Tidewater marks "a satisfying milestone" Houston-headquartered offshore services giant Tidewater Inc. (NYSE:TDW) has released third quarter results that see it report positive net income for the first quarterly period since 2017. "Our third quarter performance reinforces our
GAO dismisses Vigor bid protest The U.S. Government General Accounting Office (GAO) has dismissed a bid protest filed by Vigor Marine LLC of Portland, Ore. Vigor had protested the terms of delivery order request for proposals (RFP)
Bisso Towboat back at Main Iron Works for a further ASD tractor tug Luling, La.-based Bisso Towboat Co., Inc. has signed an agreement with Main Iron Works LLC, Houma, La., to begin construction of a 5,000 BHP ASD tractor tug. The tug will feature two
Feds offer $5 million reward for info on fugitive shipowner The U.S. Department of State's Rewards for Justice (RFJ) program, is offering a reward of up to $5 million for information on Kwek Kee Seng, a Singaporean national and director of the
CN Photo Project: The Picture of the Week Container News wants to thank you all for your participation in the CN Photo Project . Among all the very beautiful photos we have received, the Container News team has chosen the following picture as "The Picture of the Week"! Title: MSC Lisbon arriving at Port Houston Bayport Container Terminal after the rain under a rainbow - Photo taken by Henry Kadoch Be part of the CN Photo Project and stay
New Kalmar equipment to enhance port operations at Grangemouth and Tilbury New low-emission Kalmar straddle carriers arrived at Forth Ports' container ports at Grangemouth and Tilbury in the United Kingdom earlier this week. This was part of a significant investment in equipment for Forth Ports' important box terminals. The 12 straddle carriers were transported from Kalmar's facility in Poland by the specialist vessel Aura, which delivered five to the port of Grangemout
China ports boost container throughput: Shanghai remains on top, smallers hubs achieve double-digit growth Chinese container ports have achieved a 4% increase in their container volumes during the first nine months of the year, compared with the same period in 2021. China's box ports have handled 219.3 million TEUs from January to September 2022 and the following table shows the container throughput and the cargo throughput of the twelve major ports in the country. As seen in the table, the ports in S
HPC to undertake pre-feasibility study for Port N'diago operations A pre-feasibility study will be accomplished by HPC Hamburg Port Consulting (HPC) for the development of an operable business concept for Port N'diago in Mauritania. HPC, which was selected to take over the study by the private investor Mimarine International, will identify investment requirements for port operation, the connection by rail to the hinterland and for a dry port terminal. The result
New box terminal launches operations at the port of Abidjan Côte d'Ivoire Terminal officially launched the commercial activities of the new container terminal of the port of Abidjan on 2 November, when CMA CGM Rossini arrived at the new terminal, transporting 5,770 TEUs. The launch of the activities of the second terminal comes after successful tests in mid-October 2022. The project was a result of an overall investment of around US$90 million, of which a
Ocean Yield swoops for third methanol-ready boxship Norwegian owner Ocean Yield is buying its third methanol-ready 5,500 teu container vessel under construction in South Korea. The vessel will be built at HJ Shipbuilding and Construction, formerly known as Hanjin Heavy Industries & Construction, with delivery expected in the third quarter of 2023. No price tag has been revealed for the wide beam ...
Dry bulk braces for troubled end to the year The last three weeks have been poor for dry bulk earnings, with the very real prospect the Baltic Dry Index could duck below the 1,000 point mark this month. Capes are now working at roughly $5,000 a day below opex on the spot market, and are close to dropping below the $10,000 mark. Dry bulk ...
Sembmarine bags Ørsted wind farm maintenance contract Singapore's Sembcorp Marine has sealed a deal with Danish utility Ørsted to carry out planned preventative maintenance on one of the world's largest offshore wind farms. The company's wholly-owned subsidiary Sembmarine SLP will work on the Hornsea 2 located 89 km off the Yorkshire coast in the UK North Sea. The contract involves the maintenance ...
Valaris sells 40-year-old jackup for $28.5m New York-listed offshore driller Valaris has struck a deal to sell its 40-year-old jackup Valaris 54 for $28.5m. The sale to an unnamed buyer is expected to close in March next year after the rig completes its contract with Saudi Aramco. Anton Dibowitz, president and chief executive of Valaris told investors during third-quarter earnings call ...
