Ørsted partners with WindServe to build two CTVs at U.S. shipyards Offshore wind leader Ørsted has partnered with WindServe Marine, LLC, a member of the Staten Island, N.Y. headquartered Reinauer Group, to construct two purpose-built offshore Crew Transfer Vessels (CTVs). They will transport
Committee approves Harbor Maintenance bill by bipartisan voice vote The Full Utilization of the Harbor Maintenance Trust Fund Act (H.R. 2440) is among a slate of bipartisan measures approved by voice vote today by the House Committee on Transportation and Infrastructure.
Watco and SCH Services in terminal network JV Watco Companies, LLC, recently entered into a joint venture with SCH Services, LLC, (SCH) to create an inland terminal network in the four rivers area of Illinois-Kentucky capable of handling bulk materials.
ABS publishes new Ballast Water Management Advisory ABS has published its 2019 Ballast Water Management Advisory, providing critical advice to owners in advance of the five-year window beginning September 2019, requiring retrofits of BWM systems on existing ships To
Desgagnés takes delivery of another LNG dual-fueled tanker Canada's Groupe Desgagnés recently took delivery of the fourth and final ship in a series of custom designed LNG dual-fueled oil/chemical tankers ordered from the Besiktas Shipyard, located in Yalova near Istanbul,
Singapore revokes bunker craft operator license Add another to the long list of the many, many things to watch out for when receiving bunkers. The Maritime and Port Authority of Singapore (MPA) has revoked the bunker craft operator
VTA technology now standard on TCA turbos for MAN 51/60 engines MAN Energy Solutions reports that VTA (Variable Turbine Area) technology is now standard on TCA turbochargers for its MAN 51/60 engine type. This is the first time that VTA has been approved
W&D two-tug Moran contract includes options for eight more Washburn & Doughty (W&D)(, East Boothbay, Me., reports that it has executed a new vessel construction contract with Moran Towing Corporation, of New Canaan, Conn., to build two 86' x 36' ASD-Type
Navios Containers inks index-linked charters for two boxships 'Innovative' step adds to company toolbox for dealing with poor market, says Angeliki Frangou
Flex LNG finalises application for New York listing The LNG carrier operator will have dual listing in Oslo and New York if the application is approved
Sovcomflot finalises funding for LNG newbuilds New-generation Atlanticmax LNG carriers backed by $297m financing facility
Venezuelan and Iranian sanctions take toll on crude shipments Average VLCC earnings touched minus $2,385 per day last week, according to the London-based Baltic Exchange, after briefly reaching $3,024...
Don't count on bunker culture overhaul pre-2020 Observers say a misalignment of incentives is driving people to cheat on quality or quantity of bunkers traded and this...
Speed limits will stifle decarbonisation progress, warns Maersk Old and inefficient ships will remain at sea for longer if speed limits are imposed, company warns
Huawei makes inroads in smart ports Chief expert at Haiwei's port development business says digitalisation is an opportunity for ports to achieve organic growth and improve...
Vale halts Brucutu mining operations Vale said full-year sales are currently expected at the bottom to middle of the 307m to 332m tonnes range it...
MPA revokes Southernpec's bunkering licence for tampering with mass flow meter MPA is separately investigating Southernpec for possible breaches of the terms and conditions of its bunker supplier licence
Salvage, a necessity and an afterthought? The salvage industry opens up on what has changed - and what has not - as ships get bigger
Singamas sale raises concerns over PIL Asset sale may not be enough to ward off weight of debt obligations, Alphaliner says
Eagle Bulk's net profit falls amid lower freight rates Company agrees to sell a 2010-built supramax following two vessel sales in the first quarter
Daily Briefing Scrubber lobby sees pendulum swinging their way | Clipper Bulk sheds jobs amid depressed market | Barakah Offshore ties up...
Precious Shipping remains confident IMO 2020 will create a supply-side dividend but slides to first-quarter loss He also pointed to the relatively low forward order book to current fleet percentage as being a positive factor
Maersk's online customs-clearance capability 'threatens forwarders' New platform may prove a threat to freight intermediaries, particularly in the small and medium-sized shipper segment, according to logistics...
DHT Holdings returns to profit Sven Moxnes Harfjeld-led tanker owner sees higher revenue, beats Wall Street consensus.
Genco narrows loss amid improved efficiency New York-listed bulker player 'effectively operated' in face of troubled capesize market, chief executive John Wobensmith says.
Matson sees lower profit amid higher costs Hawaii-based boxship owner is 'off to a solid start', chief executive Matt Cox says.
