Lockheed Martin won't compete to build FFG(X) Lockheed Martin will not compete in the bidding to design and build the Navy's next-generation guided-missile frigate competition, reports the U.S. Naval Institute. USNI news cites Joe DePietro, Lockheed Martin vice president
USCG warns of cyber attacks on commercial vessels The U.S. Coast Guard has issued a Marine Safety Bulletin warning that commercial vessels are being targeted by email phishing and malware intrusion attacks. Cyber adversaries are attempting to gain sensitive information
SCA honors DeFazio with Maritime Leadership Award The Shipbuilders Council of America has honored Peter DeFazio (R-Ore.), Chairman of the House Transportation & Infrastructure Committee, as a 2019 recipient of its Maritime Leadership Award, recognizing him as "an exemplary
Wasaline RoPax to have WE Tech hybrid propulsion solution Vaasa, Finland, headquartered WE Tech Solutions Oy (WE Tech) is to deliver an advanced hybrid electric propulsion solution for the Wasaline RoPax ferry on order at shipbuilder Rauma Marine Construction Oy (see
Damen Yichang lays keel for LNG bunkering vessel Damen's Yichang Shipyard in China has laid the keel for a 6,000 cu.m LNG bunkering tanker. Ordered by Estonian energy company Elenger (formerly Eesti gas), the 99.8 m long vessel is set
ABB opens Murmansk Marine Service Center With Arctic maritime activity steadily increasing, ABB has opened a Marine Service Center in Murmansk, Russia,, the world's largest city above the Arctic Circle. ABB's technologies are widely used for vessels operating
Colonna's to demilitarize nuclear sub Colonna's Shipyard Inc., Norfolk, Va., has been awarded a $9,299,760 contract to provide demilitarization of the exterior hull, internal equipment, bulkheads, decking, piping, and other fixtures onboard the Los Angeles class nuclear
Tanker tonne-miles in freefall as Opec shipments plunge Opec shipments are at their lowest ebb for at least five years, according to Lloyd's List Intelligence
CMA CGM to rationalise services as cost-cutting target increased First-quarter figures show improvement, but CMA CGM wants to transform itself for the challenges ahead
Construction contracts awarded for Rio Grande LNG terminal Bechtel will construct three liquefaction trains, two 180,000 cu m storage tanks and two marine berths
Diana says preliminary results show buyback oversubscribed Simos Palios-led Diana will fund share buybacks by selling older vessels
The secret of Norway's tech hub success Technology hubs are starting to pop up across Norway, with data building up in the industry through more interconnected software
Who's afraid of digitalisation? Digital disruption will not just be about data; it will also be about people
Standard Club loses $30m on Lloyd's syndicate run-off 'The board remain concerned that current rating levels are unlikely to be sufficient to cover future claims activity, as the...
Iran behind Fujairah tanker attack, says Bolton US reveals attack on Saudi port and puts blame for tanker attack on Iran
Euroseas sees improving market for feeder vessels Greek owner posted a marginal loss for first quarter
Asian shipowners urge China and India to ratify HK Convention The association also reiterated its serious concern about the implications of intensified trade frictions and protectionist developments
Blank sailings signal transpacific weakness Falling rates and service cancellations point to peak season underperformance as trade fears grow
Navios eyes gains from new Brazilian terminal as results improve The company's South American logistics business was one of the star performers in a first quarter that saw the core...
Chelsea Logistics moves step closer to approval for Sasa Port Chelsea is seeking a minimum 25-year concession as part of the investment plan
Daily Briefing War risk premiums surge on Middle East tension | Iran oil heads to Syria | Australia LNG looks to capitalise...
Québec Port Authority signs $775m container terminal deal with Hutchison Ports, Canadian National Railway The advent of the new container terminal has boosted the hopes of local officials that the St Lawrence River will...
Nam Cheong picks up $19m long-term OSV contracts The three vessels will be used to service floating LNG facilities and other production operations in Malaysian waters until 2022...
Australia LNG battles high-cost history Chevron's Gorgon LNG and Inpex's Ichthys gas project saw cost blowouts of over $10bn and while cost-cutting efforts such as...
