Vattenfall officially opens Horns Rev 3 offshore wind farm Swedish state-owned energy company Vattenfall today officially opened Denmark's, Scandinavia's and Vattenfall's largest offshore wind farm, Horns Rev 3 in a ceremony attended by HRH Crown Prince Frederik of Denmark accompanied by
Hornbeck Offshore no longer in compliance with NYSE listing requirements Covington, La., headquartered Hornbeck Offshore Services, Inc. (NYSE:HOS) reports that it has received written notice from the New York Stock Exchange that the company is not in compliance with the NYSE continued
Two more methanol fueled vessels join Waterfront fleet Methanex Corporation, and Marinvest/Skagerack Invest (Marinvest) have welcomed two new innovative, clean-burning vessels, M/T Mari Couva and M/T Mari Kokako, to the fleet of Methanex subsidiary Waterfront Shipping These 49,000 dwt vessels
VIDEO: Damen wins design award for Human Machine Interface for tugs Damen Shipyards Group has won an UX Design Award for the Human Machine Interface that it has been developing over the past two years for its Next Generation Tug Series. The UX
Victory Cruise Lines now has a slip at Chicago's Navy Pier Victory Cruise Lines, a specialist in Great Lakes cruising, has a new slip at Chicago's Navy Pier. The M/V Victory I and M/V Victory II transport travelers to the treasures of the
GEA develops new, transcritical CO2 marine refrigeration technology In response to both national and international regulations and voluntary environmental protection measures, more and more environmentally-friendly refrigerants are being used in the marine business. Based on more than 100 years of
Missouri Governor hails Container-on-Vessel plan as visionary Missouri Governor Michael Parson visited the Mississippi River town of Herculaneum, August 12 to find out more about statewide efforts to deliver a new option to transport freight along the inland waterways
GoM lease sale generates $160 million in high bids Yesterday's region-wide Gulf of Mexico Lease Sale 253 generated $159,386,761 in high bids for 151 tracts covering 835,006 acres in federal waters of the Gulf of Mexico. A total of 27 companies
Fincantieri Bay to build 5,400 cu.m. LNG barge NorthStar Midstream, a portfolio company of funds managed by Oaktree Capital Management, L.P., has formed Polaris New Energy (PNE), a marine transportation company focused on the transportation and distribution of liquefied natural
Joint Industry Guidance issued on supply and use of 0.50% sulfur marine fuel As the deadline for implementation of the IMO 2020 sulfur cap nears, a number of shipping, refining, fuel supply and standards organizations, including CIMAC (International Council on Combustion Engines) have worked together
Cadmatic makes strategic acquisition Turku, Finland, based Cadmatic Ltd has acquired another Finnish software company, Kymdata Ltd. The strategic acquisition expands Cadmatic's product portfolio and includes the entire share capital as well as IPRs to all
Okeanis eyes boost to winter tanker market from sulphur cap The Oslo-listed tanker owner believes the necessary criteria are in place in the backdrop to enhance the VLCC recovery in...
Buyers of contaminated oil stuck with cargoes Cargoes were contaminated earlier this year by excessive levels of organic chloride on the 1.4m bpd Druzhba pipeline
UK port data shows manufacturers stockpiling ahead of Brexit 'These figures serve to evidence that ports are playing a vital role in facilitating the British economy's Brexit preparations' -...
More owners may opt for methanol next year Some shipowners are keen on methanol-fuelling systems but they are waiting until there is official confirmation, possibly next year, that...
Höegh LNG strikes FSRU sale and leaseback deal with Chinese lessor Vessel will commence an 18-month time charter as a LNG carrier with Cheniere in September, before a long-term charter with...
Topaz Energy reports revenue rise despite 'challenging' market In the first half of the year, earnings before interest, taxes, depreciation and amortisation rose 83% to $141m from $77m
Stena Impero owner meets Iran to urge release of tanker LATEST: Sweden has received 'very strong indications' that the Stena Impero is to be released soon, according to Swedish public...
Daily Briefing Greece rules out assisting Iranian tanker | Dry bulk edges towards rebalance | Extra Brexit funding for ports gets lukewarm...
Viewpoint: When we used to make things Logic confirms there are still too many shipyards in the world, scratching around for a living is a world where...
Iran warns Gulf security will be hit if exports totally cut off Revolutionary Guards deputy commander reiterates that security in the Gulf is the responsibility of Iran and regional countries only
Time to name and shame rogue shippers, says Drewry A limited amount of information sharing could greatly enhance safety and reduce fraud, argues Drewry, with most shippers likely to...
