Oaktree takes a stake in Rand Logistics Private equity firm American Industrial Partners (AIP) has agreed to sell what it calls "a significant minority stake" in Great Lakes operator Rand Logistics to funds managed by Oaktree Capital Management's Transportation
VIDEO: Car carrier giant plans to build wind-powered PCTC Oslo-headquartered Wallenius Wilhelmsen is planning to build the world's first full-size wind-powered pure car and truck carrier. To be called Orcelle Wind, the 220 meters x 40 meters ship will have the
David S. Jansen joins Blank Rome Government Relations Blank Rome Government Relations LLC reports that David S. Jansen has joined the firm as a senior advisor in its Washington, D.C., office. Jansen most recently served as the Democratic staff director
Silicon Valley AI developer takes ship performance solutions "out of stealth mode" Japan's K-Line is to fit 300 ships with an AI (artificial intelligence) based performance analysis solution developed by Palo Alto, Calif., based Bearing Inc., a company backed by AI pioneer Andrew Ng's
TTB: Big River Coalition's Sean Duffy to speak on Mississippi River channel deepening At this year's free virtual presentation of Marine Log's TTB -Tugs, Towboats & Barges conference, being held March 23 and 24, Sean Duffy, senior executive director of the Big River Coalition, will
Empire Wind awards FEED contract for wind turbine foundations In another sign that U.S. offshore wind development is moving right along, Empire Offshore Wind LLC has signed a front-end engineering and design (FEED) contract that will see Oslo-headquartered Aker Solutions study
Great Lakes Dredge reports an "exceptional" year, despite pandemic The largest provider of dredging services in the U.S., Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD) today reported financial results for the quarter and year ended December 31, 2020. "Great Lakes
Maersk plans to operate carbon-neutral liner vessel by 2023 A.P. Moller - Maersk today announced that it will launch of the world's first carbon-neutral liner vessel in 2023 - seven years ahead of its initial 2030-ambition. All future Maersk owned newbuildings
Halt in force on US Gulf LNG exports Moves by LNG producers to cut back gas consumption will lead to reduction in exports from the US, hitting shipping...
FSL Trust lines up product tanker sales "Earnings prospects for LR2 product tankers in the short-term have fundamentally weakened due to the adverse impact of the coronavirus...
Port of Los Angeles diverts ocean carriers to reduce cargo backlog The decision to divert ships from America's premier port comes as the Federal Maritime Commission steps up its enquiry into...
Port of New York-New Jersey sees record throughput in 2020 PNYNJ recovered from the first-half losses to end 2020 with a new container record of 7.6m teu, a 1.5% rise...
Vietnam shipowners linked to sanctioned oil trades Vessel-tracking data shows the vessels frequently spoof location and switch off Automatic Identification System to obfuscate the origin and destination...
Another Maersk boxship loses containers in north Pacific storm Extreme weather in the north Pacific has led to a number of incidents of containers lost overboard. Latest event is...
Golden Ocean launches private placement as it buys 18 bulkers from affiliate The purchase has been made at the low point in the cycle with "attractive financing" attached, Golden Ocean said. It...
Wallenius Wilhelmsen plans wind-powered ro-ro Wallenius Wilhelmsen has unveiled a concept for the world's first wind-powered pure car and truck carrier, saying its design could...
Clubs go easy on worst-hit shipping sectors in tough renewal round 'It's all well and good saying, we need 5%, but what are people paying to start with? Five per cent...
TECO 2030 plots mega-hydrogen factory in Norway The Norwegian company wants to build a 1.2 gigawatt hydrogen fuel cell factory to service ships and heavy duty installations...
Retail investors buy into shipping Share prices have risen an average of 34% across the shipping portfolio since the start of the year, according to...
DNV GL shines light on the 'dark side' of innovation Decarbonisation is creating a safety gap, which, if left unmanaged, could delay industry progress, says DNV GL's head of maritime...
InceMaritime adds tech to legal and consultancy expertise US-based Mission Secure has linked up with InceMaritime to provide cyber threat hunting and incident response to Ince's clients. This...
Weekly Briefing: Tankers endure negative earnings | Box success uneven | Dry attracts investor attention This week: Before anyone gets too excited about oil price and talk of a super-cycle everyone would do well to...
Firefighting standards are not fit for the age of ultra-large containerships Fires on containerships can be dangerous and devastating. But even on the biggest boxships, crew are only required to have...
Daily Briefing Free to read: P&I clubs 'getting big rate rises' as renewal deadline looms | Does shipping need its own ammonia rules...
Kim Heng makes inroads with Taiwan offshore wind JV Offshore wind projects are yielding better margins than those in the oil and gas sector, says Kim Heng executive chairman
Dry bulk tonne-mile demand falls as Argentine grains miss the boat Pacific demand for Argentine wheat has dropped as Asian grain buyers shift to abundant Australian produce. In the first two...
