Metal Shark gets $20.6 million Navy award Shipbuilder Metal Shark, Jeanerette, La., has been awarded a $20,628,477 delivery order under a previously awarded Navy contract for twelve 40-foot patrol boats, complete with basic boat equipment, shipping, long term preservation,
Alaska's newest pilot boat features Humphree stabilization The Southwest Alaska Pilots Association's newest pilot boat, Emerald Island, features a vessel stabilization system supplied by Humphree USA, giving a smooth comfortable ride to pilots and crew in all sea conditions.
Malta OPV will have Rolls-Royce propulsion package Italian shipbuilder Cantiere Navale Vittoria has awarded Rolls-Royce a contract to supply of a marine propulsion package for a new Offshore Patrol Vessel under construction for the Armed Forces of Malta (AFM).
ABS publishes guidance on Remote Inspection Technologies ABS has published Guidance Notes on the Use of Remote Inspection Technologies. They cover pilot-operated Unmanned Aerial Vehicles ("drones" to most of us), Remotely Operated Underwater Vehicles and Robotic Crawlers. Use of
AWO officials testify on state of U.S. maritime industry The American Waterways Operators testified yesterday before two congressional committees on the state of the American maritime industry. Tom Allegretti, President & CEO, testified before the Senate Commerce, Science and Transportation Committee
Upgraded Wärtsilä waterjets: More thrust, less noise Wärtsilä has upgraded its LJX series of modular waterjets to deliver greater efficiency with low levels of cavitation and underwater noise and has redesignated the product lines as WXJ series. A new
Carnival releases scientific study of scrubber wash-water quality As an increasing number of jurisdictions put restrictions on discharges from exhaust gas scrubbers, Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has released the results of an independent, two-year scientific scrubber
Elba Island LNG plant moves closer to production Originally built to import LNG, Elba Island will host a 2.5m tonne per annum liquefaction plant and export terminal when...
V.Group names Alison Henriksen chief financial officer with immediate effect Henriksen replaces Rod Day, who served as the shipmanagement firm's interim chief financial officer since since August 2017
'Broken' banking system leaves gap for new ship finance crowd Non-banks can act counter-cyclically and focus on market segments nearer their bottom than peak
OSM Maritime chief looks to boost female workforce Bjørn Tore Larsen says ensuring there is a greater female presence at sea is a key issue for maritime
Inmarsat eyes growth in VSAT services The technology giant sees maritime revenues slip but VSAT business grow in 2018
Swedish Club rules out additional premiums for Pakistan calls 'There are quite a number of areas in the world where we like to know when members go there, but...
ICTSI reports double-digit rise in profit ICTSI's container volumes jump 6% year on year to 9.7m teu, as new carrier services and the ramp-up of new...
Songa Container to fit fleet with scrubbers The feedership specialist will install the abatement technology across its whole fleet by the first quarter of 2020
Clean Shipping Alliance boosts membership Norwegian/Swedish shipping group Wallenius Wilhelmsen is the latest company to join the group, which now has 35 members
Liner carriers warned of cheap Chinese leasing funds Yang argues that the leverage ratio and cost of funding that carriers request from leasing firms exceed the level that...
Anglo-Eastern looks west to expand Executive chairman Peter Cremers sees more significant developments in Europe and suggests options there should not be ignored
Daily Briefing FFA trading giant slams Baltic's IMO 2020 plan | China leasing giants linked to CMA CGM megaship orders | Maersk...
Viewpoint: Facing green consequences The perfect storm of environmental red tape engulfing the shipping industry looks likely to prove the maxim that the road...
US trade policy turns its sights on India The US looks set to terminate India's preferential trade treatment under its GSP, which aims to provide zero duty and...
K Line warns of wider losses linked to ONE charters Dry bulk segment will focus on capesizes going forward, while new businesses such as LNG bunkering will be developed
Los Angeles appoints Diane Middleton as port commissioner Ms Middleton has her own practice in San Pedro, California, representing injured longshoremen and shipyard workers, including many victims of...