DSME confirms exercise of Maran LNG newbuilding option Even with this latest order however, DSME has only met 36% of its orderbook target for 2019 so far
Hong Kong court sells four more Brightoil tankers Brightoil has recouped $201.6m from the disposal of three very large crude carriers and one aframax in June, and is...
Long Beach city council orders port to provide study on impact of automation "The City Council has considered the matter and directed staff to develop a report on the issue," said the port's executive...
BW Group sells more Dorian shares The Dorian LPG sell-off by the BW Group continues. Thursday, Andreas Sohmen Pao's Singapore-based group disclosed it sold 300,100 shares of the John Hadjipateras-backed gas carrier owner for $10 each and just over $3m total. Bonus payments and a buyback as Dorian returns to the black The sales were made on Tuesday and Wednesday. BW is now down to 6.1 million shares, or 11% of all Dorian's outst
TSM goes back to Jiangnan for another dual-fuel VLGC Chinese shipowner that was first to order LPG-powered gas carrier exercises option
Samsung Heavy Industries is on track to achieve its order target Evergreen and Sinokor's newbuildings contracts made up almost 20% of the $7.8bn order target
StealthGas adds two LPG carriers to its fleet The two ships - one for its joint venture - will be among the company's largest.
Evergreen Marine selects yards for 11 ultra-large boxship order Existing relationships helped South Korea's Samsung Heavy Industries and Japan's Imabari Shipbuilding snare business for a series of 23,000-teu ultra-large newbuilds
Citi shakes up shipping as Parker becomes global chairman US bank Citi has strengthened its management as part of a "planned transition."
Grieg Star sends another bulker for 'green' recycling Grieg Star has sold a handymax bulk carrier for "green" recycling, while its sister company GriegMaas has taken delivery of a new vessel. Grieg Star recycles first ship under new EU regulations The 40,900-dwt geared Star Fuji (built 1985) was delivered on Wednesday to the EU-approved Leyal Ship Recycling yard in Aliaga, Turkey. Grieg Star estimates that during its 34-year lifespan, the South Ko
CNC takes over APL short-sea services CMA CGM container lines join forces in Asia.
Hornbeck warned by New York Stock Exchange over share price Hornbeck Offshore has run afoul of the New York Stock Exchange's minimum trading price rules. The Louisiana-based offshore vessel owner disclosed on Thursday that the exchange notified it that its average closing price over the last month has fallen below $1. It has six months to fix the deficiency or face delisting. Hornbeck heads to negotiating table as liquidity crunch looms Hornbeck stays r
Avin nears exit of bulker market with sale of panamax Greek shipowner Avin International could be set to completely exit the bulker market, with reports that the company has sold one of its two panamaxes. US brokers said the company's the 76,000-dwt Vamos (built 2004) has gone to an undisclosed buyer for $9.5m. The price for the the Tsuneishi Shipbuilding-constructed vessel is more or less in line with the $10.2m that JL Mowinckels Rederi of Berg
VLGC fundamentals align for Avance's Andersen Norwegian owner's new boss says US exports are key engine of future rate growth.
Olav Meling tells of confidence in future after bank deal OH Meling has reached a deal with lender SpareBank 1 SR-Bank allowing it to navigate poor markets for its tankers and offshore vessels. Chief executive Olav Meling 'expressed confidence in the privately owned company's future, thanks to the arrangement. OH Meling confident of weathering debt storm "This is a solution that both the bank and we can live with," he said, without providing details o
DryShips' pending exit from listing draws few tears in New York George Economou's company helped launch an entire sector of listed bulker owners and had its moments - but it is seen as destructive to shipping's reputation among public investors
Ineos fires up project for VLEC newbuilding pair Shipowners work on quotes for 90,000-cbm vessels on behalf of chemical giant
Klaveness talks up role of interns Norwegian owner's recruits reveal broad training experience
Irish Ferries eyes China for next ropax amid delays in Germany Delays at Flensburger Schiffbau-Gesellschaft could drive business to China at an uncertain time for the country's ropax builders
Centrofin poised to exit VLCC segment with sale of duo Diversified Greek shipowner Centro'fin appears to be exiting the VLCC segment. An undisclosed buyer has reportedly committed to purchase the company's DSME-built, 299,000-dwt sisterships Kalymnos and Cerigo (both built 2000). US brokers said they are destined for a conversion project. Formosa Plastics Marine sells MR tankers in fleet renewal drive The tankers have reportedly fetched a firm $25m
Commerzbank provisions rose as it quit shipping German lender's second quarter risk result hit $197m.
