Gasum completes its 100th ship-to-ship LNG bunkering In another demonstration that LNG bunkering is now becoming routine in many areas, Espoo, Finland headquartered Gasum reports that the 5,800 cu.m bunkering vessel Coralius, carried out its 100th LNG bunkering on
VIDEO: Uzmar deliver's B.C.'s first IMO Tier III compliant escort tug SAAM SMIT Towage Canada has taken delivery of what will be the first IMO Tier III emissions-compliant escort tug to operate in British Columbia. Named Tsimshian Warrior, the tug was handed over
LNG-fueled shuttle tankers will have Hydroniq engine cooling systems Ellingsøy, Norway, based Hydroniq Coolers has won contracts from South Korean shipbuilder Samsung Heavy Industries Co. Ltd. to deliver the cooling systems for the engines of six LNG-fueled shuttle tankers the shipbuilder
Largest fishing vessel yet from Nodosa features Schottel propulsion system The largest fishing vessel ever built by the Nodosa Shipyard in Spain, the 74 m x 14 m Argos Cíes, is equipped with Schottel propulsion systems to achieve optimal maneuverability and propulsion
World Fuel Services adds to Gibraltar bunkering capacity Miami, Fla., headquartered World Fuel Services has extended the capacity it offers in the Port of Gibraltar via fully-owned subsidiary Gib Oil Limited, with the addition of two barges to its physical
Fisheries patrol cat is built for year round Irish Sea operations Built by Mainstay Marine Solutions, Pembroke Docks, South Wales, the 19 m Catamaran Fisheries Patrol Vessel Lady Megan has been designed and built to a demanding specification for operation year round in
Industry leaders warn on no-deal Brexit as clock ticks down 'We anticipate severe problems for our service providers who need access to the single market, numerous bureaucratic challenges such as...
Open-loop scrubbers raise concerns in Europe The EU regulator warned that the technology could be extremely problematic for confined water spaces like ports
Hong Kong offers 50% tax concession for marine insurers Hong Kong wants to ride new developments in intra-Asia trade and leverage its strengths as a supply chain management and...
CEVA expects action plan to boost revenue Lower full-year 2018 earnings blamed on one-off factors, but significant improvements in ocean and airfreight are evidence of a turnaround
Nam Cheong OSV chartering revenue jumps Singapore-listed company sees a profit for the last quarter of 2018, largely as a result of a waiver granted by...
Braemar appoints Kunzer and Stone to board The company is also planning to appoint a new non-executive chairman and a further announcement will be made in due...
Scrubberless tankers may face accelerated fleet exit The adoption of scrubbers will lead to higher demand for high-sulphur fuel oil, which may lead to a narrower spread...
Higher fuel costs push RCL Group to a loss The company posted total expenses of Baht12.7bn ($405m), a 13% increase on the year before
J. Lauritzen expects to stay in loss The Danish company, which focuses on smaller bulkers and gas carriers, narrowed its loss in 2018 to $24m from $45m...
APL seeks to solve west coast capacity crunch Dedicated chassis, faster truck turnarounds and expedited rail service seeks to break the congestion knot at west coast terminals
Running on empty: US box imbalance deepens The box imbalance was most pronounced in the second half of the year as imports surged on the back of...
Chinese shale gas still faces many uncertainties, says CNPC official CNPC has made a breakthrough in mining shale gas in China, yet a boom still has a long way to...
Maersk Tankers to gain competitive advantage through digital solutions A year's intensive work by the product tanker company has led to the development of two digital solutions that are...
K+N sounds a warning note despite growth Trade tensions and weaker economic indicators lead to cautious 2019 outlook for world's largest logistics provider
Daily Briefing US Gulf-Asia VLCCs drive global tanker patterns | US investigation clears Box Club lines of wrongdoing | IMO makes progress...
