Royal Caribbean sells Azamara brand Royal Caribbean Group (NYSE: RCL) reports that it has entered into a definitive agreement to sell its three-ship Azamara brand to Sycamore Partners, a private equity firm specializing in consumer, retail and
MARAD authorizes construction of two more NSMVs The U.S. Department of Transportation's Maritime Administration (MARAD) today authorized the construction of two additional National Security Multi-Mission Vessels (NSMV). The two ships, funding for which was approved in the massive omnibus
Singapore to vaccinate 10,000 front line maritime workers Singapore has become one of the first countries to prioritize COVID-19 vaccinations for frontline maritime personnel, with the Maritime and Port Authority of Singapore noting, "these workers go onboard vessels at our
Brix Marine wins order for third IPS-drive cat Port Angeles, Wash.-based Brix Marine (formerly Armstrong Marine USA) has been contracted by Northrop Grumman to build a catamaran survey-research vessel, slated for fall 2021 completion. The 44- by 16-foot vessel is
Seaway System reports strong 2020 season U.S. and Canadian ports in the Great Lakes-St. Lawrence Seaway system reported that overall tonnage during the 2020 navigation season was down just 1.7% compared to the 2019 navigation season, despite facing
VIDEO: Austal launches new range of high speed electric vessels Austal Australia has launched a new series of Volta electric-powered high speed ferries, with the first design offered being the fully electric 46-meter Passenger Express 46V. Austal says the Volta series differs
Trump administration slaps last-minute sanctions on firms connected with Russia, Venezuela and Iran The last-minute sanctions came into effect on Tuesday, just hours before President-elect Joe Biden takes office, with experts wondering how...
Port of Los Angeles offers marine terminals financial incentives to speed throughput Under the programmes, the port will offer terminal operators two ways to earn financial rewards: one for shortening the time...
Port of Long Beach breaks annual container throughput record in 2020 Mr Cordero issued an appeal for the Covid-19 vaccine to be distributed immediately to longshore and other waterfront workers in...
KSOE wins $79m VLGC order from compatriot KSS Line There has been a spate of very large gas carrier orders in recent months on the back of strong freight...
Dry bulk owners see atypical positive start to the year The start of 2021 has registered unusual strength for the time of year, a sign that the slump of the...
Paratus adds parametric freight insurance to fuel hedge line Company believes buyers of 97% of the 4m barrels of bunkers consumed each day are not currently hedged
Denmark pushes Gulf of Guinea piracy up the political agenda Denmark said its ambassador to Netherlands would become a special representative for maritime security, amid concerns about pirate attacks on...
IEA cuts oil demand forecast as global tanker fleet faces slowdown Forecasts to weigh on spot tanker earnings, which are already below operating costs for most of the 2,000-plus larger tankers...
Seafarers are a priority vaccine group, say owners The International Chamber of Shipping is pushing for governments to give seafarers and frontline shore workers priority access to vaccines...
Shipping must prepare for post-pandemic risks Shipping should anticipate significant risks in its recovery from the pandemic, including the challenges of digitalisation and uneven technological competence...
Global trade recovery faster than expected Businesses are optimistic that trade levels will return to pre-pandemic levels within two years. But supply chains are likely to...
Gard extends health cover for fixed premium P&I clients Move will include liabilities, losses, costs and expenses falling within the scope of terms of entry
Cyprus offers tonnage tax cuts for 'greener' vessels Headline 30% tax cut will be available for vessels using alternative fuels, achieving reductions in carbon dioxide emissions of at...
Cargo rollovers rose at 75% of major ports in December The continuing surge in container demand is leading to more ports and carriers reporting delayed shipments. Even if shippers can...
Ince hires WFW's Mexias as Piraeus partner His expertise includes loan financings, sale and lease back transactions, restructurings, loan portfolio transfers, corporate acquisitions and sale and purchase
Zhonggu rolls out $700m boxship ordering plan Supported by fast-growing intermodal networks, a containerised model is deemed as a cleaner and more efficient way to haul energy...
