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Category: splash24x7

  • CMA CGM buys into Egyptian inland port

    CMA CGM buys into Egyptian inland port French shipping and logistics giant CMA CGM has agreed to buy a 35% stake in Egypt’s October Dry Port (ODP). Officially launched in November 2023, ODP is Egypt’s first dry port and the first public-private partnership project in the Egyptian transport sector under the EBRD Green Cities program.…

  • Seacon flips leased product tanker to SeaKapital

    Seacon flips leased product tanker to SeaKapital China’s Seacon Shipping is selling a bareboat chartered modern chemical and oil products carrier to Hong Kong shipowner and leasing specialist SeaKapital. The Hong Kong-listed, Qingdao-based owner and operator has struck a deal to offload the 2021-built 34,800 dwt MR1 Golden Daisy for roughly $32.9m. Seacon will first…

  • Wisdom Marine ships out bulker brace

    Wisdom Marine ships out bulker brace Taiwanese owner and operator Wisdom Marine has confirmed the sale of two Japanese-built bulkers for about $36m in total. The Taipei-based company is offloading the 2011 Shin Kasado Dock-built ultramax Amis Wisdom III and the 2015 Shimanami-built handysize Bunun Hero. The ultramax is going to China’s Arm Shipping for…

  • Centrofin books four suezmaxes at Samsung Heavy

    Centrofin books four suezmaxes at Samsung Heavy Greece’s Centrofin has added tanker newbuildings to its orderbook in a deal with South Korean yard Samsung Heavy Industries. Shipbuilding sources have placed the Dimitris Procopiou-led company behind the order for four suezmaxes at about $83m per ship. Samsung announced the order without disclosing the owner, with deliveries…

  • Yangziyang Financial in bulker newbuilding move

    Yangziyang Financial in bulker newbuilding move Yangzijiang Financial Holding has returned to Jingjiang Nanyang Shipbuilding with a newbuilding project in the handysize dry bulk segment. Shipbuilding sources have placed the Singapore-listed company behind an order for four firm 40,000 dwt vessels with delivery in 2027 and 2028. The spinoff of China’s largest private shipyard, Yangzijiang…

  • Atlas and EMF cash in on car carrier newbuilds

    Atlas and EMF cash in on car carrier newbuilds Greek owner Atlas Maritime and Danish shipping investment firm European Maritime Finance (EMF) have confirmed a lucrative asset play involving at least one of their car carrier newbuildings. The duo has revealed the delivery of the 7,000 ceu Electric Star to Noatum Maritime for an undisclosed…

  • Cyan’s Sentinel Marine contracts MPSV newbuilds in China

    Cyan’s Sentinel Marine contracts MPSV newbuilds in China Aberdeen-based offshore support vessel specialist Sentinel Marine is expanding its fleet through a deal with China’s Jiangmen Hangtong Shipbuilding for up to four multipurpose newbuildings. The shipbuilding contract involves one firm 65-m energy support vessel with options for three more units. The newbuild, which takes the company’s…

  • CMT offloads bulker as fleet renewal rolls on

    CMT offloads bulker as fleet renewal rolls on Taiwan’s Chinese Maritime Transport (CMT) is shipping out one of its large bulk carriers. The owner of 13 vessels spread across capesize and newcastlemax segments is selling an unnamed unit to Ever Prosperity Shipping in Singapore for $17.65m. The company’s fleet list and VesselsValue pricing data suggest…

  • Contentious late night IMO meeting ends in stalemate

    Contentious late night IMO meeting ends in stalemate Splash has obtained the contentious draft text regarding how shipping will pay for its green transition, with news that a flat levy is very much off the agenda at the International Maritime Organization (IMO). A draft legal text on a package of regulations for the implementation of…

  • World’s largest ECA to stretch from Portugal to Greenland

    World’s largest ECA to stretch from Portugal to Greenland At this week’s Marine Environmental Protection Committee (MEPC) meeting held at the International Maritime Organization (IMO), the world’s biggest emission control area (ECA) has been agreed upon.  The new Northeast Atlantic ECA, due by 2027, stretches along coastlines from Portugal to Greenland (see map below), joining…

  • Uptick in blank sailings as US and China trade tariff blows

    Uptick in blank sailings as US and China trade tariff blows Global supply chain managers are having to contend with more blanked container sailings as the world’s top two economies show no sign of giving ground in an escalating trade war. China responded today to US president Donald Trump’s cumulative 145% tariffs, placing 125% tariffs…

  • US targets UAE-based Indian in latest Iranian sanctions

    US targets UAE-based Indian in latest Iranian sanctions The Trump administration’s so-called maximum pressure campaign on Iran has turned its attention to Jugwinder Singh Brar, an Indian national based in the United Arab Emirates, who owns the companies Prime Tankers and Glory International. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC)…

