VIDEO: River cruise captain arrested after deadly Danube collision The captain of a 135 m Viking River Cruises vessel that collided with a tourist boat on which seven South Korean tourists died has been arrested by Hungarian police as the search
ABB launches OnBoard Microgrid ABB has released a compact size DC-based power distribution system to offer hybrid power efficiencies to smaller vessels The newly launched Onboard Microgrid is based on the principles of ABB's award-winning power
Med Marine delivers first RAstar 3000-W class tug Turkey's Med Marine Shipyards recently delivered Vittoriosa, the first RAstar 3000-W Class LNG terminal escort tug to Tug Malta, a wholly owned subsidiary of the Rimorchiatori Riuniti Group, Genoa, Italy. The Vittoriosa
Jury acquits master of all charges in illegal discharge case After spending more than 19 months detained in Lake Charles, La., the Russian master of a ship involved in an illegal discharge case is free and able to return to Russia following
New satellites will add to Fleet Xpress capabilities With growing demand for maritime broadband capacity, Inmarsat is to beef up the capacity, capabilities and operational agility of the Global Xpress network that delivers its Fleet Xpress service. It has signed
ICS updates MLC Guidelines The International Chamber of Shipping (ICS) has launched the third edition of its Guidelines on the Application of the ILO Maritime Labor Convention. Covering all amendments made to the Maritime Labor Convention
Jan De Nul orders giant jack-up Offshore wind turbines are getting larger, with units under development with heights of more than 270 m and blades 120 m long. These increases in size and installation height create problems for
Fredriksen's Seatankers orders newbuilds The orders, via Cyprus-based Seatankers Management, would be the first since news emerged that the group placed an order for...
Vietnam exports boom as China shipments to US slump Logistics and trade observers believe Vietnam is benefiting from businesses shifting their supply chains in response to increased US tariffs...
China might expand scrubber restriction zone Local maritime authorities are conducting research to further assess the environmental impact of the devices, with a focus on the...
Southernpec loses Singapore bunker supplier licence Southernpec was Singapore's 30th largest bunker supplier in 2018 in terms of volume, according to the MPA
West of England combined ratio comes in at 114% 'The club remains cautious in its expectations of claims developments and has increased its reserving strength on the balance sheet,'...
Viewpoint: The master's mistake The age of digitisation and instant communication is only likely to increase the pressure on ships' captains
Hydrogen or ammonia? Safety is the key factor with hydrogen and ammonia. Both have toxic characteristics, with hydrogen being very explosive
Hydrogen 101 Hydrogen is forecast to increasingly play a key role in the move to decarbonise society, representing 18% of the final...
Why Norway is backing hydrogen as the key to decarbonising shipping by 2050 Norway's vast sovereign wealth fund is underwriting a generational research and development project that could ultimately see hydrogen-fuelled ships replace...
CSSC Shipping IPO overvalued, analyst says Lack of sufficient disclosures about the residual value risk was another bugbear as the company has substantial numbers of operating...
Shipping enters the ion age with battery technology Norwegian shipowners and technology manufacturers are recognising that battery technology can reduce emissions and cut overall vessel operation costs
Daily Briefing CMA CGM's cost-cutting intensifies | Opec oil shipments fall 21% | Blank sailings signal transpacific weakness | Australia LNG battles high-cost...
The Lloyd's List Podcast: Sailing on solar Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Saudi Global Ports' 21,000 teu vessel call highlights rising Middle East trade Other ports in the region such as Jebel Ali and Jeddah have previously taken 18,000 teu calls
Canadian federal mediator enters negotiations to avoid strike action in the Port of Vancouver 'We hope a disruption can be avoided and that the two parties can reach a resolution quickly,' said Danielle Jang...
Santos looks to capitalise on LNG bunkering demand The company has also received interest from Chinese buyers, both private companies and national oil companies, for offtake from the...
Swiber creditors approve restructuring plan Creditors' mandate is positive news for Swiber and gives the company an opportunity to be rehabilitated with the proposed investment...
ArcelorMittal's Europe steel output cuts expected to hit dry bulk market The cuts in Europe follow troubles at British Steel's plant in the UK, pointing to lower demand for raw materials...