Over 60 bulkers caught in China-Australia coal standoff While some cargoes have been diverted, most of the vessels have been waiting in Chinese anchorage since June last year...
Daily Briefing Free to read: Transatlantic product tankers divert as US refined products demand stalls | Volume surge, not blankings, behind supply...
Rio Tinto sees Chinese policies supportive of commodity demand The Anglo-Australian company expects to ship between 325m to 340m tonnes of iron ore from Australia in 2021. Yet, it...
Gunvor backs flexible US LNG tender Gunvor and Commonwealth LNG are offering prospective buyers and bidders flexible pricing, shipping and cargo destination terms in exchange for...
Jiangnan Shipyard confirms orders for VLGC pair The 93,000 cu m, dual-fuel gas tankers are the fourth-generation VLGC series, the Panda 93P, designed by the shipbuilder. They...
Imabari continues dramatic growth with major JMU share acquisition Japan's largest shipbuilder now owns 30% of JMU as part of a cooperation pact that started this year
US government commissions two more seafarer training ships Once completed, the ships will be headed to Maine and Texas
US hits out at Venezuela again, with six ships caught in its sights The ships and companies were blacklisted alongside others the US said constitutes a network to evade its sanctions
Navig8, Maersk Tankers charters in period MR tonnage in weak rate environment Trafigura also takes a third newbuilding tanker on time charter from Norden this month, say brokers
VLGC rates set to hold strong in 2021 as market inefficiencies roll on Panama Canal delays and dry-dockings will offset any risk from a decline in US LPG production, Poten says
ICTSI completes expansion of Manila boxship terminal Rates approach $40,000 per day amid boxship market boom
Norwegian further extends fleet suspension amid CDC rules New York-listed Norwegian Cruise Line Holdings will keep ships idle through April
Period enquiry perks up but remains an elusive thing for bulker owners Noble Capital owners' panel cite an increase in interest, but structural impediments remain in the way
Royal Caribbean Group to sell Azamara brand for $201m Sycamore Partners is planning a 'seamless transition' in taking over the line
More than 80% of firms investing in supply chain overhaul due to Covid-19 Companies looking to spend heavily on reconfiguring their supply chains amid confidence of post-pandemic trade recovery, DP World survey says
Scorpio Bulkers parts with two more lease-financed ultramaxes for $35m Pair listed under ownership of China's Avic Leasing go in en bloc deal.
CMA and SHIPPINGInsight together again for North American Shipping Week The event is planned to be both online and in-person
Portline Bulk linked to sale of only capesize Portuguese shipowner also reported to have sold two smaller bulkers
Fuel price spread to offer more incentives to install scrubbers in 2021 But shipowners may not come back to order exhaust gas cleaning system in droves due to regulatory pressure
Norton Rose Fulbright includes 19 lawyers among 132 EMEA redundancies Firm being reorganised into six 'core pillars' to meet 'profound change' in legal industry
BAR Technologies wind sail to be fitted to kamsarmax bulker in 36-month test Carbon-cutting project that aims to remove 99% of greenhouse gas emissions will test BAR Technologies' system
EGD expands in chemical tankers with purchase of Japanese duo Buys two units from Alberta of Greece
Diplomat to step up Denmark's fight against piracy Experienced ambassador Jens-Otto Horslund tasked with gaining support for international military force in Gulf of Guinea
Arc7 LNG carrier damaged on Northern Sea Route winter voyage Teekay and China LNG Shipping Holdings-controlled vessel continued without assistance but repairs likely needed
Cyprus enacts tonnage tax cuts for good climate performers Mediterranean jurisdiction to woo shipping players with discounts of up to 30%
Brexit customs chaos likely to build as traffic starts to grow Forwarding group DP Schenker among transport firms suspending shipments between the UK and EU
Charter rates for large boxships breach $40,000 per day Seamax secures top rate as owners push for three to five-year deals
