Jonathan Zier joins Crowley team providing tug and barge solutions Aiming to provide a more personalized interface for customers in need of tugs, barges and offshore project services in the Gulf of Mexico and internationally, Crowley Maritime Corp. has appointed Jonathan Zier
Royal Caribbean has record quarter, despite dry dock incident Royal Caribbean Cruises Ltd. (NYSE: RCL) today reported record first quarter results - despite an expensive April 1 incident in Grand Bahama Shipyard involving Oasis of the Seas. The cruise ship was
More owners opt for onboard fuel testing as IMO 2020 nears Littlehampton, U.K., based condition monitoring technology specialist Parker Kittiwake is seeing an increase in demand for onboard fuel compatibility testing. The trend results from actions by shipowners and operators to mitigate the
Henriette Thygesen to be Chairman of Maersk Supply Service Henriette Thygesen will become Chairman of the Board of Directors of Maersk Supply Service on June 1 when its current chairman, A.P. Moller - Maersk Vice Chairman Claus V. Hemmingsen, leaves the
Legal saga over bulker Alkyon resumes in court The UK High Court will decide on the legality of the arrest of the 36,000 dwt vessel and hear NatWest...
World boxship fleet update: Treading water Uncertainty over demand and the impact of IMO 2020 is helping to keep the container fleet in a steady state
Dan-Bunkering denies any violations of Syria sanctions Danish news outlet DR has cited unspecified US legal documents from which it has formed its conclusions
US Senators fear Trump may snub IMO 2020 A group of legislators in the US are making the argument that the new IMO sulphur cap regulation will benefit...
UK scraps remaining Brexit ferry contracts Transport Secretary Chris Grayling under fire over deals made on the assumption that the UK would leave the European Union...
Maersk names Thygesen to chair Supply Service unit Henriette Thygesen replaces Claus V Hemmingsen to become new MSS chief executive
Accident analysis will show how safe autonomous shipping really is Increased levels of autonomy on board ships are widely thought to promote greater degrees of safety. However, until there is...
Capesize market outlook is 'bleak' Large ships are 'likely to face continued pressure as there is little potential for substantial growth on the demand side'...
Inmarsat profit falls as maritime business slows down The soon to be taken private satellite communications giant sees declining maritime revenues in the first quarter
Box line bafs open opportunities for smart shippers Competing formulas for the banker adjustment factor will allow shippers to benefit by shifting volumes between carriers
Transpacific contract renewals lift carrier optimism Rates from Asia to the US west coast were negotiated between $1,300 and $1,500 per feu, against $1,000 to $1,200...
Brexit debate has highlighted 'crucial role' of UK ports, minister says UK ports need certainty to unlock investments required to ensure any Brexit disruptions are short-lived
Glencore expects 12% rise in coal production Glencore expects full-year coal production at about 145m tonnes compared with 129m tonnes in 2018
Lloyd's sets out six initiatives to create 'future-focused' market Chief executive John Neal calls on the market to work together to 'reimagine' Lloyd's
Bigger ships, bigger losses Analysis based on 471,326 corporate insurance claims from 206 countries and territories, with total value of $66.5bn. Marine losses make...
Maritime industry aims to cover all the bases on Oakland stadium plans Don Marcus, president of the International Organisation of Masters, Mates & Pilots, sums up the matter well, saying any decision...
Demand uncertainty halts Japan's LNG charge Excluding LNG ships or carriers, only 140 LNG-fuelled vessels are in operation and just 170 are on order, according to...
Daily Briefing Time to get serious over reporting casualties | Macquarie buys OOCL's Long Beach terminal for $1.78bn | Shipping industry calls...
Hornbeck losses deepen in first quarter Hornbeck Offshore had more ships in the water in the first quarter of 2019, but remained in the red, falling short of analyst expectations. The Louisiana-based, New York-traded company reported after the bell Wednesday that it lost $36.6m in the first three months of the year, versus a $24.2m loss year-over-year. Hornbeck refinances $84m of notes The figure represents a $0.97 loss per share, si
Royal Caribbean counts cost of Oasis of Seas accident The New York-listed cruise company 'has never experienced' such an incident, says chief executive Richard Fain.
