• More
  • Less
  • Search results for :
  • Rickmers Group unveils deeper loss

    German shipowner and manager reports EUR 341m in red ink for 2016.

    Finance  tradewindsnews.com 28 Apr 22:01 GMT Eric Martin

    Matson chief executive takes chairman job

    Cox to put the Matt in Matson with consolidation of chief executive and chairman jobs after retirement of Walter Dods.

    Liner  tradewindsnews.com 28 Apr 20:28 GMT Eric Martin

    Court agrees to hear Frontline lawsuit but refuses to act now

    UPDATE: After judge declines to issue immediate restraining order, John Fredriksen tanker owner to do battle at 17 May hearing with DHT and BW.

    Legal  tradewindsnews.com 28 Apr 16:15 GMT Eric Martin

    Diana Shipping ties up trio on term charters

    New York-listed bulker owner forges 13-month deal for panamax, six-month charters for two capes.

    Dry cargo  tradewindsnews.com 28 Apr 14:54 GMT Eric Martin

    Ernst Russ' reports strong results for 2016

    Hamburg-based owner touts 'positive developments' as it looks to grow its maritime business.

    Finance  tradewindsnews.com 28 Apr 14:45 GMT Global Mediator

    NWS sees fivefold drop in profit

    Russian bulker company hit by lower revenue in 2016.

    Dry cargo  tradewindsnews.com 28 Apr 14:27 GMT Global Mediator

    Capital Products' profit hits first quarter mark

    New York-listed tanker and boxship owner sees revenue rise thanks to fleet expansion.

    Tankers  tradewindsnews.com 28 Apr 14:02 GMT Global Mediator

    'New era' DryShips confirms latest buy

    Addition of $24m kamsarmax comes as owner sets for wave of deliveries after spending spree.

    Ship Sales  tradewindsnews.com 28 Apr 13:52 GMT Andy Pierce

    RCCL ups profit and launches share buyback

    Cruiseship giant exceeds expectations in the first quarter and prepares to repurchase $500m of shares.

    Finance  tradewindsnews.com 28 Apr 13:50 GMT Global Mediator

    Euronav VLCC refloating plan approved

    Indonesia gives go-ahead for lightering of tanker stuck since 12 April.

    Tankers  tradewindsnews.com 28 Apr 13:45 GMT Global Mediator

    Precious Shipping almost erases loss

    Khalid Hashim-led company cuts costs in the first quarter and posts improved result.

    Dry cargo  tradewindsnews.com 28 Apr 13:03 GMT Global Mediator

    Tallinna Sadam launching IPO

    Estonia wants to sell off stake in ferry and port company.

    Finance  tradewindsnews.com 28 Apr 13:01 GMT Global Mediator

    Songa Bulk sitting pretty on 10-strong fleet

    Clarksons analysts say owner is over $20m to the good on initial purchases with leverage to fuel second round of growth.

    Dry cargo  tradewindsnews.com 28 Apr 12:59 GMT Andy Pierce

    CSDC makes it back into black

    CoscoCS financial leasing company benefited from lower costs in first quarter.

    Finance  tradewindsnews.com 28 Apr 12:46 GMT Global Mediator

    Maersk Broker in new dry cargo venture

    New tie-up in Germany comes at the same time as the hiring of Jesper Bo Hansen and Christian Parsbo.

    Dry cargo  tradewindsnews.com 28 Apr 12:11 GMT Andy Pierce

    'Stinking' livestock carrier barred

    Canary Islands port turns away Lebanese vessel Polaris-2.

    Casualties  tradewindsnews.com 28 Apr 11:11 GMT Global Mediator

    Scorpio Tankers expects 'substantial' rate upturn

    Scorpio Tankers executives struck a bullish note on the products market at a time when demand is running ahead of expectations. Chief executive Emanuele Lauro and president Robert Bugbee told investors and analysts that rates a set to rise. “We are one quarter closer to the recovery and we're getting even more bullish than we had previously thought we would be,” Lauro said in a conference call y

    Tankers  tradewindsnews.com 28 Apr 10:44 GMT Andy Pierce

    Collapsed RMT makes $2.6m payment to banks

    Failed Singapore boxship trust hands over cash to syndicate of its lenders.