Niche markets offer hope for smaller carriers Smaller carriers need to find a niche service to offer if they are to survive in the post-consolidation world
Chemical tanker earnings to take hit from IMO 2020 Added costs from the new regulations could reach as much as $1,800 per day, according to chemical tanker specialist Hugo...
UPS Freight Forwarding extends reach of its global brand International Containers Ports and Logistics
Michael Chalos joins Chalos & Co There's another Chalos at Chalos & Co. The prominent Long Island-based firm announced this week that Michael Chalos, father of the firm's prinicipal George Chalos and 40-year maritime law veteran, has joined of cousel. "I keep telling him, I'm the 'Chalos' and he's the 'and company','" George Chalos joked Thursday. "I'm really happy to have the opportunity to work with my dad again." Chalos: IM
Cosco leasing unit to borrow $149m from China Minmetals Cosco Shipping Leasing continues to replenish liquidity while enhancing its cooperation with other Chinese state-run entities.
Deflation of dry bulk balloon fails to dent Pacific Basin Shipping's growth ambitions Chief executive Mats Berglund is sticking to clear S&P targets, with bulk fundamentals and Chinese stimulus set to defeat short-term noise
Berglund sticks to scrubber sceptic stance despite supramax tests Pacific Basin Shipping chief executive Mats Berglund remains a sceptic of scrubbers despite the company exploring the use of the equipment on some ships to help meet IMO 2020 rules. Scrubbers, digital and Twitter dominate GMF day one While the Hong Kong-listed owner has ruled out the kit on its handysize fleet, it is exploring the installation of scrubbers on an unspecified number of supramaxes.
Yangzijiang to build four MR tankers for shipowning arm In-house deal is part of strategy to boost Chinese group's presence in tankers
Decision on Pappadakis Supreme Court case delayed The Pappadakis family company looking for redress after their bulker was "unreasonably" held by the Coast Guard for six months is going to have to wait a little longer to hear whether the US Supreme Court will hear their case. Last week, the government exercised its right for a month-long extension to respond to Kassian Marine affiliate Angelex's appeal. The extension means a decision will not be
Long-standing IPO candidate V.Group hires new chief financial officer Shipmanagement giant and long-standing IPO candidate V.Group has hired a new chief financial officer. Meet the new boss: Ian El-Mokadem shares his vision for V.Group V.Group reveals German ambitions after Norddeutsche Reederei deal Alison Henriksen has been recruited from catering heavyweight Compass Group and will also sit on the board alongside chief executive Ian El-Mokadem and chairman John
Chinese lessors are not about to go away, but they are starting to slow down After a breakneck decade of transforming ship finance, the big leasing houses are pausing for breath
JSW turns to Wuhu for six ships in mini-bulker spree Indian group is already signed up for 18 of planned 32 newbuildings this year
Berge Bulk nets strong price in ore carrier scrap sale James Marshall's Berge Bulk is banking a strong price from the demolition sale of one of its elderly ore carriers, market sources say. TradeWinds reported last month the Berge Denali (built 1992) was set to head for the scrap heap. John Angelicoussis sheds ageing capesize bulker Fredriksen heads the field on newcastlemax bulker projects Now, it is understood the vessel is set for recycling in
South Korea to encourage liner mergers South Korea has unveiled a big new programme of subsidies for 2019 designed to boost the domestic shipping industry. Among the measures are help for owners to order 60 more vessels, cash to open new routes and a stated aim to reduce the country's eight major boxship lines to six. Maeil Business cited the ministry of oceans and fisheries as saying its policy is to order the new vessels through st
NewLead litigation ends as plot thickens for its chief executive Final ruling against Greek shipowner comes as more legal action expected to heat up
Captain and crew jailed in South Korea A South Korean court has handed down jail sentences to five Russian seafarers and an owner for trying to leave port without permission. The 5,000-dwt cargoship Palladiy (built 1984) hit the headlines last year when four crew were arrested for allegedly "resisting authorities." Fourth tanker crewman arrested in Korea The Sputnik news agency cited Russia's Korean consul Roman Bykov as saying the
Wide-beam boxships exploit their niche - for time being Rates for classic panamax boxships have fallen to half what their modern wide-beam rivals are earning
Bergeron exit fuels speculation of rift at Liberian registry Scott Bergeron's sudden and immediate departure from his post at the Liberian International Ship & Corporate Registry (LISCR) caught many in the industry by surprise. LISCR, the company that runs the Liberian registry, confirmed the departure of its long-time chief executive this week after TradeWinds was the first to report on talk of his exit. Liberian Ship Registry confirms Bergeron's departu
