HII names Aguayo GM of San Diego Shipyard Huntington Ingalls Industries (NYSE: HII) has named Carlos Aguayo general manager of its San Diego shipyard. He will replace Daniel Flood, who is retiring after 40 years in the ship repair and
White paper calls for transparency on IMO 2020 fuel surcharges Seabury Maritime LLC is warning that ocean carriers must be transparent with shippers on how they calculate fuel surcharges. It says that ocean carriers and shippers alike are facing "an uncomfortable uncertainty"
Passenger-only cat joins San Francisco Bay ferry fleet The San Francisco Bay Area Water Emergency Transportation Authority (WETA) today welcomed Pyxis, a new 445-passenger ferry, into the San Francisco Bay Ferry fleet. Pyxis is the first new vessel added to
ABB launches new DC drive series ABB has launched a new series of DC variable speed drives (VSDs) that allow users with a large installed base to get better performance from their existing systems. With the new DCS880
Inmarsat launches a new service for crew Satcom services provider Inmarsat is launching Crew Xpress, a new service for crew available as part of an increasing number of services available on its Fleet Xpress global maritime high-speed broadband service
Cavotec wins a further automated mooring system order Lugano, Switzerland, headquartered Cavotec SA reports that it has signed an agreement with an undisclosed port operator to equip two berths at a terminal with MoorMaster automated mooring systems. Cavotec will design,
Bergeron no longer with Liberian registry The Liberian International Ship and Corporate Registry (LISCR), the privately owned U.S.-based manager of the Liberian Registry, reports that "Scott Bergeron has departed from the organization." Bergeron had served as LISCR's CEO
Transportation Institute reports growth in Jones Act generated jobs The Transportation Institute (TI), a Washington, DC, based non-profit organization that advocates and works for the U.S. flag maritime industry, today reported a 30% increase in domestic maritime job creation enabled by
Cheniere hails milestone at Corpus Christi project The LNG train will have 4.5m tpy of production capacity, while the company has 36m tpy of LNG production capacity...
Shell's Henderson stresses significance of leadership Better leadership would help to cultivate the triumvirate of improvements in safety, environmental performance and the arrival of new technology...
Platsidakis says sulphur cap is example of 'shallow' regulation Ex-chairman of Intercargo says owners, especially in tramp sector, are being undermined by unrealistic rule-making but ought to be less...
Vale executives step aside amid dam disaster probe The resignations appear to be temporary while probes are carried out. The death toll from the incident has risen since...
German owners sell Hammonia Reederei to Scandinavian investors Peter Döhle Schiffahrts will retain technical management for Hammonia's 45-strong fleet of bulkers, boxships and multi-purpose vessels
Probunkers seeks proposals for seven LNG bunkering vessels Designers, yards and brokers have until March 29 to pitch for design of vessels estimated to cost close to $40m...
Liberian Registry says Bergeron has 'departed' The Cohen family, in particular Adam Cohen and Elan Cohen, will continue to lead LISCR
Boskalis and Kotug to sell Kotug Smit Towage The deal, with an enterprise value of €300m ($340m), will see the towage company become part of the Boluda Group...
DFDS names Carlsen to succeed Smedegaard as chief executive Niels Smedegaard will be leaving at the end of April, having served a 12-year tenure at the top
Daily Briefing A third of scrubber orders will not meet IMO cap deadline | Shipowners holding off on switch to low-sulphur |...
Index-linked contracts open the door for container freight derivatives Carriers and shippers should look to index-linked contracts to reduce volatility and avoid contract breaches
India's east coast receives first LNG cargo The 160,000 cu m LNG carrier was reportedly carrying a cargo supplied by Swiss trader, Gunvor, to Indian Oil Corp
Zim containers damaged in Busan port collision Safmarine Nokwanda said to have had engine problems while entering Berth No 2
Woodside to push hydrogen as transport fuel in South Korea This comes after Woodside penned two separate agreements last year with Kogas and Pusan University of South Korea on joint...
SSA Marine to expand at Jaxport Marine terminal operator's presence will grow by 60% at Florida port.
Scorpio Tankers gets upgrade with IMO 2020 on the way New York-listed owner's stock sees slight gain by midday.
Berenberg raided over Hapag-Lloyd deal Senior partner under investigation for possible insider trading of liner shipping stock in 2017
US-China row aside, crude and LPG bulls are on good footing For the short term, at least, energy trade between world's two largest economies might be more like icing on the cake than an essential pillar for VLCC and VLGC markets
Cosco's specialised shipping arm picks up wood-pulp option Cosco Shipping Specialized Carriers has exercised its option to build another four 62,000-dwt vessels at a group yard.
