AIDAnova notches up two more LNG fueling firsts Carnival Corporation's AIDAnova, operated by its Germany-based AIDA Cruises brand, today became the first LNG fueled cruise to visit Barcelona, Spain -and the first to be fueled with LNG in the Mediterranean.
Total to hold New York Global Sulfur Cap Forum On May 9, New York's Intrepid Sea Air & Space Museum will be the site of one of a series of Global Sulfur Cap Forums being presented by Total at shipping centers
Is this how to make almost any tug an icebreaker? A new Finnish initiative would enable any ice strengthened vessel to be used for icebreaking, using a motorized removable bow powered by Danfoss Editron. The Finnish Transport Infrastructure Agency has launched a
Newly-merged EnscoRowan takes delivery of jack-up Offshore driller EnscoRowan has taken delivery of its first newbuilding rig since its formation by the merger of Ensco plc and Rowan Companies plc, which completed April 11, The rig, the harsh
Digitalisation survey identifies owners' enthusiasm for new tech - along with the common need for a solid business case to justify investment A survey of attitudes towards digitalisation reveals that most shipping professionals are keen to explore new technology as a solution...
From the News Desk: Businesses are also a cyber risk Forum in Athens to ponder the massive danger of cyber criminals using ships as weapons
Will Stellar Daisy lessons be learned too late? An industry participant has said that by the time any amendments are made for improved safety, the converted very large...
Iran-China crude flow is moving via ship-to-ship transfer network Lloyd's List vessel tracking data reveals how a network of Chinese-controlled tankers are moving Iranian crude and switching off AIS...
Marine rates hardening in US, Middle East and Singapore 'Ultimately from a broker's standpoint, the market would seem to be - from a geographic standpoint - equalising and calming...
OOCL revenue and volumes rise in first quarter Slow growth in transpacific and intra-Asia trades constrains growth at Hong Kong-based carrier
The Lloyd's List Podcast: Here's how we decarbonise shipping Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Shipping's 'Paris Agreement' needs its regulators At one year old, shipping's 'Paris Agreement' requires regulators taking bold steps if it is to grow into something meaningful
Yard Talk | Chance for a Japanese renaissance South Korea and China have eaten away at the Japanese share of the shipbuilding market in recent years
Tanker trends: Certainty of uncertainty Tanker demolition is not expected to accelerate until the end of the year, when owners will gain clarity about how...
Hutchison Port Holdings lowers container throughput growth forecast HPH chief executive Gerry Yim has warned of 'a slowdown' at Yantian terminals this year, though qualifying that there has been no sign of...
MOL back in the black as domestic rivals struggle All three lines expressed optimism that their investments in the ONE container shipping joint venture would finally bear fruit and...
P&O sues UK over no-deal Brexit ferry contracts P&O claims that the award of £33m of public money to Eurotunnel put its business at a 'competitive disadvantage'
Container freight rates set to remain subdued Efforts to maintain capacity discipline have failed to raise the outlook for rates
Bunker Holding Group secures $1bn credit facility The new money will help refinance and increase a $650m revolving credit facility
Western Bulk appoints new chief executive as Ismar exits The new head Hans Aasn's, who was appointed by the board, assumes his role in July
The Interview: Richard Turner Son of an Anglican priest from Essex, Richard Turner now heads both the International Union of Marine Insurance and RSA's...
Daily Briefing LNG capacity expecting approval hits new high | Russia starts new plant to supply LNG bunker | Exclusive interview with...
Petronas takes 50% stake in Brazilian offshore fields Move marks an important milestone for Petronas as the company diversifies and expands its oil business portfolio in South America
Novatek sells stake in Arctic LNG 2 project to China China is seen as one of the key consuming markets for Novatek's LNG sales and the Russian company has previously...
ONE expects profits in fiscal year 2019 ONE posted a net loss of $96m in the fourth quarter ended March 31, 2019
Port of Los Angeles moves to counter maritime cyber crime The proposed centre will be a collaborative effort to share cyber threat information across a range of companies within the...
NYK replaces president after huge losses Nagasawa currently oversees the company's automotive transport, dry bulk and energy shipping businesses
Pengerang completes first LNGC gas up-cool down Petronas-owned LNG carrier Puteri Zamrud Satu has already departed from Pengerang on completing the gassing up and cooling down operation and...