Q-Flex heads to Panama in likely first transit for Q-ship fleet A Q-Flex LNG carrier appears to be heading for the Panama Canal in ballast in preparation for what could be the first transit of the waterway by a vessel of this size. Nakilat hints at Q-Flex LNG carrier transits of Panama Canal Ship tracking outfit Kpler reported that the 210,134-cbm Al Safliya (built 2007) delivered a cargo to Korea Gas Corp' Tongyeong LNG terminal in South Korea last week. T
African oil supply problems aggravate suezmax weakness Low oil supply from Nigeria and Angola are hurting suezmax owners at a time when Asian demand remains soft during the refinery maintenance season
Tony Gurnee shares Ardmore's growth 'compass' with IMO 2020 set to kick into top gear this September Ardmore Shipping is plotting the potential purchase of more tonnage and could charter-in additional tankers with the full impact of IMO 2020 on the product market just months away. New York-listed Ardmore is charting how to replace two older vessels sold this year and is likely to dispose of a third veteran vessel with its 15th birthday on the horizon. IMO 2020 masking true product tanker streng
Lloyd's revamp sees risk market split in two Lloyd's of London has unveiled what it calls a "bold new strategy" that could shape the future of the world's (re)insurance market. The proposals are focused on delivering higher quality risk protection for its customers, it said. The overhaul will see costs cut and the market split into two, with a greater emphasis on online deals. The Financial Times reported that Lloyd's has been facing pres
Speculation swirls around suezmax tanker resale swoop by John Fredriksen Norwegian shipping tycoon tied to reports of sale of newbuilding ordered by Active Shipping in South Korea
Royal Caribbean Cruises stock surges on earnings beat Richard Fain-led cruise major enjoys higher revenue but Oasis of the Seas accident at Grand Bahama Shipyard hurts outlook.
IMO 2020 masking true product tanker strength, says Ardmore Shipping chief Ardmore Shipping has chalked up a stronger than expected first quarter performance in a recovering product tanker market. New York-listed Ardmore remained in the red for the period but chief executive Tony Gurnee believes the market is heading into a sustained up-cycle. New York-listed Ardmore tipped to sell ship which launched the company New York's shipping newcomers tipped to shine among 'co
Dan-Bunkering denies Syria sanctions breach Danish ship fuel company Dan-Bunkering has refuted domestic claims that it violated EU sanctions by supplying jet fuel to Syria. The company, part of Bunker Holding, has faced a number of allegations from public service broadcaster DR in recent days. It told TradeWinds: "Dan-Bunkering wants to make it clear that the company has not supplied jet fuel or any other products to Syria in violation of
Slick shark-skin design for hulls could reduce oil spills Ship designers have come up with some ingenious ways of saving fuel over the years, but have they been missing a trick all along? Patricia Fernandez of Massive Science argues that the world could be a better place if hulls mimicked the hydrodynamic properties of shark skin. Her simple argument is that by limiting the amount of bunkers carried on vessels, any harmful spills would be reduced as a
US to spark VLCC demand as it chokes off Iranian oil exports Market players say crude-consuming nations will need extra international tonnage to ship replacement barrels as sanctions force NITC tankers into floating storage
Foresight forges partnership with MOL to handle imports of LNG to Andaman archipelago Ravi Mehrotra's Foresight Group has created a 50:50 joint venture with MOL to bid on a contract to handle the import of LNG to India's Andaman Islands. Mehrotra's planned move into LNG forms part of an expansion strategy for the group that includes buying and trading short-term older VLCCs. Foresight Group's 25th winter feast draws 500 guests Foresight's executive chairman told TradeWinds that
Mipo eyes LNG-fuelled boxships and bulkers after tanker approval Lloyd's Register (LR) has approved a new Hyundai Mipo Dockyard (HMD) design for an LNG-fuelled MR tanker - as the yard eyes a move into other sectors. The 50,000-dwt ship is part of the yard's efforts to focus on gas-powered eco-vessels. Mipo has incorporated an LNG-fuelled propulsion system into its most successful tanker design, following technical cooperation with LR. The yard is now reviewi
