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Sectors

Latest From Finance

Keppel offloads jack-up to Grupo R with $179m sale-and-leaseback deal

Grupo R also has the right to purchase the rig during the five-year charter period, although the pre-agreed sale price was not disclosed

Asia Pacific South America

Golden Ocean sees short-term negative dry bulk sentiment

The missing volumes from Brazil are likely to be replaced by Canada, Australia and other smaller producers, according to Golden Ocean

International Norway

Hapag-Lloyd gets ratings upgrade from Moody's

Paying down debt levels and expectation of steady performance win debt upgrade for German line

Europe Germany

MOL takes a strategic stake in Dutch chemical logistics firm

Following the acquisition, the alliance will jointly develop and streamline liquid chemical logistics services using tank containers, parcel chemical tankers and a tank terminal

International Netherlands

Diana sells two panamaxes to affiliated parties

Disposals should be seen in context of strategy to phase out older tonnage and repurchase stock ‘at a discount’

North America Europe

Epic Gas upbeat about market prospects

Epic Gas notes there are only five newbuilding vessels scheduled to be delivered in 2019 and five more in 2020, representing a 1.4% increase in existing fleet capacity

Singapore Tankers and Gas
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Latest From Insurance

Steamship Mutual’s Rotterdam subsidiary ‘not done deal’ just weeks before Brexit, Rynsard admits

Meanwhile, Standard Ireland up and running since January and already writing 40% of Standard’s business, according to Robert Drummond, soon to be managing director of Dublin outpost

Europe United Kingdom

Gard and North claim gains as P&I renewal round closes

Gard grew in most geographical areas, while North topped the 200m gt mark for the first time ever.

Europe Norway

P&I leaders forecast rate rises after quiet renewal season

‘We are looking at renewing a similar amount of tonnage to what we had 12 months ago. A small amount of poorly performing business is being managed out of the club, and we are welcoming a few new members in,’ said Mark Collins of Standard Club

International Europe

Guardian Navigation switches to Skuld

The 2019 P&I renewal round has been described as ‘the most boring renewal season ever’ by one P&I club chief executive

International Insurance

P&I clubs refuse to collect German insurance premium tax

In 2013, there was even a threat to treat income pooling arrangements as de facto insurance schemes, thus leaving charter income subject to the impost and threatening to kill up to 1,000 KG companies. But the industry’s collective political clout proved sufficient to waylay that threat

Europe Germany

What next for Lloyd’s marine insurance?

While underwriters have been heard to talk tough before, diminished capacity may mean that this time round they can make higher premiums stick. Indeed, a consensus seems to be emerging that they may represent the only way forward

London United Kingdom
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Latest From Law

Greek shipowner rejects union’s ‘starving crew’ claim

The Greek owner of the vessel vehemently denies allegations and plans to take legal action against the ITF

Australia Dry Bulk

Registries criticised for Aquarius de-flagging

Human Rights at Sea report argues that ship registries submitted to political pressure when delisting the rescue vessel

Gibraltar Italy

US Customs officers in LA seize two tons of drugs bound for Australia

The shipment, valued at $1.3bn, had been loaded into two containers that were being trucked through Los Angeles 

Australia North America

Eastern Pacific tanker released by militia in Cameroon

The tanker had been captured by a local charterer and an armed militia at the Sonara refinery in Cameroon

Cameroon Crewing

American Club urges caution over Venezuela sanctions

The club is still in the midst of looking into all the ramifications, said chief compliance officer Charles Cuccia

North America United States

Greek owner warns of sub-participation upsets in shipping loans

UK law offers scant protection against ‘abuse’ of lender-borrower relationship norms, claims owner fighting bulker arrest

Europe Greece
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Latest From Regulation

Scrubber lobby lashes out at European Commission criticism over open-loop scrubbers

Scrubber lobbying group the Clean Shipping Alliance has doubled down on its arguments against the European Commission, saying that it is ‘needlessly creating baseless concerns’ about the technology

Political Risk and Trade Regulation

IMO calls for more pollution research on open-loop scrubbers

Most countries agree that more studies on the contentious technology are needed, but some delegations have decried what they argue is ‘unfortunate’ timing

IMO Environment

Panama-backed study adds to open-loop scrubbers concern

MIT researchers raise concern over scrubbers’ efficiency at removing particulates in review of previous studies 

International Environment

‘Smarter’ ports can help cut emissions

Better communication through new technologies can help ports meet GHG targets, says IMO

International Containers

Clock is ticking towards sulphur cap, IMO head warns

Lim also warns regulators that there may be increased risk of HFO spills in the Arctic

