Low lube oil pressure eyed as cause of Viking Sky power loss The Norwegian Maritime Authority (NMA) says that it has been working throughout the night with classification society Lloyd's Register and the shipowner to determine why the cruise ship Viking Sky suffered a
Nakilat adds to fleet through new JV with Angelicoussis Doha, Qatar, based Nakilat (Qatar Gas Transport Company) is again adding to its LNG carrier fleet through a new joint venture with long time partner Maran Ventures, the LNG ship-owning arm of
Corvus Energy solution brings port crane fuel savings and emissions cuts Corvus Energy has won an order from CCCC Shanghai Equipment Engineering (CCCCSEE) covering the supply of energy storage systems for battery-hybrid RTG (rubber-tired gantry) cranes. The order is for various retrofit and
Valmet to supply scrubbers for 23,000 TEU Hyundai Merchant newbuilds Espoo, Finland, headquartered Valmet is to supply exhaust gas cleaning systems for seven newbuilding containerships that, at over 23,000 TEU each, will be the world's largest. They are on order for Hyundai
American P&I Club manager makes senior appointments Shipowners Claims Bureau, Inc. (SCB), manager of the American Club, has made a number of senior appointments . At the club's headquarters in New York, Margaret Lee has been appointed as Lead
SHI faces $250m lawsuit from Petrobras The Brazilian oil giant claims Samsung paid $20m in bribes for a drillship contract
Viking Sky engine blackout was due to low oil pressure Owners Viking Ocean Cruises have already inspected sister ships after the two-year old cruise ship narrowly avoided disaster over the...
Nakilat and Maran launch second LNG joint venture Global Shipping Co is launched with an initial four LNG carriers from Maran's order book at DSME
Brittany Ferries says 'no turning back' on Brexit ferry capacity Ferry operator had to employ extra staff and rebook 20,000 passengers in order to supply capacity to UK government in...
Rebranded Diana Containerships given 'new start' Performance Shipping, as the company is now called, has four debt-free vessels and has raised additional cash from expiration of...
Australia detains Liberian-flagged bulk carrier after crew complaints The ITF was alerted after international crew on board complained of insufficient food, bullying on board the vessel and denial of...
Dry bulk trade growth slowing, says Clarksons Demand-side risks could pull trade growth down to a low-case scenario of 1% this year, according to Clarksons
Aegean Marine Petroleum to exit Chapter 11 with sale Court confirms reorganisation that will see bunker supplier under ownership of Mercuria and with vastly reduced debt
Baltic Exchange could face fallout in wake of IMO 2020 index decision Views have sharply diverged on how indices should reflect IMO 2020 changes. Now that the Baltic Exchange index council has...
Baltic Exchange 'clarifies' shipping indices to reflect post-2020 marine fuels change The Baltic Exchange has opted to keep its benchmark shipping indices unchanged, despite calls from some market players for the...
Japan ratifies Hong Kong ship recycling convention Japan's support boosts the standing of the yet-to-be-ratified global ship recycling convention, which was devised in 2009
SIPG warns on challenges for port business Chinese ports company says it faces a challenge to maintain stable growth for its main business
Boxship scrubber orders grow Carriers aim to take advantage of potential cost savings from scrubbers but low-sulphur fuel will still dominate box shipping's bunker...
HMM appoints new chief executive Prior to a six-year stint in a logistics company, Bae spent 20 years with LG Group in the electronics industry
Daily Briefing VLCCs reshape crude flows as US Gulf becomes net exporter | World Shipping Council attacks 'flawed' ITF report on BER...
Daily Briefing Baltic Exchange could face fallout from 2020 index decision | Nakilat in second LNG venture with Maran | Liberian-flagged bulk...
Western Australia ports reopen after cyclone The Western Australia to China capesize voyage C5 route on the Baltic Exchange dipped to $4.68 per tonne, a decline...
Sapura Resources links up with Rolls-Royce unit The tie-up will aim to provide original equipment packaging solutions for marine and other industries in Malaysia
Los Angeles confrontation signals smart ports battle The current confrontation between APM Terminals and the ILWU is not just a local matter. It is a test case...
Norden sells four bulkers According to VesselsValue, the bulkers were sold for $38.5m in total, and the transactions included two panamaxes to unknown Chinese...
Fire-damaged cargo out of Yantian Express, says Hapag-Lloyd The 7,510 teu boxship has been at Freeport, Bahamas since early February following a fire onboard in early January
Bangladesh to welcome second FSRU in April FSRU Excelerate, which recently underwent drydocking with Nakilat-Keppel Offshore & Marine, is due to begin a 15-year time charter with...