Brazilian LNG group targets FSRU-based imports starting in the fourth quarter A new group of companies in Brazil plans to install a floating storage and regasification unit before the end of this year to import LNG. A spokesman for Nitegas Energy Consortium, which is the group of outfits developing the project, told TradeWinds that imports into the state of Santa Catarina will start with an existing FSRU. This will be ready for operation from October. BW scoops FSRU job f
UK faces '50m ferry fee after no-deal Brexit deals scrapped The UK's Department for Transport (DfT) has cancelled no-deal Brexit ferry contracts at an estimated cost of £50m to the UK taxpayer. UK government cancels Seaborne Brexit ferry contract P&O sues UK over Eurotunnel Brexit pay-out The move comes in the wake of an extension to the country's deadline to exit from the European Union. "The Government's freight capacity contracts for the summer per
Tanker broker Infinity sets up in London backed by key hire Norwegian clean tanker broker Infinity Shipbrokers is setting up an office in London and has hired Frazer Williams, 41, from Poten & Partners as director. The move comes as somewhat of a surprise at a time some sources believe the London market is over-brokered. Profit jump at Oslo's Infinity Infinity profit halved but margins solid Infinity partner Eigil Grimstvedt agreed many brokers cover
Arrested tanker left on the shelf at auction An arrested tanker has failed to sell at auction in Trinidad. Bidders did not meet the reserve price for the 9,100-dwt Olesya (built 2009), exclusive broker CW Kellock said. This leaves an opportunity for new buyers to step in, it added. Caterpillar auctioning arrested tanker The Gibraltar-flagged tanker was put up for sale at the request of its mortgagee, Caterpillar Financial Services. The
Havyard using digital modelling to make electric vessels ready for reality Havyard is using digital modelling to optimise its battery-powered ferries' energy consumption in line with real-life operational conditions. Fosnavaag-based Havyard on Tuesday delivered its third battery-run ferry to transport company Fjord1, which will operate the vessel across the Sulafjord on the Hareid-Sulesund route in Norway. The shape of the ferry's hull and other features were optimise
Ship demolition markets spark to life in 'productive' April Ship scrapping activity jumped in April helped by a depression in the capesize market and the first VLCC demolition deals of the year. Respected demolition broker Ed McIlvaney describes April as by far the most productive month of 2019 to date in terms of overall tonnage removed from the market. He counts a total of 81 vessels, boasting a combined 3.1 million heading for scrap last month. VLCC
Heavyweight owners swing behind slow-steaming Troim, Tsakos, Procopiou, Restis and others revealed as signatories to IMO letter, but Fredriksen's name missing.
Kpler and Nigeria target "dark" tankers in anti-smuggling drive Nigeria has teamed up with French data company Kpler to combat "dark" tankers driving the oil-smuggling black economy. Deep in the delta, pipelines are tapped by thieves and fuel eventually makes its way from small boats on to tankers for export. Nigeria moves to bar foreign ships The country's department of petroleum resources (DPR) has signed a contract with Kpler to help eradicate the scourg
Panama Canal draft restrictions to cost $15m Draft restrictions at the Panama Canal are set to cost it $15m. This is according to estimates cited by AP, which reported that the economic hit is seen as minor compared to the size of its revenues - $2.5bn in 2018. Panama Canal restrictions pose tanker problems A drought related to the El Nino whether phenomenon has lowered water levels in Gatun Lake, causing the canal authority ACP to keep c
Hoegh LNG chief executive Sveinung Stohle confident of FSRU contract progress Hoegh LNG is confident of securing work for its full FSRU fleet in 2019 after the market fed of the momentum in the wider LNG shipping space last year, its chief executive says. Boost for Hoegh LNG following state approval for first Australian FSRU facility Hoegh LNG sets sights on multiple FSRUs for China Tor Olav Troim's Golar LNG nets funding for FLNG Gimi amid series of liquidity boosts Os
'Ace' slow steaming card provides boost for capesize market, says DNB Markets Capesize owners throttling back their vessels has helped the market pull away from the earnings trough which followed the Vale dam disaster, according to a new analysis by DNB Markets. Hong Kong shipowner TCC Group sells oldest capesize bulker for scrap Vale mine reopening delivers 'very good news' for battered capesize market Chinese appetite for scrap steel is a stealthy threat to capesize ma
