Sea1 Offshore orders two more ST-245 offshore energy support vessels Doubling down on a two-ship order placed in November last year, Norway's Sea1 Offshore (the former Siem Offshore) has now placed an order at Chinese shipbuilder Cosco Shipping (Qidong) Offshore Co. Ltd.
New Ibaizabal LNG bunkering vessel will be Wärtsilä 25DF powered Wärtsilä will supply three Wärtsilä 25DF dual-fuel engines for a new 18,600 cubic meter capacity LNG bunkering vessel being built for Spanish operator Ibaizabal at China's Hudong-Zhonghua Shipbuilding. The engines will feature
Nortrans pens deal with Saipem for flotel work on Chevron's Australian project Singapore-based Nortrans Offshore has been awarded a contract with Italian giant Saipem for work on the Jansz-Io compression project offshore Western Australia. As part of this project, the company took the 200-person flotel Belait CSS 1 on a long-term bareboat charter. This is the flotel's first project with Nortrans which is currently undergoing drydocking and ...
Floating wind still going strong despite US policy turmoil The United States' shift in offshore wind policy is set to create a potential global installation shortfall of 26GW by 2035 as a result, according to TGS' latest report. The company said in its Quarterly Market Overview Report that the withdrawal of a major market like the US has significant implications globally, with developers and ...
Seanergy strikes double sale and leaseback US-listed Greek capesize bulker specialist Seanergy Maritime has entered into sale and leaseback agreements with a Chinese financier for two of its vessels. The Stamatis Tsantanis-led company revealed in its annual report that the 2009-built Friendship and the 2010-built Squireship had been sold to China Huarong Shipping Financial Leasing, thereby refinancing the outstanding debt at ...
Prosafe sells 41-year-old flotel for recycling Oslo-listed semisub accommodation vessel owner Prosafe has signed a deal to sell one of its flotels for recycling. Prosafe said that it would be recycling its 1984-built, anchor-moored semi-submersible tender support and accommodation vessel Safe Scandinavia. The vessel is presently located in Norway and has been in cold layup for over six years. A condition ...
LS Cable & Systems focuses subsidiaries on offshore wind South Korea-based electrical cable provider LS Cable & System has announced that it will be expanding its presence in the offshore wind market through several of its subsidiaries. The company said that Gaon Cable, LS Eco Energy, LS Materials, and LS Marine Solution will further strengthen its competitiveness across the entire offshore wind power industry ...
MOL involved in Japan's first green ammonia import project IHI Corporation, Hokkaido Electric Power, Mitsubishi Gas Chemical Company, Mizuho Bank, Tokyo Century Corporation and shipowner Mitsui OSK Lines (MOL) have signed a memorandum of understanding (MoU) to explore investment opportunities in a green ammonia production project currently under development in India. In the project, a new green ammonia production facility will be established in ...
ClassNK appoints new president Hayato Suga has been promoted from senior vice president to become president and CEO of ClassNK, replacing Hiroaki Sakashita who becomes chairman of the Japanese classification society. Suga commented: "The business environment is changing rapidly, with boundaries between industries becoming increasingly blurred due to environmental challenges and digital transformation. In response, our mission
Ørjan Lunde returns to Odfjell Drilling Ørjan Lunde is stepping down as CEO of Norwegian shipowner Kristian Gerhard Jebsen Skipsrederi (KGJS) to return as chief financial officer at Odfjell Drilling, effective from September 1. Lunde was CFO at the drilling firm from 2019 to the start of 2024 when he moved to take the reins at KGJS. "We are pleased to ...
Synergy brings in ex-Unifeeder boss Jesper Kristensen as new CEO Jesper Kristensen has stepped into the group CEO role at Singapore shipmanager Synergy Marine. The industry veteran joins Synergy after stepping down from DP World-controlled feeder operator Unifeeder last year, where he was Group CEO for 17 years. "With 34 years of experience at Unifeeder, he brings unparalleled expertise in shipping, outsourcing and running highly ...
Tufton seals management buyout UK shipping investment manager Tufton has been taken over by its top executives in a management-led buyout. The deal involved all the equity interests previously held by a "European family office", London-listed fund Tufton Assets and Oslo-listed Tufton Investment Management-backed Stainless Tankers said in separate filings. Filings to the UK Companies House show German investor ...
Sea1 Offshore orders two more OSVs from China Norwegian offshore vessel owner and operator Sea1 Offshore has ordered two more offshore support vessels from China's Cosco Shipping. In early November last year, Christen Sveaas-backed company ordered two vessels from the Chinese shipbuilder. The vessels would be based on Skipsteknisk's ST-245 design and would be fit to serve both oil and gas and renewable ...
Nexans bags French offshore wind cable supply deal worth over $1bn French cabling specialist Nexans has secured a framework agreement with RTE for the design, manufacturing, and supply of HVDC cables that will connect the Centre Manche 1 & 2 and Oléron offshore wind farms to the French transmission network. The frame agreement includes the supply, installation, and commissioning of 450 km of high-voltage direct current ...