Teekay Offshore hires duo to evaluate Brookfield deal As promised, Teekay Offshore has hired two outside advisors to evaluate Brookfield Business Partner's discounted take-private offer. The New York-traded, Vancouver-based company announced after the close Monday that Evercore Group had been retained to evaluate the financials and Potter Anderson & Corroon as legal counsel. Brookfield moves to take Teekay Offshore private Teekay offloads remainin
Former Seaspan CFO joins Teekay Tankers board Teekay Tankers is set to welcome a new board member to replace one joining the company's general partner. Former Seaspan finance chief Sai Chu will join the board of the New York-traded tanker owner, replacing Richard Patterson who joins the board of Teekay GP. Teekay Corp, Teekay Tankers reshuffle boards "Sai brings a wealth of financial and shipping expertise to Teekay Tankers," board chairma
Diana Shipping fixes panamax at higher rate Diana Shipping has fixed one of its panamax bulk carriers to Uniper Global Commodities at a rate higher than its current earnings. Diana Shipping tender offer oversubscribed The 81,297-dwt Leto (built 2010) was fixed to the trader for 11 to 13 months at a gross daily rate of $13,000, minus 5% commission for third parties. The Leto is concluding a 16-month charter to Glencore Agriculture, durin
Nordic Shipholding finds new buyer for veteran handysize Nordic Shipholding has found a new buyer for its oldest handysize tanker. The Danish company is set to move the 35,800-dwt Nordic Ruth (built 2000) for $5.8m to an unnamed buyer after a deal to sell the ship fell through in early April. Nordic Shipholding sees veteran tanker sale fall through The sale leaves Nordic Shipholding with five ships, four handysize tankers and an LR1. None of its rem
ABS calls for radical market change to meet IMO goals Class society calls for better scheduling of sailings and reduced ballast voyages to reduce carbon emissions
Morgan Stanley faces hit from analyst cut but stays a player Executives say lack of shipping research in wake of Fotis Giannakoulis' departure is 'not great', but huge ability to place shares in equity deals keeps bank in frame
North P&I Club's investment profit covers underwriting loss One of the largest P&I mutuals hints it is calling time on 'unsustainable' premiums
Houston, we have a problem with the future of shipping equities Five investment banks have dropped coverage of shipping equities in recent months amid poor share price performance in a worrying sign for the future of public fundraising in the US
Nordic American Tankers inks suezmax period deal with Equinor Nordic American Tankers has cut a deal to lease out one of its ships to Equinor at a time the tanker market is expected to take a turn for the better. The Herbjorn Hansson-led suezmax tanker owner has fixed the 158,597-dwt Nordic Zenith (built 2011) to the Norwegian oil company for the next 12 to 15 months. After positive Q1, Nordic American Tankers shares soar Financial details of the charter
London P&I Club counter-sues Spain for €1.4bn in damages following Prestige lawsuits Spain must pay to be paid, the London P&I Club has claimed, following a billion-Euro judgment against the insurer in the country last year.
Chinese vice president Wang Qishan drops in at Hamburg terminal Chinese vice president Wang Qishan has paid a visit to the port of Hamburg, an important hub for the country's containerships. HHLA Container Terminal Tollerort (CTT) welcomed the VIP as part of a one-day tour. Wang was greeted by the chairwoman of Hamburger Hafen und Logistik (HHLA), Angela Titzrath, and Hamburg's First Mayor, Peter Tschentscher, as well as representatives of China's Cosco. He
AP Moller-Maersk arm buys into first Portuguese startup An AP Moller-Maersk company seeking to build billion-dollar businesses has bought into Portuguese startup Huub in what was one of the biggest ever seed rounds in the country. Maersk boss Skou shoots down price war talk as Trump's battle with Beijing dents container shipping demand AP Moller-Maersk heads into uncharted waters as historic shift in strategy unfolds Huub, which offers end-to-end so
Clash involving Viking ship kills seven in Hungary Seven people have been killed and 21 others were missing after a collision between a small tourist boat and a Viking River Cruises river vessel in Hungary. The accident happened on Wednesday night in the Danube River in Budapest. The Hableany boat was carrying 33 South Korean passengers and two Hungarian crew, AP reported. Viking Ocean Cruises hit with $10m lawsuit over Viking Sky drama
Maersk Tankers linked to $60.6m double aframax sale Maersk Tankers is said to have extended a busy week with the sale of its final two crude tankers. Maersk Tankers strikes for four extra LR2s newbuildings at Dalian Shipyard Maersk Tankers targets major cut in CO2 emissions under new strategy The Danish owner booked four extra LR2s in China on Tuesday and was being linked with a second-hand MR purchase. Now, brokers believe the privately-owned
Yang Ming ship saves duo from burning yacht Yang Ming seafarers have saved two Australians from their burning yacht en route to Singapore. The rescue involving the 4,662-teu YM Excellence (built 2015) took place on 19 May while the vessel was sailing from China, the company said. Captain Lee Chien-Sheng revealed the crew saw black smoke billowing from the yacht, which soon burst into flames. The boxship tried to contact the boat in vain.
