New boxship orders -will keep a lid on freight rates- Future deliveries leave little room to address fundamental ocean overcapacity, forcing lines to seek out cost savings, says BIMCO
Flex LNG takes delivery of first vessel amid bullish market mood Second ship is due on Thursday as spot rates hover around four-year high
Daily Briefing Compensation from oil spills is often covered by the International Convention on Civil Liability for Oil Pollution Damage, but it's unclear whether...
Hayes leaves maritime role in UK government reshuffle UK shipping and maritime portfolio to be decided as former Universities Minister Jo Johnson replaces John Hayes
Global box traffic picked up in November Latest CTS figures show 3.7% volume jump during penultimate month of 2017, while full-year growth remains on course to come...
Supramax bulker rates supported in Asia Steady product flows out of southeast Asia and congestion at Indonesia-s coal ports help supramax rate increases in the Pacific...
Outlook improves for merged carriers Top European lines to see boost from M&A activity as market improves
US imports set to post 7% growth for 2017 amid higher retail industry sales Higher wages, improved employment rates and consumer confidence fuelled demand for goods, says NRF
DP World on track to post 10% gross volume growth for 2017 Port operator invested more than $1bn to diversify its business across the supply chain and develop innovative technologies to date
Mixed signals from the demolition market amid latest capesize sale Concerns linger as to whether the demolition market can sustain prices about $500 per ldt
Port state control inspections focus on vessel risk profiles Multiple factors that influence the vessel-s or ship operator-s risk profile should be taken into account, says maritime safety consultancy...
STX Heavy to raise $4.28bn through share offering Offering will involve debt-for-equity swaps with company's 46 creditors
Cosco Shipping confirms Wan Min's departure Listed subsidiary announced chairman-s resignation with no replacement named yet
Risk of burning tanker Sanchi sinking is low, says NITC Iranian state tanker operator says intensity of the blaze has been lessened amid continued fire suppression efforts
Human error behind most vessel auxiliary engine damage cases Majority of auxiliary engine damage occurs almost immediately after maintenance work is completed, according to report by The Swedish Club
HSH Nordbank confirms feedership loan sale Bank sells JR Shipping debts to UK-based fund ahead of privatisation
GasLog Partners plans share sale Company is plotting a sale of stock to boost funds for fleet expansion; GasLog chairman Peter Livanos plans to buy $5m in shares.
CMA CGM taps new president for Americas Long serving CMA CGM employee in Asia makes move as Americas chief takes over China operations.
India frees Greek ship seized for casualty Dry bulk carrier was alleged to be involved in a collision at sea with a local fishing boat.
Kreuz Subsea lands five-vessel contract Singapore OSV owner says L&T deal is its biggest yet.
Workers reject Hyundai Heavy wage deal Vote could resurrect row over pay at Korean shipbuilder.
KfW finances $61m Arklow dry order German lender teams with DekaBank to fund bulkers at Ferus Smit.
DNB Markets launches MPC Container with buy rating Analysts see upturn in both asset values and fright rates aiding boxship owner.
Sjolie signs on at Ship Finance International Global Shipsholding 2 managing director set for new post at Fredriksen company.
SEA\LNG signs up Societe Generale LNG fuelling group nets first finance house.
Buss Group brings in Tegeler as MD German owner appoints Tilly Baker man to work with managing partner Johann Killinger.
Wisdom Marine earnings plunge 68% Taiwanese bulker owner sees profit fall in 2017 despite 10% revenue rise.
Teekay and Wartsila unveil new VOC tankers Shuttle vessels will run on LNG and gas evaporating from tanks during loading.
Steensland closes offer with 97% of Solvang Chairman and major shareholder will delist VLGC owner.
Japan heavyweights buy into Modec FPSO MOL, MES, Mitsui and Marubeni take stake in Petrobras' new unit.
BW Offshore investor dumps $36m share block Tanker owner Fredrik Mohn looks to have sold out of FPSO company.
Eidesvik Offshore launches second share sale Owner tries to raise another $4m as part of refinancing.
Pangaea Logistics files $100m shelf Major shareholders, including chief executive officer, set to also offload 34.5m common shares.
NITC downplays Sanchi explosion risk Tanker owner says risk of damaged suezmax tanker Sanchi sinking is low.