Prysmian adds to cable-laying fleet Italy's Prysmian has bolstered its subsea cable-laying fleet to five vessels with the purchase of the ultra-shallow-water barge . The cabling giant said the addition of the 67 m long would make it the first in the sector that can provide the full range of cable-laying solutions from the shallowest coastal waters in Northern Europe ...
Vintage capes changing hands Capes sales are trickling in despite depressing rates in the sector. Rates have slid by more than 20% this week with capesizes now earning a loss-making $10,000 a day. Nevertheless, eager Turkish, Chinese and Dubai-based buyers continue to add tonnage. Cape statistics from Allied Shipbroking show that close to 50 capes have changed hands so ...
Golar LNG sells $100m of CoolCo shares Tor Olav Trøim's Golar LNG has sold around 8m shares in spin-off Cool Company (CoolCo) raising net proceeds of approximately $100m. Following the sale Golar will own around 4.5m shares, representing 8.3% of CoolCo. Commenting on the sale, Golar CEO Karl Fredrik Staubo said: "The sale of CoolCo shares is driven by progress on FLNG ...
Change at the top at Ernst Russ Shipbroker A change at the top of one of Germany's best known shipbrokers has been announced. Jan-Hendrik Heikes, managing director of Ernst Russ Shipbroker, will retire at the end of the year, and is set to be replaced by Maik Putzer (pictured). Putzer started his apprenticeship at Stüwe & Co in 2002. After the founding of ...
Port of Oakland terminals reopen after union walkout The employee walkout that closed several terminals at the Port of Oakland on Wednesday was over by the time the evening shift began. A spokesperson for the International Longshore and Warehouse Union (ILWU) confirmed that the protesting workers took action as a local chapter, rather than as representatives of the entire union. Their chapter, Local ...
Successful bidders win oil exploration licences for more than 1m hectares offshore Newfoundland Five successful bids were received in a call for bids for offshore exploration in the Eastern Newfoundland Region, said the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) in a statement. Successful bidders were BP Canada Energy Group, Equinor Canada, ExxonMobil Canada and QPI Energy Canada. The bids totalled more than C$238m in work commitments and ...
Dark fleet danger as accident-prone elderly tankers anchor off Malaysia Two tankers sanctioned in recent days by the US were involved in casualties off Singapore in the past six weeks...
What does a good COP27 look like for shipping? Headline commitments to decarbonise shipping are finally being worked into the wider energy transition. The results of this year's COP...
The Lloyd's List Podcast: Magic pipes and whistleblowers Proponents of whistleblower awards call to expand the programme in the US and globally, while critics argue the awards can...
Eagle Bulk chief says company performed well in a 'volatile' environment Mr Vogel says the mid-sized dry bulker specialist outperformed the Baltic Supramax Index by almost 46% as it navigated a...
Galbraith's-Ifchor merger is welcome alternative to shipbroking majors The timing of combining well-regarded dry cargo and tanker brokers looks good, while charterers and shipowners will benefit from the...
Don't rule out nuclear as 'future fuel', says Stopford Maritime economist Dr Martin Stopford has urged the shipping industry not to rule out the 'nuclear' option as an alternative...
Maersk signs green methanol production accord with Spain Deal would explore large-scale production of up to 2m tonnes a year of green methanol, according to Maersk...
MSC says it will fully pass on EU carbon tax compliance costs to customers Final details to incorporate shipping into the EU's emission trading scheme still being finalised in trilogue talks between policymakers. An...
Marriage between hardware and software is key to maritime collaboration Wärtsilä's Roger Holm says bringing engine builders together with voyage optimisers will only work if both parties see the wider...
UK's Russian oil insurance ban said to have little extra impact UK to outlaw cover for crude from December and products from February, in move that duplicates earlier EU sanctions British-based...
FSL Trust says vessel-sale strategy boosts profits Third-quarter net profit includes $2m net gain from chemical tanker sale Related Stories Don't rule out nuclear as 'future fuel', says Stopford Maersk signs green methanol production accord with Spain MSC says it will fully pass on EU carbon tax compliance costs to customers
Glencore to pay $314m after bribery investigation Glencore ordered to pay $314m after pleading guilty to seven bribery offences...
