MARAD announces nine Marine Highway project designations The U.S. Department of Transportation's Maritime Administration (MARAD) today announced the designation of nine Marine Highway Projects and a Marine Highway Route that, together, will benefit Connecticut, Florida, Michigan, New York, Oregon,
Shipping industry comments on proposed Panama Canal toll hikes The Panama Canal Authority (ACP) is conducting a public consultation on a proposal to adjust the Panama Canal tolls for containerships, vehicle carriers, dry bulk carriers, tankers, chemical carriers, LPG and LNG
Pod problems force Royal Caribbean to make multiple itinerary changes Royal Caribbean is having to change more than 30 itineraries involving several ships due to propulsion problems affecting Allure of the Seas. Here's what the cruise line said in an email sent
KOTUG opts for Fleet Xpress for tugs supporting Shell Prelude Trials of Inmarsat Fleet Xpress off Western Australia have persuaded global tug operator KOTUG International to select the high-speed broadband solution for this area of the Asia Pacific region. Following Inmarsat Fleet
Huntington Ingalls pays $159,000 to resolve discrimination case Huntington Ingalls Industries Inc. has agreed to pay $159,050 in back wages and interest to resolve alleged systemic hiring discrimination violations found in a routine compliance evaluation by the U.S. Department of
Seacat orders second Chartwell 24 offshore wind support vessel U.K. offshore energy support vessel (OESV) operator, Seacat Services, has taken up its option to build a second Chartwell 24 catamaran for the offshore wind sector. Construction of the vessel, to be
Twin tankers pass methanol milestone Swedish ship management company Marinvest reports that its Mari Jone and Mari Boyle, two of the first vessels powered by dual-fuel ME-LGIM (-Liquid Gas Injection Methanol) engines have each passed 10,000 operating
Time to avoid a shambolic Brexit is running out Ripping up the past 46 years of a country's trading arrangements is no small matter, and the way the government...
Navios reverts to boxship purchase option The Nasdaq-listed company cools on a deal to acquire a second new panamax containership this year against a background of...
Eagle Bulk targets further vessel sales "It is strategic to modernise our fleet and keep the age down," says Eagle Bulk's chief executive Gary Vogel
Diana improves revenue despite shedding five ships The Greece-based owner posted a net loss of $1.3m for the second quarter of the year, but achieved higher average...
Digitalisation not about replacing human crews The digitalisation of shipping should be used to assist crews rather than replace them
BA and Marriott penalties highlight rising cyber crime risk As British Airways and Marriott International recently demonstrated, fines for cyber breaches can be eyewatering. Best not to go there...
Why is shipping so slow to digitalise? Shipping leaders understand that digitalisation is important, but obstacles still stand in the way of full-scale roll-outs
Tufton Oceanic Assets tops 13% yield The company is also upbeat for shipping's prospects, with feedership rates stabilising and a recovery in Brazilian iron ore output...
Zeamarine picks up project for BHP Australia mining complex The project involves transporting about 450,000 freight tonnes from China to Port Hedland, Western Australia
Castor Maritime doubles fleet with panamax buy The move doubles Castor's fleet that until now had comprised a single bulker, the panamax Magic P
Sembmarine heads for LNG carrier repair record The yard group is on track to redeliver 46 LNG tankers in 2019, up from 41 during the previous year
Singapore yards on road to recovery despite tougher climate Keppel O&M eked out a small profit, while Sembmarine slipped into the red, but beyond such superficial differences the two...
OOCL revenues and volumes up despite slowing transpacific trade Strong showing on Atlantic and rising intra-Asia rates help OOCL keep head above water
SGX will discontinue LNG pricing index SGX, which also owns the Baltic Exchange, has created several LNG freight shipping indices
Daily Briefing War risk market drops higher pricing for UK-flag tankers | Iran-China crude flows up, along with opaque practice | The...
Woodside ups preparations at Scarborough gas The proposed Scarborough gas development, which will pump 4m to 5m tonnes of LNG per annum via the Pluto complex...
Oakland's maritime community is being ignored by city government The city council recently dithered for hours before even considering to hear the concerns of executives and dockworkers who had...
EIA: lower transport costs, narrow price spread will make Europe the 'preferred destination' for US LNG exports US LNG exports to Europe have outpaced exports destined for Asia so far this year
Chicago mayor rejects bid by Savage Services to run city's port The mayor wants to capitalise on the potential growth of the port, already a major intermodal hub, as new developments...
