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Category: splash24x7

  • Investigators warn 68 American bridges are at risk from a Dali-style accident

    Investigators warn 68 American bridges are at risk from a Dali-style accident The one-year anniversary since 2024’s most high-profile ship accident is next week, and the fallout from the Dali containership’s destruction of a bridge in Baltimore continues to permeate throughout the US.  In the early hours of March 26 last year, the Dali lost…

  • Flags of questionable quality grow market share

    Flags of questionable quality grow market share Over 5,000 vessels  – equivalent to 14.5% of the global merchant fleet – operate under registries with less than 10% ratification of International Maritime Organization and the International Labour Organization conventions, increasing exposure to enforcement actions, according to new data from analytics firm Kpler. “Flag risks are increasingly…

  • Chinese teapot refinery included in latest round of American sanctions targeting Iranian oil

    Chinese teapot refinery included in latest round of American sanctions targeting Iranian oil The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated a so-called teapot oil refinery in Shandong, China and its chief executive officer for purchasing and refining hundreds of millions of dollars’ worth of Iranian crude oil, including…

  • Petrobras extends DOF PLSV charter

    Petrobras extends DOF PLSV charter Norwegian offshore vessel owner DOF has won an extension for one of its pipelay support vessels (PLSV) from Petrobras. DOF said that the extension was awarded to the 2016-built Skandi Buzios. This vessel is currently in the last months of its long-term contract with Petrobras. Namely, the vessel started work…

  • Northern Offshore Services enters SOV segment

    Northern Offshore Services enters SOV segment Sweden-based CTV owner and operator Northern Offshore Services has entered the SOV sector through an acquisition of one of Edda Wind’s vessels. The Norwegian offshore wind support vessel pureplay said in an Oslo Bors filing on Wednesday that it sold the 2018-built Mistral Enabler to an unnamed buyer. Closing of…

  • Fred Olsen Ocean sells out of United Wind Logistics

    Fred Olsen Ocean sells out of United Wind Logistics Norway’s Fred Olsen Ocean has sold its 50% stake in German deck carrier operator United Wind Logistics (UWL) to United Group sister company United Heavy Lift for €48.5m ($52.6m). The Oslo-based Bonheur subsidiary said the transaction should close by end-April and that the gross proceeds from…

  • Golar bags $1.2bn FLNG vessel refinancing

    Golar bags $1.2bn FLNG vessel refinancing Tor Olav Trøim-backed floating liquefied natural gas (FLNG) specialist Golar LNG has struck a deal with a consortium of Chinese lessors which will see the refinancing of the existing debt on the FLNG Gimi vessel. The agreement, structured as a sale and leaseback is worth about $1.2bn and expected…

  • Norden sells five ships

    Norden sells five ships Danish shipping giant Norden has revealed new activity in the sale-and-purchase market with five transactions recently closed in the dry and wet segments. The move is in line with the company’s intention to realise asset values, the Jan Rindbo-led owner and operator said. The Hellerup-based company has let go of two…

  • Jinhui sells veteran supramax

    Jinhui sells veteran supramax Chinese bulker owner and operator Jinhui Shipping and Transportation has offloaded one of its older supramaxes in its first sale in more than a year. The Oslo- and Hong Kong-listed company is shipping out the 2007-built Jin Shun to Honk Kong incorporated Yuhe Shipping in a deal worth $8.26m. The 53,350…

  • ESL Shipping extends raw material transport deal with SSAB

    ESL Shipping extends raw material transport deal with SSAB ESL Shipping, part of Finnish conglomerate Aspo, and global steel manufacturer SSAB have agreed a multi-year extension for the transport of inbound raw material sea transports within the Baltic Sea and from the North Sea. The new contract also covers transport of SSAB’s fossil-free sponge iron…

  • Euroseas fixes charter for 2007-built boxship

    Euroseas fixes charter for 2007-built boxship Nasdaq-listed Greek containership owner Euroseas has won a time charter contract for its 4,250 teu boxship Rena P. The charter is for a minimum period of 35 to a maximum period of 37 months, at the option of the charterer, at a gross daily rate of $35,500, in direct…

