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Latest From Finance

Scorpio Bulkers trims losses as rates increase

The company posted $5.3m in adjusted net losses in 2018, compared with $40.5m in the first nine months of 2017

Scorpio Bulkers Dry Bulk

Noble Group files recognition proceeding in US

Investors voted to ‘back the business and management team with significant new capital’ in September

Deutsche Bank ING

Blue Ocean Maritime delays London listing

Shipping fund had been targeting $250m through the issuance of 250m shares

Europe United Kingdom

The Lloyd’s List Podcast: What’s shaping shipping’s political agenda and how to plug the finance gap

Listen to the latest edition of Lloyd’s List’s weekly podcast — your weekly briefing on the stories shaping shipping in the week ahead

International IMO

Survey finds legislation must keep up with technology

Survey of 10 countries found that most have some form of legislation covering electronic contracts

 

International Technology and Innovation

Keppel replenishes orderbook with LNG projects as contracts start to come in

The orderbook is also recovering, with value of year-to-date new contracts already surpassing the total amount for 2017

Singapore Shipbuilding
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Latest From Insurance

Charles Taylor will combine Strike Club and Standard Club

Strike Club will continue as a member-controlled dedicated mutual delay insurer, operating as class of Standard Club and supervised by existing board

Europe United Kingdom

Hong Kong sets out incentives to boost maritime services

The ship leasing, and marine and specialty risk insurance businesses have been targeted for tax incentives especially

Hong Kong Specialty

The American Club will not cover non-compliance fines

Exceptions are highly unlikely and might only be possible in the case of ‘egregious mistreatment’

Insurance Regulation

Hull rates hardening in Asia too, says Chandan

IUMI committee chair is confident marine insurers will be able to handle any sulphur cap hiccups

Asia Pacific Singapore

Hurricane heads for Florida's west coast

Rough surf, gusty winds and heavy rain expected along the US Gulf coast from Tuesday

North America United States

North hires McLoughlin from Marsh

New man set to work across mutual’s regional teams in first instance, while Eccleston switches to Greece and Hustler heads for Singapore

Europe United Kingdom
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Latest From Law

Overstaying cargo also a risk, Clyde & Co warns squabbling traders

Detention and demurrage charges can quickly add up and the situation could be exacerbated in the case of lower value cargo

China United States

Seafarer survey highlights criminalisation concerns

Nautilus International surveyed more than 500 seafarers as part of its investigation and will file a report on its findings, including advice for seafarers faced with prosecution

International People

Clyde & Co boosts Hong Kong office with dispute resolution specialist

Christopher Jobson is a prominent marine and dispute resolution partner and returns to the firm’s Hong Kong office which he first joined in 1990.

Hong Kong China

Hong Kong sets out incentives to boost maritime services

The ship leasing, and marine and specialty risk insurance businesses have been targeted for tax incentives especially

Hong Kong Specialty

Court of Appeal dismisses Evergreen case

Parties involved in 2015 incident are now considering any further legal moves after two vessels were left with hefty repair bills

Europe United Kingdom

UK exporters can expect customs intervention if Brexit means Brexit

Failure to comply with rules could result in delay, additional costs, legal action, or confiscation or destruction of goods

Europe EU
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Latest From Regulation

Wärtsilä driven by equipment sales in third quarter as scrubber demand rises

Current order book for 2018 made up mainly of equipment deliveries

Europe Wartsila

US steps in to back experience-building phase after 2020

Data-gathering proposal by the biggest flag states and shipping associations handed huge boost as US throws its weight behind an experience building phase

United States IMO

IMO agrees next step in greenhouse gas strategy

The IMO has approved a programme to develop GHG reduction measures until 2023 under a three-pronged approach

IMO Environment

IMO needs to prove it can be trusted over 2020, says Lim

IMO secretary-general Kitack Lim acknowledges sulphur cap safety concerns but warns the challenge is consistent implementation of the rules

IMO Political and Trade

Bulkers without scrubbers ‘will become uncompetitive’

A two-tier market will reward early adopters with higher time charter rates and asset values as cost of low sulphur fuel increases dramatically, MSI has claimed
International Dry Bulk

The Lloyd’s List Podcast: What’s shaping shipping’s political agenda and how to plug the finance gap

Listen to the latest edition of Lloyd’s List’s weekly podcast — your weekly briefing on the stories shaping shipping in the week ahead

International IMO
See All

Latest From Casualty

The American Club will not cover non-compliance fines

Exceptions are highly unlikely and might only be possible in the case of ‘egregious mistreatment’

