MSC making progress in North Sea clean-up MSC says that MSC Zoe lost more than 250 containers overboard during a storm last week in the North Sea
Polaris to install seven scrubbers Polaris has an operating fleet of 37 vessels with 18 very large ore carrier newbuilds on order
Ports warn extending EU reporting chain will cause throughput delays EU port and shipowner lobbies mobilise ahead of a crucial European Parliament committee vote this week
US box imports level off after rush to beat tariffs Volume growth in US box imports was recorded at 2.5% in November, while in December growth was estimated at 3.7%...
GasLog on course for 2022 target with Cheniere brace Ordering flurry keeps company on course to double group business by 2022
IMO amends bunker delivery notes ahead of 2020 sulphur cap The changes under the IMO's MARPOL treaty helps prepare the industry for the upcoming 2020 sulphur regulations
Timing right for DCT Gdansk sale? Macquarie's infrastructure fund plans to divest its interest in the Polish container terminal DCT Gdansk and already has a suitor...
ICTSI secures Sudanese port concession ICTSI Middle East DMCC will operate, manage and develop the South Port Container Terminal
Angelicoussis takes up option for FSRU Order for group's LNG shipping arm, Maran Gas, adds a second FSRU to its tally of newbuildings at DSME but...
Brightoil link to detained VLCC in China Court says the arrest was requested by a French bank that has provided the shipowner with $45.5m in loans, of...
Tsakos Energy Navigation agrees product tanker charters Double 36-month charter with anonymous oil major will generate a minimum of $33m in gross revenues
Daily Briefing MOL Chemical Tankers acquires Nordic Tankers | Singapore to pilot methanol as ship fuel | London Gateway turns up Brexit...
Hong Kong terminal operators agree to collaborate The Hong Kong Shippers' Council says it has 'deep concern over the negative impact on competition' of the alliance.
Idan Ofer finalises BW chemical tanker fleet acquisition The deal makes Ace-Quantum the largest player in the chemical tanker shipping sector in the Pacific, creating a fleet of...
US Representative Peter DeFazio to take key infrastructure position As chairman of the House Transportation and Infrastructure Committee, DeFazio is positioned to ensure climate considerations are included in US...
Su seeks to move on $2bn claim against Vantage Drilling Taiwanese shipowner continues fight against driller's bankruptcy as he seeks claims against the offshore company
Bouchard adds more insurers to $21.5m lawsuit New York-based tug-and-barge owner is pursuing five insurers for claims related to an October 2017 explosion aboard an articulated tug barge
MSC set for largest boxship newbuilding intake in 2019 Diego Aponte's Mediterranean Shipping Company is set for the largest newbuilding influx among leading container lines this year, according to data from Alphaliner. MSC is expecting delivery of 20 new ships in 2019, well ahead of rivals Maersk Line, and CMA CGM. Maersk in advanced talks to ink feeder boxship deal AP Moller-Maersk chief strikes takeovers and big boxship orders off the menu for 20
Evergas sale comes amid Jaccar effort to tackle unprofitable lines of business Jacques de Chateauvieux has moved to tackle losses for his Jaccar Holdings with the sale of all eight of its Evergas ethylene carriers. TradeWinds reported on Tuesday that Denmark-based Evergas is selling the octet to partners in the Unigas pool in a deal worth an estimated $204m. Partners Bernhard Schulte, Sloman Neptun and Ultragas are reportedly paying between $25m and $26m for each of the 12
Politics, lobbying and location should not sideline Indian shiprecyclers Europe can play key role in stimulating improvements for subcontinent's shipbreakers
Excelerate fires up US offshore terminal with Russian cargo US regasification specialist Excelerate Energy is shipping a cargo of Russian LNG into its underused Northeast Gateway Deepwater Port terminal off the US east coast. The company's 151,072-cbm floating storage and regasification unit Exemplar (built 2010) arrived at the offshore buoy, which is sited 21 kilometres (13 miles) off Massachusetts Bay near Boston. Eight line up for Lebanon FSRU trio T
Bimco: EU, China and US must do more to counter piracy Shipowners organisation Bimco has urged the EU, US and China to do more to combat the rising scourge of piracy off West Africa. About 40 ships have been attacked in the Gulf of Guinea in the past 12 months. "We look towards the EU, China and the United States to join forces and deploy naval capacity in the Gulf of Guinea to end this constant threat to seafarers," Jakob Larsen, Bimco head of mari
Diana gets buyback go-ahead Diana Containerships has the go-ahead to buyback nearly a third of its shares. The Greek boxship owner said its board of directors had signed off on a plan allowing it to repurchase $6m of its 14.93 million shares. Wednesday, Diana stock closed at $0.79. At current prices, the plan would allow the buyback of 4.7 million shares, or 31.7%. Should the company more forward with buybacks, it will d
