Russia, China eye Arctic gas route cooperation

Russia and China look likely to team up on the development of an Arctic shipping route. The South China Morning Post cited Russia's ambassador to Beijing, Andrey Denisov, as saying that talks were advanced over the supply of Russian gas to China through a route known as Power of Siberia Two (the "western" route). “Almost everything has been completed so far but there is only one gap, which is th

Gas  tradewindsnews.com 19 Apr 11:39 GMT Gary Dixon

Nigerian owners hoping to tap into $3.5bn fund

The Ship Owners Association of Nigeria (SOAN) is hoping to access $3.5bn earmarked for fleet expansion. The money is coming from an oil and gas development fund administered by the National Content Development and Management Board (NCDB). SOAN president McGeorge Onyung told the Vanguard daily that NCDB had indicated $3.5bn is available for vessels connected to the energy sector. Nigeria is co

Finance  tradewindsnews.com 19 Apr 09:34 GMT Gary Dixon

Brightoil boss quits after being declared bankrupt

Brightoil Petroleum CEO and chairman Sit Kwong Lam has quit the company after being declared bankrupt in Hong Kong. The troubled VLCC owner's boss had provided a personal guarantee of more than $30m for goods Brightoil bought from Vietnam-owned trader Petrolimex Singapore last April. Petrolimex had applied for the bankruptcy order when the debt was not settled. It is also trying to wind up a Bri

Tankers  tradewindsnews.com 19 Apr 08:36 GMT Gary Dixon

Simon Toft's start-up Cornerstone seeks more tankers

Danish start-up Cornerstone Maritime is seeking more tonnage after agreeing a deal to take over its first managed tanker. The company has been founded by Simon Toft, its managing director and a former Maersk Brokers and Wonsild man. Toft has owned and run broker Casos Shipping for the last five years. It said on Friday it will manage the 15,900-dwt Ierax (built 1998) commercially from 10 May.

Tankers  tradewindsnews.com 19 Apr 08:00 GMT Gary Dixon

Three injured in fire on Sinotrans bulker

Three seafarers have suffered "significant burns" on a Sinotrans bulker off the UK. The men were rescued from the 93,000-dwt Great Aspirations (built 2010) near Lizard Point, Cornwall, on Wednesday. A search and rescue helicopter winched the Chinese men off the bulker. Two were taken to a specialist burns unit in Wales, while the other remained in a Cornish hospital. The Maritime and Coastguar

Casualties  tradewindsnews.com 19 Apr 07:41 GMT Gary Dixon

Hyundai LNG moves into VLGC sector with new order

Korea's Hyundai LNG Shipping (HLS) is expanding into the LPG sector with a new VLGC order at Hyundai Heavy Industries (HHI). The company said the 84,600-cbm ship will be delivered in the third quarter of 2020. It has a seven-year charter, plus options, lined up with a global energy company, it said. Hyundai grabs gas and tanker deals worth $600m The newbuilding contract has an optional ship at

Gas  tradewindsnews.com 19 Apr 07:26 GMT Gary Dixon

Seaboard Marine announces new Central America routes

Starting 8 May, Seaboard Marine will begin running ships between Central American and the Port of Savannah. The Miami boxship operator announced the new service this week, which will run both dry and refrigerated cargo. “We are excited about the opportunity to connect our brand of premium service forged over our 35-year history in Central America to this new domestic port,” said Jose Concepcion,

Liner  tradewindsnews.com 18 Apr 20:23 GMT Matt Coyne

Report: Greeks, American arrested, suspected of piracy

Nineteen alleged pirates — including three Greeks and an American — were arrested over the weekend in the Gulf of Guinea and suspected of stealing oil and illegal possession of firearms, according to local media. Lagos-based The Nation reports nine of the men were taken into custody during a joint operation between the Nigerian and US navies Sunday night. Pirates "effectively hijack" ship in Gul

Casualties  tradewindsnews.com 18 Apr 15:59 GMT Matt Coyne

Navios Maritime Holdings sells veteran bulk carrier

Angeliki Frangou’s Navios Maritime Holdings is said to have sold off one of its older bulk carriers. Navios says 'too early' to determine Vale effect If confirmed the deal would mark the latest step in its fleet renewal efforts, which have seen other older vessels sold of late. Brokers say the 53,500-dwt Navios Mercator (built 2002) has been bought by an unknown party for between $7m and $7.2m.

Dry cargo  tradewindsnews.com 18 Apr 15:23 GMT Andy Pierce

SEA\LNG and SGMF LNG emissions study raises questions

Industry coalition SEA\LNG and the Society for Gas as a Marine Fuel (SGMF) faced questions about the relevance of their newly commissioned "well-to-wake" study launched last week, which details that using LNG as a marine fuel can cut shipping's greenhouse-gas emissions by up to 21%. Well-to-wake_study.pdf (7.7MB) The 168-page report, entitled The Life Cycle GHG Emission Study, was conducted by

Gas  tradewindsnews.com 18 Apr 15:09 GMT Lucy Hine

Pertamina weighs up options to upscale West Java FSRU

Indonesian oil-and-gas giant Pertamina is looking at whether to replace an existing LNG carrier-to-floating storage and regasification unit conversion with a purpose-built newbuilding at the end of a charter contract and as import needs grow. Shipbuilding sources said Pertamina and its partners in the FSRU Nusantara Regas Satu, which is currently stationed off West Java, have been making enquirie

