Bollinger names Chris Remont EVP New Construction Bollinger Shipyards has promoted Chris Remont to Executive Vice President of New Construction Programs. In this role, Remont will assume responsibility of overseeing all commercial and government new construction programs for the
Eastern delivers first FMT newbuild with Sub-M certificate Eastern Shipbuilding, Panama City, Fla., has delivered the first new construction towboat in a long running series to be issued a USCG Subchapter M Certificate of Inspection (COI). The vessel, M/V Brian
NCDOT ferries feature Schottel STP propulsion Two 185 ft vehicle ferries under construction at Gulf Island Shipyards, Houma, La., for the North Carolina Department of Transportation will each be equipped with four Schottel type STP 150 L Twin
W&O picked for Offshore Patrol Cutter valve supply Eastern Shipbuilding has selected Jacksonville, Fla., headquartered W&O Supply as the major supplier of valves for the United States Coast Guard's new Offshore Patrol Cutters (OPC). The Offshore Patrol Cutter is the
War risk premiums poised to surge as Middle East tensions rise Two groups representing tanker owners and operators warned members to upgrade maritime security when transiting the region in a notice...
Iran increases crude shipments to Syria Suezmax carrying about 1m barrels of crude spotted discharging off the Syrian port of Baniyas - it is the third in a...
Venture Global secures $1.3bn Calcasieu Pass investment Deal with Stonepeak Infrastructure Partners puts the 10m tpa LNG export facility closer to its 2022 start-up date
Australia LNG looks to capitalise on US-China tariff tiff advantage Western Australia's mooted net-zero emission policy can still set back the Browse project and in this respect, Coleman argued that...
Safe Bulkers posts profit despite weak dry market Owner recently began retrofit programme to install scrubbers on half the fleet
Transpacific traders and carriers face uncertain times The unresolved trade tensions between the US and China have left carriers and shippers in an unpredictable situation with no...
Traxens gets third carrier backer Maersk joins CMA CGM and MSC in investing in and buying from container tracking device manufacturer Traxens
CMA CGM and MSC to join TradeLens UPDATE: Maersk wins backing for blockchain development with addition of two additional carriers, helping to sell the project as a...
Danaos Corporation signs $150m sale and leaseback deal with EnTrust Global Danaos will put the proceeds to various uses, including the partial refinancing of loans secured on the vessels
Consortia rules boost carrier efficiency Cost savings passed to shippers from the formation of alliances should encourage Brussels to maintain consortia rules
Former Rickmers chief executive Van Meenen to join MPC Capital Board 'With Ignace Van Meenen, we have gained a versatile and experienced investment manager' - MPC Capital chairman Axel Schroeder
Ten killed in China shipyard accident The ageing dry bulk carrier was being drydocked at the yard in eastern China when the accident happened
Daily Briefing Star Bulk supersizes takeover tally | CSSC looks for $250m in IPO | LNG to dominate gas trade | Methanol...
Star Bulk agrees acquisition of 11 bulkers from Kelso The company added about 40 vessels to its fleet in 2018 with a variety of acquisitions
Regasified LNG only a bridging solution to southern Australia's gas woes Australia is set to resort to importing LNG to meet demand along its southern coast because most of its producing...
CSSC Shipping seeks $250m valuation in Hong Kong IPO Yard-backed leasing house CSSC Shipping will use about 60% of the net proceeds to strengthen the capital base of its...
Vallianz warns of full-year loss due to impairments However, the offshore support vessel provider still expects to report profits at the operating level if the impairments are excluded
LNG forecast to make up 80% of global gas trade by 2040 Increasing LNG trade volumes will result from its use as a bridging energy source as the global economy seeks to...
Methanol fuel group selects nine vessels for research The aim is to find insights into the feasibility of using methanol to power different ship types across a range...