Dry bulk owners remain calm over the effect of Chinese 'ban' on Australian coal imports Limited impact expected on capesize market from reported import restrictions
Exmar to move VLGC orders booked at Hanjin Heavy's Subic Belgian shipowner is in talks with shipbuilders about shifting two pioneering VLGC newbuildings that are now cancelled at cash-strapped Hanjin Heavy Industries & Construction Philippines in Subic Bay. Exmar's VLGC pair hang in the balance at Hanjin Subic yard Exmar chief executive and managing director Nicolas Saverys said the company will be ordering the two 80,200-cbm ships elsewhere, saying t
Kumiai Senpaku toasts completion of refrigerated LPG newbuilding The 38,000-cbm Hourai Maru has been outfitted with intelligent cloud-based infrastructure and becomes the first to obtain a scrubber-ready notation
Gard strengthens team in key P&I battleground of Japan Norway's Gard is the latest protection and indemnity mutual to beef up its presence in Japan in the hope of winning more business from local owners. Tadashi Sugimoto, managing director at Gard Japan, said he has ambitions to grow and diversify Gard's Japanese business streams through key appointments. "These changes will focus our efforts to further develop and build our long-term partnerships w
Hadjiyiannis buys third NYK boxship amid MSC charter talk Greek-Cypriot owner Andreas Hadjiyiannis is said to be buying the third in a series of post-panamax boxships from NYK Line. His company, Cyprus Sea Lines (CSL), has been linked to the acquisition of the 6,492-teu NYK Apollo (built 2002). Market sources told TradeWinds that the vessel changed hands for $500,000 below its scrap value, which suggests a sale price of as low as $12m. However, other
Norwegian Cruise Line sued over alleged unpaid bills A Florida company is taking Norwegian Cruise Line to court, alleging the cruise giant never paid for nearly half a million dollars worth of crabmeat. Capital Sales and Marketing filed a $1.2m suit in Miami federal court Monday, alleging Norwegian stiffed them on three rounds of purchases last July, including $482,000 worth of lump crabmeat that Capital bought but Norwegian refused to accept. The
Eni's shipping head leaves for piped gas job After the Italian major exited LNG tanker ownership, Franco Magnani takes on another senior role at Eni to oversee piped gas supply to European business clients.
Hoegh LNG Partners anticipates dropdowns LNG production expected to boom by 2030
Diana Shipping offers another buyback Simeon Palios-led bulker specialist looks to take back 5.2 million more common shares.
'Lost' shipping industry curbs LNG bunkering development, says BP Shipowners have many fuel options to meet future IMO regulatory requirements other than LNG.
Pacific Carriers sells cash cow bulker as prices slip Pacific Carriers of Malaysia continues to trim its fleet of elderly bulkers. It has now disposed of a 15 year old panamax at a price reflecting the current pressure on values. Sources say the Sanoyas built 75,000-dwt Ikan Bilis (built 2004) has sold to an undisclosed buyer for $7.7m. Clarksons slashes benchmark dry bulk forecasts This is below the firm $9m VesselsValue says Ikan Bilis is wo
Seacor Holdings returns to loss amid one-off charges Two of the diversified owner's three segments saw improved revenue for the fourth quarter.