Bonheur completes upsized $89m bond issue Bonheur, the investment holding company for Fred Olsen & Co, has issued NOK 800m ($89.2m) in new senior unsecured bonds. Fred. Olsen Renewables refinances $526m in debt The placement was oversubscribed and raised NOK 100m more than had been mooted by the company as markets opened in Oslo this morning, according to exchange filings. The new bond is NOK-denominated, has a floating rate and is due
Hoegh aims to fix all its FSRUs long-term in next 12-18 months President and chief executive Sveinung Stohle details four projects that will absorb all but one of company's FSRUs
Contchart boss John Freydag holds out hope for small boxships rise Provider of smaller vessels aims to reap the benefits of a larger boxship market
Croatia could pump $22.5m into 3 Maj Government says cash for shipyard could hinge on creditors' forbearance.
Rever Offshore 'prosperous' in first half UK subsea player says it is on track for successful 2019.
Cefor signals return of high-cost losses for Nordic insurers First half sees end of benign claims environment with upturn in expensive incidents
Rate surge propels Avance Gas to profit Norwegian VLGC owner boosted by increased US exports in second quarter.
ITLOS decisions are final and binding, but cases can often take years to resolve However, there is a 30-day deadline for delivering judgments covering prompt release of vessels and crew
Flag state can pursue ITLOS claim on behalf of itself, owners and crew The courtroom in Hamburg can be a busy place, with delegations sometimes numbering 30 to 40 people. Among the applicants or respondents are ministers - foreign affairs, justice, transport or fisheries - legal advisors, 'ambassadors and academics from distinguished universities, such as Oxford, Cambridge and the Sorbonne, as well as leading law firms. Iran strikes in Strait of Hormuz as Middle Ea
Hamburg hosts global court for settlement of maritime disputes Tribunal has jurisdiction over wide range of legal issues, including freedom of navigation and prompt release of vessels
Iran widens threat to other shipping lanes President Hassan Rouhani says international waterways cannot be secure if US halts country's oil exports.
Hoegh LNG completes first FSRU sale and leaseback with CCBL Oslo-listed LNG regasification company has also opened a representative office in Shanghai
Scrubber fitting costs rise for ADS Crude Carriers Norwegian VLCC owner also announces second consecutive quarterly profit.
Huge price premium prompts Seroja to offload shipping interests Investors set to make close to 300% return on assets being offloaded by Singapore-listed firm
Angelicoussis returns to DSME for another LNG carrier newbuild Greek owner responsible for six of the seven gas carriers ordered at Korean yard this year
Topaz rides offshore recovery to post first half profit Dubai-based offshore vessel operator back in the black as it prepares for new ownership
Trada scraps LR1 as it gets out of large tanker sector Veteran vessel Pelita Bangsa is heading for recycling in Bangladesh
TIL Logistics reports big full year revenues but small profits Trucking, freight and international forwarding business TIL Logistics (NZX: TLL) of New Zealand has reported solid revenues of NZ$355.1 million (US$226.94) and a small net...
UPS details drone plans in federal exemption request Company claims faster medical deliveries means faster patient treatment.
Spectre of Amazon and peak season looms over stalled talks between Atlas, ATSG and Teamsters ATSG and Atlas Air continue to fight a contract battle with their pilots union as Amazon, which uses both airlines, watches closely with peak season...
Sleepy hurricane season could soon wake up "We are thinking this [hurricane] season will be back-loaded."
Trucking groups urge lawmakers to reject crash score proposal TIA, ATA and OOIDA call provision to make CSA scores public "dangerous"
Doordash acquires Scotty Labs, pushes towards automated deliveries With the recent complaints about workers' rights, it makes sense that Doordash, like every other on-demand mobility company, is thinking about efficiency and the cost...
The Amazon rainforest is on fire and burning out of control For 16 days the Amazon rainforest has burned at record breaking rates.
Today's Pickup: No-deal Brexit might unleash an explosive growth in grey market goods No-deal Brexit might funnel goods into the grey market; China is an irreplaceable manufacturing hub; electric vehicle segment is growing at a furious pace.
