Venezuela cocaine bust ship appeal refused B Atlantic owners left with ruling that standard war risk policies do not cover drug smuggling
Golar Power charters FSRU Golar Nanook for 25 years Deal will generate earnings of $39m per year for burgeoning new company
Cosco Shipping takes stake in Italian port Vado Container Terminal set to be a semi-automated facility that can host ultra large containerships
Odfjell sells stake in Oman tank terminal for $130m Focus is on growth in core markets Houston and Rotterdam
US Gulf and South America strength supports handysize bulker earnings But European and Pacific markets see little activity
Teekay sells last MR product tanker Earning power of product tankers in 2016 has not been as strong as last year
CIMC warns of net losses ahead Terminated SinoPacific Offshore acquisition and weak global economy could mean losses of up to $51.2m for container leasing company
International operator sought for new Egyptian box terminal Damietta Port Authority looks to global player for proposed second box facility with developer on board
HMM eyes Hanjin's Asia-US assets HMM currently reviewing the fit and feasibility of an asset purchase
Rising bunkers to hit liner operators in third quarter Box lines expected to suffer $1.2bn cash flow blow from higher costs
Non-payment of hire: a clear message to charterers A UK Court of Appeal ruling brings welcome clarity for shipowners facing defaults in time charter hire
Rosneft and Trafigura buy Indian oil refinery and port assets for $13bn Takeover of Essar Oil includes $2bn for Vadinar oil port in western India and paves way for Russia-India oil flows
Nakilat nine-month net profit weighed by operating expenses Higher operating expenses outweigh rise in total revenue
Profit slumps 91% at Cosco's specialist shipping business Weaker performance comes amid dismal shipping market
Oldendorff buys eight secondhand dry bulk carriers Company has acquired 17 secondhand bulk carriers for delivery over 2016 and 2017 over the past 12 months
Maritime UK outlines opt-out clause in Brexit tonnage tax blueprint 'Menu-based' scheme would let owners pick and chose tonnage tax details
Ocean Yield terminates vessel order at Sinopacific yard Move comes amid Sinopacific's bankrutpcy proceedings
CSSC Offshore & Marine Engineering Co deputy manager quits Chinese shipbuilder has yet to win any new commercial vessel orders this year, Clarksons data shows.
K Line makes adjustments on North Vietnam ro-ro service route One of the changes includes an additional sailing per month
Golar Power deal could deliver value boost Analysts say details of first project announcement for Golar LNG joint venture are better than expected.
WWS hands PSVs control to Tschudi Norwegian owner is left with four idle ships as Dutch firm gets commercial management of two units.
Clarksons surveys depth of downturn Shipbroking giant's rate index hit record low in August amid some of toughest conditions since financial crisis.
Paragon pushes back bond swap deadline New York-listed bulker owner taking more time to finish debt-for-equity exchange after just 11.3% agree to sign up.
STX axe adds to Frontline firepower Analysts say Fredriksen-backed owner now has over $300m to support fleet growth.
Clarksons surveys depth of market downturn Shipbroking giant's rate index hit record low in August amid some of toughest conditions since financial crisis.
VLCC prices tick back to two-year lows Pending Metrostar sale to Alafouzos would be lowest price paid for a resale VLCC since 2014, data shows.
Sewol salvage could drag on into 2017 Poor visibility could see massive project exceed target deadline by more than six months.
Polarcus teams with TGS on seismic surveys Oslo-listed company will jointly develop 3D projects aiming at higher vessel utilization.
Bakkafrost buys Havila supply ship Restructuring Norwegian owner offloads 2005-built ship into the Faroe Islands.
Golar Power strikes first big charter deal Joint venture of Golar LNG and Stonepeak locks FSRU into new 25-year agreement in Brazil.
Varada VLCC going under the hammer Veteran ABG-controlled tanker put up for sale again in Hong Kong.
Hyundai Heavy in management reshuffle Seoul-listed shipbuilder reveals a shake-up in key leadership positions.
Gotland sells share in products tanker Swedish owner offloads another vessel as profit falls.