DSME moves to protect Arc7 LNG carrier technology DSME has written to all parties involved in the construction of its series of 15 Arc7 LNG carriers, asking them not to reveal details of the technology. The move by the South Korean yard group comes in advance of an expected decision on which shipbuilder will be selected by Novatek as its technology partner for a series of specialised vessels at Russia's Zvezda Shipbuilding Complex. The vessels w
Debate at Singapore forum centres on shipping industry disruptions IMO 2020 and the slump in the bulker market are put under the microscope at Singapore shipowners gathering
Tianjin Southwest Maritime doubles its money on VLGC Low-profile owner Billion Gentle tipped as buyer of Mitsubishi-built gas carrier
First KC-1 LNG carriers primed for redelivery post-repairs Containment system developer has '100% confidence' the soon-to-deliver bunker vessels will be problem free
Wan Hai Lines to drop optional newbuildings at Japan Marine United Taiwan-listed Wan Hai Lines is scaling down its spending on new ships. Industry sources said the liner company has elected to not exercise optional vessels it held at Japan Marine United. Last November, Wan Hai signed a newbuilding deal with the Japanese shipyard for up to eight 3,036-teu containerships at $41.4m each, to be delivered in the second half of next year. The contract was for four fi
Capesize futures crash as Trump tweets and Vale ruling sway sentiment President Trump and Vale have contributed to a sharp downturn in the capesize futures market. Capesize FFA contracts for May were assessed 15% lower at $9,875 per day on Tuesday, compared to the previous week's assessment on 29 April. June contracts took an 11% hit and were assessed at $11,625 daily, while July contracts were assessed 10% lower at $12,350 per day. Trump threats to raise China
Mjolner and MID-SHIP team on products fund Partners since 2017 in crude tankers, New Jersey vessel manager and New York bank launch second vehicle focused on clean-products market ahead of IMO 2020.
Varde strikes leaseback deal for Landbridge VLCC US alternative investment firm Varde Partners has acquired a Chinese VLCC in a sale and leaseback deal. The company said it had agreed the purchase of the 308,000-dwt Landbridge Prosperity (built 2016) with Landbridge VLCC International, a Hong Kong-based subsidiary of Chinese industrial company Landbridge Group. Trafigura takes Sandong Landbridge VLCC newbuilding on $40m charter Oak Hill, Vard
Swine flu in China more scary for dry bulk than Donald Trump's trade war An outbreak of swine flu in China poses a greater immediate threat to the dry cargo market than US president Donald Trump's latest trade-war sabre-rattling, Norden says. African swine flu has been sweeping across South East Asia and is now widespread in China after first being detected last August. At the same time Trump has dented hopes of a truce in his long-running tariff spat with China with
Legal eagle Julian Clark exposed rocking in his Crocodile Thong Hill Dickinson head of global marine Julian Clark told TradeWinds about how he looked to music as an alternative career in a candid interview published last week. But that left readers wanting to know more about the musical talents of one of shipping's most successful lawyers. As usual, a Google search came up with all the answers. On Watch has uncovered YouTube footage of Clark strutti
Karadeniz to convert Toisa PSV into powership Turkish group Karadeniz has confirmed it is buying a platform supply vessel (PSV) from the fleet of Greece's bankrupt Toisa. Its Karpowership Americas had been linked by brokers to an auction purchase of the 5,300-dwt Toisa Serenade (built 2008) at $750,000. MOL and Karadeniz team up on FSRUs and powerships MOL and Karpowership set to team up on FSRU for floating power plant A previously repor
Ex Royal Navy 'Bulldog-class' ship lands new luxury cruise role Singapore-based river cruise specialist Aqua Expeditions is poised to enter the deepsea expedition cruise market after buying a ship that comes with a colourful history. The newly announced acquisition, the 1,140-gt Aqua Blu (built 1968) is currently en route to Singapore where it will be refitted to operate as an expedition ship catering to the luxury end of the market. It will be based permane
Anbros Maritime sells supramax, reducing Greek owner's fleet to three vessels Greece's Anbros Maritime reportedly has sold one of its four bulkers. European brokers report that the company's 52,000-dwt Aghia Skepi (built 2002) has gone to a Chinese buyer for $6m, although some claim the price to be as high as $7.2m. The sale of the Sanoyas Shipbuilding-constructed supramax is fuelling questions about future plans of the Greek shipowner, which has not purchased a vessel in
Nations jostle for power at the top of the world Russia and China relations thaw but US will not toe the line on climate when cooperation was needed at Arctic summit
Sempra Energy prepares to fire up Cameron LNG plant LNG carrier newbuilding lines up for new US Gulf coast liquefaction facility
