Converting "LNG ready" box ship to gas fueling will cost $30 million Converting "LNG ready" box ship to gas fueling will cost $30 million Hapag-Lloyd has revealed a few more details about its plans to convert its 15,000 TEU containership Sajir to LNG propulsion
Fincantieri Bay books ferry contract Fincantieri Bay Shipbuilding, Sturgeon Bay, Wis., and Washington Island Ferry Line have signed an agreement to construct a new, year-round passenger/vehicle ferry for service across Wisconsin's Death's Door Passage. To be named
Bunker fuel testing specialist launches Singapore operation West Deptford, N.J., headquartered marine fuel testing specialist Seahawk Services is now offering marine fuel analysis and bunker quantity and investigation surveys from a new base in Singapore, where it is set
Lake Assault fireboat enters service on 835-acre Georgia reservoir Homes and power stations around Lake Rabun, an 835-acre Georgia reservoir with 25 miles of shoreline, are now being protected by a 26 ft fireboat built by Superior, Wis., based Lake Assault
Pushing Hope charity tournament set for August This year's annual Pushing Hope Annual Marine Industry Charity Tournament is set for August 15, 16 and 17 in St. Louis. The tournament is held in support of the Mary Crowley Cancer
Red ink quarter for Conrad Morgan City, La., headquartered shipbuilder and repairer Conrad Industries, Inc. (OTC Pink: CNRD) has reported first quarter 2019 results that included a net loss of $307,000 and loss per diluted share of
Tests on Viking Grace confirm rotor sail's fuel saving potential Finland's Norsepower Oy Ltd. reports that the rotor sail installed on the Viking Line cruise ferry Viking Grace has the potential to deliver annual savings of around 300 tonnes of LNG fuel.
Marine insurers defer war risk premium decision over tanker attacks Shipowners are reportedly reviewing security arrangements for Fujairah and the Strait of Hormuz
Proposed ban on anti-fouling systems pushed back Japan gets its way as EU proposal to force removal of cybutryne anti-fouling systems by 2026 is stalled
DryShips begins 'future proofing' fleet with scrubbers and ballast water systems DryShips says "future proofing" plan is estimated to incur 1,100 to 1,300 off-hire days from 2019 to 2020 and cost...
Pavimar acquires Triton panamax Greek owner brings fleet to 16 bulkers but reports of double purchase from Netherlands-based seller are incorrect
Trade spat with China slows FIDS on new US LNG capacity The US will still overtake Qatar as the world's largest liquefied natural gas exporter eventually, but expansion of US LNG...
Large claims behind string of P&I deficits, chief executives confirm 'I wouldn't call it luck, but there is some randomness in the business that cannot be fully explained as a...
Bangladesh breakers under spotlight after fatal blast NGO Shipbreaking Platform calls for the Bangladesh government to regulate its shipbreaking industry
Taking the next steps in digitalisation Why haven't smaller shipping companies enthusiastically embraced digitalisation? What should be done early to prepare for the digital transformation? A...
Shippers brace for further US-China tariffs New set of tariffs on Chinese imports to the US is likely to lead to another round of front-loading in...
Lloyd's Register gets recognised organisation status in Italy The classification society will establish an Italy branch of LR Group to allow it fully to service Italian customers, it...
K+N urges carriers to follow environmental lead K+N senior vice-president and head of global trade Paulo Montrone said the group wants to show how it is possible...
Dangerous goods require digital solutions Information flows around the carriage of dangerous goods need to be improved to avoid further containership casualties
How to innovate in shipping If the predicted 'Uberisation' of shipping comes to pass, shipowners who have not managed to adjust their business models from...
Frontline expects tanker volatility The Bermuda-registered company expects full-year time charter earnings at higher levels than last year for all the sectors it operates...
Singapore sets up cybersecurity centre The new centre has been launched about six months after the MPA and ST Engineering embarked on a joint cybersecurity...
