JV aims to build and operate U.S. offshore wind support vessels Bernhard Schulte Offshore GmbH (BSO) and MidOcean Wind LLC (MOW) have entered into a joint venture to build and operate support vessels for the U.S. offshore wind industry as well as to
Fincantieri Marine Systems wins $9.6 million USCG engine work contract Last week Fincantieri Marine Systems North America (FMSNA) was awarded a $9.6 million contract to perform maintenance and repairs to the U.S. Coast Guard's fleet of Inland Buoy Tenders. The multi-year contract
Austal books order for its largest ferry yet Austal (ASX:ASB) has been awarded an EUR 83.65 million (about US$92.6 million) contract for the design and construction of a new 115 meter high-speed catamaran ferry for Molslinjen of Denmark. The order
Kirby says inland marine results "meaningfully improved" in third quarter Kirby Corporation (NYSE: KEX) has reported net earnings for the third quarter ended September 30, 2019 of $48.0 million, or $0.80 per share, compared with earnings of $41.8 million, or $0.70 per
Shipping must contribute to a greater understanding of the oceans All users of the oceans have been urged to collaborate in a global project that aims to map the seabed...
Responsibility for misdeclared cargoes lies with shippers 'If the CTU code became mandatory I think we would have a better opportunity to follow up after incidents and...
Baltic Exchange eyes new revenue model Three years after its sale, Singapore Exchange-owned shipping bourse, the Baltic Exchange, is re-evaluating its role within global shipping, including...
Trade war weighs on HPH Trust results Hong Kong terminals post a 5% fall in throughput as US-bound cargoes continue to decline
Norden drops full-year profit guidance on calculation error The company expects full-year results to sit within a range of $10m to $45m as it lowered guidance in the...
Emas Offshore goes under judicial management Various rescue attempts have fallen through, with Emas Offshore previously being linked with Philippines conglomerate Udenna Corp as well as...
Scrubber installations face delays into 2020, Wärtsilä warns The Finnish manufacturing and technology company saw scrubber installations drop in the third quarter and anticipates delays in the fourth...
The Interview: Michael Khouri Light-touch regulator wants carriers to thrive as long as they follow the rules
The Lloyd's List Podcast: Shipping and the law The Podcast is in Naples this week as our law and insurance expert David Osler talks over the legal challenges...
OOCL posts mild growth in peak season Slack demand and trade disputes have led to a lackluster peak season performance for the Hong Kong-based liner shipping carrier
Vessel-operating costs continue decade-long decline Insurance, lubricants, and crewing costs all saw declines in 2018 as the BDO OpCost survey recorded a continuing fall in...
Daily Briefing Free to read: Maersk calls for focused future fuel development | Fuel price spreads show signs of IMO 2020 impact...
POSH Terasea to be wound up after loan defaults POSH said the maximum potential financial impact arising from the liquidation will be up to $42m and no material impact...
Bulker newbuilding orders at second-lowest level on record since 2001 Freight market uncertainty, short- and long-term costs from regulations are the main reasons holding back owners from ordering new ships
OOIL completes $1.78bn Long Beach terminal sale Macquarie emerged from the other bidders, including EQT Infrastructure and Yildirim Group, as the winner of the terminal assets in...
Two MR tankers stuck in San Francisco as fire-hit ethanol terminal stops operations California authorities stopped operations at the NuStar facility as a search warrant was served by investigators looking for answers about...
US-sanctioned Cosco tankers unit gets two months' grace period to complete voyages Tanker stocks were down about 2%-10% across the board after the note was issued by the US Treasury Department on Thursday
Safe Bulkers stays in the black despite drydockings The company remains focused on installing scrubbers on half of the fleet and Safe Bulkers meanwhile put in a profitable quarter...
ExxonMobil to supply natural gas for proposed new Alaskan LNG venture The distance to Tokyo from Qilak LNG's site on the North Slope is about 3,340 nautical miles, while Incheon would...