ESL bulker newbuild technical problems "mainly fixed" Finnish owner ESL Shipping has said serious technical faults with its new LNG-fuelled bulkers have been "mainly fixed." The 25,600-dwt Viiki and 23,650-dwt Haaga were delivered last year from Jinling Shipyard in China. But in February ESL said there were "serious technical problems" with their cranes, supplied by Cargotec MacGregor. ESL's new bulkers hit by "serious technical problems" Union f
Great Eastern profit surges as rates soar Indian owner Great Eastern has rebounded back into the black for its fourth quarter as tanker rates spiked. The company said net earnings to 31 March were INR 1.48bn ($21.25m) from a loss of INR 4.19bn in 2018. Revenue grew to INR 10.26bn from INR 8.26bn year-on-year. Crude tanker rates jumped to $21,559 per day from $12,486, while bulkers dipped to $10,389 from $11,852. Product carriers and
Navios Maritime Holdings sells oldest capesize bulk carrier Angeliki Frangou's Navios Maritime Holdings has sold its oldest capesize bulker, sources say. Navios Maritime Holdings sells veteran bulk carrier Ship demolition markets spark to life in 'productive' April The 171,000-dwt Navios Equator Prosper (built 2000) is leaving the fleet of the New York-listed company. Demolition experts believe the vessel is heading for recycling at a time the flow of
Tanker held in North Korean sanctions probe A Russian-owned tanker has been held in South Korea in a probe into alleged illegal transfers of oil to North Korea. The vessel was named as the 2,000-dwt Katrin (built 1987), flagged in Panama, according to the Yonhap news agency. It is docked in Busan. The ship's owner, a Russian national, is denying the allegations. It was inspected twice in joint operations undertaken by South Korea's spy
Sovcomflot seals newbuilding financing with new loan Sovcomflot has secured a new $297m loan facility from a consortium of major banks, with which it plans to finance two newbuildings. Sovcomflot strikes $149m loan for LNG carrier Shipowner Sovcomflot seeks to follow Russian state back to investment grade ING Bank, KfW IPEX-Bank and Credit Agricole Corporate and Investment Bank have provided the funds, which will go towards pre- and post-deliver
Higher costs send Precious into the red Thailand's Precious Shipping has fallen into the red in the first quarter as high costs hurt the bottom line. It logged a net deficit of THB 84.14m ($2.64m), from a profit of THB 107.67m in 2018. Daily operating costs were $4,816 higher than its target of $4,750 and 5% more than last year. Precious boss Hashim calls for wider 'anti-pollution' approach to IMO 2020 sulphur rules This was due to
Top Ships seals suezmax return with twin deliveries completing orderbook Chief executive Evangelos Pistiolis discusses how the deliveries mark an important 'milestone' for the owner
Evangelos Pistiolis reveals he came close to debut LNG carrier order at Hyundai Greek shipowner Evangelos Pistiolis is open once again to diversify beyond the tanker markets despite passing up a chance - for now - to enter the LNG sector, which attracted a host of his compatriots last year. Pistiolis is best known in the industry as chief executive of Nasdaq-listed crude and product tanker owner Top Ships. He has also been involved in other markets, with Top Ships owning bu
Risk chief Julie Galbo leaving Nordea Shipping bank Nordea's head of group business risk management is leaving the lender. Julie Galbo, also a member of the executive management team, will depart at the end of this month. Her role in the executive team ends immediately, however. Galbo joined in 2014 in asset management, before leading the merging of the four Nordea banks in Denmark, Sweden, Norway and Finland. She had an instrumen
Wallenius Wilhelmsen tops forecasts in seasonally weak first quarter Cost cuts and improved operations have driven car carrier giant Wallenius Wilhelmsen to a strong than expected first quarter performance. It marked a strong start to the year for the Oslo-listed company in what is historically a seasonally weak period of the market. Chile hands out final ruling in car carrier collusion case Soft car sales data dents Danske Bank forecasts for Wallenius Wilhelm
Eagle Bulk Shipping sells supramax to Greek owner to extend renewal effort Eagle Bulk Shipping has confirmed the latest step in its fleet renewal programme with the sale of its last Diamond 53 supramax. Eagle Bulk Shipping set to sell supramax in latest fleet renewal move Eagle Bulk soars, Star Bulk plummets in Wells ratings Eagle Bulk stays in the black Nasdaq-listed Eagle was reported to be closing on the disposal of the 53,360-dwt Thrasher (built 2010) in late A
Action needed as bell tolls for Lloyd's old-school City culture Lloyd's reforms of its business and culture is a struggle to drag one of the last bastions of traditional City culture into the 21st century
John Neal's digital revolution at Lloyd's raises questions for marine lines Stage two of reforms at the 331-year-old trading floor could radically change the way in which marine business is done