Adani Ports gets Myanmar container terminal approval There are already several container terminals in Yangon Port but rapid GDP growth in Myanmar is expected to raise demand...
Boskalis loses test case on BIMCO charterparty invoicing period 'While this issue always seemed clear to me, the court has once again confirmed that parties should be held to...
Sovcomflot swings to profit as conventional tankers gain The company expects a sustained recovery in the conventional tankers market towards the end of the year and through 2020
Maersk moves inland terminals into logistics business Danish carrier takes another step in the reorganisation of its business to promote its integrated logistics plan
Daily Briefing How to decarbonise shipping | West African ports slow on the low-sulphur uptake | IMO sees sluggish emissions measures negotiations|...
Viewpoint: The new religion Although the maritime industry should think about how to bring about more efficient power generation in ships, it should not...
AVIC International Maritime blames drop in new orders for 22% slide in first-quarter profits AVIC sees its Deltamarin design unit's strength in high-tech, green vessels as giving it a competitive edge during volatile market...
Seaspan seals $1bn financing programme The move is billed as a significant step forward in building up Seaspan's capital structure and the ship lessor expects...
One dead after Los Angeles port blast Three CMA CGM containerships - APL Thailand, APL Esplanade and the President Eisenhower - that are currently berthed at Pier...
Malta ratifies Hong Kong Convention on ship recycling Malta becomes the 12th country to ratify the IMO convention, which still lacks sufficient support
Santos deal paves way for PNG LNG expansion Santos is after a stake in the P'nyang field, which holds some 4.36 trillion cubic feet of gas resources that...
Seaspan expects to save $400m off $1bn loan programme The new debt will 'fundamentally change the way business can be done', chairman David Sokol said.
Flex LNG nears spot deal for newbuilding Shipowner Flex LNG is closing in on spot business for its next-to-deliver, speculatively-ordered LNG carrier newbuilding. Fredriksen's Flex LNG inches towards US listing Market sources said energy major BP has fixed the 173,400-cbm Flex Constellation on subjects for 20 to 40 days on an ex-yard basis. Delivery voyages No rate details were given, but shipowners pointed out that lower-than-market
ST Shipping time-charters Euronav VLCC for trading Glencore's ST Shipping & Trading has taken a modern VLCC on time charter in what brokers said is its first move on a trading vessel of this size in many years. Market sources said ST Shipping has fixed Euronav's non-'scrubber-fitted, 299,999-dwt Dia (built 2015). Glencore fixes Zenith aframax duo for three years The trader's chartering company has taken the vessel for 12 months at a reported ra
Koo boosts comeback with $390m in newbuilds Three Chinese shipyards have signed letters of intent with Glory Maritime
Rates for modern LNG carriers approach six-figure levels Term-charter rates for large modern LNG carriers are shifting up and are expected to break the six-figure mark soon. Brokers this week quoted a recently concluded deal for Teekay LNG Partners and Marubeni Corp's 165,500-cbm Arwa Spirit (built 2008), which is reported to have been fixed to Cheniere Energy for 12 months at a rate in the low $80,000-per-day range. BP sets time charter rate tone wit
Scorpio Tankers gets upgrade as IMO rally nears JP Morgan is bumping up its Scorpio Tankers rating ahead of the expected sector rally brought on by the incoming IMO 2020 emissions regulations. Noah Parquette, analyst at the investment banking giant, upgraded the New York-traded shipowner to overweight from neutral and raised the target price to $34 from $29. Scorpio: Tanker upswing will hit all product segments Scorpio Bulkers to hold onto s
Launch of Cold Water Shipping causes a splash in offshore Offshore shipowners are giving new outfit the cold shoulder, but one of the company's backers says the scepticism is unfounded
Big names grapple with challenge of lifting diversity and inclusion Senior industry professionals from Cargill and Bahri share their experiences on changing company culture
Croatia is going for broke flirting with China's bold ambitions China's Belt and Road Initiative could save Croatia's strike stricken Uljanik Group from almost certain bankruptcy, but such an investment would come at a price