Insurance Regulation

Vessel collision leads to fuel spill in Mediterranean

There have been no reported injuries or deaths from the collision of a 5,018 teu containership and 5, 250 dwt ferry north of Corsica on early Sunday morning

France Italy

Maersk amends dangerous cargo stowage rule in wake of Honam

Maersk evaluated 3,000 United Nations hazardous materials classification numbers to produce its new set of stowage guidelines 

Europe Denmark

Collaboration on casualty reports is key to avoiding future accidents, says IMO

International Maritime Organization’s secretary-general Kitack Lim says the key to avoiding future incidents is ‘better co-operation and collaboration’

Casualty Regulation

Tanzania ferry death toll rises to 224

The vessel’s managers were detained after a preliminary investigation report claimed the vessel had more people than it should on board

Tanzania Casualty

Bulker crew kidnapped off Nigeria

Assailants boarded the Massoel Shipping-owned vessel around 45 miles off Bony early on Saturday
Nigeria Casualty
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Latest From Piracy and Security

Merchant ship’s guards fight off Somalia attack

The gang appear to have aborted the attack after armed security personnel on board the merchant vessel returned fire

Somalia Piracy and Security

Piracy and sea crime in Asia hit a 10-year low

Number of actual incidents drops to 50 between January and September but total number of incidents, including attempts, climbs to 64

Asia Pacific Piracy and Security

Viewpoint: Building resilience

Navies of the world are said to spend as much on cyber defence as they do on ship structures and weaponry, while commercial shipping remains in a very different league

Viewpoint International

Hull rates hardening in Asia too, says Chandan

IUMI committee chair is confident marine insurers will be able to handle any sulphur cap hiccups

Asia Pacific Singapore

International Maritime Bureau founder Eric Ellen dies at 88

Eric Ellen recognised the need for a co-ordinated global effort in order to tackle crimes against shipping

Europe Asia Pacific

Cyber theft and energy costs top shipping industry’s list of concerns

Cyber attacks and data theft are now the maritime industry’s Achilles’ heel, according to the Global Maritime Forum

International Insurance
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Latest From Ports and Logistics

Overstaying cargo also a risk, Clyde & Co warns squabbling traders

Detention and demurrage charges can quickly add up and the situation could be exacerbated in the case of lower value cargo

China United States

President Xi opens Hong Kong-Zhuhai-Macao Bridge

Bridge is expected to provide an alternative to the current barging services that connect Hong Kong’s port with the Pearl River Delta

Asia Pacific Containers

US supply chain company acquires INTTRA

Deal to take over online freight booker will give INTTRA’s carrier and freight forwarder customers visibility of supply chain requirements

North America United States

Transpacific rates driven by capacity cuts rather than demand

Little evidence of cargo front-loading on transpacific ahead of tariff rises, but fourth quarter could still give room for growth

Asia Pacific North America

Abu Dhabi Ports partners MSC for blockchain pilot project

The system was developed internally, compared to others who have pulled in major IT partners

Middle East and Africa United Arab Emirates

Seattle and Tacoma see progress on federal funding for dredging projects

The bill authorises the design and construction to deepen Seattle’s East and West Waterways, $29m in matching federal funds to complete the work, and expedited completion of a $3m study to dredge Tacoma's Blair and Sitcum waterways

North America United States
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Latest From Environment

Wärtsilä driven by equipment sales in third quarter as scrubber demand rises

Current order book for 2018 made up mainly of equipment deliveries

Europe Wartsila

US steps in to back experience-building phase after 2020

Data-gathering proposal by the biggest flag states and shipping associations handed huge boost as US throws its weight behind an experience building phase

United States IMO

IMO agrees next step in greenhouse gas strategy

The IMO has approved a programme to develop GHG reduction measures until 2023 under a three-pronged approach

IMO Environment

ENN orders LNG bunkers ship at Dalian Shipbuilding

Deal comes two months after government in Beijing made a proposal to promote the use of liquefied natural gas as marine fuel and to establish LNG bunkering centres in China

Asia Pacific Containers

IMO needs to prove it can be trusted over 2020, says Lim

IMO secretary-general Kitack Lim acknowledges sulphur cap safety concerns but warns the challenge is consistent implementation of the rules

IMO Political and Trade

The Lloyd’s List Podcast: What’s shaping shipping’s political agenda and how to plug the finance gap

Listen to the latest edition of Lloyd’s List’s weekly podcast — your weekly briefing on the stories shaping shipping in the week ahead

International IMO
See All

Latest From Safety

South Asia claims 70% of scrapping market in the third quarter

Bangladesh led the major shipbreaking nations with 35 recycling projects in the quarter, while China scrapped just one ship, according to Brussels-based NGO Shipbreaking Platform