  • F. Laeisz revealed as Belships co-investor

    F. Laeisz revealed as Belships co-investor German owner F. Laeisz has emerged as a co-investor in the takeover of Norwegian dry bulk player Belships. The Nikolaus Schües-led shipping group has snapped up a 25.01% stake in the ultramax specialist following the public takeover launched by asset management firm EnTrust Global and its vehicle Blue Northern.…

  • Subsea7 extends fixture for Eidesvik JV vessel

    Subsea7 extends fixture for Eidesvik JV vessel Subsea7 has extended the contract with Eidesvik Seven Chartering, the company’s joint venture with Norwegian owner Eidesvik, for the subsea vessel Seven Viking. The Oslo-listed offshore engineering and services player has exercised the remaining option for 2026 and added 2027 as another firm year. The deal for the…

  • North Korean iron ore shipments spark sanctions

    North Korean iron ore shipments spark sanctions The government of South Korea has imposed sanctions on a non-flagged vessel the country seized for illegally transporting iron ore produced in North Korea. Sanctions were also imposed on two Chinese nationals, Sun Zhengzhe and Sun Feng, who operated the ship and Russian company LLC Consul DV, which…

  • Tariffs on China set to dramatically alter US trade flows

    Tariffs on China set to dramatically alter US trade flows Supply chain planners are busy booking shipments from non-Chinese destinations into the US today following last night’s tariff surrender by Donald Trump, the American president.  Trump announced a 90-day pause for countries hit by higher US tariffs amid financial turmoil and a weakening dollar in…

  • Trump signs Make Shipbuilding Great Again executive order

    Trump signs Make Shipbuilding Great Again executive order US president Donald Trump has signed a well-telegraphed executive order aimed at resuscitating American shipyards while also limiting China’s dominant influence on the sector. Acknowledging the US’s less than 1% global shipbuilding market share yesterday, Trump said: “Rectifying these issues requires a comprehensive approach that includes securing…

  • Keep watching the bond curve

    Keep watching the bond curve Andrew Craig-Bennett with financial advice for shipowners amid the Trump market gyrations. Donald Trump has just backed away from the abyss – denying, of course, that he is doing any such thing – and, while adding yet more tariffs to imports from China to the US, he has announced a…

  • Fire hits German boxship off Dutch coast

    Fire hits German boxship off Dutch coast A rescue mission is underway in the Dutch North Sea after an explosion triggered a fire on board a German-owned containership. The 1,368 teu 2009-built Victoria L suffered a blaze in the engine room around 13.00 hrs local time near Hoek van Holland. Two helicopters and multiple vessels…

  • Bibby unit lines up $25m vessel finance for smaller owners

    Bibby unit lines up $25m vessel finance for smaller owners BFS Marine Finance, part of Bibby Line Group’s independent funder Bibby Financial Services, has lined up £20m ($25m) to support smaller businesses within the commercial marine sector. A structured facility has been agreed with the British Business Bank to provide secured financing for fleet renewal,…

  • DOF secures CSV work offshore Australia

    DOF secures CSV work offshore Australia Norwegian offshore vessel owner DOF has won a contract award for subsea mooring installation services in the Asia-Pacific region. The contract will utilise the 2010-built construction support vessel (CSV) Skandi Hercules with related moorings and installation subsea services. The scope of work includes DOF’s in-house project management and engineering,…

  • HSM Offshore bags substation deal for 960MW UK offshore wind farm

    HSM Offshore bags substation deal for 960MW UK offshore wind farm ScottishPower Renewables, part of Spain’s Iberdrola, has awarded an engineering, procurement, construction, installation, and commissioning contract for work on the East Anglia Two offshore substation and jacket foundation to HSM Offshore Energy. HSM will deliver the 5,100-tonne offshore high-voltage substation and its 3,700-tonne jacket…

  • Trump leaves this week’s green talks at IMO up in smoke

    Trump leaves this week’s green talks at IMO up in smoke Donald Trump has done to the International Maritime Organization what he did to the Paris Agreement, in choosing to distance the US this week from ongoing talks over a global carbon levy on shipping. The most eye-catching scene from the ongoing 83rd gathering of…

  • How Trump’s new economic order risks sinking green shipping

    How Trump’s new economic order risks sinking green shipping Matt Kenney, the head of Laureate Communications, warns readers on how Trump’s economic policies could sideswipe the most ambitious maritime transformation in a generation. Let’s begin with a truth so plain it should not require reiteration: President Trump’s tariff agenda is not a tantrum, nor a…

  • Euroseas seals long-term boxship charter at bumper rate

    Euroseas seals long-term boxship charter at bumper rate Greek containership owner Euroseas has bagged an improved long-term charter contract for one of its feeder vessels. The 2024 HD Hyundai Mipo-built 1,800 teu Monica has been fixed for two years plus two months of options at 23,500 per day – up from $16,000 the ship is…