Gas  tradewindsnews.com 18 Apr 15:09 GMT Lucy Hine

Tanker arrest highlights PDVSA sanctions struggle

State-owned Venezuelan oil company faces a struggle to keep its fleet trading as US embargo makes it hard to keep the cash flowing

Legal  tradewindsnews.com 18 Apr 15:09 GMT Jonathan Boonzaier

Newbuilding orderbook lowest since start of shipbuilding boom, says Clarksons

Shipping’s newbuilding orderbook has shrunk to the lowest level in 15 years but it is now declining at a slower rate, according to data from Clarksons. CIC Changxing top as Clarksons reveals first ranking of busiest global repair yards Clarksons and FIS launch digital shipbroking platforms It counted 3,202 vessels of a combined 81.2m gross tons on order globally at the start of April this year,

Shipyards  tradewindsnews.com 18 Apr 14:44 GMT Andy Pierce

Only powers in Beijing can halt advance of Chinese shipping

If China wants its shipping companies to grow and not just swell, it needs to quit stifling creative leadership

Weekly  tradewindsnews.com 18 Apr 14:28 GMT Bob Rust

Capital Gas nudges up LNG carrier newbuilding total

Brokers link company to potential multi-year charter deal as new entrant looks to tie up tonnage haul

Gas  tradewindsnews.com 18 Apr 14:27 GMT Lucy Hine and Irene Ang

Norwegian Cruise Line Holdings' del Rio says US trumps China

Norwegian Cruise Line Holdings plans to keep a modest presence in China, despite great expectations for the cruise industry within the nation's emerging economy. The Miami-based cruise major is pulling its 3,883-berth Norwegian Joy (built 2017) out of the promising market this month after announcing in July that the built-for-China ship would redeploy to Alaska. Del Rio: Cuba selling 'like nothi

Passenger ships  tradewindsnews.com 18 Apr 13:18 GMT Michael Juliano

Zim joins Maersk blockchain drive

Israeli container line Zim has signed up to Maersk Line's and IBM's blockchain platform. It said TradeLens uses the encryption technology to enable trust between multiple trading partners. AP Moller-Maersk and IBM target year end for blockchain roll-out Members get a single shared view of a transaction without compromising details, privacy or confidentiality and can collaborate more efficiently

Liner  tradewindsnews.com 18 Apr 12:52 GMT Gary Dixon

Norden product tanker pair linked to leaseback deal

Copenhagen based Norden is reported to have sold two of its medium range (MR) product tankers under a charter back deal. Norden confirms sale of four bulkers as it goes asset-light Jan Rindbo: sale and purchase still part of Norden's DNA in asset light era The Nord Nightingale and Nord Snow Queen - both 38,000-dwt 2008 built vessels - are said to have been sold to leasing company Msea Capital o

Tankers  tradewindsnews.com 18 Apr 12:46 GMT Adam Corbett

Siem still keen on car carrier newbuild at crisis-hit Uljanik

Fate of 7,000-ceu ship hinges on Croatian shipyard sorting out its financial mess

Shipyards  tradewindsnews.com 18 Apr 12:16 GMT Geoff Garfield

Poland floats strategic FSRU enquiry as imports increase

Existing European importer diversifies cargo base with US volumes as it seeks alternative to pipeline gas supplies

Gas  tradewindsnews.com 18 Apr 12:16 GMT Lucy Hine

Greek shipowners turn to Chinese shipyards for aframax tanker newbuildings

China's growing reputation for building quality ships at low prices is luring shipping companies away from South Korea

Tankers  tradewindsnews.com 18 Apr 12:16 GMT Irene Ang

Hadjiyiannis clients snap up boxship pair from NYK Line

Interests linked to Andreas Hadjiyiannis have plucked their fourth and fifth containerships from Japan’s NYK Line. Brokers said clients of Hadjiyiannis’ Cyprus Sea Lines have bought the 6,492-teu sisterships NYK Athena and NYK Aquarius (both built 2003) for $15m each. However, TradeWinds understands that the actual acquisition price was quite a bit lower, possibly around $14m. Following deli

Ship Sales  tradewindsnews.com 18 Apr 12:15 GMT Harry Papachristou

AET’s dual-fuelled aframax bunkers first LNG in Rotterdam

Tankers fixed to Shell for Atlantic basin trading have range of 6,000 nautical miles running on gas

Gas  tradewindsnews.com 18 Apr 12:15 GMT Lucy Hine

Island Offshore lands Equinor well work

Norway's Island Offshore has clinched a contract to provide a light well intervention services vessel (LWI) for Equinor. A new agreement has been reached for the use of the 8,200-dwt support ship Island Wellserver (built 2008). Island signs up OSV trio for five years' work The vessel has been working for Equinor, formerly Statoil, since April 2009. The new deal starts in 2020, involving a one-

Offshore  tradewindsnews.com 18 Apr 11:36 GMT Gary Dixon

Shipowners’ Club reports $38m loss

A decline in investment income at protection and indemnity (P&I) mutual the Shipowners’ Club has put it into the red. The club reported a $37.9m loss in 2018 compared to a $47.4m surplus in the previous year. Shipowners also had a technical underwriting loss in 2018 with a combined ratio of 104% which was less than the 105% it had been predicting. A combined ratio in excess of 100% indicates mo

