Union calls for Brexit ferries to have UK crews Union sees the possibility of a World Trade Organisation-rules Brexit as an opportunity to boost employment in the UK
New York port authority completes rail link The Port Authority of New York and New Jersey said the opening of the rail facility would advance its strategic...
Gestioni Armatoriali restructuring deal completed Deutsche is understood to have purchased a $90m non-performing loan owed by Ravenna-based operator from fellow Germans Commerzbank in 2015...
London Gateway turns up Brexit heat to gas mark 5 Former England rugby star Phil Vickery was joined by Michelin-starred chef Barry Vera, who went up against lorry driver Cliff...
New shipbroking venture launches in Singapore TCT Shipbrokers - as the new entity will be known - will in the first instance focus on containership and multipurpose vessel...
North's Dybedal to chair NSOCC
Hanjin Heavy yard in Philippines files for rehabilitation Total assets of the Subic-based yard stood at about $1.64bn
Crude tanker earnings fall amid Opec worries and oversupply There are around 18 newbuilds to be delivered in the first quarter of 2019, with 10 in January alone
MOL Chemical Tankers acquires Nordic Tankers Nordic Tankers will be renamed MOL Nordic Tankers A/S and all existing management and employees will remain in the company
Shipper survey reveals openness to rate premiums Sea-Intelligence compiled its findings via data from online freight platform Cogoport, assessing nearly 800,000 rate offers focused on the Indian...
Daily Briefing China bans open-loop scrubbers in ports | Green sheen dulls ship safety warns ICS | Lloyd's List Weekly Podcast |...
Fatal chemical tanker fire off Hong Kong The 17,500 dwt, 2010-built vessel is owned by Vietnamese firm Aulac Corporation
Singapore to trial methanol as ship fuel Singapore-based Nanyang Technological University and not-for-profit lobby group Methanol Institute are co-funding the project
Excelerate among bids for Philippines LNG terminal project Apart from the PNOC bid, Excelerate is the only company to be taking on the project on its own
Nanjing Tanker plunges on first relisting day The first delisted company in mainland China approved to return to the main board since Beijing resurrected the country's stock...
Sapura Energy wins contracts worth $185m The company expects to see higher utilisation of its assets with the new contracts as it gears up for long-term...
Canadian government to review emergency tug bids The Canadian government will review the procurement process for two emergency tow vessels after complaints by Heiltsuk Horizon Maritime. Nordic American Offshore's future unclear after merger with Horizon called off Tidewater inks long-term deal with Horizon Maritime The company, a partnership between the aboriginal Heiltsuk Nation and Horizon Maritime Services, alleged in August the government
Norwegian wins upgrade from Bernstein Shares for Frank del Rio-led cruise major have been taken to outperform on improved stability in 'uncertain' environment.
Crude tanker rates dropping, but not setting off alarms Crude tanker rates are dropping, but remain at a "healthy" level, analysts say. Spot charter rates have seen big drops from the two-year highs reached in late November and December - with suezmax rates falling by more than half - thanks to Opec production cuts and Saudi Arabia looking to further cut exports. The Baltic Exchange's assessment of time-charter equivalent rates for VLCCs, for example
Weighing up the pros and cons of shipowners' Xmas share buy-back spree The benefits of buy-backs are not clear-cut, says equity analyst, as market capitalisation, liquidity and volatility issues must be weighed against pure balance-sheet mathematics
Brussels raised competition fears around Fincantieri takeover of STX France EU competition watchdog to probe deal, says it could harm cruise ship market
Beijing to limit use of open-loop scrubbers in Chinese ECAs The world's largest maritime trading nation steps up preperations for the IMO 2020.
Oldendorff Carriers ships out brace of veteran vessels German bulker giant Oldendorff Carriers is selling its two oldest ships for further trading. Fredriksen heads the field on newcastlemax bulker projects Global bulker giant Oldendorff flourishes as S&P strategy propels growth The 77,000-dwt specialized selfunloaders Carol (built 1990) and Berni (built 1991) have been sold to an undisclosed Chinese owner for a land reclamation project. TradeWind
Big name trio join Baltic Exchange Council Guy Hindley, Denis Petropoulos and Andy James replace Lambros Varnavides and John Hadjipateras
Norwegian orders two ships for Oceania Cruises Frank del Rio-led cruise major will spend €1.15bn ($1.46bn) to launch both 1,200-guest vessels as part of new Allura Class focused on upscale market.
