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  • Frontline questions new Gulf fixtures as crew leave Iran

    As Front Altair crew arrives in Dubai, the tanker owner says it may be 'reluctant' to fix ships in the Gulf unless security improves.

    Tankers  tradewindsnews.com 2 hours old Julian Bray and Trond Lillestolen

    Front Altair under tow from Iranian waters

    Ship-to-ship operation considered to remove naphtha cargo, while crew await repatriation from Iran.

    Casualties  tradewindsnews.com 9 hours old Gary Dixon

    Seanergy widens loss amid Vale dam disaster

    New York-listed bulker owner's first-quarter revenue falls 25%.

    Dry cargo  tradewindsnews.com 16 hours old Michael Juliano

    Hudson Shipping Lines to boycott scrubber-fitted ships

    US-based commodities trader will use only ships that burn IMO 2020-compliant fuels to 'set an example' for rest of maritime, chief executive Avi Eilon says.

    Dry cargo  tradewindsnews.com 16 hours old Michael Juliano

    Euronav raises $50m with tap issue

    A Euronav subsidiary has completed a tap issue, raising $50m. The Belgian tanker owner announced after the close Friday that its Luxembourg arm had successfully completed the move. The bonds are guaranteed by the parent, mature in 2022 and carry a coupon of 7.5%. Euronav aims for bond tap "This is a further positive step for Euronav. This transaction proves we continue to benefit from a variety

    Tankers  tradewindsnews.com 14 Jun 20:28 GMT Matt Coyne

    Trump: The Strait of Hormuz 'won't be closed for very long'

    US President Donald Trump joined the chorus of American voices blaming Iran for the suspected attack on two tankers near the Strait of Hormuz. Trump, speaking on Fox News Friday morning said the country is in "deep, deep trouble" after the US pulled out of a 2015 deal that lifted sanctions in exchange to revisions to Iran's nuclear programme. Boskalis: Front Altair situation 'still worrisome' K

    Casualties  tradewindsnews.com 14 Jun 17:47 GMT Matt Coyne

    Linblad Expeditions offers to exchange warrants for shares

    New York-based owner also looks to modify exchange ratio

    Passenger ships  tradewindsnews.com 14 Jun 16:34 GMT Michael Juliano

    Diana Shipping offers another buyback

    Simeon Palios-led bulker owner looks to repurchase two million shares in latest programme.

    Dry cargo  tradewindsnews.com 14 Jun 15:44 GMT Michael Juliano

    Will Fredly be able to sell newbuilding duo?

    Sale-and-purchase brokers in Norway are voicing scepticism that Arne Fredly’s Hunter Group will be able conclude a sale of two of its two VLCC newbuildings at DSME. The doubts emerge almost a month after the Norwegian shipowner said it was close to selling two of its eight tankers that are set for delivery in 2019 and 2020. Hunter chief executive Erik Frydendal, CEO of Hunter says he cannot com

    Tankers  tradewindsnews.com 14 Jun 15:30 GMT Trond Lillestolen

    Diana Shipping sells another old panamax

    Diana has sold six bulkers built in the early 2000s over the past seven months.

    Dry cargo  tradewindsnews.com 14 Jun 13:31 GMT Holly Birkett

    KSS expands VLGC fleet with newbuilding order worth up to $148m

    South Korea’s KSS Line is expanding its fleet with a newbuilding order for up to two VLGCs at Hyundai Heavy Industries (HHI). The deal involves one firm 86,000-cbm ship with an option for a second unit. The ship is set for delivery in 2021 and has a reported price tag of $74m. It is being described as a standard VLGC with scrubbers. European brokers said KSS Line has fixed out the newbuilding

    Gas  tradewindsnews.com 14 Jun 13:30 GMT Trond Lillestolen

    NOC warns of military build-up at tanker terminal

    Libya's National Oil Corporation (NOC) has expressed "concern" over an increased military presence at the Ras Lanuf oil terminal. It fears the export facility is "a military objective." Libya's NOC opens office in US for $60bn push Libya said to be targeting return of VLCC loadings "These actions could result in the withdrawal of NOC personnel from the port for their safety," the oil company s

    Tankers  tradewindsnews.com 14 Jun 13:16 GMT Gary Dixon

    VLCC FFAs spike amid Middle Eastern tension

    July contract for Middle East-China route nears $25,000 per day, even though spot fixtures have largely halted as owners await insurance quotes.