Insurance  tradewindsnews.com 18 Apr 11:33 GMT Adam Corbett

Bluships: Puma being unloaded in Rotterdam

German owner Johann MK Blumenthal (Bluships) has told TradeWinds its bulker Puma is being unloaded as scheduled in Rotterdam. The company said it was not aware of any problems after Dutch media and the FNV Havens union said dockers had refused to unload the 35,000-dwt ship (built 2017) due to an ITF inspector being denied access. Bluships confirmed the vessel had arrived in the Dutch port on Wed

Dry cargo  tradewindsnews.com 18 Apr 10:45 GMT Gary Dixon

Louis-Dreyfus: Greeks coming onboard with slow-steaming

Respected French shipowner says the industry is coming round to his ‘common-sense’ solution

Tankers  tradewindsnews.com 18 Apr 10:02 GMT Gary Dixon

Cosco Cinda fund sacks Jin Hai

A China Cosco Shipping investment fund has abruptly dismissed Dr Jin Hai, the Chinese-American ship finance man it recruited two years ago. The fund's managing company issued a terse public announcement of the move today. "You are hereby informed by letter that our company has dismissed Jin Hai from his duties as general manager, as of 29 March 2019," read the complete announcement by Cosco Cind

Finance  tradewindsnews.com 18 Apr 09:21 GMT Bob Rust

Novatek starts shipping from new small-scale LNG plant

Russian producer Novatek has begun to ship out LNG from its new small-scale plant in Vysotsk. This is according to shipping data from Refinitiv Eikon. Russia prepares to start up new LNG production plant Novatek and Gazprombank have not yet officially launched the Cryogas-Vysotsk plant, which has a capacity of 660,000 tonnes of LNG per year, Reuters reported. TradeWinds reported last month tha

Gas  tradewindsnews.com 18 Apr 08:57 GMT Gary Dixon

Belships at centre of S&P talk as it gears up with bulker buys

Oslo-listed bulker owner Belships has been the talk of the town after investor Frode Teigen acquired the company and merged it with his own Lighthouse Group in December last year. Belships has clicked into gear with a fresh round of purchases after recruiting Lars Christian Skarsgaard — the former head of sale and purchase at Fearnleys — as chief executive. This month, the company has confirmed

Dry cargo  tradewindsnews.com 18 Apr 08:54 GMT Trond Lillestolen

Navigare eyes options after fixing lone LNG newbuilding

Danish investment company Navigare Capital Partners has tied up its only LNG newbuilding to Japanese trading house Mitsui & Co as it considers its next moves on a series of outstanding optional slots that it holds. Navigare Capital managing partner Henrik Ramskov confirmed to TradeWinds that the company’s 174,000-cbm vessel, which is on order at Samsung Heavy Industries and due for delivery in 20

Gas  tradewindsnews.com 18 Apr 08:54 GMT Lucy Hine

Ocean Freighters offloads elderly panamax bulkers

Greek dry bulk player Ocean Freighters has shed its two oldest panamaxes in a fleet-renewal process that should see the company eventually replace them with modern kamsarmax tonnage. Piraeus market sources said the 76,300-dwt Pontovremon (built 2001) has been sold for a price exceeding $7m. Online shipping directories confirm that a transaction has taken place. The Tsuneishi Zosen-built ship is

Ship Sales  tradewindsnews.com 18 Apr 08:53 GMT Harry Papachristou

3 Maj bankruptcy decision postponed

A court in Croatia has postponed a decision on opening bankruptcy proceedings against Uljanik Group shipyard 3 Maj. The final hearing into the matter will be held on 5 June in Rijeka, the Xinhua news agency reported. The yard owes HRK 135m ($20m). It and Uljanik Shipyard are part of the troubled Uljanik Group, which has been hit by order cancellations and strikes. The Croatian government has r

Legal  tradewindsnews.com 18 Apr 08:41 GMT Gary Dixon

NGM Energy and Mercator renegotiate VLCC deal

Greek owner NGM Energy has finally clinched a deal with Mercator to buy a 13-year-old VLCC, at a price lower than initially negotiated. TradeWinds reported last December that Mumbai-based Mercator sold the Nacks-built 299,200-dwt Nerissa (built 2006) to NGM Energy for $34m. The Indian company confirmed in a statement in February that it was expecting to pay down $34.16m of its debt after sellin

Ship Sales  tradewindsnews.com 18 Apr 07:54 GMT Harry Papachristou and Trond Lillestolen

Top Ships asks judge to reject Kalani lawsuit

Evangelos Pistiolis-led owner says it did 'legitimate' transactions and disclosed everything, echoing defences raised by DryShips and Diana Containerships

Tankers  tradewindsnews.com 18 Apr 07:54 GMT Joe Brady

The writing is on the wall for the world’s old way of doing business

Shipping must learn to adapt as the political and economic norms we have taken for granted come under challenge from every direction

Finance  tradewindsnews.com 18 Apr 07:54 GMT Terry Macalister

Baltic Exchange's Jackson reveals data licence ace card

Unlicensed users of market information will find themselves without a leg to stand on