US exports continue to power rise in VLCC rates VLCC spot rates jumped by one third last week with strong US exports and continued activity out of the Middle Easy boosting the market. Okeanis Eco Tankers shows confidence with 2019 VLCC supply growth sums Record US crude exports fuel tanker rate rise Brokers believe the uptrend can be extended at a time shipowners are confident of their position. Morgan Stanley placed VLCC rates at $43,000 p
Ardmore plots patient growth plan in land of listed giants Ardmore Shipping is a medium-size owner in a public product tanker sector that has gradually seen some of its rivals grow significantly larger, mostly through consolidation. Does New York-listed Ardmore face the danger of being obscured by the giants' long shadows if it cannot grow itself? Chief executive Anthony Gurnee tells TradeWinds that patience will be the virtue that governs Ardmore's own
Nordic American Offshore's fourth quarter deep in the red The company continues to deal with covenant breaches while taking a $160.1m impairment charge
Germany's Nord/LB raises $2.4bn Restructuring German lender Nord/LB has banked EUR 2.15bn ($2.43bn) from two bond sales. Subsidiary Deutsche Hypo issued a benchmark mortgage securities issue with a 10-year term that was slightly oversubscribed at EUR 750m, it said. The bond was primarily placed with institutional investors in Asia and Europe and carries a coupon of 0.75%. Cerberus fails in Nord/LB bid but is linked to 263-shi
Shipping's seasonal rate slowdown largest since 2012, says Clarksons Shipping rates have seen the largest seasonal drop in over half a decade as global events coupled with typical trading patterns to hinder earnings, the world's largest shipbroker says. Sarah Holden, an analyst at Clarksons, said the cross-sector ClarkSea index was down 40% from its December peak to the trough seen in the middle of February. K Line VLCC transaction tipped to extend tanker price
Astomos sells vintage VLGC in fleet renewal move Japanese shipowner Astomos Energy has now sold a veteran VLGC at a time rates are thought to be shaping for a recovery. The 78,000-cbm LPG carrier Gas Diana (built 2000) has gone to an undisclosed buyer for $18m, brokers say. The owner did not reply to requests for comment on the matter. It put the ship up for sale along with minority partner NYK Line early last month with offers due on 21 F
Fincantieri firms up first of six Viking ships Italian cruiseship builder Fincantieri has finalised a deal to build two more cruiseships for Torstein Hagen's Viking Cruises. The vessels are the first in a series of six agreed subject to conditions last March. The 47,800-gt ships will be delivered in 2024 and 2025. They will house 930 passengers in 465 cabins. Viking has placed orders for a potential 20 vessels with Fincantieri, which the I
India ups LNG import capacity with new Ennore terminal Gunvor delivers commissioning cargo to Indian Oil LNG's start-up near Chennai on country's east coast
University professor to run Hanjin Heavy University professor Lee Byung-mo is being brought in by creditors to run restructuring Hanjin Heavy Industries & Construction (HHIC). The former STX Offshore & Shipbuilding president and DSME vice president will replace HHIC chairman Cho Nam-ho, Maeil Business reported, citing industry sources. Hanjin to relinquish control of yard group Hanjin said last week that Cho and parent group Hanjin He
K Line VLCC transaction tipped to extend tanker price momentum Rumours swirling around the sale of a K Line VLCC suggest an upswing in crude tanker pricing has been extended. Eyes fixed on K Line VLCC sale as tanker price rise faces test Okeanis Eco Tankers shows confidence with 2019 VLCC supply growth sums Frontline scouts for tanker deals with asset prices only going one way TradeWinds reported last week the sale of the 314,000-dwt Tamagawa (built 2007)
Le Freak storm: Nile Rodgers and Sophia Loren evacuated The world of show business avoided a serious blow over the weekend when celebrities including Sophia Loren and Chic frontman Nile Rodgers were evacuated during a cruiseship naming ceremony in Southampton. The stars had gathered in a quayside marquee to celebrate the launch of the $750m ($992m) 4,400-berth MSC Bellissima. But strong winds from Storm Freya forced the event to continue on board for
APL slaps fuel surcharge on boxes CMA CGM-owned container line APL has revealed its new fuel surcharges for the second quarter. From 1 April, the bunker adjustment factor (BAF) will add $160 per teu from the US east coast to Central America, the Caribbean and west coast South America, with $260 applying from the west coast. Asia to Latin America boxes will attract a $260 per teu fee, while the west coast South America to Persian
Trade tensions and IMO 2020 slow shipbuilding recovery Global trade tensions and the pending arrival of IMO 2020 rules saw shipowners take a more restrained approach to newbuildings in the second half of last year, says Ren Yuanlin's Yangzijiang Shipbuilding. Diamantidis adds suezmax resale to Delta Tankers fleet Yangzijiang looks past shipbuilding to bump up earnings Singapore-listed Yangzijiang says the two factors contributed to a slowdown in th
Sail-driven tanker auction fails to find buyer Scottish preservation society still hopes it can work with Honolulu Harbor to move decaying tall ship.
