indication, MOLCT as with its bigger rival, Stolt Nielsen, may turn...
EuroDry bullish on dry bulk for second half of 2019 Lower vessel availability may result in higher charter rates, chief executive Aristides Pittas said.
Coral Expeditions returns to Vard in Vietnam with repeat cruiseship order Australia's Coral Expeditions has returned to Vard's Vung Tao shipyard with an order for a cruiseship only weeks after taking delivery of its first Vietnam-built vessel. Coral managing director Paul Chacko revealed to the online publication Cruise Industry News that an order has been placed for a second expeditoon ship that will be delivered in December 2020. To be named Coral Geographer, it wil
DSD gets healthy price for sale of ferry subsidiary Norled Norway's Det Stavangerske Dampskibsselskab (DSD) is selling ferry company Norled to international investors. Yuhong Hermansen-controlled DSD struck a deal to hand the subsidiary over to Nordic infrastructure fund CapMan Infra and Canada's CBRE Caledon Capital Management. These two companies are each buying a 50% stake. The price of the deal is being kept confidential, but Norwegian daily Finans
KNOT Offshore posts lower first-quarter profit KNOT Offshore Partners posted lower profits in the first quarter thanks to increased financing costs. The Gary Chapman-led shuttle tanker owner also announced it extended the maturity of its $25m unsecured credit facility coming due in August. For the first three months of 2019, KNOT posted $12.9m in profit, down from the $30.7m from the same period in 2018. Revenues and expenses stayed largely
Shareholder group decries discounted Teekay Offshore offer Brookfield Business Partners' offer to take Teekay Offshore private severely undervalues the company, shareholders argued in a letter Friday. New York-based JDP Capital Management and 16 other shareholders said the offshore player is worth a minimum of $4 per share, much higher than Brookfield's $1.05 per share offer made Monday. Brookfield moves to take Teekay Offshore private Teekay FPSO wins
Tor Olav Troim's 2020 Bulkers banks $70.2m ahead of full listing in Oslo Tor Olav Troim's 2020 Bulkers has banked $70.2m as the newcastlemax specialist set sail for the Oslo Stock Exchange. Troim's 2020 Bulkers sets course for Oslo Stock Exchange with $70m placement Tor Olav Troim: Golar's LNG evangelist 2020 Bulkers eyes listing with fresh loan, key hires and first contract in the bank New and existing shareholders supported the issue, which saw 7,800,000 shares p
John Fredriksen's Ship Finance International banks $80m bond purse John Fredriksen's Ship Finance International has tapped the Norwegian bond market for $80m. Golden Ocean strikes refinancing deal as dividend stays in place in first quarter Fredriksen's Ship Finance still gunning for growth after $1.2bn spree in 'jubilee' year Ship Finance, which invested over $1bn to grow its fleet last year, worked with DNB Markets, Nordea, SEB, Arctic Securities and Danske
Portline: engineers violated training in magic pipe case Portuguese manager Portline Bulk International (PBI) has said certain engineers on a bulker went against its express training in a US pollution case. The company agreed to pay $1.5m after it admitted in a plea deal that engineers on the 51,000-dwt Achilleus (built 2001) had falsified entries in a record book used to track the disposal of bilge water. Portline bulker's oily water separator 'just
Piraeus Bank "exploring options" for bad bank Greek shipping lender Piraeus Bank has said it is "exploring options" to manage its non-performing loans (NPL) - and has not yet sold its asset recovery unit. It said a process was being carried out in the course of implementing its strategic plan and meeting supervisory commitments. Piraeus Bank cuts bad loans by $6.2bn Selling Nemo: Piraeus Bank "offloading $680m portfolio" "In response to q
TNG boosts MR cover with US charter deal Croatian owner Tankerska Next Generation (TNG) has cliched more contract cover for its MR fleet. The company said one of its six vessels had secured a six-month charter with an unnamed US client. TNG fixes out MR tanker on term deal TNG CEO Karavanic confirmed in role for another four years There is an option for the charterer to extend this for 12 months. The rate is $17,100 per day. TNG re
Heerema Marine launches record-breaking, $1.5bn 'ship of the future' Heerama's Sleipner ready to revolutionise the offshore construction sector.
