Venezuela crisis could give boost to tanker demand If the political instability continues, the country's oil production could end up at zero barrels in two to three years...
Venezuelan ports operating 'normally' after US intervention Strains on truck availability are said to be hampering the discharge of bulkers, leading to increased dwelltimes, but the situation...
Christine Cabau Woehrel joins CMA CGM Role is responsible for managing the company's industrial assets such as its fleet of vessels, its new buildings, its container...
Qatar reveals plan for 60 new LNG carriers Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering have previously built 45 LNG carriers under charter...
Swedish dockers intensify strike action The latest strike action follows on from a series of 25 intermittent strikes at 15 ports across Sweden, including Gothenburg...
Shipping urged to work together to solve bunker issues Ewoud Kamminga says failure to identify the cause of the Houston fuel problem has underscored the need for the industry...
New US maritime regulators appointed Former commissioner Daniel Maffei and new recruit Louis Sola join US shipping regulator
Unifeeder kicks off new era with Anglo-Polish service DP World completed the acquisition of European shortsea operator Unifeeder last month, as part of a $765m takeover
Neon Italy appoints Olivari as claim manager Neon Italy, the Genoa-based marine underwriting unit of specialist Lloyd's insurer Neon, has appointed Paolo Olivari as claims manager
Rally was too late for 2018 box freight rates Despite some positive numbers for freight and charter rates during 2018, box shipping enters 2019 with little positive to look...
Qingdao Port International chairman quits The resignation letter was delivered today and took immediate effect; the 62-year-old Zheng will hold no position in the company...
Celsius orders LNG duo for $375m from SHI The Danish owner had ordered two more LNG carriers from the yard in August 2018
Crane falls on to Evergreen vessel in Vancouver Terminal operator Global Container Terminals reported damage to several containers stacked at the ship's stern
Daily Briefing Chinese New Year: Reasons to be cheerful | Those who fail to prepare might not be alone | Brexit: Crisis...
Pacific Radiance sets up Abu Dhabi joint venture Pacific Radiance's joint venture company Pacific Allianz Holdings, a partnership with Dubai-based Allianz Marine, is expanding into the neighbouring emirate...
CSSC to finance 36 newbuilds Deals come as CSSC's leasing arm is preparing for an initial public offering on the Hong Kong Stock Exchange
US imposes sanctions on Venezuelan oil giant Due to the sanctions, US refiners will need to find alternative sources to replace Venezuelan heavy crude, which would be...
Brazil confusion continues to cut capesize rates Weak Chinese import demand and uncertainty surrounding Brazilian iron ore production have caused a perfect storm for cape rates.
Cormark resumes Algoma Central coverage New analyst starts following the Canadian drybulk player with buy rating, expecting a benefit from scrubbers.
Genco remains capesize bull for 2019 market UPDATE: Vale seems to validate Genco CEO John Wobensmith's belief that dam disaster unlikely to significantly reduce its iron ore volumes.
John Fredriksen helping Norwegian Air Shuttle fundraiser fly Involvement in airline rights issue sees billionaire link up again with one-time Golden Ocean finance chief.
Foresight Group's 25th winter feast draws 500 guests Foresight Group held its 25th annual winter barbecue party in mid-January with nearly 500 guests enjoying the feast. As one of the most popular events in the UK shipping community's calendar, the party in south-west London generally offers a variety of Indian and Western cuisines with vegetarian options - and this year was no exception. Mehrotra: 'I'm the world's most famous shipping face' Mehr
Baron: Aegean Marine will be stronger in 2019 with Mercuria Aegean Marine director Tyler Baron tells TradeWinds the company plans to emerge from bankruptcy in March.
Swedbank slashes impairments in 2018 Swedish lender Swedbank has cut back impairments in 2018. The figure for last year was SEK 521m ($57.5m), down from SEK 1.285bn in 2017. The bank said the credit quality of its lending portfolios remained strong. In the fourth quarter, credit impairments amounted to SEK 412m, up from SEK 117m in the third quarter. They primarily related to provisions within Swedish banking and large corporates
Fourth-quarter rebound keeps Cosco's tanker unit in the black for 2018 Cosco Shipping Energy Transportation manages to post a slim profit after a strong recovery in crude tanker markets towards the end of 2018.
Eight boxships freed from four-day ice jam Eight boxships have been released from a huge 13km ice jam near the port of Montreal in Canada. The build-up was blamed on heavy winds that dislodged ice sheets from the shore, the Montreal Gazette reported. Chinese icebreaker embedded in iceberg The vessels spent four days marooned in the St Lawrence river. Another 10 ships were stuck at ports in Trois-Rivieres and Les Escoumins, 100km downst
Optimists see tanker demand boost from fresh US sanctions on PDVSA Analysts survey potential consequences as Washington tightens the screw on the Maduro regime.
