Coldharbour Marine names Don Stephen CEO Don Stephen has been appointed Chief Executive Officer of U.K.-based Coldharbour Marine, which manufactures an in-tank ballast water treatment system (BWTS) based on inert gas technology. Stephen's career includess technical and leadership
Jensen to design new series of Moran tugboats Jensen Maritime Consultants, the Seattle-based naval architecture and marine engineering subsidiary of Crowley Maritime Corp., has been awarded a contract to design ship assist and escort tugboats for Moran Towing Corp., New
Foss names Sloane Perras to leadership role Foss Maritime Company reports that Sloane Perras has joined the company as Vice President, General Counsel & Chief Ethics Officer. Perras will lead the company's Legal and Risk Management Group where she
Treasury targets tanker as Venezuela sanctions tighten The Department of the Treasury's Office of Foreign Assets Control (OFAC) on Friday designated two companies operating in the oil sector of the Venezuelan economy as subject to U.S. sanctions. Additionally, OFAC
ABS opens Global Sustainability Center in Singapore A new ABS Global Sustainability Center, located in Singapore, is the flagship of the classification society's sustainability activities world wide. Led by Gurinder Singh, ABS Director of Global Sustainability, the center includes
NAPA and Carnival Corporation extend service agreement Helsinki, Finland, headquartered maritime software specialist NAPA and Carnival Corporation have extended a comprehensive agreement covering comprehensive services for the Onboard NAPA Loading Computers in Carnival cruise ships, training certification for Carnival's
Marine insurers monitor Libya as crude exports stall Although the threat of another civil war in Libya is extremely high, marine insurers have not issued any warnings about...
Financiers play shipping waiting game Most shipping sectors will see more consolidation driven by rising business costs and increased digitalisation efforts
BIMCO hits out against 'protectionist' EU ship recycling regulation BIMCO's Angus Frew says it is hard to take the list of EU-sanctioned recycling yards seriously
Africa free trade bloc could boost shipping demand 'Any move towards free trade is good for global economics and shipping. We expect this to be a small net...
Matthieu de Tugny leads BV's marine division into new thinking on class Bureau Veritas's EVP marine and offshore is looking to work in collaboration - rather than in partnership - with clients...
Scorpio Bulkers engages in sale and leaseback deal with Ocean Yield Scorpio Bulkers will bareboat charter the vessels for 11 years with purchase options after the fourth year
Nordic American Offshore secures new credit and pushes back debt payments The Scorpio Group-led firm extends $150m credit facility waivers to January 2020 and secures new credit
Synergy continues to value add to the maritime industry Third party ship management is playing an increasingly important role in a demanding and changing environment
Microsoft fund invests in Nautilus Labs Nautilus provides a technology platform for shipping that helps minimise fuel consumption and improve operational efficiency and fleet performance
Hanjin chairman dies in Los Angeles Former Hanjin Shipping chairman and head of the Hanjin Group dies at the age of 70
Shipowner trade bodies to extend co-operation As the regulation of shipping becomes more globalised, regional shipowner groups are coming together to support each others' efforts
Gulf of Guinea piracy threat persists Piracy declines globally but Gulf of Guinea accounts for more than 50% of incidents
Western Bulk pins hope on second half turnaround The dry bulk market has started 2019 with a more 'sober tone' following a disappointing fourth quarter, says Western Bulk's...
Ariel Re poaches Martin from Tokio Millennium Mr Martin has spent more than three decades in marine insurance, most recently at Tokio Millennium Re, where for the...
Customers concerned over carrier concentration Lack of pricing transparency and poor schedule reliability are the top gripes among container line customers, survey reveals
Daily Briefing Indian elections: Riding the LPG wave | Bang to rights | Exclusive interview with Khalid Hashim | The Lloyd's List...
From the Lloyd's List Newsdesk A weekly insiders' guide to the stories shaping shipping
Colón leads in container throughput for Latin America, Caribbean Brazil contributed the most to the region's total volume of cargo with 10.4m teu, followed by Mexico, 6.98m teu; Panama...
US targets PDVSA-linked ships and oil companies with more sanction efforts Cuba is a major importer of crude oil from Venezuela and sends political advisers, intelligence and military officials to that...
Eastern Pacific Shipping MaritimeTech Accelerator scheme opens to applicants Dhritiman Hui, who has spent several years in the maritime and investment sector, has been appointed as the managing director...