Legal  tradewindsnews.com 18 Apr 07:53 GMT Jonathan Boonzaier

Tsakos Group secures long-term charter for kamsarmax bulker newbuildings

The Tsakos Group’s “build responsibly” doctrine — where new ships are built only when backed by long-term employment — also appears to apply to its bulker orders. Two kamsarmaxes that Tsakos is due to take delivery of soon have been fixed by an unidentified charterer for two years, London-based brokers reported. The 82,000-dwt newbuildings Psarros D and Betty K (both built 2019) will earn $11,00

Shipyards  tradewindsnews.com 18 Apr 07:53 GMT Harry Papachristou

Eimskip to offload duo as RAL deal approved

A vessel sharing agreement (VSA) between Eimskip and Royal Arctic Line (RAL) has been approved by the Icelandic Competition Authority. Banker Porsteinsson takes over at Eimskip The Iceland and Greenland container lines want to run three 2,150-teu newbuildings together for services between the two countries, Scandinavia and the Faroes. Two ships are being built for Eimskip and one for RAL. They

Liner  tradewindsnews.com 18 Apr 07:50 GMT Gary Dixon

Damen Shipyards posts first loss in 15 years

Dutch group Damen Shipyards has logged its first annual loss in 15 years. It posted a deficit of EUR 17m ($19.2m) for 2018, blaming "a sustained period of difficulty in a number of maritime sectors and investments it has made in its future." Damen did not give a comparative figure for 2017. Damen Mangalia looking to recruit after orders boost Damen makes breakthrough into cruiseship sector "N

Shipyards  tradewindsnews.com 18 Apr 07:18 GMT Gary Dixon

d'Amico fined $4m after admitting US waste dumping

Italy's d'Amico Shipping Italia has been fined $4m after admitting oily waste dumping in the US. US authorities said the company pleaded guilty on Wednesday in Newark to violating the Act to Prevent Pollution from Ships. The charge involved the 40,000-dwt Cielo di Milano (built 2003) that called in New Jersey, Maryland and Florida a number of time in 2014 and 2015. Germany’s MST fined $3.2m ove

Legal  tradewindsnews.com 18 Apr 06:36 GMT Gary Dixon

MMA Offshore unveil senior management shake-up

New CEO Singapore bound as company sees “positive signs of a recovery” in offshore market.

Offshore  tradewindsnews.com 18 Apr 03:23 GMT Dale Wainwright

Coastal Oil handysize pair to go under the hammer

Singapore’s High Court to sell failed oil trader and tanker operator’s prime vessel assets

Legal  tradewindsnews.com 18 Apr 01:41 GMT Jonathan Boonzaier

Peruvian robbers beat up seafarer during bulker raid

Crews warned to be vigilant after port suffers second incident in less than a month.

Casualties  tradewindsnews.com 18 Apr 01:40 GMT Dale Wainwright

Ta-Ho Maritime mulls kamsarmax bulker order at Oshima Shipbuilding

Taiwan owner in discussions for up to three newbuildings as it continues fleet-renewal efforts

Dry cargo  tradewindsnews.com 17 Apr 21:47 GMT Irene Ang

Second FSRU for Bangladesh set to arrive on site this week

A second floating storage and regasification unit for Bangladesh is due to arrive on site at the end of this week. Excelerate Energy's newly renamed Summit LNG (ex-Excelerate, built 2006) switched its estimated time of arrival in the country to 20 April. Excelerate FSRU exits Abu Dhabi as pipeline delivers supplies The regasification unit, which has been stationed off Fujairah conducting sea tr

Gas  tradewindsnews.com 17 Apr 21:47 GMT Lucy Hine

Alan Hatton predicts smoother sailing for smaller ships post-IMO 2020

Foreguard Shipping managing director Alan Hatton expects operators of smaller-size ships to face less IMO 2020 volatility as few such vessels will be scrubber-fitted. This is in contrast to the larger-size segments, where scrubber-equipped vessels may or may not have the competitive edge over vessels that will run on low-sulphur fuel. Environment tops the agenda at Singapore Maritime Week Speak

Tankers  tradewindsnews.com 17 Apr 21:46 GMT Jonathan Boonzaier

Idan Ofer adds to product exposure with Scorpio Tankers investment

Billionaire’s overall stake boosted by purchase of one-quarter of the 5.4 million recently issued shares

Tankers  tradewindsnews.com 17 Apr 21:45 GMT Andy Pierce and Joe Brady

HNA Technology denies links to bulker trio asset play

Officials of China’s HNA Technology say three bulkers recently reported sold have not been disposed of and do not belong to them. Brokers said one or all of the 81,500-dwt FH Fang Cheng, 79,600-dwt FH Ri Zhao and 79,400-dwt Zhen Bang (all built 2015) have been committed for sale to unknown buyers in deals that were expected to close this week. The ships were all built at the sister yard now kno

Ship Sales  tradewindsnews.com 17 Apr 21:45 GMT Bob Rust

Chinese secondhand buyers turn to home-grown supramaxes

Tomini and PrimeBulk reportedly offload Dolphin 57s as Chinese buyers shun Japanese tonnage

Ship Sales  tradewindsnews.com 17 Apr 21:44 GMT Bob Rust

Shandong Marine Energy eyes growing LNG sector

Chinese energy trading concern inks MOUs with DSME and Mitsui & Co on future LNG business