Clarksons Platou: Hornbeck debt swap a "first step" A $200 debt-swap plan by US OSV owner Hornbeck Offshore Services (HOS) is a "first step" in addressing maturity issues, according to Clarksons Platou Securities. The company announced an offer on Tuesday to exchange some of its 2020 notes for new loans maturing in 2025 at higher interest rates. Turner Holm, Clarksons Platou Securities' managing director of equity and credit research, said that,
Laskaridis' Lavinia Corp makes rare tanker purchase Family flagship replenishes fleet of small product carriers with 18,000-dwt vessel
Technomar quitting capesize market with demolition deal Greek owner Technomar Shipping is believed to be selling its only capesize bulker for demolition. Tanker scrapping hits highest level in over 30 years European scrap brokers say the 150,000-dwt Mamitsa XL (built 1995) has been sold as is in Singapore for demolition in Bangladesh. The vessel is reportedly fetching some $420 per ldt or $7.7m. Technomar did not respond to requests for comments.
James Fisher linked to $20m Toisa OSV UK shipowner James Fisher has been named as the buyer of an OSV sold by Greece's bankrupt Toisa group. Brokers said the 103-loa laid-up diving support vessel (DSV) Toisa Paladin has gone for $20.3m. Toisa fleet sale cash to go towards settling $542m claims Court documents filed by Toisa as part of its US Chapter 11 restructuring revealed a deal had been agreed at $20.35m, with completion expect
Samskip to build two autonomous hydrogen boxships Seashuttle project will see emissions-free vessels partly funded by Norway.
Mehrotra: 'I'm the world's most famous shipping face' Move over John Fredriksen, there's a new shipping sheriff in town. Ravi Mehrotra, chairman of expanding London-based Foresight Group, believes he is the most well-known shipowner globally. When asked about his group's worldwide presence during an interview with CNBC in India, he said: "Without trying to blow my own trumpet, but I'm the most famous face in shipping in the world today." Embed: Sh
Tidemand appeals Belships resolution with Oslo Stock Exchange The appeal highlights the plight of minority shareholders in mergers in falling markets, argues Kristin Tidemand.
Maersk Supply AHTSs win Aussie contract Two of Maersk Supply Service's anchor handling tug supply (AHTS) vessels are going Down Under to work on a new contract for Chevron Australia. Maersk Mariner and Maersk Master (both 23,856 hp, built 2017), will support the Chevron-operated Gorgon Stage Two drilling programme on Western Australia's north-west shelf, commencing in the second quarter. The contract's value and duration were not disc
Cyber cover seeks to fill hull insurance loophole Bermuda-based Shipowners Insurance and Guaranty Co (SGICo) is marketing a new product it hopes will help shipowners overcome the cyber risk exclusion added to most hull and machinery cover. Almost all hull cover will not pay out on a claim if the loss is related to cyber-crime. SIGCo president Neil Clemens said he has been developing the product along with shipowners for the past four years. How
Zeamarine moves closer to 100-ship goal with newbuilds Fledgling operator charters in Chinese tonnage as it creates modern MPP fleet
Shipyards pile in with prices for Repsol LNG bunker vessel Shipyards have submitted their price estimates for an LNG bunker vessel for Spanish energy giant Repsol. Newbuilding players said Repsol has requested indicative price offers on a 7,500-cbm capacity ship, and that all yards with an interest in building this type and size of vessel have now responded to the company. Repsol reignites hunt for LNG bunker vessel One commented that Repsol wants to t
Charter row highlights importance of contract clarity A charter row that ended up in London arbitration has highlighted the importance of checking contract wording when a vessel is quickly re-fixed. Financing company C Demurrage said that an unnamed owner had chartered out a ship to the buyer of a cargo of baled straw, for carriage from Varna to Izmir. But the contracts ended when the charterer paid neither the freight nor the sale price and the sh
Swissco aims to convene creditors meeting The court-appointed managers of Singapore OSV owner Swissco Holdings are trying to meet with creditors to agree a restructuring plan. A Singapore high court hearing on 14 January will decide whether the meeting will go ahead by 14 April. "The judicial managers will continue to work with and engage creditors and stakeholders," they said. At the end of last year, Allianz Middle East Ship Manageme
Bibby Offshore name disappears as it agrees new charter York Capital-controlled owner takes Solstad OSV as it merges into Rever.
