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Latest From Finance

Matson expects a $15m dent from coronavirus impact

Chief executive Matt Cox expects an overall improved consolidated financial performance led by the reduction in fleet deployment to nine vessels in the Hawaii tradelane service and the financial benefits from the firm's other infrastructure-related investments

Containers Finance

Genco to sell 10 handies in fleet renewal

Genco says that the coronavirus outbreak has lowered the demand for cargoes including iron ore and coal 

Dry Bulk Sale and Purchase

Maersk credit facility linked to environmental performance

New revolving credit facility will see Maersk pay lower rates if it meets or exceeds carbon reduction targets

Europe Denmark

Venture capital-backed Danelec focuses on IoT growth

Hans Ottosen tells Lloyd’s List why it was necessary to relinquish a majority stake in the company if the opportunities identified in the IoT area were to be secured

Denmark Technology and Innovation

StealthGas acquires gas carriers in new joint-venture

The deal is the second in a year for the Greece-based company

Tankers and Gas Finance

MPC Container Ships picks up $13m after Oslo placement

MPC Container Ships has raised NKr125m ($13.2m) after the successful completion of the private placement of 7,250,00 new shares in the Norwegian capital

Europe Germany
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Latest From Insurance

Skuld grows book 4.6% and expects to top 100m gt

Skuld announced a combined ratio of 112% last November and warned owners it would be seeking firmer pricing

International Insurance

American Club gains 10% on per-tonne pricing, at cost of losing tonnage

‘Although difficult business conditions prevail in both the shipping and insurance sectors, the American Club’s recent experience has been highly encouraging’ — Joe Hughes

International Insurance

‘We need a smaller group of better capitalised clubs’

The main obstacle to change in the P&I sector is the decision-making process within the International Group where every one of the 13 clubs, regardless of their size, has the same vote

Focus Market Modernisation

Polemis company leaves American Club as P&I providers confirm firmer pricing

‘The reduction in rates seen over recent years has been arrested and reversed, as planned, this being an important step to address the imbalance in risk exposure/premium created by the prolonged soft market’ — London’s Ian Gooch

Insurance International

P&I renewal round sees 7.5% ‘going rate’ fail to stick

‘Maybe three, three-and-a-half-ish,’ says P&I broker asked to specify percentage point jump in what owners are actually paying

International Insurance

Coronavirus: P&I will cover seafarer illness and death, Standard Club confirms

‘If there were an unfortunate incident with a seafarer who contracted the virus, then class cover would respond in the normal way as it does in any situation where seafarers develop an illness,’ says claims director Richard Stevens

International Insurance
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Latest From Law

Bernhard Schulte Shipmanagement fined $1.75m by US

The company pleaded guilty to illegal discharge of bilge waste from a product tanker and keeping false and incomplete records

Ship Management Environment

The Interview: Dr Aleka Sheppard

Dr Aleka Sheppard founded the London Shipping Law Centre in 1994, in what she now admits to be an outburst of naïve enthusiasm. The organisation has just celebrated its silver jubilee and is still going strong, and will be around for years to come, she tells Lloyd’s List

United Kingdom Law

US court upholds Gourdomichalis corporate veil in Adamastos action

‘This result is an important statement that US courts will not hold shipowners responsible for liabilities incurred by entirely separate corporate entities’ — Seward & Kissel partner Bruce Paulsen

United States Dry Bulk

Indonesia to roll out eased coal and crude palm oil cabotage rules in May

Technical guidelines for implementing the new rules are expected to be drawn up by the end of this month

Indonesia Dry Bulk

Owners warned not to use virus to avoid China port calls

Time charters require charterers to nominate a safe port for the vessel, but that typically covers the physical characteristics of the port, or weather conditions. With regard to coronavirus, strong evidence would be needed to demonstrate the substance of the risk and the unsafety of the port, warns Clyde & Co

International China

Coronavirus: Lawyers warn of shipping contract issues

Singapore’s border ban on recent travellers to China and Hong Kong’s tightening of its borders with mainland China are cited as two key developments, while others may emerge quickly

China Asia Pacific
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Latest From Regulation

From the News Desk: Has the shipping sector accepted new EU emissions rules are inevitable?

Europe’s four leading carriers have taken the bold step of agreeing to work in collaboration to help decarbonise the shipping sector, while there appears to be a growing acceptance within the industry that new EU rules on limiting emissions are on the way – and sooner than many would prefer.