Middle Eastern tension boosts tanker sentiment Heightened tension in the Middle East has prompted optimism in the tanker market even though its actual impact on vessel operation remains muted. On the benchmark Middle East-China route, spot VLCC earnings have risen over 50% this week to nearly $13,000 per day, according to brokers. Among recent fixtures, pool manager Tanker International's 298,330-dwt Ridgebury Artois (built 2001) is provisio
Maersk Product Tankers cuts sale-and-leaseback deal Maersk Product Tankers has hashed out a sale-and-leaseback deal for a quartet of MR tankers with Industrial and Commercial Bank of China. The company did not disclose which ships were included in the agreement - simply that they were built in 2015 and 2016. Maersk Tankers posts loss in tough product market "The agreement will increase financial flexibility and strengthen the financial position
MPC Capital expands with tanker, bulker deals German asset and investment manager MPC Capital has revealed growth in its shipping activities during the first quarter. Aug Bolten joins MPC's bulker management venture MPC Capital snaps up $42m boxship trio The Hamburg owner said it had expanded "its range of services in the technical management of tankers." And last month Hamburg owner Aug. Bolten said it was joining MPC Capital's bulker te
Electromagnetic Geoservices wins another Barents Sea survey contract Electromagnetic Geoservices (EMGS) has struck an agreement with an unnamed client to conduct more survey work in the Norwegian Barents Sea this quarter. Its 103-metre vessel Atlantic Guardian (built 2001) will work on a multi-client 3D controlled-source electromagnetic (CSEM) survey in the region. EMGS signs off upsized Barents Sea contract The contract has a value of $1.25m, which has been fu
Arctech yard reveals $1.7bn order hope under new owners Finland's Arctech Helsinki Shipyard (AHS) is lining up fresh orders under its new owners. The company has been sold by Russia's state United Shipbuilding Corporation (USC) to Algodor Holdings, owned by two Russian businessmen, Rishat Bagautdinov and Vladimir Kasyanenko. Ex Russian minister Olersky to buy Arctech yard USC in talks for 50 newbuildings AHS said the pair have "strong backgrounds"
Offshore rate surge helps Hornbeck refinance Hornbeck Offshore is not done pushing back some of its upcoming debt maturities, the company's chief executive said. After staving off bankruptcy during offshore's multi-year downturn, the Louisiana-based, New York-listed company has been working out deals to refinance or clear bonds coming due over the next three years - moves enabled by the sector's expected turnaround. Hornbeck losses deepen
Recycling gains will be lost if we dither, so what are we waiting for? Japan warns that recent environmental and safety improvements in shipbreaking could reverse if momentum towards enforcement of a global deal fades
Greater change is needed to make seafaring attractive for women International Seafarers' Welfare and Assistance Network (ISWAN) project manager Caitlin Vaughan has seen and heard a pushback on female seafarers. And that, she said, is something that "still needs to change" in the industry. Shipping must act to make seagoing careers more attractive to women Vaughan, who joined the panel session on diversity and inclusion (D&I) at HR Consulting's Maritime HR C
AP Moller-Maersk doubles down on its logistics focus AP Moller-Maersk is beefing up its logistics focus by merging APM Terminals Inland Services into Maersk Logistics & Services. The Danish giant is transitioning away from being a conglomerate to becoming an integrated transport and logistics specialist. The business combination will be effective from 1 August and will provide customers with "seamless access to a wider range of logistics and servi
Minerva Marine makes it five LNG ships with latest newbuild Greek shipowner joins those cashing in on LNG options this year while also inking aframax tanker deal
Cleaves says the only way is up for capesizes Equities analysts for once are predicting a prolonged upturn for capesize bulk carriers, thanks to depressed asset values and historically low orderbook levels. Cleaves Securities anticipates the "longest expansionary dry bulk cycles" in its records, which go back to the 1740s, according to a research note on Thursday. "I believe the cycle will contract in 2022 at the earliest, but potentially n
