LNG: AG&P takes stake in "Detachable Stern Vessel" innovator Singapore-headquartered Atlantic Gulf & Pacific (AG&P), a global downstream gas and LNG logistics specialist, has made a strategic equity investment in Kanfer Shipping. Kanfer is a Norway-based developer of small-scale LNG sea
Søren Toft packs his bags for Geneva and new job at MSC Earlier this month, Maersk Line parent company A.P. Møller - M'rsk A/S reported that Chief Operating Officer Søren Toft had decided to "pursue an opportunity outside of the company." Now we know
Danfoss Editron appoints new Marine Director Danfoss Editron has appointed Erno Tenhunen as its new Marine Director. He will lead the company's marine business, with overall responsibility for sales, the delivery of projects and developing new systems technology
Malaysia bans open-loop scrubber discharges in its waters Malaysia's Marine Department has issued a notice to inform the shipping community that Malaysia prohibits the discharge of wash water from open-loop exhaust gas cleaning systems while in Malaysian waters (12 nautical
Fincantieri Bay orders MacGregor piggy-back hatch covers Cargotec Corporation's MacGregor unit has secured an order to supply Fincantieri Bay Shipbuilding, Sturgeon Bay, Wis., with a complete set of remote operated piggy-back hatch covers with hydraulic lifting and an internal
USCG: OSV and tug collision causes 3,000 gallon diesel spill The Coast Guard has been responding to an oil spill near Port Arthur, Texas, after Coast Guard Sector Houston-Galveston watchstanders received a report of a collision involving the180 ft offshore supply vessel
Toft's surprise move makes good sense for both sides The Aponte family has kept a firm grip on MSC, but bringing in outside expertise is understandable at a time...
Iraq's port of Umm Qasr disrupted by more protests The port was working at 50% of capacity and operations may be completely halted if the protests continue, port officials...
MSC names Maersk's Søren Toft head of container businesses Mr Toft's appointment as head of Mediterranean Shipping Company comes a week after he quit his role as chief operating...
Russia releases Ukrainian naval vessels seized last year Ukraine's Ministry of Foreign Affairs said the three captured ships were now headed to Odessa
Hong Kong to remove profit tax for shipping lessors Frank Chan, secretary for transport and housing of the city's government, tells a shipping conference that the leasing houses providing...
Seafarers would change jobs for internet access The vast majority of seafarers without internet access would change jobs to receive it, according to a new survey by...
US gasoline and blendstock imports gain as European shipments slow Refineries switching over to very-low sulphur fuel oil is starting as shipowners begin using lower-sulphur bunkers as mandated by the...
RMK adds to London presence with two key appointments Duo will bring a wealth of experience including originating and structuring loan transactions, sale and purchase of second-hand vessels, and...
Cash buyer signals scrapping 'deluge' after ship recycling falls 35% Industry players hope for an improving recycling market going into 2020. They would like to think they have seen the...
Indonesia's Kuala Tanjung adds Chinese partner to boost port development The agreement means to increase Kuala Tanjung's capability to compete with other ports along the Malacca Strait
Daily Briefing Free to read: Søren Toft linked to key role in MSC management shake-up | Maersk lowers container growth outlook | The...
MSC mega boxship call reaffirms Hong Kong's transhipment value The 23,656 teu Gülsün class vessel set a new record for the port as the first containership with a capacity...
ICTSI proposes bid for central Philippines port The Iloilo-Dumangas bid is ICTSI's first foray into the Visayas archipelago and would expand its central Philippines' port network beyond...
Nam Cheong enters offshore engineering with Labuan tie-up Shipbuilding subsidiary Nam Cheong Dockyard intends to redevelop existing facilities on government land into modern integrated marine engineering and construction...
Investor sells $21.7m worth of Genco shares A US investment firm has offloaded two million common shares of Genco Shipping & Trading, lowering its stake in the New York-listed bulker owner to just below 20%. Strategic Value Partners (SVP) now has 8.17 million shares in the John Wobensmith-led company for a 19.6% stake. That is down from 10.17 million units, or 29.4% interest, as of April 2018, according to an SEC document filed Monday.