  • Stena Drilling drillship wins more work off Suriname

    Stena Drilling drillship wins more work off Suriname Stena Drilling, the Aberdeen-based business of Sweden’s Stena, has won a contract for one of its drillships with subsidiaries of Shell in Suriname. The contract for the campaign was awarded to the 2008-built Stena DrillMax drillship by Shell subsidiaries KE STP Company and BG International. The deal…

  • World’s largest suction sails installed on juice carrier

    World’s largest suction sails installed on juice carrier Spanish suction sails developer bound4blue has installed the world’s largest suction sails to the Wisby Tankers-owned, 2014-built Atlantic Orchard juice carrier, currently under charter by Louis Dreyfus. The four 26-meter high eSAILs were installed in under a day per unit during the vessel’s 10-year survey at Astander…

  • Liners draw up defensive measures in their armoury to fight Trump’s tariff war

    Liners draw up defensive measures in their armoury to fight Trump’s tariff war Global container growth is set to head into a hard reverse this year on the back of the tariff war initiated by Donald Trump, the American president, which is already seeing noticeable cargo booking cancellations in Asia.  In a post on his…

  • Borr Drilling jackup scores 120-day contract in Benin

    Borr Drilling jackup scores 120-day contract in Benin Lime Petroleum, a subsidiary of Singapore-based Rex International, has hired a Borr Drilling-owned jackup rig for work off Benin. The oil and gas player signed a deal with a Borr Drilling subsidiary for the Gerd jackup, which will be used to work for 120 days. The rig…

  • Performance Shipping pens potential aframax sale deal

    Performance Shipping pens potential aframax sale deal Greece’s Performance Shipping has entered into a forward sale and exclusivity agreement with an unaffiliated third party for an aframax tanker. Under the agreement, the buyer ensured exclusive rights to submit a bid for the conversion of the P. Sophia tanker in an auction for the provision of…

  • ZIM fixes Economou and Ofer 11,500 teu newbuild series in $2.3bn deal

    ZIM fixes Economou and Ofer 11,500 teu newbuild series in $2.3bn deal Israeli carrier ZIM is bringing in 10 LNG dual-fuel containership newbuilds on long-term charter. The New York-listed company has struck deals worth in total about $2.3bn with George Economou’s TMS Group and a shipping player affiliated with Idan Ofer’s Kenon Holdings for a…

  • France risks missing offshore wind target without policy reform

    France risks missing offshore wind target without policy reform France is currently on course to miss its offshore wind installation target unless permitting and a more favourable investment climate is created, a new research claims. The Institute for Energy Economics for Financial Analysis (IEEFA) claimed in its new paper that France has a very low…

  • Western Bulk Chartering sells five-year-old ultramax

    Western Bulk Chartering sells five-year-old ultramax Norwegian dry bulk operator Western Bulk Chartering has sold one of its ultramax vessels to an undisclosed buyer. The company said in an Oslo Bors filing that it sold the 2020-built, 63,500 dwt Western Fuji. The Norwegian firm claimed that it realised a net profit of approximately $1.5m, following…

  • Odfjell eyes up to a dozen newbuilds in fleet renewal drive

    Odfjell eyes up to a dozen newbuilds in fleet renewal drive Norwegian chemical tanker owner and operator Odfjell is forging ahead with fleet transition plans that could likely see up to a dozen additional newbuildings join the fleet in the future. The Oslo-listed company revealed in its annual report it is considering a potential construction…

  • Purus signs for LNG carrier newbuild in South Korea

    Purus signs for LNG carrier newbuild in South Korea Purus Marine has contracted an LNG carrier newbuild in South Korea. Brokers have named the UK-based owner behind a newbuilding contract announced by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) last week. HD Hyundai Samho will build the 180,000 cu m unit for about $262m,…

  • Berge Bulk takes stake in Genco

    Berge Bulk takes stake in Genco Singapore-based owner Berge Bulk has revealed a considerable ownership of stock in the US dry bulk player Genco Shipping & Trading. A filing to the US Securities and Exchange Commission showed that Berge Bulk’s vehicle Kibo Investment had picked up 3.13m shares in Genco, corresponding to a 7.3% stake.…

  • Peder Simonsen made permanent CEO of Golden Ocean

    Peder Simonsen made permanent CEO of Golden Ocean Peder Simonsen, the acting chief executive of bulker owner Golden Ocean, will continue in the role on a permanent basis. Golden Ocean’s chief of finance, Simonsen, was named interim CEO of the Nasdaq- and Oslo-listed owner of more than 80 bulkers last May when Lars-Christian Svensen decided…