FSL Trust sells 2007-built MR tanker in continued asset disposals The Singapore-listed trust reportedly sells FSL Osaka for more than $11m
Global dry markets propel growth of EEX towards record year German clearing house and exchange reports tenfold increase in dry freight business
Gunvor claims flexible first for Commonwealth LNG offtake tender Swiss trader says bids are being invited for 8.4m tonnes per annum of gas from Commonwealth LNG in the US
Singapore to vaccinate 10,000 front-line maritime personnel About 700 people have been inoculated with city state hoping to complete effort by late January
Wind sail to be fitted to Cargill kamsarmax and MSC Cruises ship in 36-month test Carbon cutting project that aims to remove 99% of greenhouse gas emissions will test BAR Technologies' WindWings system
Avance Gas could save $5,000 per day with new dual-fuel VLGCs Fearnley Securities crunches the numbers on newbuildings, but warns over dividend levels
World Fuel Services protects cruiseship bunker claims against Carnival bid Bunker supplier succeeds in preserving payouts for interest and costs in case involving ex-CMV vessels at UK Admiralty Court
OOCL reveals 51% revenue jump as volumes soared in fourth quarter Figures from Hong Kong line are first concrete indication of effect of boxship boom at the end of 2020
Mediterranean Shipping Co to cover costs after Maersk boxship disabled by fire Maersk Elba being repaired in Spain as Swiss partner wants to avoid general average
Mysterious 'ghost ship' washes up on Taiwanese rocks Coast Guard trying to identify a cargo vessel that may have broken a tow rope off the Penghu Islands
Iranian courts to decide fate of seized South Korean tanker Hankuk Chemi Securing release of seized ship could put owner and operator at risk of breaking US sanctions
Stale Hansen looks to shape Skuld into P&I club of the future Chief executive wants a diverse business, with strong ESG principles and new working practices to emerge from the pandemic
Sinokor puts two VLCCs on sales block amid drive to offload large tankers Pair of 2005-built ships up for sale after year that saw South Korean shipowner unload nine large tankers
Low-profile Olympos Shipmanagement takes in slew of bulkers in Greece Market players link Middle Eastern interests behind new, secretive management company that has appeared in Athens
Buana Lintas Lautan swoops on Maersk chemical tanker quartet Enbloc deal could see ice-classed chemical tankers to move to the warm waters of the Indonesian archipelago
Singapore to vaccinate 10,000 frontline maritime personnel Some 700 people have already had their jabs with city state hoping to complete effort by late January
Japanese bulker yards pin recovery hopes on efficiency edge Bulk carrier builders believe environmental advantage can help make them competitive again
Teekay set to scrap North Sea FPSO in Denmark Tanker owning giant says US-owned group selected following competitive tender process
Dry bulk shipping revs up after 'extraordinarily bad decade' This has been the best January for dry bulk shipping rates in a decade. Is this the long-awaited turning point or yet another head fake?
Airlines absorb $391 billion revenue shortfall in 2020 Airlines are heavily in the red and a big shrink in passenger revenue last year is to blame. The International Civil Aviation Organization quantifies the...
OIL FUTURES: Crude climbs amid tightened supply outlook, weaker dollar Oil futures settled higher Jan. 19 amid a tightened global supply outlook and a weaker dollar.
Singapore Feb ex-wharf marine fuel term indications higher as demand grows: sources Singapore's ex-wharf term contracts for February-loading 0.5% sulfur marine fuel were heard offered at a premium of $5.50-$6.00/mt over the FOB Singapore Marine Fuel 0.5% cargo assessment, higher than the contract settlements of a $2.00-$2.50/mt premium for January-loading contracts, sources said Jan. 19.
Braskem chooses Port of Rotterdam for bioplastics storage Braskem will move its bioplastics storage facility from the Port of Antwerp to the Port of Rotterdam, according to a press release on Jan. 19.