Herbjorn Hansson fires back in fight with former finance chief A fight between Herbjorn Hansson and the former chief financial officer of Nordic American Tankers appears to be escalating. Landmarks and cookies explain why scrubbers don't cut it for Herbjorn Hansson The New York-listed tanker owner has now fired back with a lawsuit against Turid Moe Sorensen, alleging that she was disloyal and created losses for the company when she set up rival outfit Faerd
Mermaid Maritime denies DSV disposal Thailand's Mermaid Maritime has denied it has sold an elderly diving support vessel (DSV). The company was responding to a media report claiming the 91-loa Mermaid Commander (built 1987) had gone to an unnamed buyer. Mermaid said: "While the company has received interest from potential third parties in the vessel, such interests remain inconclusive and subject to further evaluation and approval
Seabury Maritime reveals IMO 2020 cost calculations US shipping advisor Seabury Maritime has called for cooperation and transparency between owners and shippers to mitigate the effects of the IMO 2020 transition. It has produced a white paper with US shippers group Gemini that aims to promote "open dialogue between carriers and shippers by providing insight and a general understanding around metrics used behind bunker calculations," according to S
George Economou: 'The Gods Must Be Crazy' to cram sulphur limits on shipping Greek shipowner George Economou writes an open letter taking swipe at regulators for bungling the introduction of the low-sulphur cap
Economou to invest $350m in exhaust gas scrubbers George Economou is installing exhaust gas cleaning systems on almost his entire fleet, in what amounts to an overall $350m investment in the technology. His shipping group decided about nine months ago to place the scrubbers in all but two of its vessels, the owner revealed in an opinion piece published in TradeWinds this week. Scrubber debacle proves that going it alone is not the answer "This
Furetank takes on DSD and OH Meling tankers Sweden's Furetank Chartering has added two more tankers to its commercial management operation. OH Meling and DSD's 16,600-dwt Stavfjord and Stav Viking (both built 2009) will be delivered in March. The Gothia Tanker Alliance member said the ice-class 1A ships will trade together with its intermediate vessels. All technical, crewing and quality and vetting management will remain with OSM Ship M
Alafouzos sees rising tide for crude tanker asset values and rates with 2020 in sight Okeanis Eco Tankers executives discuss expectations for market and share latest thoughts on scrubbers.
Fredly's Hunter Group expected to pass on optional VLCCs Arne Fredly's Hunter Group is unlikely to exercise options for three VLCC newbuildings at DSME, it is believed. Fredly sets target for Hunter VLCC pool play with Hartree HHI workers halt wage vote after DSME merger mooted The Group holds an order for eight scrubber-fitted VLCCs at the yard that are costing from $85.2m. However, a decision on the more expensive optional tankers has been del
Irish Ferries goes to court over compensation ruling Irish Ferries lawyers have appeared in Ireland's high court to fight a passenger compensation order arising from a delayed vessel delivery. The owner had to cancel sailings last year because the 50,000-gt WB Yeats (built 2018) was late from Germany's Flensburger yard. It is challenging a January decision by the National Transport Authority (NTA) that it breached EU regulations concerning the rig
Fredriksen moves bulkers from private firm to Golden Ocean in 'bombed out' market Golden Ocean Group is adding 10 vessels to its operated bulker fleet. The owner, which is part of John Fredriksen's stable of companies, will take on commercial management of newcastlemax newbuildings from the shipping tycoon's private vehicle, Seatankers. "We cannot have these ships competing with Golden Ocean," Fredriksen told TradeWinds in an exclusive interview. Golden Ocean chief executiv
Containerships expects better after loss Finland's Containerships is forecasting an improvement in its results this year after slipping to a loss in 2018. The CMA CGM-owned short-sea operator said the net deficit last year was EUR 0.6m ($0.7m), compared to a profit of EUR 0.1m in 2017. EBITDA was down at EUR 13.3m from EUR 15.2m, due to increased bunker costs as oil prices rose. It booked write-offs for intangible assets of EUR 2.3m,
HHI Green Energy plots IPO A Hyundai Heavy Industries renewable energy affiliate is plotting an IPO. IFR Asia cited sources familiar with the matter as saying Hyundai Heavy Industries Green Energy has been in talks with banks about a $200m float. The company was founded in 2011 and provides solar energy.