Gas  tradewindsnews.com 17 Apr 21:44 GMT Irene Ang

Supramax buy could mark shift for Taylor Maritime

Ed Buttery’s firm has acquired its first larger ship but is not saying if it wants more

Ship Sales  tradewindsnews.com 17 Apr 21:43 GMT Bob Rust

Coast Guard warns mariners against marijuana use

The US Coast Guard is reminding mariners that no matter the legal status of marijuana at the state level, testing positive for the drug still has consequences. In a post to its Maritime Commons blog Tuesday, staff from the Coast Guard's Suspension & Revocation National Center of Expertise reminded mariners that even though 10 states and DC have legalized the drug and many more have approved medic

Legal  tradewindsnews.com 17 Apr 21:01 GMT Matt Coyne

ForestWave ship seized after alleged default

A Park Avenue investment firm is alleging ForestWave stiffed it on ship mortgage payments and paying back cash advanced to pay its crew. The 10,049 Momentum Scan (built 2010) is currently moored in the Buffalo Bayou in Houston after ICON Agent, security agent for companies connected to New York-based ICON Capital, filed suit in Houston federal court last week and had it seized. The suit alleges

Legal  tradewindsnews.com 17 Apr 18:35 GMT Matt Coyne

Giveans: Shipping stocks looking good in 2019

Fundamentals are driving up shipping stocks, according to Jefferies' Randy Giveans. In his Maritime Shipping Quarterly note released Wednesday, the analyst wrote that the Jefferies Shipping Index had shot up 16% since the start of 2019, despite a seasonal slowdown in the first quarter and early-year newbuilding deliveries. Wells Fargo lowers view on tanker stocks "The fundamental backdrop and o

Finance  tradewindsnews.com 17 Apr 18:33 GMT Matt Coyne

Sovcomflot nets firm prices for pair of tankers

Russian tanker giant Sovcomflot (SCF Group) looks to have banked firm prices for two elderly ships. The Russian owner has also sold the 47,000-dwt MR tankers Anichkov Bridge (built 2003) and Okhta Bridge (built 2004) to an undisclosed Taiwanese buyer for $10.8m each. VesselsValue says the MR tankers are worth $9.5m and $10.8m, respectively. Trio of BW LR2s head for time charters under Hafnia b

Tankers  tradewindsnews.com 17 Apr 16:39 GMT Trond Lillestolen

Avin International offloads second elderly product tanker for further trading

Greek tanker company Avin International is finding trading buyers for the type of vessels it had been scrapping over the last two years. The company sold nine consecutive ships for demolition between February 2017 and November 2018. In the past few weeks, however, it has shed two ageing product tankers for further trading, suggesting there is active market interest for such ships. TradeWinds a

Ship Sales  tradewindsnews.com 17 Apr 16:36 GMT Harry Papachristou

Smallest orderbook since 1997 has tankers set fair for 2020

The smallest tanker newbuilding orderbook this century is helping fuel expectations for a sharp spike in both rates and share prices during the next 12 months, according to Cleave Securities. New York's shipping newcomers tipped to shine among 'coiled spring' of maritime stocks International Seaways tanker in sweet spot as VLCC rates pass world scale 100 Analyst Joakim Hannisdahl says the tank

Tankers  tradewindsnews.com 17 Apr 16:12 GMT Andy Pierce

Vale mine reopening delivers 'very good news' for battered capesize market

News that Vale is about to re-open its Brucutu mine has buoyed the market for forward freight agreements (FFAs), but has piled pressure on iron ore prices. The Brazilian miner has announced operations would resume at Brucutu sometime before Friday, subsequent to a court decision. Production volumes from Vale's Northern System will, however, continue to be impacted because heavy rains in March a

Dry cargo  tradewindsnews.com 17 Apr 15:53 GMT Holly Birkett

Intermarine veteran Andre Grikitis departs as Zeaborn buys out New Mountain Capital

Intermarine’s major shareholder and its former chief executive are parting company with the The Zeaborn Group eight months after a deal which created one of the world’s largest MPP carriers. Zeaborn and Intermarine combine MPP, heavy-lift assets New 100-ship Zeamarine venture cleared to operate New Mountain Capital, which became the largest investor in Intermarine after the death of founder R

Finance  tradewindsnews.com 17 Apr 15:18 GMT Andy Pierce

Avenir explains shipyard swap for small-scale LNG carriers

Avenir LNG claims all parties are happy with its move to shift orders for two mini LNG carriers from Singapore-based Keppel Corp to Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering Co (SOE). Chief executive Andrew Pickering confirmed the small-scale start-up outfit had declared the two 7,500-cbm ships at Keppel, which were options on a pair of firm vessels under construction.

