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Latest From Finance

Tanker earnings collapse on lower West Africa ship charters

Earnings for very large crude carriers on routes to Asia from the Middle East Gulf plunged the most

Tankers and Gas Finance

BW Group sells BW LPG stake for $45m

Parent company sells a 5% stake in BW LPG but still controls about 42%

BW firms LPG

Barakah Offshore revival scuttled by Petronas licence suspension

The agreement with white knight Lecca Group to pump in $9.7m and buy pipelaying barge Kota Laksamana 101 for $21m was terminated as a result of the move

Asia Pacific Malaysia

Alafouzos family tightens grip on Okeanis Eco Tankers

The family has boosted its majority stake in the Oslo-listed firm just as QVT Financial becomes its second-largest shareholder

Energy Finance

Tanker rates hit fresh 15-year high

Rates surged after US sanctions imposed on September 25 on two tanker subsidiaries owned by China’s state-owned Cosco for shipping Iranian crude spooked refiners and traders, who shunned all tonnage connected with the world’s largest shipping company

International Tankers and Gas

Cosco Shipping Holdings issues $212m in short-term bonds

As of end-July, the company’s total current liabilities amounted to Yuan79.2bn, including Yuan24.6bn short-term borrowings, whereas its cash and cash equivalents stood at Yuan33.4bn

Asia Pacific Containers
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Latest From Insurance

Lloyd’s Law Reports: A century of maritime and commercial law reporting

In October 1919, Lloyd’s launched the first series of law reports dedicated to shipping matters, a tradition that has now reached a century-long milestone

Insurance Law

Cargo ship sinks off Tokyo as typhoon hits

Three of the 12-member crew have been rescued, according to Lloyd's List Intelligence

Asia Pacific Casualty

Globe promotes Dymond to head of marine

Globe Underwriting, the UK-based managing general agent, has promoted David Dymond to head of marine and transport following the retirement of Peter Rogers

International London

Willis Re appoints Don Harrell as chief operating officer

Harrell joins from Aspen Insurance, where he was head of international insurance and active underwriter of its Lloyd’s Syndicate 4711

Insurance People

Cosco parent begins marine insurance exit from London as sanctions bite

The shift to China from Europe comes amid intensifying contagion fears among banks, class societies, charterers and bunker suppliers about exposure to unilateral US sanctions on Iran because of Cosco’s ambiguous and opaque ownership structure

Asia Pacific China

Bodies from sunken Bourbon Rhode found as Shipowners’ Club confirms cover

‘Our thoughts and prayers are with the families and loved ones who are grieving over this dramatic event’ — chief executive Gaël Bodénès

France Offshore
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Latest From Law

Lloyd’s Law Reports: A century of maritime and commercial law reporting

In October 1919, Lloyd’s launched the first series of law reports dedicated to shipping matters, a tradition that has now reached a century-long milestone

Insurance Law

The Interview: Vincent Power

The newly elected chairman of the European Maritime Law Organisation hopes to broaden the scope of interest beyond competition law to cover all aspects of maritime regulation

Containers Regulation

Regulators must decide if unmanned vessels are ‘ships’ in legal sense, argues Jacobsson

‘Significant work will have to be carried out in adapting maritime law to the requirements of unmanned vessels,’ former IOPC funds chief executive Mans Jacobsson insists 

Europe Italy

Seafarers concerned over prosecution risks

Seafarers’ fears include becoming scapegoats in environmental disasters, as the public and media campaign to hold someone to account

International Crewing

WTO Brexit ‘threatens UK’s maritime legal standing’

While the future relationship between the UK and European Union is still uncertain, leaving the EU without an agreement may affect the venue for future maritime litigation in the UK and Scandinavia, according to one lawyer

Europe Denmark

Alkyon owner sues bank and broker

Stallion Eight Shipping is seeking more than $4m in compensation, alleging that under Greek tort law the valuation of the ship was wrongfully provided and the loan wrongfully terminated