Environment Energy

Shipping comes to terms with its future

The shipping industry knows EU rules on emissions are coming. Soon enough, those parts of the industry that think the EU is acting a misguidedly draconian fashion by failing to secure global co-operation will be forced to turn their focus on what those rules will look like

EU Environment

Disagreements over approach to decarbonisation persist

A high-profile panel discussion in Brussels highlighted how despite agreement on the overall goal, decision makers and stakeholders have different visions of the future

International Environment

Brazilian consultant to SembMarine jailed in bribery and money laundering case

The two executives came to the authorities’ attention in the massive Brazilian anti-corruption campaign Operation Car Wash

Brazil Regulation

The MEP leading the drive to slash shipping emissions

Jutta Paulus is the politician at the vanguard of arguing the case that the EU ought to step in and regulate emissions, even without any global consensus on such an issue. She is also at the forefront of putting the argument to the shipping industry that it should cough up funding for maritime decarbonisation projects in the EU

EU Political and Trade
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Latest From Casualty

US court upholds Gourdomichalis corporate veil in Adamastos action

‘This result is an important statement that US courts will not hold shipowners responsible for liabilities incurred by entirely separate corporate entities’ — Seward & Kissel partner Bruce Paulsen

United States Dry Bulk

Iran calls for review of tanker safety after Sanchi report

The fire and thick smoke that engulfed the tanker within minutes would have made it impossible for any crew member to survive, Iran says in submission to IMO ahead of a sub-committee meeting in March

Tankers and Gas Safety

Clubs urge adherence to new dangerous goods code

TT Club and UK P&I Club seek ‘significant improvements’ in packing, stowage and declaration of hazardous cargoes

Insurance Containers

Marine accident reports remain inadmissible in English courts

Mr Justice Teare has reaffirmed that detriment to incident investigations that might come about if MAIB reports were allowed to be used as evidence outweighs any benefit to commercial arbitration. The reports remain off-limits for commercial court disputes

United Kingdom Casualty

UK agrees treaty with US to protect Titanic wreck

The UK and US governments have passed legislation giving themselves the power to grant or deny licences authorising people entering the hull sections of Titanic

United Kingdom Casualty

Ship batteries need extra fire risk safeguards

DNV GL hopes the joint development project’s findings will help guide battery safety rules as the technology evolves

DNV GL Group International
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Latest From Piracy and Security

Ten crew kidnapped in West Africa pirate attack

The hijack of the product tanker Alpine Penelope brings the total number of crew kidnapped to 64 over six separate incidents since November

Piracy and Security Crewing

Tripoli port bombing halts peace talks

A reefership and a handysize bulk carrier are the only vessels over 5,000 dwt tracked at the port of Tripoli since it was bombed yesterday amid claims a Turkish ship had berthed carrying arms and ammunition

Tankers and Gas Piracy and Security

Maersk Tema crew safe following pirate attack off Guinea

Latest attack highlights growing security risk in the waters off Nigeria

Guinea Piracy and Security

Cyber risk needs proper training to minimise threat

Speakers at a cyber risk conference have suggested that increasing digitalisation and connectivity have brought new vulnerability to shipping that training has been unable to match

United Kingdom Cyber

Singapore Strait shipping targeted by criminals

Since no one has been caught, ReCAAP warned that further incidents could occur and advised vessels to be vigilant

Singapore Dry Bulk

ICS calls for action after 50% spike in Gulf of Guinea kidnappings

ICS has welcomed Nigerian initiatives, but said ‘now is the time to see real results’

Middle East and Africa Piracy and Security
See All

Latest From Ports and Logistics

Box shipping will face long-lasting effects from coronavirus

Carriers should not expect any return to normal growth levels this year, says BIMCO

Containers Ports and Logistics

Union calls on new UK maritime minister to boost jobs

The maritime union wants greater investment in education, tighter rules on competency certificates and improvements to the tonnage tax scheme

United Kingdom Political and Trade

Between the lines: Cargo owners feel impact of coronavirus

The coronavirus outbreak and continued closure of various manufacturing entities has taken a significant bite out of container shipping demand in Asia

Coronavirus Containers

Ports of Long Beach and Los Angeles sign agreement to improve market share

The new agreement between the two Southern California ports aims to reverse decline, a point underscored by the directors of the two facilities

US States Containers

DP World acquires key terminal in Canada

Fraser Surrey Docks was founded in the early 1960s and has become the largest modern and multi-purpose terminal on the west coast of North America, operating some 1,200 m of berth and 189 acres of yard

Canada DP World

China Merchants Port raises $100m from virus-control bonds

More than 60 entities have raised Yuan7.5bn from the so-called virus-control bonds in the period from February 10 to February 21, according to Wind’s data

Asia Pacific Containers
See All

Latest From Environment

Maersk credit facility linked to environmental performance

New revolving credit facility will see Maersk pay lower rates if it meets or exceeds carbon reduction targets

Europe Denmark

From the News Desk: Has the shipping sector accepted new EU emissions rules are inevitable?

Europe’s four leading carriers have taken the bold step of agreeing to work in collaboration to help decarbonise the shipping sector, while there appears to be a growing acceptance within the industry that new EU rules on limiting emissions are on the way – and sooner than many would prefer.