  • Tsakos confirms $2bn shuttle tanker deal with Transpetro

    Tsakos confirms $2bn shuttle tanker deal with Transpetro Greek owner Tsakos Energy Navigation (TEN) has confirmed a long-term charter deal with Petrobras’ logistics subsidiary Transpetro for a series of nine shuttle tanker newbuildings. The vessels, to be built at Samsung Heavy Industries in South Korea, have secured 15-year employment each with revenues for TEN estimated…

  • Solstad scores Subsea7 CSV deal

    Solstad scores Subsea7 CSV deal Norwegian offshore vessel owner Solstad Maritime has secured a new contract from offshore engineering and services player Subsea7 for the construction support vessel (CSV) Normand Subsea. The 2009-built CSV has been fixed for two years, with three yearly extension options attached to the deal. Financial terms have not been disclosed.…

  • Red Sea transits off limits for most as Israel pounds Gaza

    Red Sea transits off limits for most as Israel pounds Gaza The majority of the global merchant fleet is expected to keep away from the Red Sea for the foreseeable future as the security situation in the region worsens. The Israeli military has carried out extensive strikes overnight along the Gaza Strip after talks to…

  • Box charter to freight rate ratio hits record high of 289%

    Box charter to freight rate ratio hits record high of 289% Containership utilisation has slipped below 90% on many of the sector’s biggest tradelanes, while the gap between box freight rates and charter rates has hit an all-time high. Data from Linerlytica shows boxship utilisation on three of the four main tradelanes has fallen below…

  • The next big maritime tech breakthroughs

    The next big maritime tech breakthroughs In the second instalment of our brand new magazine, Maritime CEO canvasses the industry on all things tech. For Mikael Skov, who heads up Hafnia, the world’s largest product tanker owner, artificial intelligence emissions reduction and autonomous vessels are likely going to be the biggest tech breakthroughs in general…

  • Hanwha buys Austal stake

    Hanwha buys Austal stake South Korea’s Hanwha Group has taken a 9.9% stake in Australian shipbuilder Austal almost a year after it proposed a full takeover. Hanwha on Tuesday said it had acquired 41.2m shares in Austal, paying A$4.45 a share. Hanwha said it aims to become a long-term strategic partner to the Australian shipbuilder…

  • Nick Potter takes the reins at AET

    Nick Potter takes the reins at AET AET, a tanker firm controlled by Malaysia’s MISC, has appointed Nick Potter, a well-known name in Singapore shipping circles, as its next president and CEO. Potter, a former seafarer, brings over 35 years of experience in the maritime and energy sectors, having led commercial, technical, and operational teams…

  • Cyber security and the five key elements in UR E26 regulatory compliance

    Cyber security and the five key elements in UR E26 regulatory compliance IT safety is evolving from a box-ticking exercise to an essential business tool, required by regulators and stakeholders, writes Nicolas Furge, president, Marlink Cyber. Cyber risk is a growing concern across the shipping industry, from vessel operators and charterers to ports and the…

  • Navigator wraps up ethylene carrier trio buy

    Navigator wraps up ethylene carrier trio buy New York-listed Navigator Holdings has completed the final acquisition of three handysize ethylene carriers set to complement the recently expanded export terminal at Morgan’s Point in Texas. The company owns the Morgan’s Point ethylene export terminal in a 50-50 joint venture with Enterprise Products Partners. The operation was…

  • Jan De Nul and Hellenic Cables ink framework deal with National Grid

    Jan De Nul and Hellenic Cables ink framework deal with National Grid Belgium’s Jan De Nul and its Greek consortium partner Hellenic Cables, have signed a framework agreement with British utility National Grid for future HVDC cable projects across the UK and Europe. The deal will entitle the consortium to participate in upcoming tenders for…

  • Oskar Wehr seals newbuild quartet in China

    Oskar Wehr seals newbuild quartet in China Germany’s Oskar Wehr is expanding its fleet with four general cargo newbuilds in China. Newbuilding sources report the Hamburg-based outfit has contracted 5,900 dwt units at Jiangsu Dajin Heavy Industry. No price has been divulged for the order. The yard, which has several German owners on its newbuilding…

  • Teekay Tankers reveals LR2 play

    Teekay Tankers reveals LR2 play Teekay Tankers is renewing its LR2 tonnage through deals that will see one of the ageing vessels replaced by a 12 years younger unit. The New York-listed firm has agreed to offload the 2007-built Galway Spirit to an unnamed buyer for delivery in the first quarter of 2025. No price…

  • Can these two men find some middle ground to keep world trade moving?