Maersk boss Skou shoots down price war talk as Trump's battle with Beijing dents container shipping demand Soren Skou shot down rumours Maersk Line had started a price war in the container market as the world's largest shipowner warned of escalating trade tensions between the US and China clouding its market outlook. AP Moller-Maersk chief executive Skou was forced to defend the company's performance in a conference call after it reported a weaker than forecast first quarter performance which tipped i
MSC boxship found to be listing An investigation has begun in the UK after an MSC boxship was found to be listing in dock in Liverpool. The Swiss shipowner told TradeWinds that the discovery of the problem with the 4,392-teu MSC Matilde (built 1999) was made early on Friday morning. "As a precaution, to ensure the safety of the captain and crew, they were disembarked from the vessel," it added. "There were no reports of injur
How to negotiate the IMO 2020 legal minefield Leading shipping lawyers have warned of the potential for thorny legal disputes arising from the new IMO 2020 sulphur fuel rules. Speaking at a seminar in London, Quadrant Chambers barrister Thomas Macey-Dare QC said legal action could arise from arguments over the respective responsibilities of owners and charterers. IMO 2020: The tsunami that's heading your way IMO tightens efficiency rules f
MISC profit jumps on higher tanker rates Malaysian tanker and gas carrier owner MISC has benefited from better markets as profit rose in the first quarter. Net earnings were MYR 510.5m ($121.8m) versus MYR 310.6m in the same period of 2018. Revenue grew to MYR 2.28bn against MYR 2.02bn, it said. AET's dual-fuelled aframax bunkers first LNG in Rotterdam LNG carriers produced revenue of MYR 625.4m , up 7%, as the fleet increased in siz
Okeanis Eco Tankers moves into profit during first quarter as 2020 vision takes shape Alafouzos family backed Okeanis Eco Tankers has moved into profitable territory for the first quarter with the company now taking delivery of its VLCC newbuildings into an improving market. Okeanis sees rising investor interest in tankers as part of energy upswing Alafouzos family backs fresh $15m Okeanis Eco Tankers private placement Okeanis Eco Tankers sets out spot and dividend goals as mark
Olympic Subsea fixes six-month deal with Siemens Stig Remoy-led Olympic Subsea has clinched a renewables contract with Siemens Gamesa subsidiary Adwen. The Norwegian owner the 4,900-dwt support ship Olympic Orion (built 2012) has been fixed for six firm months, with further options. The deal starts in the second quarter. Olympic Orion is equipped with a gangway system, a 100-ton crane and accommodation module to perform projects on wind farms
Teekay Offshore Partners banks 16 tanker loan Teekay Offshore Partners has wrapped up funding for 16 shuttle tankers. Brookfield moves to take Teekay Offshore private The MLP says the funds come from a $450m revolving credit facility. Teekay Offshore, which does not name the banks on the deal, explains the loan is priced at Libor + 250 basis points and carries an 8.4-year profile. The company has assets of $5.2bn and is owned by Brookfi
Greek shipowner Nikolaos Vafias goes on $63m shopping spree Dry cargo veteran invests in capesize bulker and two LPG carriers in a single week
Maersk cuts loss as it launches $1.5bn buyback Danish giant AP Moller-Maersk has logged a reduction in its first quarter loss as it cut costs at boxship division Maersk Line. The net deficit to 31 March was $69m, down from $329m in the same period of 2018. Revenue increased by 2.5% to $9.5bn, with the Ocean division putting on 1.7%, terminals and towage 8.8% and logistics and services stable. ITF says Maersk seafarer fell overboard while un
Empire Bulkers ruling gives owners upper hand in deck cargo disputes The UK high court has excused a Greek bulker company from liability for damaged deck cargo due to the wording of a bill of lading, in what has been called an important ruling for shipowners. Stephen Hofmeyr QC, sitting as a judge of the Queen's Bench Division, backed Elin Maritime against cargo interests including Globtainer, Algerian Qatari Steel and AIG Europe. Court rules cash buyers can be p
Bond trustee forces through sale of Boa OSV duo Norwegian bond trustee Nordic Trustee is forcing through a sale of two Boa SBL seismic survey vessels. It said that it had considered it necessary to use a stock accession option to hand control of the Boa Offshore subsidiary to bondholders to complete the disposal of the 80-loa Boa Galatea (built 2008) and Boa Thalassa (built 2009) to compatriot SeaBird Exploration. SeaBird lines up $22m deal f
ITF says Maersk seafarer fell overboard while unlashing Union calls on Transport Canada to stop practice on St Lawrence River after seafarer's death.
US-listed shipping stocks see major sell-off Dorian LPG, Seadrill, Scorpio Bulkers and Star Bulk Carriers worst affected as investor flee risky assets.
Singapore arrests seven for illegal MGO dealings Police Coast Guard and Maritime and Port Authority in joint operation off Benoi Basin.
Petronas completes second breakbulk LNG STS Malaysian oil giant says operation reflects its ability to respond to the changing landscape of LNG delivery.
Maersk 'focused on profitability,' not starting price war CEO Skou reports "good progress" on business transformation, but says new tariffs could potentially reduce expected growth in global container volumes by 1%.
Maritime History Notes: 150 years of shipboard refrigeration Significant progress with shipboard refrigeration was finally attained in 1878, when the Paraguay arrived at the Port of Le Havre with 5,500 frozen carcasses in good condition.
Port of Virginia lays out rail strategy Port authority's long-term goal is to become the East Coast port leader for railed containers to the Midwest.
IMF details likely negative effects of U.S.-China tensions The most recent and announced potential future duties will reduce global GDP, the intergovernmental group stated in a report released Thursday.
Baltimore welcomes largest containership to call port
Lawmakers lauded for supporting ports, maritime industry
Yantian Express cargo discharge to take at least 12 days
Middle distillate stocks at 10-week high as exports fall: Enterprise Singapore Outflows of gasoil from Singapore over May 16-22 fell 31.44% week on week to 279,481 mt.
Singapore thirst for low sulfur fuel oil supports European and US hi-lo "About 10 VLCCs are taken for storing LSFO," a trader based in Singapore said.
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