Eagle Bulk sees second quarter of the year net loss due to weak rates Company realised a $6m net loss with average rates down 15% year on year
Chevron issues charter tender for VLGC newbuilding duo Energy major emerges in the market for repeat business on large gas carriers
Boxship charter rates could rise to cover IMO 2020 costs Some operators seem particularly exposed as shipowners look to recoup investment
FMSI scrubber sales are going against the flow Indonesia and Singapore-based firm says it is busy ahead of IMO 2020 deadline but still has capacity to fulfill 2019 deliveries
US continues to push shipping on AIS activation No reason other than piracy for ships to turn off satellite tracking, official says
After worker death, Evergreen defends shipbreaker Kabir Evergreen Line is defending its dealings with Bangladeshi shipbreaker Kabir Steel after a worker death last week. On 24 July, a cutter identified as Shahidul fell from a "great height" and died at Kabir's yard in Chittagong while taking apart the 5364-teu Ever Union (built 1997), formerly owned by Evergreen. Worker killed at Bangladesh shipbreaker Tuesday, the Taiwanese liner operator said it
Cosco tanker unit sees emissions surge by one third in 2018 Cosco Shipping Energy Transportation, whose green credentials questioned by CDP, reports huge hikes in greenhouse gas emissions amid fleet expansion
New life breathed into Leviathan FLNG plan Golar LNG and Exmar signed up to compete in design contest for new LNG floater
Newcomer GriegMaas boosts fleet with Celsius Shipping vessel GriegMaas, the new bulker venture backed by Norway's Grieg Star, appears set to expand its fleet with a fourth Chinese built ultramax. Grieg Star and Maas Capital form bulker joint venture Young people predicted to change shipping's approach to diversity and the environment European brokers say the venture has bought the 63,000-dwt GH Rough Habit (built 2012) from Celsius Shipping of Denmark fo
Top Eagle Bulk investor Oaktree grows stake with $7m stock purchase Eagle Bulk Shipping's lead investor Oaktree Capital has bolstered its interest in the Nasdaq-listed bulker owner. The purchase has come to light just days after Oaktree invested $45.5m in a convertible notes offering launched by Eagle to fund the purchase of six vessels. Los Angeles-based Oaktree has bought 1.94 million shares, bringing its total unit count to 28.2 million, according to an SEC
Diana Shipping posts second quarter loss following vessel sales Owner's fleet has shrunk following its divestment of older tonnage
BW Group sells $2m slice of Dorian LPG as it continues retreat Andreas Sohmen-Pao's BW Group has sold another slither of shares in former takeover target Dorian LPG. LPG and tanker stocks race ahead of S&P 500 as recovery unfolds LPG owners don't expect new ships despite rising rates The Singaporean shipowner has offloaded stock worth around $2m in the latest sales, SEC filings show. BW Group began selling Dorian shares this summer as it started a retreat
Ugland managed bulker brace picked up by Greek shipowner Two Isle of Man controlled supramax bulkers are reported sold enbloc to a Greek buyer. The Hyundai Vinashin built 55,000-dwt Sheffield (built 2010) and Peterborough (built 2009) are changing hands for $21m in total, sources say. LT Ugland rebrands as MX Bulk Management VesselsValue says the ships are controlled by Isle of Man based Linur group. The ships are among a fleet of seven bulkers man
Avin International tied to purchase of Formosa Plastics tanker Greek owner Avin International is expanding its fleet with the acquisition of a nine-year-old MR tanker from Formosa Plastics, brokers say. Avin joins march of the makers with HHI suezmax order Enesel adds to crude tanker drive with suezmax duo at Samsung Heavy Industries The 50,000-dwt FPMC 23 (built 2010) has been picked up for a price in the low $15ms, US brokers report. VesselsValue says t
Navios Maritime Containers rings up seven-ship refinancing deal Angeliki Frangou's Navios Maritime Containers has refinanced debt on seven of its vessels and switched out a purchase obligation on another ship. New York-listed Navios Containers revealed the changes as it reported a small second quarter profit today. Navios Maritime Containers names new finance chief after Christopoulos quits Navios Containers refinances as profit dwindles It explained the
TradeWinds survey: final call to have your say on environmental regulations Our industry survey on shipping's answers to climate change will close on 2 August.
