TEN eyes further LNG carrier orders TEN, Ltd (Tsakos Energy Navigation) (NYSE:TNP) today reported new charters for its two LNG carriers, the Neo Energy and the Maria Energy, to what it called "significant international energy concerns" for an
VIDEO: Newport News installs upper mast of CVN 73 Huntington Ingalls Industries' (NYSE:HII) Newport News Shipbuilding division has reached a highpoint in its refueling and complex overhaul (RCOH) of the nuclear aircraft carrier USS George Washington (CVN 73). The shipyard installed
Navy issues RFI for Large Unmanned Surface Vessels One of the surprises in the Navy's FY2020 budget request was the inclusion of "two large unmanned surface vessels" in the ship construction submission. As we noted earlier this week (see story),
Wärtsilä tests AR-based vessel repair and maintenance service In what promises to be a breakthrough in vessel repair and maintenance operations, Wärtsilä has successfully tested a new remote guidance service. It enables ship crew members, field service engineers and shipyard
Candies IMR vessel features three Schottel propulsion systems The U.S. built, U.S. flagged Inspection Maintenance Repair (IMR) vessel Paul Candies is equipped with three different Schottel propulsion systems. Owned by Otto Candies, LLC, Des Allemands, La., and built by its
Hill Dickinson strengthens international maritime team International maritime law firm Hill Dickinson has made a trio of high level appointments, hiring Master Mariner Kevin Austin, Korean market specialist Beth Bradley, and transactional lawyer Sung Hwan Choi. Austin, currently
Bouchard takes delivery of a further ATB Melville, N.Y., based Bouchard Transportation Co., Inc. has taken the delivery of ATB unit M/V Evening Breeze and Barge No. 252 (B. No. 252) from shipbuilders VT Halter Marine Inc. and Bollinger
East Coast ports highlighted in US budget proposal Proposal supports efforts to accommodate 14,000 teu to 18,000 teu vessels on the east coast
Norden expands into Africa The Abidjan office, which will be Norden's 11th, is due to become operational in the second quarter
Hill Dickinson adds to ranks from rivals Beth Bradley, Kevin Austin and Sung Hwan Choi join from Clyde & Co and Norton Rose Fulbright
Much lower iron ore trade growth to claim capesize earnings potential London-based consultancy expects iron ore trade growth to sink to 0.1% in 2019 from expectations of 4.6% before the Brazilian...
First shipping blockchain 'IPO 2.0' forecast for 2019 UK-based start-up Value on Chain says that its blockchain-based platform will help open up the industry to new investment
The Lloyd's List Podcast: Looking beyond Brexit with the new head of the UK's MCA Listen to the latest edition of Lloyd's List's weekly podcast - your weekly briefing on the stories shaping shipping in...
Is the US west coast big-ship ready? Terminals in the Californian ports of Los Angeles and Long Beach are able to handle ships of 18,000 teu or...
Contship Italia seeking Gioia Tauro box terminal buyout Medcenter Container Terminal concession at Gioia Tauro will continue to be fully operational during the negotiations
Idle numbers keep box charter market in check The acid test for the charter market will be its ability to absorb some of the idle ships holding back...
RCL revamps China-Southeast Asia services RCL is making adjustments to the partnership it has set up with CMA CGM intra-Asia unit Cheng Lie Navigation Co
Daily Briefing Maersk to set own hull pricing as more insurance switched to captive | PDVSA's woes deepen | Exclusive interview with...
The Interview: John C Hajipateras John Hadjipateras, the chief executive of New York-listed Dorian LPG and the Connecticut Maritime Association's 2019 Commodore, talks about Scorpio's...
Wilhelmsen drone project makes first shore-to-ship delivery Autonomous unmanned aerial vehicles or drones can potentially reduce delivery costs by up to 90% in some ports and have...
Globus Maritime falls deeper into the red Athanasios Feidakis-led bulker owner sees better revenue but higher costs.
Capesize freefall hits the brakes as oversupply for iron ore is tempered Rate upswing for troubled dry bulk asset class may be short-lived, analyst says.