    Tankers  tradewindsnews.com 14 Jun 12:57 GMT Max Tingyao Lin

    Gunvor buying Commonwealth LNG over 15 years

    Trader Gunvor Group has agreed a 15-year deal to buy LNG from US producer Commonwealth Projects' Commonwealth LNG. Gunvor aims to take 1.5m tonnes per annum (mtpa) of LNG from an export project under development in Cameron Parish, Louisiana. Kalpesh Patel, Gunvor co-head of LNG trading, said: “The agreement with Commonwealth LNG is a significant step in executing Gunvor’s overall strategy of unc

    Gas  tradewindsnews.com 14 Jun 12:26 GMT Gary Dixon

    MSC secures stake in Messina Group

    Two years of talks conclude with liner giant taking minority stake in Italian conro specialist.

    Liner  tradewindsnews.com 14 Jun 11:57 GMT Ian Lewis

    Boskalis: Front Altair situation 'still worrisome'

    Dutch salvor Royal Boskalis Westminster has said the situation regarding the damaged Frontline tanker Front Altair is "still worrisome." Boskalis subsidiary Smit Salvage won the contract to salvage both the 110,000-dwt Norwegian vessel (built 2016) and the 27,000-dwt BSM-managed tanker Kokuka Courageous (built 2010), both of which were hit by torpedoes or mines off Iran on Thursday. Macleod rule

    Casualties  tradewindsnews.com 14 Jun 11:04 GMT Gary Dixon

    Neptune Lines installs hybrid-ready scrubbers on first two of 10 ships

    Neptune Lines has joined the growing group of well-known Greek shipowners installing scrubbers on its vessels to comply with the IMO’s 2020 sulphur cap. The car-carrier owner plans to have 10 ships fitted with hybrid-ready scrubbers by early next year, the Melina Travlos-controlled company said on its website. Installation work has already been completed on the first two vessels — the 3,800-ceu

    Casualties  tradewindsnews.com 14 Jun 10:48 GMT Harry Papachristou

    Macleod rules out tanker fault as cause of blast

    Frontline has ruled out a problem with its tanker Front Altair as a cause of the explosion that set the ship ablaze in the Middle East Gulf on Thursday. Crew abandoned the 110,000-dwt LR2 (built 2016) following an apparent torpedo attack. Manager says Frontline tanker crew safe and well in Iran Frontline Management CEO Robert Hvide MacLeod told TradeWinds the company “of course will take an act

    Casualties  tradewindsnews.com 14 Jun 10:39 GMT Trond Lillestolen and Gary Dixon

    ITF and JNG call for more shipping protection in Gulf

    The ITF union and the Joint Negotiating Group (JNG) of shipowners have united in a call for more protection for vessels in the Middle East Gulf. The two were reacting to the apparent torpedo and mine attack on Frontline and BSM tankers off Iran on Thursday that left the vessels abandoned and drifting. Manager says Frontline tanker crew safe and well in Iran US says Iran removed unexploded mine

    Tankers  tradewindsnews.com 14 Jun 10:23 GMT Gary Dixon

    Manager says Frontline tanker crew safe and well in Iran

    All 23 seafarers heading to Bandar Abbas for repatriation following attack in Gulf.

    Tankers  tradewindsnews.com 14 Jun 09:50 GMT Gary Dixon

    Greek shipowners dodge Brussels bullet over tonnage tax

    EU is understood to be dropping its challenge on Greece’s tonnage tax regime but only after owners agree to pay a charge on repatriated dividends

    Finance  tradewindsnews.com 14 Jun 09:15 GMT Harry Papachristou

    Thomas Cooper rejected merger with shipping rivals

    Head of shipping Darryl Kennard explains why Penningtons Manches was the only candidate for collaboration

    Legal  tradewindsnews.com 14 Jun 08:02 GMT Gary Dixon

    Onorato's Moby Group boosted by ship sales

    Italian ferry and ro-ro company Moby Group has revealed a big jump in first quarter EBITDA. The Vincenzo Onorato-controlled owner said a new vessel addition and expansion in the Sicilian haulage market had boosted the result. It had suffered in 2018 due to high bunker prices, but said revenue rose by 14.9% to €102.2m year-on-year, while EBITDA rose €24.6m ($27.75m) to €8.97m . The company also

    Finance  tradewindsnews.com 14 Jun 07:51 GMT Gary Dixon

    Vinashin quartet jailed for fraud

    Four former executives at Vietnamese state shipbuilder Vinashin have been jailed for banking illegal interest payments from OceanBank. After a three-day trial, a Hanoi court sentenced former chairman Nguyen Ngoc Su to 13 years in prison for "abuse of power or position to appropriate property,", VNExpress International reported. Three to be charged over Vinashin fraud Ex-general director Truong