Storms, flood potential from Rockies to East Coast (forecast video) In it for the long haul SONAR Critical Events: Flash Flood Watch areas for August 22, 2019 as of 10:00 a.m. EDT. Today, August 22,...
Tightened credit standards: a worrying sign for the trucking industry? The freight industry is being battered by falling volumes and loosening capacity, with tightening credit standards further exacerbating the situation.
New York Terminal Conference raising rates Five container terminals in the Port of New York and New Jersey have increased rates in an update to their FMC agreement.
Porsche invests in startup that develops low-visibility sensors for vehicle automation Israeli startup TriEye has received investment from German carmaker Porsche as part of its $19 million Series A round of financing.
Qantas' nonstop New York and London to Sydney may provide cargo opportunity Qantas announces a test program to fly nonstop from New York and London to Sydney. This long-haul flight may also present cargo opportunities.
Sales surging but the retail apocalypse continues Using data from FreightWaves SONAR, economist Ibrahiim Bayaan writes about the state of the U.S. retail market and what is ahead for this key sector.
Freight tonnage will grow 25.6 percent by 2030, ATA projects Freight tonnage will grow 25.6 percent by the end of the next decade, the American Trucking Associations (ATA) predicts in its annual ATA Freight Transportation...
Descartes acquires cloud transportation management system provider BestTransport Canadian logistics software company purchases U.S. firm whose TMS suite specializes in flatbed moves in North America and the EU.
Making the right business decision for your supply chain One of the more popular ways to improve efficiencies and reduce costs is through outsourcing some or all of the supply chain operations to a...
Truckers and customs brokers are seeing "red" as border wait times increase Truck wait times at ports of entry along the United States-Mexico border are up, from El Paso, Texas, to Otay Mesa, California. Industry professionals said...
Transfix launches carrier payments factoring at 0.99 percent cost Digital freight brokers continue to add services in the pursuit of carrier stickiness.
'NASCAR roadies:' Truck drivers keep the sport moving The race cars, and all the equipment and accessories that go along with them, have to move from racetrack to racetrack somehow.
RPA Labs wants to automate your daily tasks "Robotic process automation has already taken root in other industries like financial services. It's a perfect time for RPA to disrupt the logistics industry, given...
Port Report: U.S. retail inventories high as container rates retreat Sanguine outlook could flip, but retailers look well stocked ahead of peak season.
Qube earns US$1.15 billion in revenues... but foresees subdued markets next year Integrated bulk, rail, trucking, box, warehousing and ports operator, Qube (ASX: QUB), has announced weighty full year earnings of A$1.73 billion (US$1.5 billion). It also...
VLSFO SUPPLY ROUNDUP: Repsol confirms availability of VLSFO at Algeciras Japanese refiner Cosmo Oil will slash its output of high sulfur fuel oil and boost middle distillate production once it completes the coker capacity expansion at its Sakai refinery during the second week of October.
Cosmo Oil to cut HSFO output, up middle distillates production as Sakai coker expands Japanese refiner Cosmo Oil will slash its output of high sulfur fuel oil and boost middle distillate production once it completes the coker capacity expansion at its Sakai refinery during the second week of October.
Hong Kong bunker market to remain tight as suppliers pull back High sulfur bunker fuel availability in Hong Kong is expected to tighten further as suppliers reduce import in anticipation of a drop in demand ahead of IMO 2020, and maintain low inventories because of a steeply backwardated market structure.
Oil slides as weak US manufacturing PMI spurs demand growth concerns Oil futures settled lower Thursday as demand concerns took center stage amid weaker US economic data.
IMO 2020 Tracker: Trade tariffs seen muting IMO 2020 impact for US refiners Weakening export demand for US-made products is skewing the impact of the change to cleaner ship fuel.
DUBAI FUTURES: Sour crude complex firms despite dip in product margins The dive in fuel oil margins may be due to the onset of lower sulfur marine fuel requirements set to take effect from January 2020.
External: Global Risk Management
Stena Bulk CEO 'constructive dialogue' with Iran foreign minister CEO Erik Hanell met Iranian foreign minister Mohammad Javad Zarif in Stockholm on Tuesday.
Iran renews threat to shipping amid US pressure to 'zero out' oil exports "The Iranians will be hoping to cloak a ship-to-ship transfer, but it is not going to easy with so many eyes on it," a source said.
Shell seeks competitive ways to decarbonize shipping Shell plans to fuel the tankers at existing facilities in Singapore, Rotterdam and other bunkering ports.
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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