Brunvoll to deliver propulsion systems for zero emissions, zero crew Yara Birkeland Molde, Norway, based Brunvoll AS has signed a contract with the Kongsberg Group covering delivery of propulsion systems for Yara Birkeland, the world's first fully electric and autonomous containership. Brunvoll's delivery includes
Navy exercises option with VT Halter Marine for third berthing barge VT Halter Marine Inc., Pascagoula, Miss., has been awarded a $39,808,087 modification to a previously awarded contract to exercise an option for the detail design and construction of an Auxiliary Personnel Lighter
Herbert-ABS releases offshore stability evaluation solution Herbert-ABS Software Solutions LLC has announced the launch of its HECSTAB offshore stability evaluation Software which allows naval architects to easily evaluate multiple design options for non-ship shaped offshore assets. "HECSTAB is
Netherlands heavy hitters take a serious look at methanol as a marine fuel A consortium of leading Netherlands maritime companies and the Royal Netherland Navy have joined forces to investigate the feasibility of methanol as a sustainable alternative transport fuel in the maritime sector. Major
Private equity makes more acquisitions in the tug and barge sector Private equity investors have been on the acquisition trail in the tug and barge sector, with both Vancouver, Wash. headquartered Tidewater Transportation & Terminals and Muskegon, Mich. based Andrie, Inc. finding new
Fleet Xpress keeps latest Lindblad expedition ship connected Lindblad Expeditions has opted for Inmarsat's Fleet Xpress to provide connectivity for its new U.S.-flagged expedition ship, National Geographic Venture. The expedition ship, designed to explore the coastal waters, shallow coves and
Alaska Tanker Company opts for Ecochlor BWMS Alaska Tanker Company (ATC) is to retrofit the Ecochlor ballast water management system (BWMS) on board three of its VLCCs with an option for a fourth vessel. The installations will start in
U.S. based ship operator to fit CROE scrubbers in 35 ships Parsippany, N.J. based CR Ocean Engineering, LLC, reports that it has been awarded a contract for exhaust gas scrubbers by a major U.S. based shipping company that will take the total number
Contships buys seven more feeders for about $44m Latest acquisitions include five from Hartmann group and two from ICL Holdings
Teekay expects higher US crude exports to boost tanker demand Teekay expects US crude exports to rise to 4m bpd in the second half of the year from the current...
UK Club gains 5.4m gt in 2019 renewal round The three P&I clubs that have declared renewal round outcomes so far - UK, Gard and North - all say said their...
Japan's first LNG-fuelled tug completes maiden bunkering operation The truck-to-ship LNG bunkering operation for MOL's newbuild tug boat, Ishin, took place in Sakai Senboku Port - it marks the...
Maersk outlook points to volatile year ahead Trade tensions, slowing growth and rising fuel costs all threaten to derail container shipping's recovery in 2019
Freight bodies welcome post-Brexit security waiver The measure is designed to give businesses more time to prepare for changes to EU-UK trade arrangements in the event...
Viewpoint: Hunting Stellar Daisy The use of specialist underwater equipment to locate Stellar Daisy has provided an object lesson to the shipping industry that...
HMM president CK Yoo to resign He admitted it was not easy to leave at this 'critical moment' but noted that the company had become much...
Daily Briefing Calls for scrubber research as lobby lays into EU | Mixed fortunes for P&I Brexit strategy | UAE lifts ban...
Maersk revenues rise despite slow demand growth Volume increase from Hamburg Süd acquisition boosts Maersk figures as rising rates are offset by increasing bunker costs
MOL set to seal LNG bunker vessel charter deal with Singapore's Pavilion Energy The vessel will also be the biggest of its type to be used for LNG bunkering in Singapore port waters
Samsung Heavy clinches $775m LNG newbuild quartet Orders will help SHI to meet its 2019 order target set at $7.8bn as it expects strong demand for new...
Indonesia signs long-term LNG deal to take Mozambique gas With the latest Pertamina deal, the joint venture has secured over 9.5m tonnes per annum of offtake
DNV GL's sustainability chief joins climate network to drive low-emission transition He is stepping away from DNV GL to take up leadership of the Norwegian national climate network, an initiative led...