Freightos claims sales spike heralds freight's digital future Outfit says volumes are up 200% as it tackles issues around cargo no-shows, overbooking and price volatility
Ocean Longevity closes in on sales of its four oldest vessels A major Hong Kong bulker owner appears to be in the process of disposing of its oldest tonnage
Tightening market lifts rates for bigger boxships by 50% Rising demand for larger containerships has knock-on benefit for intermediate sizes
Option deadline again extended for Ocean Yield FPSO Aker Energy is getting even more time to decide what to do with a laid-up Ocean Yield FPSO. Ocean Yield announced that the Norwegian oil and gas outfit has until 1 September to decide whether or not to execute the 15-year bareboat charter option it has on the 214,266-cbm Dhirubhai-1 (built 1979). Ocean Yield results fall amid less revenue Rokke extends option period for Ocean Yield FPSO Ocean
Solstad still eyeing financial restructuring amid balance sheet pressure Solstad Offshore says it continues to believe it will need to undergo "comprehensive" restructuring to improve its financial position, despite markets improving during the first quarter 2019. Solstad Offshore unit agrees debt freeze "The long-term viability of the company's and the group's business depends on the company finding a solution to its financial situation," the Oslo-listed offshore su
Belships targets $15m purse from private placement in Oslo Belships has put the wheels in motion for a private placement of new shares backed by company insiders. The Oslo-listed bulk carrier owner aims to raise up to $15m through the issuance of around 18.6m new shares, which have been priced at NOK 7.00 each. Active S&P player Belships mulls extra 'ships for shares' deals Belships' changes offer breath of fresh air in Norway The application period
Scrubber investments not takeovers top Safe Bulkers to-do list, says Polys Hajioannou Safe Bulkers plans to keep scrubber installations this year as its top priority amid a shipping sector seeing further consolidation. Star Bulk Carriers yesterday announced plans to buy Deplhin Shipping's 11 ships for $139.5m, after growing its fleet by 41 ships last year. In early April, Genco Shipping & Trading's John Wobensmith told TradeWinds it will look for M&A opportunities to enlarge its
Reach Subsea sees better days ahead as it trims its quarterly loss Reach Subsea has trimmed its loss for the first quarter, despite lower vessel utilisation in the low-season North Sea spot market. The offshore support vessel (OSV) owner's net loss totalled NOK 18m ($2.1m) for the quarter, compared to a net loss of NOK 19m during the same period in 2018. Fleet growth helps Reach Subsea cut loss in 2018 Reach charters Topaz subsea newbuilding First-quarter rev
$34m super-yacht falls from cargoship A $34m luxury yacht has been lost from a cargoship that encountered a storm in the Mediterranean. Liguria Nautica reported that the 12,800-dwt Brattingsborg (built 2010) was transporting the boat from the Caribbean to Italy when it fell into the sea in the Gulf of Lion. The 2016-built yacht, My Song, is owned by Italian businessman Pier Luigi Loro Piana. It is believed to still be afloat. My S
Egypt 'discharges' seized suezmax's crude cargo The Egyptian navy is said to have discharged the Iranian crude cargo on a UAE-owned suezmax detained there since December. AIS data shows the 163,000-dwt Sea Shark (built 1991) at anchorage south of Suez on 25 May. It had been moved to the Ain Sukhna terminal last week, a source close to the crew told TradeWinds. Egyptian navy takes seized suezmax into terminal Crew reveal 'mental torture' on
Coup for Maersk as MSC and CMA CGM join blockchain platform Boxship giants MSC and CMA CGM have joined Maersk and IBM's blockchain shipping platform TradeLens. Data for nearly half of the world's ocean container cargo will now be available, the companies said. "We're excited to have these two major carriers join. We have been in discussions with them since the end of last year, but talks picked up in earnest in the first quarter," TradeLens CEO Michael W
IEA says shipping needs to do more or misses emission targets The IMO should tighten operating and newbuilding rules, promote low-carbon fuels and adopt a CO2 pricing scheme by 2023, according to the energy watchdog.
Carnival executives ordered to appear in federal court US government and Arnold Donald-led cruise major reach accord on pending resolution to take away probation for environmental malfaisance.