    Legal  tradewindsnews.com 14 Jun 07:02 GMT Gary Dixon

    UK yard tycoon Yarrow leaves $975,000 in will

    Scottish shipyard baronet Sir Eric Yarrow left £776,000 ($975,000) in his will when he died aged 98 last year. The businessman ran family firm Yarrows through turbulent times for shipbuilding on the Clyde during the 1960s, 1970s and 1980s. Sir Eric Yarrow dies at 98 The Times reported the money was left to his family, but with some donations to be made too, not least £30,000 to his carers. He

    Finance  tradewindsnews.com 14 Jun 06:29 GMT Gary Dixon

    Norway raises Gulf security level again in wake of attacks

    Organisation advises shipowners to keep a safe distance from Iranian waters.

    Casualties  tradewindsnews.com 14 Jun 05:59 GMT Dale Wainwright

    Kokuka Sangyo says tanker damaged by 'flying objects', not mines or torpedoes

    Japanese shipowner's statement seems to refute Washington’s claim that a limpet mine was attached to the ship.

    Casualties  tradewindsnews.com 14 Jun 03:27 GMT Dale Wainwright and Max Tingyao Lin

    Kokuka Courageous taken under tow after crew reboard vessel

    Japanese-owned ship headed for Khor Fakkan, where full damage assessment will be carried out

    Casualties  tradewindsnews.com 14 Jun 01:55 GMT Dale Wainwright and Irene Ang

    Chemical company sues Tide Line over terminal crash

    A northern New Jersey chemical company is accusing the crew of a Greek-owned bulker of disobeying terminal rules and taking it out of commission for weeks last year. AdvanSix filed a $1.5m lawsuit in Norfolk, Virginia federal court Tuesday, alleging the 26,000-dwt Amazon (built 1997) damaged the pier at its Hopewell, Virginia terminal last June while loading ammonium sulfate destined for west Afr

    Legal  tradewindsnews.com 13 Jun 19:40 GMT Matt Coyne

    US blames Iran for twin tanker attacks off Fujairah

    The incident follows a pattern of behaviour since the US pulled out of a nuclear deal with Tehran, Pompeo says

    Casualties  tradewindsnews.com 13 Jun 18:35 GMT Matt Coyne

    Cruise majors plan to stay course in Middle East

    Six tankers have been attacked off Fujairah in the past month.

    Passenger ships  tradewindsnews.com 13 Jun 17:27 GMT Michael Juliano

    Vietnam benefits as trade war hits Chinese shipments

    Other Asian nations gain at neighbour's expense

    Liner  tradewindsnews.com 13 Jun 17:11 GMT Ian Lewis

    STX among Asian shipyards seeking MR tanker deals

    South Korea’s STX Offshore & Shipbuilding is among Asian yards hoping to win orders for MR tankers following its recent deal with Pacific Carriers for two 35,000-dwt product carriers. The Chinhae-based yard, which is working its way out of administration, has told brokers it is once again ready to start contracting ships in volume as it recovers from financial difficulties. Pacific Carriers retu

    Ship Sales  tradewindsnews.com 13 Jun 17:11 GMT Adam Corbett

    Klaveness Marine reveals juicy annual profit

    Klaveness Marine Holding had another successful year in 2018, which saw profit account for nearly half of its revenue. The Oslo-based private investment company, which is owned by Tom Erik Klaveness and his family, made most of its profits on property for the second year in a row. Klaveness Marine last year had a pre-tax profit of NOK 329m ($38.1m) against a NOK 365m profit in 2017. The operati

    Finance  tradewindsnews.com 13 Jun 17:11 GMT Trond Lillestolen

    China seizes Arctic agenda with unique ice-class skill set

    The world may be wary of a Chinese military strength, but Beijing’s ‘Silk Road on the Ice’ is a greater power play

    Dry cargo  tradewindsnews.com 13 Jun 17:10 GMT Bob Rust

    Shandong Shipping signs up for Vale-backed quartet

    Chinese owner orders newcastlemax bulkers at Qingdao Beihai against long-term COAs from Brazilian miner

    Dry cargo  tradewindsnews.com 13 Jun 16:27 GMT Irene Ang and Bob Rust

    AUDIO: Captain of Hyundai Dubai makes distress call

    Hyundai Merchant Marine confirms the authenticity of the audio message from Hyundai Dubai's captain.

