Ultrasonic anti-fouling system gains ATEX certification Coventry, U.K., headquartered NRG Marine Limited reports that its Sonihull ultrasonic anti-fouling system, has just been certified to be in compliance with the EU's 94/9/EC ATEX directive, the regulation covering equipment intended
Navis updates dangerous goods module of loading computer software Oakland, Calif., headquartered Navis has announced an upgrade to the dangerous goods (DG) module of its MACS3 loading computer software to comply with the latest update of amendment 39-18 to the International
DOF Subsea books North Sea contracts Bergen, Norway, headquartered DOF Subsea, a subsidiary of DOF ASA, reports that it has recently secured several new contracts for projects to be carried out over the next few months in the
Seanergy Maritime raises $14.3m but share price dented Greece-based Seanergy has granted Maxim Group, the offering underwriter, an option to purchase up to an additional 630,000 shares or...
Diana Shipping posts profit but is downbeat on 2019 market prospects New York-listed owner of 45 bulkers turns in positive first quarter, reversing loss of a year ago, and says that...
Ruling confirms vessels held by pirates go off-hire 'Capture does not necessarily connote the use of force. Unoccupied land or undefended goods may be captured. My wife may...
Effective decarbonisation of shipping Legislators should realise that slow steaming is not a viable transport solution
China's soyabean imports at risk from US trade battle Higher volumes moving to China in April, with some shipments delayed from March, attributed to Value Added Tax change
Sri Lanka's Hambantota International Port - Gateway to the sub-continent Hambantota International Port (HIP) is the latest addition to Sri Lanka's network of harbours, currently being developed in different parts of the...
Euronav chief sees speed limits as short-term emissions solutions Hugo De Stoop says the controversial measure will be effective in combatting emissions and will not increase tonnage supply
Protectionism hurts major steel exporters WoodMac analyst warns that trade protectionism is no panacea and host countries can only avert pain in the short run
PSA International ties up with Singapore airport operator Trade promotion body Enterprise Singapore facilitated the multimodal transport collaboration between the two companies which both have significant shareholdings by...
ICTSI improves on higher volumes New service wins and the ramping up of existing terminals drive volume and revenue increases for terminal operator
Genco reports significantly lower losses The New-York based company will be sending 16 vessels for drydocking in the second quarter
Wilhelmsen suffers sharp drop in quarterly profit All main operating entities continued to deliver positive results, says chief executive Thomas Wilhelmsen
HHLA hails 'successful' start to year Hamburg terminal operator gets boost from logistics and property management as container volumes slip
Hapag-Lloyd posts strong first quarter on higher volumes Hamburg container carrier reverses last year's first quarter loss and posts healthy increase in revenues
Viewpoint: Let the stores go through The draconian measures put into place after 9/11 around port security are now being too strictly imposed by jobsworths to...
Daily Briefing VLCC rates tank on sanctions | Maersk warns speed limits will slow decarbonisation progress| Spotlight on salvage
POSH sees steady pick-up in vessel utilisation but widens first-quarter loss New chief executive Lee Keng Lin is encouraged that new businesses in the subsea and renewables segments are already gaining...
Marco Polo Marine continues to post red ink But Singapore offshore company expands drydock capacity in anticipation of increased work.
Seaspan downgraded after reaching fair value Jefferies analyst Randy Giveans keeps $10 price target for Bing Chen-led boxship player.
Pioneer Marine posts higher profit amid dry bulk woes Torben Janholt-led bulker owner used 'good chartering strategy with foresight' to navigate troubled market.
Cheniere LNG export capacity pushes profit Cheniere Energy Partners beat Wall Street expectations in the first quarter, thanks to higher LNG exports from its Sabine Pass terminal. The Houston-based company posted $385m in profit for the first three months of 2019, good for $0.75 per share and considerably higher than the $0.56 consensus forecast. Novatek advances Arctic LNG 2 project before taking FID The profit is a growth of $50m year
Diana Shipping returns to profit Simeon Palios-led bulker owner takes in more revenue off a better market but misses Wall Street consensus.
