Government of Canada awards contract for four large naval tugs Canada's Ocean Industries, Inc. has been awarded a C$102 million (about US$76 million) contract by Public Services and Procurement Canada, to build four tugs that will replace the Royal Canadian Navy's five
WISTA USA holds AGM and conference Women's International Shipping & Trading Association (WISTA) USA held its Annual General Meeting and Conference April 26, 2019 in Philadelphia, Pa. Boriana Farrar, Vice President Counsel Business Development Director at Shipowners Claims
Sovcomflot to roll out Fleet Ops solution Sovcomflot, Russia's largest shipping company, is to roll out a Wärtsilä Fleet Operations solution for its fleet of Arctic shuttle tankers. The aim is to promote sustainable development, and to increase the
MMTA helps fund maritime training at three tech high schools The Massachusetts Marine Trades Association (MMTA) reports that three technical high schools - Cape Cod Regional Technical High School, Upper Cape Cod Regional Technical School, and Greater New Bedford Regional Vocational Technical
Wellboat will have PG Flow pump systems PG Flow Solutions AS has booked a contract to deliver pump systems for a fish farm wellboat that Norwegian shipbuilder Aas Mekaniske Verksted is building for Brønnbåt Nord AS. The wellboat is
Knud E. Hansen books design contract for Finnlines trio Danish naval architectural consultancy Knud E. Hansen has signed a contract with Nanjing Jinling Shipyard, China, for developing the basic design of three large RO/RO vessels, based on the Finnlines / Grimaldi
Zenon Mouskas dies in Cyprus, aged 77 A long career in the industry included serving as a director of the Baltic Exchange from 1988 to 1993 as...
Scorpio Bulkers says grains will provide strength The company's investment in Scorpio Tankers might have been its best yet, says president Robert Bugbee
Chinese yard set to deliver dual-fuel VLCC by 2021 DSIC chairman Liu Zheng says the company is revving up its efforts to help shipowners build greener ships
Africa free trade deal could spur port development 'Shipping people are not convinced there are going to be hundreds of little coasters running up and down on the...
China-Iran crude imports slump as cargo-tracking opacity rises On the face of the available data, oil exports from Iran to China appear to be significantly declining as the...
Shift in grains trade beneficial for bulkers The price difference currently is about $30 per tonne and is unlikely to disappear in the short term, says BullPositions'...
Flex LNG secures new $550m pipeline A sale and charter back of two ships and a bank facility for two more keeps the cash flowing
Attritional losses now posing bigger burden, says IUMI IUMI says 21 total losses were recorded last year, continuing a general downward trend witnessed since 2010. The reduction was...
Cosco Shipping Holdings posts a jump in profits Cosco Shipping Lines, CSH's home-grown liner shipping unit, saw liftings up 3.7% to 4.3m teu in the three months, while...
Ports must be part of global digital network The should be more co-creating and co-operating for mutual benefit while moving away from the traditional paradigm of proprietary information...
Maersk launches online customs clearance service Digital customs brokerage designed to reduce paperwork, intermediaries and time though one-stop shop for clearances
Sulphur cap will spur boxship demolition Drewry has said there is 1.15m teu of 'low-hanging fruit' that could potentially be scrapped this year
Daily Briefing Iran-China crude flow is moving via ship-to-ship transfer network | Will Stellar Daisy lessons be learned too late? | From...
Alliance Mineral Assets in deal to produce lithium in China A binding JV agreement will be signed by the two parties in late June
Southernpec licence suspended by MPA The suspension arose from 'an enforcement check' on a bunkers tanker operated by Southernpec/p>
US inland waterways benefit from Panama Canal The Paducah-McCracken County Riverport Authority recently announced that it is preparing to launch the first container-on-barge service on the Ohio...
Aramco sells first LNG cargo Aramco hired a former Pavilion Energy executive to start up the gas trading desk in Singapore
Australia closer to first LNG imports The Port Kembla liquefied natural gas project consortium, Australian Industrial Energy, has agreed to charter in a 170,000 cu m...
COFCO's Alessio La Rosa opens up on factors driving 'eco' charter strategy The global head of freight at Chinese-owned, Geneva-based trading house warns of soft dry market ahead and says shipyards need to get real about pricing
Six bulkers set to join Seacon Ships Management's operated fleet Chinese outfit is growing its fleet but downplaying a name change
Scorpio Bulkers to hold onto sister stake Scorpio Tankers investment questioned as 'really weird' by Deutsche Bank's Amit Mehrotra.