MOL's head of LNG in Europe takes long view on strategy Gunaseharan Ganapathy urges customers intent on price-cutting to 'be reasonable'
Tea and Trump help MOL's London LNG boss unwind Gunaseharan Ganapathy has a background in electronics and began his working life at 23 as a radio officer onboard MISC vessels. He toyed with working for an electronics company, before a friend suggested he go to sea to see the world. "They didn't tell the whole truth," he says, "but for me it turned out OK." MISC sells its oldest LNG ship for demolition in Bangladesh Ganapathy served on liner
Migrants scale DFDS ferry funnel Calais-Dover ferry traffic was disupted on Saturday after more than 100 migrants stormed the port and tried to board a DFDS ro-pax. About half of the group managed to make it on to the 34,000-gt Cotes Des Dunes (built 2001) at Calais, with some climbing on to the funnel. Two more fell into the sea and were rescued. More than 60 people were arrested after searches of the ship. The migra
John Angelicoussis sheds ageing capesize bulker John Angelicoussis' dry bulk arm Maran Dry Management has agreed to sell an ageing capesize vessel in Singapore. Brokers said the Hyundai Heavy Industries-built, 172,000-dwt Anangel Destiny (built 1999) has fetched a price in excess of $9m. Athens-based brokers reported the deal as a demolition sale, at $432 per ldt, or $9.6m in total. TradeWinds, however, is told the vessel will go for further
Golar FSRU and FLNG units hook up off Cameroon Company's floating LNG producer commissions new regasification vessel off Cameroon
Boskalis and Kotug sell joint venture Royal Boskalis Westminster has announced its second major business disposal within a month. The Dutch company said it and co-shareholder Kotug International have agreed to sell Kotug Smit Towage to Spain's Boluda Group in a deal valuing the company at EUR 300m ($340m). Boskalis expects to receive EUR 90m in cash for its 50% holding in the joint venture, which operates more than 70 units. Royal
AP Moller-Maersk rings board changes with two new faces Danish giant AP Moller-Maersk is adding more logistics knowhow to its boardroom at a time Maersk Drilling is set to be spun-off. Soren Skou sets out list of concerns clouding AP Moller-Maersk's outlook Maersk Drilling sets date for listing as AP Moller extends $12bn energy divestment Former TNT executive Bernard Bot and Marc Engel, who is credited with laying foundations for growth at Unilever,
Equinor and EMGS sign lucrative North Sea data deal The oil producer will licence data and will fund a future survey on the Norwegian continental shelf
Chembulk CFO John Capasso resigns Connecticut-based Chembulk Tankers will have a new CFO from 1 May. Bart Kelleher will replace John Capasso, who is resigning to pursue other career opportunities, the company said. Capasso has been with the owner since May 2017 and has played a key role, it added. Kelleher, Chembulk's chief strategy officer since early 2016, will see his job expanded to include finance and accounting functions
China Merchants orders car carrier double The China Merchants group has reportedly signed up for two pure car carriers (PCCs) at its own yard. Brokers said the company's CSC Shenzhen subsidiary has contracted the 3,800-vehicle duo for delivery in January and March 2021. No price was given, but the yard was named as CMHI (Jiangsu). The group is listed with nine car carriers among its huge fleet of 355 ships.