Clarksons plots pay review after 2018 packages squeeze through vote Clarksons investors have voted through the closely-watched pay packets of the company's top executives by the narrowest of margins today. The number of shareholders opposing the remuneration of chief executive Andi Case and finance and operations chief Jeff Woyda has been growing during the past few years and today's backlash was the largest seen so far. Only 51.49% of votes cast at today's annu
Dof Subsea wins North Sea work for the summer Dof Subsea has signed new frame agreements for work in the North Sea, which the company said will secure utilisation of around 100 vessel days. The pacts have a combined value of around NOK 80m ($9.1m) and comprise inspection, repair and maintenance (IRM) and survey work. Dof vessels win new contracts in Norway and Scotland Tax gain cuts loss for Dof as PSVs improve "The award of these contrac
GC Rieber reveals buyer of Ernest Shackleton research vessel GC Rieber Shipping has completed the sale of its icebreaking research vessel Ernest Shackleton (built 1995). The buyer has been revealed as Italy's Istituto Nazionale di Oceanografia e di Geofisica Sperimentale (OGS), the seller said on Thursday. GC Rieber to sell Antarctic survey ship No sale price has been disclosed but GC Rieber said it expects a positive cash effect of around NOK 140m ($16.
China Changjiang National emerges as buyer of Densay Shipping supramax duo China Changjiang National Shipping (Group) Corp has purchased two of its biggest bulkers yet, emerging as the owner of a supramax duo that Turkey's Densay Shipping sold around the turn of the year. Equasis shows the 57,000-dwt sisterships SSI Invincible and SSI Expedition (both built 2010) are now under the control of the Wuhan-based company. The SSI Invincible has been renamed Chang Hang Zhuo Ha
H-Line Shipping spends over $100m on bulker newbuilds at New Times Shipbuilding South Korean shipowner said to be exercising options against contracts of affreightment to Brazil's Vale
Star Bulk pushes back on Wells Fargo governance downgrade Hamish Norton says inherited related-party management issues are different to CEO conflicts with private firms
Novatek advances Arctic LNG 2 project before taking FID Russia's Novatek is moving forward on its plans to build its $21bn Arctic LNG 2 project by firming up its choice of shipyards and tank builders for a series of five huge gravity-based structures (GBS) that will house its liquefaction facilities. Those following the project closely said the energy company is expected to conclude agreements by the end of this month or in early June with five Chines
Paolo d'Amico watching product tanker period market as rates get 'interesting' Shipowner Paolo d'Amico is keeping a watchful eye on the product tanker period market at a time charterers are showing an increased appetite for tonnage. The d'Amico International Shipping chief executive is planning to have two thirds of the company's fleet trading spot ahead of IMO 2020 before locking in extra cover. Paolo d'Amico 'extremely worried' about fuel compatibility under IMO 2020 P
Bimco signs up Elena Tassioula as Athens manager Owners' organisation Bimco has appointed a manager for its new office in Athens. Elena Tassioula will be tasked with engaging with current members in the city and growing the membership in Greece, it said. "I'm very pleased that Elena will be joining our team. She has worked in shipping, but she also has experience from other industries, and that will enable her to look at how we do things with
Amazon and other shippers oppose slow-steaming The Coalition for Responsible Transportation (CRT) is opposing new proposals to enforce slow-steaming for ships through the IMO. The US-based organisation, which includes shippers like Amazon, supports green house gas (GHG) reduction goals but feels speed reductions should be voluntary. Slow-steaming on back burner as IMO targets cuts to GHG baseline Slow-steaming gives rise to unlikely NGO-own
Seanergy Maritime prices offer to raise $14.3m Greek bulker owner Seanergy Maritime Holdings has priced a stock offering to raise $14.3m. The Nasdaq-listed company said it will sell 4.2m units at $3.40 each. Each unit consists of one common share and two warrants to buy two mores shares. The company intends to use the net proceeds of the offering for general corporate purposes. Maxim Group is acting as sole book-running manager. Seanerg
Overseas Shipholding Group sees less profit Sam Norton-led tanker owner's revenue falls on lower rates, less ships on the water.