EU wants Italy, Spain to toe line on port tax The European Commission (EC) has proposed that Italy and Spain align their taxation of ports with state aid rules. In Italy, ports are fully exempt from corporate income tax, while in Spain, they are exempt from corporate income tax on their main sources of revenue, such as port fees or income from rental or concession contracts. The EC said this can provide them with a competitive advantage in
Fednav strives to stay ahead with next phase of newbuilds Canadian bulker owner joins forces with Japanese shipyards to develop 'generation four' vessels
Japan gives A-bomb certification to Korean yard workers A Japanese district court has awarded official certification as atom bomb survivors to three South Korean men who said they were forced to work at shipyards there during World War Two. The Mainichi daily said this appeared to be the first ruling of its kind. The men, now in their 90s, will be known as "hibakusha", due to being present in Nagasaki when the US dropped the bomb in 1945. The ruling
Late flurry lifts 2018 newbuild haul past 1,000 ships Newbuilding orders in 2018 snuck above 1,000 ships following a late rush of activity, according to data from Clarksons. Tanker spike keeps S&P at near record levels Bumper year for LNG carrier orders as 2018 tally passes 60 Samsung ends 2018 on a high with LNG carrier number 18 It counts 1,017 new ships contracted by the close of last year, down from the 1,155 vessels put in the book in 2017 b
Bondholders sue HSH over privatisation 'losses' German group alleges value of capital instruments depressed by lender ahead of sale to new owners.
Fincantieri and Scenic Cruises circle Uljanik Two potential buyers carry out due diligence on trouble Croatian yard group.
MOL suspends master after drinking reports Japanese company says it is conducting an investigation into captain's conduct on day of collision.
Hornbeck aims to swap $200m of notes for new loans Hornbeck Offshore Services (HOS) is trying to stretch its debt maturity by launching a new notes exchange offer. The US OSV player wants to swap up to $200m of its 5.875% bonds due next year for term loans expiring in 2025. Clarksons Platou: more OSV mergers on the horizon These will carry interest of 9.5%. The loans will be guaranteed by second-priority interest in the collateral securing the
Baillie Gifford takes even bigger position in Kirby Corp Scottish investment manager Baillie Gifford & Co has more than doubled its stake in Kirby. According to Securities and Exchange Commission filings, Baillie Gifford bumped up its position in the New York-listed, Houston-based offshore player to 12.84% from 5.25%. Kirby Corp scoops CGBM 100's fleet The firm now owns 7.7 million shares, up from 3.1 million. Kirby is one of two maritime companies
Sentinel Marine spending $46m on newbuildings Aberdeen owner Sentinel Marine is spending £36m ($46m) on three new emergency response and rescue vessels (ERRVS). An unnamed Chinese yard is building the trio, named Cromarty Sentinel, Trafalgar Sentinel and Viking Sentinel. The move creates 80 jobs for the owner. The vessels will be delivered by the end of 2020. Rory Deans, chief executive of Sentinel Marine, said: "This is a speculative inv
Canadian niche player McKeil Marine moves into tankers Ontario company reported to have bought vessels from Turkey's Transal
Goldenport Shipmanagement returns to Cosco for pair of ultramax bulker newbuildings Dragnis family books two vessels at Chinese giant's Yangzhou yard
Clarksons shares continue 2019 rebound after Pre-Close trading update Shipbroker sees stock price recovery extended after trading update this morning.
Tanker owner Uljanik seals $25m loan Croatian owner Uljanik Plovidba has signed a $25m loan deal to refinance previous debt. An unnamed overseas lender is providing the cash to pay off loans linked to vessels, it told the Zagreb stock exchange. In November, the company said it had arranged more refinancing to lower its costs. It added that remaining funds needed to refinance an existing facility would be secured from alternative s
Tanker FFA volumes up 20% in 2018 Tanker forward freight agreement (FFA) volumes jumped 20% in 2018, according to Baltic Exchange figures. Derivative volumes hit 321,962 lots last year, it said, while the bulker figure was up 1.4% at 1,196,929 lots, the most since 2008. Dry options volumes rose by 44% to 268,976 lots - similar levels to 2016. A lot is defined as a day's hire of a vessel or 1,000 metric tonnes of cargo. Panamax
Drugmaker drops oil trading business after six months of massive losses Less than six months after entering the business, Vistin Pharma is closing its energy trading operation after racking up almost $12m in losses. IMO 2020 focused trading fund suffers major loss Shipping leaders start countdown to IMO 2020 The Norwegian drugmaker, which specialises in producing diabetes medication, started its oil trading operations in September 2018. The unit aimed to take adva
Clarksons Platou: more OSV mergers on the horizon Analyst tips Tidewater, Scorpio and Harvey Gulf to be active in 2019.
MOL Chemical snaps up Nordic Tankers from private equity owner Deal with Triton creates 75 ship chemical tanker vehicle.
Tufton Oceanic Assets plans C shares conversion as growth efforts accelerate Move comes after capital raised in October has been largely invested.