Low lube pressure blamed for Viking Sky emergency Preliminary findings of Norwegian investigation points to problems with lubricating oil pressure
Flex LNG linked to Chevron charter in flurry of deal-making John Fredriksen-controlled Flex LNG is believed to have tied up a 12-month charter for one of its 13 LNG carriers with energy major Chevron. Brokers said the company has fixed the 173,400-cbm, M-type, electronically-controlled gas-injection (ME-GI) vessel Flex Enterprise (built 2018) to Chevron. Fredriksen's Flex inks time charter with super-major Last week, Flex said it had fixed a ship on a o
Nasdaq suspends trading in Hunter Maritime Acquisition Nasdaq has imposed a trading halt on Hunter Maritime Acquisition's securities after an unusual leap in its share price. The Saverys-backed company's share price has increased by over 1,000% since Friday, despite not releasing any news during this time. Nasdaq has asked Hunter to provide any information it has relating to the activity seen this week, according to a press statement on Wednesday.
Seaspan shares flagged for resale US boxship owner logs 38.5 million shares held by a dozen investors.
MR tanker rates buoyed by transatlantic trades and IMO 2020 Spot earnings for the product carriers are picking up due to high European and US exports, while optimism for period rates can be attributed to looming sulphur cap
Clarksons taking over US brokerage Safe Harbour Tanker Chartering Shipbroking giant Clarksons has struck a deal to take over US brokerage Safe Harbour Tanker Chartering. Jim Weinberg, who heads Connecticut-based Safe Harbour, and his team will join the Clarksons Platou Specialised Products division. Clarksons called the transaction a key step in the development of its specialised product arm and an important milestone on what will be a growth path for the busi
SUNY Maritime's Christopher Clott works to set up a marine digital incubator SUNY Maritime professor Christopher Clott lays groundwork for ideas hub in the heart of the Big Apple to accelerate maritime innovation
Eastern Pacific orders up to eight LR2 tankers at New Times Company's first dealings with Chinese shipbuilder will replace the failed deal at troubled HHIC-Phil
Tallink Grupp orders $281.3m LNG-powered ferry from Rauma Marine Estonian owner pairs up with Rauma Marine Construction as part of a drive toward 'eco-friendliness' for shipping operations.
Ultrabulk bounces back to profit as revenue tops $1bn for first time A stronger dry cargo market helped Dag von Appen's Ultrabulk bounce back into the black in 2018 and the Chilean shipowner is confident of a brighter 2019 for its overall Danish shipping business. Ultrabulk banked a profit of $15.5m last year, flipping a loss of $2.4m in 2017, according to details released by the private company this week. Per Lange, chief executive of Ultrabulk, told TradeWinds:
Baltic Exchange concludes IMO 2020 consultation with minor changes Certain market participants have been vocal in their criticism, but the Baltic appears to have settled on a commonsense solution ahead of 2020.
Princess confirms Fincantieri cruiseship double Princess Cruises has signed final contracts for two new vessels at Fincantieri in Italy. A preliminary deal for the 175,000-gt pair was agreed last July. They will be the largest such ships ever built in Italy. The Monfalcone yard will deliver them in late 2023 and in spring 2025. The units will house 4,300 guests and will be the first Princess vessels to be dual-fuel, powered primarily by LNG
Kurt Klemme: Automation in shipmanagement set to rise Digitalisation will "change the shipping world", says Kurt Klemme, managing director of leading German owner Reederei Nord. The Hamburg-based company's view is that digitalisation will drive a higher level of automation in shipmanagement, as well as chartering, he says. But the level of "scalability" will be limited given there are only around 60,000 oceangoing commercial vessels. Reederei Nord
JP Morgan picks up Angeliki Frangou's Navios Maritime Containers Angeliki Frangou's boxship owner presents an 'interesting alternative' for investors, says Analyst Noah Parquette.
