VIDEO: CMHI floats out offshore wind foundation installation ship China Merchants Heavy Industry (CMHI) shipyard in Jiangsu, China, has floated out Alfa Lift, a newbuild heavy installation vessel, designed and built for installing the next generation of extra-large offshore wind foundations,
New twin-screw towboat joins Parker Towing fleet Parker Towing Company, Tuscaloosa, Ala., has recently taken delivery of the twin-screw towboat Jared Phillips from FMT Shipyard & Repair LLC, Harvey, La. Measuring 128 feet in length and 34 feet in
Crowley names Dan Warner CFO Crowley Maritime Corporation reports that it has promoted senior executive team member Dan Warner to Chief Financial Officer, consolidating the company's enterprise-level financial strategy, resources and services under his leadership. In his
Halter Marine invests in customized robotic welding solutions Halter Marine continues to make upgrades in preparation for construction of the Coast Guard's Polar Security Cutter (PSC). Today, Danish robotic welding specialist Inrotech reported that it had received an order from
TORM swoops on eight Team Tankers MR carriers Copenhagen-headquartered TORM reports that it has entered into an agreement to purchase eight 2007-2012 built MR product tankers from Team Tankers Deep Sea Ltd. for a total cash consideration of $82.5 million
Navy awards Austal USA $235 million EPF contract Austal USA has been awarded a $235 million U.S. Navy contract for the detailed design and construction of the 15th Expeditionary Fast Transport (EPF) vessel. Austal USA has delivered 12 EPFs to
Access your daily edition of Insurance Day Please be aware daily editions are only available digitally at present until print distribution challenges associated with coronavirus are resolved...
Viewpoint: Cyber underwriting must evolve with the threat of ransomware A lot more to needs to be done by businesses and their insurers to better understand and identify the risk...
ID Podcast: The BI test case and a more interventionist FCA? Insurance Day asked Clifford Chance for their key takeaways from the ruling, and what it will really mean for the...
UK Supreme Court BI decision 'could muddle reinsurance Covid-19 response' Applying court's reasoning to reinsurance aggregation could 'defeat purpose of cat XL contracts'
Focus: New data standard will drive credit insurance into the digital age Standard will significantly improve transaction efficiency and facilitate better systems integration and higher trade volumes in the future
Focus: A resilient trade credit market is critical to the global recovery As well as supporting customers through this uncertain period, the market is working with global governments to develop further safety...
Beazley beta syndicate turns profit Syndicate 5623 makes a profit in its opening year of account
Floating storage and subterfuge oil trades pose earnings drag on tankers Releasing tonnage once US sanctions on Iran's oil and shipping sector are lifted will weigh on an already oversupplied market
US exporters look to guarantees for shipments The pandemic has shown that shipping contracts are not worth the paper they are written on. And while close relations...
Reinsurance pricing momentum 'to persist through 2021': S&P The rating agency says the sector likely failed to earn its cost of capital in 2020
iprism product targets predicted spike in unoccupied property MGA creates product to deal with predicted post-lockdown economic disruption
Hiscox denies allegation of slow BI payout Company stresses it is paying Covid-19 claims as quickly as possible
Swedish Club biggest relative gainer yet in renewal round International Group affiliate boosts entered tonnage with double-digit percentage points growth
Why the master is ultimately responsible for the safety of shipping A webinar that explores the master-pilot relationship points to the need for the shipping industry to re-engage the shore with...
China set to remain at centre of supply chains Since the outbreak of the trade war there have been efforts to move manufacturing to less politically sensitive regions in...
Swedish Club is biggest relative gainer yet in renewal round Managing director Lars Rhodin hails highest-ever retention rate, as Scandinavian P&I clubs strongly outpace UK-based peers
Improved access for non-Lloyd's brokers will facilitate underwriting profitability Non-Lloyd's coverholders will increase business coming into market and act as important filters, thereby helping to ensure risk is better...
Transparency vital for charterers' low-carbon shift The drive towards transparency of emissions data from shipowners is a journey that still has a long way to go...
Cinven, GIC complete Miller acquisition Broker has 'aggressive' expansion plans following deal, chief executive says
Platform launched to expand maritime's digitalisation Company will initially act as a sales conduit, but the founders see it as a possible future conduit for arranging...
Israel clears Minerva Marine tanker over bunker spill This pollution has an address - we will not ignore this environmental crime and we will take all measures possible...
Why ESG must go much further than climate change issues ESG is part of a growing interest in corporate transparency and stakeholders' expectations are evolving quickly. Although voluntary approaches do...
Axa XL appoints senior power underwriter New hire to boost carrier's UK and Lloyd's market operations
Hartford boosts environmental capabilities with hire New senior environment impairment liability underwriter to help carrier 'drive its ambition'
Data accuracy is driven by successful digital transformation Large shipping and logistics companies all place digital transformation at the top of their agenda, but their progress has been...
From scrapping to sanctions-busting Vintage tankers sold to cash buyers for scrap are reborn in sanctioned trades, shipping Iranian crude to China via a...
Ports viewed as the model hub for shipping's digital future The onus is on ports to build digital infrastructure that is safe, scalable and secure, but which provides ease of...
Israel links Iran to vessel explosion Israeli Prime Minister Benjamin Netanyahu said Iran is behind last week's explosion on the Ray Shipping car carrier Helios Ray...
Japanese ship finance firm launches $5.7bn green fund 'Maybe there will be technologies that are far better than liquefied natural gas, but today what is important is to...
Vessel attack 'fabricated' to mask security lapse A private maritime security company falsely claimed two Nigerian Navy guards had been killed in a pirate attack in an...