Equinor picks TechnipFMC for subsea work on Johan Sverdrup Offshore contracting giant TechnipFMC has been awarded an integrated engineering, procurement, construction, and installation contract by Equinor for the Johan Sverdrup Phase 3 development in the Norwegian part of the North Sea. The Johan Sverdrup field, which originally began production in 2019, is now one of the largest developments in the region. This latest phase ...
Modec to provide FPSO for Shell's Gato do Mato project Floater expert Modec has signed a purchase and sales agreement for an FPSO set to be deployed at Shell's Gato do Mato project offshore Brazil. This follows the UK-based energy supermajor making a final investment decision for the project. The Gato do Mato consortium includes operator Shell with a 50% stake and its partners Ecopetrol ...
UK to include shipping in its emissions trading scheme from next year The shipping sector will be brought under the UK Emissions Trading Scheme (UK ETS) from next year under new green maritime plans unveiled today which will see vessels soon use future fuels and plug into charge ports as part of the UK's new goals for shipping operators to reach net zero by 2050. Maritime minister, ...
The market impact of an ageing VLCC fleet Mette Frederiksen, head of research and insight at Tankers International, on the future of the VLCC trades. The VLCC market is changing significantly. While the global fleet continues to grow with the introduction of newbuilds, the ageing vessels in operation are losing efficiency, therefore slowing the actual growth of tonnage supply. Adding to this shift ...
VLCC spot rates stay strong but rallies prove brief before fading Investors in VLCC stocks are always waiting for the next tanker supercycle to begin. There's no hint of it yet...
Ukraine and Russia agree to cease Black Sea aggression, White House says Russia and Ukraine have agreed to 'eliminate the use of force and prevent the use of commercial vessels for military...
IMO wonders how to start its fight against flagging fraud The IMO says fraudulent ship registrations are an urgent threat to safety, the environment and the rules-based order. But a...
Strategic slowdown across businesses as uncertainty stalks Singapore Maritime Week Geopolitical turbulence is holding up investment decisions and forcing companies to slow down strategic shifts, but leadership responsibilities remain, argued...
Yangzijiang closes deal to acquire stake in Tsuneishi Zhoushan Yard secures strategic stake in Tsuneishi's shipbuilding unit, enhancing its market position
Hague Rules rule OK, High Court holds Judgment emphasises that 1924 convention is still key framework for shipping contracts
North Sea blaze boxship taken to safe berth in Aberdeen Containership Solong set to arrive at Scottish port later in week
Shipmanager Synergy Marine appoints Jesper Kristensen as new group chief Synergy Marine said Kristensen will lead the company in its 'era of transformation'
Boxship charter rates continue to defy freight markets Boxship charter market shows no sign of a downturn yet as vessel availability remains limited
Tufton Investment Management sees MBO Tufton Assets and Stainless Tankers unaffected by transaction
Salvor pays tribute to crews in blazing Red Sea tanker drama Crippled suezmax Sounion now in Greek waters awaiting possible repairs
Crowley appoints mining executive Jenny Fuss as CFO Prior to joining Crowley, Fuss was the finance chief at global mining services and equipment company Boart Longyear
The Daily View: Friend or foe? ContainersSingaporeGeopolitics
UK sets goal of net zero shipping emissions by 2050 and extends ETS The UK has unveiled its maritime decarbonisation strategy, aiming to cut greenhouse gas emissions by 30% by 2030, 80% by...
Daily Briefing Baltic and Arctic are newest AIS interference hotspots | Former Singapore PM warns of geopolitical choppy waters for shipping |...
Descartes snaps up rival to double down on domestic TMS market Acquisitions continue in the domestic freight market, with Descartes buying 3GTMS to continue a decade-long spree of purchases.
Kuehne + Nagel says gaining market share key to driving earnings growth CEO Stefan Paul told the company's annual capital markets event in London that while K + N will focus on organic growth, it will also make bolt-on acquisitions "if they make sense."
US support for carbon capture in question as projects boom along Gulf Coast Oil and gas project developers pin hopes on legislative support and tax breaks for supporting carbon capture buildouts in the US, but the future of those projects could be at a crossroads under the Trump administration.
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Cargo owners push IMO on measures to accelerate energy transition An alliance of global shippers is calling on the IMO to use the April gathering of its Marine Environment Protection Committee to meet the "urgency of the moment" when it comes to lowering emissions from shipping.
Maersk holds top spot for US Gulf import carriers in 2024; MSC leads for exports The top 10 carriers for imports collectively hauled 2.43 million TEUs into the Gulf Coast last year and had a market share of almost 94%, according to the latest Journal of Commerce rankings.