  • Eneos Drilling seals jackup deal in Vietnam

    Eneos Drilling seals jackup deal in Vietnam Japanese offshore contractor Eneos Drilling has secured employment for one of its jackup rigs in Vietnam. The Tokyo-based subsidiary of Eneos Xplora has fixed the 2018-built Hakuryu-14 to Japan Vietnam Petroleum Company for work on two wells in Block 15-2 offshore Vung Tau. The contract is set to…

  • Octopus Energy buys into UK offshore wind farm

    Octopus Energy buys into UK offshore wind farm UK-based Octopus Energy has made another investment in the offshore wind sector, this time via the acquisition of a 10% stake in the East Anglia One wind farm. The 714MW wind farm is located 43 km off the coast of Suffolk in the East of England and…

  • China slaps retaliatory tariffs on all US goods

    China slaps retaliatory tariffs on all US goods After US president Donald Trump imposed tariffs on countries across the world earlier this week, it did not take much time for Beijing to return the favour. The Chinese authorities said on Friday that the country would impose 34% tariffs on all imports from the US starting…

  • Ningbo Ocean Shipping chairman resigns

    Ningbo Ocean Shipping chairman resigns Ningbo Ocean Shipping Co (NBOSCO) has announced that Zongquan Xu is stepping down as chairman and will no longer serve as a member of the company. The director and manager at Zhejiang Seaport Shipping is leaving the Shanghai-listed subsidiary of Ningbo-Zhoushan Port Group after four years at the helm. In…

  • Atlantica PSV fixed to Shell

    Atlantica PSV fixed to Shell Oslo-based Atlantica Shipping has seen one of its platform supply vessels contracted long-term in UK waters. Shell is taking the 2003-built Skandi Caledonia on hire for at least one year, with further extension options attached to the contract. The PSV, acquired by Atlantica in 2023 from DOF, which continues to…

  • Global shipping ‘stifled’ by Trump’s tariffs

    Global shipping ‘stifled’ by Trump’s tariffs Shipping stocks remain under severe pressure today as the world comes to terms with the immensity of Wednesday’s tariff announcements from US president Donald Trump.  The average US tariff rate has now been set at just under 25%, levels not seen since the 1930s and the days of the…

  • Dong Fang Offshore orders subsea construction vessel at Vard

    Dong Fang Offshore orders subsea construction vessel at Vard Taiwanese owner and operator Dong Fang Offshore (DFO) has returned to Fincantieri-controlled Norwegian shipbuilder Vard for at least one subsea construction vessel. The subsidiary of Hung Hua Construction, with a fleet of more than 15 offshore vessels, is paying €113.5m ($126m) to see the firm vessel…

  • Nova Marine Carriers forms shipping venture with steelmaker Marcegaglia

    Nova Marine Carriers forms shipping venture with steelmaker Marcegaglia Italian-Swiss dry bulk group Nova Marine Carriers has established a joint venture with Marcegaglia for shipments of raw materials to the manufacturing sites of the Italian steelmaker. The jv called NovaMar Logistic will take over the management of the 2012-built open hatch 26,300 dwt handy bulker…

  • Trump ignites global trade war, major economies vow retaliation

    Trump ignites global trade war, major economies vow retaliation US president Donald Trump has slapped additional tariffs of 34% on imports from China, also hitting emerging manufacturing powerhouses like Vietnam and Cambodia hard, while targeting European Union imports with 20% tariffs, and adding a baseline of 10% on most goods imported to the US. As…

  • British maritime law firms merge

    British maritime law firms merge UK specialist maritime law firms Tatham & Co and Sea Green Law have merged into a single 22-lawyer practice. The combined entity began operating on April 1, 2025, under the Tatham & Co name. The company will be jointly led by lead partners Stephen Askins and James Hickland from Tatham…

  • US targets Russian interests moving stolen Ukrainian grain to fund the Houthis

    US targets Russian interests moving stolen Ukrainian grain to fund the Houthis The Trump administration has targeted Russian interests over grain theft from Ukraine used to support funding for the Houthis in Yemen.  The US Office of Foreign Assets Control (OFAC) yesterday added additional persons and companies to its sanction list as these were identified…

  • Saipem rakes in $720m for work in Middle East and Guyana

    Saipem rakes in $720m for work in Middle East and Guyana Italian offshore engineering and construction giant Saipem has won two brand new contracts worth approximately $720m. The first contract encompasses the engineering, procurement, construction, and installation activities for the repair of damaged subsea pipelines for an unnamed major client in the Middle East. The…

  • HD KSOE confirms Angolan suezmax orders

    HD KSOE confirms Angolan suezmax orders HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has firmed up a deal with Sonangol for a pair of suezmax tanker newbuildings. The shipbuilding intermediate holding company of HD Hyundai said in a filing the Angola state-controlled oil company is paying $176m to see the 157,000 dwt duo delivered…