KGJ sells OBO for scrap The Kristian Gerhard Jebsen company SKS Tankers has sold one of its two remaining combined carriers (OBOs) that were built before 2000. Demolition brokers in Europe say the 109,000-dwt Tiete (built 1999) has gone for green recycling into India for $425 per ldt or $8m. The company tends to keep its ships till they are 20 years old. SKS Tiete is due for special survey this year and has been on th
Atlantic Bulk offloads tanker for $33m and departs sector Greece's Atlantic Bulk Carriers Management has ended a brief return to the tanker market, selling its only product carrier in a $33m deal. Several brokers in the UK and the US report the company is offloading the 50,000-dwt Desert Mariner (built 2018). The Hyundai Vinashin Shipyard-built product tanker is understood to be going to a non-Greek, multinational outfit. Some brokers have identified th
Marinakis fixes out ex-BP aframax Greek owner Evangelos Marinakis appears to have done well on his investment in a 13-year-old aframax tanker. According to European brokers, the 113,000-dwt Androklis (built 2006) has been fixed for a year at $20,500 per day, with an option for a second year at $25,000 per day, by trader Trafigura Beheer. The Marinakis company Capital Maritime and Trading bought the ship from BP as British Kestre
Billionaire Torstein Hagen leads with his heart as he offers support to victims The fast-growth cruise industry should take notice of Viking's approach as cruise and shipping increasingly push into harsh maritime terrain
Japan ratifies Hong Kong Convention International recycling regulation added to national law.
Angelicoussis and Nakilat forge LNG carrier alliance Qatar's Nakilat and John Angelicoussis' Maran Ventures are teaming up to run LNG carriers. The two companies have set up a joint venture (JV) called Global Shipping Co. Nakilat will have a 60% stake, with Maran having the rest. Nakilat hints at Q-Flex LNG carrier transits of Panama Canal Maran Gas makes LNG design switch as DSME decision looms It will operate four 173,400-cbm newbuildings, ef
Merger finalises after Evangelos Marinakis finally gives into Diamond's advances Capital Product Partners and US tanker owner merge after a year-long courtship
ITF reveals state of food stores on German bulker Video footage has revealed the state of food stores aboard a German bulker held in Australia. The 58,000-dwt Anna-Elisabeth (built 2008) made the news after it docked at Port Kembla for an inspection by the Australian Maritime Safety Authority (AMSA). The check had been requested by the ITF union after complaints of inadequate provisions and lack of shore leave made by the 17 Sri Lankan
Sterling's Quentin Soanes plays down digital threat to S&P brokers Digitalisation faces an uphill task replacing sale-and-purchase brokers, according to Sterling Shipping Services' chairman Quentin Soanes. "How is a Greek owner going to sell his ship to a Chinese buyer [who doesn't speak English]," says Soanes. "I don't see digitalisation has any role in that." Soanes doubts whether digitalisation in S&P will reach the point where "you start worrying about it"
BW completes chemical tanker exit with scrap sales Andreas Sohmen-Pao-controlled BW Group has reportedly completed its exit from the chemical tanker sector with a scrap deal. The Singapore company has sold two elderly ships, the 19,500-dwt Bright World (built 1997) and Bold World (built 1998), for more than $800 per ldt or more than $5m each, scrap brokers said. Idan Ofer completes deal for BW chemical tanker fleet The price was due to a high s
Rise of the 'aquanaut' keeps human element at fore of autonomous ship technology Industry's technological push should be seen as an opportunity to supplement highly qualified seafarers, rather than replace them entirely
Agility Gas plots VLEC revolution US company Agility Gas Technology is developing what it believes will be a game-changing VLEC-type ship for gas transport. It is teaming up with compatriot Herbert Engineering Corp (HEC) to design a large atmospheric-pressure cryogenic-liquid chemical transport vessel. "Specific designs are under development for very large volume liquid ethylene, ethane and propylene transport," it said. Agilit
Johannes Ostensjo targets growth with NMS takeover Private owner Johannes Ostensjo dy AS has bought Norwegian crewing company Norwegian Maritime Services (NMS). The operation, established in 2005, will be run as an independent unit with its own management in the Ostensjo Group. No financial details were revealed. Ostensjo Rederi reveals frigate rescue drama NMS supplies seafarers to Norwegian shipowners. It is headquartered in Akrehamn with br
Jae-hoon Bae takes top job at HMM Korean owner HMM has brought in logistics specialist Jae-hoon Bae as its new president and CEO. He is replacing CK Yoo, who announced in February he would be stepping down at the end of this month. Bae was recommended earlier in March by a committee led by Korea Development Bank following a "comprehensive candidate examination", the company said. HMM launches $136m scrubber fund HMM CEO CK Yoo
Kalani claims charity not a motive for DryShips aid Marc Bistricer-led investment house says it had risk and profit in mind lending to George Economou's struggling public company, not attempt to manipulate values