Next generation takes over at Erik Thun A new generation is taking over the reins at family-owned Swedish tanker company Erik Thun Group. Johan Kallsson has been appointed as managing director after his uncle Anders Kallsson decided to step down. Johan is the son of the late Jan Kallsson, a brother of Anders. Thun charters new eco-tanker to Preem Furetank orders tanker as it ships one out "with mixed feelings" He will run the compa
Navios Containers refinances as profit dwindles Nasdaq-listed Navios Maritime Containers has refinanced existing debt as it revealed shrinking profit for the first quarter. The owner has borrowed $30.2m in order to pay off an outstanding balance of $22.9m. The facility is repayable in 18 equal consecutive quarterly instalments of $0.7m each, with a $17.5m balloon payment on the last repayment date in July 2023. Jefferies: Navios Partners und
Odfjell confirms fleet exits as market improves Norwegian chemical tanker owner Odfjell has confirmed it sold or redelivered four vessels in the first quarter as markets improved. The company said it also renegotiated several time charter agreements at more favourable terms, as well as refusing to extend charters in a historically low rate environment at the end of 2018. Odfjell and Chembulk chemical tankers head to Asia amid strong buying in
New Uni-Tankers CEO Per Ekmann increases focus on time charters New Uni-Tankers CEO Per Ekmann has revealed the company's blueprint for the future as it tightens up its fleet acquisition process. The Danish product tanker company has been refinanced and is now back under the 100% control of tycoon Torben Ostergaard-Nielsen' USTC group, after Danske Bank exited as co-owner. Ostergaard-Nielsen takes back sole control of Uni-Tankers Ekmann told TradeWinds: "We
Swiber judicial managers call on creditors to back Seaspan deal Restructuring likely to result in better recovery versus liquidation scenario, says KPMG.
Fredriksen's Flex LNG inches towards US listing Norwegian shipping titan moves closer to having five companies on New York Stock Exchange.
US claims 'erosion of commitments by China' in trade talks More evidence emerges that trade tensions are re-intensifying, says Deutsche Bank analyst.
USTR says China tariff increase to take effect Friday The agency on Wednesday officially announced that tariffs across $200 billion worth of goods will increase to 25 percent on Friday.
A close-up of the Asia-to-South America trade Container trade from Asia to ECSA has dwindled over the years amid growth on the Asia-to-WCSA trade, but the outlook for both appears positive now that Brazil, South America's largest economy, is climbing out of a recession and China is boosting its ties across South America.
Panama Canal plans another draft restriction Effective May 28 the maximum authorized draft for vessels transiting the canal's Neopanamax locks will be 43 feet, down from 50 feet at the beginning of the year.
Yantian Express to offload containers in Halifax Some shippers have not yet posted general average and salvage security.
Lawmaker: Improve USMCA before consideration House Ways and Means Trade Subcommittee Chairman Earl Blumenauer said consideration of the bill could slip into the next Congress and presidential term.
Harbor fund utilization bill passes House committee The House Transportation and Infrastructure Committee favorably reported the Full Utilization of the Harbor Maintenance Trust Fund Act with one lawmaker voicing opposition.
British Columbia ILWU locals vote on strike authorization Members of the International Longshore and Warehouse Union have been negotiating with employers for 17 months to replace the contract that expired on March 31, 2018.
Executive Moves: Greenhouse gas emissions to robotics
Manufacturers call for reauthorization of Ex-Im Bank
Italy joins calls for Mediterranean ECA zone for bunker fuel Italy has joined calls for the creation an emission control area in the Mediterranean
FEATURE: Global debate on open-loop scrubbers adds to uncertainty ahead of IMO 2020 Many believe scrubbers will split the shipping time-charter market into two tiers.
Singapore's MPA revokes Southernpec's bunker craft operator license The Maritime and Port Authority of Singapore said Wednesday it has revoked the bunker craft operator license of Southernpec (Singapore) Pte Ltd.
Full bunkering operations resume at Malta after poor weather Bunkering operations at Malta have restarted following poor weather and are back to normal
Thailand's Precious Shipping starts bunker tank cleaning ahead of IMO 2020 "LSFO will be the only fuel, other than MGO on our ships," PSL CEO Khalid Hashim said.
REFINERY NEWS UPDATE: Flaring reported as Valero attempts Benicia restart "The Valero Benicia refinery has commenced the startup process, which is a multi-day sequenced event," a Valero spokesperson said.
Colombia's Ecopetrol sees rise in imports, exports of oil products in Q1 The hike in exports goes hand in hand with higher production at Ecopetrol's 165,000 b/d Cartagena refinery.
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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