Algoma takes delivery of 2010-built product tanker St. Catharines, Ontario, headquartered Algoma Tankers Limited, an operating unit of Algoma Central Corporation (TSX: ALC), reports that it has taken delivery of the 16,500 DWT Algoterra, a 2010-built product tanker in
ClassNK spells out its basic approach to cyber security Classification society ClassNK has outlined its basic approach to ensuring onboard cyber security for ships in the ClassNK Cyber Security Approach, released alongside its Guidelines for Designing Cyber Security Onboard Ships for
Enhanced Bio-UV BWTS cuts required holding time France's Bio-UV Group has successfully tested an enhanced Bio-Sea ballast water treatment system designed to reduce the time that treated water has to be held onboard ship prior to discharge overboard. Shipowners
Kongsberg completes Rolls-Royce Commercial Marine acquisition Following European Commission approval, Norway's Kongsberg Gruppen has today completed the acquisition of Rolls-Royce Commercial Marine (RRCM). Officially part of Kongsberg Maritime, RRCM will operate under the Kongsberg brand and the Kongsberg
DMT Marine Equipment appoints U.S. sales partner Galati, Romania, headquartered DMT Marine Equipment has appointed Kurt W. Bullard as its U.S. partner in sales and after-sales. Dutch-owned DMT specializes in the design and manufacture of heavy-duty marine winches and
Wärtsilä expands its underwater servicing capabilities Wärtsilä's Trident subsidiary has extended its underwater-related servicing capabilities with the opening of a new diving center in Fujairah, United Arab Emirates. This expansion into a major global shipping region will enhance
Bugbee predicts sulphur cap chaos Scorpio Bulkers president says fuel price spread and scrubber payback may be higher than generally expected
Cosco Shipping Holdings executive says scale is key for carriers Container shipping and port arm reported more than $180m in net profits for 2018, having received a large amount of...
Natural disasters continue to generate marine insurance losses Hurricane Florence and Typhoons Mangkhut and Jebi were singled out as resulting in major marine claims last year, while Hurricanes...
MPC Container Ships in share buy-back programme The 2017 start-up remains as yet unprofitable, but it has been gobbling up common shares
Carriers' capacity discipline keeps rates in check Supply cuts on the transpacific are already having an impact on the spot market, with rates to the US west...
Vitol chooses TMS Cardiff Gas for first long LNG charter Energy and commodities trader signs 10-year charter deal leaving only one of Greek owner's 11 newbuildings uncovered
IMO moves against fraudulent ship registrations Responsibility for monitoring and certifying ship registries shifts to individual governments
Japanese lines turn towards offshore in 2019 Setting out priorities for the year, Mr Ikeda highlighted LNG fuel, data-driven autonomous vessels and workplace reforms as key areas...
Box shipping would remain competitive with further consolidation Fears of reduced competition on the majority of trades are unwarranted, even if further consolidation occurs
Joining China's economic drive could unlock Italy's port potential As part of a $2.8bn investment pledge under its memorandum of understanding with Italy, China will look to enhance the...
DSV agrees to buy Panalpina for $4.6bn Panalpina board advises shareholders to accept improved offer from DSV that will create the world's fourth-largest freight logistics company with...
Daily Briefing US urges marine insurers to adopt North Korea AIS switch-off clauses | Chinese rival challenges Singapore for bunkering business |...
Coal to gas switch - another bitter pill for dry bulk owners In addition to iron ore trade contracting in 2019, Stifel expects thermal coal trade, which makes up about 19% of...
China Merchants Port sees Chinese business 'squeezed' Global container trade slowed while Beijing stepped up efforts to reduce port charges from the second half of last year...
New York looks to bring tech innovators into maritime Data providers, academia, vessel managers and investors sponsored an event seeking the outside experts who can tackle the maritime industry's...
New Jersey pharma firm launches lawsuit over spilled containers The lost medication was valued at $209,220, but Heritage is seeking $220,802, a total that includes additional freight costs and...
LA port union elects new president ahead of APM Terminals talks Mr Familathe co-ordinated the relationship with International Longshore and Warehouse Union affiliates outside the US such as ILWU Canada and...