Oldendorff adds to bulker shopping spree German owner has now bought 17 secondhand vessels in just 12 months.
Lindsay Blee expands to Colombia Marine fuel broker starts up new partnership with Cartagena-based CI Petrobunkers.
Laid-up ro-pax sold at auction Polish-built Adriatica I leaves Italian port after three years.
Cocaine found in box bound for PIL ship Mexican authorities seize more than 100 kilos of drugs hidden in container with electric showers.
MMA Offshore shifts West African ships Accommodation barge also sold as Australian owner copes with downturn.
Liner giants in toll talks with Suez Canal Maersk Line, CMA CGM and MSC are reportedly negotiating paying fees in advance to get a discount.
Wilson Sons clinches $34m loan Brazilian offshore player borrows cash from Santander to buy cranes.
Radiant snares second LPG carrier order Bangladesh shipyard to construct another gas ship for Omera Petroleum.
Hanjin denies contacting Maersk, MSC over assets sale Korean owner says it did not reach out to overseas lines regarding the disposal of its Asia-US business.
Safaei replaced at NITC Surprise shake-up in senior management at Iranian tanker giant
Pacific Princess prangs Nice breakwater Cruise ship reportedly suffers ingress of water after hitting embankment in French tourist city.
Nakilat sees minor fall in third quarter profit Long-term charters help world's largest shipper of LNG ride out current market turmoil.
Ensco takes four jack-ups out of lay-up US driller's ability to reactive drilling rigs a sign that the market "is primed for recovery".
Port of Zeebrugge to expand ro-ro capacity The Port of Zeebrugge has plans to grow its automotive volumes by as much as 40 percent, according to a statement from the port authority. ...
Freight Rate Roundup: Maersk, CMA CGM and Hapag-Lloyd Ocean carriers Maersk Line, CMA CGM and Hapag-Lloyd issued freight rate increases on various trades. Maersk Line announced FAK rate increa...
Airlines ground fire-prone Samsung smartphones The Federal Aviation Administration (FAA) and the Pipeline and Hazardous Materials Safety Administration put in place an emergency order Oc...
ITC begins accepting MTB petitions In preparation for the next miscellaneous tariff bill before Congress, the U.S. International Trade Commission (ITC) has begun accepting pe...
Executive Moves: The Greenbrier Cos. and an international trade law firm Sandler, Travis & Rosenberg (ST&R) has hired Steven Brotherton , a respected authority on export controls and economic sanctions, t...
Bunker prices rise in Peru, Ecuador amid delays, cost increases High sulfur bunker fuel prices in Peru and Ecuador climbed on Monday as the result of unexpected production delays and pricing decisions at state-run refineries
Oil complex weakens as more Iranian crude set to hit market NYMEX November crude settled 41 cents lower at $49.94/b. ICE December Brent settled down 43 cents at $51.52/b
ANALYSIS: Run cuts likely to spur US crude build, product draws again Potential refined product draws will support the oil complex at a time when upward momentum from a tentative OPEC supply agreement has appeared to run its course.
European Q3 indicator refining margin falls to two-year low: Total Total, Europe's biggest refiner, said the average Q3 margins indicator fell to $25.5/mt ($3.50/b), down from $35/mt in Q2 and $54.8/mt in the third quarter of 2015
Maritime crime declined across world's key hot spots in Q3: Dryad Piracy incidents in South East Asia, with the exception of Sulu Sea, are at their lowest since 2009
Bad weather halts loading at Novorossiisk's Sheskharis oil terminal Sources said bunkering operations are also likely to have been affected by the halt to loadings
External: Praxis Energy Agents S.A
Bunker broker Lindsay Blee teams up with Colombian partner Bunker fuel brokerage Lindsay Blee has signed a marketing and distribution deal with Colombia-based CI Petrobunkers
External: Wired Bunkering
External: Marine Bunkering(Rotterdam)B.V.
FUTURES: Oil prices rangebound on US rig count, stable dollar
FUTURES: Oil prices a tad lower but hold above $50/b
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