Schulte Group snaps up LNG specialist Pronav Traditional ship owner and ship manager says acquisition strengthens its gas business.
LA city attorney sues port trucking companies, alleges driver exploitation The office of Los Angeles City Attorney Mike Feuer has filed lawsuits against three Port of Los Angeles drayage trucking companies, allegin...
AgTC sends letter to POLB supporting proposed on-dock rail expansion The Agriculture Transportation Coalition-s (AgTC) executive director has sent a letter to the Port of Long Beach-s Board of Harbor Commissi...
Renou takes helm of CMA CGM America French liner carrier CMA CGM Group has appointed Ludovic Renou to president of CMA CGM America, based in Norfolk, Va. He succeeds Marc Bou...
Owner of California shipping company guilty of hazardous materials violations The owner of a San Francisco Bay Area shipping company has pleaded guilty to illegally transporting hazardous materials and failing to prop...
FAA names Elwell acting administrator U.S. Transportation Secretary Elaine Chao has appointed Federal Aviation Administration (FAA) Deputy Administrator Daniel Elwell to serve a...
The Swedish Club: Containerships have more auxiliary engine claims Diversified mutual marine insurance company The Swedish Club says that an investigation into auxiliary engine damage on ships has revealed ...
Jim Johnston, OOIDA president, dies The Owner-Operator Independent Drivers Association (OOIDA) longtime president, Jim Johnston, died Monday after a year-long battle with lun...
State Department designates global terrorists The State Department has added Abukar Ali Adan, Muhammad al-Ghazali and Wanas al-Faqih to its list of Specially Designated Global Terrorist...
DP World invests over $1b in capital expenditures in 2017 Port operator DP World invested over $1 billion in capital expenditures in 2017 through acquisitions, operational expansion and facility de...
Russian Northern Sea Route to gain momentum on Arctic output rise The landmark launch of the Yamal LNG project as well as other oil and gas projects in the Russian Arctic are set to boost commercial navigation via the icy waters of the Northern Sea Route.
Venezuelan oil production plummets amid chaos and industry defections Staggering debt, crumbling equipment and infrastructure, and mass worker resignations, have set the oil industry in Venezuela back decades.
OPEC oil output to average 32.68 mil b/d in 2018, 32.95 mil b/d in 2019: US EIA US oil production will average a record-setting 10.85 million b/d in 2019, an increase of 1.55 million b/d compared with 2017, despite expected increases of just $6.64/b and $7.28/b in WTI and Brent prices over that time period, the US Energy Information Administration said Tuesday.
Brent to average $59.74/b in 2018, $61.43/b in 2019: US EIA US oil production will average a record-setting 10.85 million b/d in 2019, an increase of 1.55 million b/d compared with 2017, despite expected increases of just $6.64/b and $7.28/b in WTI and Brent prices over that time period, the US Energy Information Administration said Tuesday.
Turkey's Energy Petrol grows 2017 bunker sales 10% Turkish bunkering company Energy Petrol grew its bunker sales 10% year on year to 410,000 mt, the company said Tuesday.
No 'large-scale' spill from Sanchi oil tanker: Xinhua No "large-scale oil spill" has been found in waters close to the stricken Iranian oil tanker which collided with a bulk freighter off eastern China at the weekend, the country's official Xinhua news agency reported Tuesday.
External: Praxis Energy Agents S.A
External: Wired Bunkering
FUTURES: Crude remains higher on talk of supply constraints Analysts surveyed Monday by S&P Global Platts were expecting US crude stocks to fall 3.5 million barrels for the week ended January 5.
S Korea to lend financial support for LNG-fueled newbuilds as IMO 2020 sulfur cap rule looms S Korea's latest financial stimulus will support ship builders and promote use of LNG as a marine fuel.
FEATURE: Analysts skeptical of Pemex crude processing forecast "Any Mexican refinery is a wild card as Pemex's facilities are aging and the lack of resources is evident," oil analysis director S&P Global Platts Analytics,Lenny Rodriguez, said.
TANKERS: Increasing US crude exports important swing factor for Aframax freight "People buy the barrels and come into the market, but these are not scheduled liftings like Mexico, so you don't know what to expect," a source said.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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