    Casualties  tradewindsnews.com 13 Jun 16:03 GMT Max Tingyao Lin and Holly Birkett

    Global Ship Lease fixes two ships with 'top-tier' outfits

    One vessel will go to MSC, the other to Maersk.

    Liner  tradewindsnews.com 13 Jun 15:31 GMT Michael Juliano

    Tanker stocks follow oil prices upward in New York

    Listed owners show early gains as market begins to digest impact of latest attacks in Middle East Gulf.

    Tankers  tradewindsnews.com 13 Jun 14:32 GMT Joe Brady

    Trafigura in talks with Hyundai Heavy for LPG-fuelled VLGC duo

    Trader and shipowners move to support growing trend for fuel shift on large gas carriers

    Gas  tradewindsnews.com 13 Jun 14:09 GMT Lucy Hine

    George Economou offers to buy DryShips

    SPII Holdings is offering $4 per share in cash for New York-listed bulker player, which just acquired tanker pool operator Heidmar.

    Dry cargo  tradewindsnews.com 13 Jun 14:07 GMT Michael Juliano

    Flames doused on Frontline tanker after day of chaos

    Salvors have managed to extinguish a blaze on a Frontline tanker following an attack on two vessels in the Gulf of Oman on Thursday. Embed: Attack footage Rumours of torpedo attacks swirled in shipping circles from the early hours, as conflicting reports cast doubt on the fate of the 110,000-dwt Front Altair (built 2016) and the 27,000-dwt BSM-managed tanker Kokuka Couragous (built 2010) and the

    Tankers  tradewindsnews.com 13 Jun 14:04 GMT Gary Dixon and Holly Birkett

    Iran says tanker attacks 'suspicious'

    The attacks come during a visit from Japanese PM Abe and amidst Iran-US tensions

    Casualties  tradewindsnews.com 13 Jun 14:01 GMT Matt Coyne

    JB Ugland has profitable 2018 but shipping plays a bit part

    JB Ugland Group has reported strong annual results for 2018. But shipping, which was once key to the Ugland family's business activities, now plays a minor role in the company's results. Parent outfit JB Ugland Holding increased its pre-tax profits sharply in 2018 to NOK 319m ($36.9m), from NOK 247m ($29m) a year before. Operating revenues for the Grimstad-based privately owned company totalled

    Dry cargo  tradewindsnews.com 13 Jun 13:03 GMT Trond Lillestolen

    Diamantides and Ofer feast on auctioned Brightoil VLCCs

    Zodiac Maritime joins Greeks' hunt for Brightoil tankers auctioned in the Far East

    Ship Sales  tradewindsnews.com 13 Jun 12:35 GMT Jonathan Boonzaier and Harry Papachristou

    War risk underwriters face bill for Fujairah attacks

    US Iran sanctions could raise issues for insurers over salvage payments

    Insurance  tradewindsnews.com 13 Jun 11:57 GMT Adam Corbett and Gary Dixon

    Avin joins march of the makers with HHI suezmax order

    Vardinoyiannis-controlled company returns to the shipbuilding market after a seven-year break

    Tankers  tradewindsnews.com 13 Jun 11:55 GMT Irene Ang , Adam Corbett and Harry Papachristou

    Owners eyeing Gulf tanker loading with caution in poor market

    Attention turns to last done fixture and how loadings in the region might be affected.

    Tankers  tradewindsnews.com 13 Jun 11:55 GMT Lucy Hine and Max Tingyao Lin

    A ‘piracy’ case Blackbeard could only have dreamed of

    A sideways look at shipping by TradeWinds staff

    Legal  tradewindsnews.com 13 Jun 11:51 GMT TradeWinds staff

    Frontline's Hvide Macleod says tanker explosion cause unclear

    Salvage tugs on standby as investigation starts into the cause of devastating explosions.

