Slowing Chinese teapots demand threatens tanker rates Independent players are to hit the brakes in crude buying this quarter
Panamax bulkers reach $13,000 per day as congestion builds up off east Australia Spot fixture seen at $25,000 per day from Brazil to China for iron ore shipment
Let's get personal over pay Words are wind. It is action we need over the UK's appalling gender pay gap, not more useless chatter
Over one third of Southeast Asia's abducted seafarers still missing ReCAAP continues to advise ships to re-route or exercise enhanced vigilance
Yang Ming to add Southeast Asia-Australia service New rotation will be carried out by eight midsize ships via a slot exchange co-operation
VLCC earnings gain another $3,700 in one session Owners turn even more bullish as Saudi and Iraqi cargoes for early May loading emerge
CargoSphere boss says digital buzz kick-started by Maersk Cloud-based freight rate platform sees interest from container lines for first time in 18 years of business
Hyundai Heavy Industries reports strong recovery in new orders South Korean shipbuilder sees market bottom and says a recovery is on the way
Innovate to survive, advises Stena Bulk Weak chemical and product tanker freight rates prompt action to stay ahead of the pack
Analysts go 'all-in' on dry cargo High hopes abound for the dry bulk sector, even if analysts cannot agree on why
US maritime group backs plan to tighten Jones Act regime Proposal by Customs and Border Protection aims to create more American jobs and reinforce national security
Bahri plans to switch VLCC fleet to the Saudi flag by end-2017 Nineteen vessels out of 37 are already registered
Euronav and ISM prepare to refloat tanker grounded off Indonesia Diving survey is currently in progress
Port of Antwerp's overall cargo volumes lifted by box throughput Further gains in the first quarter offset by lower liquid bulk figures
Seanergy Maritime charters out capesize bulker Employment could bring in up to $10m in net revenue
DSME head pledges to improve management and business processes Remarks come after bondholders accept South Korean shipbuilder's debt restructuring terms
FSL Trust aframax tanker employed under revenue sharing deal with Teekay Tanker deal welcome following auditor scrutiny and executive departures from trust
Japan energy giant Jera gears up for US cargoes Incoming player says it is considering trading its destination-free cargoes from 2018 and is open to working with all shipowners on future business
Bimco cautions dry bulk optimism but positive on liner consolidation Regional manager for Singapore says association is stepping up its activities in new outpost to reflect membership and development in the region
Singapore Chamber broadens horizon The Singapore Chamber of Maritime Arbitration (SCMA), which is well established with charter parties on Bimco forms, is keen to broaden the scope of its offerings and geography. Business development manager Patricia Chua says one of her major tasks is to educate the maritime community to be more specific when nominating Singapore as the seat of arbitration in contracts. The SCMA's attitude diffe
Arbitration expects boost from third-party funding Arbitration in Singapore is expected to be boosted by the advent of third-party funding. Parliament has passed an act permitting the practice, and maritime lawyers expect it to come into force in the next few months. "There have been cries for this, so I think it will take off," said maritime lawyer Felicia Tan of Incisive Law, a local firm that operates in partnership with Ince & Co. Third-par
Arbitration gains ground in Singapore Cases on rise from six recorded in 2009 to 46 last year
Ince & Co Singapore expands into infrastructure Infrastructure development in the frontier markets of Asia has led to greater demand for legal expertise in the field. Law firm Ince & Co has begun targeting this market out of its Singapore office with the appointment of an expert in projects and maritime infrastructure. Transactional lawyer Ton van den Bosch has joined after several years as general counsel for Philippines-based International
Doyen of Singapore maritime law busy as ever When Dato Jude Benny - arguably Singapore's most high-profile shipping lawyer - announced in 2013 that he was stepping down after 25 years at the helm of Joseph Tan Jude Benny (JTJB), many people thought the move was a precursor to retirement. Nothing could have been further from the truth. "Rumours of my impending retirement have been greatly exaggerated," said the legendary lawyer when TradeWi
Debt-collecting exercises run law firms off their feet Perception that lawyers make money when times are tough appears to be holding true in Singapore
Shipmanager Bernhard Schulte sets sights on offshore sector One of the worst-performing areas of shipping could turn out to be a revenue generator with its sights set on FPSO and FSRU projects