Sinapore LNG names former Vopak executive as chief Tan Soo Koong is a 30-year veteran in the energy and petrochemical sector. He was responsible for overseeing Vopak's five...
Seaspan commits to $200m rescue financing for Swiber Seaspan has signed a definitive investment agreement calling on the boxship player to pump equity into Swiber and its LNG-to-power...
Malaysia's Yinson emerges as white knight for Ezion Ezion's shares last changed hands at S$0.043 on February 26 before they were suspended but this deal will capitalise up...
George Youroukos: trade war the best thing for container shipping in many years US-China tussle has put ship ordering 'in check', says Global Ship Lease executive chairman George Youroukos.
Investment? Shipowners told they need to earn it There's not much mystery why stock buyers have turned their backs on shipping listings, but what can owners do to lure them back?
Dorian's John Lycouris: US LPG export supply capped by infrastructure The US is hitting the upper limit on LPG exports, Dorian LPG chief executive John Lycouris told attendees at the Capital Link International Shipping Forum in New York Monday. Issues at the Mariner East pipeline in Pennsylvania and at the port of Houston have effectively capped texports at the mid-30 million tonnes per annum range, he said. Dorian still looking at LPG fuel VLGC giant Dorian LPG
IMC-Yongyue to run repair yard for Valemaxes in Brazil A new US-funded Brazilian shipyard start-up is looking to China for technology. The planned Brasil Basin Drydock Co (BBDC) yard in the state of Paraiba, around 120 kilometres (75 miles) from Recife in the north-east of the country, will use the high-pressure water dry-docking methods developed at Zhoushan IMC-Yongyue Shipyard and Engineering Co (IMC-YY) from the start. The BBDC yard will contra
Scorpio's Bugbee: Eve of IMO 2020 will be 'chaos' Charterers will 'wait and see' before committing to one or the other by 2020, Scorpio Bulkers chief executive Robert Bugbee says.
Scorpio Bulkers secures more cash to fit scrubbers The shipowner now has a total of $52.8m in cash to finance exhaust gas cleaning systems on its vessels
Tanker and cruiseship damaged in collision A tanker has suffered damage above the waterline in a collision with a river cruiseship in the Netherlands. NOS reported that the incident in the early hours of Monday involved the 14,300-dwt Chemical Marketer (built 2004) and a vessel called Viking Idun, according to Safety Region Zeeland. The clash happened in the Westerschelde in Terneuzen. No injuries or pollution were reported. Chemical M
Navios Maritime Acquisition confirms VLCC sale price US-listed Navios Maritime Acquisition has confirmed the sale of its oldest tanker. Navios Maritime Acquisition sells oldest VLCC to Nathalin It said the 299,000-dwt VLCC C. Dream (built 2000) has gone for $21.75m. TradeWinds reported last week that Thai owner Nathalin was the buyer. Nathalin subsidiary Prima Marine now controls the ship as Crystal Star. Greek brokers had said the Hitachi Zose
How Abenomics could trump the rise of US protectionism Sino-US tensions have hit Japan's Big Three shipowners - but Tokyo's global ambitions could grow seaborne trade
EU clears Mercuria's Aegean takeover The European Commission has approved Mercuria Energy's takeover of restructured Aegean Marine Petroleum Network Inc. It concluded that the proposed transaction would raise no competition concerns as the companies have a limited position in the markets where their activities overlap. Aegean Marine to exit Chapter 11 next week The transaction was examined under the simplified merger review proced
Navigator reveals new finance deals as result turns red US-listed Navigator Holdings has revealed new financing deals as it fell to a loss in the fourth quarter. The LPG carrier owner said the net deficit to 31 December was $3.9m, against a profit of $1.4m in 2017. Navigator Holdings to ride US ethane-based petrochemical boom with versatile fleet Revenue rose 2% to $78.2m, but interest costs increased by $2m. The average time charter equivalent rat
Borr Drilling buys half-price rig, gets long-term contracts Borr has bagged a bargain and has confirmed new employment for its other rigs
Cosco inks LSFO deal with Petro China Cosco is sourcing low-sulphur bunkers from Petro China subsidiary Double Rich. It has signed a deal for fuel not exceeding 0.5%, it said. The giant Chinese state shipowner said it is actively preparing for IMO 2020 and will achieve compliance by "multi-sourcing", according to Bunkerspot. This includes research and development, and the use of scrubbers. It has installed these exhaust cleaning
