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Sectors

Latest From Finance

China escalates trade dispute with new tariffs on US goods

Beijing’s new tariffs on $75bn of goods imported from the US will increase tensions

Asia Pacific North America

New bunker derivative touted to bolster IMO 2020 hedge

Shipowners can start hedging their bunker bets against a new futures contract that will be priced against a weighted average of actual bunker trades as guided by pricing agency, Argus Media 

Singapore Bunkers

StealthGas acquires two LPG ships

The acquisition of the vessels, one a newbuilding and the other a 2007-built, 38,000 cu m fully refrigerated vessel, marks StealthGas’ entry into new vessel segments

International Tankers and Gas

VLGC market has adapted to the Sino-US trade spat, says Avance Gas

Middle East LPG exports in the second quarter came up to 8m tonnes, up by 200,000 tonnes compared to the first quarter of 2019

International Tankers and Gas

Okeanis eyes boost to winter tanker market from sulphur cap

The Oslo-listed tanker owner believes the necessary criteria are in place in the backdrop to enhance the VLCC recovery in the markets

VLCC Suez and Aframax

Topaz Energy reports revenue rise despite ‘challenging’ market

In the first half of the year, earnings before interest, taxes, depreciation and amortisation rose 83% to $141m from $77m

Offshore Finance
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Latest From Insurance

Check out Britain’s intellectual capital at London shipping week

LISW comes seven weeks before the UK leaves the European Union. How will that affect the country’s maritime sector? Where will the industry see gains and losses? How can shipping benefit from Brexit?

United Kingdom Classification

Swiss Re to drop London hull underwriting

‘In London, we will discontinue underwriting from November 1. The underwriting will all be done out of the Italian office,’ says Andrea Cupido

Europe International

USCG increases OPA90 penalties in line with inflation

Some specialist insurers have announced that insured vessels will automatically still be covered, at no additional premium, until policy renewal, with the new limit applying if it exceeds current policy limits

North America United States

Marine market firming across all classes, says Aon

Broker reports double-digit rate increases for marine cargo, ports and terminals and logistics classes

Specialty Marine

S&P revises outlook on London P&I Club to BBB negative

Marine mutual attributes development to new methodology at ratings agency and stresses its strong capital position and balance sheet

Insurance International

The Interview: Nick Shaw

Nick Shaw got the job as chief executive of the International Group after only the second employment interview of his life. Now that he taken over from the renowned Andrew Bardot, he tells Lloyd’s List what he plans to do in the role
International Insurance
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Latest From Law

The Lloyd's List Podcast: Iranian sanctions prove complicated for shipping...again

Adhering to sanctions can be a straightforward task for the shipping industry. But as a latest story involving P&I clubs and vessels carrying Iranian cargo shows that is not always the case.
Ship operations Regulation

Iran mulls release of Stena Bulk-owned tanker

Stena Impero, owned by Swedish company Stena Bulk, was captured by the Iranian Revolutionary Guard Corps on July 19

Sweden United Kingdom

Hong Kong court sells four more Brightoil tankers

Brightoil has recouped $201.6m from the disposal of three very large crude carriers and one aframax in June, and is expected to recover another $230m-$250m from the sale of the remainder of the fleet

Asia Pacific Tankers and Gas

Check out Britain’s intellectual capital at London shipping week

LISW comes seven weeks before the UK leaves the European Union. How will that affect the country’s maritime sector? Where will the industry see gains and losses? How can shipping benefit from Brexit?