  • Trump’s ‘Liberation Day’ arrives

    Trump’s ‘Liberation Day’ arrives Donald Trump is expected to announce sweeping tariffs in a statement at the White House Rose Garden at 16:00 EST this afternoon, branding today as ‘Liberation Day’ in the latest economic shock to hit global seaborne trades in the opening months of his return to power. The scope and scale of…

  • A.P. Moller Holding moves to take Svitzer private

    A.P. Moller Holding moves to take Svitzer private Denmark’s A.P. Moller Holding (APMH) has made an all-cash offer to take towage operator Svitzer private. The offer, valued at about $1.3bn, comes at nearly a 32% premium to Tuesday’s closing share price in Copenhagen. APMH holds 47% of shares in Svitzer, which demerged from Maersk last…

  • Geneva Dry Dialogues: Seaber

    Geneva Dry Dialogues: Seaber The tech space in dry bulk is crowded, concedes Sebastian Sjöberg, the CEO and co-founder of Seaber, a predictive AI platform providing data-driven decision support for scheduling and chartering optimisation. It’s a point evidenced by the fact that more than a third of the 58 sponsors of this year’s Geneva Dry…

  • US bulker outfit Pioneer Navigation shuffles leadership team

    US bulker outfit Pioneer Navigation shuffles leadership team US dry bulk shipping player Pioneer Navigation has reshuffled its leadership team. The Stamford-based company founded through the combination of Nassau-based Pioneer Navigation in the Bahamas and dry cargo brokerage Atlas Shipping has named Peter Bro as its new president. Bro, who spent about 20 years at…

  • TGS gets OBN work in Gulf of Mexico

    TGS gets OBN work in Gulf of Mexico Oslo-listed seismic data specialist TGS has kicked off a new multi-client ultra long offset OBN data acquisition campaign in the Gulf of Mexico. The so-called Amendment 4 project will expand node coverage in TGS’ multi-client library, adding over 1,100 sq km in the Mississippi Canyon, Ewing Banks,…

  • Beijing looks to put the brakes on the sale of Hutchison Ports

    Beijing looks to put the brakes on the sale of Hutchison Ports Beijing has moved to prevent the sale of CK Hutchison’s ports division to BlackRock and Mediterranean Shipping Co (MSC), a transaction that was meant to have gone through tomorrow.  The decision last month by the Li Ka-shing-controlled conglomerate to sell 80% of Hutchison…

  • CMA CGM sues Houston bunker supplier for $5m

    CMA CGM sues Houston bunker supplier for $5m French liner giant CMA CGM is suing GCC Supply & Trading for more than $5m at a court in Texas over an alleged case of contaminated bunkers dating back to 2023. CMA CGM claims 13 of its vessels were damaged when it took on VLSFO fuel at…

  • Shipping and scenario planning

    Shipping and scenario planning How can you plan for the future when the present is so uncertain, writes Pierre Aury? Scenario planning involves looking at different scenarios with associated assumptions and events. These scenarios are not forecasts but views of how the future could unfold. These scenarios only need to be plausible. The idea is…

  • Norway’s sovereign wealth fund buys stake in two RWE offshore wind farms

    Norway’s sovereign wealth fund buys stake in two RWE offshore wind farms Norges Bank Investment Management (NBIM), the manager of the world’s largest sovereign wealth fund – often referred to as the Oil Fund – worth over $1.75trn, has bought a 49% stake in two offshore wind projects from German utility RWE. The fund bought…

  • Subsea7 awarded Northern Lights contract

    Subsea7 awarded Northern Lights contract Oslo-listed Subsea7 has won a contract from Equinor worth between $50m and $150m for the second phase of the Northern Lights CO2 transport and storage project offshore Norway. Subsea7’s scope includes engineering, procurement, construction and installation of a five-kilometre CO2 pipeline, as well as installation of integrated satellite structures, umbilicals,…

  • Fugro survey vessel arrives safely to port following grounding

    Fugro survey vessel arrives safely to port following grounding Fugro’s survey vessel, Fugro Mercator, has been towed to a shipyard for inspection following a grounding incident on March 22. After the incident occurred, the 11-strong crew were evacuated and taken ashore. Fugro said at the time that a salvage operation was being prepared together with…

  • US federal judge blocks offshore lease sale over impact on Rice’s whales

    US federal judge blocks offshore lease sale over impact on Rice’s whales A federal judge has blocked an oil and gas lease sale in Gulf waters off the coast of Louisiana after finding that authorities did not take into account the impact of new offshore drilling on the highly endangered Rice’s whale. The ruling from…

  • How the liner lineup has changed this century

    How the liner lineup has changed this century Of the 50 largest container shipping lines in the world in the year 2000, only 24 are still in existence, according to new research from Denmark’s Sea-Intelligence.  The capacity operated by these surviving carriers has grown dramatically.  Overall, they have grown their collective capacity from 2.5m teu…