Tanker rate spike pushes Sovcomflot back to profit in fourth quarter Rebounding tanker rates propelled Russian shipowner Sovcomflot back into the black in the fourth quarter of 2018 and the confidence has transferred into this year. Sovcomflot 'contains the bleeding' with tanker seasonality set to return VEB lines up $152m financing for SCF tankers Sovcomflot poised to order first ship for Arctic LNG 2 Frustration at speed of LNG-fuelling uptake boils over
Algoma Central to pursue buyback and cancel plan Algoma Central has received the go-ahead for a plan to pump up the price of its shares. The Canadian bulker and tanker owner announced Friday that the Toronto Stock Exchange has given its normal course of issuer bid the green light, carrying over a policy from last January. The plan allows Algoma to purchase up to 1.9 million of its own shares - 5% of its 38.4 million outstanding shares - over t
Pantheon parts with tankers worth $45m ahead of newbuilding expansion Major Greek tanker company Pantheon Tankers is shedding older tonnage, making way for a dozen newbuildings. The Anna Angelicoussis-controlled outfit has parted with a 15-year old VLCC and a 16-year old suezmax, raising close to $45m in the process. Several brokers in Greece and the UK said the 318,300-dwt Sea Lynx (built 2004) has gone to unidentified Thai buyers for $31.5m. Some of them are l
Over 3,000 ships to boast scrubbers by the end of 2020 Over 3,000 ships are set to be fitted with scrubbers by the end of 2020, according to the latest statistics. George Economou: 'The Gods Must Be Crazy' to cram sulphur limits on shipping A surge in demand for companies to fit scrubbers next year means 3,018 vessels will have the equipment by the close of 2020, according to DNV GL data cited by DNB Markets. The numbers of March show an extra 316
Torben Janholt snaps up Torm shares with tankers on upward curve Danish shipping veteran Torben Janholt has bought a bundle of shares in Torm with the tanker owner on track for its best quarterly performance in three years. Torm on track for best quarterly profit in three years Oaktree picks Janholt for Torm seat Janholt, a director of the product tanker heavyweight, picked up DKK 299,584 ($45,498) worth of stock, according to a filing released this aftern
Sheriff tries again to sell Lewek Penguin The Sheriff of Singapore is launching a third auction for restructuring EMAS Offshore's anchor-handler Lewek Penguin. The 10,800-bhp ship (built 2007) will be sold on 8 April via sealed tenders. The previous sale closed on 12 February. New auction scheduled for EMAS anchor-handler The buyer will have to pay SGD 16,650 ($12,200) on top of its bid price for bunkers on board. The Pan United-buil
New Clarksons chairman buys stock worth £50,000 New Clarksons chairman Bill Thomas has invested almost £50,000 in the company in his first foray into the stock. Clarksons profit down slightly after tough start Peter Anker leaving Clarksons board Thomas, who was appointed to replace James Hughes-Hallett last month, made the move at the same time as fellow director Peter Backhouse has added to his holding. Thomas's initial stake spans 2,803 s
Teekay Corp, Teekay Tankers reshuffle boards Teekay Corp's chairman William Utt is stepping down as boards are cut to seven members
PEMEX contract lifts Borr Drilling rigs out of lay-up Utilisation remains a balancing act for the Oslo-listed drilling company, but revenues have surged since 2017
France works to contain Grande America spill French authorities were working on Friday to contain a fuel spill from the sunken Grimaldi ro-ro Grande America. The 57,000-gt ship (built 1997) went down 330km west of La Rochelle earlier this week following a fire on deck. French and British rescue teams saved all 27 crew. Images released by the French navy this week showed flames and plumes of black smoke spewing from the ship as it listed s
DSME finally hands over Sonangol drillship Korea's DSME has finally delivered the first of two drillships ordered by Angola's Sonangol in 2013. The KRW 900bn ($800m) pair were originally scheduled for handover in 2016 at a combined price of KRW 990bn. The yard ended a 12-month dispute over the delayed vessels last year, agreeing a reduced fee. The second ship will be handed over within two months, DSME said on Friday. Sonangol reported
Trafigura seals new finance worth $2.05bn Trader and tanker operator Trafigura Group has sealed new financing worth $2.05bn. It said the 365-day multi-currency syndicated revolving credit facility was "very well received by the bank market" and "substantially oversubscribed." Trafigura moves for TNG MRs The deal was initially launched with the idea of raising $1.5bn. The cash will refinance the maturing $2.2bn 365-day tranche of the c
Hill Dickinson poaches three high-level staff from rivals Hill Dickinson has poached a new legal director and two new partners from rival firms, who will join its London and Singapore offices. Kevin Austin is leaving Norton Rose to join his new employer's London office as a legal director. Hill Dickinson said Austin is an experience master mariner and is well known in the London Hull Market. The firm said making a "strategic rearrangement" to its mari
Paulson backs away from International Seaways New York asset manager still an INSW' top investor
Greek shipowners in pole position as Glencore arm shows hunger for product tankers Glencore's ST Shipping has been active in the period market for medium range tankers. The operator has reportedly chartered as many as three ships in the sector, including to from Greek owner Benetech Shipping. Glasenberg's Glencore places cap on coal production The 50,000-dwt Galissas (built 2008) has been taken for one year at $13,500 per day with an option for a second year at $15,500 per d