Charters help shield Safe Bulkers from dry depression in profitable first quarter Safe Bulkers remained in the black for the first quarter of 2019 as contract coverage on its fleet helped shield the New York-listed company from a depressed freight market. Polys Hajioannou's Safe rang in a profit of $5.4m in the opening three months of 2019, down 10% on a year-on-year basis following a Vale dam disaster this January which sent rates into a tailspin. Safe Bulkers' Polys Hajioan
Navios Maritime adds panamax as it sells handy Greece's Navios Maritime Holdings has revealed more sale and purchase activity that has improved its average fleet age by 20%. It said that it has agreed to buy a formerly chartered-in panamax bulker, the 77,000-dwt Sea Victory (built 2014), from Shoei Kisen of Japan. Angeliki Frangou eyes up VLCC options to renew Navios Acquisition fleet The company is paying $14.5m and will rename it Navios V
Boxship capacity cuts likely after Trump tweets Container lines are debating whether to cut back on transpacific capacity following an escalation in the tariff war between the US and China, according to consultancy Drewry. It said: "Just when ocean carriers thought it was safe to go back in the water all it took was a couple of tweets to throw the transpacific market back into chaos." It had seemed that the flames of the trade war between the
DNV GL's Knut Orbeck-Nilssen calls on shipping to keep safety at forefront of industry's mind Class society's maritime CEO talks about his worries for safety and disappointment over stalled reforms at IACS
PGS mulls bond issue to meet $675m refinancing target PGS could raise more bonds to meet its $675m refinancing target, TradeWinds has learned. The seismic survey shipowner said on Monday it has begun the process to raise $525m from a five-year first lien term loan and a further $150m in second-lien debt. PGS targets $675m in seismic refinancing effort TGS and PGS to conduct first 3D seismic survey in Labrador Sea PGS sells survey ship to Japan fo
Maersk Tankers strikes for four extra LR2s newbuildings at Dalian Shipyard Maersk Tankers has boosted its LR2 newbuilding orderbook in China at the same time as it is being linked with a move for an MR in the secondhand market. Maersk Tankers targets major cut in CO2 emissions under new strategy Product tanker capital of the world shows clockwork growth Maersk Tankers posts loss in tough product market Privately owned Maersk Tankers has taken four additional slots on
Carsten Mortensen to chair StormGeo Norwegian shipping weather information firm StormGeo has appointed former BW Group CEO Carsten Mortensen as non-executive chairman. The Dane will play an important role in supporting StormGeo in its next phase of growth, the company said. Mortensen, a former Maersk and Norden man, resigned from BW last year. He replaces Jonas Persson as chairman. Mortensen quits BW LPG board Carsten Mortensen
Union Maritime cashes in on panamax bulker asset play Union Maritime has secured a healthy profit from the sale of a panamax bulker it bought when the market bottomed out in 2016. The 76,000-dwt Harrow (built 2005) has changed hands for $9.1m, brokers said. This is about 40% more than the UK shipowner paid for the Sasebo Heavy Industries-built vessel from Japan's Toyo Kaiun in October 2016, when it was the Red Queen. The Harrow is due for specia
Molaris-led Alma Maritime sells capesize bulker for $12.3m Greek shipowner Stamatis Molaris has sold a 16-year-old, Japanese-built capesize bulker. US brokers identified his Alma Maritime as being behind the sale of the 176,000-dwt Iron Fritz (built 2003) for $12.3m. VesselsValue estimates that a ship with the characteristics of the Nippon Kokan Koji Corp-built capsize is worth $10.2m, while Maritime Strategies International estimates it at $13.3m. Th
Bunker One adds tanker in US Gulf Danish ship fuel group Bunker One is expanding its US Gulf and Caribbean operation with a new tanker. It said it is adding the 6,900-dwt Waltz (built 2008) in the Bahamas from 1 June. The ship, owned by Waltz Marine of Athens, will mark the group's entry into physical supply at Freeport. Georgia Kounalakis, managing director for Bunker One in the region, said: "The continued growth of our physi
Fredriksen tanker rescues yachtsman off Nova Scotia Peninsular A tanker owned by John Fredriksen's Frontline has rescued a lone yachtsman who had run into trouble off the Nova Scotia Peninsular. Frontline eyes growth with backing of Fredriksen X-factor Shipowner John Fredriksen to mark 75th birthday as 'richest Norwegian ever' Frontline's 110,000-dwt Front Leopard (built 2016) raced to help a small craft which had issued a distress call approximately 430 m
Nord/LB targets $59bn of asset reductions as it exits shipping German lender Nord/LB is targeting massive portfolio reductions over the next five years as it exits shipping. The bank said assets stood at EUR 148.2bn ($166bn) at the end of the first quarter, from EUR 154bn at year-end, while risk exposure was EUR 45.3bn, down from EUR 45.5bn. Assets will be cut to about EUR 95bn and administrative costs to EUR 625m by 2024, it added. Nord/LB exits ship fina
