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Latest From Finance

Deutsche Bank sells $1bn ship loan portfolio

The deal is part of a move by Deutsche Bank to draw a line under sour investments in the sector and to start a fresh push in transport lending

Europe Deutsche Bank

Nordea head of shipping Kjelsrud to join rival SEB

Big name in ship finance will make the switch at the start of next year

Europe Norway

Navios Containers to buy up to 9 ships for $390m, files for IPO

The owner has agreed to buy 5 ships which are expected to be delivered in the third quarter and has options to buy 4 more ships. When the 5 vessels are delivered in the third quarter, Navios Containers will control 30 vessels totaling 166,388 teu with an average age of 9.8 years


Europe North America

Dorian rejects BW LPG’s merger proposal, citing undervaluation

Update: BW LPG says it receives positive feedback from “a significant percentage of Dorian’s shareholder base”

Europe Greece

Schulte to launch $120m ship fund

The fund takes a conservative leverage approach and intends to distribute dividends regularly

International Finance

Rolls-Royce restructure will not see jobs cut from marine unit

Rolls-Royce is cutting 10% of its workforce but none of the job losses will hit the marine business, which has already been earmarked for possible disposal in the push to trim expenses

Europe United Kingdom
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Latest From Insurance

Blockchain-based marine insurance platform tries to recruit users

Blockchain platform Insurwave claims to streamline processes, but it needs more participants to come on board to see whether it works properly

Technology and Innovation Insurance

‘Political monster’ casualties more expensive because of unlimited liability

Marine mutual holds annual general meeting in Gothenburg today

Europe Sweden

Integro finalises Tysers acquisition

Move follows private equity backed merger of SSL and Endeavour

Europe London

London Club sees combined ratio hit 119%

Big rise in net incurred claims to blame, says Gooch

Europe Åland Islands

American Hellenic says April was its best underwriting month so far

Company's insured fleet rose by 43% in the 12 months to end-April, reaching a total of 2,200 vessels

Insurance Cyprus

ITIC pays out after shipbroker bungle caused loss to charterer

Marine mutual made reimbursement for additional freight

Europe London
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Latest From Law

CSIC executive under anti-graft investigation

China’s top anti-corruption agency, Central Commission for Discipline Inspection, is investigating the executive

Asia Pacific China

No good deed goes unpunished for Aegean Marine activists

Beware of the smartest people in the room for they do not know more than you do

Europe North America

Seatrade made a scapegoat in EU scrapping verdict

A Dutch court ruled earlier this year that Seatrade violated EU waste laws with the ‘intention’ of scrapping four vessels

Europe Belgium

Former OW Bunker manager jailed for 18 months

OW Singapore subsidiary manager Lars Moller was handed the prison term for a breach in granting a $125.1m credit to a Singaporean company

Denmark Law

Inchcape: The price of innocence

Inchcape Shipping now plans to focus on its core activities aimed at reducing customers’ voyage costs

Europe United Kingdom

Inchcape settles ‘overcharging’ case brought by US government

Executive chairman Simon Morse was brought back in early 2017 with a remit to reach a settlement on accusations by the US government that the company had `violated the False Claims Act by knowingly overbilling the US Navy'

Europe North America
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Latest From Regulation

China may have to reverse coal restrictions

Supply chain challenges means that the country would have to increase imports to meet its peak season demand

Asia Pacific China

IMO reform push recruits leading flag states

Australia’s push for reform of the IMO has been boosted by the support of Liberia and the Bahamas, which are the world’s third and seventh-largest flag states respectively

IMO Political and Trade

ESC condemns emergency bunker surcharges as price signalling

A complaint has been made by the European Shippers’ Council competition commissioner about emergency bunker charges

Europe Containers

Brussels calls for input on consortia block exemption

The European Commission will hold hearings in the third quarter of the year ahead of a decision on whether to extend consortia rules

Europe Containers

Viewpoint: Buying bio-safety

If the Australians guaranteed that box charges would be hypothecated to quarantine services, perhaps there would be less resentment of the levy

International Asia Pacific

Face-off over sulphur cap is turning ugly

With just 18 months until the sulphur cap goes live, shipowners have issued a challenge to IMO. Who will blink first?