    Can these two men find some middle ground to keep world trade moving? We have a new magazine launching today, designed to give the shipping industry an idea of how the markets might play out in the coming months. Today’s opening instalment looks at the trajectories of the world’s two largest economies. Economists have been…

  • Beijing blasts sale of Hutchison Ports

    Beijing blasts sale of Hutchison Ports CK Hutchison’s share price plunged today in Hong Kong following Beijing’s public criticism of its plans to sell the majority of its ports division to BlackRock and Mediterranean Shipping Co (MSC) for $22.8bn, bringing into question whether the transaction, the largest ports deal in history, will be completed. Hong…

  • US could bar ships from countries seen to be creating maritime chokepoints

    US could bar ships from countries seen to be creating maritime chokepoints In the latest maritime bombshell coming out of Washington DC, the Federal Maritime Commission, the country’s shipping regulator, has warned it might bar entry to ships from countries found to be causing choke points at key locations around the world. The FMC yesterday…

  • Chinese owners and yards come out fighting in US trade dispute

    Chinese owners and yards come out fighting in US trade dispute Both the China Shipowners’ Association (CSA) and the China Association of the National Shipbuilding Industry (CANSI) have left public comments criticising the US Trade Representative’s proposals to charge extra for fleets with Chinese-built tonnage calling at American ports, arguably the biggest shock policy to…

  • US sanctions tanker headed for demolition

    US sanctions tanker headed for demolition Donald Trump’s so-called ‘maximum pressure’ campaign against Iran has stepped up a gear with the latest targeted sanctions announced in Washington DC yesterday including a ship waiting to be scrapped off Bangladesh as well as tug boats that have serviced Iranian-linked vessels in the past. The Department of the…

  • Capesize tonne-mile uptick seen as Africa outmuscles Australia for iron ore

    Capesize tonne-mile uptick seen as Africa outmuscles Australia for iron ore Iron ore exports out of Africa are set to be one of the great growth drivers of global seaborne trades for the rest of the 2020s, new research from broker SSY shows. Guinea’s Simandou mine alone is set to deliver 60m tonnes of iron…

  • Australia’s competition regulator flags concerns over DP World’s takeover of Silk Logistics

    Australia’s competition regulator flags concerns over DP World’s takeover of Silk Logistics Australian consumer watchdog ACCC (Australian Competition and Consumer Commission) has voiced concerns over DP World’s proposed acquisition of port-to-door logistics specialist Silk Logistics. Silk operates 21 logistics hubs and 25 warehousing sites across five Australian states. The company is expected to become part…

  • Höegh Autoliners snaps up leased car carrier

    Höegh Autoliners snaps up leased car carrier Norwegian car carrier player Höegh Autoliners is taking ownership of one of its leased vessels. The Oslo-listed outfit has exercised a purchase option at Parcar Shipholding on the 2010-built Höegh Copenhagen. The deal worth $36.5m will see the 7,850 ceu vessel switch ownership in August, the Andreas Enger-led…

  • More tankers and dry bulk carriers turn away from the Red Sea

    More tankers and dry bulk carriers turn away from the Red Sea While there have been no attacks by the Houthis from Yemen on merchant shipping this year, shipowners are still giving the Red Sea a wide berth to the consternation of the Suez Canal Authority. Indeed, for shipping’s two largest sectors, the number of…

  • Video footage of North Sea accident surfaces

    Video footage of North Sea accident surfaces Newly obtained video footage has revealed the moment the containership Solong struck the tanker Stena Immaculate off the coast of East Yorkshire on Monday. The impact and subsequent explosion were captured by Orca AI’s lookout unit Seapod mounted on the tanker Ionic Aspis anchored off the port of…

  • Tons down, miles up

    Tons down, miles up Andrew Craig-Bennett provides readers with an overview of what tariffs mean for seaborne trades. A problem with trying to write about the possible effects of tariffs on the merchant shipping business is that the people who want to stick tariffs on stuff keep changing their minds. However, there are some broad…