Dorian mulls first ethane carrier orders US-based owner of liquefied petroleum gas carriers wants to enter the ethane shipping sector as technology advances. The ethane market's...
NYK forecasts slower market conditions NYK's energy business in general benefitted from disruption relating to Russia's incursion into Ukraine...
PetroChina hires ex-Cosco veteran to lead shipping business Chinese oil gas giant has also moved the headquarters of its shipping and chartering operations from Beijing to Hong Kong...
MOL doubles profit in face of tough conditions MOL forecasts that the capesize market will remain firm in the latter half of the financial year because of strong...
US blacklists tankers linked to Iranian oil-smuggling network US says Middle East Gulf-based network blended Iranian oil with Indian products to conceal its origin, modified and counterfeited the...
Newbuild market prospects look 'bleak' for 2023 Economic decoupling between east and west alongside green fuel uncertainties are the biggest factors to dampen shipowners' appetite for fresh...
K Line doubles profit on bulker and tanker gains K Line expects dry bulk rates to stay firm going forward, based on tight vessel supply and geopolitical uncertainties driving...
Eagle Bulk earnings decline in 'volatile' trading environment Mr Vogel says the mid-sized dry bulker specialist outperformed the Baltic Supramax Index by almost 46% as it navigated a...
Eagle Bulk posts solid quarter in 'volatile' trading environment Mr Vogel says the mid-sized dry bulker specialist outperformed the Baltic Supramax Index by almost 46% as it navigated a...
US blacklists Iranian oil smuggling network US says Gulf-based network blended Iranian oil with Indian products to conceal its origin, modified and counterfeited the blend's certificates...
US truck capacity shifting as spot rates drop US truckload capacity isn't so much declining as it is shifting, according to data, and that will pose challenges to shippers and carriers trying to access trucks, trailers, and drivers.
US trucking jobs rebounded to all-time high in October For-hire trucking companies added almost 20,000 jobs last month, erasing September's payroll cut as capacity shifts between trucking sectors.
Lower LA-LB imports help BNSF clear Dallas congestion With softer import volumes coming from Los Angeles-Long Beach, BNSF has made significant progress clearing the backlog of ocean containers at its Dallas-area terminal and hopes to restore normal conditions within weeks.
Maersk makes Spanish deal to expand green fuel production The availability of green fuels in sufficient quantities and at cost-competitive price levels remains the main challenge for the decarbonization of global shipping, says Maersk.
Air cargo market braces for turbulent 2023 There is no sign of an air cargo peak season this year and few signals that 2023 will see any improvement as global economic conditions worsen.
Will insurance giants' retreat from oil and gas leave shipping exposed? As COP27 gathers in Egypt, leading insurers are increasingly showing their intent to decarbonise
Premiums pay as eco VLCCs with scrubbers see spot earnings burst past $100,000 per day Trafigura scores lucrative fixture to Kuwait Petroleum for scrubber-fitted ship
Tidewater drags customers into short-term charter deals to catch improving rates Houston offshore giant posts first profit in more than five years as rates skyrocket
Race against death: chief officer tells of battle to save stricken seafarers Xu Bo leapt from his tanker to reach two stricken men who had fled their sinking cargo ship
G7 and Australia settle on fixed price but exempt shipping costs from Russia oil cap Coalition of the world's richest countries continues to move toward a system to cap the price of Russian oil
Eagle Bulk open to acquisitions outside core supramax-ultramax niche Connecticut owner eyes opportunities with valuations off the boil, but wary of higher debt costs in inflationary environment
Color Line quits pure ro-ro business and puts two ships up for sale Ropax and cruise ferry owner Color Group is selling two ships and getting out of pure ro-ro business for now after Norway cut subsidy measures
Ocean Yield snaps up another methanol container ship from MPC Capital Norwegian lease financier adds third green vessel with charter to Zim attached
Zero-emission tug boats come into their own as ports clean up their act Battery-powered newbuildings are sailing out from shipyards while orders keep rolling in
Editor's selection: Maersk to slash capacity, broker giant spawned and Euronav's merger moves The biggest stories of the week in shipping - brought to you by TradeWinds news editor Yannick Guerry