James Fisher takes over UK and Saudi companies for $17m UK tanker and marine services group James Fisher is expanding again with takeover deals worth £13.1m ($16.7m). It has agreed to buy 100% of Martek Holdings in the UK and 60% of Saudi firm Murjan Al-Sharq for Marine Contracting (MSMC). Martek is costing '9m, with another '1m potentially due depending on profit targets for the year ending 28 February 2020. It was founded in Rotherham in 2000 and
JJ Ugland: 2018 a better year after bulker boost Private Norwegian shipowner JJ Ugland has enjoyed a stronger 2018 after bulker markets improved. It said that following two years of imbalance and weak shipping markets, conditions came closer to a balance last year. "Overall, 2018 has been better for us than the previous two years," it added. The sector showing most improvement was the dry cargo market, where stronger rates paved the way for a
Diligent Holdings ups ante in supramax market with Queen Greece's Diligent Holdings has added a fourth supramax to its steadily growing fleet, a year after entering the segment. The 58,100-dwt Queen Halo (built 2010) joined the company's fleet last month under its new name Queen, Equasis shows. Brokers had reported the vessel's sale last October for about $15.3m, but the identity of its buyers was not revealed at the time. Supramax purchase shows in
Z&G Halcoussis emerges with Densan supramax bulker Traditional Greek company makes its first sale-and-purchase move in five years
Tanker scrapping hits highest level in over 30 years VLCC and aframax segments proved most active as cash buyer GMS puts total demolition value in South Asia alone at $1.5bn
Former CSIC exec Sun Bo arrested in China Ex-China Shipbuilding Industry Corp (CSIC) executive Sun Bo has been arrested in China on suspicion of bribery and abusing powers. The Xinhua news agency cited the Supreme People's Procuratorate as saying that the former general manager and deputy chief of the leading Party members' group at CSIC was held after the completion of a probe by the National Supervisory Commission. The case has been h
Hanjin yard files for rehabilitation in Philippines Korea's Hanjin Heavy Industries & Construction (HHIC) has said its Philippines shipyard has filed for rehabilitation. In a regulatory filing, the shipbuilder said HHIC-Phil, which operates the Subic yard, will carry out an insolvency scheme. Orders have been tailing off as owners remain cautious on newbuildings in most sectors. The yard was founded in 2004 and has 16 vessels - 14 aframaxes and
One dead as chemical tanker suffers explosion off Hong Kong Authorities say police craft, fireboats and government helicopter deployed in rescue effort.
Panama Canal trims one foot off allowable transit draft Authority says ships exceeding new requirements may be forced to off-load cargo to pass.
POSH picks Contractor to lead subsea division Former Kreuz Subsea chief executive rejoins industry with role at Robert Kwok-backed outfit.
Borneo Bulk crew sends SOS to ITF over abandonment Crew of Malaysian-owned general cargoship seek to secure back pay
EU urged to include Indian subcontinent recyclers on approved list As updated list of approved EU recyclers kicks in, top names push Brussels to judge applicants on merit and not location
Commentary: OTI licenses frozen by shutdown Newly minted entities that had hoped to begin offering forwarding and NVO services at the start of 2019 are stuck until the FMC can resume issuance of licenses.
Number of containership fires is 'shocking' Allianz consultant is concerned that risk is being normalized in the shipping industry.
Union Pacific stock climbs with COO announcement Jim Vena, a 40-year veteran of Canadian National, is joining the U.S. railroad on Monday.
Port Jersey rail facility opens to fanfare
Executive Moves: ProTrans and GTMaritime
OIA Global hires former TRAC CEO
Retail imports level off after rush to beat tariffs
Bosporus reopens after being closed by snow: sources The Bosporus reopened to southbound vessels Tuesday afternoon after being shut
US weighs Venezuela sanctions as output forecast to fall below 1 mil b/d The US issued new Venezuela sanctions Tuesday ahead of the inauguration of President Nicolas Maduro
Wood Mackenzie sees buoyant North Sea exploration, M&A prospects The North Sea oil industry is set for a recovery in exploration drilling and healthy levels of mergers and acquisitions this year
Fuel oil traders lease storage in NWE to secure tankage before IMO 2020 The softening backwardation in the Northwest European fuel oil market has begun to make traders inquire and obtain storage tanks' contracts in the region
FUTURES: Crude strengthens on trade talks progress, weaker dollar
NWE fuel oil sinks to negative territory on ample cargo availability The 3.5% FOB Rotterdam barge physical to paper fuel oil structure has softened
REFINERY NEWS: Sweden's Lysekil operating normally after glitch resolved: sources
Bosporus Strait shut due to heavy snow: sources The Bosporus Strait -- linking the Black Sea and the Sea of Marmara -- had been shut as a result of heavy snow
Nigeria's NNPC says on course to end gasoline imports by end-2019
External: Marine Bunkering(Rotterdam)B.V.
OUTLOOK 2019: Growing LNG marketplace to drive spot shipping rates in 2019 For 2019, the spot market will be equally strong or even stronger than what we have seen in 2018
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