International IMO
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Latest From Casualty

‘Political monster’ casualties more expensive because of unlimited liability

Marine mutual holds annual general meeting in Gothenburg today

Europe Sweden

Crew member killed in tanker explosion

Situation on board was under control and the rest of the crew was reported as safe

Asia Pacific Tankers and Gas

Intercargo: Name and shame accident investigation report laggards

A recent exclusive report by Lloyd’s List found that more than 50% of serious accident investigation reports have not been filed with the IMO

Europe Greece

Flag states failing to meet casualty reporting rules

More than half of accident investigation reports that are required to be submitted to the IMO for analysis have not been filed, according to research carried out by Lloyd’s List into very serious casualties that took place between January 2014 and March 2018

Casualty Safety

Maersk Honam containers released to customers

Containership casualty will go for repair following further evaluation

Middle East and Africa Maersk Group

Piracy in Somalia costs $1.4bn in 2017

Criminal networks in Somalia are still capable of sophisticated attacks, as spillover threats from the war in Yemen compound West Indian Ocean dangers, OBP reports

Middle East and Africa Somalia
See All

Latest From Piracy and Security

ICS’s Hinchliffe targets European migration strategy

NGO vessel at the centre of migrant furore is sailing north of Sardinia having encountered heavy weather overnight and is expected to dock at the Spanish port of Valencia on Sunday

Europe Middle East and Africa

Maritime still ambivalent about new technology

Lack of in-house skills and industry knowledge has been identified by a major new survey of attitudes to Internet of Things technology

International Containers

ForestWave says abducted crew off Nigeria have been released

Eleven crew members aboard the general cargo carrier FWN Rapide have been released a month after pirates attacked the vessel off Nigeria 

Piracy and Security Nigeria

Supreme Court decision clarifies drug and contraband risk

Suitable policies available at modest cost, Moore insists

South America Venezuela

Piracy in Somalia costs $1.4bn in 2017

Criminal networks in Somalia are still capable of sophisticated attacks, as spillover threats from the war in Yemen compound West Indian Ocean dangers, OBP reports

Middle East and Africa Somalia

Russia restricts import of dangerous goods for the next two months

The security measure will apply to all, including cargo terminals and bunker suppliers

Europe Russian Federation
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Latest From Ports and Logistics

Asia Pacific port infrastructure innovation to be recognised at Lloyd’s List Awards

Lloyd’s List has introduced the Port Infrastructure Development of the Year award to reflect the abundance of such projects underway in the Asia Pacific region. Port development in the region is expanding rapidly as One Belt, One Road accelerates and creates a ripple effect of project spending

Asia Pacific Lloyds List Awards

ESC condemns emergency bunker surcharges as price signalling

A complaint has been made by the European Shippers’ Council competition commissioner about emergency bunker charges

Europe Containers

Rising fuel costs hurting US shippers on land and at sea

Surging cost of hinterland connections from ports is increasingly being reflected in ‘all-in’ ocean freight transpacific contracts

United States

E-commerce vital to future logistics profits

Changing distribution model requires infrastructure changes

International Containers

Carrier reliability: A day late and a dollar short

Efforts by Maersk and MSC to improve schedule reliability are to be applauded and can come none too soon for shippers

International Maersk Group

APL extends guaranteed service to Europe

Priority access to slots and equipment will be extended to destination ports in Europe

Asia Pacific Europe
See All

Latest From Environment

Face-off over sulphur cap is turning ugly

With just 18 months until the sulphur cap goes live, shipowners have issued a challenge to IMO. Who will blink first?

International IMO

Petros Pappas orders 22 scrubbers for Star Bulk capesize fleet

Installation of 22 open-loop scrubbers targeted during first half of 2019

Europe North America

Sulphur cap will drive operators out of business, MOL's Ikeda says

Customers must understand that the cap is contributing to the health of the globe, says Ikeda, and the extra cost if passed on to customers would be ‘pretty tiny, compared to the value of the cargo’

International Asia Pacific

MSC boxships slow down as chief executive Diego Aponte overhauls network

MSC Group president and chief executive Diego Aponte says mega ships are contributing to unreliable services as he seeks agreement from 2M partner Maersk to adjust schedules in their joint east-west network

Europe Switzerland

OSM plans online management procurement platform

OSM chief commercial officer explains why scale does not necessarily often a competitive advantage in this consolidation era

Europe Greece

Viewpoint: The long view on shortsea

A strategy to get cargo afloat would be something more substantial than bureaucratic demands on ports and shipping for environmental plans

Europe United Kingdom
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Latest From Safety

Rescue vessel docks in Spain as Italy blocks two more ships carrying migrants

Row has reignited calls for asylum processing centres in country of origin
Spain Italy