    Finance  tradewindsnews.com 28 Apr 10:26 GMT Global Mediator

    Samudera logs small loss in first quarter

    Diversified owner sees red as it relies on dry bulk recovery to improve its future results.

    Finance  tradewindsnews.com 28 Apr 10:17 GMT Global Mediator

    Tanker giant CSET starts with $82m profit

    World's biggest tanker owner sees earnings dip after bulker operations sold last year.

    Tankers  tradewindsnews.com 28 Apr 10:08 GMT Global Mediator

    OOCL kicks-off 2017 on a positive note

    Boxship owner says revenue for the first quarter will be 6.4% higher as total volumes increase.

    Liner  tradewindsnews.com 28 Apr 09:48 GMT Global Mediator

    Tanker capsizes at Nauta Shipyard

    Crane collapse blamed for accident involving Norwegian ship in Poland.

    Tankers  tradewindsnews.com 28 Apr 09:24 GMT Global Mediator

    Norway Night pulls in big crowd on evening to remember in Singapore

    Professionals from the shipping industry and the oil and gas sector gathered in full force at Norway Night. If anyone thought the evening reception was only meant for the Norwegians, they would be wrong. The event, organised by the Norwegian Embassy in conjunction with the Singapore Maritime Week, was to bring Norwegian businesses and local-based maritime companies together for a night of netwo

    Offshore  tradewindsnews.com 28 Apr 09:08 GMT Global Mediator

    Chinese banks show prowess as game-changers inship finance

    Panellists discuss the sector’s shift from West to East and how Chinese banks want a piece of the ‘whole supply chain’

    Weekly  tradewindsnews.com 28 Apr 09:08 GMT Global Mediator

    Samsung Heavy hikes profit in first quarter

    South Korean shipbuilder records stronger bottom line in opening three months of 2017.

    Finance  tradewindsnews.com 28 Apr 08:49 GMT Andy Pierce

    Bourbon in first French wind turbine deal

    Offshore giant wins mooring installation contract set to commence this summer.

    Offshore  tradewindsnews.com 28 Apr 08:47 GMT Global Mediator

    NYK posts loss of $2.39bn

    One of Japan’s “Big Three” swings to a loss due to weak shipping markets.

    Finance  tradewindsnews.com 28 Apr 08:24 GMT Global Mediator

    Mitsui OSK Lines shows 2027 vision

    Japanese giant Mitsui OSK Lines today set ambitious profit targets as it laid down a new 10-year plan that will see it focus investment in stable areas with long-term growth potential. Its Rolling Plan strategy puts LNG, offshore, ferries and chemical tankers at top of the resource allocation list and sights a profit of up to $1.8bn for fiscal 2027 based on present exchange rates. The areas were

    Finance  tradewindsnews.com 28 Apr 08:22 GMT Andy Pierce

    K Line annual loss hits $1.25bn

    Japanese owner hammered by weaker markets as revenue declines.

    Liner  tradewindsnews.com 28 Apr 08:01 GMT Global Mediator

    Maersk names its $4bn price for Hamburg Sud

    Danish line reveals cost of 130-boxship acquisition.

    Liner  tradewindsnews.com 28 Apr 07:17 GMT Global Mediator

    STX clinches product tanker order

    Restructuring Korean yard adds first newbuildings in over a year.

    Tankers  tradewindsnews.com 28 Apr 06:55 GMT Global Mediator

    Sembcorp Marine shares slide on weak quarter

    Singapore rig building yard says pace of recovery in oil and gas sector remains uncertain.

    Shipyards  tradewindsnews.com 28 Apr 06:01 GMT Global Mediator

    Navios in deal to take control at FSL Trust

    Angeliki Frangou-led firms continue to take an interest in distressed Singapore business trusts.

    Finance  tradewindsnews.com 28 Apr 03:51 GMT Global Mediator

    Yangzijiang offloads terminated newbuilds

    Chinese yard takes advantage of more bullish dry market to offload formerly unwanted vessels.

