Moran wins a Navy contract worth a potential $74 million Moran Towing Corp., New Canaan, Connecticut, has won a $14,350,538 Navy contract worth a potential $74 million. It covers the time charter services of eight tugboats. The tugboats will be capable
Compact MAN SCR system gets IMO Tier III certification MAN Energy Solutions reports that its highly compact MAN 175D SCR system recently completed its final Type Approval Test and has now been awarded IMO Tier III certification by all major classification
Scenic again pushes back first sailing of Scenic Eclipse Australian based Scenic Luxury Cruises & Tours reports that the first sailing date for its first oceangoing vessel. the Scenic Eclipse, has again been pushed back, this time to August 15, 2019.
Zero-emission, zero-crew box ship to have PG Flow Solution pumps Vard has selected liquid handling and pump specialist PG Flow Solutions to supply the engine room pump system for the world's first autonomous and electric container vessel, Yara Birkeland. As we reported
Two more class societies certify RIMS for remote inspections Delft, Netherlands, based RIMS BV has received two more classification society certifications - from DNV GL and the Indian Register of shipping - for the use of Remote Inspection Techniques (drones) during
Powerful new fireboat is Schottel equipped The Branddirektor Westphal, Europe's most advanced fireboat, will soon enter service in the Port of Hamburg with a pumping capacity three to four times greater than the port's existing fireboats. To ensure
Korea shipbuilding mega merger hits a snag A much ballyhooed potential merger of Korean shipbuilding giants Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) has run into a snag. Unionized workers at both shipbuilders are determined to
US ports could benefit from project funding The pilot programme is intended to improve the delivery of water resource infrastructure
Maersk buys US customs broker Maersk is taking further steps to offer customers a full logistics service and is taking an extra step by acquiring...
Yantian Express cargo recovery makes further progress Hapag-Lloyd says significant headway has been made in recovering cargoes
US box imports still strong as tariff hike approaches Imports are down from previous highs but tariff pressure remains
Grayling contradicted on use of public funds for Ramsgate contract Revelation appears to contradict assurances from Mr Grayling in a statement to the Commons on Monday, in which he said:...
Registries criticised for Aquarius de-flagging Human Rights at Sea report argues that ship registries submitted to political pressure when delisting the rescue vessel
Nordic American Tankers secures new five-year loan NAT board is focused on further reducing its debt levels
CMA CGM thinks inside the box with CEVA deal Combining ocean freight with logistics is nothing new, but will CMA CGM's model be different from past attempts?
NAO report says UK's post-Brexit ferry provision lacks adequate capacity Britain faces a ferry crunch ahead of EU exit at end of March as charter market tightens in response to...
DSV bid splits Panalpina shareholders Artisan Partners hits out against Panalpina and the company's majority shareholder in light of the DSV takeover bid
Malaysia's crude palm oil exports rise in January The country's crude palm oil exports hit 1.68m tonnes, up 14%, mainly led by its exports to China and India
Star Bulk profit hit by vessel sale Greece-based bulker owner lifts financing for scrubber programme to $140m and says keeping a large cash cushion 'a priority'
CMA CGM makes formal offer for CEVA shares New strategic plan is expected to raise CEVA's revenue to $9bn as two companies realise economies of scale and reduced...
Daily Briefing UK government offers ports cheap loans for Brexit upgrades | UK ferry fiasco continues as Seaborne backer reveals it had...
Shipbuilder JES International applies to be put under judicial management The Jiangsu-based shipbuilder has applied to the High Court of Singapore to put itself under judicial management
Chinese coal import restrictions spell bad news for bulkers The Baltic Dry Index has reached its lowest level in two-and-a-half years and was at 634 points on Monday as...
Blame today's congestion on tomorrow's tariffs Today's congestion is just an algorithmic function of tomorrow's tariffs, but nobody knows what the future holds or what impact...