Maersk Tankers posts loss in tough product market It was tough going for Maersk Product Tankers in its first full year as a privately-held company. The Danish shipowner posted a loss before tax of $35m (DKK 232) amidst low spot market rates, it announced in its annual report released Monday, despite revenue growing to $647m. In a statement, chief executive Christian Ingerslev said the company worked to create "sustainable, long-term profitable
Seaport Global drops shipping coverage Three years after declaring dream team in place to tackle sector's capital markets, there are now questions whether SGS continues after apparent split with analyst Magnus Fyhr.
EU recycling list smacks of protectionism, says Bimco Only one-third of approved list "realistically open" for ship scrapping
Think tank fires billboard broadside at Jones Act A libertarian think tank is taking its fight against the Jones Act to the streets. Washington-based Cato Institute has rented two billboards on interstate highways near Newark Liberty International Airport in northern New Jersey and in the northeast Bronx, blaming the nearly-century old law for creating traffic jams while directing drivers to BlameJonesAct.com. "Less than 5% of the volume of US
Diana Shipping bulker gets contract extension at a lower rate Uniper Global Commodities has extended its charter of one of Diana Shipping's post-panamax bulk carriers. The Dusseldorf-based commodity trader has stretched its contract for the 87,146-dwt Phaidra (built 2013) for another 14 to 16 months, commencing on Thursday. The gross charter rate is $10,800 per day, minus a 5% commission paid to third parties. "This employment is anticipated to generate
ITIC warns brokers after email scams UK insurer International Transport Intermediaries Club (ITIC) has warned brokers and agents to be on their guard following cases of email fraud. It cites the case of a shipbroker that received an emailed freight invoice from an owner for $120,000. ITIC defends broker accused of breach of authority ITIC: Expert sued over 'arson' casualty report The bank account detailed in the invoice was the s
Samsoe Kommune orders ferry in China Danish owner Samsoe Kommune has inked a new ferry order in China. Brokers said the 296-passenger ship will be constructed at Afai Southern. The 300-gt unit is set for delivery in May 2020. No price was revealed. Samsoe has one other ferry built in Poland in 2015.
Belships dismisses reports of second bulker buy in two weeks Oslo-listed Belships denies reports it has bought a second ship in quick succession. Belships buys first bulker since merger with swoop for Wenaas Shipping supramax Soren Greve heads back to Fearnleys as global S&P chief Brokers are connecting the company to the 58,000-dwt Amis Leader (built 2010) from Wisdom Marine. A price of $13m is being placed on the Tsuneishi Zhoushan-built vessel. L
Shippers' frustrations grow with boxship lines Satisfaction levels with container lines are falling among shippers, according to a new survey from consultancy Drewry and the European Shippers' Council (ESC). A poll of exporters, importers and freight forwarders shows a small drop in overall happiness with the service they are receiving. Short sea lines could ride to Brexit rescue IMO 2020 costs to spur liner mergers? The average rating by
Swedish Club slips into the red following investment losses The Swedish Club has recorded a $5.2m deficit for 2018 following a slump in equity markets toward the end of the year. The Gothenburg-based marine insurance mutual said its annual combined ratio was 99%, indicating an overall underwriting profit. Upgrade by S&P Global gives Swedish Club extra credit Swedish Club reveals stalled income growth However, investment returns declined resulting in a
Teekay chairman Sean Day steps down but hunger for shipping remains From Cape Town tugs to VLCCs, it's been a great ride, says Day - and there may be more still to come
Crowdfunding shipping platform Marvest strikes again German crowdfunding platform Fintech Marvest has launched its second ship-financing project. The company said it was seeking investors to raise EUR 350,000 ($394,000) to back the 5,800-dwt general cargoship FL Levante (built 2005). Germany's first crowdfunded shipping project launches The vessel appears to have been acquired from Donau HS Schiffahrts by FL Schiffahrt, on whose behalf Marvest is
Scorpio Bulkers and Ocean Yield seal double ultramax sale and leaseback Ocean Yield has acquired two China-built ultramaxes from Scorpio Bulkers, which will be leased back to the Monaco-based company. The 63,700-dwt bulk carriers SBI Libra and SBI Virgo (built 2017) will be acquired for $42m en bloc, net of seller's credit, the companies said on Monday. Scorpio Bulkers seals seven-ship sale and leaseback deal Scorpio grabs Navig8 Product Tankers Both vessels wil
