Panamax bulker earnings rise and shine on tight North Atlantic tonnage China's coal imports could be near-term worries, says Banchero Costa
UK Ship Register faces moment of truth London International Shipping Week marks two years since call for major reforms
Weak tanker rates hit OSG and International Seaways International Seaways upsizes a term loan facility to $550m for fleet growth
Euroseas cuts second-quarter losses Dry bulk and feeder container owner voices 'guarded' optimism on stronger markets
MISC sees profit halved as revenues from tankers decline While revenues from LNG and offshore rose, those from the petroleum and heavy engineering segments fell
New ship registries fighting a vicious circle Port state control blacklists shut out competition and fail to provide any support for new and developing registries
Owners turning to Japanese leasing structure for funding Previously obscure 'JOLCOs' can offer 100% finance at interest rates below bank lending for 70% mortgage deals
Compliance with emissions regulation lies in the cloud Getting to grips with IMO's global cap on sulphur might be best achieved through intelligent fuel management software
Tidewater suffers $524m loss Company offloaded $1.6bn in debt through costly restructuring process
AP Moller Capital sets $1bn target for new Africa infrastructure fund Maersk Group owner will look for African infrastructure projects that will help raise living standards
Star Bulk almost leaves dry bulk woes behind Petros Pappas-led company narrows second-quarter loss as it primes for a return to profitability
Panama approves new canal tolls to attract large boxships Costs for gas carriers set to increase as proposal made in June is approved with minor changes
DHT profit dives 86% amid crude tanker slump Company has 19 of its 26 on-water VLCCs exposed to spot market
Fleet growth smothers opportunities for product tankers The product tanker market in three graphs: supply-demand picture puts LRs at disadvantage but oversupply also plagues MRs
Dry bulk shipping may be hit by Beijing's efforts to cut coal imports The country's inbound cargo flows are expected to slow amid restrictive policies
Daily Briefing
Hong Kong exempts vessel sharing arrangements No exemption for voluntary discussion agreements between shipping lines.
Ecochlor names new chief executive officer US-based ballast water gear maker goes for maritime industry veteran as new leader.
Restructuring pushes Wilhelmsen into loss But operating profit rises as Norwegian shipping group benefits from new cost structure.
Seaways focuses on 'ones and twos' for tanker deals New York-listed owner says opportunities are out there, but sellers are not distressed.
Continental's elderly clear-out continues Continental Shipping Lines, the Singapore-based shipowning arm of Myanmar owner Captain U Ko Ko Htoo, has sold another two feeder-sized containerships for recycling. The 1,450-teu boxships Innwa Star and Pinya Star (both built 1995), which brokers report were sold "as is" in Singapore for $375 per ldt, or $2.55m per ship, are now bound for Alang in India. The ships are the latest to go in a clear
Nordic American fixes two suezmaxes to Shell New York-listed suezmax specialist also responds to concerns about viability of cash dividend.
DHT Holdings keeps eyes open for the right tanker deal Executives less punchy on potential purchases and will take their time to tie-up newly arrived tankers.
Deugro breakbulk shipping arm brings in heavy-lift trio Project cargo ship operator Dship Carriers to run MPPs on trades including Asia, the Middle East and Europe.
Law firms beef up Marshall Islands maritime practices Norton Rose and Cozen O'Connor add to capacity to represent clients in isolated atoll with growing ship registry.
RCCL chiefs rake in cash from shares sales Royal Caribbean Cruises Ltd (RCCL) chief executive Richard Fain sold stock worth $24.4m after after the company reported strong second-quarter results and anticipated a "sensational year". He offloaded 210,706 shares on 2 August at a weighted average price of $115.83. The Securities and Exchange Commission (SEC) filing notes that the shares were owned by Monument Capital Corp as nominee for vari
CLC falls further as it eyes tanker buy Newly listed Philippines owner reveals more of its acquisition plans post-IPO.
Seaways sees results slip below estimates But liquidity remains strong amid ongoing fleet renewal efforts; MR tanker sold off.
VLGCs starting to store gas off Singapore Traders said to be waiting for right time to offload fuel at better prices.
OSG reports smaller profit amid low rates Tanker owner takes a hit due to tough market but manages to produce healthy cash flows.
AP Moller launches potential $1bn African infrastructure fund Project with three pension funds is the first for new investment arm AP Moller Capital.
Kleven Verft finds buyer for unwanted MPSV Norwegian yard finally sells hull 379 after finishing it in 2015 for Malaysian owner unable to complete the deal.
Hong Kong grants antitrust exemption to VSAs But competition body turns down boxship owners' bid to allow discussion groups.