    Tankers  tradewindsnews.com 13 Jun 11:34 GMT Julian Bray and Trond Lillestolen

    Mareel seals leaseback deal for 25 CTVs

    UK operator Mareel has announced a sale and leaseback deal with a transport fund for 25 crew transfer and wind farm support vessels (CTVs). Fred Olsen and N-O-S team on crew vessels The buyer is Flexam Invest, which specialises in shipping and logistics investments. Mareel, a subsidiary of Swedish offshore shipping company Northern Offshore Group (NOG), will manage and operate the ships off the

    Offshore  tradewindsnews.com 13 Jun 11:22 GMT Gary Dixon

    Petrofin says end of Greek lending drought is in sight

    Credit Suisse emerges as the leader in Greece’s ship financing for the fifth year

    Finance  tradewindsnews.com 13 Jun 11:21 GMT Harry Papachristou

    Sonangol and Clarksons Platou partnership set to end

    The Saragol Tankers cooperation with Sonangol and two groups of investors led by Clarksons Platou Project Finance is poised to come to an an end, TradeWinds has learned. The Angolan oil company had two tankers fixed on long-term charter to two different Norwegian firms. Stena Sonangol sees IMO 2020 gain for suezmaxes DSME boosted by $400m delivery of Sonangol drillship Some brokers claim that

    Tankers  tradewindsnews.com 13 Jun 10:50 GMT Trond Lillestolen

    Paulo d'Amico: western crude supply could be at risk

    Intertanko chairman Paolo d'Amico issued a stark warning to the world on Thursday following the attacks on two tankers in the Middle East Gulf. The Italian shipowner said in a statement: "Following two attacks on member vessels this morning, I am extremely worried about the safety of our crews going through the Strait of Hormuz. "We need to remember that some 30% of the world's (seaborne) crude

    Tankers  tradewindsnews.com 13 Jun 10:19 GMT Gary Dixon and Michael Juliano

    China, South Korea in ballast water pact

    Asia’s No 1 and No 4 economies have detailed more rules in enforcing the IMO Ballast Water Management Convention.

    Legal  tradewindsnews.com 13 Jun 10:07 GMT Max Tingyao Lin

    Frontline crew taken to Iran, Schulte crew on US navy ship

    Iranian rescue teams pick up Frontline crew, while the crew of Kokuka Courageous are on a US navy vessel.

    Casualties  tradewindsnews.com 13 Jun 09:06 GMT Gary Dixon

    OSM Maritime wins technical management contract for Hunter Group VLCCs

    Hunter Group has contracted OSM Maritime to undertake the full technical management of its state-of-the-art fleet "smart" VLCCs. Hunter Group bangs tanker drum as $196m double VLCC sale talks continue The eight vessels are currently under construction at DSME in South Korea and will be delivered towards the end of 2019 and into 2020. The Hunter vessels will be managed from OSM’s base in Arenda

    Tankers  tradewindsnews.com 13 Jun 08:54 GMT Holly Birkett

    Tanker Kokuka Courageous damaged but afloat

    All 21 crew from tanker are safe after abandoning ship following Gulf incident

    Tankers  tradewindsnews.com 13 Jun 08:40 GMT Lucy Hine

    Oil price spikes, Frontline shares up, after new Gulf tanker attacks

    Rises reverse recent declines due to trade worries and growing stockpiles

    Tankers  tradewindsnews.com 13 Jun 08:36 GMT Julian Bray

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    Frontline and Schulte tankers attacked off Fujairah

    'Successive explosions' reported as crews abandon vessels safely with no casualties reported.

    Casualties  tradewindsnews.com 13 Jun 06:39 GMT Gary Dixon , Lucy Hine , Julian Bray , Holly Birkett , Trond Lillestolen , Adam Corbett and Max Tingyao Lin

    Algoma hull holds the key for 3 Maj yard

    A partially completed bulker cancelled by a Canadian owner is vital if Croatian shipbuilder 3 Maj is to avoid bankruptcy, according to its CEO. Edi Kucan told the Poslovni website that hull 733, abandoned by Algoma Central Corporation last year, is 80% complete. 3 Maj bankruptcy decision postponed He wants the Croatian government to provide €120m ($134.8m) to finish this and three other vessels

    Shipyards  tradewindsnews.com 13 Jun 06:05 GMT Gary Dixon

    Singapore’s big guns say they are “ready for IMO 2020”

    BW Group, Maersk Tankers, Pacific Carriers, AET and PIL all set for 1 January deadline, says MPA.

    Legal  tradewindsnews.com 13 Jun 03:48 GMT Dale Wainwright

    BMT gains foothold in US offshore wind sector

    Two vessels will be deployed on Orsted’s coastal Virginia offshore wind project by 2020.