Torm buys eight MR tankers for cash and shares Update: Company head says it was the right time to expand its fleet. It sees itself as a consolidator in...
MOL expands data-sharing initiative to 180 ships Move is part of the shipping giant's so-called Fleet Optimal Control Unified System Project, which aims to enhance vessel safety...
Yangzijiang Shipbuilding targets $3.5bn in orders CGS-CIMB Securities analyst Lim Siew Khee says Yangzijiang is expecting sizeable contracts with a series of 10 or more units...
Keppel to be compensated for Chinese port closure Keppel expects to yield a gain of more than $28m from the agreed compensation
BW LPG positive on medium-term VLGC market Due to current market weakness the company plans to bring forward six scheduled dry dockings and two special surveys. Around 11...
Miller adds duo to UK professions team Broker expands professional indemnity markets team
Genworth divests Australian mortgage insurance unit Majority stake sold off
Daily Briefing Free to read: Better box carrier service will come at a cost, warns Saadé | Partnerships and redundancy critical to...
Fema's cat bond for NFIP grows to $575m Bond to expand in size due to demand
State Farm's income falls 34% on rate cuts and refunds Net earnings fall as company reports pandemic-related payouts
Brown & Brown consolidates wholesale units as Bridge Specialty Florida-based broker consolidates 25 units under brand
Aston Lark acquires Sennocke International Insurance Company continues acquisition drive
ERS reports record results on lower claims frequency Combined ratio improves 7.8 points to 91.9%
Aviva aims for net zero by 2040 UK-listed insurer will cut carbon intensity of its investments 60% by 2030
Berkshire Hathaway's underwriting profits soar in 2020 Reinsurance unit's underwriting losses double on near-$1bn in pandemic-related losses
GSCW: Walmart beats Amazon in circumventing port congestion, analyst says Amazon may get the headlines for promising fast deliveries, but if it can't get the product from overseas, the efficiency of trucks and delivery vans...
Maersk Essen nears LA more than 6 weeks after container loss The ocean carrier has not said when customers can expect to receive damaged or intact cargo.
Career Tracks: 'Product visionary' from Dropbox and Facebook joins FarEye Suvrat Joshi joins logistics software-as-a-service platform FarEye as chief product officer.
FreightWaves Flashback: Maersk launches first 6,000-TEU ship 1996: At 1,044 feet (318.2 meters) long, the new Maersk ships are longer than the Eiffel tower, but they are still capable of a high...
GSCW chat recap: Have globalization and world trade gone too far? Globalization isn't just driven by comparative advantage. It is skewed by subsidies and mispricing of risk, according to author Marc Levinson.
Transport buyers dig deeper into wallets for air cargo Airfreight markets are topsy-turvy in the COVID era, but importers and exporters can count on one thing: paying two to three times normal rates. CFOs...
Ocean carriers take heat for profiting 'so handsomely' while service plunged AgTC's Peter Friedmann said Hapag-Lloyd's Rolf Habben Jansen failed to mention in a press conference that the container shipping lines are enjoying record profits "while...
Denmark's Torm remains committed to scrubbers despite Hi-5 volatility **SOx emissions down on year but GHG emissions up **First loan signed with emission-linked terms
CAPITOL CRUDE PODCAST: Panama Canal seeks solutions to congestion as wait times increase We spoke with Ricaurte Vásquez Morales, administrator of the Panama Canal Authority, who has been working to reduce congestion of the canal.
Prax Group announces acquisition of UK's Lindsey refinery **Total took almost a decade to sell UK plant **Trafigura will supply crude, feedstocks to 108,000 b/d refinery **European refineries under pressure from COVID-19
Lanka Marine Services starts 0.5%S marine fuel sales at Hambantota "Cargo imports are done by Sinopec Sri Lanka with whom LMS has entered into a strategic partnership," company officials said.
VLCC fixtures fail on North Sea-to-East run as demand fails to materialize **VLCC fixtures fail on North Sea-to-East run **Muted buying demand from East amid refinery maintenance **Freight rates under pressure as cargoes withdraw
VGO loadings from Russia's Tuapse flat on month at 120,000 mt in March **Four cargoes to be shared by Gunvor, Petrocas, Tupras **HSVGO prices heard lower
Rallying oil market has OPEC+ priming the pump, as ministers balance caution with profit **Ministers to convene online March 4 to decide April quotas **Saudi Arabia holds the cards with its extra 1 million b/d cut **Still fragile physical market may belie price gains
FOB Singapore physical fuel oil traded volumes fall 75% amid easing N. Asian utilities demand in Feb "There was quite a bit of demand for both products (high sulfur and low sulfur fuel oil) from the power sector in both Sri Lanka and North Asia in January; by February, the cold snap in North Asia which sustained some demand for LSFO previously, ended," said a Singapore-based trader.
South Korea's March low sulfur bunker supply to remain similar to Feb: sources **Refiners to supply 500,000 mt of 0.5% sulfur bunker in March **Demand starts to pick up
March-arrival LSFO arbitrage volumes in Singapore seen higher at 3 mil mt: traders "[Floating storage] stock levels have been going down for a while, and the first half of March is looking tighter than the second half, hence the step up in imports; also the Asia price is still better than other regions," a trader in Singapore said.
Asia residual fuel: Key market indicators this week March 1-5 Higher arbitrage volumes of low sulfur fuel oil cargo arriving in Singapore in March underpinned recent trading sentiment, although the Singapore delivered bunker market is still expected to see an initial period of tightness, as most arrivals are scheduled in the latter hald of the month.
MARKET MOVERS ASIA VIDEO: Spotlight on energy transition at China's Two Sessions, Asian Refining Summit
Qatargas delivers its first LNG cargo to Ennore terminal in India
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