Ports sector failing to take cyber security seriously As dangers increase, experts warn it will take a major incident before the ports sector takes steps to protect itself
Kemp projects spread between high, low sulphur fuels There is going to be a significant difference in the prices of low and high sulphur fuel oil once the IMO's emissions cap kicks in next year, Charles Kemp of Baker & O'Brien said Thursday. Speaking at TradeWinds' IMO 2020 Disruption Forum in New York Thursday morning, Kemp said there was effectively no price floor for the high sulphur fuel and that refineries are only now upgrading to produce the
Analysts: Investors not yet factoring in scrubbers The IMO's impending emissions regulations are the talk of the shipping industry. But Wall Street? Not so much. Neither Deutche Bank's Amit Mehrotra nor Wells Fargo's Mike Webber believe investors are taking scrubbers into account when valuing shipping stocks. "I do think in some point scrubbers will play a role in equity valuations, but it's probably wishful thinking for that to be the case now
IMO 2020 presents 'unknowns' Compliance to the sulphur-limit rule will cause "conflicts with transition", says Andrew Smiley of Koch Supply & Trading
Chalos: IMO 2020 enforcement will be a 'disaster' Shipping lawyer George Chalos has highlighted what he expects to be heavy-hande US enforcement of the IMO's looming emissions regulations. Speaking at TradeWinds' IMO 2020 Disruption Forum Thursday afternoon in New York, the maritime attorney told the assembled that the US Coast Guard uses "a hammer where a flyswatter will do". He said the agency has already collected half a billion dollars in f
Shipowners call IMO 2020 switch-over challenge 'solvable' Compliance to the regulation is 'a positive thing for the industry and planet Earth', says Fednav chief executive Paul Pathy.
Diana capesize finds new work with Koch Shipping Diana Shipping is set for sharply reduced revenue from one of its capesize vessels, brokers say. The 177,000-dwt Houston (built 2009) has reported been fixed by Koch Shipping for 14 to 17 months at $10,500 per day. The ship is coming off a one year charter to Clearlake Shipping at $19,000 per day. Diana could not be reached for immediate comment.
Germany learns harsh lesson in life: You reap what you sow Ownership of vessels is still flowing out of the country as the financial fallout continues from over-ordering ahead of an inevitable economic correction
China Minsheng Trust makes strategic stride into offshore Beijing-based trust has gone from secondhand bulker acquisitions to corporate asset plays alongside China Merchants Group
Capital Gas inches up LNG order tally at Hyundai Heavy Low newbuilding price for options and allure of market prospects could entice others, with slots to follow suit
Insurers battle it out in Brillante Virtuoso $77m 'scuttling' trial Eyes of marine insurance world on UK high court as war risk underwriters attempt to prove owner deliberately caused the loss of suezmax tanker
JLT snatches sought-after NYK Line P&I account from Aon Insurance broker JLT has won one of the biggest protection and indemnity accounts in shipping after it snatched the business of Japan's NYK Line from rival Aon. Blue-chip NYK's diversified fleet of 720 owned and chartered vessels ranks it among the top-five shipping companies in the world and makes it one of the most sought-after accounts in the P&I broking business. JLT launches fresh P&I push
Chinese buyer snaps up ageing bulker from Ocean Freighters Greek bulker owner Ocean Freighters is said to have sold a 17-year-old panamax bulker to a Chinese buyer. Brokers say the 74,000-dwt Pontonikis (built 2002) has been sold for about $7m, in contrast to estimates of $7.3m to $9m by VesselsValue and Maritime Strategies International. Ocean Freighters paid compatriot Maran Dry Management $56.5m for the DSME-built ship, then named Anangel Gallini, i
Contships moves in on two deals for seven feederships Nikolas D Pateras-led company seeks to grow feeder fleet
The new power behind Poten & Partners BGC Partners achieved a long-term goal to enter shipping when it acquired Poten & Partners. Top executives at both companies tell TW+ about the drivers of the deal and what the future holds for the venerable brokerage
Carnival says its scrubber washwater is clean Study finds scrubber discharge complies with land waste water discharge limits
StealthGas hatches new growth venture alongside mystery investor Platform will provide capital for expansion at a time the equity markets are not attractive, shipowner says.