    Shipyards  tradewindsnews.com 28 Apr 03:15 GMT Global Mediator

    Bunker sales continue to weigh on World Fuel

    Fuel supplier delivers profit slump as marine earnings slip below expectations.

    Finance  tradewindsnews.com 28 Apr 02:59 GMT Eric Martin

    New Priok joins port industry’s premier league

    Indonesian terminal says its ability to handle 18,000-teu ships will transform regional trade.

    Liner  tradewindsnews.com 28 Apr 00:29 GMT Global Mediator

    Smaller bulkers to benefit from 'One Belt, One Road'

    Chinese initiative to open up ore and coal markets to more sub-capesize vessels, mining companies say

    Weekly  tradewindsnews.com 27 Apr 23:05 GMT Global Mediator

    Chia wants export credits to aid Singapore yard competitiveness

    Michael Chia, managing director of marine and technology at Keppel Offshore & Marine, says export credits could help keep Singapore’s shipyards competitive in a bad market. The head of one of the world’s largest builders of oil rigs told delegates at a Sea Asia Conference offshore forum yesterday that Singaporean shipyards have never had the benefit of export credit financing, and he hoped it mig

    Offshore  tradewindsnews.com 27 Apr 20:37 GMT Global Mediator

    Sector under threat from cheap ships and ongoing talent drain

    Dutch offshore heavyweight Coco Vroon says speculative purchasing of laid-up assets by inexperienced operators is a potential issue for the offshore market

    Offshore  tradewindsnews.com 27 Apr 20:34 GMT Global Mediator

    Costamare locks in funding and buys trio

    European bank provides cash for newbuilding programme as New York-listed shipowner picks up three containerships.

    Liner  tradewindsnews.com 27 Apr 20:27 GMT Andy Pierce

    Wilhelmsen swoops on Drew Marine technical arm in $400m deal

    Oslo-listed shipping conglomerate expects $150m annual boost from Drew Marine Technical Services.

    Finance  tradewindsnews.com 27 Apr 19:25 GMT Eric Martin

    Offshore unit pulls down Exmar's result

    LNG and LPG shipping units also see operating profit fall from year ago.

    Gas  tradewindsnews.com 27 Apr 19:10 GMT Global Mediator

    Ethylene ship Gaschem Beluga takes a bow

    German shipowner Hartmann Reederei named the first of its innovatively designed liquefied ethylene carriers (LEG) at Teesside in the UK today. The Chinese-built, 36,000-cbm GasChem Beluga (built 2016) was on display for the first time at a ceremony hosted by Hartmann as the vessel shipped its second cargo of US-produced ethane from Houston into petrochemical company Saudi Basic Industries Corp’s

    Gas  tradewindsnews.com 27 Apr 18:58 GMT Global Mediator

    Fredriksen chase offers royal approval for tanker market

    Analyst says 'tanker king's' hot pursuit of DHT a sign of recovery as Euronav boss stresses 'only way is up' for tanker values.

    Tankers  tradewindsnews.com 27 Apr 17:08 GMT Andy Pierce

    DryShips pays off last of its legacy loans

    George Economou-led shipowner completes balance sheet 'transformation'.

    Gas  tradewindsnews.com 27 Apr 16:10 GMT Eric Martin

    Lighthouse keepers shine focus on shipping’s best job

    'It is like living in a resort', claim the two men who run the famous Raffles Lighthouse in the Singapore Strait — just do not expect much connection with the outside world

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Russian yards flagship has ambitious plans for future

    As it celebrates its tenth anniversary, United Shipbuilding Corp is modernising production and quietly preparing to expand its output of commercial tonnage, especially ice-class operations

    Shipyards  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Steimler celebrates two decades at NYK with top European job

    Norwegian becomes first non-Japanese chief executive of an NYK regional company

    Dry cargo  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Chief executive to fight Japan’s corner in honorary role

    Svein Steimler has also been given the role of representing the interests of the Japanese Shipowners’ Association (JSA) at the International Chamber of Shipping (ICS). He says he is proud to take on the role and ready to fight Japan’s corner, even though he might not exactly look the part. “The only thing that will differentiate me from the Japanese is that I don’t look Japanese,” he said. Yet

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Tanker owners: hold your nerve and don’t be spooked into a new round of ordering

    Euronav chief executive Paddy Rodgers urges shipowners not to be rushed into ordering more ­vessels by incoming regulations, or by talk of the lowest price and last berth

    Shipyards  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    US court mulls whether to tackle Phoenix’s query on ship arrests

    Bulker operator's lawyers ask court: Can a charterer's contract for bunkers supply in Singapore subject a shipowner to a vessel arrest in New Orleans?