Bimco draws up first decommissioning contract Shipowners' organisation Bimco has drawn up the industry's first offshore decommissioning contract. Sabrina Chao in female line of succession at Bimco The aim is to provide a balanced set of terms and conditions to both parties in the process. The contract, known as Dismantlecon, will be released at the end of June. "Dismantlecon is a marine services contract designed to appeal equally to the
Samsung to appeal $180m Ensco drillship award Korea's Samsung Heavy Industries is to appeal a $180m damages award to Ensco over a cancelled drillship charter contract. The shipbuilder said a London arbitration tribunal had ordered the payment as compensation to the UK-based company. Ensco had started proceedings against Samsung in 2016 after its charter deal with Brazilian oil major Petrobras was cancelled over corruption charges. It claim
MPCC brings in Pareto to boost liquidity Oslo-listed MPC Container Ships (MPCC) is bringing in Pareto Securities to boost its liquidity. The expanding boxship owner has entered into a market-making agreement with effect from 20 May. "The purpose of the agreement is to increase the liquidity of the company's shares," it said. Such deals involve market makers quoting prices for a guaranteed number of shares. They make it easier for tra
Yard conditions condemned after fatal aframax blast Pressure group NGO Shipbreaking Platform has condemned working conditions after a fatal blast on a tanker at a Bangladeshi breakers. The explosion took place on the 106,000-dwt Bunga Kelana 4 (built 1999) on Wednesday in Sitakunda, killing two men and severely injuring five others. Watch the aftermath of the blast here Flames spread from abandoned waste oil near to the engine room where workers
Frontline profit soars as tanker rates rise John Fredriksen's Frontline has logged a big return to profit in the first quarter as rates jumped. The tanker owner said net earnings to 31 March were $40.11m, against a loss of $13.55m in 2018. Revenue grew to $238.27m from $169.62m as average spot daily time charter equivalent rates for VLCCs, suezmaxes and LR2/aframaxes reached $35,700, $28,200 and $24,000, respectively. Shipowner John Fred
BW LPG loss grows but recovery underway BW LPG is hopeful of rates rising back above break-even this year after it posted a bigger loss in the first quarter. The Singapore owner said the net deficit was $23.5m compared to $8.4m in 2018. Revenue grew to $118.1m from $117.9m, but voyage expenses rose to $57.84m from $44.68m. BW lifts Epic Gas stake to 83% with latest share deal Depreciation was also higher. VLGC time charter equivale
BP swoops on BW LNG gas carrier newbuild in period deal Major set to spread risk by taking a vessel from an established player on a multi-year charter
Buyers swoop on cut-price classic panamax boxships Borealis Maritime, Sinokor and Celsius Shipping among names to enter fray for discounted secondhand boxships
Paul Newton's exit from AXA XL leaves hole in hull body For second time in a year, the chairman of the Joint Hull Committee is forced to step down after losing their job.
Boskalis loses appeal in OSV charter time-limit battle Dutch group Boskalis has failed in a bid to overturn a UK tribunal ruling that it must hand over EUR 1.47m ($1.64m) in a row over a time limit contained within an OSV charterparty. Sir Ross Cranston, sitting as a UK high court judge, said the case involved UK owner Atlantic Marine and Aviation's 3,200-dwt multi-functional support ship (MSV) Atlantic Tonjer (built 1983). The appeal related to a c
NYK to fit scrubber to cruise ship Asuka II Japanese largest cruise ship set to enter Sembcorp Marine's Admiralty yard in early 2020.
Grimaldi car carrier hit by fire off Spain A Grimaldi Group car carrier has suffered a fire off Spain. The blaze broke out on Wednesday morning on the 3,320-lane-metre Grande Europa (built 1998) off Majorca. Spanish authorities said the ship was loaded with 1,843 vehicles, according to AFP. Fifteen of the 25 crew were taken off the vessel by helicopter. The rest stayed to tackle the fire, which was brought under control and
Dryad down plays fears of further Iranian threat to tankers Security firm says incidents, such as those off Fujairah, are likely to be "less frequent".