International IMO

Japan rejects ban on open-loop scrubbers

A recent study undertaken in Japan has found that open-loop scrubbers had what was deemed no ‘unacceptable’ effect on the ocean or its organisms

Japan Bunkers
See All

Latest From Casualty

Bangladesh ship scrapyard blast kills two

This is the second incident reported in a Bangladeshi scrapyard in less than a year

Bangladesh Casualty

Communication failures behind MSC Flaminia casualty

Judgment on liability for explosion and fire points to shipper’s failure to warn of dangerous condition of cargo ahead of voyage

North America United States

Yantian Express cargo recovery makes further progress

Hapag-Lloyd says significant headway has been made in recovering cargoes

Europe Bahamas

Johor Strait collision revives old disagreement between Singapore and Malaysia

The narrow stretch of water between the two countries has been the source of dispute for many years

Asia Pacific Singapore

Intercargo: Liquefaction still a major risk for dry bulk

No loss of life or ship from liquefaction reported in 2018, but the preceding decade saw more than 100 lives likely lost due to cargo failure

International Dry Bulk

Vale production cuts to shake up trade flows

The 40m tonnes of iron ore pulled out by Vale would result in a 4.7% decline in iron ore tonne-miles and 1.3% drop in total dry bulk tonne-miles, JP Morgan analyst Noah Parquette said

Brazil Dry Bulk
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Latest From Piracy and Security

UN Security Council turns spotlight on maritime crime

The UN security council hears that piracy has become more sophisticated and threatens life on land

Piracy and Security Safety

Three crew abducted off Nigeria

The reported attack on the landing craft happened about 135 nautical miles southwest of Brass

Nigeria Piracy and Security

Eastern Pacific Shipping tanker seized at Cameroon refinery

There are 26 crew of different nationalities onboard the vessel, with Eastern Pacific saying their safety is its paramount concern

Middle East and Africa Tankers and Gas

MSC crew freed after Gulf of Guinea ordeal

Kidnapped crew members returned home after a month in captivity

Europe Middle East and Africa

Viewpoint: Pirates’ progress

A lethal form of piracy that threatens extreme violence against seafarers, rather than the seizure of ships, is becoming commonplace in the Gulf of Guinea

Middle East and Africa Guinea

MSC feels impact of Mexico's crackdown on gasoline theft

Thieves siphoning off about 150,000 barrels per day of gasoline from pipelines are costing national oil company Pemex more than $3bn a year in lost revenue, according to the government

North America Mexico
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Latest From Ports and Logistics

Ports sector failing to take cybersecurity seriously

As dangers increase, experts warn it will take a major incident before the ports sector takes steps to protect itself

International Containers

Ports warned to mind the supply-chain skills gap

‘There is a gap of understanding and a gap of skills,’ according to Royal Haskoning DHV director Kris Kosmala

Ports and Logistics

Tilbury2 passes final hurdle

Consent comes through just weeks before construction is due to start on the multi-million pound port project

Europe United Kingdom

Shippers eye Liverpool as alternative to congested southern UK hubs

Shippers in the northwest of the UK would prefer a local gateway if Asia services called at Liverpool

Europe United Kingdom

DP World acquires P&O Ferries for $421m

The acquisition is expected to be earnings accretive from the first full year of consolidation and is expected to meet DP World’s return targets

Europe DP World

Shanghai and Zhejiang to co-develop new port in Yangshan

The new box terminal is designed to handle feeder ships and barges, especially those from the Yangtze River, which runs through one of China’s richest hinterlands

Asia Pacific China
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Latest From Environment

Scrubber lobby lashes out at European Commission criticism over open-loop scrubbers

Scrubber lobbying group the Clean Shipping Alliance has doubled down on its arguments against the European Commission, saying that it is ‘needlessly creating baseless concerns’ about the technology

Political Risk and Trade Regulation

IMO calls for more pollution research on open-loop scrubbers

Most countries agree that more studies on the contentious technology are needed, but some delegations have decried what they argue is ‘unfortunate’ timing

IMO Environment

Panama-backed study adds to open-loop scrubbers concern

MIT researchers raise concern over scrubbers’ efficiency at removing particulates in review of previous studies 

International Environment

‘Smarter’ ports can help cut emissions

Better communication through new technologies can help ports meet GHG targets, says IMO

International Containers

Clock is ticking towards sulphur cap, IMO head warns

Lim also warns regulators that there may be increased risk of HFO spills in the Arctic