    Legal  tradewindsnews.com 27 Apr 16:00 GMT Eric Martin

    Don’t get too carried away. It’s recovery, but not as we know it

    Market sentiment and economic outlook are positive and in alignment for the first time in years, but just don’t expect shipping’s boom times to come back

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Greeks think time is ripe for profit-taking

    Sea Globe Management, Seapraxis and Primebulk eye lucrative asset plays

    Dry cargo  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    City’s shipping family proves oar-some as it raises funds for seafarers at RASI II

    Following on from the legacy of 2015’s epic 24-hour Row Around Singapore Island (RASI) in celebration of the city-state's 50th birthday, last Saturday saw eight teams from a cross-section of Singapore’s maritime community — including cadets and students from the Singapore Maritime Academy — compete for the Thomas Miller Mission RASI Cup. The event’s goal was to raise $10,000 for The Mission to Se

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Golden moment for latest Stena Bulk newbuilding

    Stena Bulk named the latest of its 13 IMO-II Max tankers last week in sizzling Dubai temperatures close to 40 degrees Celsius. The United Arab Emirates city was a fitting location for the event as the company and Stena Weco’s fleet of sisterships are focusing increasingly on the chemicals trade for which Dubai is a key location. A total of 100 guests attended the naming of the 50,000-dwt medium-

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Credit Suisse sues to foreclose on tanker tied to Amer Shipping

    Bank arrests aframax tanker in federal court in Texas after alleged failure to pay $110m in loans in default.

    Legal  tradewindsnews.com 27 Apr 16:00 GMT Eric Martin

    Analyst praise for Diana raise proves premature

    Greek owner’s stock price deterioration means it failed to issue shares close to net asset value in last week’s $70m equity raise

    Finance  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Austbulk buys up final NewLead bulker

    The fleet of collapsed US-listed owner NewLead Holdings is in the process of being sold off, with its remaining bulker — the Tsuneishi-built, 75,000-dwt NewLead Victoria (built 2002) — auctioned in Malaysia. The ship, which is due for special survey, has gone to little-known Malaysian owner Austbulk Shipping for just $5m. VesselsValue estimates the ship to be worth $7.7m. The vessel was arrested

    Legal  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    SwissMarine holds out for high price on capesize

    Newbuilding put up for sale after chief executive unveiled plan to grow fleet with older tonnage

    Dry cargo  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    DBS takes more cautious approach to ship finance

    Singapore’s largest lender DBS Group claims that lessons learned from the collapse of offshore shipping have resulted in a more conservative stance towards ship finance.

    Finance  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Slowdown in bulker deliveries to spell good news for owners

    Fleet supply growth forecast to fall to just 0.3% in 2018 after surge this quarter

    Dry cargo  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Eurobulk gains on supramax bulker sale

    Greek owner Eurobulk has hit the jackpot with a supramax bulker it bought a little more than a year ago. The company has sold the Kawasaki-built, 55,000-dwt Eressos Luck (built 2009) to an undisclosed buyer for $14.5m, according to sources. UK-based online platform VesselsValue says the ship is worth $12.7m. Eurobulk bought the vessel at the bottom of the market as Calypso Colossus from K Line of

    Dry cargo  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Iranian liquidation leaves Cyprus owner chasing claim

    Cyprus Sea Lines is trying to collect what it can on a huge arbitration award against failed Bonyad Shipping before the Iranian company's liquidation process winds up. As a result of a previously unpublicised chartering dispute dating back to the global financial crisis, bulker, tanker, and containership owner Cyprus Sea Lines holds two final London arbitration awards worth some $55m plus interes

    Legal  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Almi Tankers red-flags social media to staff