United Kingdom Classification

Iran warns US not to seize freed tanker headed towards Greece

Tehran warns any attempt by the US to seize the Adrian Darya 1 — formerly Grace 1 — again will be met with ‘heavy consequences’

Middle East and Africa EU

OCIMF facing substantial damages in unfair dismissal case

‘I have reached the firm conclusion that the process which led to the removal of Captain Rashid’s accreditation was deeply flawed, wholly unfair on him and a serious breach of the principles of fairness and natural justice’ — Mr Justice Martin Spencer

International Law
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Latest From Regulation

China escalates trade dispute with new tariffs on US goods

Beijing’s new tariffs on $75bn of goods imported from the US will increase tensions

Asia Pacific North America

The Lloyd's List Podcast: Iranian sanctions prove complicated for shipping...again

Adhering to sanctions can be a straightforward task for the shipping industry. But as a latest story involving P&I clubs and vessels carrying Iranian cargo shows that is not always the case.
Ship operations Regulation

Keeping up with the neighbours as Singapore looks to IMO 2020

Singapore’s financial and support infrastructure for the bunkering industry is relatively more developed than its competitors’ but subtle shifts in trade patterns or arbitrage trading opportunities could change things

Asia Pacific Containers

Wallenius Wilhelmsen charged in cartel probe in Australia

Charges follow convictions of K Line and NYK for alleged cartel activity in Australia

Asia Pacific Australia

New bunker derivative touted to bolster IMO 2020 hedge

Shipowners can start hedging their bunker bets against a new futures contract that will be priced against a weighted average of actual bunker trades as guided by pricing agency, Argus Media 

Singapore Bunkers

New sulphur cap guidance issued by shipping sector

IBIA, IACS, IPIECA and CIMAC among the eight associations publishing the latest implementation guidance

International Fuels
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Latest From Casualty

Time to name and shame rogue shippers, says Drewry

A limited amount of information sharing could greatly enhance safety and reduce fraud, argues Drewry, with most shippers likely to welcome any measure that will help reduce the risk of delay or damage to their cargoes

International Containers

Kidnapped Turkish crew released

Nearly a month after 10 Turkish crew were abducted from the Turkish-flagged 8,928 dwt Paksoy 1 general cargo vessel off Nigeria the seafarers have been released unharmed

Asia Pacific Containers

APL containership catches fire off Indian coast

The were no reports of injuries to the crew and initial checks showed the vessel is stable. The vessel has diverted to Mundra, where it remains for investigations

Asia Pacific Containers

US Navy’s ‘lack of operational oversight’ behind 2017’s Singapore Strait collision

Safety recommendations suggesting new guidelines and revisions to operating procedures and manuals have been made in the wake of the accident

Asia Pacific Casualty

Indonesian shipyard accident kills four

The shipyard accident is the second involving gas poisoning in just over two months, following another in China at the end of May

Indonesia Casualty

One dead at Bangladeshi ship-recycling yard

NGO Shipbreaking Platform reports one worker died while helping to cut up a former Evergreen-owned containership

Bangladesh Ship operations
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Latest From Piracy and Security

Iran mulls release of Stena Bulk-owned tanker

Stena Impero, owned by Swedish company Stena Bulk, was captured by the Iranian Revolutionary Guard Corps on July 19

Sweden United Kingdom

Stena Impero owner meets Iran to urge release of tanker

LATEST: Sweden has received `very strong indications' that the Stena Impero is to be released soon, according to Swedish public service broadcaster SVT citing sources within Sweden’s foreign ministry.
Middle East and Africa Tankers and Gas

Iran warns Gulf security will be hit if exports totally cut off

Revolutionary Guards deputy commander reiterates that security in the Gulf is the responsibility of Iran and regional countries only
Middle East and Africa Tankers and Gas

Greece will not assist Iranian tanker, says minister

The US State Department maintains the tanker is assisting the Islamic Revolutionary Guard Corps by transporting oil to Syria

Europe Middle East and Africa

Freed tanker leased to Iranian shipping company

The US has issued a warrant to seize the vessel, formerly known as Grace 1, claiming it has links to Iran’s Revolutionary Guards, which it designates as a terrorist organisation

Middle East and Africa Iran

Australia joins US-led Strait of Hormuz coalition

Destabilising behaviour is a threat to Australia’s interests in the region, the Australian prime minister reiterates amid spate of attacks on international shipping in the region in recent months