Okeanis sees tanker market uplift from third quarter Chairman and chief executive Ioannis Alafouzos says new company is primed to seize a generational opportunity
Tyler Baron becomes Minerva Bunkering CEO Mr Baron was one of three board appointments made last May to end litigation from a group of activist investors
US west coast container imports dip year on year By comparison, this February the nine US east coast ports monitored by the PMSA posted a combined increase of 3.3%...
Knud E Hansen goes back to China for ro-ros Knud E Hansen is going back to Nanjing Jinling Shipyard to develop three more ro-ros for the Grimaldi Group. Knud E Hansen unveils Grimaldi ro-ros This time, the Danish ship designer is working on ships for the Italian shipower's subsidiary Finnlines. The trio of ships are expected to be delivered starting in 2021 and will have more than 5,000 square metres of vehcile decks while carrying the h
Bahamas to investigate 2017 Carnival sewage dumping US judge releases report showing 13 incidents in which Carnival illegally dumped treated sewage in Bahamian waters while on probation.
Cosco's container unit boosted by higher freight rates and OOIL deal Cosco Shipping Holdings says its dual-brand strategy is working as shipping revenues increase.
VLGC market remains on upward curve despite bull-run taking a breather VLGC owners have seen the second longest bull-run in history come to an end but analysts believe there is plenty more to come from the recovering market. Rates for the largest LPG carriers have been climbing consistently for the past month but lost a little ground yesterday to snap the winning sequence. Exmar set to finalise VLGC newbuilding order at China's Jiangnan Shipyard Promise of six-fig
Product tanker upturn the real deal, says Concordia Maritime chief Kim Ullman Product tanker owners are experiencing the early stages of a multi-year upturn, according to Concordia Maritime chief executive Kim Ullman. A first taste of the good times came in the final three months of 2018 and now volatility has arrived with rates at higher levels. Concordia Maritime clocks up profit as tanker market positions for cyclical takeoff Concordia Maritime: tanker market upswing
Chinese LNG investment crucial due to Russian sanctions Chinese investment in Russia's new Arctic LNG 2 project is viewed as vital by Deutsche Bank (DB) due to potential financing problems caused by western sanctions. China's CNOOC and CNPC each agreed to take a 10% stake in the Novatek-led scheme on Thursday, with France's Total already having bought 10%. Novatek to end LNG transhipment in Norway Chinese buy into Novatek's new Arctic LNG 2 project
P&O sues UK over Eurotunnel Brexit pay-out The fall-out from the UK's awarding of post-Brexit ferry contracts has continued with news that P&O Ferries is suing the government. The UK operator is objecting to a pay-out of £33m ($44m) to rival Eurotunnel to settle a court case against the UK state. UK faces paying out millions more in Brexit ferry fiasco UK government cancels Seaborne Brexit ferry contract This legal battle was prompted
Flagship China Shipbuilding Industry Corp unit sees costs chew into bottom line First-quarter results at China Shipbuilding Industry Co Ltd (CSICL) were hit by high steel costs and rising expenses in research and development, even as the Shanghai-listed shipbuilder managed to stay in the black on one-off accounting gains. Excluding all one-off items, CSICL posted net loss of CNY 535m ($79.4m) for January-March, compared with a net profit of CNY 255m during the same period of
Hong Kong shipowner TCC Group sells oldest capesize bulker for scrap TCC Group of Hong Kong is believed to have sold its oldest capesize bulker for demolition. Its move comes at a time shipowners are showing an appetite for scrapping bulkers at a relatively young age given a weak market this year. Korea Line Corp sells capesize bulker for scrap Seanergy Maritime eyes equity raise Vale mine reopening delivers 'very good news' for battered capesize market Source
Marshall Islands plans safety talks to prevent repeat of Stellar Daisy tragedy The Marshall Islands is set to open up talks at the IMO for a revision of the Safety of Life at Sea (Solas) convention to ensure bulk carrier conversions like the Stellar Daisy are built to a safe standard. The move comes following recommendations made in its report into the loss of the VLOC Stellar Daisy and 22 seafarers' lives in March 2017. The Stellar Daisy's technical dimensions, with its h
LSC takes on new Vitol VLGCs Latvia's LSC has taken over management of the first of Vitol's new VLGCs. The Vitol-controlled company already manages some of the group's tankers, but has now added the 84,000-cbm Vivit Dubhe to its fleet. Vitol boosts tanker fleet with Sargeant deal Vitol, Union Maritime move more MRs to LSC The ship was handed over last month from Hyundai Heavy Industries (HHI). LSC said the vessel is the
Box volumes and revenue rise at OOCL Hong Kong container line OOCL has posted an increase in container volumes and revenue for the first quarter. The owner, now controlled by China's Cosco, said it carried 1.6% more boxes at 1.6m teu year-on-year, up from 1.57m teu in 2018. Revenues jumped by 5.9% to $1.46bn, as loadable capacity increased by 2.3%. The overall load factor was 0.5% lower than the same period in 2018, but overall av