Bureau Veritas dragged into Lighthouse Winmore row The High Court of Hong Kong has approved a request from Win More Shipping to serve legal papers on French classification society Bureau Veritas (BV) in Shanghai, China, for withdrawing class from the 16,000-dwt product tanker Lighthouse Winmore (built 1975), which was arrested at the Port of Yeosu under suspicion of breaking North Korean sanctions. The papers will be served outside Hong Kong juri
Jan De Nul axes contract at Uljanik shipyard Belgian owner Jan De Nul has become the latest owner to tear up a newbuilding contract at Croatia's troubled Uljanik Group. The shipbuilder said that the Luxembourg-based Jan De Nul unit Dredging and Maritime Management has unilaterally terminated its deal for a 26,600-dwt cutter-suction dredger due this March. CLdN cancels ro-ro at Uljanik as bids lodged The contract for hull 500 was cancelled
A1 Offshore linked to Toisa PSV purchase Denmark's A1 Offshore has reportedly become the latest owner to snap up an OSV from Greece's bankrupt Toisa group. Brokers said it has paid $1.85m for the 4,400-dwt platform supply vessel (PSV) Toisa Independent (built 2003). VesselsValue assesses the ship as worth $1.36m. A1 Offshore has been contacted for comment. Its website lists nine OSVs in operation. Earlier this month, James Fisher wa
Lukoil eyes new Russian bulker terminal Russian oil company Lukoil is considering building a new bulker terminal in Vysotsk. It wants to tranship coke, coal and pellets there, according to the Leningrad regional government. "Lukoil has expressed its interest in construction of a dry cargo terminal...whose planned capacity is to reach 7m tonnes annually at the first stage, by 2021," it added in the statement cited by the Prime news age
Takeovers and talent spearhead Lockton's global expansion drive US broker with big P&I broking ambitions sees further scope for growth through acquisitions and recruitment
Scrubber users start fightback over environmental damage Carnival Corp vice president among those asserting that discharged water has no environmental impact
Roswell Tankers buys second vessel in two months Greek shipowner Michael Karagiannis has bought his second tanker in two months after being absent from the wet sale and purchase scene for half a decade. Roswell Tankers snaps up K Line aframax FSL Trust sells product tanker as fleet renewal continues Karagiannis company Roswell Tankers has added a product tanker from First Ship Lease to an aframax it snapped up in December, brokers say. Data
Polsteam set for more bulker sales Polish Steamship Co (Polsteam) is said to be putting two Chinese-built panamax bulkers up for sale. Brokers said the 79,000-dwt Giewont (built 2010) and Rysy (built 2011) will shortly be open for inspection. Polsteam eyes fresh wave of bulk carrier orders Polsteam set for yard move with scrubber retrofits in its sights The Rysy is on its way to Brazil in ballast, where it will arrive next we
Tanker and bulker fired on off Nigeria A tanker and bulker have been fired on by Nigerian pirates in two separate attacks. The IMB said the first incident occurred on 24 January about 35 nautical miles south of Brass. Pirates release RK8 Offshore AHTS crew A product carrier was shot at while underway, causing a general alarm to be raised. Non-essential crews mustered in the vessel's citadel and the ship conducted evasive moves. Th
Glencore fixes Zenith aframax duo for three years Glencore's ST Shipping has reportedly chartered-in a pair of LR1 tankers from Sophocles Zoullas' Zenith Shipping Group. Trading giants expect tough US sanctions on Iranian crude Brokers said the commodities trader's shipping arm fixed the 72,000-dwt product tanker Telluride and Augusta (both built 2003) for three years at $17,500 per day. The deal includes options that could extend the charter
Cabau Woehrel takes charge of CMA CGM fleet French container line CMA CGM has brought in Christine Cabau Woehrel as executive vice president in charge of assets. She will join from 15 March to manage the group's vessels, newbuildings, container fleet, intermodal transport and terminals. Cabau Woehrel started her career in 1987 with the French line, but became a transport consultant in 2011. The following year she was appointed CEO of the
ICG to fight compensation ruling over newbuilding delay Irish Continental Group (ICG) will appeal a ruling by Ireland's National Transport Authority (NTA) that it has to compensate passengers let down by a delayed newbuilding delivery. The owner of Irish Ferries cancelled summer 2018 sailings to France after German yard Flensburger failed to complete the 50,000-gt WB Yeats on time. ICG bags first EIB green loan of $176m The NTA said it was not satis
Egypt's state bank takes $140m NNC chunk in debt deal National Navigation Company (NNC) has sealed a debt-swap deal to settle $240m in loans owed to the National Bank of Egypt (NBE). NNC caught in OW dragnet "The deal...obligates NBE to funnel $140m into NNC's capital, placing the bank second among shareholders with a 39.9% stake," said NNC chairman and managing director Tamer Abd El-Aleem, according to Arab Finance. The rest of the debt will be r