    Almi Tankers has become one of the first Greek shipping companies to publicly adopt a social media policy for its employees, warning them they could be sacked if they violate it. “The Internet never forgets and your digital footprint can serve as a source for journalists,” said the company in a posting on its website last week. “While Almi recognises that social media increases opportunities for

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Harry Papachristou

    Mosvold concentrates its efforts on offshore

    The Mosvold family of Kristiansand is following in the footsteps of John Fredriksen and Tor Olav Troim by hunting for cheap offshore assets as Mosvold Shipping group exits the bulker market after three year of losses. “The downturn in offshore and oil services lasted longer and became more serious than what many had expected,” Mosvold Shipping boss Morten Borge told Norwegian daily Finans­avisen.

    Offshore  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Adelfia offloads ultramax bulker newbuilding

    Adelfia Shipping of Greece is selling an ultramax bulker newbuilding from Japan Marine United (JMU). Sources say the 60,000-dwt ship, with Hull No. 5080 and for delivery in July this year, has gone for $25.5m to Eastern Mediterranean but neither it nor Adelfia responded to a request to comment. Adelfia has been trimming its fleet as part of its own reorganisation. In December, it told TradeWind

    Dry cargo  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Meadway S&T denies sale of supramax

    Meadway Shipping & Trading of Greece is said to have received a surprisingly low price for a supramax bulker reportedly sold to a Chinese buyer. Sources say the Yangzhou Dayang-built, 53,000-dwt Lark (built 2007) has gone for $7.5m. However, the company insists that the ship has not been sold and it has been fixed out on charter. UK-based online platform VesselsValue estimates the Chinese-built

    Dry cargo  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Boxship sellers hold out in hopes of higher prices

    Sales of secondhand boxships are failing as sellers withdraw vessels from the market in the belief that a rising charter market for ships up to 5,000 teu will enable them to obtain a stronger price. The 4,300-teu Barbados (built 2010) was reported sold last month for $6.9m, but the deal is understood to have failed. Brokers say the ­German owners are holding out for more after ships of a similar

    Liner  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Galbraith’s grows tanker team with new hires

    Shipbroker Galbraith’s has continued its expansion with the addition of four tanker brokers to its London team. The latest arrivals continue an active growth period for the ­privately owned brokerage, which set up a specialist finance division late last year. Tanker market sources identify former Gibson trio Dan Lee, Jamie Tyrer and Bertie Tibbles, alongside Paul Kenny from Ocean Shipbrokers, as

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Andy Pierce

    Navigare Capital Partners backed fund in $48m debut buy

    Cross-sector fund up and running with purchase of products tankers

    Finance  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    US-Asia trade route softens impact of Opec cuts

    Hugo de Stoop says US exports to Asia have supported demand in the crude tanker market this year.

    Tankers  tradewindsnews.com 27 Apr 16:00 GMT Andy Pierce

    LPG carrier market bottoming out and to improve from 2017

    Small vessels to benefit from increasing inter-regional trade but medium-size ships still held back by deliveries

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Paul Berrill

    India Steamship sells modern LR2 tanker

    India Steamship appears finally to have found a buyer for one of its four modern long-range-two (LR2) tankers. The Hyundai-built, 105,000-dwt Ratna Shalini (built 2010) has been committed on subjects to George Economou's Cardiff Marine, according to sources, for a relatively firm price of $25m, sources say. The tanker was the newest of a quartet reportedly ordered for $63.5m each. All the ship

    Tankers  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Frontline grows in LR2 sector with 18 ships

    Oslo and New York-listed tanker owner Frontline is quietly building up a substantial presence in the long-range-two (LR2) tanker market and by next year will have a fleet of 18 units. TradeWinds is told that five of them have been fixed out on time charters. “I have great faith in this segment, also because these ships are flexible and can trade both as clean and crude tankers”, says Robert Hvid

    Tankers  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Despite what Donald Trump says, a little discretion is no bad thing

    When the taxpayer is picking up the tab for tottering shipping companies, it might pay their wealthy executives to keep a lower profile

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Lighthouse keepers shine a light on shipping’s best job