Kistefos boss Bengt Rem banks large bonus increase Kistefos owner Christen Sveaas is generously rewarding company boss Bengt Rem for the company's results for 2018. According to the just-released annual report for the Norwegian diversified investment company, Rem received remuneration of NOK 23.6m ($2.75m), up from NOK 8m for 2017. NOK 20m of last year's compensation to Rem was a bonus. Kistefos, which is wholly owned by Sveaas whose investment
NYK enters geophysical survey sector Japan's NYK has signed a domestic contract that will see it enter the geophysical survey sector. It has sealed a 10-year consignment service agreement for its Ocean Geo-Frontier (OGF) venture in a deal with Japan Oil, Gas and Metals National Corporation (JOGMEC). PGS sells survey ship to Japan for $100m OGF was formed last year with Hitachi and Norwegian shipowner PGS Geophysical. PGS sold the
Piraeus Bank cuts bad loans by $6.2bn Greek shipping lender looking to reduce non-performing exposure by another $17bn by 2021.
Vroon wins walk-to-work contract with Total Total E&P Nederland has contracted one of Vroon Offshore Services' walk-to-work units for use in Dutch waters of the North Sea. The unit, VOS Start (built 2017), will provide accommodation for personnel while Total undertakes planned maintenance work at one of its offshore platforms. The vessel has a 50-tonne active-heave-compensated crane and is able to accommodate up to 60 people. Cancelled V
Bondholders forcing sale of Boa duo Bondholders of a Boa Offshore company are to sell its only two vessels. Norway's Boa SBL said on Monday that Nordic Trustee and the bondholders' legal advisors had informed it they are in the process of disposing of the 80-loa survey ships Boa Galatea (built 2009) and Boa Thalassa (built 2008). They have asked Boa to co-operate with the move, otherwise they will use an option in the bond agreeme
Clarksons: offshore dominoes falling into place? The North Sea OSV rate recovery is having a positive effect on the West African sector, but elsewhere the upturn is a matter of timing and geography, according to UK broker Clarksons. Analyst Calum Kennedy believes key offshore metrics are more varied than is sometimes realised, with some parts of the market having seen greater improvements than expected while others remained stubbornly weak. Ow
Seabury Maritime teams with BASS US shipping advisor Seabury Maritime is teaming up with Norway-based fleet management company BASS Software. It will advise BASS on strategy and business development, including a new focus on North America. Fernando Lehrer, Seabury Maritime's head of marine services, said: "The partnership between Seabury Maritime and BASS combines the best-in-breed solutions for our clients in the maritime indu
Golden Energy adds to charter backlog Norway's Golden Energy Offshore Services (GEOS) has revealed details of extra charter work for two of its ships. Golden Energy buying OSV owner GEOM The company said the large 5,300-dwt platform supply vessel (PSV) Energy Swan (built 2005) has signed an extension with Wintershall Norge. The vessel has been on a four-year term deal since 2013, with five years of options. It will now stay with W
CDB firms up four bulkers at New Dayang China Development Bank Financial Leasing (CDB FL) has signed contracts for another four bulkers at New Dayang Shipbuilding. Clarksons reported that the 63,500-dwt ultramaxes will be delivered in August and November 2020, as well as in 2021. CDB contracted six 82,000-dwt bulkers at the yard in January. New Dayang marks relaunch with China Development Bank Financial Leasing bulker dozen TradeWin
Ikeda resets MOL's focus in "rough seas" MOL CEO Junichiro Ikeda is focusing on competitiveness and environmental innovation as the Japanese company begins its new financial year. In an address to staff, he launched the shipowner's "rolling plan 2019", concentrating on developing the emissions-free business into one of its future core operations. The company will also "invest management resources in fields where we have the greatest st
Chairman Cho leaves Hanjin Heavy yard group Hanjin Heavy Industries & Construction chairman Cho Nam-Ho has left the board following the company's takeover by creditors in a debt swap. The Korean yard said shareholders have approved a proposal to name a new president and CEO to replace Cho, who had said he would step down following its restructuring. Earlier this month it was reported that university professor Lee Byung-mo was being brough
UN tribunal looms for ABC tanker held in Nigeria Switzerland is to take legal action following the seizure of an ABC Maritime tanker in Nigeria in January 2018. Swiss media reported that talks have failed to secure the release of the 7,600-dwt San Padre Pio (built 2012), which is anchored near Port Harcourt. Gulf of Guinea piracy spike continues into 2019 A year ago, the Nigerian navy said in a statement that the vessel, with 16 Ukrainian cre
Fairfax India grabs 41% stake in Seven Islands Shipping Indian shipowner eyes further expansion following investment from Canadian firm.