Gas  tradewindsnews.com 17 Apr 15:01 GMT Lucy Hine

Songa Bulk’s seismic merger is not Blystad push into offshore

Arne Blystad’s move into the seismic survey sector, following the merger of his Songa Bulk with Houston-based Axxis Geo Solutions, is not the start of a major drive in the offshore space. Arne Blystad moves into seismic sector with AGS merger Arne Fredly’s Hunter Group plots private placement as it closes in on debt financing Deal opens up new European investors for Star Bulk Oslo-listed Songa

Finance  tradewindsnews.com 17 Apr 15:00 GMT Trond Lillestolen and Gary Dixon

European political support grows for ship speed controls

A powerful multinational group is forming in support of speed reduction as a method for shipping to meet its carbon emission reduction targets

Casualties  tradewindsnews.com 17 Apr 14:59 GMT Adam Corbett

Navios Maritime Acquisition seals $103m leaseback deal

Navios Maritime Acquisition Corporation has struck a $100m plus refinancing package which leaves it without any debt maturing for more than a year. Navios Acquisition confident on refinancing and tanker market Navios Maritime Acquisition sells oldest VLCC to Nathalin New York-listed Navios Acquisition says the funds will come via a leaseback deal involving five of its tankers. It spans three m

Finance  tradewindsnews.com 17 Apr 14:33 GMT Andy Pierce

Keppel exec jailed for accepting bribes

A former Keppel Shipyard executive has been jailed in Singapore for accepting bribes. Senior procurement officer Neo Kian Siong, 63, banked more than SGD 740,000 ($547,000) from certain suppliers in exchange for revealing prices quoted by competitors, the Straits Times reported. Ex-Keppel execs arrested in Brazil bribery probe These suppliers were than able to submit a slightly lower quote to w

Legal  tradewindsnews.com 17 Apr 13:10 GMT Gary Dixon

Chinese appetite for scrap steel is a stealthy threat to capesize market

Forget Vale, look at China's use of scrap steel if you want a long-term view of capesize vessel demand, Bimco says.

Dry cargo  tradewindsnews.com 17 Apr 12:36 GMT Holly Birkett

Evergreen wins exemption for biggest ever Panama Canal transit

Taiwanese line Evergreen has won an exemption to allow it to carry out the biggest boxship transit of the Panama Canal. Its 14,424-teu neo-panamax Triton (built 2016), chartered from Costamare, will pass through the waterway on 15 May. It is the first 20-row-wide containership to make the transit, Alphaliner said. The vessel is 51.2 metres wide, but at 369m long, exceeds the maximum permitted l

Liner  tradewindsnews.com 17 Apr 12:32 GMT Gary Dixon

Equinor makes it three with Mokster charter

Norwegian oil major Equinor has fixed its third platform supply vessel (PSV) on a term deal in the last two days. Simon Mokster Shipping said its 6,000-dwt Stril Pioner (built 2003) has been booked for four months firm, with three two-month options attached. The deal starts in the second quarter. No rate was reported. Mokster said: "This is very gratifying for the shipping company and especiall

Offshore  tradewindsnews.com 17 Apr 11:43 GMT Gary Dixon

Trafigura forms petrochemical trading joint venture

Trader and tanker owner Trafigura Group is forming a new joint venture to trade petrochemicals. The focus will be on bulk liquid chemicals, it said. The venture has been set up with "senior executives from the petrochemical trading industry", including the current management team of Altis Group International. Altis will continue to trade from Houston, while the new Altis International (Singapor

Tankers  tradewindsnews.com 17 Apr 10:57 GMT Gary Dixon

Pirates fire shots after boarding arrested ABC product tanker

An ABC Maritime product tanker under arrest in Nigeria was boarded by armed pirates at Bonny River inner anchorage in Nigeria on Monday. Four attackers in a speed boat approached the Swiss-owned 7,600-dwt San Padre Pio (built 2012), which was seized by the Nigerian navy in January 2018 over unauthorised entry and illicit fuel trade. Two managed to board and fired shots with automatic weapons tow

Tankers  tradewindsnews.com 17 Apr 10:51 GMT Gary Dixon

‘Adapt or die’: Shipping alone not viable for analysts

Most pundits have already broadened their base into gas or other transport before Seaport Global terminated shipping coverage, but some remain edgy over the negative trend

Finance  tradewindsnews.com 17 Apr 10:22 GMT Joe Brady

Offshore slump sees huge vessels towering over Turkish shiprecycling centre of Aliaga

Rigs, heavylift ships and small containerships are keeping shiprecycler Adem Simsek busier than ever as his yard awaits for EU approval

Offshore  tradewindsnews.com 17 Apr 10:21 GMT Jonathan Boonzaier

d’Amico International Shipping banks over $48m from equity raise

d’Amico International Shipping has collected almost $50m from its second equity issue in three years. Paolo d’Amico sees strong demand for scrubber-fitted newbuilding d’Amico International Shipping in $50m equity raise backed by founding family Milan-listed DIS says 97.3% of investors took up subscription rights on the offering, which is designed to strengthen the company’s balance sheet. The

Tankers  tradewindsnews.com 17 Apr 09:30 GMT Andy Pierce

Mitsui OSK Lines snaps up stake in Reliance Industries VLEC series

Japanese giant Mitsui OSK Lines has teamed up with a mystery investor to buy into Reliance Industries’ six VLECs. Chinese buyer breathes life into VLEC newbuilding sextet First laden VLEC sails to launch new trade MOL cracks VLEC market MOL first linked up with Reliance to charter the vessels on Christmas Day 2014 while they are still under construction at Samsung Heavy Industries. Reliance t