Wallenius Wilhelmsen downgraded by DNB Markets amid cut to 2020 forecasts DNB Markets has downgraded shares in car carrier giant Wallenius Wilhelmsen as a key contract renewal is projected to dent profit in 2020. Car carrier rates have bottomed out but are still too low to kick-start newbuildings Car carriers 'struggle' to recover from tough market Analysts led by Nicolay Dyvik dropped the bank's rating on the Oslo-listed shipowner from buy to hold, with their target
Former Rickmers CEO re-emerges at MPC Capital Former Rickmers Holding boss Ignace van Meenen has resurfaced at German asset manager MPC Capital. Van Meenen quit his job when the Bertram Rickmers-controlled company went bust in 2017. He has now been appointed chief sales officer (CSO) at MPC Capital. The 51-year-old lawyer will focus on growth strategies in the real estate and infrastructure divisions, the company said. Born in Belgium, va
Belships' changes offer breath of fresh air in Norway Veteran company is ringing the changes in the country's shipowning community
Creditors send bill to owners after Nordia Bulk collapse Apparent demise of a Greek-Danish chartering operator leaves trade creditors demanding their cash from d'Amico Dry Cargo and Alma Shipmanagement & Trading
S'hail Shipping snaps up two more bulkers Qatar's S'hail Shipping has added two more bulkers to its fleet in a QAR 75m ($20.6m) deal. The renamed 76,629-dwt S'hail Al Rayan and 74,143-dwt S'hail Al Dukhan will join in June, boosting its tally to seven ships. S'hail Shipping adds latest acquisition to Klaveness pool The idea is to increase its capacity to carry bulk cargoes, the company said. There are nine vessels of the first size in
Seaspan Ferries orders LNG-fuelled double Canada's Seaspan Ferries has contracted two new hybrid ro-paxes at Dutch shipyard group Damen. The LNG/battery powered vessels will be built at the Mangalia shipyard in Romania, it said. They will be delivered in 2021, joining two existing hybrid ships. "Within their first two years of service, our existing LNG hybrid vessels have operated with emission reductions of over 50% compared to tradit
CSSC Shipping aims for $280m in Hong Kong IPO China's CSSC (Hong Kong) Shipping plans to raise HKD 2.2bn ($280m) in a Hong Kong IPO. The shipowning arm of state-owned shipbuilder China State Shipbuilding Corp (CSSC) will issue 1.5bn shares at between HKD 1.34 and HKD 1.42 each, it said in a filing. CSSC Leasing celebrates huge newbuilding haul CSSC 'ready to back' Chinese bank's IPO with $2bn The deal will be priced on 5 June, with the st
Vallianz Holdings expects to post significant full-year loss Singapore-listed offshore vessel operator blames continued challenges in offshore sector.
Oldendorff boosts green footprint with switch to LED bulbs German owner equipping entire bulker fleet with efficient and environmentally friendly lights.
Petros Pappas adds to takeover tally as Star Bulk buys Delphin Shipping fleet Petros Pappas-led bulker player doubles supramax collection, expands fleet to 120 ships.
Extended OPEC cuts set to hold down tanker rates Sector also faces problems from shrinking demand and growing fleet, says industry analyst.
PNG political upheaval may delay LNG projects Analysts say Total and ExxonMobil keeping a close eye on events in South Pacific archipelago.
Employers to lock out ILWU Canada members starting Thursday Employers say they still seek a negotiated settlement with the longshore union.
Undeclared toxic chemicals likely caused KMTC Hong Kong fire Investigators found calcium hypochlorite in 13 containers and chlorinated paraffin wax in an additional five.
CMA CGM and MSC joining TradeLens Two more carriers join the "blockchain-enabled" shipping platform developed by Maersk and IBM.
U.S. continues block on WTO Appellate Body selections The AB has four vacancies, with two current members on the seven-position panel expected to depart in December, which would render it inoperative.
Executive Moves: Walmart and Transplace
TSA committee to help safeguard railroads, highways
Baltimore welcomes largest containership to call port
Maersk investing in Traxens
Keel-laying ceremony held for Elenger LNG tanker
Seaboard service connects Brooklyn with Central America
Refined products rally on driving demand, supply disruptions Refined products futures climbed Tuesday at the onset of the US summer driving season and supply disruptions in the Midwest due to flooding.
European ports expand LSFO storage ahead of IMO 2020 European ports have been expanding their low sulfur fuel oil storage capacity ahead of IMO 2020.
Japan's MOL readies for IMO 2020, other rules while advancing rolling plan MOL's 'basic policy' is to use low-sulfur fuel oil while it also plans to install SOx scrubbers on about 50 vessels.
Marine fuels supplier Bunker One adds barge in Caribbean
Cameron LNG set to receive tanker as facility liquefies first cargo: dispatcher The closer of the two tankers, the Marvel Crane, left Barcelona on May 5, cflow showed.
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