AMERICAS BUNKERS: Key market indicators Jan. 18-22 **Demand rises in Panama amid tightening logistics **West Coast prices on rise via support from crude markets **Congestion reported in New Orleans
Eleusis port damage to halt operations for over a week: sources The loading section at the port of Eleusis, or Elefsina, Greece, has sustained damage due to a crash, market sources said, adding that repairs will continue for "at least 10 days"
0.5%S marine fuel finds support on emerging demand, limited availability **Northwest Europe Hi-5 spread reaches multi-month highs **0.5%S marine fuel crack moves higher on tight supply: sources
RUSSIA DATA: Jan-Nov oil product exports down 1.7% on year Russia's refined oil product exports from January-November were 1.7% lower on the year at 126.814 million mt, customs data showed Jan. 19.
World's first LNG-fueled large bulk carrier arrives at Port Waratah HL ECO, the first LNG-fueled ship to berth on the eastern Australian seaboard, arrived at the Koorang Terminal in Port Waratah on Jan. 11, according to Port Waratah Coal Services.
VLSFO premium over HSFO rises on stronger crude prices **Hi-5 bunker spread widens on month, but steady in Jan **Resistance to further widening from Saudi output cuts **Scrubber installations to slow down in 2021
Renewables financing must include policies with clear goals: IRENA chief **Fossil fuels comprise 70% of all energy subsidies **UAE may announce new financing program next month **Every $1 of public funds can raise $4-$5 of private money
Global refinery throughput expected to rebound in 2021: IEA Global refinery throughput is expected to rebound by 4.5 million b/d in 2021 after a 7.2 million b/d drop in 2020, the International Energy Agency said Jan. 19.
PetroChina's bunkering ops at new anchorage to likely boost Zhoushan's prospects **First operation from new anchorage on Jan. 13 **Zhoushan subsidiary supplied 210,000 mt bunker fuel in 2020 **Zhoushan port attractive on product availability, competitive prices
IEA sees OPEC+ regaining oil market share in 2021 as US output subdued **Lowers 2021 demand recovery estimate by 240,000 b/d to 5.5 mil b/d **Lowers 2021 'call' on OPEC by 300,000 b/d to 27.7 million b/d **Prices 'well supported' by economic, financial, market fundamentals
Blue ammonia to comprise bulk of hydrogen transportation due to lower costs: HSBC **Ammonia more energy-dense, easier to liquefy **Several blue ammonia projects in pipeline
Thailand's PTTGC to hike domestic bunker fuel supply in 2021, reduce exports **Domestic bunker fuel supply to increase to 50,000 mt/month **Exports to fall to 35,000 mt/month from 50,000 mt in December **Thai bunker prices typically $10/mt higher than in Singapore
Australia's 2021 refined product demand to jump amid new refinery landscape **Kwinana refinery closure to lead refining output to contract sharply **Gasoil, gasoline consumption to recover; jet fuel demand to stay tepid **Asian refiners step up to fill Australia's growing import appetite
CHINA DATA: 2020 key oil product outflows slide 17%, export quota underutilized **2020 quota utilization at 78% vs 99% in 2019 **Traditional exporting firms tend to keep barrels at home **Gasoil outflow to remain low in January
Port of Antwerp crude throughput in 2020 falls 60% on year **Oil products throughput rises 3.4% **Total freight volumes decline 3.1%
Singapore Marine Fuel crack at 10-month high on strong N Asia LSFO demand Rally in the Asian marine fuel 0.5%S to be short-lived after cold snap retreats.
Saudi Arabia's Jazan refinery likely to be supplied with domestic crude: traders Current weak global crude demand levels made it feasible for Saudi Arabia to implement production cuts while still stocking the refinery.
Maritime players join forces to explore solid oxide fuel cell potential in global shipping By electro-chemically converting fuel into electricity, SOFCs can potentially produce power with higher efficiency.
VLGC rates retreat from over five-year highs on slower LPG shipments The correction may be limited by a rise in Asian LPG prices and as vessels continue to be sent to dry docks.
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