    'It is like living in a resort', claim the two men who run the famous Raffles Lighthouse in the Singapore Strait — just do not expect much connection with the outside world

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Baltic Exchange lays out its strategy post-SGX takeover

    Newly appointed chief executive outlines leadership strategy including move by exchange into LNG and container indices

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Baltic Exchange focuses on attracting new members by promoting ethical Baltic Code

    The Baltic Exchange is making a big push to increase the appeal of becoming a member, especially against the backdrop of companies operating in an increasingly regulated world. Chief executive Mark Jackson says central to the membership drive is raising awareness of the code of conduct, or Baltic Code, which has evolved over the years. It is being effectively modernised to reflect the new regula

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Trader Koch bags TEN suezmaxes for time-charter business

    Trader Koch is taking two suezmax tankers from US-listed Tsakos Energy Navigation (TEN) on three-year charters, TradeWinds is told. The 164,000-dwt Euronike (built 2005) and 158,000-dwt Pentathlon (built 2009) have been fixed at an undisclosed rate. Oslo broker Fearnleys says a three-year rate for suezmaxes is $21,000 per day. The Pentathlon was purchased in July 2015 as Yasa Polaris from Yasa T

    Tankers  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    London will remain Baltic Exchange's HQ but Asia grows in stature

    Chief executive Mark Jackson says there are no plans to move the Baltic Exchange’s headquarters from London to Singapore following its takeover by the Singapore Exchange (SGX). “This is the global head of the Baltic. We are in a global business,” he said. “We are not moving our operation to Singapore. “It is the difference between talking about part of the market being Asia and the whole market

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Benetech linked to MR2 double buy

    Benetech is being linked to an enbloc deal for a pair of medium-range-two (MR2) tankers, which would mark an acceleration in the Greek company’s expansion drive. The 50,400-dwt sisterships Oriental Ruby and Oriental Emerald (both built 2005) have changed hands for a total price of $22.5m, with brokers identifying Benetech as the buyer. Benetech managers did not respond to a request for comment

    Tankers  tradewindsnews.com 27 Apr 16:00 GMT Harry Papachristou

    H-Line’s planned tanker entry linked to talk of VLCC orders

    Korean group said to be eyeing tanker contract but plays down talk of a deal with China’s DSIC

    Shipyards  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Fundamentals look their best for six years

    The fundamentals of the container shipping industry are looking their best for six years, a new study suggests. Demand for container shipping grew by 2.7%, while supply rose by only 1.3% in 2016. That means market fundamentals improved for the first time since 2011, according to a study compiled by Bimco chief shipping analyst Peter Sand. Bimco attributes the improvement to the actions by shipow

    Liner  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Europe-to-Asia box freight rate turns topsy turvy

    There is no quick fix to a capacity crunch preventing containers from being shipped from Europe to Asia

    Liner  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Yang Ming allays fears over its financial health

    Yang Ming Marine Transport is seeking to allay fears over its financial health after its stock was suspended from trading on the Taiwan Stock Exchange. Speculation over the future of the Taiwanese operator has simmered in the wake of the Hanjin Shipping bankruptcy because Yang Ming is seen as one of the weaker liner operators. The Taiwanese line practically doubled losses to TWD 14.88bn ($492m)

    Liner  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Union warns over industry scrimping on safety gear

    Much of the life-saving equipment on ships is dated and inappropriate according to Nautilus International, which is calling for change in how crews are protected

    Casualties  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    US detentions cut by half in the past year

    Detentions by US Coast Guard (USCG) port state control nearly halved last year, according to its 2016 annual report. The USCG conducted 9,390 International Convention for the Safety of Life at Sea (Solas)-related inspections resulting in 103 detentions compared with 202 in the previous year. The three year rolling detention rate also fell marginally from 1.67% to 1.63%. USCG assistant commandan

    Casualties  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    New moisture alert over Philippines nickel ore exports

    Heavy rains and mine closures have led to a new warning over the safety of Philippines nickel ore exports. Protection-and-indemnity insurer the West of England Club has produced a safety alert on Philippines nickel ore exports after receiving information from local correspondent Pandiman Philippines. The country has been experiencing heavy rainfalls onto exposed nickel ore deposits recently whic