ICS: Time to invest in zero-carbon future The large investments needed to realize zero-carbon shipping should be considered by the IMO during 2020, said Poulsson
Ocean Yield finds work for unemployed FPSO Company dodges $50m impairment fee.
Star Bulk expects impact from Vale dam disaster Dry bulk sector demand may fall by 1.25%, chief executive Petros Pappas says.
Guinea repeats record as top bauxite exporter to China Guinea's bauxite exports to China increased by 38.3% to 38.2 million tonnes last year, marking the second year the West African country beat Australia for the top spot, according to Banchero Costa analyst Chong Hui Ru. The surge followed extensive Chinese investment in Guinea's mines and logistics infrastructure. "The development of bauxite supplies in Guinea continues to look very positive as t
Hyundai Mipo Dockyard reveals ambitions for 2019 South Korean shipbuilder targets 90 new orders in the coming year, with its eye firmly on gas carriers, and an expansion of its activities
Morgan Stanley backs off GasLog Partners Investor brings stake below 2%.
Wallenius Wilhelmsen eyes dividend after profitable quarter Wallenius Wilhelmsen posted a small profit in the fourth quarter as its ocean segment lagged, but is still considering cutting its first dividend since its 2017 merger. Wallenius Wilhelmsen starts share buy-back The Oslo-traded company posted NOK 8.8m ($1.022m) profit for the last three months of 2018, a dip of 1% year over year. It attributed the dip to lower revenue from its ocean segment, a
Wellington takes a step back at DHT Holdings after heavy investments in 2018 First direct disclosure shows major shareholding but fund's stake in tanker owner peaked last summer.
Scorpio Tankers scrubber savings could hit $125m Products giant tells Florida investment conference why it is going all in on gas-cleaning systems, and just how rewarding strategy could become.
Paris MOU bans another corroded cargoship The Paris MOU port state control organisation has banned another corroded cargoship. The 3,200-dwt Agnes (built 1978) has been barred for three months after failing three inspections in the last three years. Cracked cargoship banned for a year by Paris MOU The latest detention was in Azov, Russia, on 15 January for three days, with nine deficiencies recorded. Grounds for detention included hul
Hutchison Port Holdings posts huge loss for 2018 The Hong Kong-headquartered port operator suffered hefty impairment charges last year
BlackRock bumps up tanker positions with fourth quarter flutter Investment giant BlackRock bet on tankers as the market climbed off the canvas in the fourth quarter of 2018. Dimensional Fund Advisors bets on tankers amid moves on nine shipping stocks Frontline shares fire after DNB upgrades tanker peer group BlackRock grew its stakes in International Seaways, Nordic American Tankers, Teekay Tankers and Ardmore Shipping during the period as rates and equiti
CSSC oil storage unit puts vintage VLCC on auction block China State Shipbuilding Corp (CSSC) offshoot CS Shipping is selling one of its VLCCs via an auction on the Guangzhou Shipping Exchange. Low-key CS Shipping is done buying for this year CSSC Leasing celebrates huge newbuilding haul The base price for the 281,705-dwt CS Pioneer (built 1998) has been set at $14.7m, according to the exchange. VesselsValue estimates the ship's price at nearly $16.
Nordic American Tankers strikes fresh $306m loan Herbjorn Hansson-fronted company inks new facility which covers its funding needs for five years.