Toei Reefer cuts first quarter loss Japanese owner survives lower revenue to reduce red ink.
Mercator tipped to offload $300m of non-core assets Indian owner wants cash from mining disposals to take over Dredging Corp of India with KKR, Blackstone.
Wilson Sons makes less but revenue rises Brazilian shipping group reports smaller profit but, on a more positive note, turnover and Ebitda improve.
SBM Offshore profit jumps as fleet grows FPSO owner raises annual guidance as three new units boost performance.
WWL nails down $50m in post-merger savings Oslo-listed vehicle carrier owner says remainder of cost cuts will come though by 2019.
Algoma pushes up profit as bulkers boom Canadian owner's revenue also stronger in second quarter in better markets.
MISC profit declines but LNG arm holds firm Malaysian owner makes less in the second quarter but its operating profit rises by 43.4%.
Star Bulk loss deeper than forecast Petros Pappas-led owner spends another quarter in the red but signs two new loans.
Tidewater first quarter loss hits $524m US OSV owner hit by $313m charge after successful Chapter 11 restructuring.
Port of Oakland sees record import volumes in July The Port of Oakland last month set an all-time record for import cargo, handling the equivalent of nearly 84,500 loaded 20-foot import cont...
TNT Express still struggling from June cyber attack TNT Express is still struggling to recover from the June cyber attack, despite reports that it is "nearly back on its feet." Owned by FedE...
Saudi Aramco awards marine complex development contract The consortium including Saudi Archirodon Company and Huta Hegerfeld AG Saudia Co. has been awarded a contract by Saudi Aramco for dredging...
Hong Kong's Competition Commission issues BEO for liner shipping VSAs Hong Kong's Competition Commission issued a block exemption order (BEO) on Tuesday under section 15 of the Competition Ordinance for vessel...
FedEx implementing holiday surcharge due to 'old habits' FedEx is implementing Christmas surcharges to penalize "old habits," saidtransport consultant Satish Jindel, president of SJ Consulting Gro...
Atlas Air Holdings posts 17% Q2 earnings growth Atlas Air Worldwide Holdings, Inc. postedan income from continuing operations, net of taxes, of $39 million for the second quarter of 2017,...
Panama officially approves canal toll modifications The Cabinet Council of the Republic of Panama on Aug. 8 officially approved a proposal to modify the Panama Canal tolls structure, followin...
Port Manatee sets new annual volume record in just 10 months Port Manatee, the closest U.S. deepwater seaport to the Panama Canal, still has two months to go in its current fiscal year, but has alread...
E-commerce exec pleads guilty to price-fixing The Justice Department said Azim Makanojiva, president of e-commerce firm Zaappaaz, pleaded guilty to a one-count criminal violation of the...
US DATA: EIA says US fuel oil production, imports, and inventories up week on week Total domestic fuel oil stockpiles rose 175,000 barrels, to 33.905 million barrels, total imports increased 214,000 b/d or 184% week on week, and US fuel oil production rose 3% to 401,000 b/d, the data showed.
US DATA: Crude, gasoline stocks diverge as refinery runs soar US crude stocks fell last week by more than analysts had expected after refinery runs set an all-time high, while gasoline stocks saw a surprise build, Energy Information Administration data showed Wednesday.
Jones Act tankers could benefit from change in market dynamics: OSG CEO The Jones Act tanker segment remains highly sensitive to supply and demand but any change in dynamics could provide positive outcomes for OSG, CEO Samuel Norton said during a conference call Wednesday to discuss the company's second-quarter results.
Panama approves new Neopanamax tolls, increasing LPG fees 30% Panama's Cabinet Council on Tuesday approved a Neopanamax toll restructuring that will increase fees on LPG carriers by almost 30% come October.
Low VLCC freight rates unlikely to boost ARA fuel oil arbitrage east: trade Deliveries of high sulfur fuel oil by VLCC from the Amsterdam-Rotterdam-Antwerp region to Singapore are unlikely to benefit from record low freight rates because of persistently weak Singapore bunker demand, traders said this week.
NYMEX crude stays below $50/b after US gasoline build The oil complex was little changed Wednesday, despite a larger-than-expected draw in US crude stocks, as a surprise build in gasoline inventories took attention away from an otherwise bullish set of data.
Par Petroleum upgradeing Hawaii refinery ahead of IMO spec change Par Petroleum is readying its Hawaii refinery to meet cleaner fuel specifications, adding a diesel hydrotreater to increase overall throughput and the production of high value ULSD and jet, and cutting back the percentage of fuel oil produced, CEO Joseph Israel said.
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