Eidesvik details two-tier PSV market Norway's Eidesvik Offshore has cut its loss for the fourth quarter as it revealed a divergence between spot and term markets. Eidesvik: no subsea recovery until 2020 The company's pre-tax deficit was NOK 88.3m ($10.35m) to 31 December, compared to NOK 221.1m in the same period of 2017. Revenue rose to NOK 145m from NOK 133m. The shipowner said the North Sea platform supply vessel (PSV) spot se
Subsea 7 extends charter of Solstad CSV Subsea 7 has extended its charter of a Solstad Offshore vessel, following the news of a big contract win from BP. The charter of the 6,300-dwt construction support vessel Normand Subsea (built 2009) has been extended by a further four years, plus two 12-month extension options. "This is another evidence that the subsea maintenance activity is gradually starting to pick up again," Lars Peder Sols
Tor Olav Troim's Golar reveals 'significant progress' on LNG carrier spin-off Tor Olav Troim's plan to spin-off Golar LNG's spot-trading ships into a new venture is pressing ahead at the same time as an existing related company is proving problematic. Golar strikes 20-year FLNG lease with BP Frustration at speed of LNG-fuelling uptake boils over Avenir LNG gears up for next phase of fundraising Golar today said significant progress has been made in establishing a new sh
A lot of bottle: Dutch seize "Kim's vodka cargo" Dutch authorities have seized 90,000 vodka bottles believed to have been destined for Kim Jong-un's North Korean regime. They were acting on a tip off from Hamburg that led them to board a Chinese vessel in Rotterdam, the BBC reported. UN sanctions forbid the import of luxury items like the Russian booze. The unnamed's vessel destination was listed as China, but the Dutch foreign ministry said
James Fisher warns of Brexit risk to EMSA contract UK shipping group James Fisher has warned of the risk to its contract with the European Maritime Safety Agency (EMSA) from a no-deal Brexit. The company currently has a deal in place to provide emergency pollution response for the agency should an accident occur in the UK, Ireland or north-western Europe. Fisher reveals Borealis tanker buy with more to come The shipowner said it had assessed th
S&P chief Skarsgard quits Fearnleys for top job at bulker owner Belships Fearnleys sale and purchase boss Lars Christian Skarsgard is taking over as chief executive of bulker owner Belships. Skarsgard will join the Oslo-listed shipowner from the leading shipbroker on 15 March, it was announced today. "I'm thrilled about the opportunity to join Belships. Exciting times lay ahead for the company, and I look forward to getting started," he told TradeWinds today. H
Odfjell and Celsius Shipping seek exit from LPG joint-venture with twin sale An LPG joint-venture between Odjfell and Celsius Shipping is looking to sell its two ships. Kristian Morch, chief executive of Oslo-listed Odfjell, confirms the 9,000-cbm Bow Guardian and Bow Gallant (both built 2008) are on the market. Brokers believe the duo may fetch between $14m to $15m each, with Morch suggesting a deal will be signed in the first half of the year. Odfjell bought the ships
Vitol and KOMIPO team up to explore LNG projects Trader Vitol has announced it will work with Korea Midland Power Co (KOMIPO) on new LNG projects. The two companies will team up to explore upstream, midstream and downstream opportunities. In 2015, Vitol signed up to supply KOMIPO with 400,000 tons of LNG annually for 10 years. Hyung Koo Park, president and CEO of KOMIPO, said: "KOMIPO looks forward to developing its relationship with Vitol, o
Belships completes Lighthouse merger in solid financial shape Belships has received a financial boost from its merger with Lighthouse Group, completed on 10 December, and now the two companies are focusing on combining their business processes. Belships' profit for the fourth quarter 2018 was $14.2m, compared to $16m in the same period in 2017, according to its latest financial report. The result was boosted by a purchase bargain gain of $12.8m from Belshi
US and European activity lifts boxship rates Benchmarking platform Xeneta has revealed a rise in long-term boxship rates on the back of increased US export and European import activity. The Oslo-headquartered company said its database of more than 85m contracted freight rates indicates a month-on-month rise of 2.5% for February. "Although relatively modest, the climb halts a decline that has effectively been on going since August 2018," it
BRS puts yacht broker YPI up for sale to focus on core business Paris-based shop to concentrate resources on growing broking network and investment in digitalisation
Ponant celebrates three decades with cruiseship first Clients queue up to visit the North Pole as Vard sets to work on innovative newbuilding