Russia ups the ante with a new icebreaker for the Arctic News of the icebreaker's launch will not be well received in the US, where concerns have been mounting over Moscow's...
Santos taps battery technology to slash emissions at Darwin LNG The project is moving into the front-end engineering and design phase and is projected to be completed by the middle...
Total and Shell float tenders for large LNG bunker vessels Independent enquiries from two majors signal incoming demand from cruise and liner sectors
Gentco Logistics unveils brand and newbuilding plans China's newest shipowner is celebrating its formal opening by releasing details of its fleet expansion plans
Druzhba pipeline woes claim an unexpected victim: the MR trade European gasoline market will stay buoyant amid persistent Russian supply issues and limited transatlantic cargo flows, according to analysts
More Japanese tonnage could follow MOL VLCC sale MOL has put a 12-year-old VLCC up for sale, with brokers linking the disposal to the recent consolidation moves among local oil companies. The 302,000-dwt Phoenix Vanguard (built 2007), controlled by MOL's Singapore-based Phoenix Tankers subsidiary, will be available for inspection in Fujairah in mid-June. Japanese VLCC tipped to head down demolition route Showa Shell and Idemitsu Kosan merging
Judge halves d'Amico's $1.77m costs award in Primera case d'Amico Dry Cargo is fighting to avoid a costly legal bill after its decade-long court battle with Primera Maritime. The Italian bulker owner has appealed against a Manhattan federal court decision to halve its $1.77m legal fees award, after it won a $3.2m judgment against Primera late last year. D'Amico Dry awarded $3.2m in Primera lawsuit Judge rejects D'Amico claim that Nikka stalled lawsuit
Tristar Group taps Hyundai Mipo for chemical tankers Dubai-based outfit returns to South Korean shipyard for newbuilding quartet being linked to Shell's Project Solar
Ship recycler goes bankrupt amid hurricane of issues Marine Environmental Remediation Group ends up owing more than a half-million dollars to 20 creditors, according to court documents.
Teekay Offshore seeking help to evaluate Brookfield deal Teekay Offshore Partners plans to hire outsiders to evaluate Brookfield Business Partners' plan to take it private at a discount following shareholder demands that it do just that. The Vancouver-based, New York-traded company confirmed the move to TradeWinds over the weekend. Shareholder group decries discounted Teekay Offshore offer Teekay Offshore Partners banks 16 tanker loan "Teekay Offsho
CMA CGM shrugs off $43m quarterly loss Sartini given key role of implementing turnaround plan designed to slash costs by $1.5bn
DNB Markets dials down LNG carrier forecasts around 2020 rate peak DNB Markets has taken a red pen to its LNG carrier rate forecasts despite its confidence earnings will break the $100,000 per day barrier this winter. Dynagas returns to Hyundai Heavy to beef up on LNG carriers Tor Olav Troim 'very excited' about the second half of 2019 Its analysts expect rate for LNG carriers - a market which has been disrupted by a trade war between the US and China - to pea
West of England reports underwriting loss The West of England has reported an underwriting loss for its latest policy year, but its figures have been buoyed by a strong investment performance. Bowsher puts his stamp on the West of England More clubs could follow West of England rate rise The London-based mutual said its combined ratio for the year ending 20 February 2019 was 114%, indicating that claims and expenses exceeded premium in
SeaBird presses private placement to fund swoop for Boa SBL brace SeaBird Exploration has launched a private placement to fund the purchase of two of Boa SBL's seismic survey vessels, the sale of which is being forced by bondholders. Bond trustee forces through sale of Boa OSV duo SeaBird lines up $22m deal for Boa duo Nordic Trustee said last week it was considering a stock accession option to hand control of the Boa Offshore subsidiary to bondholders and di
Celsius Shipping sells brace which took it into product tanker market Danish shipowner Celsius Shipping has sold two tankers bought in May last year when it entered the product tanker marked. Celsius moves into product tankers as Kirk seals exit Celsius Shipping strikes $53m deal for product tanker trio Chief executive Jeppe Jensen confirms the Hyundai Mipo built 37,000-dwt Celsius Penang and Celsius Perth (both built 2004) have been sold. Brokers say the duo
Diana Shipping tender offer oversubscribed Simeon Palios-led bulker owner plans to prorate buyback so each tendering investor can sell back at least some shares.