Exmar confirms Jiangnan Shipyard VLGC deal Exmar confirmed that it has found a new builder for two VLGCs after an initial deal for the newbuildings fell through earlier this year. Exmar set to finalise VLGC newbuilding order at China's Jiangnan Shipyard The Belgian shipowner said Monday that Shanghai-based Jiangnan Shipyard will build the Belgian shipowner two LPG-fueled 86,000-cbm gas carriers. TradeWinds reported last week that the Chi
Braemar ACM cool on possible Trump bump for tankers after latest Iranian crackdown Donald Trump's latest sanctions swipe at Iran is unlikely to send tanker rates spiking in the same manner as his previous action last year, a leading shipbroker says. The US president last week shocked the market with a decision to end all waivers on Iranian sanctions when they expire on 2 May 2019. US takes world by surprise with waiver decision Trump: No more Iranian crude waivers As TradeWi
Unibros Shipping swoops on MR tankers amid Greek optimism for product market Ship type gains popularity among Greek players with sistership duo joining the low-profile owner
Valhalla Management Services sells second supramax bulker Valhalla Management Services is set to offload a second supramax bulker. Shipbrokers said the US-based company's 51,000-dwt V Green Heron (built 2002) has been sold for $6.2m. The sale of the STX Offshore & Shipbuilding-constructed vessel, which is due for special survey in December, comes nearly five years after Valhalla was set up as a sister company to New York-based bulker player TBS. It w
Cosco tanker arm under performs other businesses China Cosco Shipping's tanker subsidiary slumped into a loss for the first quarter, underperforming other group units of the Chinese state conglomerate. Shanghai and Hong Kong-listed Cosco Shipping Energy Transportation (CSET) has reported a net loss of CNY 84.9m ($12.6m) compared with a net profit of CNY 563m during the first quarter of 2018. Revenues fell to CNY 2.4bn from the year-ago level o
Scorpio Bulkers stock shoots up after first quarter report US-listed bulker owner beats first-quarter estimates while seeing lower revenue.
Eastern Bulk Carriers sets growth sights high after returning to Australia Tidemand family company Eastern Bulk Carriers has returned to Australia after over half a decade amid a growth effort which could see its fleet double in the coming years. Kristin Tidemand says family is fully committed to Stove Belships at centre of S&P talk as it gears up with bulker buys Bard Osland, a former Thoresen and Island View Shipping man who joined Eastern Bulk in 2016, is relocat
Maersk claims digital customs clearance first Danish boxship giant Maersk Line says it has become the first liner operator to offer digital ocean customs clearance. Easy boxes? Maersk claims instant booking first Its online platform has launched in Germany, France, Denmark, the Netherlands, Poland, the UK and Spain. And the aim is to roll it out worldwide by the end of this year. "This new one-stop shop allows us to timely and efficiently
New RCCL cruiseship pays $964,000 to transit Suez A new Royal Caribbean cruiseship has paid fees of $964,000 to transit the Suez Canal. The Suez Canal Authority said the 169,000-gt Spectrum of the Seas (built 2019) passed through the waterway from north to south during its maiden voyage on Friday. It is carrying around 3,700 passengers and 1,700 crew. The ship left Germany on 10 April and is destined for Shanghai, China. Revenues from the can
Pangaea Logistics Solution puts on record-setting power plant implosion party Pangaea Logistics Solutions is not the type of outfit to stand overly tall or make especially loud noises as it pursues its trademark niche-trading opportunities. The New York-listed company operates quietly and below the radar from a base that is also off the beaten path in the traditional sailing mecca of Newport. Yet here it was on a Saturday morning in April hosting more than 100 gue
Eagle Bulk Shipping set to sell supramax in latest fleet renewal move Eagle Bulk Shipping is plotting the next phase in its fleet renewal programme with the sale of its final Diamond 53 supramax. CEO: Eagle Bulk spared 'contagion' of capesize woes Eagle finds scrubbers a good fit for smaller ships New York-listed Eagle Bulk is in the process of selling the 53,360-dwt Thrasher (built 2010), according to dry cargo market sources. Some brokers are reporting a $10m
More boxships to be scrapped as IMO 2020 approaches IMO 2020 rules will prompt owners to speed up boxship scrapping - but it hasn't happened yet. Shipping consultancy Drewry said progress on recycling has been "slow thus far". It said the lack of visibility regarding extra fuel costs associated with IMO 2020 is making it more difficult for lines to plan much further ahead. "One such area of uncertainty is with demolitions," it added. Louis-Drey