    Offshore  tradewindsnews.com 13 Jun 01:07 GMT Dale Wainwright

    Seacon goes on $80m raid for wide-beam Hammonia trio

    Singapore liner operator leads foray into German market by taking three boxships

    Liner  tradewindsnews.com 13 Jun 00:37 GMT Ian Lewis

    K Line plans to fit scrubbers to just 10% of its bulker fleet

    LNG bunkering, renewable energy and hydrogen can be the options to meet the IMO’s emissions targets for 2030 and 2050, according to the Japanese giant’s environmental chief

    Dry cargo  tradewindsnews.com 13 Jun 00:36 GMT Max Tingyao Lin

    Middle East buyers chase midsize bulker purchases

    Serenity buys ship from Triton Navigation, while details emerge on two S'hail panamax buys

    Ship Sales  tradewindsnews.com 13 Jun 00:36 GMT Jonathan Boonzaier

    Shipping has down day amid fears over trade, oil demand

    About 30 US-listed stocks slid but traders who can 'stomach the incredible short-term volatility' will be rewarded later this year, Jefferies analyst Randy Giveans says.

    Finance  tradewindsnews.com 12 Jun 21:44 GMT Michael Juliano

    Algoma closes $100m Oldendorff deal

    Algoma Central has closed a $100m deal with Oldendorff Carriers, bumping up its stake in the CSL International Pool while grabbing a trio of ships in the process. Algoma orders new bulker, posts first quarter loss The Canadian shipowner announced on Wednesday it now owns 40% of the pool, which counts Marbulk Shipping and CSL Americas as members. Additionally, Toronto-traded Algoma acquired the

    Dry cargo  tradewindsnews.com 12 Jun 17:49 GMT Matt Coyne

    Too early? Shipping investors have yet to price in scrubbers

    With IMO 2020 six months out, observers say it is likely to be too early for scrubbers to affect share prices

    Finance  tradewindsnews.com 12 Jun 17:08 GMT Matt Coyne

    Virgin Voyages appoints first female Canadian master

    The Tom McAlpin-led owner hires Wendy Williams to command Scarlet Lady for next year's inaugural season.

    Passenger ships  tradewindsnews.com 12 Jun 16:56 GMT Michael Juliano

    Wells Fargo: Orderbook closes in on 2022 LNG ship requirements

    Sufficient speculative LNG carrier newbuildings have been contracted to meet the expected needs of the market in 2022, according to Wells Fargo Securities analysts. In the latest issue of their “Bottoms Up LNG” report, the Michael Webber-led team said the uncommitted portion of the LNG orderbook has been gradually building and now represents “an increasing risk” at 23% of the fleet. LNG buyer la

    Gas  tradewindsnews.com 12 Jun 16:31 GMT Lucy Hine

    Christiania Shipping off to a flying start

    Chemical tanker specialist Christiania Shipping has risen from the ashes of its loss-making predecessor to report positive operating profit for 2018. Fifth generation of Eitzen family set to join Camillo Eitzen on comeback trail “In 2018, we have successfully implemented several changes to re-establish Christiania Shipping as an efficient and streamlined shipowner, charterer and operator," said

    Tankers  tradewindsnews.com 12 Jun 14:55 GMT Holly Birkett

    JP Morgan linked to LNG carrier newbuilding move

    Bank understood to be contracting its first vessels in the sector for energy major

    Gas  tradewindsnews.com 12 Jun 14:42 GMT Lucy Hine , Irene Ang and Joe Brady

    Suezmax earnings double those of VLCCs

    Healthy crude exports from West Africa, in particular Angola, are pushing suezmax earnings to the highest since February.

    Tankers  tradewindsnews.com 12 Jun 14:06 GMT Max Tingyao Lin

    Nordic American Tankers closes busiest period ever as things peek up

    Nordic American Tankers' "busiest period ... ever" has positioned it well for the pre-IMO 2020 rally, a letter from the company Wednesday said. "In 2Q2019, we have seen the normal seasonal downturn in that quarter," the letter read. "We expect a significantly improved tanker market ahead. After positive Q1, Nordic American Tankers shares soar "We must remember that political unrest is often goo

    Tankers  tradewindsnews.com 12 Jun 14:04 GMT Matt Coyne

    Pacific Green headhunts Oslo scrubber chief from rival

    US-listed scrubber supplier staffing up new Norwegian sales office

    Finance  tradewindsnews.com 12 Jun 14:04 GMT Paul Berrill

    Howe Robinson’s boxship guru Dowell to step down

    Paul Dowell is ready to hang up his boots after 22 years, but he believes the sector still has a lot to learn

    Liner  tradewindsnews.com 12 Jun 14:00 GMT Ian Lewis

    Hapag-Lloyd CFO to leave next year

    Hapag-Lloyd's chief financial officer Nicolas Burr is to leave the company next year to oversee new projects in South America. Hapag Lloyd PR man gets a ‘buzz’ over apiarist role Burr will take over new projects in Chile after he leaves the company on 29 February 2020, according to a release from the Hamburg-based boxship giant. "The supervisory board sincerely likes to thank Nicolas Burr for

    Liner  tradewindsnews.com 12 Jun 13:43 GMT Holly Birkett

    Supreme Court hands Swedish Club lifeline in bulker fire CTL appeal

    Controversial case handed back to high court to decide on payout from loss of Greek-controlled Renos in 2012 blaze.