Maersk to launch first carbon-neutral ship within two years Maersk plans to have a methanol-fuelled ship in its fleet by 2023. All newbuildings following that will have the ability...
Hutchison looks to expand Oman container terminal The study will start this year and will assess the social, environmental, logistical, in-country value and economic impacts of any...
Costa Cruises pushes fleet suspension to late March The Italian Carnival brand expects to sail two more ships in May
IMO, WISTA International launch survey for women in shipping The two intend to repeat the survey every three years amid greater efforts to diversify shipping
Flex LNG opts for spot exposure but will shift to term when 'time is right' A steam and diesel-electric ships are struggling to compete as tougher emissions regulations kick in, says owner
Golden Ocean to spend $752m on bulkers from John Fredriksen's private arm Acquisition would brings the New York-listed owner's fleet count to 96 ships
Billion-dollar shipping week for dry freight derivatives, says FIS New record in trading volumes smashes the record set in 2008, during the last shipping cycle boom
SFL nets $17.5m from sale of stake in ultra-large boxships Losses confirmed on drill rigs as company shifts focus to assets with low carbon footprint
Seanergy prices $75m offer with eye focused on more capesizes The New York-listed owner just expanded its pureplay fleet to 12 capesizes
Cleaves sees early signs of 'massive capital injection' for tanker owners Analyst Joakim Hannisdahl upgrades sector early after spotting potential influx of investor cash
War chest: Ocean Yield has 'a few hundred million dollars' to spend on new ships Norwegian owner is on the acquisition trail after offloading a series of leased vessels
Flag-state system needs to be radically reformed and be put at top of ESG agenda When flag states sell their national sovereignty to abusive shipowners, shipping and ship finance need to stop rationalising the practice and take action
Feasting on turnovers? US-listed dry bulk owners are adjusting to a new diet Rising share prices are one thing, but there are other measures of investor interest and bulker owners are finally seeing them
Wallenius Wilhelmsen plots wind-powered PCTC by 2025 Race to cut emissions leads to Oslo-listed shipowner's second design for a cargo sail-ship
Crew leaves grounded tanker in UAE after four-year shift Seafarers swim to shore after lengthy ordeal but agree to stay to help with vessel sale
Capesize spot rates jump sharply thanks to futures market and firmer fixtures Baltic Exchange's capesize time-charter average rate was up by almost 30% on Wednesday
Elbdeich acquires LNG-fuelled feeder boxship as fleet expansion continues German owner to investigate potential of gas as a fuel on other vessels in its fleet
Zodiac Maritime linked to move to bring DSME order haul to 10 boxships Eyal Ofer-led owner is said to have exercised options on neo-panamax quartet
Tanker owners 'face the music' as scrubber-fitted eco VLCCs fetch low period rates Period market remains active despite weak charter rates for young VLCCs amid bearish market outlook
Banks extricate themselves from Empire suezmax quartet Greek owners Moundreas and Molaris seen to benefit from creditor-driven deal
Zodiac Maritime boosts DSME boxship order haul to 10 newbuildings Eyal Ofer-led owner confirms quartet of optional berths
Hapag-Lloyd profits to soar but it tones down expectations for 2021 Earnings off to a flying start but market expected to 'normalise', says CEO
Union urges owners to follow MSC's crew change action in China ITF says it is time for owners to pay the cost of getting stranded crew home from trade blockade
GNMTC extends push into modern tankers with aframax buy from FSL Libyan state company picks up high-spec tonnage from First Ship Lease Trust (FSL Trust)
Flex LNG sees more demand for US LNG in 2021 Harald Gurvin signs off as chief financial officer after more than 15 years with Fredriksen Group
Arbitration retains momentum in Singapore as Asian push pays dividends Arbitration volumes climbed slightly as new management began regional outreach and met the challenges of the coronavirus
Bimco helping bulkers shift to slower 'just in time' business model Organisation's Grant Hunter explains the importance of new clause aimed at avoiding wasteful waiting time in ports
CMA CGM's new air division takes off as strategic shift continues Liner company acquires four freighter aircraft to complement its shipping business
ArcelorMittal confirms bulker involved in Gibraltar spill The ship ceased bunkering operations immediately after the spill, mining giant says
Lemos Group's new bulker agent makes debut capesize purchase Led by former Oldendorff managers, Valhal Shipping hits its stride as Enesel's exclusive agent for dry bulk shipping
Top shipbrokers set up carbon trading desks in the hunt for new business BRS, Clarksons and Affinity are among the first maritime brokerages to enter the environmental trading market
Beginner's guide for shipping firms in carbon offset market New entrants urged to be cautious as not all offset projects are cut from the same cloth
Early adopter: Maersk to run first carbon-neutral ship by 2023 in methanol plan Danish containership giant moves decarbonisation target forward by seven years
Sovcomflot video captures February first Northern Sea Route voyage for LNG carrier Drone footage shows ice-breaker working with vessel in first February crossing of Northern Sea Route
Cooking and heating demand for LPG swells the coffers of Epic Gas during pandemic Small LPG carrier specialist remains optimistic for 2021 as residential LPG demand remains high
Prem Watsa targets VLCC sector through $82m Seven Islands IPO Canadian billionaire's Indian tanker company also wants to buy an MR with cash from Mumbai listing
Hydroussa Navigation snaps up kamsarmax as prices move higher Deal marks the firs sale for the Greek company in seven years
Evalend Shipping scores rare Tier II bulker newbuildings Greek shipowner books kamsarmaxes to be built to IMO's older NOx standards
Trafigura tries out cheaper Schuldschein market for $134m loan Trader and shipowner seals first move into German alternative bond market as it diversifies finance base
Safety can't be sacrificed as we sail into increasingly complex waters New fuels and greater digitalisation promise huge rewards, but what of the potential dangers?