Gas  tradewindsnews.com 17 Apr 09:05 GMT Andy Pierce

Karadeniz snaps up EMAS Offshore anchor-handler

Turkish group Karadeniz Holding has added an EMAS Offshore vessel to its fleet to support its Powership operations. MOL and Karadeniz team up on FSRUs and powerships The owner confirmed it has acquired the 220-bp anchor-handler Lewek Trogon (built 2008) for an undisclosed price. VesselsValue rates the previously laid-up ship as worth $6.5m. A Karadeniz spokesperson said the vessel would be use

Ship Sales  tradewindsnews.com 17 Apr 08:47 GMT Gary Dixon

Jinhui Shipping chairman raises shareholding for third time this year

Siu Fai Ng, director of Jinhui Shipping and Transportation, has added to his holding in the Hong Kong-based bulker owner for the third time this year. Ng purchased 17,472 of the company's Oslo-listed shares on Tuesday at an average price of NOK 7.8778 per share or NOK 137,641 ($16,266) in total. Jinhui Shipping offers hefty payouts for two top executives Jinhui Shipping chairman raises shareho

Dry cargo  tradewindsnews.com 17 Apr 08:46 GMT Holly Birkett

Jan Hagemann: Shipowners have 'a once in a lifetime opportunity'

Buy back debt from private equity funds now, says German financier, before it's too late

Finance  tradewindsnews.com 17 Apr 07:24 GMT Ian Lewis

Cerberus beefs up shipping team with key hires from German market

Private equity firm raids former HSH Nordbank and Peter Dohle for shipping expertise

Finance  tradewindsnews.com 17 Apr 07:24 GMT Ian Lewis

Can Beijing boost to Chinese economy raise spirits in capesize time-charter market?

Government efforts to stimulate the economy seem to be working, but other factors are creating headwinds for the dry bulk sector

Dry cargo  tradewindsnews.com 17 Apr 07:24 GMT Rebecca Galanopoulos Jones

More lines joining as digital shipping body debuts

A new digital shipping organisation for container lines is up and running - and talks are ongoing with potential new members. Maersk Line, Hapag-Lloyd, MSC and Ocean Network Express (ONE) are the founders of the Digital Container Shipping Association (DCSA) in Amsterdam. Big five lines team up to set common digital standards to accelerate expansion Liner giants plan trade association in digital

Liner  tradewindsnews.com 17 Apr 06:52 GMT Gary Dixon

Chief engineer killed in SCI suezmax fire

A seafarer has been killed and two others injured in a blaze on a suezmax tanker in India. The fire broke out on Shipping Corp of India's 147,000-dwt Maharaja Agrasen (built 1995) near Buchar island on 13 April. Two veteran crew killed in tanker fire Chief engineer Prakash Patyal died two days later, while the other two crew remained in intensive care, the Mid-Day website reported. They have b

Casualties  tradewindsnews.com 17 Apr 06:38 GMT Gary Dixon

Watch Spanish navy free hijacked ship

The Spanish navy has released a video of an operation in West Africa this week that rescued a cargoship from a pirate hijacking. The incident took place in the Gulf of Guinea. Pirates "effectively hijack" ship in Gulf of Guinea The navy said the unnamed Nigerian-flagged vessel was being held by nine gunmen. They had been on board for four days. The patrol vessel Serviola sent armed pe

Casualties  tradewindsnews.com 17 Apr 06:17 GMT Gary Dixon

Tor Olav Troim's Golar LNG nets funding for FLNG Gimi amid series of liquidity boosts

Tor Olaf Troim-backed outfit also receives notice to proceed with Croatian FSRU.

Gas  tradewindsnews.com 17 Apr 05:24 GMT Dale Wainwright and Andy Pierce

Samudera finally secures release of supramax bulker

Indonesian shipowner says vessel now heading to Panama hull cleaning and bunkering.

Legal  tradewindsnews.com 17 Apr 02:39 GMT Dale Wainwright

ReCAAP: Asian piracy levels sink to 13 year low

Indonesian ports show improvement, but concerns expressed about growing incidents off China.

Casualties  tradewindsnews.com 17 Apr 01:01 GMT Dale Wainwright

Intertanko’s proposal to cut sulphur was ahead of its time

I am convinced our plan would have provided a much better, cleaner outcome

Tankers  tradewindsnews.com 16 Apr 21:13 GMT Katharina Stanzel

Sanko Line orders first newbuilding in seven years

Sanko Line has turned to Japan’s Tsuneishi Shipbuilding for its first newbuilding order in seven years. The Tokyo-based shipowner has commissioned an 82,000-dwt bulker for delivery in the fourth quarter of 2020. Sanko disclosed the order for the scrubber-fitted vessel in a single-­line statement on its website last week but did not reveal the shipyard, the price or its motivation in placing the

Dry cargo  tradewindsnews.com 16 Apr 21:12 GMT Irene Ang

Haji-Ioannou company sues Sri Lankan state oil company

A company linked to Cypriot billionaire Polys Haji-Ioannou is suing Sri Lanka's state oil company for $8m, alleging unpaid bills and a wrongful arrest. Argos Shipping, registration company for 34,995-dwt Argos (built 1996), filed suit in Houston federal court Monday alleging Ceylon Petroleum Corp chartered the tanker, failed to make agreed upon payments, then had the ship arrested in Sri Lanka an

Legal  tradewindsnews.com 16 Apr 19:27 GMT Matt Coyne

US port ban on Carnival ships could be 'catastrophe'

Federal judge may temporarily prohibit Arnold Donald-led company for violating probation linked to environmental offences.