Eckero Shipping chops ro-ro fleet to one ship in sales deal Finnish owner strikes agreement to offload veteran pair to Norwest Ship Management
SSY broker hits big at Hayfin Capital charity golf day The event raised much-needed funds to help seafarers around the world
Feeding frenzy: price for veteran VLCCs has climbed 51% this year VesselsValue analyst Rebecca Galanopoulos Jones says strong demand is bolstering asset values
Braemar launches 10-strong natural gas desk UK shipbroker continues to build on securities offering with team led by Marc Jarvis
Expanding Tankers International pool could 'one day' hit 100 VLCCs Euronav CEO Hugo de Stoop has high hopes for operation that has added 21 tankers so far this year
Tanker focus: KCC explains why one leg is sometimes better than two CEO Engebret Dahm tells analysts that combination trades are usually more efficient - but not always
'Have you seen this man?' US offers $5m bounty to snag fugitive shipowner Singaporean Kwek Kee Seng is accused of shipping oil products to North Korea
Christmas clash: Frontline and Euronav did not want merger tender to run over festive period Crucial offer has been delayed to make every vote count
Surging newbuilding prices are the 'new normal', Mitsui OSK Lines' Hashimoto tells TradeWinds forum Decarbonisation will require a huge, costly investment for shipping, MOL chief executive tells delegates
UK slaps insurance and broking ban on Russian oil exports Sanction is in line with the price cap scheme recently agreed by G7 member states
Good fit strategically, but culturally? Market reacts to Galbraiths-Ifchor merger 'It's as if the Montagues and Capulets have come together', one competitor quips
Maersk's Skou meets Spanish PM Sanchez to agree huge methanol fuel deal Danish executive has secured up to 2m tonnes of green bunkers for new ships
Gram forecasts even better earnings as ships start new contracts Norwegian car carrier owner well positioned to take advantage of record markets
Norvic Shipping eyes entry into the logistics business Bulker operator has been looking at a range of options to diversify and grow its business, including possibly going public
Special report: A Danish approach for the future In a TradeWinds Business Focus, Holly Birkett explores how getting the green transition right in Danish shipping will involve connectivity that can keep trading patterns and trade volumes at a high level, the value of collaboration in the sector's leadership culture and an outside-the-box approach to attracting to the country. Read all the stories below
Collaboration in Copenhagen: shipping aims high to get to zero Denmark's shipping sector has set itself ambitious decarbonisation goals for the years ahead
Shipping has bigger concerns than a change in Danish government The industry is influential in Denmark, but the wider business community has concerns that changing economic priorities could stifle sustainability goals
Danish Shipping is at the heart of turning Denmark's blue economy green 'Getting the green transition right' is the top priority for shipowners' association, according to its CEO
The secret of the Danish approach to diversity? Make it part of something else Denmark's maritime sector is thinking outside the box when it comes to promoting diversity and inclusion
The sea suite: how Denmark is raising a new generation of shipping leaders Has Denmark cracked the code of how to get young people into shipping careers - and keep them?
US blacklists 11 big tankers over links to Ukrainian national, Iran and Hezbollah Sanctioned ships include VLCC and suezmax that had high-profile casualties recently
K Line signs up major shareholders for $675m share buyback Japanese shipowner said this was found to be the best way to return funds to investors
Shin Nihonkai pulls plug on subsidiary Venus Cruise Japanese ferry conglomerate to end 33-year foray into the cruise sector
Sembcorp Marine expands into renewable maintenance sector with North Sea contract Singapore firm says contract is part of a transition away from just being a fabricator in the green energy sector
Port Houston to implement fees for long-dwelling containers The Port of Houston announced it will begin implementing fees for long-dwell containers beginning Dec. 1.
Korean Air keeps cargo momentum going in 3rd quarter Cargo continued to dominate the passenger side at Korean Air during the third quarter.
Air cargo market continues to deflate under global economic pressures Good news for shippers is bad news for airlines as cargo demand and rates retreat again in October.
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