    Legal  tradewindsnews.com 12 Jun 13:00 GMT Gary Dixon

    Kuehne+Nagel starts to rank liner services by carbon footprint

    Shippers are leading the fight against carbon emissions by choosing 'clean' liner services

    Liner  tradewindsnews.com 12 Jun 12:26 GMT Ian Lewis

    Lawsuit claims Valero may have provided defective fuel to more than 100 ships

    Refining giant blames Trafigura for off-spec fuel delivered to vessels

    Legal  tradewindsnews.com 12 Jun 11:39 GMT Matt Coyne

    Two TMK execs quit after groping and stalking claims

    Two executives from Lloyd's of London underwriter Tokio Marine Kiln (TMK) have resigned after allegations of sexual harassment were made. One was accused of groping colleagues at what was termed by a Bloomberg report as a "booze-fuelled party", while the other was alleged to have stalked a junior employee. The news comes three months after an investigation by the news agency into the “deep-seate

    Insurance  tradewindsnews.com 12 Jun 11:21 GMT Gary Dixon

    Advantage Tankers sues to free tanker

    Turkish shipowner Advantage Tankers is looking to recoup $10.3m in a Manhattan federal court over an alleged wrongful arrest in South Africa. According to court papers, the 156,644-dwt Advantage Sky (built 2010) has been held in Durban since last August, caught up in a controversy over legal disputes in New York state courts and London's High Court with the ship's previous owner. The defendant i

    Legal  tradewindsnews.com 12 Jun 11:02 GMT Matt Coyne

    Signposts to the future: Five things we learned from Nor-Shipping 2019

    Oslo found shipping at a crossroads, but underneath the anxiety there are reasons for optimism

    Finance  tradewindsnews.com 12 Jun 10:34 GMT Julian Bray

    Oshima Shipbuilding and DNV GL launch alternative-fuelled bulker design

    Oshima Shipbuilding and class society DNV GL have launched a new design of bulk carrier that would use half the energy of conventional vessels and utilises wind, LNG fuel, battery and solar power. DNV GL’s Knut Orbeck-Nilssen calls on shipping to keep safety at forefront of industry's mind DNV GL teams with Keppel on LNG newbuildings The Oshima Ultramax 2030 bulker design has an energy efficien

    Shipyards  tradewindsnews.com 12 Jun 10:22 GMT Holly Birkett

    FREE

    Vital global food production needs an ethical supply chain

    Swiss NGO Public Eye turns spotlight on traders’ role in generating seaborne agricultural cargoes — and the ships that are carrying them

    Dry cargo  tradewindsnews.com 12 Jun 09:56 GMT Geoff Garfield

    Euronav aims for bond tap

    Belgium's Euronav is preparing to tap into a bond issue to boost its funding. The Euronext-listed tanker giant said its subsidiary Euronav Luxembourg has arranged a fixed-income investor call for 13 June, with the help of Arctic Securities, DNB Markets and Nordea. A tap issue of its $150m senior unsecured bond issue may follow, subject to market conditions, it added. The company told TradeWinds

    Tankers  tradewindsnews.com 12 Jun 09:10 GMT Gary Dixon

    Meteor Management buys supramax and eyes growth into tankers

    Meteor Management, a Bulgarian shipmanagement company backed by commodities trader Eleen Marine, is expanding its supramax fleet and says for the first time it is considering investing in the tanker market. Meteor general manager Andrei Filipov confirmed that his company’s clients have bought the 55,400-dwt Eria Colossus (built 2008), which has been renamed Eleen Sofia. Brokers reported that Japa

    Ship Sales  tradewindsnews.com 12 Jun 09:07 GMT Harry Papachristou

    Geared handysize bulker sextet up for sale

    Six geared handysize bulkers are circulating in the sale-and-purchase market by their Cyprus-based owners, Greek brokers have reported this week. The vessels are the 37,000-dwt Western Aida, Western Boheme and Western Fedora (all built 2012), and the 37,400-dwt Western Carmen, Western Lucrezia and Western Tosca (all built 2013). The ships have been with the same owners since they were built at S

    Ship Sales  tradewindsnews.com 12 Jun 08:35 GMT Harry Papachristou

    Thomas Cooper scales up with Penningtons Manches merger

    UK shipping law firm gains access to resources of top 50 partner for international expansion.