    Casualties  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Last year was most challenging for club’s offshore members

    Managing director Karl Even Rygh says 2016 proved to be another challenging year for Nordisk. “The market situation has created a litigious business environment, with the result that our assistance is often required in disputes that would otherwise have been resolved amicably,” he said. Nordisk describes last year as the most challenging yet for its offshore members as more long-term contracts e

    Insurance  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Nordisk slips into the red as dispute numbers fall

    Norwegian freight, demurrage and defence mutual hit by outbreak of harmony

    Insurance  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Route emerges of damaged Knutsen LNG ship

    An LNG carrier that hit a submerged reef while en route from Japan to Australia appears to have taken a slightly less used route than that normally followed by ships making similar voyages. Ship tracking data from Genscape shows the Knutsen OAS Shipping's 173,400-cbm Sevilla Knutsen (built 2010) sailed close to Edarepe Island, one of three islands comprising Eauripik coral atoll in the western Ca

    Gas  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Golar LNG steps up efforts to free laid-up Gandria at Batam

    Keppel labour force ready and waiting for detained LNG carrier to kick off next job to convert vessel into floating LNG (FLNG) unit

    Gas  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Coral FLNG project finally set to fly

    A final investment decision is expected to be made shortly on long-running plans for the Eni-led Coral floating LNG (FLNG) production project off Mozambique. Yard sources say a sanction is expected next month that will see the project shareholders firm up plans with Samsung Heavy Industries (SHI) in South Korea and its engineering partner Technip for the construction of a 3.4-million tonnes per a

    Shipyards  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Sinokor bumps up LNG carrier fleet with secondhand trio

    Newest additions give South Korean owner a swathe of 13 laid-up LNG vessels with which to play

    Gas  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Vessels position for Jovo breakbulk shipments

    Two LNG carriers are being put to new uses to supply product in smaller parcels into China for trader Jovo Group Co. TradeWinds understands that the 152,300-cbm Seri Bakti (built 2007) will be used as a mothership based in Subic Bay in the Philippines from which cargoes will be offloaded onto smaller tonnage. Sources explain that the 65,000-cbm LNG Lerici (built 1998) will be taking one of the f

    Gas  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Designers create 21st-century prison ship

    Three French architects, working under the name 1week1project, have designed a 21st-century prison ship. But unlike the dark and dank prison ships of yesteryear, the inmates will be able to enjoy fresh air and beautiful ocean views. The ship's two cell blocks would create sails 350 metres long by 100 metres high (1,150 feet by 328 feet). Each sail houses nine metre square cells, housing a total o

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Go-karting latest perk for cruise lovers

    The arms race between cruise lines to attract passengers is not letting up as evidenced by Norwegian Cruise Line's latest gambit. The 3,850-berth Norwegian Joy (built 2017) will include a go-kart track on the top deck. The track, which is a partnership with Scuderia Ferrari Watches, features two levels where 10 drivers at a time will be able to race one another in electric go-karts. Drivers wil

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Productivity and technical innovations top strategic agenda

    United Shipbuilding Corp (USC) spokesman Roman Chernigovstev says that, on the production side, the company has succeeded in making a big transition in its first decade of operation. He says it has transformed “from an archaic, Soviet-era shipyard work-management system to long-term planning that meets the global trends in shipbuilding”. “The process of elaborating USC’s technical policy and pre

    Shipyards  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator

    Oslo fun run opens up for second time

    Registration has opened for a five-kilometre charity fun run on the first day of Nor-Shipping that aims to raise £100,000 for the maritime event’s partner charity, the Mission to Seafarers. Taking place on Monday, 29 May at 5pm, the second non-competitive 5k run, after its launch in 2015, will take a scenic route around Oslo city centre, including Akershus Castle, and finishing at Tjuvholmen. An

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Paul Berrill

    KHI chairman Murayama hits out at 'distorting' DSME bailout

    Kawasaki chairman says financial supports given to DSME will distort the market as Japanese shipbuilding capacity is closed

    Weekly  tradewindsnews.com 27 Apr 16:00 GMT Global Mediator