Cook Inlet puts newly acquired tugs to work Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime Company, reports that operations on Alaska's North Slope are officially underway for the 2019 ice-free season. Three newly acquired
Crowley promotes Peter Sutton Crowley Maritime Corp. has promoted Peter Sutton to vice president of health, safety, security and environment (HSSE) and operations integrity for the company's Shipping business unit. In his role, he will lead
Arrest in illegal charter boat case A Michigan man has been arrested on federal criminal charges for allegedly conducting illegal charter boat operations on Chicago waterways. According to a criminal complaint and affidavit filed in U.S. District Court
Canada awards Davie, Seaspan frigate maintenance contracts Canada has unveiled plans to invest C$7.5 billion (about US$5.74 billion) in maintaining the Royal Canadian Navy's fleet of 12 Halifax-class guided missile frigates between now and their planned retirement in the
Diverted Iranian tanker's trading patterns raise suspicion Iranian forces towed the tanker Riah into Iran's waters after receiving a request for help, Foreign Ministry spokesman Abbas Mousavi...
Top Ships seals $25.6m deal with Chinese financier Nasdaq-listed tanker owner Top Ships is using a Chinese financier to reduce the costs of its debt on three ships
Oil tanker investments at risk from decarbonisation A new report by MSI foresees that the number of oil tankers is likely to decline by a third between...
HSFO bunker demand to more than halve after 2020 The forecast of a more than halving of demand is based on 90-95% compliance with IMO 2020, which will undermine...
Germany accedes to Hong Kong convention on ship recycling International Maritime Organization convention now supported by 13 countries, but ship-recycling nations still lacking
Unifeeder to offer eight weekly sailings from Sweden New service is said to be aimed at providing multimodal routing options for Swedish exporters in a country that has...
Maritime Intermodal starts new rail services from London Gateway Additional trains at London Gateway will provide greater scale as container volumes at the port continue to grow
Overcapacity still putting pressure on container rates Scrubber refits will take out some capacity ahead of IMO 2020, but pressure will remain in charter rates for smaller...
Indonesia to divert more LNG cargoes before demand ramps up Energy consultant WoodMac predicts that Indonesia will require LNG imports only from the 2030s. That would predispose the country's national...
Logistics firms face risks in adopting new technology Logistics firms are still struggling to implement established technology and services
Digital ship funding platform brings on board Greek consultancy Greek shipping finance consultantancy will handle 'part of the analytics' for new electronic platform founded by Dagfinn Lunde, Marina Tzoutzouraki...
Daily Briefing British-flagged ships avoid Gulf amid Iranian threats | Legal bid to block release of seized Iranian tanker | China LNG...
FortisBC secures first-term sales of Canada LNG to China FortisBC looks set to ramp up LNG exports from the Tilbury project, which underwent expansion to boost its liquefaction and...
Iran says missing tanker was rescued and towed for repairs The Riah had been regularly shuttling between United Arab Emirates and Gulf of Oman for months before it deviated off...
Pioneering LNG bunker vessel prepares for key gas trials Test of KC-1 system's performance will be carefully watched by two other firms embroiled in row over the technology
'Wing in a box' trials go deeper for wind-assisted propulsion eConowind makes first sale of retrofit system to Dutch shortsea operator Van Dam
Asian buyers shun Iranian crude as US sanctions kick in Iranian oil sales to Asia have all but dried up as sanctions waivers expire
Sun Enterprises books aframax tanker newbuildings at Daehan Two-ship deal at South Korean shipyard marks Greek owner's return to the sector
China cracks down on stealth ships calling at Yangtze ports River patrols target foreign-flag general cargoships that turn off transponders to avoid entry formalities
The dark trade of 'hijacked' product tanker Riah Tanker caught in Middle East Gulf hijack scare spent a lot of time hiding its location, so what was it up to?