Rosneft takes over Lebanese storage terminal Russian energy company Rosneft has signed a deal to operate an oil products terminal in Lebanon. The ministry of energy and water has handed over the Tripoli facility for 20 years. The agreement also contemplates rehabilitation and expansion of the terminal. CEO of Rosneft, Igor Sechin, said: "The implementation of projects in the Middle East is one of the strategic directions of company's deve
Pacific Radiance sets up Abu Dhabi management operation Singapore OSV player Pacific Radiance is starting shipmanagement operations in Abu Dhabi. Its joint venture Pacific Allianz Holdings has teamed up with a local company to form Al Hail Marine Services with an initial capital of AED 150,000 ($41,000). Pacific Allianz has 49% of the venture. The company will carry out shipmanagement and operations, and provide onshore and offshore oil and gas fi
Crane crashes on to Evergreen boxship A crane has crashed on to an Evergreen containership in Canada. The incident involving the 7,025-teu Ever Summit (built 2007) happened on Monday at the port of Vancouver, the Vancouver Sun reported. Global Container Terminal spokeswoman Louanne Wong said there were no injuries. In an email to Postmedia News, Wong said the vessel was docking at the facility when it made contact with the ship-to-
Celsius Tankers adds two more LNG carriers at Samsung Korean yard continues order spree by firming up options worth $376m with Danish owner.
Joachim Brack joins Columbia Shipmanagement Shipping veteran replaces Mads Soerensen as financial director in Germany.
Two killed in Cido Shipping aframax explosion Boiler room explosion in Turkish shipyard claims the lives of two yard employees while ten more are injured.
BHP defends its decision to axe Aussie crew on cabotage trade Unions and politicians claim miner is exploiting loopholes to hire cheap labour at the expense of domestic seafarers
Shippers may favor contracts over spot movements Drewry suggests shippers may want to lock in rates because of rate volatility and join shipper associations or buying groups.
Crane collapses at Port of Vancouver after hit by vessel No injuries were reported in the incident, which occurred early Monday morning, but both the crane and Evergreen ship sustained damage.
Commentary: Don't be lured by freight payment schemes IPS Worldwide bankruptcy filing is another critical reminder that shippers need to better manage their accounts payable.
Port of Los Angeles highlights 'digital transformation' Port handled 9.5 million TEUs in 2018 and believes technology can help solve "persistent systemic problems."
U.S. hits Huawei with legal double whammy
Treasury takes aim at Venezuelan oil company
Port of Oakland adds trucker turn times to portal
Descartes signs agreement to acquire Visual Compliance
Bad weather, loading delays in Black Sea strengthen Asian naphtha market A shift in freight logistics in the Black Sea due to bad weather conditions has led to expected delays of naphtha arrivals East, as naphtha lifters have begun using smaller vessels to carry cargoes through the Bosphorous straits before reloading on larger vessels.
Bad weather limits Piraeus bunkering operations Bad weather is limiting operations at the Greek port of Piraeus and causing congestion at the port, sources said Tuesday.
Glencore's shipping arm takes LR2 on time charter for up to nine months Glencore's shipping arm, has taken the LR2 Pro Alliance on time charter for up to nine months, market participants said Tuesday.
USGC HSFO swap values spike following US sanctions on PDVSA USGC HSFO swap values strengthened Tuesday morning following news of US sanctions against Venezuelan state-owned PDVSA on Monday, sources said.
Singapore LSFO, LSMGO 2018 sales may draw more bunker players as demand jumps The sharp jump in LSFO and LSMGO sales at the Port of Singapore last year is likely to change the dynamics of Singapore's bunker industry as it could potentially draw more marine fuel suppliers to offer these grades, industry sources said.
US imports of Venezuelan crude likely ended by payment rules Has Venezuela shipped its last barrel of crude oil to the US?
Oil settles higher as market mulls supply impact of US sanctions on PDVSA Crude futures settled higher Tuesday as the market continued to weigh the impact of US sanctions on Venezuela's oil sector against the global crude supply balance.
External: Marine Bunkering(Rotterdam)B.V.
Saudi's Falih says Venezuela crisis not yet affecting oil market "Let's see what happens in March or April. Let's wait," Falih said.
FUTURES: Crude stabilizes after settling down sharply "US-China trade talks, an escalating crisis in Venezuela and the Fed policy statement should keep commodity prices volatile," ANZ analysts said Tuesday.
Qatar plans to more than double LNG carrier fleet, seeks cooperation from South Korea Qatar that currently runs 50 LNG carriers plans to have additional 60 LNG carriers, and invites cooperation with South Korea, the presidential office said.
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