Highrich Logistics handy sells for a bargain price Low auction price for Highrich Logistics's Long Bright is due to protracted spell in lay-up.
Wintermar Offshore Marine ends the year in the red Indonesian offshore vessel operator said 2018 was challenging year, despite good start.
Vitol breaks new ground with charter of TMS Cardiff Gas LNG carrier newbuilding Growing Greek gas carrier player left with just one open ship as it strikes debut deal with trader.
GIIGNL logs another bumper growth year for LNG in 2018 Annual statistics for importers group show average LNG charter rates almost doubled last year compared to those recorded in 2017
DSV to acquire Panalpina for $4.6 billion DSV's will acquire Panalpina in an all-stock deal to create the world's fourth largest freight forwarder.
Amazon's air cargo hold strengthens Online retailer and supply chain services provider is expected to increase its ownership in cargo aircraft operators, Atlas Air and ATSG, with stock offerings that accompany additional plane leases.
Customs brokers on SW border brace for delays CBP's deployment of 750 officers to assist with the the immigration crisis has customs brokers along the Southwest border worried about backlogs of trucked imports.
Nearly 235,000 U.S. bridges need repair, study finds
Commentary: Signing the line on compliance commitment
Two execs indicted for defective dehumidifier imports
Refinery utilization uptick likely eroded US crude supply overhang last week: survey US crude inventories likely edged lower last week amid a modest uptick in refinery utilization, according to analysts surveyed by S&P Global Platts Monday.
OIL QUARTERLY: Fuel oil to remain strong as IMO 2020 preparations ramp up The high sulfur fuel oil market saw counter-seasonal strength in the first quarter due to increased demand from Asia for European cargoes.
TANKERS: The time is now for bunker buyers to find fuel: Capital Link Forum Bunker buyers should find their fuel suppliers as soon as possible, as compatibility and availability of compliant low sulfur fuel and scrubber-ready high sulfur fuel remains uncertain ahead of the January 1, 2020, implementation of the International Maritime Organization 0.5% sulfur bunker fuel regulation, panelists on the IMO 2020 & Beyond forum at Capital Link Forum said Monday.
Iraq's crude oil exports fall 6.7% on OPEC cuts, bad weather Iraq's crude oil exports fell 6.7% in March as output cuts and bad weather curbed supplies from OPEC's second-biggest producer.
Poland's Lotos has no plans to focus on 0.5% sulfur bunker market Polish refiner Grupa Lotos plans to focus on marine fuels with 0.1% sulfur content or less, rather than 0.5% sulfur fuel when the International Maritime Organization's new sulfur cap comes into force in January 2020.
FUEL FOR THOUGHT: Houston's shipping bottleneck could curb port's expansion An impasse has emerged between key operators on the Houston Ship Channel -- a critical lifeline for growing US energy exports -- as thriving activity in both tanker and container shipping has exacerbated competition for space.
External: Praxis Energy Agents DMCC
Vopak Singapore to commission Sebarok terminal expansion by end-2019 Petroleum storage company Royal Vopak is expanding its capacity in Singapore with the addition of four new tanks at its Sebarok terminal that will be commissioned by the end of 2019, a company spokeswoman said Monday.
FUTURES: Crude rises on supply concerns
ICE April Singapore HSFO open interest down 9.4% to 11.12 mil mt
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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