SunStone confirms Silver Discoverer sale Miami-based cruise company says two more of its cruiseships are still up for grabs.
Singapore flags risk of increased maritime security threats Defence minister also reveals concerns about security threats during Trump-Kim summit on Sentosa.
Ezion Holdings slashes the red ink in first quarter Singapore firm's road to recovery hampered by delay in securing additional revolving credit facilities.
BNSF breathes new life into Portland terminal Shuttle trains now move ocean containers between the Oregon port's Terminal 6 and Seattle and Tacoma following a series of labor disruptions and shutdowns.
Fitch: U.S. ports' revenues insulated from tariffs Credit rating agency says while traffic may fall, revenues are not likely to be affected in the medium term.
Trade momentum picks up at U.S. southern border Customs brokers facilitating imports from Mexico into the U.S. have witnessed improved cargo processing by CBP at the southern border ports of entry.
MARAD bill includes $600 million for port, intermodal work A Senate committee on Wednesday approved the Maritime Administration Authorization and Enhancement Act, legislation introduced by Rep. Roger Wicker on Tuesday.
Port of L.A. accident kills dockworker, injures another A container top loader reportedly exploded Wednesday morning at Fenix Marine Services' Pier 300 container terminal.
Two fires break out on Grande Europa The Grimaldi Group ship was taken to the Spanish port of Pama de Mallorca Thursday following the incident, which came about two months after the Grande America sank.
Pelosi: 'Pivotal moment' for infrastructure The House Speaker said Tuesday during the Transportation Construction Coalition fly-in she is optimistic about a possible infrastructure package.
Trump order aims to cut off Huawei from U.S. tech While not named in the executive order, Huawei Technologies Co. Ltd. and its affiliates will be added to the Bureau of Industry and Security's Entity List.
DP World acquires another British Columbia terminal
Deutsche Post DHL 'will take a big step forward' in 2019
DHL Express launches fully automated drone delivery in China
Containerization & Intermodal Institute to fete Shea, Lytle
FUTURES: Geopolitical tensions push crude futures higher Crude oil futures remained bullish midday Thursday as geopolitical tensions outweighed uncertainty about demand.
UPDATE: Denmark's Monjasa sends tanker to support bunker ops in English Channel Denmark-based fuel trader and supplier Monjasa said Wednesday a new 10,300 dwt tanker, C Force, would be sent to join bunker supply operations in the English channel, covering the UK and ports in northern France.
Singapore delivered/ex-wharf 380 CST bunker still tight The spread between Singapore delivered and ex-wharf 380 CST bunker fuel prices has remained narrow over the second quarter to date, with weak demand capping recovery in delivered bunker premiums, sources said.
Bad weather in Malta impacting bunkering operations Bad weather in Malta has led to delays for bunkering operations in the port, market participants said Thursday.
Singapore port authority classifies exhaust gas cleaning residues as toxic waste "Ships that wish to dispose of exhaust gas cleaning residues in Singapore are required to engage a licensed TIWC for the collection and disposal of such residues," MPA said.
External: Global Risk Management
TRADER NOTE: Epic Gas appoints Andreas Sohmen-Pao as chairman These changes come after BW Group in March said it had acquired a majority stake in Epic Gas.
FUTURES: Oil remains higher on supply woes, Middle East tensions "Asia can expect a consolidative session as Middle East tensions support the downside while trade tensions cap gains," an analyst at OANDA said.
Japan's NYK Line, J-ENG partner to develop biofuels for decarbonization J-ENG plans to carry out the engine test using the biofuel from GoodFuels.
Global oil supply uncertainties 'being managed': IEA "The IEA is reassured to see that the challenges posed by the supply uncertainties are being managed," it said.
Environmental groups urge IMO for immediate moratorium on use of scrubbers Scrubbers have been referred to as "emissions cheat" systems and for "good reason", the groups said.
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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