Dae Sun marks gas sector debut with order for small gas carrier South Korean owner orders replacement for 18-year-old, GS Caltex-chartered vessel
Euronav VLCC period deal shows underlying confidence in market Despite spot weakness, the world's largest crude shipping firm has reportedly time chartered out an eco-VLCC for a year at $37,500 per day
OOIL mulls investment options with $1.29bn Long Beach purse pending Liner giant Orient Overseas (International) Limited (OOIL) is likely to have over $1bn to fund fleet growth as it moves closer to the long-awaited sale of its Long Beach Container Terminal. OOIL pockets $1.78bn for Long Beach terminal to clear path for Cosco deal AP Moller-Maersk heads into uncharted waters as historic shift in strategy unfolds Hong Kong-listed OOIL struck as $1.78bn deal wit
Dof bondholders convert $2.4m into shares Dof's bondholders have converted notes worth NOK 21m ($2.4m) into the company's shares. Dof warns of loan defaults and covenant breaches A total of 2.1 million new shares have been issued at a conversion price of NOK 10.00 per share, which has raised Dof's share capital by NOK 10.5m. As a result, the Oslo-listed company's market capitalisation has been raised to NOK 1.5bn, divided into 300,887,
Narrowing NAV gap could herald pick-up in shipping investment Improving trend for dry bulk and tanker companies is expected to trigger more activity in US capital markets
Equipment delays to hit SeaBird Exploration's bottom line Two of SeaBird Exploration's vessels are running around two months behind schedule due to equipment delays, which is expected to hurt the company's bottom line. SeaBird presses private placement to fund swoop for Boa SBL brace The delays concern a niche 3D survey in West Africa and a 2D survey survey in the Americas, for which deals were awarded in April and January respectively. Both contracts
Morten Arntzen's Team Tankers linked to sale of fourth ship in 2019 Morten Arntzen chaired Tankers Tankers is being linked with its fourth tanker sale this year. Key shipping players party onboard the Christian Radich Banks: Scrubber financing is 'very risky' Brokers say the company has sold the 46,700-dwt Team Tarantella (built 2002). A price in excess of $8m is being placed on the Brodotrogir-built vessel. Team has yet to respond to requests for comment
Zeamarine inks largest contract to date Zeamarine has inked its largest contract to date with the business set to employ its latest newbuildings. The contract with Schenker Australia will see the Zeaborn unit carry 450,000 freight tons from China to Western Australia. BHP revs up $400m climate change plan as part of 'zero emissions' goal Its ZEA-type 14,900-dwt newbuildings will undertake the work, with Zeamarine chief commercial off
Trafigura takes in two Greek-owned tankers on short time charters Two Greek shipowners have locked suezmax tankers into short period contracts with trader Trafigura, brokers say. Trafigura calls time on third-party deals Charters behind double VLCC strike by SK Shipping emerge as price focus intensifies Trafigura in talks with Hyundai Heavy for LPG-fuelled VLGC duo Adam Polemis company New Shipping and Stamatis Molaris-backed Alma Maritime have inked deals w
Stena Bulk raises concern for tanker crew as BP avoids Strait of Hormuz Stena Bulk has raised concerns about the health of the seafarers on board a tanker captured by Iran at a time when oil major BP has confirmed it is avoiding the Strait of Hormuz trouble-spot. Middle East Gulf tension having 'fairly muted' impact on tanker markets Stena Bulk: Company access to Stena Impero 'imperative' British warship thwarts Iranian bid to seize BP tanker Iranian forces abse
Castor Maritime splashes the cash on veteran panamax Petros Panagiotidis-led owner set to double the size of its fleet with Korean-built bulker
Sembcorp Marine posts loss, but worse to come in second half Problems at Singapore repair and conversion group compounded by a lack of new orders
Intra-regional feeder boxships face IMO 2020 fallout Smaller, older ships set to suffer after 1 January as regional shippers will struggle to pass on costs to customers
Senators express concern over USMCA de minimis footnote A small business exporter highlighted the benefits she has reaped from de minimis exemptions during a Senate Finance Committee hearing Tuesday.
Pushback on Panama Canal toll hike timing Three groups representing 90% of shipowners say a Jan. 1 toll hike would coincide with the IMO's low-sulfur mandate.
Will bet on dry bulk recovery pay off? On the same day that Eagle Bulk reported a Q2 net loss, it successfully closed on the sale of $114.1 million in convertible bonds, with proceeds earmarked for the purchase of six modern-built bulkers.
Senators lay out $287 billion highway bill "The bill cuts Washington red tape so road construction can get done faster, better, cheaper and smarter," says Wyoming Republican John Barrasso.
Trump's unified agenda puts license exception for civil end users on chopping block The Commerce Department has proposed to end this license exception as part of meeting the Trump administration's federal government-wide goal to reduce regulations.
REFINERY NEWS: China's Wepec cuts Aug gasoline, gasoil exports by 22% on month The supply of gasoil and gasoline in the local market is a bit tight due to the refinery maintenance under PetroChina.
Rare heavy naphtha cargo set to sail north as China draws a surprise interest Kerteh's naphtha grade could have been sought after for either its gasoline-blending properties or related aromatics production.
Intercontinental Exchange launches more marine fuel contracts ahead of IMO 2020 These new contracts include marine fuel mini-contracts to help shipping companies looking for smaller-size contracts to manage their risks, Barbuto said.
Singapore ex-wharf 380 CST Aug bunker term prices jump on tight supply "There is not really a lot of done deals [for August term] as not many people dare to buy at such levels [of high twenties over MOPS]," a bunker supplier said.
Qatar delivers first Q-Max to Belgium's Zeebrugge LNG terminal The shipment on vessel Al Dafna was made on July 22, marking the first discharge of a Q-Max LNG vessel at the terminal, it said.
Singapore fuel oil premiums hit all-time high over European prices on tight availability The supply constraint for HSFO cargoes in Singapore boosted arbitrage economics for deliveries to Asia from Europe and Russia
US sanctions have caused 95% decline in Iran oil exports: Pompeo "We are committed to keeping the Strait of Hormuz open and secure," Pompeo 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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