International IMO

Japan rejects ban on open-loop scrubbers

A recent study undertaken in Japan has found that open-loop scrubbers had what was deemed no ‘unacceptable’ effect on the ocean or its organisms

Japan Bunkers
See All

Latest From Safety

Bangladesh ship scrapyard blast kills two

This is the second incident reported in a Bangladeshi scrapyard in less than a year

Bangladesh Casualty

Communication failures behind MSC Flaminia casualty

Judgment on liability for explosion and fire points to shipper’s failure to warn of dangerous condition of cargo ahead of voyage

North America United States

Viewpoint: A flag for your convenience

Cost — above all — is what is driving how companies are making the decision upon which they pick a flag authority with whom to register their ship

International United Kingdom

Registries criticised for Aquarius de-flagging

Human Rights at Sea report argues that ship registries submitted to political pressure when delisting the rescue vessel

Gibraltar Italy

UK braced for EU safety programmes exit

With a no-deal Brexit in sight, the UK faces having to exit from certain European Union maritime safety programmes

EU United Kingdom

Yvonne Tsanos appointed director of Epsco

Oesterreichischer Lloyd executive joins Cyprus-based safety services and equipment group

Europe Cyprus
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Latest From Shipbuilding

MOL set to seal LNG bunker vessel charter deal with Singapore's Pavilion Energy

The vessel will also be the biggest of its type to be used for LNG bunkering in Singapore port waters

Singapore CMA CGM

Samsung Heavy clinches $775m LNG newbuild quartet

Orders will help SHI to meet its 2019 order target set at $7.8bn as it expects strong demand for new LNG carriers

Asia Pacific Tankers and Gas

SembMarine developing new LNG bunker vessel designs

Yard group has also won $118m worth of orders for ballast water management systems and scrubber retrofits

Asia Pacific Singapore

Keppel offloads jack-up to Grupo R with $179m sale-and-leaseback deal

Grupo R also has the right to purchase the rig during the five-year charter period, although the pre-agreed sale price was not disclosed

Asia Pacific South America

Yard Talk | Impact of Korean shipbuilding merger on LNG newbuild prices

Unlike established ship types, the large LNG carriers have a fairly big potential for further depreciation with the maturing of building techniques and yard experience

International Asia Pacific

Wan Hai drops optional quartet at Wenchong Shipyard

Taiwanese carrier does not elaborate on the reasons for not exercising the option

Asia Pacific Taiwan
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Latest From Technology and Innovation

Ports sector failing to take cybersecurity seriously

As dangers increase, experts warn it will take a major incident before the ports sector takes steps to protect itself

International Containers

IMO calls for more pollution research on open-loop scrubbers

Most countries agree that more studies on the contentious technology are needed, but some delegations have decried what they argue is ‘unfortunate’ timing

IMO Environment

‘Smarter’ ports can help cut emissions

Better communication through new technologies can help ports meet GHG targets, says IMO

International Containers

Ports welcome European Maritime Single Window agreement

Shipowner and port lobbies support EU agreement on harmonised reporting roles for the bloc’s ports
EU Political and Trade

NYK to integrate research units

Japanese shipping giant is to integrate the management resources of each company to increase efficiencies and create value

Asia Pacific Dry Bulk

Port of Tanjung Pelepas upgrades administrative systems

“Given the pace at which technological advancements are changing the world, it is imperative for PTP to remain competitive and attractive, said chief executive officer Marco Neelsen
Malaysia Ports and Logistics
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Latest From Sale and Purchase

Diana sells two panamaxes to affiliated parties

Disposals should be seen in context of strategy to phase out older tonnage and repurchase stock ‘at a discount’

North America Europe

Ardmore sells tankers amid rising losses

The US-listed company expects a sustained upturn as a result of low fleet growth and a projected higher demand for product tankers ahead of the switch to low-sulphur fuels in 2020

Tankers and Gas Sale and Purchase

Fleet fundamentals support feedermax values

The lower cost of secondhand tonnage and rising demand means feedermax vessels could make a smart asset play

International Containers

Marinakis-Schulz venture acquires first boxships

Germany-based Capital Liberty Invest picks up two feeder vessels formerly in the Kalkavan fleet and is looking for further growth

Europe Germany

Rally was too late for 2018 box freight rates

Despite some positive numbers for freight and charter rates during 2018, box shipping enters 2019 with little positive to look back on

International Containers

Eagle Bulk signs bulker deals

The vessels that have been sold had drydocking and ballast water treatment systems due to be installed, resulting in savings for the company of $2m

Dry Bulk Sale and Purchase
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