Capital Product Partners puts $500m on the shelf Capital Product Partners has put some more shares in the hopper for possible sale one day. The diversified owner has registered $500m worth of common shares, preferred shares and debt securities with the SEC so that the New York-listed company may sell such instruments from time to time. The Jerry Kalogiratos-led company said it would use any sale proceeds for general partnership purposes, inclu
Simeon Palios' daughter next in line to lead Diana Shipping Diana Shipping has created a new deputy chief executive position, effective immediately, as part of a succession plan for company founder, chairman and chief executive Simeon Palios. Semiramis Paliou, a company executive and Palios' daughter, has stepped into the new role while keeping her current posts as a director since 2015 and chief operating officer since 2018. Diana share buy-back hugel
Analysts lower estimates on Safe Bulkers Srubber retrofits expected to cause profit headwind
Seafarer, two MOL-tied companies charged in pollution case A Filipino seafarer is facing decades in prison and his MOL-connected employers millions in fines after his ship allegedly dumped oily waste water near the Golden Gate Bridge. Gilbert Dela Cruz was the first assistant engineer aboard the 26,200-dwt products tanker Zao Galaxy (built 2012) earlier this year when, US prosecutors allege, he ordered crew members to illegally dump oily bilge water mult
Ice-belted FSU shifts off to Sharjah as project delays lengthen An LNG carrier that was converted into a specialised floating storage unit designed to operate in ice has been moored off Sharjah as delays to the project it was designed for lengthen. The 138,107-cbm Portovvy (ex-Excel, built 2003) has been brought alongside in the emirate and may undergo gassing-up and cool-down operations to prepare it for inspection and trading, sources said. FSU offered out
Tidemand group disposes of another 12-year-old supramax Bulker said to have gone to Vietnamese interests after group declares sale option
Traders move on speculatively ordered LNG newbuildings Two Greek shipowners have locked away ships to traders in a market showing fresh upward potential
Galp Energia taps up shipowners for lone LNG carrier Portuguese energy company Galp Energia is in talks with shipowners for a single LNG carrier to take on charter. LNG market sources said the company requires one ship by 2022 to lift the new volumes it has signed up to buy from the US. Venture Global takes FID on Calcasieu Pass LNG The Portuguese company appears to be in talks with owners of existing tonnage on its requirement, suggesting it cou
Contships hits 40-vessel mark with Boluda feeder pair Nikolas Pateras-led company piles on larger feeder containerships while clearing out smaller, older tonnage
Kirby outperforms as it trims fourth quarter expectations Kirby Corp reported a better-than-expected third quarter, but the Houston company does not see the good times rolling. For the three months ending 30 September, New York-traded Kirby posted a $48m profit, good for $0.80 per share and $0.08 better than analysts had predicted. Kirby snaps up more inland tank barges The performance was lead by a strong showing from its marine transportation segmen
Wartsila profit hit by massive overspending and fall in scrubber demand At a group level, Wartsila's results before tax was zero for the third quarter
Fredriksen backs merger of scrubber firms Clean Marine and FMSI Enlarged company will be able to offer finance in addition to design and installation expertise
Pacsari orders three Mitsui E&S eco-design bulkers Indonesian food producer expanding fleet to carry growing Asian trade
AET's LNG tankers earn thumbs up from Norway's Equinor MISC subsidiary AET is one of the pioneers of LNG dual-fuel tankers, having run a tight race with Sovcomflot (SCF Group) to get the first such vessels in service at the end of last year. AET's dual-fuel aframax tankers Eagle Brasilia and Eagle Bintulu (both built 2018) immediately went on charter to Shell upon being commissioned. The latest shuttle tankers - the Eagle Balder and Eagle Blane - we
Landbridge 'not looking for top dollar' to charter its VLCCs China's biggest private VLCC owner is content to let its clients take the upside on the bull charter market
Bonheur reports big drop in third-quarter results Oslo-listed group sees net income slide on net financial items, but Pareto upbeat on its prospects
Steamship Mutual increases P&I rates and refunds members The club is refunding $17m to its members, which it says will cover the general increase in rates.