International Dry Bulk
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Latest From Regulation

Shipping is ‘human capital intensive’ industry, says ship finance veteran

‘We don’t build the business. We build people. And people build the business,’ says Katerina Stathopoulou of Investments and Finance

International Crewing

MPA revokes bunker craft operator licence of Inter-Pacific Petroleum

MPA has taken a tough stance against the tampering of mass flow meters, with magnets in particular singled out. Two operators have had their licences revoked so far this year

Singapore Tankers and Gas

Climate concern will end shipping ‘as you know it’, warns Citi banker

The climate change agenda is making such quick inroads into shipping that some shipping companies may think their best option is to sell their company, says a banker behind the Poseidon Principles 

International Containers

The Interview: Vincent Power

The newly elected chairman of the European Maritime Law Organisation hopes to broaden the scope of interest beyond competition law to cover all aspects of maritime regulation

Containers Regulation

Italy must integrate port reform and maritime governance

Italy’s maritime economy lacks the central oversight and organisation that benefit other European governments

Europe Italy
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Latest From Casualty

Bourbon Rhode missing crew search continues

Bourbon Offshore says SAR operations move to ‘adapted monitoring’ as seven seafarers from the hurricane-stricken tug are still missing 

Casualty Crewing

Cargo ship sinks off Tokyo as typhoon hits

Three of the 12-member crew have been rescued, according to Lloyd's List Intelligence

Asia Pacific Casualty

Forum to consider hazardous cargo concerns

Panel of experts from industry and regulators to seek solutions on containership fire issue

International Containers

Registry calls for review of IMO’s casualty investigation code

Liberian registry’s chief operating officer Alfonso Castillero says blame should not be aimed squarely at flags or owners for failing to meet safety rules. It is up to all stakeholders to provide full and proper information to ensure safety, thereby helping to prevent future incidents, including reviewing the quality of training

International Crewing

Ulsan ban on dangerous goods cargo continues at several terminals

The measure is effective for several terminals located under the Ulsan bridge, including Terminal 9, where the Stolt-Nielsen chemical tanker Stolt Groenland exploded and caught fire on September 29

South Korea Tankers and Gas

Bodies from sunken Bourbon Rhode found as Shipowners’ Club confirms cover

‘Our thoughts and prayers are with the families and loved ones who are grieving over this dramatic event’ — chief executive Gaël Bodénès

France Offshore
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Latest From Piracy and Security

Iranian tanker continues to spill oil after Red Sea ‘attack’

Although the precise details of the incident that occured on the Iranian vessel are unknown, radar images appear, on the face of it, to confirm that the vessel is leaking oil

Middle East and Africa Casualty

Iran says it will respond to ‘cowardly attack’ on tanker

‘We did not engage in such behaviour at all,’ Saudi Minister of State for Foreign Affairs Adel al-Jubeir told reporters in Riyadh on Sunday

Middle East and Africa Casualty

Iranian tanker ‘hit by missiles’ in suspected terror attack

Iran said one of its oil tankers has been hit by missiles near Saudi Arabia’s port city of Jeddah, causing an oil spill

Middle East and Africa Casualty

CMA CGM appoints head of security

The French group’s new head of security had been the chief negotiator when the luxury cruise yacht Le Ponant, which was owned by CMA CGM at the time, was seized by Somali pirates in 2008

Europe France

Stena Impero crew ‘free and in good spirits’ after 10 weeks of detention

The 16 crew members who have been detained in the Iranian port of Bandar Abbas since July 19 have finally been reunited with family in Dubai and are reported to be in ‘high spirits’

Middle East and Africa Iran

Viewpoint: Are you feeling vulnerable?