Wellard gets $22m in finance deal for livestock carrier Australian livestock exporter is selling vessel to pay bank and bondholders
First LNG freight swap executed, ushered along by Affinity Total Gas & Power and Glencore executed the trade, facilitated by shipbroker Affinity
Germany ratifies Hong Kong Convention Hong Kong Convention moves 'a step closer to its entry into force'
First Ship Lease converts $7.25m in bonds First Ship Lease Trust (FSL) has almost 175 million more shares on the Singapore Exchange. FSL Trustee Management, acting as trustee-manager of the Roger Woods-led diversified owner, has exercised its right to turn $7.25m in redeemable 7% convertible bonds into stock at $0.04157 per share. Topouzoglou move to up stake in First Ship Lease Trust The new units shall be equal to FSL's issued shares
Diana Shipping fixes panamax on period as spot rates hit six-year highs Diana Shipping has fixed one of its panamax bulkers on a short-term period contract as the spot market reached its best levels in almost six years. Panamax bulker market posts massive gains but correction looms The 75,700-dwt Selina (built 2010) was fixed to Hong Kong-based Ausca Shipping for a period of seven to nine months. The gross rate is reported at $11,750 daily, minus 5% commission for
Shanghai and Dubai add to squeeze on London as leading shipping hub London's position as a top three maritime city globally is coming under pressure from both Shanghai and Dubai, according to the latest rankings. While still the dominant shipbroking hub, London was pushed out of second spot on the Xinhua-Baltic International Shipping Centre Development Index by Hong Kong last year and now the two other cities in the top five are closing in. London falling: UK sh
Attica in €175m bond sale to roll over debt, buy scrubbers Greece's biggest ferry company to spend up to €26m on marine exhaust gas cleaning systems
Eimskip bids to halt competition probe Icelandic owner goes to court to stop "illegal" investigation.
Royal Caribbean cancels Puerto Rico call amid political strife Royal Caribbean Cruises has cancelled a planned call to San Juan, Puerto Rico, amid political strife in the US territory's capital city. Thousands of protesters on Monday marched the city's streets, calling for governor Ricardo Rossello to step down two days after the reported discovery of inappropriate emails with closest aides. "In light of current unrest in San Juan, Puerto Rico, we have canc
Svitzer strikes end as tug crews agree pay deal The long-running dispute has caused 11 strikes by members of the Nautilus trade union.
LPG and tanker stocks race ahead of S&P 500 as recovery unfolds Tanker and LPG shipping stocks are outperforming the S&P 500 this year despite the wider industry being out of fashion on Wall Street. While LNG, car carrier and chemical tanker shares have struggled to date in 2019, overall shipping equities are up 15%, according to data from Clarksons. The LPG peer group has been the shipping world's top performer this year, with John Fredriksen and Stolt Niel
Hyundai Heavy workers vote to strike South Korean shipbuilder faces more disruption over wages.
Havyard Group bondholders sign off on waivers Havyard Group's bondholders have joined other creditors in providing covenants waivers for the company. The move means the Norwegian shipbuilder now has waivers in place for all its key financial arrangements, after uncovering "significant accounting deviations" that sparked the breach. Havyard faces covenant breach after accounting 'deviations' Canadian owner behind Havyard PSV resale Just
Russian cargoship crew running out of food Master also says seafarers on detained cargoship have not been paid.
Liberalisation will do little for China's struggling port agencies 'Chaotic' competition and thin margins make it unlikely new players will rush in
Rising US energy exports set to spark demand for both large tankers and LPG carriers Hike in output anticipated to drive the need for 50 extra large tankers and a similar number of big gas carriers
JGC to build LNG ship-fuel plants Japanese engineering company wins contract for Total refinery in Oman.
Energy transition to have 'radical' impact on shipping markets and asset values Tanker and bulker owners could see asset values plunge as a global energy transition slices demand for their vessels and the world fleet shrinks, Maritime Strategies International has warned. While containership owners will escape largely unscathed in the doomsday scenario as coal and oil become increasingly sidelined, shipping lenders will also be caught in the fall-out, MSI predicted. Shell a
Swedbank cuts dividend to strengthen capital Swedish owner chops payout from 75% to 50% of profit.
Idle boxship fleet grows as scrubbers fitted Alphaliner identifies 118 vessels out of action due to yard calls.
MSC cracks down on shark fin trade Swiss liner giant clarifies zero-tolerance policy.