Singapore brokers and traders swing behind Mercy Ships Cargo Day Shipbrokers, charterers and shipowners in Singapore are backing Mercy Ships, as the charity hospital ship operator steps up its activities ahead of its annual cargo day fundraiser. Senior figures from Clarksons, BRS, Affinity, Clearlake, Eastern Pacific, ST Shipping, Thenamaris, Trafigura, Total, Vitol and others have formed a Singapore regional committee to encourage donations. They join colle
Samudera sinks to loss on weaker tanker and bulker revenues Weak trading conditions in Indonesia and elsewhere take their toll on shipowner
Brokers set to battle it out for charity rugby lunch London's top S&P brokers look set to go head-to-head for the chance to have lunch with a Rugby World Cup winner - and it's all in the name of charity. Graig Shipping marks centenary with 100km charity cycling event Up for grabs is a private lunch with rugby legends Neil Back and Martyn Williams in March 2020 ahead of the England v Wales game at Twickenham. The lunch is the idea of Graig Shippin
Higher costs and lower utilisation hurt Gulf Navigation Dubai tanker owner says it is looking to outsource its ship management activities
Austal wins newbuild contract for largest ever ferry Aussie fast ferry specialist's latest order for Danish owner to be LNG dual-fuel capable
Maersk to retain rotor sail onboard LR2 after 8.2% fuel saving Shell-backed initiative said to have reduced C02 emissions by 1,400 tonnes during year-long trial
Shipwell raises $35 million of series B venture capital Austin, Texas-based centralized freight platform Shipwell raised $35 million of venture capital funding from a consortium of investors led by Georgian Partners of Toronto, Canada.
Reefer volumes trick while dry van treats Reefer volumes have declined in 2019 as shippers have taken advantage of cheap van rates, but declining production and trade wars have hurt the cause...
Prologis to acquire Liberty Property Trust The transaction is worth approximately $12.6 billion.
Maple Leaf Motoring: TFI eyes more U.S. final mile acquisitions CEO Alain Bedard says company may buy more firms in the United States as it looks to bolster underperforming logistics and final mile units and...
Dana, Lonestar Specialty Vehicles launch all-electric terminal tractor Dana is supplying its electrified powertrain to a terminal tractor designed by Lonestar Specialty Vehicles, offering a new chance for fleets to electrify their operations....
Brush fires close stretch of Interstate 80 near Vallejo The fires are occurring nearby the Carquinez Bridge.
Regional-haul tractors achieve 8.3 mpg in NACFE's Run on Less Regional demonstration Ten trucks participated in NACFE's Run on Less Regional event, showcasing the fuel efficiency opportunity that awaits regional haul fleets. The trucks achieved an overall...
Daimler Trucks pledges carbon neutrality in key markets by 2039 - with caveats Daimler AG is targeting 2039 to sell only battery- and hydrogen-powered fuel cell electric trucks in its key markets. But the pledge comes with several...
Borderlands: Mexico's government close to legalizing marijuana; new international commercial bridge for US-Mexico border Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico's government nears legalizing marijuana; U.S.-Mexico...
Valero expects gasoline, diesel cracks to strengthen further as IMO 2020 looms There is definitely a trend upward as the January 1, 2020, deadline for the switch to 0.5% sulfur bunker fuel from 3.5% sulfur nears.
Singapore's residue stocks fall 6% on week amid tepid import activity Commercial onshore residue stocks in Singapore fell by 5.88%, the first decrease in three weeks.
Spot FOB USGC propane cargoes at four-year highs amid geopolitical concerns Propane spot cargoes out of the US Gulf Coast maintained four-year-high levels Friday amid ongoing geopolitical concerns.
Crude settles higher on talk of US-China trade progress Crude futures edged higher Friday, boosted by developments from the US-China trade talks.
ARA fuel oil stocks up 4% on week amid weak arb Fuel oil stocks in the Amsterdam-Rotterdam-Antwerp region edged higher to 1.007 million mt in the week to Wednesday
REFINERY NEWS: S.Korea's S-Oil to restart No.1 RFCC next week "We have shut the No. 1 RFCC since mid-September for maintenance for a month and a half, and plan to restart it next week," an official said.
TRADER NOTE: Gasoline trader Jerome Espinasse joins Macquarie Group Espinasse previously worked as a gasoline trader at Gunvor Group.
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.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