Fitch dials up debt rating on Sovcomflot amid growth of industrial business Fitch has upgraded its long-term issuer default rating on Russian shipowner Sovcomflot (SCF Group) at a time the company has set a target to follow the state back to investment grade. Shipowner Sovcomflot seeks to follow Russian state back to investment grade Sovcomflot seals newbuilding financing with new loan Sovcomflot posts big first-quarter profit as tanker market recovers The ratings age
Royal Caribbean Cruises teams up with Global Ports Holding in Antigua Global Ports Holding (GPH) is partnering with Royal Caribbean Cruises to develop cruise facilities in Antigua & Barbuda. Global Ports profit powers ahead Global Ports Holding wins 'landmark' deal in the Bahamas The world's largest independent cruise port operator has signed an equity partnership agreement with the cruise company for GPH's local subsidiary, GPH (Antigua). The partners will inve
Pillarstone aims for billion-dollar debt fund A debt fund launched by Pillarstone is targeting $1bn in distressed shipping assets. Finav, as the fund is known, has made a good start by acquiring distressed debt with a book value of $350m from two Italian banks. This means it is the biggest distressed-asset shipping fund in Italy. It will add to about $2bn of assets under management that Pillarston has in the distressed shipping and corporat
Pillarstone swoops to the rescue in indebted Italian shipping Private equity player is becoming a dominant force in solving banks' bad shipping debt in Italy
Prem Watsa's Fairfax lifts stake in Greece's Eurobank to 33% Prem Watsa's Fairfax Financial Holdings has increased its stake in Greek shipping lender Eurobank to 33.5%. The bank said it had been told that the fund, owned by Indo-Canadian billionaire Prem Watsa, had lifted its stake from below 25%. Eurobank slashes provisions to $764m Fairfax India grabs 41% stake in Seven Islands Shipping It now has 1.22bn voting rights in the bank's ordinary shares. T
Single structure model yields benefits for Wallenius Wilhelmsen Closer ties with EUKOR enhance fleet flexibility with grouping of assets, says Wallenius Wilhelmsen Ocean's Michael Hynekamp
Siem Car Carriers reinforces focus in Norway on cleaner LNG fuelling Norwegian player builds 7,700-ceu ships in joint project with car giant Volkswagen and bunker supplier Shell
Norwegian shipyards and equipment makers diversify from offshore shipbuilding Tech-focused Norwegian cluster riding out of downturn with ability to harness business opportunities related to ferries, expedition cruiseships and fishboats
UECC pioneers in car carriers with low-emission design Green fuels of the future factored into operator's strategy as it orders hybrid LNG-powered ships
Tax the rich? Norway's shipowners enjoy lower wealth tax Norwegian owners benefit from the government's efforts in cutting personal wealth tax-but a full repealing is unlikely
Norwegian shipping faces up to energy transition Norway's maritime cluster can take advantage of its technological capabilities amid tightening environmental regulations and continued digitalisation, some industry officials hope.