Passenger ships  tradewindsnews.com 16 Apr 19:01 GMT Michael Juliano

Lawsuit: OHT ship damages Navy newbuild in crash

A crash involving an Offshore Heavy Transport ship did more than $60m in damage to Huntington Ingalls' Mississippi shipyard and an under-construction US Navy warship, a lawsuit filed in federal court last week alleges. The suit accuses the 64,900-dwt Hawk (built 1989) of losing control as it delivered a floating drydock to the US shipbuilder's Pascagoula, Mississippi facility 29 March, hitting a

Legal  tradewindsnews.com 16 Apr 17:25 GMT Matt Coyne

Scorpio Bulkers strikes sale-and-leaseback for six more ships

Emanuele Lauro-led bulker player has agreed to sell the ships to Chinese conglomerate AVIC International.

Dry cargo  tradewindsnews.com 16 Apr 16:30 GMT Michael Juliano

Endre Rosjo builds R-Bulk fleet as it returns to profit in 2018

The Norwegian investor Endre Rosjo is boosting the fleet of the limited partnership R-Bulk. The company, in which Rosjo has a 75% stake, has bought the Oshima built 50,000-dwt Yunga (built 2010), its annual report says. Expanding M&M Bank seeks to raise more equity Rosjo joins big guns at M&M Bank UK based online platform VesselsValue says the bulker is worth 12.7m. The purchase came during

Dry cargo  tradewindsnews.com 16 Apr 14:59 GMT Trond Lillestolen

Feline stowaway survives a month in a container

An orange tabby cat has pulled off an astonishing feat of endurance by surviving a whole month in a container being shipped from China to Canada. The emaciated six-year-old female was found among pallets and foam pellets in a box that arrived in Vancouver from Shenzhen. CBC cited the animal charity SPCA as saying the animal had no food or water. So how did it stay alive? By licking the condensa

Weekly  tradewindsnews.com 16 Apr 14:22 GMT TradeWinds staff

Cargill forecasts upside in bulker rates despite current market weakness

Trading giant says recovery in Brazilian and Australian iron-ore exports and a US-China trade deal can push up earnings later this year

Dry cargo  tradewindsnews.com 16 Apr 13:44 GMT Max Tingyao Lin

NAO PSV out of winter layup for Apache deal

Emanuele Lauro-led Nordic American Offshore (NAO) has brought a platform supply vessel (PSV) out of winter layup for a new term contract. Public offshore firm was never the plan, says Emanuele Lauro Apache has awarded a trio of one-year deals for work off the UK, Seabrokers said, with the 4,200-dwt NAO Thunder's (built 2013) contract starting in May. Broker Westshore lists the ship as fixed to

Offshore  tradewindsnews.com 16 Apr 12:48 GMT Gary Dixon

Layup list to shrink as PSVs bask in endless summer

Clarksons Platou Securities is tipping a big fall in laid-up platform supply vessels (PSV) as a buoyant North Sea market basks in an "endless summer." Turner Holm, managing director of equity and credit research, and analyst Sven Sele, said the sector is "unseasonably strong", with 2019 the strongest first quarter for spot rates since 2014. Pareto finally offloads PSV trio SD Standard Drilling

Offshore  tradewindsnews.com 16 Apr 12:44 GMT Gary Dixon

Tristar confirms six chemical tankers at Hyundai Mipo

The Dubai-based Tristar Group confirmed it has ordered six 25,000-dwt IMO type 2 chemical tankers at Hyundai Mipo Dockyard (HMD) for delivery between 2020 and 2021. The ships have been placed under a long-term charter contract from oil major Shell and it is understood the order involves Eships, the tanker arm of Tristar. Meiji Shipping back at Hyundai Mipo for Shell product tankers Eugene Mayne

Tankers  tradewindsnews.com 16 Apr 11:30 GMT Adam Corbett

IMO 2020 switch won’t be pretty, says Koch Supply & Trading executive Andrew Smiley

Shipping vice president says frustration will be felt months ahead of deadline as traders and charterers try to keep using high-­sulphur fuel for as long as possible

Tankers  tradewindsnews.com 16 Apr 11:27 GMT Joe Brady

Fred Cheng breaks 2019 capesize sales drought with flurry of activity

The longest recorded lull in capesize S&P activity may have come to an end — but don't expect a meaningful upturn any time soon, brokers say

Ship Sales  tradewindsnews.com 16 Apr 11:18 GMT Holly Birkett and Andy Pierce

Pareto finally offloads PSV trio

Norway's Pareto has finally succeeded in selling three platform supply vessels (PSVs) acquired from Bourbon seven years ago. Brokers said the 3,300-dwt Antenor, Asterie (both built 2004) and Bourbon Atlantide (built 2003), owned by Pareto's 3B Offshore, have gone for $0.88m each. Clarksons said A1 Offshore of Denmark has snapped up Antenor and Bourbon Atlantide, with Asterie going to Raj Shippin

Offshore  tradewindsnews.com 16 Apr 10:18 GMT Gary Dixon