  • Yang Ming signs for three Japanese newbuilds

    Yang Ming signs for three Japanese newbuilds Taiwanese shipping line Yang Ming Marine Transport has struck a deal with Japanese owner Shoei Kisen for three 8,000 teu methanol dual-fuel-ready containership newbuilds. The world’s 10th and Taiwan’s second-largest liner operator is buying the trio currently under construction at Imabari Shipbuilding, with delivery set in 2028 and…

  • Qinfeng Shipbuilding bags boxship orders

    Qinfeng Shipbuilding bags boxship orders China’s Jiangsu Qinfeng Shipbuilding has secured orders from Jiangsu Lvhang Logistics for up to six containerships. The deal, with an undisclosed value covers one firm and five optional 1,138 teu newbuilds, with the first vessel expected for delivery by November 2026. No further details have been divulged, except that the…

  • COSCO Shipping Specialized Carriers books semisub heavylift ship at GSI

    COSCO Shipping Specialized Carriers books semisub heavylift ship at GSI COSCO Shipping Specialized Carriers is expanding its fleet of semi-submersible heavylift vessels with another newbuilding. The unit of COSCO Shipping Group has returned to Guangzhou Shipyard International for a 70,000 dwt unit as part of its plan to strengthen its position in the semisub offshore…

  • Dolphin Drilling makes Bryce permanent CEO

    Dolphin Drilling makes Bryce permanent CEO Semisub rig owner Dolphin Drilling has appointed Jon Oliver Bryce permanent chief executive officer. Bryce stepped up from chief strategy officer to take over from Bjørnar Iversen on an interim basis in January. Before joining Dolphin Drilling, he held senior and leadership roles at Awilco Drilling and Odfjell Drilling.…

  • Borealis Maritime offloads four PSVs

    Borealis Maritime offloads four PSVs UK-based shipping asset manager Borealis Maritime has sold four of its platform supply vessels. The Christoph Toepfer-led company is shipping out the 2013-built 3,500 dwt Aurora Pearl, Aurora Diamond, Aurora Emerald and Aurora Sapphire for an undisclosed sum. The Aurora Pearl was picked up by Grupo TMM in Mexico, while…

  • Aquaterra wins well intervention work in Nigeria

    Aquaterra wins well intervention work in Nigeria UK-based Aquaterra Energy has secured a multi-year contract with Intrepid Energy Limited to deliver a bespoke subsea well intervention equipment package for a project in Nigeria. The well access package will enable Intrepid Energy to conduct intervention operations across multiple mature oil wells in the region, supporting enhanced…

  • Island Drilling scores Equinor contract

    Island Drilling scores Equinor contract Norwegian rig owner and operator Island Drilling has won a long-term contract from Equinor for plug and abandonment work on the Norwegian Continental Shelf. The contract, starting in the first quarter of 2026, is for a firm period of three years plus five one-year extension options. The firm deal, involving…

  • Bulgaria proposes security centre for Black Sea shipping

    Bulgaria proposes security centre for Black Sea shipping Bulgaria has proposed to establish and host a multinational maritime coordination centre aimed at ensuring the safety of shipping in the western part of the Black Sea . The proposal was made by the country’s prime minister, Rossen Zhelyazkov, after the Ukraine security summit in Paris on…

  • Depressed bunker sales point toward shakier world trade outlook

    Depressed bunker sales point toward shakier world trade outlook The tide has turned for bunker sales and prices, an indication that global seaborne trade is on shakier ground this year.  “Bunker prices tell the tale of a softening market,” broker BRS noted in a new report.  As of yesterday, 0.5% very low sulphur fuel oil…

  • One month countdown to Geneva Dry

    One month countdown to Geneva Dry There’s just one month to go until this year’s largest gathering of charterers and shipowners takes place in the Swiss city of Geneva. Geneva Dry, the world’s premier commodities shipping conference, is scheduled for April 28 and 29 at the Hotel President Wilson with close to 300 companies already…

  • Tsakos presses on with fleet renewal

    Tsakos presses on with fleet renewal Greek owner Tsakos Energy Navigation (TEN) has confirmed market rumours about the sale of one of its oldest suezmax tankers with additional divestment of ageing tonnage potentially on the horizon as part of the company’s fleet renewal programme. The New York-listed company said in its quarterly earnings report that…

  • Burmester & Vogel expands with Laysoft acquisition

    Burmester & Vogel expands with Laysoft acquisition Boston-based maritime technology company Burmester & Vogel (B&V) has acquired Windows-based laytime calculation software Laysoft for an undisclosed amount. Founded by technology entrepreneur Kingston Duffie, Laysoft, also known as Laytime2000, has gained more than 200 active users in the dry bulk market over the past two decades, notably…