Oil and gas downturn hits demand for project cargoships Wind energy sector fills some of the void left in Asia by struggling offshore industry
Golden Stena Weco eyes expansion in chem-tank trades Singapore-based player sees opportunities to acquire tonnage if sluggish freight market and vessel oversupply persist
Sembcorp plans ahead with skills upgrade and acquisitions While Sembcorp Marine has been consolidating its capacity, it is making use of the downturn to secure a stronger future by boosting its capabilities, especially on the gas side. As part of a workforce consolidation exercise, Sembcorp Marine has been reallocating excess manpower from drilling to non-drilling work. Engineering capabilities for new sectors it is branching into are being enhanced wit
Sembcorp Marine readies for market upturn Singaporean shipyards have been in business for decades so are no strangers to market volatility. They face a prolonged downturn, but remain confident that business will improve in the medium to long term. Sembcorp Marine president and chief executive Wong Weng Sun believes that oil prices will eventually stabilise at a range that can support the growth of offshore projects. He points out that de
Shipyards retrench in face of offshore woes Singapore's two largest shipyard groups - Sembcorp Marine and Keppel Corp - have switched to survival mode as offshore downturn continues
Players in local markets face tighter conditions Regional areas served by Singapore's offshore hub have been raising the bar for shipowners, by strengthening cabotage rules to protect their own oil service companies. The island nation lacks its own offshore fields but this has not stopped it from building up the area's largest fleet of offshore support vessels (OSVs), with 449 ships flying the Singaporean flag. Singapore, and Southeast Asia in
Crisis batters OSV hub Dollar output of Singapore's offshore sector has almost halved over the past two years and the outlook remains bleak
Q&A with CMA CGM veteran and APL chief executive Nicolas Sartini discusses the challenges and changes implemented at Neptune Orient Lines' liner arm APL since taking the helm
Lion City still roars despite setbacks Protracted market downturn has done little to dampen Singapore's vibrancy as a leading global shipping hub with glimmers of optimism starting to emerge in some sectors
Excelerate tightlipped as sales talk continues to swirl There was only one question everyone wanted to ask the Excelerate Energy team on its stand at Gastech this month. Who is going to buy the company and when? Talk on the likely sale of the company by its loan shareholder - oil and gas magnate George Kaiser - started in 2015. But, in September last year, things got a little more serious when JP Morgan was appointed to oversee the process. Since th
MPC Container Ships 'favours' Oslo for full listing Executives say new boxship asset play company will join major exchange this year after $100m equity raise opens door to capital markets
Shipping employers group claims success in piracy pay debate IMCA says groups demonstrated that there is no need for more financial security for wages during hijackings.
John Fredriksen drops legal bombshell in DHT takeover twist Frontline takes legal action to blow up VLCC deal between two owners and force shareholders to consider its own takeover pitch.
Diana Shipping linked to Foremost bulkers Two post-panamaxes from Chao family-controlled company said to be part of Diana purchase.
Solvang says Clipper offer not a fair value Board of Oslo-listed gasship owner weighs in on tender offer made by Steensland family.
Algoma and Nova seal short sea joint venture A strategic partnership between Swiss and Canadian owners is ready to go to business.
DryShips buys additional kamsarmax Former United Ocean ship believed to be the latest heading for DryShips stable.
Ferry group 2Go pushes up 2016 earnings Philippines ro-pax owner benefits from logistics growth and cost efficiencies.
Vigor buys drydock for $20m US shipbuilder to tow new facility from South Korea.
Siem Offshore books extra $60m loss Owner updates annual figure due to currency hedging in Brazil.
Doubt cast over Fincantieri's STX takeover Talk of a challenge as Fincantieri chief executive Giuseppe Bono visits Saint Nazaire today
Patient Diana wins applause for share sale Analyst says $70m equity issue to back triple bulker buy has been done at above net asset value.
Global Ports Holding set for London listing Expanding Turkish cruise terminal operator eyes further expansion through $250m IPO.
Gotland takes full control of tanker trio Swedish owner buys out partner Laurin Maritime's 50% stake in MRs.
Swiber unable to redeem $114.5m bond issue Court-managed owner misses date for Singapore dollar issue.