If our dependence on sea trade is to continue, we need to think about how maritime supply lines need to be defended

Middle East and Africa Iran
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Latest From Ports and Logistics

Fuel-cost indexing mechanism set up for IMO 2020

With fuel surcharges set to increase sharply, a shipper lobby group has produced a toolkit to make extra charges more transparent

Europe Containers

Not all UK-bound ro-ro freight is Brexit compliant

A spokesman for Dutch trade body for road transport companies and logistics service providers Transport en Logistiek Nederlandsays some hauliers have adopted a ‘wait and see’ attitude to a WTO Brexit scenario

Europe Netherlands

Capsized car carrier to be removed from port of Brunswick

The US Coast Guard is carrying out an investigation of the capsizing, but says it could be weeks or months before the cause is determined

US States Casualty

Why smart ports will be a game-changer for shipping

Join two panels of experts at the Lloyd’s List Smart Ports Forum, to be held in Dubai on November 20, to hear how ‘smart’ can be a game-changer for ports, and how smart ports will be a game-changer for trade

Events Middle East and Africa

UK signs Brexit freight capacity contracts worth $109m

Up to £86m ($109m) of UK taxpayer cash will be used to fund a set of contracts handed out to a select number of shipping companies as the Brexit deadline approaches on October 31. The contracts will be in place for six months and are designed to operate around the ports best-placed to handle a WTO Brexit

Containers Political and Trade

Italy must integrate port reform and maritime governance

Italy’s maritime economy lacks the central oversight and organisation that benefit other European governments

Europe Italy
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Latest From Environment

Climate concern will end shipping ‘as you know it’, warns Citi banker

The climate change agenda is making such quick inroads into shipping that some shipping companies may think their best option is to sell their company, says a banker behind the Poseidon Principles 

International Containers

Change is exciting or terrifying — you decide

So much has changed in the global economy over the past 20 years that shipping would be foolish to believe the pace of change will ease by 2030 or 2040. Change is the catalyst for growth

Europe Asia Pacific

China ramps up cement imports

The move by China to source cement from Vietnam could have a double boost for dry bulk, as Vietnam would require more coal in the energy-intensive process of cement production, according to Braemar research

Dry Bulk Environment

Class NK joins decarbonisation coalition

Class NK joins competitors Lloyd’s Register and ABS in cross-industry coalition to develop zero emissions vessels by 2030

ClassNK Environment

Viewpoint: Speed or power?

Slowing down to save the environment is an easy fix that produces instant results, but it does not encourage the shipping fraternity to invest in innovation

International Dry Bulk
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Latest From Safety

The Lloyd's List Podcast: Containers, shipmanagement and the casualty code

In this week’s review of the stories shaping shipping, our containers kingpins James Baker and Linton Nightingale discuss the peak season that never was and why flexibility trumps size, our chief correspondent Richard Clayton offers up the key lessons he’s learned from talking to the leading shipmanagment executives and Nidaa Bakhsh explains why governments are considering their options when it comes to casualty reporting

Lloyd's List The Shipping Podcast Containers

Registry calls for review of IMO’s casualty investigation code

Liberian registry’s chief operating officer Alfonso Castillero says blame should not be aimed squarely at flags or owners for failing to meet safety rules. It is up to all stakeholders to provide full and proper information to ensure safety, thereby helping to prevent future incidents, including reviewing the quality of training

International Crewing

Ulsan ban on dangerous goods cargo continues at several terminals

The measure is effective for several terminals located under the Ulsan bridge, including Terminal 9, where the Stolt-Nielsen chemical tanker Stolt Groenland exploded and caught fire on September 29

South Korea Tankers and Gas

Bodies from sunken Bourbon Rhode found as Shipowners’ Club confirms cover

‘Our thoughts and prayers are with the families and loved ones who are grieving over this dramatic event’ — chief executive Gaël Bodénès

France Offshore

Veniamis: ‘It’s not too late to avoid anarchy on the oceans’

Others need to speak up on a ‘potentially catastrophic’ implementation of sulphur cap, says Greek shipowners’ leader