Sustainability becomes a top priority as Ponant explores pristine areas of the world Ponant takes caring for the sensitive environments in which its ships operate very seriously, says international sales director Stephen Winter. "Everything from the food we source, interaction with the local people, reducing plastic, and recycling water to teaming up with scientists who can use our ships for research," he says. Since 1 January, Ponant has stopped using heavy fuel oil and instead
Ponant powers ahead as part of billionaire's investment arm Luxury expedition cruise line moves towards 12-strong fleet, including an LNG-fuelled hybrid electric icebreaker
Subsea 7 wins second BP contract worth up to $300m Kristian Siem-backed Subsea 7 has won a "substantial" new contract for subsea services from BP Exploration. Subsea 7 lands BP deal worth up to $150m The deal is worth between $150m and $300m and involves construction, inspection, repair and maintenance, it said. This covers BP's North Sea region west of Shetland and in the northern North Sea. The five-year deal will see a life-of-field support
NYK: no decision yet on new $540m cruiseship NYK Line has said no decision on fresh cruise sector investment has yet been taken following a report it will order a new vessel. The Nikkei daily claimed the Japanese owner will contract a ¥60bn ($543m) vessel for delivery in the mid-2020s. Anchor fund backs NYK Line's ambitions to grow cruise line The move would follow the decision last month to sell a 50% stake in its cruise business to dome
Zim invests in airfreight alternative Ladingo Israeli container line Zim has put its money behind technology company Ladingo, which plans to rival airfreight for consumers by sharing containers. Zim said it views the investment as a strategic move as part of Ladingo's $1m funding round. Ladingo aims to "lead a global consumer revolution by enabling personal importation of large and bulky items to shoppers purchasing from international onlin
Eyes fixed on K Line VLCC sale as tanker price rise faces test VLCC asset values are facing a test of their upward momentum with the ongoing sale of a K Line tanker. Record US crude exports fuel tanker rate rise Tanker spike keeps S&P at near record levels Values of older VLCCs have climbed by one tenth or more in the past three months and the sale of the 314,000-dwt Tamagawa (built 2007), which has just come off time charter, will help determine if the t
Veteran bulker ablaze off Italy Firefighters have been tackling a blaze on an elderly bulker off Italy. Venezia Today reported that the 8,900-dwt Hala B (built 1985) alerted authorities at 6pm local time on Tuesday, when it was three miles off Chioggia. None of the timber carrier's crew were reported to be injured. Fire brigade vehicles, tugs and divers were sent to the site. The cause of the blaze is not yet known. The ves
OW Bunker fallout forces 'old school' sector to come of age Lawyers say clearer contracts will help owners and suppliers reduce disputes
A bunker market dominated by Big Oil may be no bad thing for shipping An effective oligopoly run by the major fuel suppliers would not be good for pricing, but it might bring a measure of stability in an uncertain post-2020 world
BW VLGC captain scoops prize with Minions picture Who doesn't love a Minion? The crew of BW LPG's 82,000-cbm BW Prince (built 2007) certainly do. A photograph taken by the vessel's captain, Martin Gagelonia, won second prize in the company's recent photography competition. It shows happy crew posing in front of three tanks customised to resemble the little yellow rascals from the Despicable Me films. Why not go a stage further and incorporate
EGAS charter settlement boosts Hoegh LNG Norway's Hoegh LNG Holdings has seen profit and revenue rise after settling contract compensation with Egypt Natural Gas Holdings Company (EGAS). It said net earnings in the fourth quarter were $44.98m, up from $19.96m in the same period of 2017. Revenue grew to $122.34m from $76.05m as it banked $34.7m from EGAS in recognition of remaining contractual commitments under a suspension and settleme
Steve Kunzer joins board of shipbroker Braemar Former Eastern Pacific Shipping chief executive named as non-executive director
Owner Bjorn Tore Larsen back as CEO of OSM Norway's OSM Maritime Group founder and chairman Bjorn Tore Larsen is back at the helm of the company. He will become chief executive from 4 March, the shipmanager said. Oaktree takes big stake in shipmanager OSM The controlling shareholder previously held the position up to 2013. The company was set up in 1989 and now has 11,000 staff running more than 500 ships. Current chief executive Geir
Impairments increase the red ink at MMA Offshore But Aussie OSV operator says it is well positioned to take advantage of improving market conditions
Keppel to take 30% stake in Gimi FLNG company Singapore firm says investment may be used as seed asset for a possible infrastructure fund.