International Seaways back in profit during first quarter International Seaways swung back into the black in the first quarter following the Wall Street script. Greek shipowners turn to Chinese shipyards for aframax tanker newbuildings International Seaways' eyes open to tanker and LNG growth says Lois Zabrocky New York-listed International Seaways banked a profit of $10.9m for the opening three months of 2019, flipping from a loss of $29.3m a year a
Cosco executive expects mega-containership trend to halt China Cosco Shipping, one of the world's largest container carriers, has forecast a halt to the trend of ever-growing boxships because many ports are feeling the pressure from handling mega-ships operationally. According to Chinese media 21st Century Business Herald, the state conglomerate's executive vice-president Yu Zhenggang said there would be increasing concerns from industry players over t
Ice upgrade pays off for Viking Supply Ships Sweden's Viking Supply Ships has benefited from an upgrade to one of its anchor-handlers in the first quarter. The debt-free company, controlled by Norwegian investor Christen Sveaas, said the 19,034-bp Loke Viking (built 2010) was docked to become an ice-class 1A-super ship this year. Viking Supply to be debt-free as it cuts loss It is now mobilising to start a new contract this month, support
Prelude FLNG's first cargo watch starts with LNG carrier in line to accept debut loading Vessel trackers on alert after energy major Shell says an LNG cargo will leave the Aussie floater this quarter
Hugo De Stoop plans to follow shipping's Arsene Wenger by remaining 'close to the action' Paddy Rodgers compared himself to ex-Arsenal Football Club boss Arsene Wenger when he revealed his decision to resign as Euronav chief executive in February. New Euronav boss Hugo De Stoop connects to company's roots and future challenges Outspoken Rodgers to quit Euronav, work for safety Crude tanker asset prices 'too elevated' for takeovers, says Euronav chief executive "You go to Burnley
New Euronav boss Hugo De Stoop connects to company's roots and future challenges A personal note of congratulations from Greek shipowner Peter Livanos was delivered to Hugo De Stoop soon after he was named as the new chief executive of Euronav in March this year. De Stoop was deputy chief financial officer of Euronav back in 2005, when what was then an eight-tanker company merged with Livanos outfit Tanklog. Crude tanker asset prices 'too elevated' for takeovers, says Eurona
Britannia claims anti-corruption first Britannia has becomes the first P&I club to be accepted as a member of the Maritime Anti-Corruption Network (MACN). The organisation was set up in 2011 by a group of maritime companies committed to eradicating the industry of all forms of corruption. Britannia gains licence to underwrite business in Singapore It has more than 100 members, representing a sizeable percentage of the global fleet,
'Manageable' orderbook can prevent 'big crisis' in container shipping, says Hapag-Lloyd A big crisis in the containership market can be avoided given the present newbuilding backlog, Hapag-Lloyd believes. The boxship orderbook relative to the trading fleet has fallen steadily during the past decade and Hapag-Lloyd is more positive than some peers in its outlook. Hapag-Lloyd swings cost axe as it sets out new strategy Hapag-Lloyd records strong start and sticks with positive full-y
Fleet investment widens first-quarter loss at Tallink Tallink Grupp's net loss for the first quarter has widened by almost 30% compared to a year ago, despite cargo volumes increasing during the low season. Tallink Grupp orders $281.3m LNG-powered ferry from Rauma Marine Measles alert for passengers on Tallink ro-pax The Baltic Sea ferry company posted an unaudited net loss of '25.3m for the quarter, compared to a loss of €19.6m during the same p
Hartland Shipping predicts signs of recovery by summer UK broker says low orderbook, IMO rule changes and rising demolition rates will lift all segments
UK shipping minister urges focus on skills, diversity and welfare Nusrat Ghani reveals that government will publish a "People Route Map" in mid-year to chart the course for its Maritime 2050 vision
Palmali's Mansimov threatens critics with 'boomerang' Azerbaijani tycoon Mubariz Mansimov has hit back at the "lies" of critics of his Turkish tanker company Palmali Shipping. The shipowner said the company does not work with sanctioned countries. Four Palmali tankers join new owners after auction Palmali to fight Russian bankruptcy ruling He was cited by Turkish and Russian media as saying: "The size of the investment of our company for some rea
Elias Kulukundis considers buying more Belships shares Sale of bulker Sephora to the Norwegian company gives the Greek shipowner a stake in Belships of just under 5%
Remi Maritime-managed supramax bulker set for auction in Greece A Remi Maritime-managed supramax arrested by the National Bank of Greece over outstanding debt is scheduled to go under the hammer in the country next month. It is the latest in a string of moves by Greece's ailing lenders to clean up their portfolios. The 57,000-dwt Blue Cat (built 2009) will be sold in an electronic auction on 5 June, according to a document posted last week on an official Gre