 

Middle East and Africa Tankers and Gas
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Latest From Ports and Logistics

Keeping up with the neighbours as Singapore looks to IMO 2020

Singapore’s financial and support infrastructure for the bunkering industry is relatively more developed than its competitors’ but subtle shifts in trade patterns or arbitrage trading opportunities could change things

Asia Pacific Containers

The Interview: Rod Riseborough

After 40 years in the container shipping industry, including top management roles with carriers and a data provider, the recently retired chief executive of Container Trades Statistics knows the business inside out and is sceptical about the growth prospects of emerging economies. Instead, he is convinced that Europe and the US will remain the two big import markets that will continue to underpin the global box trades
Containers Ports and Logistics

New acquisitions, products and services help DP World to 22% first half profit rise

DP World also said its recent acquisitions are performing in line with expectations, with Unifeeder continuing to benefit from structural changes in the market

International Containers

Cameron LNG begins commercial operation from Train 1 in Louisiana

Cameron LNG is the second LNG plant operating in Cameron Parish after Cheniere Energy’s Sabine Pass LNG, which inaugurated its fifth train in March
US States Tankers and Gas

Canada’s west coast container ports see imports up, exports down

At Prince Rupert, the port’s July 2019 containerised imports hit 66,277 teu, a whopping increase of 29.72% over the 51,091 teu recorded at the port in July 2018
Canada United States

UK port data shows manufacturers stockpiling ahead of Brexit

‘These figures serve to evidence that ports are playing a vital role in facilitating the British economy’s Brexit preparations’ — the BPA’s Phoebe Warneford-Thomson

EU United Kingdom
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Latest From Environment

CMA CGM makes green pledge over northern sea route

Container giant will not follow in competitors’ steps on environmental concerns

CMA CGM Containers

New sulphur cap guidance issued by shipping sector

IBIA, IACS, IPIECA and CIMAC among the eight associations publishing the latest implementation guidance

International Fuels

PIL installs scrubbers on 60% of fleet

There is also a big question mark on the blended fuels, says Teo Siong Seng

Asia Pacific Containers

One too many variables in maritime sustainability reporting

Ship finance is not for the faint-hearted — this is one reality investors have to live with, even if they have the benefit of being advised by sustainability reports put out by shipping firms

International Singapore

World’s largest boxship completes first Asia-Europe leg

MSC says larger containerships help it meet its environmental commitments and lower carbon emission per teu

Europe Mediterranean Shipping Co

The Lloyd’s List Podcast: Shipping’s hydrogen future

CMB’s chief executive Alexander Saverys believes that hydrogen offers shipping’s best bet to reach a zero-carbon future and he is investing heavily to that end. But even he concedes that things are moving too slowly, and greater collaboration and partnerships will be required before the technological challenges can be overcome. He joins Lloyd’s List editor Richard Meade on this week’s podcast to discuss the industry’s green investment conundrum and why a collective effort is going to be required to hit the industry’s 2050 emissions goals

International Lloyd's List The Shipping Podcast
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Latest From Safety

From the News Desk: Britain on alert as a WTO-terms Brexit looms

This week: The United Kingdom government warns the shipping industry and those around it that they must be ready in the event of a WTO-terms Brexit, Iran appears to be thawing to the idea of releasing the oil tanker it impounded after the release of the Iranian tanker seized by British Royal Marines and container lines try to clamp down on misdeclared cargoes

International Casualty

Time to name and shame rogue shippers, says Drewry

A limited amount of information sharing could greatly enhance safety and reduce fraud, argues Drewry, with most shippers likely to welcome any measure that will help reduce the risk of delay or damage to their cargoes

International Containers

International co-operation needed to tackle Gulf of Guinea piracy

Call comes after the abduction of 17 seafarers in the Gulf of Guinea

BIMCO Safety

Pirates shoot at LPG carrier off Nigeria

The crew on the Wisdom Marine vessel retreated to the citadel and the master took evasive action