BW Group looks to cash in with DHT sell off Andreas Sohmen-Pao's BW Group is looking to sell off a chunk of its position in DHT Holdings amid a strengthening tanker market. BW could move as many as 14.68m of its 48.8m DHT shares in an underwritten public offering, DHT said. BW Group invests in Flex LNG, becoming key shareholder Dorian LPG staying away from dual fueled retrofits for now On Monday, the tanker owner's New York-listed sha
Dorian LPG staying away from dual fueled retrofits for now Dorian LPG is content to be the second mover on LPG-as-fuel. Speaking on the Value Investor's Edge podcast with J Mintzmyer, finance chief Ted Young said the Connecticut-based gas carrier owner had done joint studies with the American Bureau of Shipping and Hyundai on running ships on both conventional bunker and LPG, but that "the economics don't support a retrofit." Dispute at shipyard delays
US investor takes 10% stake in tumbling Top Ships A Florida-based investment management firm is taking a notable wager on Top Ships, whose shares keep falling after a recent one-day plummet. Intracoastal Capital has bought 950,684 common units in the Evangelos Pistiolis-led tanker owner, reflecting a 9.99% stake in the Greek company. Intracoastal, which is led by Mitchell Kopin and Daniel Asher, has investments in 61 other companies, most being
Attorney-turned-witness in Keppel corruption case gets probation, fine The attorney that helped the US government secure more than $700m in fines from TechnipFMC and Keppel Offshore & Marine over bribery charges will spend a year on probation. Keppel agrees $422m in Brazil corruption fines Brazilian and Iraqi bribes end up costing TechnipFMC $296m Jeffery Chow will serve his sentence from his home in Singapore and pay a $75,000 fine, according to papers filed in B
Reports: Russia to release Ukrainian ships seized last year Russia is returning a Ukrainian tugboat and three small warships seized after the country blocked the Kerch Strait with a tanker last year. Russia had concluded "all necessary investigative activities" into the ships, its foreign ministry told RT, and the Ukrainian Navy is set to receive the ships today in Odesa. Ukraine seizes Russian tanker that blocked bridge UN-backed tribunal to hear Ukrai
Danaos to tap equity market with $55m common stock offer Danaos Corp plans to offer greater ownership in the company at shareholders' request. The John Coustas-led boxship owner is offering $55m of its common stock after some significant stakeholders showed interest in buying about $25m of it at the public offering price. About $17m is being offered by Danaos Investment Limited, the company's largest stockholder beneficially owned by chief executive
Wintermar wins seven-year contracts for PSV duo Indonesia's Wintermar has fixed out two platform supply vessels (PSVs) for seven years each. The company said the unnamed ships will take cargo out to rigs for a major oil and gas company in eastern Indonesia. Sugiman Layanto, Wintermar's managing director, said the project requires dynamic positioning 2 (DP2) operations while the vessels are approaching the platform. "With our long experience
DNG Energy closes in on South Africa LNG-bunkering project Company has lined up supply, a floating storage unit, a small-scale LNG vessel and a barge for 2020 start-up
Oldendorff Carriers and Massoel sell off handysize bulkers Oldendorff Carriers of Germany and Massoel of Switzerland have each sold a Chinese-built handysize bulker in a busy moment for both companies the sale and purchase market. Oldendorff, the bulker operating Giant, has sold the Chinese-built, 33,000-dwt Dora Oldendorff (built 2010) for almost $6.5m, sources said. This ship is due for special survey in January. Oldendorff wins five-year deal for bu
Malaysia bans use of open-loop scrubbers Asian country becomes latest to take tough stance on discharges in its waters
Pakistan re-emerges into scrap arena with suezmax deal Navarino said to have been sold on into Pakistan at a loss for cash buyer
Leader profile: A look at Tina Revsbech's CV Key highlights of the career of shipping executive Tina Revsbech, who has joined Canada's Fednav
Western Bulk eyes growth as it refreshes risk team Western Bulk is ringing the changes under new chief executive Hans Aasnaes, who replaced Jens Ismar in July.
Ugland's Bonita leaves Benin with new crew after kidnappings Norwegian-owned bulker heading to Brazil after nine seafarers were abducted
Creditors $24m out of pocket after TS Chartering collapse Trustee's lawyer says there is little prospect of recovering any money
MSC confirms Soren Toft as CEO to support Aponte family No start date yet as ex-Maersk man moves to Geneva with his family
Tina Revsbech switches from tankers to bulkers with job at Fednav Former BW Tankers chief executive Tina Revsbech is making a radical career switch. The Dane, who is known in the industry as an experienced tanker executive, is joining Canada's largest dry bulk company, Fednav. The move comes after Revsbech left the tanker arm of Andreas Sohmen-Pao-led BW Group last year following three years at its Singapore headquarters. Leader profile: A look at Tina Revs
NRP acquires Norwegian maritime centre NMK in Alesund Norwegian asset manager says office cluster is home to some of the most important shipping players
Bergshav denies aframax sale to Performance Shipping Norwegian company says it has no plans to sell tanker at what would be a profitable price.
Seven Islands snaps up Maersk Tankers handysize Expanding Indian owner pays $8m for 2004-built ship
Havyard unit's equity lost as covenant breaches revealed Norwegian shipbuilder says it has identified losses on more vessel projects
Saudi Arabian vessel 'attacked off Yemen' Tug Rabigh 3 reporting restricted manoeuvrability in the Southern Red Sea
Broker Frachtcontor seeks new talent as it eyes tanker expansion German shop's managing director Jens Christian Nielsen tells TradeWinds about switching into growth mode
Babycape grounding blamed on Aussie port's 'poor risk assessment' ATSB report said incident highlights importance of considering potential hazards from end to end
Solstad Offshore ties up CSVs old and new Fredriksen and Rokke-backed company signs chaters of between three and eight years
Teekay became 'collateral damage' in US Cosco sanctions LNG owner's chief executive spent two weeks in Shanghai resolving issue with Chinese owner
Growing Russian coal exports good for small bulker owners Over 75% of its coal exports are shipped as either supramax or handy cargoes, says Banchero Costa
COSCO's southeast Asia logistics arm reports near 46% fall in profit COSCO Shipping International (Singapore), a logistics-focused arm of COSCO, reports a big hit to its third quarter profit after tax. But the company nonetheless has...