P&I club cover needs to adapt to evolving regulatory landscape Issues around ballast water and fuel regulations require urgent attention to ensure the club system continues to meet shipowners' challenges and liabilities, writes Christian Ott
Royal Boskalis springs share buyback with SAAM SMIT cash Royal Boskalis Westminster plans to spend more than half of the money from the sale of its stake in SAAM SMIT Towage to repurchase its own stock. Royal Boskalis set for $201m SAAM SMIT sale Boskalis appoints new CFO from within Boskalis yesterday announced plans to exit its position in the joint venture set up in 2014. It told investors today it expects to collect €175m from the sale, with '10
HMM cuts 2018 loss to $719m as revenue grows Korean shipowner Hyundai Merchant Marine (HMM) has reduced losses in 2018 as revenue rose. The net deficit came in at KRW 808bn ($719m) last year, down from KRW 1.19 trillion in 2017, according to the Yonhap news agency. HMM said its revenue from boxships, tankers and bulkers grew to KRW 5.22 trillion, up 4% year-on-year. But the operating loss was bigger at KRW 576.5bn from KRW 407bn in 2017,
Andrew Peers appointed TT Club senior underwriter Insurer TT Club has brought in Andrew Peers as a new senior underwriter. The club said Peers will handle business in the UK, Benelux and Nordic markets. He has joined from RSA, where he spent 17 years and led a team of 12 marine liability and marine property insurance underwriters. Peers has also held senior positions at GE Frankona and Willis. He will will report to EMEA regional director Mar
Zim confirms containership demolition sale Zim has sent one of its container vessels for demolition but is playing down reports it has scrapped another ship. Zim nets strong price from containership scrap deal A spokesperson for the container line said the 4,800-teu Zim Barcelona (built 2014) will be scrapped. They did not say how much the ship had fetched or where it would be cut up. However, Zim dismissed widespread reports the 4,800
Court approves Swissco OSV fleet sale The Singapore high court has approved a restructuring plan that will see OSV owner Swissco Holdings sell most of its fleet. At the end of last year, Allianz Middle East Ship Management of the UAE struck a deal to buy 21 ships for $20.5m. These include six anchor-handlers, tugs, barges and workboats. Swissco also has an option to sell another four anchor-handlers (AHTS) for an extra $8.5m. Clar
Frontline shares fire after DNB upgrades tanker peer group Frontline shares were catapulted upwards this morning after DNB Markets upgraded its view on the tanker peer group. Frontline saw over 12% added to its market value after analysts led by Nicolay Dyvik reversed a downgrade in late November 2018, made in the wake of Opec production cuts. DNB Markets boosts ratings and rate forecasts for VLGC peer group Dyvik argued tanker stocks had adjusted for
CMA CGM launches $1bn CEVA takeover with board backing French line CMA CGM has launched a $1bn takeover offer for CEVA Logistics as it aims to stretch beyond shipping operations. The shipowner said it is paying CHF 30 ($30.25) per share to build its stake from 33% in the Swiss company. Last month, CEVA said the offer was a fair exit opportunity for investors, but added they could realise a higher value by retaining their shares. CMA CGM sees third-
Wilhelmsen and Hitachi partner in IMO 2020 fuel testing Wilhelmsen Ships Service has struck a deal with Hitachi High-Tech Analytical Science's to supply equipment allowing crew to test the sulphur content of bunker fuel while onboard ship. Sulphur content can be tested during bunkering operations, rather than leaving the vessel to deal with specification issues after the fuel has been loaded. "Crews will be able to eliminate the risk of accidental no
Cargill forms new Norwegian JV using Eidsvaag ships Trading giant Cargill is teaming up with fish-feed player Skretting and shipowner Eidsvaag to cut emissions in Norway. Cargill and Skretting will combine their fish-feed shipping operations along the Norwegian coast. The venture will be called Fjordfrende (Fjordfriend), with the aim of limiting traffic and reducing greenhouse gas emissions. Cargill profit down as shipping 'lags' due to IMO 2020
Reederei NSB keeps up quest to grow outside Germany New CEO Ponath says transformation of midsize shipmanager to an international business is more or less complete
DNB brings on super-subs in London and gives City Pep talk An illness in the family of absent DNB chief executive Rune Bjerke did not stop the Norwegian bank going ahead with its first quarterly results briefing in London. Thomas Midteide, group executive vice president for media and marketing, told the assembled hacks: "Just like Norwegian-led Manchester United, we have super-subs on the bench. They are well fed and ready to run." Chief among these was
Scenic plans new series of cruiseships at Uljanik Australia's Scenic Cruises is plotting a new series of cruiseships at Croatia's restructuring Uljanik Shipyard. DIV, the owners of the compatriot Brodosplit yard, Uljanik's new strategic investor, signed a letter of intent with Scenic on Monday, Total Croatia News reported. Brodosplit: expenses must be "drastically" cut at Uljanik Detailed work has begun on designing a new series of "several" l
Indonesia to lure $60bn of investments to Batam hub Indonesia is targeting a revamp of its Batam island region to draw in $60bn of investment as an alternative shipping and manufacturing hub to Singapore. The free-trade zone has already attracted about $20bn since 2007. Authorities want to reclaim about 8,000 hectares of unused or confiscated land, Intellasia reported. "We aim to develop enclaves of special economic zones in Batam," said Edy Put
Mega-merger of HHI and DSME confirmed as Samsung passes Formal agreement to combine world's two biggest shipbuilders will be signed in March, Korea Development Bank says.