DFDS posts profit but counts the cost of expansion The cost of ramping up its activities in the Mediterranean has caused DFDS' profit to shrink during the first quarter, despite a strong North Sea market. Net profit after tax was DKK 120m for the period, down by almost 25% from the DKK 158m posted in the first quarter last year, the company's financial report shows. DFDS full-year results reach 'all-time high' CEO Smedegaard quits DFDS after 12
Commerzbank cuts shipping book to 38 vessels Germany's Commerzbank is getting closer to exiting shipping finance for good. It said its vessel finance portfolio contracted to around EUR 300m ($335.65m) in the first quarter. By the end of the period, this volume related to only 38 ships. In 2018, the lender offloaded EUR 5.1bn of legacy loans as its shipping book dwindled. Deutsche Bank calls off Commerzbank merger Commerzbank sheds $5.75
Savage and underwriters sue Wartsila over tanker fire A US shipowner is suing Finnish technology group Wartsila for negligence after a fire on a molten sulphur carrier. Savage SE Operations and its overseas underwriters have filed a suit in the US district court in the southern district of Texas. They also allege breach of contract and warranty. Chinese state giants Cosco and CIMC come to blows in rare legal battle The admiralty case arose after
New Iranian sanctions further hurt Chinese iron ore imports Supply problems for the world's largest iron ore consumer will only get worse as US sanctions Iran's mining industry.
Shipowner John Fredriksen to mark 75th birthday as 'richest Norwegian ever' Shipowner John Fredriksen, who is turning 75 this Friday, may be the richest Norwegian that has lived ever. Fredriksen started as a telex messenger at broker Blehr & Tenvig with a zero fortune when he was 16 years old. Norwegian magazine Kapital has published its annual list of the nation's richest people and estimates Fredriksen is worth NOK 113bn ($14bn), double anybody else on the list. Fre
Hapag-Lloyd records strong start and sticks with positive full-year outlook Charter rates, currency movements and an increase in cargo have driven German container line Hapag-Lloyd to a better than expected first quarter performance. Its strong start to the year is coupled with a positive outlook for the container market, despite questions about world economic growth. Technolog to handle Hapag-Lloyd boxship conversion Hapag-Lloyd shares hop as German line's outlook out
Product upturn final piece of chemical tanker jigsaw, says Odfjell chief Kristian Morch Odfjell believes the final piece of the chemical tanker market recovery puzzle has arrived to help drive an upturn in rates. While the Oslo-listed shipowner is not banking on the arrival of a new super-cycle, it is positioned for stronger markets and seeking to grow its fleet in a flexible way. Odfjell and Celsius Shipping seek exit from LPG joint venture with twin sale Scrubbers 'not the way t
Slow-steaming on back burner as IMO targets cuts to GHG baseline Two critical environmental meetings have other priorities to settle before getting on to speed limits
Howe Robinson triples LNG team with big-name hires Shipbroker Howe Robinson Partners is expanding its newly formed LNG team with two experienced industry professionals. Managing partner Henry Liddell told TradeWinds that Jon Cook, who was formerly chief executive at Flex LNG in London, is joining the company to work out of its Houston office in the US. From tanker captain to Flex LNG frontman Liddell said Cook would be working as a consultant o
Slow-steaming gives rise to unlikely NGO-owner alliance Green groups and shipowners team up at the IMO to propose speed reductions on shipping
Grecomar wraps up sale of elderly handymax bulker Dry bulk specialist Grecomar has shed a 19-year-old handymax, concluding a slow but steady campaign to offload its ageing ships. Multiple Greek shipping sources confirm the Athens-based shipmanager and owner has sold the 46,700-dwt Mare Forum (built 2000) for about $6.2m. The price appears to be firm, considering VesselsValue estimates the Kanasashi Heavy Industries-built ship is worth $5.3m and
Watch Spanish troops liberate Boskalis ship Dramatic video footage shows the moment Spanish naval forces board a Boskalis heavy-lift ship that suffered a violent hijacking off West Africa. Boskalis heavy-lifter damaged in violent African hijacking The Spanish navy posted the film on Twitter following the operation to free the 76,000-dwt Blue Marlin (built 2000) off Equatorial Guinea. It can be seen here. Armed officers can be seen board
GSL sees IMO 2020 boost due to retrofits New York-listed Global Ship Lease (GSL) has identified a potential boost to its operations from the coming IMO 2020 deadline. The boxship owner's CCO Tom Lister said on its conference call that the company views the regulations as a positive catalyst for owners offering ships to the charter market. Global Ship Lease bottom line lifted by Poseidon deal "Scrubber retrofitting, which takes a vesse
Vincenzo Onorato strikes ICBC sale and leaseback deal Italian owner Vincenzo Onorato has struck a sale and leaseback deal with ICBC Leasing for two new ro-paxes. The deal was revealed in his Moby Lines' annual report for 2018, according to Stylo 24. No financial terms were revealed. Moby Lines lands a whale of a profit MSC and Moby order cruise ferries in China The vessels - the biggest ro-paxes ever built - were ordered last year by Moby Lines i
Gang targets Stena-Sonangol suezmax off India Tanker crew said to have managed to restrict movement of perpetrators to ship's deck.