Wan Hai Lines hurt by higher boxship costs Profit at Taiwan's Wan Hai Lines has been pegged back by rising operating costs. The boxship owner said net earnings dipped to TWD 1.13bn ($36.63m) last year, compared to TWD 2.55bn in 2017. Revenue rose to TWD 66.77bn from TWD 60.76bn year-on-year. But total operating expenses were higher at TWD 61.77bn, versus TWD 53.65bn in 2017. Earlier this year, Wan Hai said it would not exercise options
Western Bulk raising equity to meet bond repayment Western Bulk has obtained a fresh tranche of financing, which it plans to use in repaying the balance of its NOK 300m bond, according to its 2018 report. A total of $15m (NOK 128.7m) in equity will be raised, which will be guaranteed by the Oslo-listed company's two main shareholders, Kistefos and Ojada. The cash will be used to repay the NOK 271m outstanding from the bond, which is due to matur
Norwegian classification society DNV GL sees full-year earnings rise Shipping's largest classification society DNV GL has reported an improvement in profit and revenue despite a "challenging" market in 2018. According to its end of year figures revenue increased slightly to NOK 19.6bn ($2.2bn) in 2018 compared to NOK 19.4bn in the previous year. DNV GL says 'carbon neutral' fuels need to replace oil to facilitate IMO goals Video: DNV GL's Knut Orbeck-Nilssen
James Fisher makes second subsea swoop UK owner James Fisher has reportedly snapped up its second subsea support ship this year. The 4,400-dwt Altus Uber (built 2007), the former Siem Swordfish, has been acquired for $24m, VesselsValue said. James Fisher linked to $20m Toisa OSV VesselsValue, which valued the ship at $23.6m, added that the unit had previously been working off Mumbai, India. It is understood it will shortly relocate
Shell and Total come clean on IMO 2020 compliant fuel plans Two leading oil majors say they'll be ready with low sulphur fuel blends, but still keep mum on pricing levels.
Paolo d'Amico acknowledges green gamble as IMO 2020 roulette wheel spins Has IMO 2020 turned shipping into a casino? You bet it has, and here's why tanker owners must shoulder some of the blame
Houston Ship Channel closed again as storm hits clean-up operations The Houston Ship Channel was shut again on Sunday as a storm hit clean-up operations following an explosion and spill at a petrochemicals plant last month. Houston Ship Channel fire clouds outlook for Stolt-Nielsen Bloomberg cited Mitsui & Co's Intercontinental Terminals Company (ITC) as saying all outbound vessels from the northwest end of the waterway were halted and inbound traffic was limite
Frontline sees shares spike as Pareto Securities predicts tanker turning point John Fredriksen's Frontline saw its stock spike in Oslo on Monday after an upgrade from Pareto Securities, which believes a decisive turning point in the tanker market is pending. Frontline, which has experienced a strong share-price performance this year, saw almost 7% added to its market value this morning after Pareto raised its rating to buy. John Fredriksen's Frontline excited by upside-dow
Vroon charters OSV trio to BP Vroon Offshore Services (VOS) in Aberdeen has been awarded a "major" new contract with BP in Trinidad and Tobago. The Dutch-owned company will provide three emergency response and rescue vessels (ERRVs) to support the oil major's operations there. Vroon wins walk-to-work contract with Total Cancelled Vroon AHTS resold in China The multi-year, multi-million-dollar deal is a "significant milesto
Gourdomichalis-backed Blue Wall sells ageing bulker pair Gourdomichalis brothers' company Blue Wall Shipping has sold its second bulker in as many months, shaking off the oldest tonnage in its eight-ship fleet. London-based brokers report that the company has sold the 52,500-dwt Defiant (built 2001) for $6.25m. Contacted by TradeWinds, an official at Blue Wall said the company declined to comment on third-party reports. The manager also declined to
Cosmoship Management picks up Bocimar handysize trio Greece's Cosmoship Management is emerging as the buyer of a handysize bulker trio sold by Bocimar of Belgium. The Saverys family company confirmed broker reports it has agreed to sell the Chinese-built trio for $27m in total. It declined, however, to comment on the buyers. The trio consists of the 33,500-dwt CMB Giulia (built 2012), the 32,700-dwt CMB Adrien (built 2011) and the 32,600-dwt CMB C
Intra-regional trades to prosper in face of geopolitics Trade problems caused by Trump and events in Europe mean eyes will turn to other regions.
Algoma linked to dual-fuel tanker buy Canada's Algoma Central Corporation has been identified as the buyer of a modern dual-fueled tanker sold by Sweden's Furetank last week. Brokers said the 18,000-dwt Fure Vinga (built 2018) has gone to the Canadian owner for an undisclosed price - its third raid on the second-hand markets in a matter of months. Algoma has been contacted for comment. Furetank orders tanker as it ships one out "wi
Little room left for big mergers in the liner sector Ocean Network Express chief executive Jeremy Nixon says attention will turn to small niche market players as the number of large carrier candidates dwindles.