Hoegh Autoliners grows positive on LNG but rejects use of scrubbers Hoegh Autoliners chief executive Ivar Hansson Myklebust says the Oslo-based company considered using LNG as a fuelling option for its last series of newbuildings and it is an option for its next order. The Norwegian car carrier owner and operator has no firm plans to build new ships, but Hoegh has been watching technical developments closely and has a positive view on LNG. Myklebust's comments c
Norwegian mutual insurance model takes shape The big three Norwegian marine insurers are now providing a full range of cover to shipowner members and third parties
From Taipei to Pentonville jail, Nobu Su's fall is near complete As Taiwanese shipowner Nobu Su languishes in prison over $57m in court debts, Holly Birkett offers a personal reflection on his fall from global player to inmate
Boa says OCV outlook improving as oil price rises Norwegian owner Boa OCV has said the offshore construction vessel (OCV) market is improving as the oil price rises. The medium to long-term outlook is better for the company, which is also due to continued lowered hurdle rates for new field developments for oil companies, and increased volume of actual and estimated pending sanctioned offshore field development projects, it added. Bond trustee f
WFW praises Star Bulk after Delphin deal International law firm Watson Farley & Williams (WFW) has praised Star Bulk Carriers management after working with the company on the Delphin Shipping fleet deal. Petros Pappas adds to takeover tally as Star Bulk buys Delphin Shipping fleet The Nasdaq-listed shipowner paid $139.5m to acquire 11 bulkers in a shares and cash transaction this week. This is the third such deal that WFW have assiste
Oslo's $1bn capital market for shipping pushing New York for global supremacy Norway's 'impressive ecosystem' makes it a premier capital market for shipping, especially for newcomers
Golar LNG primed to reactivate laid-up FSRU for next Brazil job Company's first regas vessel converted from LNG carrier looks destined to return to South America
JJ Ugland reveals term charter effort amid improved results JJ Ugland is launching a drive to lock more of its supramax bulkers into short and long-term period charters, according to its latest annual report. The private Norwegian shipowner, which is listed with almost 50 bulkers, also confirmed that one of its vessels, the 58,000-dwt Lunita (built 2014), is on charter until 2023 following an off-market deal last autumn. JJ Ugland Group prepares to offl
MPC Container Ships keeps powder dry to make most of possible market recovery MPC Container Ships (MPCC) is positioned to benefit from a tightening feedership market in the second half of 2019 and in 2020, chief executive Constantin Baack says. He expects the feeder containership market to be buoyed by healthy demand and limited supply, despite the uncertainty caused by escalating trade tensions between the US and China. The Oslo-listed tonnage provider is opting to fix m
Kyklades behind HHI newbuild order for suezmax tanker duo Sources say Greek shipowner exercised options at South Korean yard
Fredriksen's back, with $500m newbuild orders Seatankers contracts up to four LR2s in China and signs letter of intent for two firm VLCCs, with options for two more
Brodosplit adds second Oceanwide cruiseship Croatia's Brodosplit shipyard has won a contract for a second cruiseship for Dutch owner Oceanwide. The 6,300-gt, 198-passenger vessel, Janssonius, will be delivered in October 2021, the yard said, according to the Hina news agency. It handed over the first, Hondius, this month. The value of both vessels is more than EUR 100m ($112m). The second ship is named after Johannes Janssonius, a Dut
Eidesvik PSV reactivated after nearly three years Norway's Eidesvik Offshore has brought a platform supply vessel (PSV) back into the North Sea spot market after nearly three years in layup. The 3,500-dwt Viking Athene (built 2006) has been fixed for a firm six months by Aker BP for supply and standby duties, broker Westshore reported. OSV owners see light at the end of long, dark downturn PSV trio reactivated after combined 11 years It has b
Owner of seized suezmax to take Egypt to court Embed: Ukrainian Sea Shark crew return home The owner of a suezmax held in Egypt since December is ready to launch a legal fight to regain control of the vessel. The 163,000-dwt Sea Shark (built 1991) was detained in the Red Sea after inadvertently straying into Egyptian territorial waters to avoid presenting a danger to shipping when it was prevented from passing through the Suez Canal, accordi
Bulk of Swiber creditors approve restructuring proposal Approvals come nearly three years after it filed for insolvency. KPMG picks up over $3m in fees.
Marinakis marks anniversary of Forest's first European triumph Thursday marks 40 years to the day since club he acquired won first of its two major cups.
Singapore strips Southernpec of bunker supplier licence Move follows removal of firm's license to operate bunker barges in earlier this month.
Hong Kong's Hutchison to build new Quebec box terminal Li Ka Shing-backed port operator says facility will be its gateway to the East coast of North America.
British Columbia port employers, ILWU reach tentative accord Dockworkers returning to work Thursday afternoon after all-night negotiations.
Pelosi remains 'optimistic' about infrastructure package President Donald Trump said last week that talks would not continue until Democratic lawmakers "get these phony investigations over with."
ALAN: Do supply chain checkup before natural disaster Logisticians can't help with recovery operations if their businesses aren't prepared, says Kathy Fulton, executive director of the American Logistics Aid Network.
China not named currency manipulator in report Japan, Germany and Malaysia among the countries that met two of three criteria to be designated by the Treasury as a currency manipulator, but no country met all three.
Executive Moves: Nexxiot, Grote Industries, IUMI
Five new Canadian icebreakers sought for Great Lakes
EIA says US residual fuel oil production rose 38% on week US residual fuel oil production across the US rose 38% week on week.
Crude tumbles on talk of softer US approach to Iran sanctions Crude futures tumbled Thursday, following a US gasoline stock build.
Dardanelles partially closed from May 31-June 9 on construction works The Dardanelles will be closed southbound from May 31 until June 6 and northbound from June 9 to June 12.
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