Hellenic Bank secures warrant in case over allegations of loan default Hellenic Bank has secured an order to arrest an Interorient Shipmanagement-controlled bulker over allegations of a loan gone bad. A warrant to arrest the 33,755-dwt Orient Alliance (built 2012) was issued in Eastern District of Texas federal court Tuesday. It comes after the Cypriot bank sued the ship's eponymous registered owner, alleging it failed to live up to the terms of a $20.5m refinanci
Adnoc shipping arm unveils 25-ship expansion project Adnoc Logistics & Services (Adnoc L&S) has laid out its expansion plan for group shipping needs, saying over 25 vessels will be added to its fleet during the next five years. The shipping arm of Abu Dhabi National Oil Company (Adnoc) said the ships will include crude carriers, gas tankers and bulkers to enable more of its parent's energy and commodities sales on a delivery basis. Those ships wil
Is Germany's 'bad bank' the solution to warehousing troubled debt? A 'bad bank' set up to wind down a loan portfolio linked to more than 250 vessels is making headway
Banks provide biggest worry for German shipowners Shipowners' representative blames banks' own regulatory burdens and strategic decisions for further shrinking fleet numbers
Supply chain key to cruiseship deals, says VSM boss Luken Asked why Germany has been so successful in securing cruiseship contracts, German Shipbuilding and Ocean Industries Association (VSM) chief executive Reinhard Luken pinpoints "specialisation and communication flow". "If you do this business over several decades, you build up a network, a very complex supply chain, where you know your players and where you have trusted relationships," he says. Bu
German yards in shipbuilding sweet spot as boom in cruise orders continues Backbone of German shipbuilding keeps orderbook close to record €20bn
KG financing not to blame for oversupply, says Kortum Model has been given a bad rap, according to KG pioneer who lost his shipping empire
Affinity's Fagerberg jumps to expanding start-up Avenir LNG Small-scale shipbroker specialist Mats Fagerberg is joining newly formed Avenir LNG as the company starts to grow its team. Fagerberg, who was previously a managing partner at shipbroking company Affinity (Shipping), joined Avenir this week as commercial director. Avenir LNG gears up for next phase of fundraising Taking on what is a new role for Avenir, Fagerberg acknowledged that he will now b
Craig Stevenson head hunts CFO to lead all-new Diamond S Owner has been seeking new finance chief since Capital Product merger, with well-known names in play
Euronav buys fuel oil cargoes for 2020 ULCC storage play Listed tanker giant starts to make use of its two ULCCs as it bets on price and quality of fuels from 1 January
Scrubbers: The good, the bad and the sludgy What went right, what went wrong and what lessons have been learnt by the ship operators who fitted scrubbers early on?
Soren Skou sets out list of concerns clouding AP Moller-Maersk's outlook Trade war, IMO 2020, slowing global growth and Brexit among considerable uncertainties seen by Danish shipping giant.
Coral Shipping picks up Japanese product tanker Coral Shipping has purchased its sixth tanker since July 2017. The Athens-based company has emerged as the buyer of the 47,400-dwt MR2 vessel Morning Haruka (built 2005). Brokers reported the $10.5m deal in December, when some identified Greek peer Econav as the buyer, despite its denial. Coral managers did not confirm the purchase by TradeWinds' press time, but online shipping directories sho
Latvian Shipping said to be withdrawing from small MR sector Latvian Shipping, a subsidiary of trading giant Vitol, is said to be selling the remaining two 37,000-dwt product tankers in its owned fleet. The Riga-based company has tentatively agreed to sell the Kandava and Krisjanis Valdemars - ice-class vessels delivered from Hyundai Mipo Dockyard in 2007 - to European interests at $11.8m each, several brokers report. There have been rumours that Atlantic
Fleet investments cut Fjord 1 profit The Oslo-listed ferry company is on a mission to electrify all its vessels
Teekay Tankers sits on dividend and inks additional leaseback deal Teekay Tankers has moved to boost its balance sheet by holding back dividends and raising its tally of sale-and-leaseback deals. Teekay LNG boosts fleet and earnings with 15 newbuildings BlackRock bumps up tanker positions with fourth quarter flutter Frontline shares fire after DNB upgrades tanker peer group New York-listed Teekay Tankers has a policy of paying between 30% and 50% of net incom
Teekay LNG boosts fleet and earnings with 15 newbuildings President and chief executive Mark Kremin says incoming fleet will raise income "significantly" in 2019
TGS picks up Brazil survey contract ahead of licencing auction Company secures its third Brazilian project in 12 months, just before the 16th licencing round commences.