Chembulk Tankers ends 2018 in the red Chembulk Tankers' finished 2018 in the red, more than doubling its loss from 2017. According to the Connecticut-based shipowner's annual report, filed in Norway, the company lost $67.9m last year, with a slight decline in revenue and a jump in voyage expense. Chembulk collects $200m from bond issue In 2017, the company posted a $31m loss. "Chemical Tanker market fundamentals deteriorated durin
Google, Twitter and Facebook create protectionism issues for shipping, UN trade chief warns Trade tensions can be traced back to online echo chambers that polarise opinions, Hoffman claims
London says 'thank you' to Fewster as Aussie retires from Royal Museums Greenwich The contribution of Dr Kevin Fewster as director of the world's largest maritime museum was recognised at a farewell reception hosted by Ravi Mehrotra of Foresight Group. Several well-known faces joined the lunchtime celebration at Foresight's London headquarters prior to Fewster stepping down from Royal Museums Greenwich (RMG) at the end of July. Fewster and wife Carol moved from Australia in 2
Fredriksen's Northern Drilling declares $350m drillship option John Fredriksen's Northern Drilling is acquiring a $350m drillship newbuilding. It has declared an option for Cobalt Explorer, a seventh-generation DP3 and ultra-deepwater (UDW) unit, at DSME in Korea. The yard has agreed flexible delivery until the end of the first quarter of 2021. The vessel is being purchased at close to a 50% discount after the previous owner ordered it for $660m. "Cobalt
Thygesen to chair Maersk Supply Service Svitzer CEO Henriette Thygesen is the new chairman of Maersk Supply Service. She will join the board on 1 June. The vacancy opened up due to Maersk vice chief executive and energy division CEO Claus Hemmingsen deciding to leave the group. In March, Maersk gave up trying to find a buyer for Maersk Supply as part of its strategic move to divest the last of its energy businesses. Thygesen, head
Rokke extends option period for Ocean Yield FPSO Kjell Inge Rokke's Ocean Yield has extended a charter option for a troublesome FPSO. Rokke's Aker Energy signed a $3m agreement in February that could see it fix Dhirubhai-1 for 15 years on a bareboat basis. This option period expires on Wednesday. Ocean Yield FPSO put into lay-up in Sri Lanka But Aker has now exercised a 30-day option on the option, against an "additional compensation." If t
Stena unveils electric ship prototype Sweden's Stena group has revealed it is working on a new electric hybrid vessel. The Stena Elektra will run between Gothenburg and Frederikshavn, or other routes, and will be able to travel up to 50 nautical miles without recharging. Stena's Olsson talks up tankers despite profit fall The ship is being designed as a "key element of Stena's vision of environmentally-neutral transport," it said.
New name and new CEO for Lloyd Fonds after $729m deal Lloyd Fonds has added nearly €650m ($729m) in managed assets in a deal to take over SPSW Capital that will see the German asset manager rebranded. The company, which has significant shipping investments, is acquiring 90% of the SPSW's stock and has an option to buy the remaining 10%. SPSW co-founder Achim Plate has become Lloyd Fonds CEO in the process, with Klaus Pinter staying as CFO. Couple
Carriers use floating contracts to account for fuel prices The conversion to become IMO 2020 compliant is expected to happen in the fourth quarter.
Maritime History Notes: A special National Maritime Day This year marks the 200th anniversary of the first steamship to sail across the Atlantic.
Call issued for shipping speed limits When carriers cut ship speeds in the great recession, emissions fell. Now a group of companies says this phenomenon can be used to fight global warming.
GOP House Ag leaders call for USMCA approval "The dairy industry couldn't be more clear: Pass USMCA," said Rep. Mike Conaway of Texas.
Trump, Dems agree on $2 trillion infrastructure package The two sides will meet again in about three weeks to discuss how to pay for the package, which House Speaker Nancy Pelosi described as "big and bold."
Traded Rotterdam HSFO barge volumes surge on month on closed arb east Volumes traded in the Platts Market on Close assessment process for 3.5% fuel oil FOB Rotterdam barges soared 84% month on month.
Physical to paper HSFO Rotterdam barges flip to contango, at one-year low The spread of the physical to paper 3.5% fuel oil FOB Rotterdam barges flipped to contango.
FUJAIRAH DATA: Stockpiles climb to record on 11% jump in light distillates Oil product inventories in the Fujairah trading hub rose 2% week on week.
Crude settled mixed following larger-than-expected US crude build Oil futures settled mixed Wednesday as WTI came under pressure.
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