Essar Shipping cargo volume jumps 22% Indian bulker and VLCC player benefits from doubling of coastal business.
Algoma raises $20m from property sales Canadian owner offloads office buildings and land to raise money for fleet renewal.
Seafarers missing after Black Sea sinking Ukraine-owned general cargoship splits in two 14 nautical miles off Russian coast.
Korea Line books LNG pair at Samsung Contract marks a change from the owner's previous preference in the LNG market.
Russian region seeks two ferries Arkhangelsk wants new additions to fleet this year.
AS survey on ocean carrier alliance changes The consolidation from four ocean carrier alliances on major east-west trades into just three is sure to have a huge impact on the shipping ...
AMP: Domestic shipping industry supports stricter Jones act enforcement The American Maritime Partnership (AMP), the domestic shipping industry's primary trade organization, said Tuesday it strongly supports U.S...
ATA: Truck tonnage index slips again in March Domestic truck tonnage fell for the second straight month in March 2017, slipping 1 percent compared with the previous month, following a r...
Sen. Schumer calls for crude stabilization mandate following CSX derailment U.S. Senate Minority Leader Charles Schumer, D-N.Y., is calling on the Departments of Transportation (USDOT) and Department of Energy (DOE)...
Siemens to launch global logistics headquarters in Dubai German engineering and technology conglomerate Siemens plans to launch a global logistics headquarters in Dubai, including itsportfolio for...
ACI: Airfreight volumes soar in February Global airport cargo volumes surged 7.8 percent in February from a year prior,according to Airports Council International (ACI). The trade...
Cathay boosts cargo volumes in March Hong Kong-based airline Cathay Pacific and its wholly-owned subsidiary, Cathay Dragon, recorded a combined 15.4 percent year-over-year incr...
IMF increases 2017 global growth forecast The International Monetary Fund (IMF) is raising its outlook for the worldwide economy in the coming year. The IMF yesterday released its ...
Oil falls sharply after data shows US gasoline build NYMEX May crude settled $1.97 lower Wednesday at $50.44/b. ICE June Brent settled down $1.96 at $52.93/b.
US DATA: EIA says residual fuel oil stocks at lowest level since February Domestic stocks ended the week at 38.784 million barrels, a draw of 1.361 million barrels from last week.
HSFO Med-North jumps to three-week high despite feeble Med market The spread hit minus $3.00/mt late Tuesday, a rise of $3.50 on the day, after reaching lows of minus $7.75/mt last week.
Novorossiisk halts loading operations amid storm warning: port authority The Russian port of Novorossiisk has issued a storm warning and halted loading and mooring operations at its Sheskharis oil terminal at 9 am local time (0700 GMT),
REFINERY NEWS UPDATE: South Africa's Sapref to undergo maintenance from May 1
External: Wired Bunkering
TRADER NOTE: Fuel testing company VPS hires business development manager Fuel testing company Veritas Petroleum Services (VPS) has hired Paul Parkinson as business development manager for oil condition monitoring
Nordic Marine Oil adds new bunker barge at Skagen The company has added the 3,824 dwt barge M/T Ristna to its fleet at the northern Danish port and the vessel is now operational
TRADER NOTE: Executive director of fuel oil trading leaves Castleton Singapore Grimm had been with the company since 2012.
Royal Vopak expands terminal storage at Port of Santos, Brazil The expansion will add 16 new tanks with a capacity of 61,000 cu m to the terminal.
REFINERY NEWS: Canadian fuel retailer buys Chevron's 57,000 b/d refinery in BC Alberta-based Parkland Fuel Corp. said late Tuesday it has signed a deal with Chevron Canada to buy the latter's 57,000 b/d refinery at Burnaby, British Columbia.
OPEC hopes to convince more non-OPEC producers to cooperate in market management: Barkindo All eyes on May 25 ministerial meeting in Vienna
UAE talks up OPEC compliance based on own figures, says further cuts ahead - UAE to average over 140,000 b/d in H1 cuts - Minister dismisses need for ADNOC IPO - UAE developing spare output capacity
TANKERS: Port fees at Saudi Ras Tanura, Khafji to rise from May The increase in the charge will see a VLCC pay $85,000 from the current rate of $30,000, according to a VLCC shipbroker.
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