Jinhui Shipping chairman raises shareholding Siu Fai Ng, chairman of Jinhui Shipping and Transportation, has purchased 6,947 shares in the Hong Kong-based bulker owner. Ng spent around NOK 63,600 ($7,463) in the transaction, in which shares were purchased at an average price of NOK 9.16 each, an Oslo Stock Exchange filing said. Poseidon Global emerges as buyer of Jinhui supramax The acquisition raises Mr Ng's shareholding to 4,788,620 sha
Fincantieri shares hit after STX France deal reviewed Shares in Fincantieri dropped on Wednesday after the European Commission said it would review its deal to buy STX France. The Italian shipbuilder's stock fell as much as 6.8%. It was trading at EUR 0.93 later on Wednesday. The Commission said on Tuesday it would closely investigate the proposed acquisition. Ministers from France and Italy had pledged to push through the merger, which would see
Cargill profit down as shipping 'lags' due to IMO 2020 Trading and chartering giant Cargill has revealed a 20% drop in earnings as shipping markets "lagged" last year. The company said net earnings for the second quarter ended 30 November were $741m, against $924m a year ago. Banks complete first digital bulker deal for Cargill Adjusted operating profit was $853m in the second quarter to 30 November, versus $948m in 2017. Revenue was down 4% at $2
Teekay Offshore Partners drops distribution payments Move comes as sibling Teekay LNG presses ahead with plans for a larger payout.
Transparent, independent research needed to plug data gaps Paul Balcombe's project on methane emissions and shipping is just getting going, with the findings to date identifying where the blanks are. The Imperial College research fellow and his colleagues in the Sustainable Gas Institute, working in collaboration with parties including energy major Shell, utility Enagas and the UK government, have put together a project group for the next stage of their
Methane slip and efficiency 'key to getting full benefit of LNG fuelling' Researcher says use of gas improves air quality and lowers fuel costs, but when it comes to its effects on the climate, the results are mixed
The costs of shipping going greener can be shared out Following the lead of airlines with fuel supplements can also help boost reputable companies
Hull rate fears as former Catlin duo seeks $3bn insurance fund Executives are causing ripples with project that could contribute to overcapacity in marine market
Search still on for missing tanker Indonesian authorities launch appeal for sightings of Namse Bangdzod.
Idan Ofer completes deal for BW chemical tanker fleet Owner's Eastern Pacific firms up $350m transaction with Singapore group.
Creditor pushes for 3 Maj yard bankruptcy A creditor of troubled Croatian shipbuilder Uljanik Group is seeking the bankruptcy of its 3 Maj yard. SeeNews reported that domestic metal and plastic products manufacturer Strojopromet Zagreb said on Tuesday it had requested the launch of bankruptcy proceedings. Fincantieri and Scenic Cruises circle Uljanik It has $893,000 of claims against the yard for goods and services provided, and said t
PGS sells survey ship to Japan for $100m Norwegian owner confirms deal with JOGMEC, with delivery in April.
TEN charters out tankers for up to $60m Greek owner upbeat on product carrier sector in 2019.
Two remain missing after Hong Kong tanker fire Fire department chief says incident took place during bunkering operations.