Arbitration keeps up momentum in Singapore as Asian push pays dividends Arbitration volumes climbed slightly as new management began regional outreach and met the challenges of the coronavirus
BW Offshore invests $72m in offshore wind firm Ideol ahead of Oslo listing Singapore floater specialist says experience in offshore markets 'highly complementary' to offshore wind sector
Myanmar's fledgling tanker market holds its breath over threat of more US sanctions Any further action by Biden administration may make cargo moves more complicated, say traders
Another Maersk ship sailing for LA loses containers Six cases of at-sea container losses have been reported in less than three months.
Patience tested: 62 ships at anchor in San Pedro Bay "If we do nothing, we will still have vessels at anchor come midsummer," says Port of LA Executive Director Gene Seroka.
Chinese factories won't build enough containers to save US shippers Cargo shippers hamstrung by the global container shortage should not expect a box building spree in China to come to their rescue.
Amazon, FedEx air partner ASL orders 737-800 converted freighters You've probably flown in a Boeing 737-800, a next-generation variant of this popular 737, but when they are put to pasture they become valuable assets...
US exposes North Korea blockchain plot to evade ship sanctions The U.S. has indicted a computer hacker working for Pyongyang to help North Korea evade U.S. maritime sanctions.
Viewpoint: Bruises for Alaska cruises The United States and Canada should do more talking and less unilateral banning and canceling.
REFINERY NEWS ROUNDUP: More refineries in Europe to produce cleaner fuels Essar Oil UK and Austria's OMV have recently announced new projects, which will be focused on producing cleaner fuels.
Gibraltar bunker delays after oil spill, bad weather: sources A combination of bad weather and an oil spill hampered supply operations around the port of Gibraltar in recent days but bunkering has continued throughout though with some delays, sources have said.
US Gulf Coast bunker market waits out winter storm US Gulf Coast retail bunker prices edged slightly higher Feb. 17, as suppliers in the region deal with harsh winter weather.
Fuel price rises could result in wider bunker sector quality issues: KPI OceanConnect Marine fuel quality issues could begin to surface again this year as the price of fuel and blending components begins to rise again, marine fuel supplier KPI OceanConnect warned in a 2021 sector outlook published this week,
Piraeus continues bunker operations despite snow: sources Bunker operations at the Greek port of Piraeus were not impacted despite cold weather conditions, market sources said Feb. 17.
Calumet Specialty announces Great Falls, Montana, renewable diesel project Calumet Specialty Products has plans to produce renewable diesel by reconfiguring a hydrocracker at its 37,000 b/d Great Falls, Montana, refinery, the company said in a statement.
OIL FUTURES: Complex settles higher on crude output, refinery losses Oil futures continued to rise Feb. 17 as continued frigid weather and power outages took a toll on crude production and refinery operations, mostly in Texas.
Maersk plans to operate first carbon-neutral container ship by 2023 AP Moller-Maersk, owner of the largest shipping company in the world, is aiming to operate the world's first carbon-neutral vessel by 2023, seven years ahead of schedule, it said Feb. 17.
Singapore March ex-wharf marine fuel term settles higher on supply tightness "Most buyers will secure March term after the [Lunar New Year] holiday," a trader said.
FUJAIRAH DATA: Oil products stocks drop to 2021 low as fuel oil exports set record high Total inventory was 20.854 million barrels on Feb. 15, down 1.6% from a week earlier and the lowest since Nov. 30.
Singapore HSFO quality and testing procedures Platts welcomes feedback on the above issues, including testing methods, and quality specifications.
India's maiden carbon-neutral crude purchase opens door for more "The purchase of the first carbon-neutral crude by Reliance signals their intentions clearly," Malhotra said.
HONG KONG DATA: 2020 fuel oil imports drop 11% on year to 38 mil barrels Demand has yet to recover fully, even though the container market is strong, sources 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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