Asia Pacific Ship Recycling

Last Word: Giving voice to the voiceless

The happiest crews are those who get paid in full and on time, have good food and access to a gym and the internet, according to interviews with seafarers

Crewing People

MOL launches vessel data collection to boost performance

The container carrier is partnering with Mitsui E&S Shipbuilding and Weathernews to develop condition based maintenance applications

Containers Technology and Innovation

Piracy and sea crime in Asia hit a 10-year low

Number of actual incidents drops to 50 between January and September but total number of incidents, including attempts, climbs to 64

Asia Pacific Piracy and Security

Minister pays tribute to Greek coast guard officer

Kyriakos Papadopoulos, who died this week, has been credited with leading missions to rescue more than 5,000 people during the refugee crisis in the eastern Mediterranean

Greece People

Ports of Pensacola and Panama City closed ahead of Hurricane Michael

Michael has maximum sustained winds of around 145 mph

North America United States
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Latest From Shipbuilding

Shortage of LNG vessels creates uncertainty for natural gas markets, says IEA

LNG shipping demand is forecast to overtake supply in 2023, unless new orders are placed in coming months
Tankers and Gas Shipbuilding

AVIC ponders disposal of shipping-related business

Company’s trading and logistics business, which includes ship and mechatronics engineering operation, posted a segment loss of Yuan472.7m in the past year

Asia Pacific Ship operations

Cargill aims to charter 25 clean tankers by 2020

Cargill, which is most closely associated with grains and other dry bulk commodities, is pursuing a build-up in tanker operations

Tankers and Gas Shipbuilding

Keppel replenishes orderbook with LNG projects as contracts start to come in

The orderbook is also recovering, with value of year-to-date new contracts already surpassing the total amount for 2017

Singapore Shipbuilding

Yard Talk | State advances, private sector retreats

Its recent partnership with Mitsui to build large LNG carriers is an opportunity for Yangzijiang to once again demonstrate that it can do a better job than its state-owned peers

Asia Pacific Dry Bulk

Fincantieri wins new $2.3bn vessels order from MSC

Agreement will see four 64,000 gt ultra luxury cruiseships being delivered from 2023

Italy Switzerland
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Latest From Technology and Innovation

Wärtsilä driven by equipment sales in third quarter as scrubber demand rises

Current order book for 2018 made up mainly of equipment deliveries

Europe Wartsila

The Interview: Alexander Panagopulos

Innovation is in shipping veteran's genes, with his latest project developing vessels that make LNG credible as a fuel for tramp dry bulk and tanker shipping
Big Interview Europe

Survey finds legislation must keep up with technology

Survey of 10 countries found that most have some form of legislation covering electronic contracts

 

International Technology and Innovation

The path to shipping’s digital era will be taken with baby steps

Though the technology is available, implementation will be piecemeal, with regulation to follow

Technology and Innovation Digitalisation

Viewpoint: Scrubbing up nicely

BIMCO, along with paint and coating manufacturers, ship operators and companies engaged in hull cleaning hope that by the autumn of 2019 a standard for the underwater cleaning of ships’ hulls that is safe, efficient and environmentally sustainable will be in place

International Ship repair

Marshall Islands joins call for greenhouse gas emission cuts by 2023

The Marshall Islands, the Solomon Islands and Belgium call for international measures to achieve greenhouse gas emissions reductions before 2023

Marshall Islands IMO
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Latest From Sale and Purchase

Cargill aims to charter 25 clean tankers by 2020

Cargill, which is most closely associated with grains and other dry bulk commodities, is pursuing a build-up in tanker operations

Tankers and Gas Shipbuilding

JP Morgan sees dry bulk peak in 2020

Earnings on the biggest bulkers should continue to rise through to 2020 before dropping off, a report by JP Morgan shows

Dry Bulk International

Seanergy goes all-in on capesize vessels

Seanergy says it plans to grow its presence in the capesize market, which it believes has the best fundamentals in the dry bulk industry

North America United States

Attica Group makes profit after vessel sales

Ferries owner saw first half of the year revenues rise following acquisition of Hellenic Seaways, but this positive position was partly cancelled out by higher fuel costs

Europe Greece

Zodiac emerges as winner of Toisa tanker six-pack

Ofer-led shipowner has tendered the winning offer , said to be about $280m, for the six newbuilding tankers put up for sale in the Callimanopulos fleet bankruptcy

Europe Greece

Asia-Europe trade feels strain amid Brexit and carriers’ vessel ordering spree

Weakening import demand from the UK and Germany, coupled with fast-growing ultra-large tonnage supply, overshadows Asia-Europe trade prospects

Asia Pacific Containers
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