Johs Thode exits shipowning after selling last boxship Germany's Johs Thode has finally exited the shipowning business. The Hamburg-based shipowner is understood to have sold its last vessel, the 1,118-teu Hanse Fortune (built 2006). The container feeder vessel was the last of four vessels to be sold in the past few weeks. Details of the transaction remain unclear, but German financial sources said the companies that owned the Thode ships were decl
Tanker newbuilding deliveries reach record levels in first quarter of 2019, says Clarksons Tanker newbuilding deliveries reached record levels in the first quarter of 2019 bringing a sharp upturn in fleet growth after a stable 2018, according to data from Clarksons. Clarksons: markets 'recalibrating' ahead of IMO 2020 Case highlights 'massive misvaluation' of shipping companies in capital markets JP Morgan welcomes VLCC order slowdown after 'scary' start to 2019 With a front-loaded
Glencore faces second US trading probe Trading and chartering giant Glencore is facing another US probe. It said it had been informed that the US Commodity Futures Trading Commission (CFTC) is investigating whether the company may have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations through corrupt practices in connection with commodities. "Glencore understands that the CFTC's investigations are at a
Novatek to end LNG transhipment in Norway Russian producer Novatek is set to end Yamal LNG cargo transhipment in Norway. It is planning to move the operation to the Murmansk region of Russia by the end of the year, the Interfax news agency reported. "We have agreed on a location with the defense ministry, it's close to Kildin Island, but we need a decision to expand the Murmansk port's territory, on checkpoints," said Novatek chairman L
NS United merging VLCC, gas and bulker operations Japanese owner NS United is combining its tanker and gas carriers operations with some of its bulker business. The idea is to "strengthen its energy services", it said. NS United boosted by rising capesize market Two coal carrier/bulker teams handling domestic and general services will be merged with its oil and gas team carrying out services and fuel procurement. The new energy group will be
Cosco Shipping Bulk turns to Beihai to extend newcastlemax newbuilding drive Cosco Shipping Bulk has swooped for three more newcastlemax newbuildings to add a second tranche of ships to a major project. Cosco Shipping Bulk inks first round of newbuildings in newcastlemax project Polaris Shipping appoints bookrunners for IPO in Oslo Fresh from inking up to 10 vessels at Cosco HI Yangzhou earlier this week it has now placed a trio of 210,000 dwt bulkers at CSIC Qingdao Be
Credit impairment rises at Swedbank Credit impairment is on the rise at Sweden's Swedbank. The lender said the figure for the first quarter was SEK 218m ($22.9m), up from SEK 127m in the same period of 2017. Swedbank slashes impairments in 2018 Net interest income was up at SEK 11.36bn versus SEK 10.68bn Net profit rose to SEK 5.27bn, against SEK 5.03bn in 2018. It highlighted increased loan volumes and said its credit quality
Dr Peters down to two tankers after sale of suezmax duo to Moundreas family German shipping player Dr Peters Group is left with just two tankers after selling an 18-year old suezmax duo to NGM Energy, a Moundreas family company. European market sources said the 150,000-dwt sisterships DS Symphony and DS Melody (both built 2001) changed hands at close to $12m each. The vessels, built at Sasebo Heavy Industries, were among a group of tankers redelivered to Dr Peters abou
Bunker Holding seals $1bn finance deal Danish fuel supplier Bunker Holding has secured new financing worth $1bn. The unsecured revolving credit facility involves a syndicate of 12 banks. PPG boosts financing to more than $700m The family-owned company said this is one of the largest corporate credit facilities to date in the industry and supports its continued growth and the need for further financial flexibility in the light of IMO
Containerships clobber K Line as result turns red Japanese giant K Line has slipped to a loss in the year to 31 March as its new containership venture with NYK and MOL hit the bottom line. The company said the net deficit was JPY 111bn ($99m), against a JPY 10bn profit in the previous 12 months. Revenue declined to JPY 837bn from JPY 1.62 trillion. New K Line CEO launches business review Bulkers saw profit grow to JPY 4.4bn from a loss of JPY
Trio vie for Hanjin's Subic yard Three foreign groups are battling to take over the Hanjin Heavy Industries & Construction shipyard in the Philippines. Hanjin's Philippines claims total $1.71bn The country's trade undersecretary Ceferino Rodolfo was cited by Business Mirror as saying that the trio had pledged to devise business plans for the company, which sought court rehabilitation in January after defaulting on debt. The th
Reborn owner Shanghai Junzheng Logistics plots fleet renewal after Sinochem deal Successor of Sinochem International Logistics is planning a gradual fleet renewal
Mitsui OSK Lines outperforms rivals as it returns to profit Wet and dry segments help offset poor performance and containership arm at Japanese giant.