North Queensland ports begin to resume operations Clean up effort in full swing as some ports return to business quicker than others.
Baltic Exchange top Singapore executives quit Major shake-up underway at the Singapore offices of the Baltic Exchange following the resignations of Chris Jones and Marcus Lee.
Thailand's Nathalin linked to Hadjiyiannis VLCC Deal said to still be on subjects to owner who has previously said it is in the market for tonnage.
Yangzijiang among Singapore's best performing stocks Chinese shipbuilder among top five performers last month, in contrast to compatriot HPH Trust.
Maersk acquires Vandegrift to grow customs brokerage Maersk said its purchase will increase its North American customs staff from 80 to 250.
New England Motor Freight files for bankruptcy The New Jersey-based less-than-truckload carrier plans for an "orderly wind-down of its operations."
HMM reports operating loss of $513 million in 2018 But Hyundai Merchant Marine saw growing revenue and a smaller operating loss in the fourth quarter.
USTR collects comments for Special 301 review Commenters call for China to be identified for the 15th straight year as a country of major intellectual property concerns.
Commentary: Stop flying backward on U.S. air imports U.S. freight forwarders are frustrated by the lack of details from the airlines about their arrived imports, let alone the payment terms and conditions.
CMA CGM launches public tender offer for CEVA shares
C.H. Robinson taps Biesterfeld as CEO
Aircraft mechanics ratify new contract with UPS
CBP eyes 21st century trade environment
Retail imports strong as possible tariff hike looms
Crude settles higher as optimism over US-China trade thaw offsets oversupply concerns Crude prices settled higher Tuesday on the back of rising equity markets
Brent to average $61.03/b in 2019, $62/b in 2020: EIA US crude oil production averaged more than 12 million b/d in January, a new record
Venezuela's oil output slips to 1.22 million b/d in Jan: EIA The US Energy Information Administration sees more global oil supply and slightly lower demand this year
No one party can perform role of swing producer: OPEC's Barkindo OPEC Secretary General Mohammad Barkindo urged members and its allies to remain firm
STEO HIGHLIGHTS: US oil output growth to offset production cuts, sanctions The OPEC-led production cut agreement and sweeping new sanctions on Venezuelan crude flows will not be enough to offset US supply growth
Saudis pledge deeper output cuts Saudi Arabia will cut its crude production next month
Antwerp bunker operations brace for disruption from Belgian national strike Bunker operations at the port of Antwerp, Belgium are expected to be affected by a national strike
WFS takes over two Macoil MGO bunkering barges at Gibraltar: sources US-based World Fuel Services has increased its bunker barge capacity at the Mediterranean port of Gibraltar
External: Marine Bunkering(Rotterdam)B.V.
Execs urge Egypt to look to Singapore, Fujairah in pursuit of oil role Vitol chief executive Russell Hardy hinted at a more dynamic role in oil markets for Egypt, mirroring its emergence as an LNG export hub.
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