    Legal  tradewindsnews.com 12 Jun 08:13 GMT Gary Dixon

    'Likely lad' Alan Wilson makes way for rising stars of the North

    North P&I Club managing director Alan Wilson has retired. Wilson, along with chief executive Paul Jennings, was associated with the dramatic growth of the protection and indemnity mutual over the past four decades. Insurer North P&I reshuffles senior staff More than $380m wiped off P&I mutuals’ free reserves The pair worked at the club as it grew from an insurer with just two million gt of shi

    Insurance  tradewindsnews.com 12 Jun 08:03 GMT Adam Corbett

    Ammonia-fuelled gas carrier design hoves into view

    Dutch-lead research project analyses how to safely introduce the gas as a marine fuel

    Gas  tradewindsnews.com 12 Jun 07:15 GMT Lucy Hine

    Wellard eyes ship sales as debt deal collapses

    Australian livestock carrier group Wellard is contemplating ship sales after a standstill deal with noteholders failed. The company had agreed the halt in April in respect of certain defaults existing under its notes. Algoma and Wellard ships cancelled at Uljanik This was scheduled to end on 30 September, with Wellard to grant certain security to the noteholders. But it has been unable to do t

    Finance  tradewindsnews.com 12 Jun 06:44 GMT Gary Dixon

    ABP wins approval to switch bond from Libor to Sonia

    UK port group becomes first borrower to secure bondholder approval for switch from discredited benchmark.

    Finance  tradewindsnews.com 12 Jun 06:17 GMT Dale Wainwright

    Novatek could build 17 new Arctic LNG carriers

    Novatek's Arctic LNG 2 project will need between 15 and 17 Arc7 LNG carriers, according to CEO Leonid Mikhelson. The Interfax news agency cited him as saying: "We're doing transhipment in Murmansk and Kamchatka, and we now need to decide the issue of transporting LNG to these points. Sovcomflot and Cosco agree Arctic LNG carrier joint venture "Calculations show that we probably need to build 15

    Gas  tradewindsnews.com 12 Jun 06:09 GMT Gary Dixon

    Brightoil VLCC and aframax sales raise over $200m

    Hong Kong tanker owner still has one VLCC, three aframaxes and six bunker tankers to be sold.

    Tankers  tradewindsnews.com 12 Jun 03:45 GMT Dale Wainwright

    Angelicoussis back at Daewoo for another LNG newbuild

    Greek owner takes year-to-date gas carrier order tally at favourite Korean yard to five.

    Gas  tradewindsnews.com 12 Jun 02:20 GMT Dale Wainwright

    Orbis takes bigger position in Golar

    Orbis Investment Management has grown its leading stake in Golar LNG to 10%. The Bermuda-based firm now owns more than 10.1 million shares of the gas carrier owner, up from the 8.9 million disclosed in February, according to Securities and Exchange Commission filings. Fresh contenders limber up as floating LNG comes of age The firm was founded by South African billionaire Allan Gray. The next

    Finance  tradewindsnews.com 12 Jun 01:12 GMT Matt Coyne

    Blank Rome attorney joins LISCR

    F. Humera Ahmed is joining the Liberian International Ship & Corporate Registry (LISCR) as vice president of legal and business development. Ahmed was previously an attorney at Blank Rome where she worked on both maritime and financial cases. Legal changes could enhance Luxembourg flag appeal for LISCR "Humera is a very energetic, self-confident, knowledgeable and proactive person," said regist

    Weekly  tradewindsnews.com 12 Jun 01:11 GMT Matt Coyne

    JERA spells out shipping structure as it shifts into LNG bunkering

    JERA splits its shipping business by charter length, procuring LNG vessels based on concluded free-on-board contracts and, or, tolling agreements. JERA executive officer Yuichiro Kato, who is in charge of LNG shipping, said economics and safety are high priorities when vessels are being evaluated, alongside charter term, tank size and propulsion. JERA to have 'inherent' exposure to LNG bunkering

    Gas  tradewindsnews.com 12 Jun 00:59 GMT Lucy Hine