Eidesvik PSV leaves lay up for Aker BP contract

After over two and a half years in layup, a platform supply vessel (PSV) owned by Eidesvik Offshore is about to start a contract with Aker BP. Three Norwegian owners win PSV frame deal with Aker BP The 3,546-dwt Viking Athene (built 2006) will be employed for a firm six-month period beginning next quarter, Eidesvik said in a filing on Tuesday. The PSV has been laid up in Norway for 973 days

Offshore  tradewindsnews.com 21 minutes old Holly Birkett

Jones Act tanker firm American Shipping Company opens 2019 in the black

American Shipping Company’s first quarter results have measured up with market expectations at a time it sees stability in the Jones Act market. American Shipping Company stays in black as Jones Act momentum continues American Shipping Company looks to amend $220m bond Oslo-listed American Shipping rang in an adjusted profit of $2.2m in the first three months of the year, in line with the $2.3m

Tankers  tradewindsnews.com 40 minutes old Andy Pierce

Master reveals 'mental torture' on detained suezmax

The captain of a UAE-owned suezmax detained in Egypt for six months has revealed what he calls "mental and physical torture" on board the vessel. In an email to TradeWinds, master Vitaliy Nesterenko said his 163,000-dwt Sea Shark (built 1991) was held by Egyptian naval forces on 17 December. Fuel has now run out on board and the vessel is using emergency generators, he wrote. "This has

Tankers  tradewindsnews.com 1 hours old Gary Dixon

Lloyd's AFL makes play to grow marine insurance business

New recruit Alexander Mott says the marine market needs fresh ideas, as he attempts to grow the ambitious broker's business from London

Insurance  tradewindsnews.com 2 hours old Adam Corbett

Car carrier rates have bottomed out but are still too low to kick-start newbuildings

Up to the collapse of Lehman Brothers in 2008, there was a shortage of car carrier capacity. The fleet then included a lot of older vessels, many of which were scrapped enabling the market to recover from the economic downturn. For example, in late 2009 Hoegh Autoliners’ decided to scrap eight car carriers in China. However, an orderbook of more than 150 newbuildings meant the fleet quickly gre

Dry cargo  tradewindsnews.com 2 hours old Geoff Garfield

The men sculpting the future of 150-year old Astrup Fearnley

How do you go about changing a revered 150-year-old Oslo institution? Start by tearing down walls, the new top team at Astrup Fearnley explains

TW+  tradewindsnews.com 2 hours old Andy Pierce

New K Line coal carrier fixed to Jera

Japan's K Line has fixed a new specialised coal carrier to power company Jera. The 100,000-dwt Miyagawu Maru was delivered on Tuesday from the Marugame yard of Imabari Shipbuilding. The "Hekinan Max" was jointly developed by the owner and the yard to maximise transport volume to the discharging terminal, Jera's Hekinan thermal power plant in Aichi. The vessel will be principally involved in "

Dry cargo  tradewindsnews.com 3 hours old Gary Dixon

Fitch bullish on tanker owner BULL

Fitch Ratings has assigned Indonesian tanker owner Buana Lintas Lautan (BULL) a B+ issuer default rating. The outlook for the company is stable, it said. BULL builds tanker acquisition war chest with $84m raise BULL said last month it was looking raise IDR 1.2 trillion ($84.3m) in a share issue as it eyes fleet expansion. It said 60% of the proceeds will be used to buy new ships, with 10% goin

Tankers  tradewindsnews.com 3 hours old Gary Dixon

Yantian Express makes Halifax, but cargo interests face two week wait

ONE says no cash, no containers for those yet to pay salvage and general average security.

Casualties  tradewindsnews.com 4 hours old Dale Wainwright

DSME boosted by $400m delivery of Sonangol drillship

Daewoo Shipbuilding & Marine Engineering (DSME) is KRW 480bn ($401m) better off after it finally delivered a much delayed drillship newbuilding. DSME profit down but beats estimates Angolan state oil company Sonangol took delivery of the second of two offshore units on Friday, six years after they were originally ordered. The first drill ship was delivered in March after resolving a multi-year

Offshore  tradewindsnews.com 6 hours old Dale Wainwright