Russia, Ukraine agree to maritime, energy cease fires Both sides said they will rely on US to enforce tentative deal
'Star broker' Andi Case's pay package tops £12m at Clarksons after record year UK-listed shipbroker's chief executive described in glowing terms by remuneration committee chair
Trump picks Heritage Foundation naval warfare expert to lead US Maritime Administration Choice follows tradition of placing former US Navy officer at MARAD
Shipping at the centre of first scandal to hit Donald Trump's new administration President backs security adviser: 'Michael Waltz has learned a lesson'
Capesize spot market sluggish on slower Pacific activity Atlantic sentiment more positive as Brazil-China route hits $25 per tonne
Saudi Arabia could turbocharge tanker markets if Trump tactics open up oil taps US-based Breakwave Advisors said the kingdom could 'pull another 2015'
Meet the high-flying maritime tech CEO whose playground is the skies JiBE ERP chief executive complements intense work schedule with equally intense aerobatic flying
Burned-out container ship at hub of North Sea drama to be towed to Aberdeen It had previously been feared that the vessel would sink after accident and fire
Russia claims Spain 'violated dignity' of seafarers in ship drugs search Reefer was seized off Portuguese coast and held for three days following intelligence of drugs cargo
Container lobby warns spot rates to soar under proposed US port fees WSC strongly opposes proposals to use US-flagged or US-built vessels
Older LR1 product tankers finding new home in crude trades, broker says After crude tankers pulled out of product trades, one product tanker type is finding work with crude cargoes
Families appeal for release of 10 seafarers kidnapped from product tanker Indians and Romanians among those abducted from the Bitu River last week
BRS: Two reasons why crude cannibals will not flip from dirty to clean tanker trades Broker thinks supply-side pressures will keep product tanker rate recovery fleeting
'Death knell': Chorus of regional carriers tell Donald Trump officials of disastrous port fee consequences Some complain that they invested in Chinese-built ships long ago, with no way of knowing they would be penalised
Caravel Group buys a stake in bulker operator Pacific Basin Shipping Investment sits alongside shipping group's own dry-cargo trading and bulker-operating business
Unions call for wider port fee and yard support, as Chinese groups voice opposition Official proposes applying charges to land borders too
'A landscape ripe for asset play': BRS chief Gilbert Walter says Brokerage sees newbuilding prices falling by more than 10% in unpredictable markets
Affinity LNG moves into Dubai as it expands with new faces Desk head Joni Mackay describes LNG market as being at a 'pivotal moment'
Asset sales buoy Ernst Russ outlook despite shadow of tragic North Sea ship collision Shipowner's 2025 outlook boosted after $34m gain on sale of two container vessels
Vitol annual revenue falls as crude and product volumes dip Trader and shipowner says energy prices 'moderated' in less volatile markets
Petros Panagiotidis tanker spin-off eyes expansion as Nasdaq debut looms Robin Energy could move beyond product carriers after US listing in April
Denmark's Uni-Tankers bolsters fleet with energy-efficient chartered vessels Owner is adding modern sister ships built in Turkey
Donald Trump targets Venezuelan oil as US piles on more tariff pressure Move slaps 25% charges on imports from countries buying Maduro's oil
Jesper Kristensen re-emerges as CEO of Synergy Marine Veteran taking over at Rajesh Unni's ship management company after leaving Unifeeder last summer
Christen Sveaas-backed Sea1 Offshore adds two methanol-ready newbuildings at Cosco Offshore energy support vessels will be delivered in third to fourth quarter of 2027
Tufton Group bosses seal management buyout as investor Kurt Zech sells up UK shipping investment operation says move has been carefully planned to greatly increase ownership by key executives
Innovative solutions can help circumvent US policies targeting Chinese-built ships, says F Laeisz Head of German shipping company offers potential solutions at Singapore forum
MOL and five Japanese companies sign MOU for green ammonia plant in India Japanese consortium working with India's renewable energy company ACME Group
Japan P&I Club loses tonnage as rivals target country's large fleet Senior officials say inflation and higher costs of claims have contributed to a challenging environment
Energy major Shell plans LNG sales boost to the end of the decade Major aims to deliver more with less emissions while cutting costs
Seanergy signs two sale and leasebacks worth $34.5m with Chinese lessor Deals to have marginally positive impact on cash breakeven levels
Havila Shipping takes banks to court over allegations of restructuring default Norwegian owner files lawsuit in Oslo in row with some of its lenders
BW-backed Cadeler tips top line to double this year backed by $2.7bn contract backlog Company will take delivery of four windfarm installation vessel newbuilds in 2025
Iranian tankers using forged Iraqi documents, oil minister Abdel-Ghani claims Iran denies allegations that inspections have revealed false documents
Oslo bond market defies geopolitical uncertainty as Pareto sees more shipping issuers entering Investment bank arranged bonds by SFL Corp, Scorpio Tankers and MPC Container Ships
Equatorial of Singapore selling large storage tanker, reportedly for recycling Bunkering giant believed to be replacing elderly EM Unity with former Transmed suezmax
Wallem boosts managed fleet with dual-fuel car carriers Ship manager says new fuels and engine types require training crews on methanol and ammonia now
UK to bring shipping into national emission trading scheme in 2026 Minister committed to making the UK 'a green energy superpower'
Ambrey launches new war risks insurance arm for a volatile world UK-based security firm adds to growing list of niche expert insurance providers in the shipping world
Trade groups, businesses speak to both sides of proposed US port fees Fight China's shipping practices and revive U.S. shipbuilding, commenters tell the U.S. trade representative, but don't punish domestic industry in the global market.
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