Ernst Russ eyes more ships as profit rises German shipping asset manager Ernst Russ Group is targeting more ship acquisitions after profits rose in 2018. NRP buys Hammonia from Peter Dohle and Ernst Russ It said that last year, the focus was on expanding the fleet through direct vessel investments and substantial equity holdings. Its ElbFeeder joint venture established in 2017 was increased to seven vessels. Another ship was acquired a
AVIC International begins shipbuilding exit with yard sale to China Merchants AVIC International manages to divest insolvent Weihai yard for $92m as Beijing pushes for consolidation among state-owned companies
New BP LNG carriers shave $2m off fuel costs UK major BP has hailed the fuel-saving design of its new LNG carrier fleet as it took delivery of the last in the series of six at DSME in Korea. BP emerges in the market for time-chartered LNG tonnage The company now operates the 173,644-cbm British Partner, British Achiever, British Contributor (all built 2018), British Listener and British Mentor (both built 2019). Sistership British Sponsor
Polarcus appoints ex-Citigroup banker Monish Sahni to board Offshore survey company Polarcus has appointed a new director to its board and approved a new employee incentive plan at its annual general meeting (AGM) in Dubai on Monday. Monish Sahni will serve as a director of the Oslo-listed company until Polarcus' 2020 AGM. Duncan Eley dips into his pocket to raise stake in Polarcus Investment? Shipowners told they need to earn it Trafigura seals new fi
John Fredriksen's Flex LNG strikes $420m sale-and-leaseback deal for two ships John Fredriksen's Flex LNG has inked a sale-and-leaseback deal with Hyundai Glovis for a pair of modern vessels as part of a $550m financing package. Flex LNG, which is eyeing a US listing, valued the 10-year transaction to refinance bank debt on the two ships at $420m. John Fredriksen's Flex LNG set to sail onto New York Stock Exchange Spotify-style Fredriksen's Flex inks time charter with s
Tribunal orders liquidation of ABG Shipyard India's National Company Law Tribunal (NCLT) has ordered the liquidation of heavily indebted shipbuilder ABG Shipyard. A last-minute plea by bidder Liberty House failed, the Economic Times reported. The steel group claimed its offer for the yard exceeded its liquidation value. ABG Shipyard creditors vote for liquidation Lenders had previously rejected two bids from Liberty House. Last year, S
David Frischkorn says firms with shares under $5 need self-help Veteran banker has a keen eye on shipping equities and wonders why reverse splits are not used more often
Search and rescue drones take flight in UK Drones have not had the best publicity in the UK of late, with sightings of rogue machines grounding flights at airports. But the UK's Maritime and Coastguard Agency (MCA) is hoping to showcase its more useful side with a new search-and-rescue trial. Drones set to be maritime game changers, but hurdles remain Drones will be tested as extra "eyes in the sky" off the coast of Essex over the next
Deutsche Bank calls off Commerzbank merger Deutsche Bank has called a halt to a merger with Commerzbank. Talks began last month between the two German shipping lenders over a combination. But, after careful analysis, Deutsche Bank said it had discontinued discussions. Deutsche Bank, Commerzbank start merger talks "A combination with Commerzbank would not have created sufficient benefits to offset the additional execution risks, restruc
Qatar LNG mega-order offers silver lining for Samsung Heavy Industries after loss Samsung Heavy Industries has booked a loss for the first quarter of 2019 but the largest LNG carrier newbuilding order in history unfolding for Qatar Petroleum offers hope for the full-year. Qatar Petroleum launches tender for LNG carrier mega-order Form and identity of new South Korean shipbuilding giant taking shape Huge Qatar LNG carrier shipyard tender imminent Seoul-listed Samsung saw its
APL master guilty in military cargo case APL and one of its masters have been found guilty in Hong Kong of importing Singaporean military vehicles without a licence. The offence took place three years ago, the South China Morning Post reported. APL slaps fuel surcharge on boxes Captain Pan Xuejun was given a three-month suspended jail term by the district court. The court also imposed a fine of HKD 90,000 ($11,474) on APL and HKD 9
Cargill's Gert Jan van den Akker leaves Golden Ocean board ahead of retirement Cargill executive Gert Jan van den Akker has resigned from the board of Golden Ocean. He has been a director of the John Fredriksen-backed bulker owner since April 2015. Golden Ocean stock springs back with Vale iron ore volumes set for boost No successor has yet been announced. Earlier this month, the Financial Times reported that van den Akker plans to retire from his day job at Cargill in
Worker dies in bulker crane fire A 28-year-old port worker has died after jumping from a burning crane in India. Dravin Rai leapt from the cabin to save himself at Haldia on Saturday, the Hindustan Times reported. A net held by colleagues 50 feet below could not prevent terminal injuries. The crane had been unloading coal from a bulker at the port. An investigation has begun.