ICS’s Hinchliffe targets European migration strategy

NGO vessel at the centre of migrant furore is sailing north of Sardinia having encountered heavy weather overnight and is expected to dock at the Spanish port of Valencia on Sunday

Europe Middle East and Africa

The Lloyds List Podcast: Migrant Crisis

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

Viewpoint: Buying bio-safety

If the Australians guaranteed that box charges would be hypothecated to quarantine services, perhaps there would be less resentment of the levy

International Asia Pacific

Politics puts lives at risk in European waters

Lloyd’s List backs calls by the International Chamber of Shipping for all EU member states to ensure the policy of prompt and predictable disembarkation — consistent with UNHCR principles — can be fully maintained

Safety Italy

BIMCO backs anti-corruption drive

The Maritime Anti-Corruption Network asked IMO member states to crack down on corruption at the June 5-8 Facilitation Committee

United Kingdom Safety
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Latest From Shipbuilding

NYK orders new ship for coal transport

The 98,500 dwt vessel is due for delivery in the first quarter of 2021

Asia Pacific Japan

Mitsui E&S denies ordering halt at Chiba yard

Shipbuilder says report that its Chiba shipyard plans to quit commercial shipbuilding is wide of the mark

Asia Pacific Tankers and Gas

HHI delays IRISL newbuilds amid sanction fears

Newbuildings expected to be delivered in the second quarter of this year remain on the orderbook

Asia Pacific Middle East and Africa

Alpha Gas order helps DSME hit $3bn in new contracts

Yard official says shipowners’ trust has recovered with DSME’s improved financial conditions and confirmed top management

Asia Pacific Europe

Japan puts WTO action over South Korea ‘yard doping’ on hold

Scaled-back diplomatic strategy towards South Korea comes as Japan tries to charm China into joining the negotiating table at the OECD

China Japan

Waigaoqiao Shipbuilding sells Shenghui Equipment

Sale will bring about Yuan20.8m net gains to SWS’s parent CSSC Holdings facing delisting risks 
Asia Pacific Finance
See All

Latest From Technology and Innovation

The Interview: Arjun Batra

Aside from being Drewry’s managing director, the well-respected veteran has also been an entrepreneur in shipping for decades. His advice to interested investors: put money into human capital, not physical assets

International Big Interview

Asia Pacific port infrastructure innovation to be recognised at Lloyd’s List Awards

Lloyd’s List has introduced the Port Infrastructure Development of the Year award to reflect the abundance of such projects underway in the Asia Pacific region. Port development in the region is expanding rapidly as One Belt, One Road accelerates and creates a ripple effect of project spending

Asia Pacific Lloyds List Awards

Blockchain-based marine insurance platform tries to recruit users

Blockchain platform Insurwave claims to streamline processes, but it needs more participants to come on board to see whether it works properly

Technology and Innovation Insurance

OSM plans online management procurement platform

OSM chief commercial officer explains why scale does not necessarily often a competitive advantage in this consolidation era

Europe Greece

Greek owners pushing envelope on cyber security

DNV GL reveals that a lot of its cyber security research resulted from requests by Greek owners

Greece Posidonia

Bulkers and containerships dominate scrubber uptake

DNV GL expert warns of significant waiting time for scrubber installations

Greece Posidonia
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Latest From Sale and Purchase

Navios Containers to buy up to 9 ships for $390m, files for IPO

The owner has agreed to buy 5 ships which are expected to be delivered in the third quarter and has options to buy 4 more ships. When the 5 vessels are delivered in the third quarter, Navios Containers will control 30 vessels totaling 166,388 teu with an average age of 9.8 years


Europe North America

NYK orders new ship for coal transport

The 98,500 dwt vessel is due for delivery in the first quarter of 2021

Asia Pacific Japan

International Seaways closes six-VLCC deal with Euronav

Acquisition solidifies International Seaways' position in the middle-tier of publicly traded tanker companies in the US

North America Tankers and Gas

MPC raises $50m for further fleet expansion

Private placement raises funds as owner sells 7.25m shares

Europe Containers

Euronav sells 20-year-old suezmax

Belgium-based company will record a gain of $10.6m in the second quarter from the sale

Europe Belgium

Nordic American Tankers sells more suezmaxes

US-based suezmax owner says the sale of all five vessels amounts to almost $50m

Tankers and Gas Sale and Purchase
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