Double fire probed on Zeaborn-managed boxship An investigation is taking place into two fires that broke out in containers on a Zeaborn-managed post-panamax off China. The German company told TradeWinds the first blaze took place on the 5,754-teu ER Kobe (built 2001) on 13 February as it headed from Haiphong in Vietnam to Qingdao in China. This occurred in three boxes on deck that were loaded with charcoal. Blaze breaks out in cargo holds
IMO 2020 tanker storage business starts to take shape in Asian waters Euronav is not the only company looking to storage ahead of IMO 2020 with traders now holding a handful of ships in Asia with an eye on the new emissions rules. Euronav buys fuel oil cargoes for 2020 ULCC storage play Three to four VLCCs are stationed off Malaysia and Singapore storing low sulphur fuel oil components, Platt's reported this week. "There should be some middle distillates and low
All eco options open for Grimaldi Grimaldi group company Finnlines will keep investing in green initiatives for its fleet, CEO Emanuele Grimaldi has pledged. Writing in the company's annual report, he said: "We have invested over EUR 1bn ($1.13bn) in the past decade and in the coming years will invest over EUR 500m in new technology, in digitalisation, in green shipping for our customers." Part of this is its investment in three
Boa: significant OSV over-capacity remains Boa Offshore has said OSV markets remain challenging due to "significant" vessel over-capacity. The medium to long-term outlook improved during 2018 on the back of increasing oil prices over the last two years, the Norwegian owner added. There are also "lowered hurdle rates" for new field developments for oil companies, and increased volumes of sanctioned offshore field development investment pr
Japanese VLCC tipped to head down demolition route Tanker market players are watching a Japanese owned VLCC to see if the big tanker market will see only its second scrap sale of 2019. Tanker scrapping hits highest level in over 30 years VLCC scrapping set for respite before regulation-driven spike After a blockbuster 2018 for crude tanker demolition, VLCC scrapping has ground to a halt this year. Demolition market sources say the 265,300-dwt
Bondholder takes over former Rongsheng yards China Huarong Energy has completed the sale of its shipyard assets to a bondholder. The share transfer was completed this week, it said. The Hong Kong-listed company agreed a deal with the unnamed bondholder last year for the former China Rongsheng Heavy Industries' "non-performing and debt-burdened" yard and engineering business. Both parties released all debts on completion. China Huarong wi
$600m drillship up for sale A $600m drillship is up for sale again following a move to a port in Wales. The 61,600-gt Sertao (built 2012) has been moved from Tilbury as Platform Brokers (PB) seeks a buyer. Seller Dleif Drilling, a US-registered company, took possession of the vessel after a court order in Brazil. Deal agreed after DB tries to cut out Kellock from drillship sale It used to be owned by Brazil's bankrupt Sh
Wilhelmsen's delivery drones take flight The Wilhelmsen group has launched its drone delivery service to ships. The Singapore pilot project is being run with Airbus. A variety of small, time-critical items have been flown out to working vessels at anchorage. The drones have lifted off from Marina South Pier in Singapore with 3D printed items from Wilhelmsen's onshore 3D printing micro-factory. The Airbus Skyways drone navigated auton
Japan sees orders slide 20% in gross tonnage terms Shipbuilders haul in orders for smaller ships, as order backlog dips below 500 ships and 25mgt.
Hapag-Lloyd Cruises opts for MGO to meet IMO 2020 Fuel switch comes on top of SCR catalytic converters and cold ironing technology on ships.
Fred Olsen Windcarrier seals Yunlin windfarm contract Taiwan proving happy hunting ground for installation contracts for offshore vessel operators.
Singapore tugs and barges back on thieves' radar Unmanned vessels with scrap metal cargoes among those most frequently targeted, says ReCAAP.
Commentary: U.S.-produced oil, LNG will ease sulfur cap woes "The second wave of the U.S. shale revolution is coming," says the International Energy Agency, which released its five-year forecast for world oil production Monday.
Freightos sees ocean freight rates falling Rates from Asia to the U.S. East Coast have fallen since the fourth quarter of 2018, and there are "several signs of slowing world trade."
Brexit may be 'biggest challenge' in years for U.K. logistics U.K. Freight Transport Association doubles down on advice to members to plan for a worst-case scenario.
CMA CGM increases CEVA ownership to nearly 89.5 percent French container carrier increases ownership of Swiss logistics company after monthlong tender offer.
Maersk to charter 13 new feeder ships
Second fuel spill found near Grande America sinking
Russian Novorossiisk bunkering resumes on better weather: sources
Market outlook has OPEC in wait-and-see mode
Fuel oil stocks in ARA rise amid slowdown in arbitrage east, port delays
First rises in oil refinery margins since Nov on lower runs: IEA
Marine Environment Protection Committee likely to advance unresolved issues in May around IMO 2020: IBIA Details on FONARs, scrubbers and role of suppliers in carrying out pre-tests awaited by the industry.
Singapore residue stocks jump 9.1% on week to 1-month high on higher imports "If you compare to February [it's] slightly better, but by no means good," a bunker trader said.
External: Global Risk Management
Singapore middle distillate stocks ease on higher gasoil export flows "I believe the market is still very healthy actually," a gasoil trader said Thursday.
FUTURES: Crude stable ahead of OPEC meet "The mood was rather subdued, with traders happy to sit on the sidelines heading into the weekend," ANZ analysts 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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