MarAd: LNG growth could be a boon for US shipbuilders US Maritime Administrator Mark Buzby sees the growth in LNG as an opportunity for US shipyards. Testifying before the House Committee on Transportation and Infrastructure Wednesday, Buzby blamed the struggles of domestic shipbuilders on subsidized foreign competition. But LNG, he said, could be a means for a turnaround. "The global LNG market ... is anticipated to expand over the next 20 years a
PDVSA declares maritime emergency Venezuelan oil company PDVSA has declared a "maritime emergency" after a German shipmanager decided to remove crews from some of its tanker fleet. Reuters cited a PDVSA document and other sources as saying Bernhard Schulte Shipmanagement (BSM) has returned 10 ships to the company because of unpaid fees. It has previously been reported that crews were being removed from the 158,000-dwt suezmax Ri
DNB Bank vows to boost volume of shipping loans with scrapping standard provisions DNB has ramped up its focus on ship demolition standards with 85% of its loans to the industry last year including special requirements for minimum scrapping standards. The figure was released in the bank's annual report which stressed an ambition to further increase the number of loans with such clauses. DNB: provisions are owner-specific not trend-based DNB endorsed the Responsible Ship Recyc
Caterpillar auctioning arrested tanker A Gibraltar-flagged tanker will be auctioned in Trinidad next month at the request of its mortgagee, Caterpillar Financial Services. The admiralty marshal of Trinidad & Tobago has ordered the sale of the 9,100-dwt Olesya (built 2009), which is listed as owned by Jop Shipping. The vessel has been arrested in Trinidad since January 2018 or earlier for repairs to the main engine gearbox, which will
Bjorn Tore Larsen says female seafarers central to guide shipping forward Bjorn Tore Larsen has placed gender equality at the top of the agenda after taking back the chief executive's chair at OSM Maritime. Founder Larsen replaced Geir Sekkesaeter in post last week with the change explained by the former Wilhelmsen and Teekay man wanting a more hands on role. Owner Bjorn Tore Larsen back as CEO of OSM Female faces forge path for tomorrow's leaders Larsen said in a s
Songa Container turns to scrubbers for full fleet Arne Blystad-led Songa Container has decided to install scrubbers across its 15-ship fleet. The shipowner claims it is one of the few tonnage providers in the container feeder segment able to offer liner operators vessels equipped with exhaust gas cleaning systems. NRP buys Hammonia from Peter Dohle and Ernst Russ "Due to the very low penetration of scrubber-fitted container vessels in the fee
Oslo broker Winmar begins to wind down operations China-focused newbuilding broking firm Winmar is set to wind down, TradeWinds understands. The Oslo-based firm has been scaling down its activities since owner Even Winje was hired by shipbroker Galbraith's to work at its offices in the Norwegian capital. Winmar has conducted as many as 40 newbuilding deals for shipowner John Fredriksen. Winje will continue to deal with Fredriksen as a partner
Rosneft ponders LNG bunker vessel for dual-fuelled tankers Russian energy company Rosneft is considering building an LNG bunker vessel (LNGBV) as it expands its gas business. Giving the company's first presentation on gas at London's IP Week, Rosneft commerce and logistics vice president Otabek Karimov flashed a slide showing a 6,500-cbm ship. Sovcomflot inks Rosneft newbuilding supervision pact The specifications listed showed the vessel would be capa
More owners join scrubber pressure group CSA Scrubber advocacy group Clean Shipping Alliance (CSA 2020) has added more big names to its membership. It now has 35 companies on its list, including latest sign-up Wallenius Wilhelmsen. CSA's members now own nearly 2,500 ships, with other recent joiners including German shipmanager Hammonia Reederei, which is being bought by Norway's NRP, US tanker owner International Seaways, Greek company Cha
K Line to tear up charters worth $448m Japanese owner K Line has revealed plans to slash its chartered fleet to boost earnings as losses are forecast to approach $900m this year. The "structural business reforms" include the cancellation of "uneconomical" charters for boxships and small and medium-sized bulkers worth JPY 50bn ($447.5m). It also wants to reduce market exposure and will examine 25 of its fleet-types in the 12 months to
Bharat Sheth: shipping unwanted in India Great Eastern boss Bharat Sheth has come out strongly against new Indian rules giving domestically built vessels priority for state cargo business. He told Hindu Business Line that the right of first refusal (RoFR) policy is of no benefit to owners or shipyards because it is a retrospective measure. The managing director said: "This...has come straight out of the blue. Great Eastern Shipping bu
Capesize owners facing prospect of idling of ships But other industry experts suggest that the market has bottomed out and is set for a rebound.