Nomura predicts 31% jump in 2019 Korean yard orders But bank downgrades Hyundai Mipo after share price rallies over 40% since November 2018.
Guinea set for greater bauxite exports after mine approval West African nation's Kimbo project could increase volumes by an extra 3mt per year.
Poseidon Global emerges as buyer of Jinhui supramax Low-profile Poseidon Global Shipping of Singapore has emerged as the buyer of a Jinhui Shipping & Transportation bulker that was sold at the end of last month. Oslo and Hong Kong-listed Jinhui announced on 2 January that it had sold a supramax for $7.4m but did not disclose the identity of the buyer. The company has now confirmed it unloaded the 50,000-dwt Jin Zhou (built 2001) and that it will
Strevens: Critical capacity mass needed to ensure healthy competition Wallenius Wilhelmsen says EU facilities must be capable of meeting ongoing recycling needs of EU-flagged fleet
Mitsui & Co lifts bulk carrier order tally at Yangzijiang Mitsui's latest kamsarmax is sistership to the company's earlier eight vessels
Shutdown could impact ITC's work on USMCA report A partial federal government shutdown entered its 19th day Wednesday as a critical deadline in the congressional consideration process for the U.S.-Mexico-Canada Agreement looms ahead.
Grassley: Cancel NAFTA if Dems want to reopen USMCA The new Senate Finance chair said he wants to talk with congressional Democrats about what they have in mind for consideration of the U.S.-Mexico-Canada Agreement.
Hyundai Merchant Marine prepares for 'quantum leap' HMM said it increased volume 150 percent in two years as it prepares for megaship deliveries in 2020.
Container terminals still 'solid, profitable business' But Drewry's senior analyst of ports and terminals cautions growth will slow in 2019.
J.B. Hunt picking up Cory for $100 million "This is a strategic investment that will further advance our final-mile delivery capabilities," says President and CEO John Roberts.
Crowley's Taino departs on maiden voyage American Shipper was invited to tour the LNG-powered vessel before it joined sister ship El Coqui on the rotation between Florida and Puerto Rico.
MSC says 1,200 metric tons of debris collected Cleanup in the North Sea continues following the Jan. 2 incident in which more than 250 containers were washed off the MSC Zoe.
House seeks details of Russian sanction decision The Treasury Department agency said it intends to drop sanctions against three Russian companies for reducing oligarch Oleg Deripaska's financial influence.
Aluminum production subsidies 'widespread' The American Primary Aluminum Association said an OECD report supports application of Section 232 aluminum tariffs across import sources and countries.
OIA Global hires former TRAC CEO
Retail imports level off after rush to beat tariffs
Crude settles higher after Saudi comments halt EIA-driven selloff Reassurances from Saudi officials that OPEC production cuts would balance the market sent crude futures higher.
Saudis revise up oil reserves estimate Saudi Arabia announced Wednesday its crude reserves were slightly higher than previously thought.
OPEC cuts have oil market on path to rebalancing: UAE energy minister The oil market is on its way to rebalancing UAE energy minister Suhail al-Mazrouei said Wednesday.
Military fuel supplier Stonewin enters Mauritius bunker market Latvia-based Stonewin, a provider of fuels to security and defense institutions, has launched a bunker fuel supply operation
Bunker delivery notes amendments enter into force ahead of IMO 2020 rule The amendments require suppliers to declare the sulfur content of the marine fuel supplied.
OPEC output slumps to six-month low Saudi Arabia, Iraq and the UAE have the most to cut to become compliant with their individual quotas.
TANKERS: Crude exporters opt for VLCCs over traditional Aframax USGC-UKC route There have been at least six Suezmaxes and three VLCCs placed on subjects to carry crude from the US to Europe since the market returned from the long holiday weekend January 2.
FUTURES: Crude gains on optimism over extended US-China trade talk "Talks with China are going very well!" Trump said in a tweet.
SUBSCRIBER NOTE UPDATE: Platts launches Marine Fuel 0.5% sulfur cargo, barge assessments S&P Global Platts has launched daily cargo and barge assessments for "Marine Fuel 0.5%" across the globe starting January 2, 2019.
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