Environment Energy

Shipping comes to terms with its future

The shipping industry knows EU rules on emissions are coming. Soon enough, those parts of the industry that think the EU is acting a misguidedly draconian fashion by failing to secure global co-operation will be forced to turn their focus on what those rules will look like

EU Environment

Black carbon study criticised at IMO

An argument has been put to the IMO that fuel samples used in a recent black carbon study did not represent the very low sulphur fuel oil blends used on the market today. Defenders of the very low sulphur fuel oil blends argue that more data will be needed before rules can be set

Arctic shipping Environment

Disagreements over approach to decarbonisation persist

A high-profile panel discussion in Brussels highlighted how despite agreement on the overall goal, decision makers and stakeholders have different visions of the future

International Environment

The MEP leading the drive to slash shipping emissions

Jutta Paulus is the politician at the vanguard of arguing the case that the EU ought to step in and regulate emissions, even without any global consensus on such an issue. She is also at the forefront of putting the argument to the shipping industry that it should cough up funding for maritime decarbonisation projects in the EU

EU Political and Trade
See All

Latest From Safety

Union calls on new UK maritime minister to boost jobs

The maritime union wants greater investment in education, tighter rules on competency certificates and improvements to the tonnage tax scheme

United Kingdom Political and Trade

Venture capital-backed Danelec focuses on IoT growth

Hans Ottosen tells Lloyd’s List why it was necessary to relinquish a majority stake in the company if the opportunities identified in the IoT area were to be secured

Denmark Technology and Innovation

Polaris Shipping chief convicted over Stellar Daisy's fatal sinking

Families of the victims made clear they though the the court had handed down a derisory punishment. They said they would appeal to hold Mr Kim liable for the loss of the seafarers’ lives

South Korea Dry Bulk

Concerns raised over oxygen depletion cases in enclosed spaces

The cases on board a tanker and bulk carrier, which led to two deaths including a deck cadet, involved lack of awareness and training about entering enclosed spaces

Safety Crewing

Carnival cruiseships trial on-time arrival system

Hamburg Vessel Co-ordination Centre and Wärtsilä have successfully trialled an ECDIS-based system designed to improve efficiency

Technology Passenger

Managing the transition from sea to shore

Seafarers are trained in technical skills when on board ship, while management looks for soft skills. Moving from one to the other appears much less structured than the industry would like

Crewing Ship operations
See All

Latest From Shipbuilding

Flex LNG says short-term outlook is challenging

Long term, the company is bullish, expecting annual growth between 3% and 4% for the next 20 years 

Tankers and Gas LNG

FPSOs face exposure to coronavirus delays

Significant delays in starting up floating production, storage and offloading vessels would have held back tanker activity, however the bigger fear is longer term oil and gas demand reduction, according to analysts 

Tankers and Gas Shipbuilding

Sembmarine flags ups and downs from coronavirus outbreak

The outbreak has no immediate impact on ground operations but discussion is under way to mitigate supply chain disruption, Sembmarine group chief executive, Wong Weng Sun said  

China Singapore

Yard Talk | Who will blink first?

Japan is one of the five foreign jurisdictions whose anti-trust authorities can throw a spanner in the works of the HHI-DSME megamerger 

Asia Pacific Containers

World boxship fleet update: Coronavirus takes toll on idle fleet

The wide-reaching impact of the coronavirus outbreak is now affecting developments in the active containership fleet as yards struggle to complete scrubber installations

International Containers
See All

Latest From Technology and Innovation

Venture capital-backed Danelec focuses on IoT growth

Hans Ottosen tells Lloyd’s List why it was necessary to relinquish a majority stake in the company if the opportunities identified in the IoT area were to be secured

Denmark Technology and Innovation

Major carriers signal a shift in mindset to tackle emissions

Maersk, CMA CGM, MSC and Hapag-Lloyd say they cannot go at it alone. They plan to collaborate with each other to push the climate agenda

Maersk Group CMA CGM

SpaceX to build rocket ships in the Port of Los Angeles

Elon Musk — who owns SpaceX — hopes to achieve a construction rate of 100 Starships a year, with a goal of producing a total of 1,000 units over the course of the next decade

US States Property

Go private, 5G smart port hopefuls told

5G will cut container port costs, but uneven access and vulnerability to hacking are causes for concern

Technology and Innovation Ports and Logistics

German official pitches for EU Maritime Co-ordinator to raise sector’s profile

Germany’s federal maritime co-ordinator wants to establish an EU position with an office that will help co-ordinate related activities in the bloc

Maersk Group CMA CGM
See All

Latest From Sale and Purchase

Genco to sell 10 handies in fleet renewal

Genco says that the coronavirus outbreak has lowered the demand for cargoes including iron ore and coal 

Dry Bulk Sale and Purchase

KPI Bridge Oil buys Glencore bunker outfit

The merger will see the creation of one of the biggest players in the bunker sector

Bunkers Sale and Purchase

DP World acquires key terminal in Canada

Fraser Surrey Docks was founded in the early 1960s and has become the largest modern and multi-purpose terminal on the west coast of North America, operating some 1,200 m of berth and 189 acres of yard

Canada DP World

StealthGas acquires gas carriers in new joint-venture

The deal is the second in a year for the Greece-based company

Tankers and Gas Finance

Diana considers options for cancelled vessel sales

The company said it missed the laycan in which to deliver the vessels, prompting the buyers to pull out

Dry Bulk Sale and Purchase

Maersk doubles its US warehouse holdings with $545m purchase

The deal accords with new directions outlined by Maersk chief executive Søren Skou late last year: ‘We need to grow in acquisitions on land warehouses and customs house clearing services’

United States APM Terminals
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