International Greece

Gard confirms cover for Ulsan explosion ships

Club says vessels Stolt Groenland and Bow Dalian are entered for P&I cover and have H&M insurance at Gard

Asia Pacific South Korea
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Latest From Shipbuilding

MSC confirms options for five new ultra large boxships at DSME

Order at Daewoo Shipbuilding & Marine Engineering will join fleet of ultra large boxships. Brokers indicate they will be scrubber-fitted 23,000 teu units

Containers Shipbuilding

Cosco’s Piraeus investment plan handed partial approval

Fate of proposed new 2.8m teu box terminal extension still hangs in balance

Europe Greece

MISC seals two-vessel long-term LNG charter deal with ExxonMobil

Delivery of the two vessels, worth $405m, is scheduled for 2023 but no details of the charter contract were disclosed

International Tankers and Gas

Boxship upsizing continues apace

On the Asia-northern Europe trade, average capacity has increased to more than 16,000 teu and will likely rise to closer to 17,000 teu in 2020, with the roll-out of more 23,000 teu ships over the course of the next year, according to Alphaliner

Containers Ship operations

Boxship order slowdown offers opportunity for new technologies

Industry discipline and reduced ordering could provide a golden opportunity to meet IMO 2050 demands

International Containers
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Latest From Technology and Innovation

Climate concern will end shipping ‘as you know it’, warns Citi banker

The climate change agenda is making such quick inroads into shipping that some shipping companies may think their best option is to sell their company, says a banker behind the Poseidon Principles 

International Containers

Change is exciting or terrifying — you decide

So much has changed in the global economy over the past 20 years that shipping would be foolish to believe the pace of change will ease by 2030 or 2040. Change is the catalyst for growth

Europe Asia Pacific

US allegations threaten ship recognition deal

Beijing-based SenseTime announced its agreement with MOL two days after being added to the US Entity List, banning it from importing American products and technology

China US States

Why smart ports will be a game-changer for shipping

Join two panels of experts at the Lloyd’s List Smart Ports Forum, to be held in Dubai on November 20, to hear how ‘smart’ can be a game-changer for ports, and how smart ports will be a game-changer for trade

Events Middle East and Africa

The Lloyd's List Podcast: Containers, shipmanagement and the casualty code

In this week’s review of the stories shaping shipping, our containers kingpins James Baker and Linton Nightingale discuss the peak season that never was and why flexibility trumps size, our chief correspondent Richard Clayton offers up the key lessons he’s learned from talking to the leading shipmanagment executives and Nidaa Bakhsh explains why governments are considering their options when it comes to casualty reporting

Lloyd's List The Shipping Podcast Containers
See All

Latest From Sale and Purchase

Okeanis buys two suezmax newbuilds from Kyklades

Okeanis will spend almost $130m to buy the two scrubber-fitted vessels from its chief executive’s private company

Suez and Aframax Finance

Nakilat takes control of four LNG carriers

Qatari LNG outfit Nakilat has acquired full ownership of four Q-Flex liquefied natural gas carriers from joint-venture partner International Seaways for an undisclosed price

Qatar Tankers and Gas

Eastern Pacific supersized its dual-fuel LNG boxship order to 22 ships

Idan Ofer’s speculative order of 15,000 teu LNG dual fuel ships was significantly bigger than initially thought. In addition to the 11 vessels already chartered to CMA CGM, a further 11 sister ships are due to be delivered between 2021-22

Containers Shipbuilding

India plans to divest stake in state-owned shipowner

The administration of India’s prime minister Narendra Modi is hoping to use proceeds from the sale to plug budget gaps left by new corporate tax cuts

India Containers

Greek tanker owners moving to LNG

Years of experience in tanker ownership and operation are common credentials of today’s liquefied natural gas carrier owners, and this certainly applies to Greece-based owners

International Greece

Safe pair of hands, safe pair of offices

Among the company’s most interesting recent moves was establishment of Safe Bulkers Management in Limassol in 2015

International Cyprus
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