Expanding M&M Bank seeks to raise more equity Maritime & Merchant Bank plans to raise up to $30m in equity in a new share issue after sharp growth in 2018. Chief executive Halvor Sveen told TradeWinds the company does not have a concrete time schedule for the effort. Reederei Nord executives join M&M Bank shareholder rolls "We are still a very young company," he said. "So our prime focus is to build the platform stronger and better which i
Diligent Holdings snaps up third vessel in five months Greek owner linked to purchase of 2008-built Japanese supramax bulker
Maran Tankers' firmed option kick-starts Daehan's year Suezmax newbuilding represents first contract for Daehan Shipbuilding this year
Eurobulk expands fleet with $9.5m purchase of panamax Eurobulk has bought a 13-year-old panamax from Nissen Kaiun of Japan, US and European brokers say. The Greek shipowner is said to have purchased the Imabari Shipbuilding-constructed, 76,000-dwt Osmarine (built 2006) for $9.5m. Eurobulk did not respond to requests for comment. The market has an appetite for panamaxes of this age, and a number of deals have been concluded in recent weeks. For ex
Shipowner fleets stay put in 'difficult' P&I renewal Scandinavian clubs see gains in otherwise quiet renewal season bar battle for SK Shipping business
AP Moller-Maersk shares slump on 2019 outlook 'shock' World's largest shipowner sees stock tumble amid concerns over its view for this year.
Maersk Drilling sets date for listing as AP Moller extends $12bn energy divestment AP Moller Holding will take stake of more than 40% with a one-year lock-in period.
Tufton Oceanic Assets targets $75m from latest capital raise Move comes after last tranche of capital was fully invested to take fleet to 12 ships.
GTT boss on his move from outer space to inner spaces Philippe Berterottiere admits he had a bumpy start at GTT, but the LNG cargo system designer is riding high now. Its share price is soaring, it has a bulging orderbook, and a whole new business area is opening up
Barclays: "Toes back in the water" for offshore investors Sector headed for "multi-year growth trajectory", but bank warns there is "still plenty to worry about".
Samsung Heavy bags deal for four LNG newbuildings Appetite for gas carriers shows no sign of slowing as order rush seen last year continues into 2019.
PaxOcean sells second jack-up newbuilding to Noble Robert Kuok-backed yard group providing two thirds of financing in repeat deal with US firm.
Bremerhaven yard scores from Genting Hong Kong cruiseship conversions Takeover by Asian cruise player generates plenty of work for long-established passengership specialist
Japan to propose limits on ship power to cut emissions Government officials to press the IMO to develop ideas around ships operating at 42% and cutting speed to achieve a 30% improvement in efficiency
Yuzuru Goto leaves Japan's K Line after 17 years A well-known face in the LNG industry is leaving Japanese shipowner K Line after 17 years. Yuzuru Goto has handed over the reins of K Line LNG Shipping (UK) to Hiromichi Kato, the new managing director of the London-based arm of the business. A London lad at heart Owner shows its KARE-ing side Goto will continue to work with two companies with which he has previously cooperated closely: Greek
Maersk calls 2019 a year of 'considerable uncertainties' The company says freight rates are higher as it begins contract negotiations with North American shippers.
HMM CEO tells employees he's resigning C.K. Yoo is credited with helping HMM navigate a difficult period and last April was offered a three-year contract extension.
Port of Long Beach looks to deepen, widen channels With deeper channels, longer and wider ships will be able to move to and from berths without having to wait for high tides.
Up to two months to discharge Yantian Express cargo
Rally slows as crude market caught between record US production, exports Crude futures settled largely flat Thursday after the US Energy Information Administration said US crude stocks rose 3.5 million barrels to 454.51 million barrels last week.
Shipowners with scrubbers should not hedge 2020 HSFO price risk: Goldman Sachs Shipowners with scrubber-equipped vessels continuing to use fuel oil next year after the IMO's marine sulfur limit drops are best advised to avoid hedging their fuel requirements at first to maximize savings, according to investment bank Goldman Sachs.
Shipping giant Maersk sees best fuel efficiency in six years Denmark's AP Moller-Maersk, the largest consumer of marine fuel in the world, has reduced its bunker consumption per container carried to the lowest level in at least six years.
External: Marine Bunkering(Rotterdam)B.V.
External: Global Risk Management
S Korea's S-Oil to supply $2.3 billion of oil products to Saudi Aramco this year The refiner said it will supply the products at international market prices.
CSA 2020 "disappointed" with European Commission criticism of scrubbers The EC proposal is based mostly on speculation, Adams said.
Dubai's ENOC partners with India's IOC to expand in marine sector The companies will jointly develop cylinder oil compliant with the IMO's global sulfur cap for marine fuels, ENOC said.
Colombia's Ecopetrol to export heavy sour Mares Blend crude to Asia this week: program The tanker is believed to have Asia as its destination.
Bosporus Strait shut due to heavy fog: sources The Bosporus Strait was closed for 12 hours, although operations were back up and running with delays as of Wednesday morning.
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