Odfjell plans to grow terminal in key tanker hub of Houston The US is the Oslo-listed chemical tanker and terminal owner's 'most important hub' for exports and imports, the company says
Toisa AHTS pair heading to Australia A pair of anchor-handlers (AHTS) are heading to Australia after being sold from the fleet of bankrupt Greek group Toisa. Toisa OSV quartet auctioned at lower prices The 12,240-bhp Toisa Dauntless and Toisa Daring (built 2007) have gone to Australian Offshore Services for $1.25m each, according to broker Clarksons. They were originally part of a six-ship sale to China Sunrise earlier this year,
Wood chips to fuel Rio Grande's future Repurposed $1bn Ecovix shipyard to churn out two million tonnes of shavings per year
Powerful Sleipnir is a sign of the rise of wind Amid a move towards a new age of renewable energy, this behemoth will be well positioned to play both sides of the fossil-fuels divide
Tug arrested in error over Boskalis hijacking A tug and its 10-man crew have been released in Equatorial Guinea after suffering a mistaken arrest for the hijacking of a Boskalis heavy-lifter. The 300-gt Charis (buit 2006), operated by C&I Leasing of Lagos, Nigeria, was suspected of involvement in the violent seizing of the 76,000-dwt Blue Marlin (built 2011) earlier this month, The Nation reported. Watch Spanish troops liberate Boskalis shi
Lemos company Enesel closing in on blockbuster VLCC time charter deal Shipowners Filippos and Andonis Lemos are believed to be closing in on a long-term charter for a VLCC at the highest rate seen for around four years. Enesel doubles suezmax tanker order at Daehan Arne Fredly's Hunter Group poised to pocket highest VLCC resale price in half a decade The potential deal offers the latest positive data point for the crude tanker market, which has seen asset prices
Rasmussen Group set to profit from Shearwater seismic ships Norway's diversified Rasmussen Group appears to have hit the jackpot on its investment in seismic company Shearwater GeoServices. At the end of 2018, Rasmussen's 63.9% stake in Shearwater had a book value of nearly NOK 3.36bn ($380m). But, since then, the seismic market has strengthened and many of the company's 10 ships have gone on fresh contracts. Bullish Borr Drilling sets four newbuilding
Norwegian golfers fall way below par in London A golf team representing Norwegian shipowners, including some familiar names such as Westye Hoegh and Bryn Skaugen, hoped to wrest back the Anglo-Norwegian Cup from their British counterparts - to kick off the celebrations ahead of this year's Nor-Shipping event. But under the weight of expectation, after two days battling it out on the fairways of Walton Heath Golf Club near London, they suffere
Stig Remoy's Olympic Subsea wins CSV period contract A construction support vessel (CSV) owned by Stig Remoy's Olympic Subsea has been fixed on a year-long contract and two more have won short-term employment. Olympic Subsea fixes six-month deal with Siemens Olympic Subsea wins more time before it has to list The 4,823-dwt Olympic Triton (built 2007) has been fixed to an unnamed international oil company for 12 months for work in West Africa, co
Angeliki Frangou outlines cash-flow potential Greek owner Navios Maritime Holdings's CEO Angeliki Frangou has revealed the strong cash flow potential for its bulker fleet. She said on the company's conference call that for the remaining nine months of 2019, the ships have 14,359 available days, of which 8,201 days or about 57% have market exposure. "At the current combined rate of $12,945 per day, our fleet will generate $17.5m of free cash
Oslo Stock Exchange takeover battle delivers a happy ending for shipping Euronext's ability to out-muscle the Nasdaq in a race to own the Oslo Stock Exchange appears to be good news for the shipping sector. Arne Fredly's Hunter Group poised to pocket highest VLCC resale price in half a decade BW plans Oslo listing for BW Energy Belships targets $15m purse from private placement in Oslo Nasdaq had been waging a takeover war with Euronext for almost six months in
Pantheon Tankers inks debut deal in China with SWS Greek tanker owner snubs its once favoured Japanese and South Korean yards to order newbuilding series worth up to $180m in Shanghai
Lawyer details difficulties of getting Brightoil Petroleum VLCC onto the auction block Bill Amos describes arrest saga as one of his most challenging cases and says the outcome has reinforced Hong Kong's role as an admiralty court sale jurisdiction
Fredriksen and Larsen VLCC venture ADS Crude Carriers pays first dividend VLCC owner ADS Crude Carriers, backed by John Fredriksen and Bjorn Tore Larsen, has paid its first dividend after reporting a profitable first quarter. Market waits on first dividend from ADS Crude Carriers Arctic Securities charts ADS Crude dividend potential ADS Crude Carriers set for Oslo debut ADS went public in Oslo last year after using funds from a private placement to buy three veteran