Liberian Ship Registry confirms Bergeron's departure Rumours of the chief executive's exit began circulating last week
Quentin Soanes stocked up on Braemar shares after Steve Kunzer's appointment Shipbroking veteran and Quentin Soanes has added to his stake in London-listed Braemar Shipping Services. Steve Kunzer joins board of shipbroker Braemar Soanes says Brexit will be 'positive' for all of Europe Soanes shares all Soanes, who left Braemar to start his own brokerage in 2013, bought the stock after former Eastern Pacific chief executive Steve Kunzer joined the board last week. A fi
Navios revising preferred share tender offer a third time Navios Maritime Holdings has, for the third time, altered its offer to swap preferred shares. Meanwhile, the lawsuit over the proposed deal is on track for a trial this summer. Monday, the Angeliki Frangou-led bulker owner announced it had improved the offer by $0.50 for series G and H preferred shares and extended the deadline to take the offer until 15 March. Navios again tweaks controversial
Probunkers invites proposals for LNG bunkering septet Athens-based venture Probunkers has invited designers and shipyards to offer technical plans for an LNG bunkering septet it intends to build. Parties have until 29 March to submit "initial, concept design proposals, along with outline specification and general arrangement", the company said in a press release on Monday. Probunkers' technical manager Andreas Zompanakis will be in charge of evalua
NRP buys Hammonia from Peter Dohle and Ernst Russ Oslo investment house Ness, Risan and Partners (NRP) has acquired bulker and boxship technical manager Hammonia Reederei from its German owners, Ernst Russ and Peter Dohle. The company's two founding shareholders said NRP had teamed up with the former owners of Finnish container line Containerships, which was bought by CMA CGM last year, to buy their stakes. NRP seeks further investments in reco
BW Offshore could buy Petrobras, Chevron field Oslo-listed FPSO group BW Offshore is "contemplating" buying a Brazilian oil field from Petrobras and Chevron. It said the move would see it acquire 100% of the Maromba field. Petrobras currently owns 70% and Chevron the rest. BW Offshore extends Brazilian FPSO charter A deal would have to be approved by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP). No price has b
CEO Smedegaard quits DFDS after 12 years DFDS CEO Niels Smedegaard is leaving the company after 12 years in the top job. The resigning boss will be replaced by CFO Torben Carlsen at the end of April. Carlsen joined in 2009 and together with Smedegaard has overseen growth at DFDS, including the acquisition of Turkey's U.N. Ro-Ro. DFDS full-year results reach 'all-time high' Bungled Brexit ferry contracts cost UK $44m Smedegaard said:
Pacific Radiance cuts losses due to fewer impairments Singapore firm also sees improvement in vessel utilization, but charter rates continue to languish.
Fifty passengers stranded as Singapore ferry grounds off Batam Ferry was heading for Tanah Merah Ferry Terminal when it fell foul of Karang Galang reef.
Ezion shares suspended while potential investor checks the books Singapore offshore vessel operator has also seen an 18% increase in losses for the fourth quarter.
CMA CGM launches $1.2bn cost-cutting drive French liner giant upbeat on prospects for 2019 despite persisting geopolitical tensions.
CBP looks to 'keep us all safe and protect legitimate trade' E-commerce platforms and rapidly changing IT are challenging the agency's regulatory oversight and systems to keep pace.
COAC gets into nitty-gritty for in-bond enhancements CBP and COAC make strides to improve procedures for bonded cargo moves, but more work still needs to be done.
CMA CGM volume, revenue increase in 2018 French carrier says CEVA acquisition will create $30 billion company offering door-to-door logistics.
GAO: State should share export control watch list with BIS
FUTURES 5: US-China trade deal optimism keeps futures in black despite equity selloff A steep selloff in US equity markets knocked crude futures off early-session highs, but optimism regarding a potential thaw in US-China trade relations and a tightening supply picture for 2019 kept prices in the black Monday.
US releasing light sweet crude barrels from SPR as medium, heavy shortfall looms The estimated 6 million barrels of SPR crude are expected to be delivered throughout May, when US policy actions are expected to affect the flows of millions of barrels of medium and heavy crudes.
FEATURE: Fuel quality tops bunker industry's 2020 concerns For bunker market participants gathering in London for industry events last week, the quality of the new fuels they will start trading in next year was at the top of the agenda.
External: Praxis Energy Agents DMCC
Container line CMA CGM increases bunker fuel hedging French container line CMA CGM increased its bunker fuel hedging last year to protect against rising prices.
External: Marine Bunkering(Rotterdam)B.V.
INTERVIEW: Saudi Aramco still eyes growth in US refining, despite chill in bilateral ties "When you look at markets in the US, we look at the potential to grow," Abdulaziz al-Judaimi said.
India will invest $500 million in Iran's Chabahar port: Mehr India began commercial activity at Chabahar on January 8.
FUTURES: Oil still higher on bullish indicators Fuel consumption, especially in Asia's developing economies is holding up, Trifecta Consultants' Vijayakar said.
Singapore 180/380 CST HSFO spread widens to 4-month wide as high viscosity supply rises "More high viscosity or high density cargoes are arriving over end-February to early March," a fuel oil trader 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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