  • Thoresen Thai adds to bulker fleet

    Thoresen Thai adds to bulker fleet Thoresen Thai Agencies has bolstered its dry bulk fleet with a supramax purchase on the secondhand market. The Bangkok-based listed owner said in a filing it had acquired an unnamed 2012-built 56,104 dwt unit without disclosing further details. S&P sources suggest the company snapped up Shunzan Kaiun’s Pacific Infinity…

  • Car carriers in retreat as Trump unveils 25% auto tariffs

    Car carriers in retreat as Trump unveils 25% auto tariffs The US administration confirmed yesterday that it will go forward with the implementation of a 25% tariff on all foreign-built cars, something that is expected to add greater pressure to car carrier rates which have been coming off multi-year highs in recent months. US president…

  • Ingka, Oxan, and Avapa to develop two floating wind farms off Italy

    Ingka, Oxan, and Avapa to develop two floating wind farms off Italy IKEA owner Ingka Investments and French offshore wind developer Oxan Energy have partnered with Avapa Energy on two floating offshore wind development projects in Italy. The projects have the potential to reach a total installed capacity of 2.45GW. The two offshore wind projects…

  • Shell chooses McDermott for engineering and procurement services

    Shell chooses McDermott for engineering and procurement services Houston-based offshore contractor McDermott has been selected by UK supermajor Shell for an enterprise framework agreement for engineering and procurement services and integrated project management team services. McDermott said that the agreement has a duration of three years with two one-year optional extensions. The scope of the…

  • Floatel International accommodation vessel gets more time in Brazil

    Floatel International accommodation vessel gets more time in Brazil Oslo-based offshore accommodation vessel specialist Floatel International has won a contract extension for one of its units operating off Brazil. Under the extension, the 2013-built Floatel Victory will provide maintenance and safety unit support alongside the Peregrino FPSO. The flotel contract has been extended through the…

  • MPC Container Ships offloads seven vessels

    MPC Container Ships offloads seven vessels Oslo-listed tonnage provider MPC Container Ships (MPCC) said in a stock exchange filing that it sold five vessels en bloc, involving three 1,300 teu vessels and two 2,000 teu vessels. According to Greek media reports, the five vessels were bought by Nikolas Pateras-owned Contships Logistics. The vessels in question are…

  • Norden bags pair of capesize newbuilds

    Norden bags pair of capesize newbuilds Denmark’s Norden has firmed up its commitment to the capesize bulker segment through a deal for a pair of newbuildings. The Hellerup-based shipping giant will take the vessels on charter, with purchase options attached to the contract. The vessels will be built in Japan, with deliveries set for 2026…

  • Caravel Group buys into Pacific Basin

    Caravel Group buys into Pacific Basin Hong Kong conglomerate Caravel Group has raided the local stock market to acquire a significant stake in fellow dry bulk giant Pacific Basin Shipping. Caravel Maritime Ventures, part of the Banga family’s Caravel Group, has picked up 388.5m shares, corresponding to a 7.53% stake in the Martin Fruergaard-led handysize…

  • Nortrans pens deal with Saipem for flotel work on Chevron’s Australian project

    Nortrans pens deal with Saipem for flotel work on Chevron’s Australian project Singapore-based Nortrans Offshore has been awarded a contract with Italian giant Saipem for work on the Jansz-Io compression project offshore Western Australia. As part of this project, the company took the 200-person flotel Belait CSS 1 on a long-term bareboat charter. This is…

  • Floating wind still going strong despite US policy turmoil

    Floating wind still going strong despite US policy turmoil The United States’ shift in offshore wind policy is set to create a potential global installation shortfall of 26GW by 2035 as a result, according to TGS’ latest report. The company said in its Quarterly Market Overview Report that the withdrawal of a major market like…

  • Seanergy strikes double sale and leaseback

    Seanergy strikes double sale and leaseback US-listed Greek capesize bulker specialist Seanergy Maritime has entered into sale and leaseback agreements with a Chinese financier for two of its vessels. The Stamatis Tsantanis-led company revealed in its annual report that the 2009-built Friendship and the 2010-built Squireship had been sold to China Huarong Shipping Financial Leasing,…

  • LS Cable & Systems focuses subsidiaries on offshore wind

    LS Cable & Systems focuses subsidiaries on offshore wind South Korea-based electrical cable provider LS Cable & System has announced that it will be expanding its presence in the offshore wind market through several of its subsidiaries. The company said that Gaon Cable, LS Eco Energy, LS Materials, and LS Marine Solution will further strengthen…

  • Prosafe sells 41-year-old flotel for recycling

    Prosafe sells 41-year-old flotel for recycling Oslo-listed semisub accommodation vessel owner Prosafe has signed a deal to sell one of its flotels for recycling. Prosafe said that it would be recycling its 1984-built, anchor-moored semi-submersible tender support and accommodation vessel Safe Scandinavia. The vessel is presently located in Norway and has been in cold layup…