Newcomer Archangel Pacific gets going with four ships and links to Pappadakis clan A new dry bulk player is up and running in Piraeus led by a member of Greece's Pappadakis family and John Couroussopoulos, a former co-managing director of Kassian Maritime. Archangel Pacific has been in business since December. Equasis already lists the outfit with four bulkers, all of which were previously managed by Kassian. Archangel's debut quartet consists of the 81,600-dwt Egyptian Mike (
Aegean Marine to exit Chapter 11 next week New York-listed Aegean Marine Petroleum Network has had its reorganisation plan confirmed. The US bankruptcy court for the southern district of New York approved the scheme, subject to minor modifications. This paves the way for the company to emerge from Chapter 11 restructuring next week as a wholly-owned subsidiary of Mercuria Energy Group, it said. Oaktree Capital Management looks to recoup
Crypto hype for initial coin offerings dies down Some project developers may shift to venture capital to back their blockchain-based shipping platforms after some disappointing results last year
Clarksons: markets "recalibrating" ahead of IMO 2020 Clarksons Research has unearthed signs of further "market recalibration" ahead of IMO 2020 next year. Managing director Stephen Gordon said vessel supply is looking manageable and there is potential for IMO 2020 'wildcards' to have a positive impact. But broader economic headwinds are impacting sentiment, suggesting demand side risks should be monitored closely, he added. Case highlights 'massi
BGL finds new OSV for gold retrieval Salvage company Britannia's Gold (BGL) is heading back out to lucrative British World War shipwrecks with a new OSV. The company has chartered an unnamed ship to try to extract millions of dollars of gold and silver from vessels in the Irish Sea and Atlantic. BGL brings in Kursk salvage team to cut into war wrecks Gold-hunters begin cutting into war-time wreck It has secured the OSV with the h
FSL fundraiser won't lead to mandatory offer The new $31m fundraiser by First Ship Lease Trust (FSL Trust) will not lead to a mandatory offer from subscribing unitholders. The company has won approval from Singapore monetary authority SIC to waive this obligation as long as other investors agree. The fundraiser was revealed last November. FSL Trust seals SGX approval "in principle" for fundraiser FSL has proposed a non-renounceable prefe
Croatia arrests 12 in probe into Uljanik "financial damage" Croatia has arrested 12 people on suspicion of causing more than HRK 1bn ($152m) of financial damage to struggling shipbuilder Uljanik Group and the state budget. Interior minister Davor Bozinovic told state news agency Hina: "This morning the police began action during which 12 people were arrested." Uljanik workers weld yard gates shut Domestic media said among the dozen held were former top
American Club bolsters capabilities in Greece and New York New York-based P&I outfit says four appointments also help to grow gender diversity.
Glencore caught up in China-Canada canola dispute Commodity giant's Viterra subsidiary latest to feel impact of fallout surrounding tech executive.
Aussie iron ore ports back in action after Veronica Berths and anchorages to be re-populate in a staged manner over the next 24 hours, says GAC.
International Seaways offers casualty reaction advice Shipowners need to strike the right balance between openness and credibility after casualties, an International Seaways executive told the assembled attorneys at the American Bar Association's Admiralty Disruption conference in New Orleans over the weekend. James Small, the New York-traded tanker owner's corporate secretary and general counsel, said companies need to have a system to communicate
BP: Refiners have invested $1bn to meet IMO 2020 Oil major says there's been a huge amount of investment in refineries and it will continue beyond 2020.
Stronger USMCA labor provisions urged Several representatives of organized labor told a House subcommittee on Tuesday that the U.S., Canada and Mexico should get back to the negotiation table for a stronger enforcement mechanism for USMCA labor provisions.
HMM names Jae-hoon Bae president and CEO The South Korean liner carrier's announcement does not mention former leader C.K. Yoo, who told employees he was resigning in February.
ITF responds to World Shipping Council attacks The International Transport Forum says its "views are grounded in data, evidence and economic research with the objective to foster efficient transport solutions that serve citizens."
Transplace breaks ground on Arkansas operations center
Ryder bringing on new chief financial officer
Oakland cranes to be converted to hybrid power
Canadian National acquires TransX
Nike pays 12.5 million euro fine for trade restrictions
RBOB leads oil futures lower after US stock build NYMEX RBOB futures settled sharply lower Wednesday after US Energy Information Administration data showed a surprise build in US Atlantic Coast inventories
US crude supply adds barrels as refinery runs, exports slow US crude supply edged higher last week as exports dipped and refinery headwinds weighed on utilization rates
Pemex imports light crude in February, boosts heavy crude exports to the US Pemex imported light crude in February while freeing up more barrels of heavy oil for export to the US after sanctions on Venezuelan grades were imposed
External: Global Risk Management
BIMCO developing clauses, contracts to prepare for IMO 2020 "Our big focus is keeping the industry informed...how you can put it into practice," Hunter said.
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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