Greek bulker involved in Singapore collision arrested Malaysian authorities said to have detained panamax when it arrived at Tanjung Pelepas.
BW Group grows stake in DHT Singaporean owner bolsters its leading interest
Alliances call for removal of non-highway funding limits Witnesses gave the Senate Subcommittee on Transportation and Safety a variety of recommendations to improve intermodal infrastructure, including establishing an office in the Transportation Department.
Kuehne + Nagel aims to grow twice as fast as market The Switzerland-based freight forwarder and logistics company reports both increased sales and profit for 2018.
U.S. continues block of Appellate Body appointments The latest opposition stopped a proposal by 73 WTO members to end an impasse as the U.S. continues to voice its concerns about the functioning of the panel itself.
APL offering high-speed rail service to Midwest
Matson ship being repaired after minor oil leak
Dray Alliance raises $3.5 million in seed round funding
Golar LNG signs deal to build West African Tortue floating unit Golar LNG has entered into a 20-year lease and operate agreement with BP for the charter of a floating LNG unit to operate the Greater Tortue Ahmeyim project, located offshore Mauritania and Senegal, it said on Tuesday.
Uniper eyes Fujairah facility debottlenecking ahead of IMO 2020 Uniper Energy is considering debottlenecking its ultra-low sulfur fuel oil production facility in Fujairah in preparation for higher demand for the fuel ahead of tighter regulations governing shipping under IMO 2020, a senior company executive told S&P Global Platts on Wednesday.
Chinese independent refiner imports US Eagle Ford crude from S Korean storage Chinese independent refiner Hongrun Petrochemical received a rare shipment of US Eagle Ford crude from storage tanks in South Korea this week, according to port and shipping data.
More crude exports head to Asia, while Venezuela sanctions may bring higher prices, volumes: Ecopetrol Executives at Colombia's state-controlled Ecopetrol Wednesday said an increasing share of crude exports is heading to Asia and that sanctions on Venezuela's troubled oil industry may be a factor in not just higher volumes, but rising prices for his company's predominantly heavy crudes.
European demand lifts Cheniere LNG outlook as US export competition heats up Cheniere Energy expects Europe to absorb more of its LNG in the near term because of stronger netbacks and higher demand, even as it continues to target Asia as a key market for long-term growth, executives said Tuesday as the US exporter released its latest financial results.
Saudi Aramco targets zero fuel oil production by 2024
External: Marine Bunkering(Rotterdam)B.V.
Ships with scrubbers must lock in HSFO needs to avoid supply hassles: Lloyds "Shipowners need to be cautious about other non-sulfur related parameters of their bunker requirements," Raitt said.
Level playing field for fuel costs set to disappear due to IMO 2020: BIMCO While some players have hedged their bets, "others will stake their money on both 'horses'," Pedersen said.
TRADER NOTE: Eugenia Benavides, Timothy Cosulich elected to IBIA Board The result of the IBIA board elections were announced February 25.
FONARs 'not a free pass' for non-compliance to IMO 2020 rule: ICS "FONARs remain a tool of last resort and are not something that a ship will be able to use routinely," ICS' Bennett said.
UAE's ADNOC inks oil and gas framework agreement with South Korean companies The agreement covers downstream investments and bunkering opportunities for oil and LNG.
FUTURES: Crude higher on bullish US stocks data, OPEC cuts "API data bullish," The Price Futures group analyst Phil Flynn said in a note.
ICS voices opposition to Canadian Oil Tanker Moratorium Act The bill represents a "dangerous precedent that might be copied elsewhere", ICS said.
Oil majors must target costs to face energy transition: BP's Dudley Under BP's current long-term energy outlook, global oil demand is expected to peak by 2035 before holding at around 108 million b/d to 2040.
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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