  • Icon Energy bolsters fleet with modern ultramax

    Icon Energy bolsters fleet with modern ultramax Nasdaq-listed Greek bulker outfit Icon Energy is expanding its fleet by bringing in a 2020-built ultramax on a bareboat charter. The Ismini Panagiotidi-led company said the 63,668 dwt scrubber-fitted vessel, to be named Charlie, should join the fleet between May and August 2025. The deal includes an advance…

  • Performance Shipping flips aframax for $21.5m profit

    Performance Shipping flips aframax for $21.5m profit Nasdaq-listed Greek tanker owner and operator Performance Shipping has nearly doubled its money by selling one of its aframaxes. The Andreas Michalopoulos company has offloaded the 2011-built P Yanbu for $39m after picking up the 105,400 dwt vessel in late 2020 for $22m. The Japanese-built unit has been…

  • Maersk seals 33-year lease extension at port of NY and NJ

    Maersk seals 33-year lease extension at port of NY and NJ AP Moller-Maersk has reached an agreement with the Port Authority of New York and New Jersey to extend APM Terminals Elizabeth’s lease through December 2062. Originally set to expire in 2029, the 33-year lease extension “paves the way for major infrastructure investments which will…

  • Uni-Tankers brings in fresh tonnage

    Uni-Tankers brings in fresh tonnage Denmark’s Uni-Tankers is renewing its fleet with two modern stainless steel vessels. The Per Ekmann-led outfit is adding the Selandia Swan to its owned fleet this spring. The ship is said to represent the company’s ongoing commitment to renewing its fleet with new, energy-efficient tonnage. Uni-Tankers is also bringing in…

  • Diana Shipping bags Cargill panamax fixture

    Diana Shipping bags Cargill panamax fixture Greek bulker owner Diana Shipping has landed another charter deal with Cargill, the New York-listed company’s fourth fixture with the commodities trading giant in just over a month. The Semiramis Paliou-led company has secured employment for the 2010-built panamax Leto from end-March through to July 16, 2026, and extension…

  • Precious Shipping diversifies with Malaysian tanker venture

    Precious Shipping diversifies with Malaysian tanker venture As fleet overhaul at Precious Shipping pushes ahead, the Thai dry bulk player has moved to expand its business to other shipping sectors. The Khalid Hashim-led listed owner said in a stock exchange filing that its Singapore subsidiary had struck a deal with Emstraits Navigation and Lianson Fleet,…

  • Bulker owner Diana Shipping makes LPG move

    Bulker owner Diana Shipping makes LPG move Greek bulker owner Diana Shipping has diversified into the gas shipping sector with an investment in a newly established joint venture, building two 7,500 cu m LPG carriers. The New York-listed company has signed up for 80% in the venture, called Ecogas Holding, which will see the two…

  • Panagiotidis family member takes two bulkers from Castor Maritime

    Panagiotidis family member takes two bulkers from Castor Maritime Cyprus-based owner Castor Maritime has sold two of its panamax bulk carriers in another family-related transaction. The Nasdaq-listed company is shipping the 2011-built Magic Eclipse and the 2012-built Magic Callisto to outfits beneficially owned by a family member of chairman and CEO Panagiotidis. The deal worth…

  • Western Bulk pockets $1.5m profit from ultramax sale

    Western Bulk pockets $1.5m profit from ultramax sale Norwegian dry bulk operator Western Bulk Chartering has locked in about $1.5m profit from the sale of a 2020-built ultramax picked up by exercising a purchase option. The Oslo-listed company has offloaded the Western Singapore to Thai bulker owner Precious Shipping for $28m. The purchase option was…

  • Trump’s tariff war only directly impacting 1.5% of global seaborne trade volumes for now

    Trump’s tariff war only directly impacting 1.5% of global seaborne trade volumes for now Despite their high profile, US trade tariffs – and retaliatory actions – are to date impacting directly only 1.5% of global seaborne trade volumes, according to the latest data from Clarksons Research, which notes that in the previous 2018-19 trade war…

  • Hacker group claims to have knocked out comms on 116 Iranian vessels

    Hacker group claims to have knocked out comms on 116 Iranian vessels Lab Dookhtegan, a hacker group, has claimed this week it has disrupted the communication networks of 116 ships belonging to Iran’s top two shipping firms. “In an unprecedented move, we successfully disrupted the communication network of two Iranian companies that, among various terrorist…

  • $3.5m: How much this COSCO ship might be charged when calling at a US port

    $3.5m: How much this COSCO ship might be charged when calling at a US port Public comments continue to fly into the US Trade Representative (USTR) ahead of Monday’s hearing into controversial plans to tax Chinese-built tonnage calling at US ports.  In the more than 150 submissions sent in, a considerable number have hit out…