Jan De Nul completes salvage of Norwegian frigate Belgian company says it developed a "revolutionary lift method" especially for the project.
Sembcorp Marine looks to raise cash with Borr Drilling move Move prompted by concern over Singapore offshore shipyard group's high gearing.
Grieg may have got $1.6m less for green recycling Grieg Star of Norway is believed to be getting a 76% lower price by scrapping an open-hatch bulker in Turkey instead of the Indian subcontinent. Grieg said last month it was selling the 43,700-dwt Star Gran (built 1986) as the first vessel to be demolished in Europe under the European Union's Ship Recycling Regulation (SRR). NGO Shipbreaking Platform highlights beaching death toll The ship, whi
Nisshin bolsters handysize fleet at Jiangmen Nanyang Japanese owner emerges with at least 12 vessels under construction in China
Container shipping has good opportunities, says analyst Lars Jensen says while individual carriers and freight forwarders may be under threat, the industry is not.
"K" Line increases loss estimate for 2018-19 fiscal year Company plans to improve profits by canceling uneconomical charters and "reducing market-exposed fleets."
Tech Connections: Cut ties to paper bills of lading An e-bill of lading service using proven scalable technology can have easy ROI based on prime service revenue, faster delivery, time savings, removal of fraud risk and heightened security.
AD/CVD cases filed on cabinets from China
Tank container fleet grows by 10.8 percent
ALAN offers logistics relief to Southeast storm victims
US inching towards secondary sanctions on Venezuelan crude, product flows: sources Abrams said the US is readying more sanctions on financial institutions, including banks that facilitate crude and refined product trading with PDVSA, as well as additional sanctions and visa revocations of individuals connected to the Maduro regime.
Novorossiisk bunker operations resume as weather eases: sources Bunkering operations at the Russian Black Sea port of Novorossiisk have resumed following a period of bad weather.
OPEC Feb crude output falls 60,000 b/d to 30.80 mil b/d: Platts survey Saudi Arabia's continued output discipline and Venezuela's struggles under US sanctions led OPEC's crude oil production in February modestly lower to 30.80 million b/d, an S&P Global Platts survey of industry officials, analysts and shipping data found.
FUTURES 5: Oil finishes higher as market eyes tightening supply outlook Continued OPEC cuts and a downturn in US rig counts contributed to a tightening supply outlook and drove crude higher Thursday.
External: Global Risk Management
Lower arb volumes, turnarounds lend support to Q2 Asian naphtha complex "Refinery turnarounds in the second quarter this year are expected to be 13% heavier than the same period last year," an analyst said.
US sanctions on Venezuela creating strong pull for HSSR from Europe to USGC An increase in Urals differentials would typically boost the feedstocks market, particularly high sulfur feedstocks such as HSSR.
Med-Japan LR1 tanker rates hit 22-week low on low demand, Black Sea delays "The naphtha arbitrage opportunity is also shut," an LR tanker shipbroker 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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