Nordic Shipholding sees veteran tanker sale fall through Nordic Shipholding has seen the sale of a veteran tanker fall through. Nordic Shipholding offloads veteran handysize tanker The Danish company announced in February is was ready to offload the 35,800-dwt Nordic Ruth (built 2000). This morning, Nordic Shipholding said the sales memorandum was now null and void after the buyer did not pay the deposit. Chairman Knud Pontoppidan could not be reach
Arne Fredly's Hunter Group plots private placement as it closes in on debt financing Arne Fredly's Hunter Group is lining up a fresh private placement to cover newbuilding installments. Maritime & Merchant Bank seeks more deals after profitable start to 2019 Fredly's Hunter Group expected to pass on optional VLCCs Fredly sets target for Hunter VLCC pool play with Hartree It comes as the VLCC specialist is closing in on debt financing for the project in South Korea. Oslo-list
Hanjin chairman Cho Yang-ho dies at 70 Hanjin Group chairman Cho Yang-ho has died at the age of 70. Group company Korean Air said in a statement he had passed away in Los Angeles on Sunday, without providing further details. Arrest warrant denied for Hanjin's Cho Cho succeeded his father in 2003 as head of the Hanjin Group. But his later years were mired in controversy as Hanjin Shipping collapsed in 2016 and Cho faced charges of c
Cargoship crane collapse kills two in Indonesia A crane collapse on a general cargoship has killed two dock workers in Indonesia. The accident on the 1,800-dwt Bistari 8 (built 1984) happened on Thursday at Pontianak, iNews reported. The men who died were aged 40 and 41. One was hit by the crane, while the other fell trying to avoid it. They were loading iron plates at the time. The vessel is operated by Bistari Grup of Indonesia.
Cosco bags Jan de Nul jack-up vessel order Belgian owner Jan De Nul has ordered a next-generation jack-up vessel in China. The Voltaire will be delivered from Cosco Shipping Heavy Industry in 2022 and will have crane capacity for bigger offshore wind turbines. Jan De Nul completes salvage of Norwegian frigate It has been designed to transport, lift and install turbines, transition pieces and foundations. The unit will have a 3000-tonne
Greek tanker caught up in Venezuela sanctions net OFAC's list of PDVSA-owned ships The US has blacklisted a Greek tanker and its owner and operator for alleged links to Venezuela's oil sector. The US Treasury Department's Office of Foreign Assets Control (OFAC) designated the 72,000-dwt Despina Andrianna (built 2000) as "blocked property" for delivering crude oil from Venezuela to Cuba during February and March of 2019. The agency also blackli
Singapore and Malaysia call truce in maritime dispute Neighbours implement first of five point plan designed to resolve stand-off over port limits.
Brazil's crude exports to China show year-on-year surge Volumes expected to increase further due to expanding refinery capacity and OPEC cuts, says Gibson.
Veronica takes its toll on Pilbara iron ore exports However, year-to-date shipments are said to be largely unchanged from a year ago.
McAleenan named acting Homeland Security secretary President Donald Trump on Sunday named Customs and Border Protection Commissioner Kevin McAleenan as acting DHS secretary following the resignation of Kirstjen Nielsen.
Global Port Tracker: U.S. retail imports on the rise Monthly retail imports are expected to grow to nearly 2 million TEUs in August, which would be the most since October, according to the monthly Global Port Tracker.
Treasury attempts to scuttle Venezuelan oil shipments The Office of Foreign Assets Control added sanctions against two shipping companies and their vessel for transporting crude oil from Venezuela to Cuba.
Drewry: 'Key ingredients' for strong terminal alliances To date, only three ports - Miami, Colombo and Hong Kong - have announced plans to form alliances.
US crude inventories likely higher on strong production, imports: survey US crude inventories likely climbed last week amid a continued increase in production and a rise in imports, according to analysts surveyed by S&P Global Platts Monday.
Oman awards onshore exploration block 12 to Total Shell said it plans to use the gas from the project for a gas-to-liquids plant, while Total's plans include building and operating a liquefied natural gas plant to provide marine bunkering services.
Oil market reaching supply-demand balance: UAE energy minister His comments came as crude oil futures rose in mid-morning trade in Asia on Monday, reaching their highest level since November 2018 on the back of continued OPEC output cuts and intensifying geopolitical tensions in Libya.
FUTURES 5: Crude futures settle higher on Libya conflict, output cuts NYMEX crude outpaced Brent because any decline in Libyan crude production would increase demand for US light, sweet crude exports.
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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