Southernpec caught using magnets to cheat customers Fuel supplier allegedly tried to interfere with the mass flow meter during a bunkering operation.
Higher costs push POSH to bigger first quarter loss Robert Kwok-based offshore company reports slight uptick in offshore construction activities.
Brazil not an exciting market for US offshore Expected growth in Brazil's oil industry is expected to help kick the offshore sector into gear - but US players are less than thrilled. At Marine Money's Houston Offshore Finance Forum Wednesday, Tidewater chief executive John Rynd said making money in the South American country was a "dogfight" with the highest cost per day of any country the New York-traded company operates in. Holm: Offshore
Fugro slammed over condition of returned ship But owner Tasik Subsea quick to secure fresh work for two-year-old vessel off Malaysia.
Hapag-Lloyd reports 'significantly higher' Q1 profit CEO Rolf Habben Jansen said transpacific contract rates saw an average "three-digit increase" per TEU.
Retail imports forecast to reach 'unusually high levels' The high import levels expected through the summer are driven by a rise in retail sales and plans to increase and broaden the tariffs against China.
Lawyers: 301 notice gives leeway for goods already exported Trade attorneys for Baker & McKenzie and Sandler Travis reported that the Office of the U.S. Trade Representative's notice for Section 301 tariffs to increase from 10% to 25% across $200 billion worth of goods from China applies only to goods that are both exported and entered for consumption after 12:01 a.m. Friday.
C.R. England reaches $37.8 million lawsuit settlement The settlement affects 17,519 drivers who entered into vehicle lease and independent contractor operating agreements between 2007 and 2017.
Bad weather hits Matson in first quarter But the company says revenues are up and predicts an increase in operating revenue for 2019.
U.S. sanctions aim to dent Iran's metals industries President Trump ordered new sanctions to be placed on Iran's iron, steel, aluminum and copper industries in an effort to curtail weapons manufacturing and political influence.
U.S. seizes North Korean cargo ship
Reinhart inducted into hall of fame
Redwood Logistics acquires Eminent Global
Coalition opposes mandated slow steaming
PSA, SATS to provide sea-air connectivity in Singapore
Oakland reports busiest April in history
Executive Moves: BlueGrace Logistics, Port of Seattle
Crude futures off lows as market remains fixated on US-China trade dispute Crude futures ended mixed Thursday, pulling up from intraday lows as equities markets remained fixated on the ongoing US-China trade dispute.
ARA fuel oil stocks fall by 8% on reopening arbitrage east Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp trading hub fell by 8% to 854,000 mt in the week to Wednesday.
Matrix Marine exits Singapore bunker fuel supply market Matrix Marine Fuels exited the Singapore bunker supply market as the Port Authority of Singapore (MPA) removed it from the list of accredited bunker suppliers, effective May 7.
Slow-steaming shipping benefits a double-edged sword: industry report The economics of slow steaming on shipping lines may not be as cut and dry as they first appear.
Genco Shipping & Trading plans dry docks as it gears up for IMO 2020, ballast water rules Genco has also undertaken a fleet renewal plan as environmental rules in global shipping loom.
VLCC carrying gasoil from Rotterdam now pointed to West Africa: cFlow The ship looked to be part-laden after leaving Rotterdam on April 26 and had an initial destination of the Cape of Good Hope.
Newbuild VLCCs fixed to bring diesel from Asia to Europe despite closed arb "It is definitely cheaper to use newbuilds to move gasoil to west," an industry source said.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