Clyde & Co shipping lawyers suspended for alleged financial misconduct Two shipping lawyers have been suspended from Clyde & Co's London office while the law firm investigates suspected financial misconduct by the pair. Ince quartet head to Clyde & Co The pair include a partner at the firm and an associate, TradeWinds has learned. Clyde & Co told TradeWinds: "We can confirm that we have referred two solicitors to the Solicitors Regulatory Authority of England & Wa
The debates that could reshape climate rules and the IMO itself Empowering developing economies while lifting restrictions on the press and lobby groups will likely change how the regulator makes decisions
Standard Club turns P&I focus on mega-boxship blazes P&I insurer warns members of problems linked to ultra large boxship fires after run of recent incidents
Spar Shipping posts doubling of annual profit But Norwegian bulker owner is not optimistic about 2019 and is now pursuing a spot-oriented charter policy due to prevailing weak markets
Hunter Group hires Swedbank executive as new finance chief Arne Fredly's Hunter Group has hired Swedbank corporate finance executive Lars M Brynildsrud as its new chief financial officer. Charters behind double VLCC strike by SK Shipping emerge as price focus intensifies Koch strikes VLCC charter that raises questions over Hunter sale Brynildsrud will work alongside chief executive Erik Frydendal who had previously held both positions. Hunter has ma
Khamenei: UK will pay for "wickedness" Iranian supreme leader reiterates retaliation threat after Grace 1 seizure.
Drugs ship released after MSC pays $50m MSC Gayane goes free after security deposit and surety bond handed over to US authorities.
Differing fortunes for capes and handies in post IMO 2020 world Capesizes set to fair better in post 1 January, with handies set to suffer, says analyst.
Keppel bags dredger and FPSO contracts worth $95m Deals mark third time respective customers have placed contracts with Singapore group
'Clear line in the sand' on Huawei A bipartisan group of U.S. lawmakers introduced legislation that would require congressional approval to remove Huawei from the Commerce Department's Entity List.
Mexico marks vehicle export record A record number of Mexican-made vehicles cross the borders to be sold in North American and Asian markets.
CBP making gains on fentanyl trafficking A House subcommittee told Tuesday CBP fentanyl seizures thus far in FY19 equal all of FY18.
WTO: US violated trade rules The World Trade Organization Appellate Body finds against prior U.S. CV duties on China.
FUTURES 5: Oil prices ease following steep US refined-product build Oil futures settled lower Wednesday after US Energy Information administration data showed a surge in US refined product inventories in the wake of Hurricane Barry last week.
Tight HSFO supply in Singapore boosts arbitrage opportunities Tight supply of high sulfur fuel oil in Singapore is boosting arbitrage economics for deliveries to Asia from Europe and Russia, but the timeframe for opportunities may be limited, market sources said this week.
Bunkering operations curtailed at Spanish port of Las Palmas Bunkering operations at the Spanish port of Las Palmas in the Canary Islands have been reduced due to bad weather, sources said Wednesday.
Unerco Petroleum launches as new bunker fuel supplier in Turkey
Iran claims missing small tanker in Strait of Hormuz has been taken for repairs
Iran's exports nosedive as it starts to build oil flotilla China is continuing to import Iranian crude, much of it in the form of debt repayment.
ANALYSIS: Strong gasoil EFS fails to dent newbuild VLCC East-West fixtures "The arbs are now shut but I have the impression that there is a rather good amount of product here," a Europe-based trader said.
State oil giants raise trading game in battle for global flows Middle Eastern, North African NOCs are going head to head with independent oil traders and integrated oil majors to capture a larger slice of the global energy commodities market.
US readies plan for escorting oil tankers through Strait of Hormuz "We do need to internationalize an operation to enhance maritime security," Hook said.
TRADER NOTE: Fuel oil trader Hsieh Dean Horng leaves PetroChina Hsieh had worked at the company since 2007.
Measures to transition to IMO 2020 to gain pace in Q3: Fratelli Cosulich CEO Come 2020, another issue will be who will control the supply chain, Cosulich said.
DUBAI FUTURES: Sour crude resists Brent crude slide on US-Iran rhetoric "The possibility of US-Iran rapprochement seems to be deflating geopolitical risk right now," Tradition Energy analyst Gene McGillian said.
Singapore 380CST HSFO Aug/Sep rebounds as focus shifts back to supply tightness "The market has stabilized after the plunge," a Singapore-based trader said.
New EU Commission president plans 2050 EU net-zero CO2 law "Emissions must have a price that changes behavior," Ursula von der Leyen told the European Parliament earlier on Tuesday.
Compliance with IMO 2020 likely around 90%-95% in initial years: consultant "There will be a lot of whistle-blowing activity. But there will be non-compliance for sure," Tolson said.
Japan 'not considering' sending forces to defend Strait of Hormuz: minister "At present, we are not considering sending the Self-Defense Forces," Iwaya said at a press conference in Tokyo.
TRADER NOTE: Marco Perassolo joins Gunvor as LSFO trader Perassolo previously worked as a fuel oil trader at Totsa.
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