Zodiac Maritime steps into capesize S&P market for first time in 2019 Eyal Ofer's Zodiac Maritime has targeted a trough in bulker values to make its first investment in second-hand dry cargo tonnage in more than six months. Fred Cheng breaks 2019 capesize sales drought with flurry of activity Eyal Ofer's Zodiac Maritime builds VLCC position with K Line deal Zodiac builds strong position in LR2 sector with GEM deal It has bought the 233,000-dwt Pacific Glory (b
Ostensjo veteran Johan Rokstad retires after 40 years Veteran executive Johan Rokstad has retired after 40 years with Norwegian OSV group Ostensjo Rederi. Last Friday was the final day for Rokstad, who was most recently CEO of subsidiary Edda Accommodation. Johannes Ostensjo targets growth with NMS takeover Ostensjo reveals Viking Sky rescue drama Ostensjo CEO Kenneth Walland will take over the role. Rokstad started his career in Ostensjo Rederi
Borr Drilling seals $645m of new finance Tor Olav Troim-backed Borr Drilling has agreed a deal to sale three standard jack-up rigs as it secured new financing worth $645m. The Oslo-listed company said it will bank $9m from offloading the Baug, Eir and C20051 for non-drilling activities. Troim lines up $660m of Borr financing They will be retired from the international jack-up rig fleet. It has received $6m from selling two of the tri
Belships private placement falls short of target Belships' private placement of new shares has raised just a fraction of its target, but the company has launched a subsequent offering regardless. Belships targets $15m purse from private placement in Oslo The Oslo-listed bulker owner had set a target of $15m but ended up raising around $8.3m (NOK 72.6m), according to a filing on Wednesday. The company plans to use proceeds from the placement
Court ruling gives Croatian owner Uljanik Plovidba access to accounts The bank accounts of Croatian owner Uljanik Plovidba have been unfrozen following a court ruling. The tanker and bulker company's director Igor Budisavljevic said that enforcement proceedings were adjourned against the company over debts owed to Uljanik Group shipyard 3 Maj. The legal review was undertaken by the ministry of finance at the administrative appellate court division. Two director
Torm turns to former Danske Bank man as new chief financial officer Danish shipowner Torm has recruited former Danske Bank executive Kim Balle as its new chief financial officer. Torm says tanker market is set for 'multi-year' upward cycle Balle will replace Christian Sogaard-Christensen at the product tanker giant, which is marking its 150th anniversary this year. Sogaard-Christensen was chief financial officer of Torm for a little over three years, a period w
Standard Club results hit by Lloyd's losses The Standard Club's balance sheet was hit by $30m in costs linked to its withdrawal from the Lloyd's of London insurance market, according to its latest earnings statement for the year ending 20 February 2019. Losses rise at Lloyd's for Standard and Skuld clubs New Singapore war risk contract wins support of region's major shipowners Standard Club Asia forges fresh alliance with Ping An The St
NOCC boss upbeat on car carrier prospects Looking beyond the current bearish market conditions, Norwegian Car Carriers (NOCC) chief executive Olav Sollie says the next couple of years look bright for the sector where his company operates. While freight and time-charter rates are "too low to be sustainable", the orderbook is emptying quickly and demand continues to grow, he says. This means the "forces of gravity shall be expected to wor
Norway punches above its weight in competitive car carrier market Full chain of operators, tonnage providers and banks means the country is set to remain a powerful player
Hoegh LNG posts strong first quarter despite profit drop Oslo-listed Hoegh LNG Holdings has seen profit plunge in the first quarter as financial expenses rose, but its numbers still measured up well with market expectations. It said net earnings were $4.5m, from $13.21m a year earlier, but beating the $1.1m consensus. Revenue grew to $84.29m from $72.29m, but finance costs hit $23.52m against $11.51m in 2018 due to higher depreciation and interest e
Klaveness Combination Carriers ship attracts 200% rate premium Newly Oslo-listed Klaveness Combination Carriers (KCC) has enjoyed a big rate boost from the first fixture of its new Cleanbu ship for both oil products and dry bulk. The vessel started its first clean/dry combination voyage at the end of May, with earnings reflecting a 150-200% premium relative to standard markets, it said. The trip to South America targeted a return cargo of grains to the Far
Contract extensions boost utilization at MMA Offshore Australian offshore vessel operator reports tightening market for high spec vessels.