Middle East and Africa Piracy and Security

Freight forwarders hit back on cargo misdeclaration fines

‘It’s interesting that they talk about fines, because I don’t think that in the private sector you can fine people. Usually fines relate to regulators and law enforcement agencies,’ says FIATA acting director general Steve Morris

International Containers

Kidnapped Turkish crew released

Nearly a month after 10 Turkish crew were abducted from the Turkish-flagged 8,928 dwt Paksoy 1 general cargo vessel off Nigeria the seafarers have been released unharmed

Asia Pacific Containers
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Latest From Shipbuilding

Viewpoint: When we used to make things

Logic confirms there are still too many shipyards in the world, scratching around for a living is a world where demand is hugely cyclical, desperately penetrated by politics, with even the world’s biggest finding themselves struggling

Europe United Kingdom

DSME confirms exercise of Maran LNG newbuilding option

Even with this latest order however, DSME has only met 36% of its orderbook target for 2019 so far

Tankers and Gas Shipbuilding

Dry bulk edges towards rebalance

The brokerage’s research team says that vessels taken offline for scrubber installations should reduce fleet growth by 1% on average through this year

Dry Bulk International

China’s Ouhua Shipbuilding sold for $135m

The assets disposed of include Ouhua’s shipbuilding facilities on Xiaoqian Island in Zhoushan and eight vessels under construction

Asia Pacific Containers

Yard Talk | Life is unpredictable

Chairman Ren Yuanlin’s possible return to the helm is hugely important for Yangzijiang, which is pinning its hopes on a big turnaround in the second half to hit its full-year new order target. The return of the business maestro would inspire confidence that it is heading in the right direction

Asia Pacific Containers

Keppel sizes up fire damage on LNG tanker

The first of two 7,500 cu m LNG bunkering capable tankers ordered from Keppel Singmarine was launched at Keppel Nantong in late July and both units were previously scheduled for delivery in the second and third quarters of this year

Singapore China
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Latest From Technology and Innovation

Check out Britain’s intellectual capital at London shipping week

LISW comes seven weeks before the UK leaves the European Union. How will that affect the country’s maritime sector? Where will the industry see gains and losses? How can shipping benefit from Brexit?

United Kingdom Classification

Finalists announced for Lloyd’s List Asia Pacific Awards

Winners will be announced at the Lloyd’s List Asia Pacific Awards ceremony in Singapore’s Shangri-La Hotel

Asia Pacific Containers

Large lines should think about asset-sharing

The use of platforms to provide specialised services could allow carriers to focus on their core strengths

International Containers
See All

Latest From Sale and Purchase

Hong Kong court sells four more Brightoil tankers

Brightoil has recouped $201.6m from the disposal of three very large crude carriers and one aframax in June, and is expected to recover another $230m-$250m from the sale of the remainder of the fleet

Asia Pacific Tankers and Gas

Navios Acquisition curbs losses for second quarter

Higher earnings at Navios Acquisition were partly offset by a $4.4m increase in interest and financing cost, and a $3.5m increase in depreciation and amortisation because of a fleet merger

Tankers and Gas Navios Group

Diamond S disposes of two 2008-built MR tankers

Update: D'Amico International Shipping of Italy also sheds product tanker from a joint venture

Tankers and Gas Sale and Purchase

Samudera sells two bulkers for $20.3m

Samudera will pump in some of the funds from the sale to fund a potential investment in a company that provides shipping services on domestic Indonesian routes

Asia Pacific Dry Bulk

Performance Shipping takes first former Maersk tanker

Two tankers to join the existing company fleet of four container vessels comprising two post-panamaxes and two panamaxes

Greece Containers

Ex-Baltic Asia head Christopher Jones joins HFW in Singapore

Mr Jones’ expertise on past and current freight rates, and ability to undertake valuation work will prove valuable, with HFW’s Singapore office handling an average of 200 to 250 ship closings a year

Singapore Law
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