International Seaways reveals 2019 charter performance as first quarter profit awaits International Seaways has opened the book on its first and second quarter charter performance ahead of what is expected to be a profitable start to 2019 for the New York-listed tanker owner. BlueMountain continues International Seaways sell off International Seaways' eyes open to tanker and LNG growth says Lois Zabrocky The shipowner, spun-off from Overseas Shipholding Group, saw its modern VLC
Clarksons: potential still there for 'big beast' boxship orders There is still potential for container lines to order more "big beasts" of shipping, according to Clarksons Research. Writing on its website, analyst Trevor Crowe said mega-ships of more than 20,000 teu are "unequally spread" across carriers. Prospect of mega-boxship order rush recedes This means "order potential at the top end still exists, but it may for now be limited to a few projects per a
Incoming IACS chairman Arun Sharma hopes to lengthen tenure for his successors Indian Register of Shipping chair says one year in the role is too little time for great accomplishments
IRISL denies seizure of boxship in Libya Iran's IRISL has denied reports that a boxship has been held in Libya due to US sanctions. No ship has been seized, Iran Front Page cited IRISL managing director Mohammad Saeidi as saying. US takes world by surprise with waiver decision "There are disagreements with the Libyan government over a ship, but it has not been seized, and we are in talks to settle the differences," he added. The Liby
Ship sales not enough to boost Iino profit Japanese owner Iino has seen annual earnings drop despite selling off vessels. In the year to 31 March, it made JPY 4.26bn ($38.1m) on a net basis, from JPY 4.79bn the year before. Revenue was down to JPY 81.33bn against JPY 84.84bn, while operating costs fell to JPY 68.81bn versus JPY 73.16bn. It has 57 vessels operational, with five more on order. Iino paying special dividend bonus for 120th
Reliance behind $963m Samsung FPSO deal India's Reliance Industries has emerged as the company behind a big new FPSO contract at Samsung Heavy Industries. Seoul-listed Samsung said last week it would deliver the unit from its Geoje facility to an Asian client during the first quarter of 2022. Clarksons identified Reliance as behind the deal. The KRW 1.1 trillion ($963m) contract adds to the seven LNG carriers banked by the shipbuilde
Milaha sees profit rise despite mixed markets Qatar-listed owner hurt by weaker dry market, but lifted by better utilization at offshore.
Tug and barge owners warned over Singapore piracy spike Four incidents in westbound lane of the traffic separation scheme since February, says ReCAAP.
China's ICBC Leasing lifts lid on Bunge newbuilding charter terms Leasing giant is getting more upside than reported, but is mum on profit sharing
Tan Binh pounces on JX Ocean bulker Aggressively expanding Vietnamese bulker player's appetite for handysize tonnage remains strong.
Ocean Network Express aims to return to profit in 2019 Japanese container line joint venture upbeat on future prospects, at it puts poor start behind it.
Japanese top trio face slow road to recovery MOL, NYK and K Line's improved finances inextricably tied to events at ONE, says analyst.
Diversified soybean markets could raise containerization U.S. soybean exports have fallen in the past year in part because of the drop in exports to China due to tariffs and swine fever. The drop has resulted in a more diversified export marketplace.
Boston: The New England shippers' port The Port of Boston invests in marine terminal infrastructure to handle regional cargo going on and coming off increasingly larger containerships.
Business, labor united in support of infrastructure investment Speaker Pelosi and Senate Minority Leader Schumer wrote a letter to President Trump on Monday to outline priorities for Tuesday's meeting about infrastructure.
Japanese shipping companies expect better year ahead Results of NYK, MOL and "K" Line suffer from loss by their joint venture, Ocean Network Express.
Containership demolitions forecast to rise But because so many containerships are relatively new, the pool of candidates for scrapping is limited.
Grassley op-ed: USMCA dead if tariffs don't go "There is no appetite in Congress to debate USMCA with these tariffs in place," the Senate Finance Committee chairman wrote in The Wall Street Journal.
OOCL acquisition boosts COSCO
Executive Moves: Avianca and NOPB
Executive Moves: Transplace, TIACA, WISTA USA
Mississippi woman charged with CDL fraud
Hamburg Süd christens Polar Mexico in Veracruz
Budapest, Xi'an Xianyang airports agree to cooperate
US senators urge White House to stay out of IMO 2020 implementation Republican US senators urged the White House to let tougher international marine fuel sulfur standards take effect without interference
Pompeo touts oil price drop, says US working to find supplies for Iran's customers US Secretary of State Mike Pompeo touted Friday's drop in Brent crude oil futures.
Es Sider premium to Med dated widens as clashes unscore infrastructure risk Libyan crude differentials climbed Monday.
Hamburg bunker fuel tight on Russian crude quality issues: sources Bunker fuel availability in the German port of Hamburg was tight on quality issues.
Japan's MOL 2018 revenue falls on product transport segment, bunker bill MOL is assuming a bunker price of $435/mt for fiscal year 2019 ended March 31, 2020.
Asian middle distillates pause for price direction; awaits China export quotas The gasoil market might be on track for a sustained recovery as recent developments including a pick-up in demand in China and SE Asia and scheduled turnaround season tightened supply.
FUTURES: Crude lower on Trump comments, awaits fresh cues "The underlying bullish fundamentals have not really changed."
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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