LNG man set to take over the reins at NYK Forty-year company veteran set to be next president as Tadaaki Naito is named as next chairman.
Teekay LNG Partners confirms Petrobras charter extension US-listed LNG carrier owner also confirms that promised dividend increase has kicked in.
Impairments drag NYK to $400m full-year loss Continued problems at Ocean Network Express (ONE) continue to haunt Japanese liner giant.
Ultra Deep Solutions joins hunt for top secret jet fighter Singapore subsea owner's vessel has been chartered to help carry out underwater search.
Houston trying to balance shipping, energy industry interests The port also is looking to speed up a project to widen its main shipping channel.
Manufacturers need tools to adapt to USMCA Manufacturers should prepare for increased regional value content for the automobile sector, speakers said during an American Shipper webinar.
ONE reports $586 million loss in 2018-19 fiscal year Ocean Network Express, the container shipping company owned by NYK, MOL and "K" Line, forecasts a profit in the current fiscal year.
Japanese shipping companies expect better year ahead Results of NYK, MOL and "K" Line suffer from loss by their joint venture, Ocean Network Express.
USTR adds Saudi Arabia to high-priority IP concerns list The Office of the U.S. Trade Representative released its annual "Special 301" report on Thursday.
DHS steps up targeting of illicit opioids at source The Department of Homeland Security and Justice and State departments are working with counterparts in China, Mexico and Central and South America.
Executive Moves: Avianca, New Orleans Public Belt Railroad
Yantian Express set for repairs in China in August
Estes bids to acquire equipment from bankrupt trucker
APHIS keeps inspection reserve fund in place
CMA CGM adding Vietnam call during cashew nut season
Trump asks OPEC to boost oil supply, blames state taxes for gasoline prices US President Donald Trump showed Friday he remains focused on domestic gasoline prices
China, US face off on Iranian crude flows, with risks to global economy China and the US are in an intense standoff over Iranian crude oil
Crude settles lower amid profit-taking, Trump comments Oil futures ended the week sharply lower as traders booked profits
ARA fuel oil stocks rise 11% following closed arbitrage east Fuel oil stocks in the ARA hub rose week on week
TRADER NOTE: Bunker trader Davide Anghinoni moves to Saras Bunker trader Davide Anghinoni has moved to Saras Trading SA from Toyota Tusho UK
Singapore HSFO sentiment firms on hopes of lower Western inflow; stocks at 15-month high The Singapore high sulfur fuel oil market is expected to rebound in the near term
Hoegh Autoliners launches IMO 2020 preparations Hoegh Autoliners said it has started preparing for the lower sulfur cap for marine fuel from 2020
Singapore's MPA suspends Southernpec's bunker craft operator license MPA has also suspended the bunker tanker, Southernpec 7, from conducting bunkering operations at the port.
External: Global Risk Management
Commodity trader Trafigura ships Venezuelan crude from Europe to China The 157,271 dwt tanker Marlin Savanah arrived in the outer limits of Qingdao port on April 11, carrying a cargo of Merey 16 crude owned by Trafigura.
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