Stena buys NMT and launches Glovis joint venture Sweden's Stena AB has sealed new expansion in the ro-ro and car carrier sectors. The tanker and ferry group said that it has launched a cooperation in Europe with South Korea's vehicle shipping player Hyundai Glovis. It has established a 50/50-owned joint venture to "develop new products and services for the European market." The outfit, Stena Glovis, is based in Hamburg. Stena has also bought
LNG freight rate recovery heading to $100,000 per day Spot rates have rallied 70% since the start of the second quarter, with the promise of more to come.
Nam Cheong secures long-term chartering deals worth $31m Malaysian offshore vessel operator says contracts reinforce strategy to grow chartering arm.
Aussie fund builds stake in Italian LNG FSRU OLT also announces appointment of co-managing director as vessel discharges 50 th LNG carrier
Employers to lock out ILWU Canada members Thursday Union president calls the move "a reckless, irresponsible and needless decision that will undermine the economy."
'We can't continue to sift through the burnt wreckage' Andrew Kinsey, senior risk consultant at the insurer Allianz Global Corporate & Specialty, says carriers need to be proactive in preventing ship fires.
CBP takes steps to reinvigorate export oversight With COAC's help, U.S. Customs and Border Protection seeks to devise an online strategy to better target illicit exports before they can leave the country.
Border delays, capacity crunch impact Mexico trade Mexico is benefiting from the CPTPP accord and booming beverage business, but its auto industry is slowing down and it's dealing with trucking delays at the U.S. border.
CMA CGM outlines adaptations for changing market French carrier raises cost-saving targets and reports a smaller net loss in the first quarter of 2019.
Chinese informal retaliation against U.S. goods possible 'Qualitative' retaliation could take the form of increased inspections, difficulty in getting licenses, and delays and investigations for environmental compliance.
TradeLens could 'improve trust in data' Analyst at Drewry believes the decision by CMA CGM and MSC to join the IBM-Maersk digital shipping platform is a significant event.
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TSA committee to help safeguard railroads, highways
Russian HSFO heads to US to fill Venezuela gap Russian heavy fuel oil with high viscosity that has failed to find a home in a soggy European market.
Singapore's MPA revokes Southernpec's bunker supplier license Its employees engaged in bunker malpractices, which include the use of magnets to interfere with MFMs during bunkering, MPA said.
Star Bulk secures scrubbers for newly acquired vessels as part of 2020 plan "We expect to have a fully scrubber-fitted fleet by January 2020," Star Bulk said
IMO to further consider bunker licensing scheme as 2020 sulfur limit rule looms: IBIA The co-sponsors of MEPC 74/5/4 opined that safety risks associated with poor quality bunkers could be mitigated if member states implemented the licensing schemes.
S&P Global Ratings removes Maersk from negative credit watch "Overall demand-and-supply conditions are shifting in favour of ocean carriers after a difficult 2018," S&P Global Ratings said.
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