Lineage Logistics to acquire Emergent Cold Already the largest cold storage warehouse company, Lineage Logistics is reportedly buying Emergent Cold.
UPS, Portland team up on electric-assist trike delivery The pilot project aims to replace one of two delivery trucks serving a university neighborhood in Portland, Oregon.
Commerce gives rural telecoms more time with Huawei The department's extension of the temporary general license gives U.S. companies another 90 days to continue their business activities with the Chinese telecom.
Strong snowstorm to slam Mountain West "I would say we're at right about the normal time of year when we start seeing higher snow amounts from winter storms."
Ware2Go, Fundera bundling distribution, financial services UPS flexi-warehouse unit teams with financial services marketplace to bundle physical distribution, IT and financial services to small to mid-size business
Tech investments improve Delta's cargo business, official says [FreightWaves Live coverage] CHICAGO - After transforming its under-performing passenger operation over the past decade into one of the best managed and profitable global carriers, Delta Air Lines...
A massive floating LNG stockpile has just been unloaded What was behind the historic rise and sudden fall in global LNG floating storage?
MODE Transportation bolsters third-party offering in deal with SunteckTTS Third-party transportation and logistics provider MODE Transportation has acquired SunteckTTS for an undisclosed amount. The combined entity is expected to generate $2 billion in annual...
Lawmakers propose $30M for transport worker ad campaigns 6-year program includes addressing shortage of truck drivers.
Volvo, Western Star recall trucks for steering issues Volvo Trucks North America and the Western Star brand of Daimler Trucks North America will recall nearly 3,700 trucks between them for separate steering-related issues...
Meet David Faulkenberry, FreightWaves' Final Mile Man Meet David Faulkenberry, FreightWaves final mile market expert, who joins the company's deep bench after a storied career at XPO Logistics, 3PD, HomeDirect, GeoLogistics and...
CBP adds functionality to ACE truck manifest portal U.S. Customs and Border Protection said the enhancements, to be rolled out over three phases through the rest of this year and 2020, pave the...
Freight Futures daily curve: 11/18 Volatility began creeping back into the Freight Futures markets on Friday.
MSC confirms Soren Toft will become chief executive officer Soren Toft, the former chief operating officer at Maersk will become chief executive officer at Mediterranean Shipping Co.
Today's pick-up: Nail bars in warehouses; FedEx's Smith goes to war with New York Times Do we really need nail bars in warehouses' Fedex's Smith challenges New York Times publisher to tax policy debate
CBP extends comment deadline for e-commerce data pilot U.S. Customs and Border Protection will use the industry's comments to refine its Section 321 E-Commerce Data Pilot.
Harsh wintry start to the week in the Northeast (forecast video) Ice, snow, rain coming soon to the Northeast, New England. Gale force winds, high waves along the coast.
Yakuza suspected in Kobe port cocaine container seizure Japanese mafia are in the firing line after a record 400 kilos of cocaine are found in a container in Japan.
Government lays groundwork for Air India sale Air India schedules investor meetings
Port of Brunswick open 24 hours to commercial vessels The Port of Brunswick in Georgia is now open to commercial vessel traffic 24 hours a day after salvors have stabilized a car carrier that...
Slowing ships may have little CO2 reduction benefit An unreleased study reportedly discussed at IMO's meeting this week suggests that setting ship engine power limitations would result in negligible CO2 emission reduction.
DHL opens mega parcel center The new 40,000-square-meter center is the size of five football fields and has a sorting capacity of 50,000 shipments per hour.
MSC vs Maersk: One line to rule them all With Soren Toft, Maersk COO just a week ago, poised to become MSC's new CEO, FreightWaves examines which carrier rules the waves.
Crude settles lower as confidence fades in US-China deal Oil market remains susceptible to any signs of a breakthrough or breakdown in talks ahead of the December 15 deadline.
Saudi Aramco's valuation is less than hoped for, but Vision 2030 now starts in earnest The IPO proceeds will go to the PIF, the Saudi government's vehicle for delivering the bulk of the Vision 2030 projects.
Singapore ex-wharf HSFO bunker premium dives more than 50% in H1 Nov People are generally trying to clear volumes, a Singapore bunker trader said.
Malaysia issues shipping notices on scrubbers, compliance as IMO 2020 nears SIP also recommended for ships using 0.5% sulfur compliant bunker fuels.
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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