  • Diana Shipping fixes another kamsarmax to Cargill

    Diana Shipping fixes another kamsarmax to Cargill New York-listed Greek bulker owner Diana Shipping has secured its second Cargill charter within a month. The commodities giant is chartering in the 2010-built kamsarmax Medusa for up to 16 months. The 82,194 dwt Tsuneishi-built vessel, which earlier this year came off a long-term charter with ASL Bulk…

  • Taiwan’s CMT takes option on newcastlemax brace

    Taiwan’s CMT takes option on newcastlemax brace Taiwan’s Chinese Maritime Transport (CMT) is moving forward with its dry bulk newbuilding project at a domestic yard. The owner of 13 vessels spread across capesize and newcastlemax segments has settled to contract two more 210,000 dwt units at CSBC Corporation. The newbuilds, costing about $77.5m each, will…

  • Captain arrested on suspicion of gross negligence manslaughter over North Sea collision

    Captain arrested on suspicion of gross negligence manslaughter over North Sea collision The captain of the containership Solong, involved in a collision with the Stena Immaculate tanker in the UK North Sea, has been arrested on suspicion of gross negligence manslaughter. The incident, which took place on Monday with both ships bursting into flames after…

  • Ocean Installer joins team developing UK floating wind farm

    Ocean Installer joins team developing UK floating wind farm Marine construction contractor Ocean Installer has joined the alliance of companies developing the Aspen floating offshore wind project in the North Sea. Ocean Installer’s addition to the alliance will drive down the costs of installation and its existing fleet of vessels and workforce can be transferred…

  • Russian strikes kill four crew in Odesa

    Russian strikes kill four crew in Odesa Barbados-flagged bulk carrier MJ Pinar was hit by Russian missiles at the port of Odesa yesterday evening with four crew killed, and another injured. The dead crew hailed from Syria and Ukraine. The handysize vessel was loading a cargo of wheat when it was struck with images showing…

  • Containership likely to sink after North Sea collision

    Containership likely to sink after North Sea collision The Solong containership involved in Monday’s collision in the UK North Sea is unlikely to remain afloat, British maritime minister Mike Kane has said. “Modelling suggests that should Solong remain afloat, it will remain clear of land for the next few hours. The assessment of HM Coastguard…

  • Carlos Pena takes over from John Michael Radziwill as CEO of C Transport Maritime

    Carlos Pena takes over from John Michael Radziwill as CEO of C Transport Maritime John Michael Radziwill (pictured right) is shuffling the board at Monaco’s C Transport Maritime, remaining as chairman with key lieutenant Carlos Pena (pictured left) taking over as CEO of the dry bulk concern. CTM, which turned 20 last October, is best…

  • Triton buys Global Container International

    Triton buys Global Container International Container leasing giant Triton has agreed to acquire Global Container International (GCI) in a deal valued at more than $1bn, including outstanding debt. Boston-based GCI was established in 2018 by a team of experienced container industry executives in partnership with investment vehicles managed by Wafra. The transaction, expected to close…

  • Preliminary signs of a two-tier freight market emerge as US crackdown on Chinese-built tonnage nears

    Preliminary signs of a two-tier freight market emerge as US crackdown on Chinese-built tonnage nears The first signs of a two-tier market are emerging in anticipation of Donald Trump’s likely penalisation of Chinese-built tonnage.  Broker BRS is reporting Chinese-linked ships are now becoming “far less attractive” for long time charters due to the likelihood that,…

  • Fires continue to burn in North Sea following yesterday’s ship collision

    Fires continue to burn in North Sea following yesterday’s ship collision The search for a missing crewmember from the containership Solong that struck the tanker Stena Immaculate in the UK North Sea has been called off as fires aboard both ships continued to burn overnight. The 140-m-long Solong, owned by Hamburg-based Ernst Russ, hit the…

  • Hapag-Lloyd’s ports arm takes over terminal in Le Havre

    Hapag-Lloyd’s ports arm takes over terminal in Le Havre Hapag-Lloyd’s terminal and infrastructure division Hanseatic Global Terminals (HGT) has acquired a 60% stake in CNMP (Compagnie Nouvelle de Manutentions Portuaires), operator of Atlantique container terminal in Le Havre, France. The remaining 40% of the shares in CNMP will continue to be held by temperature-controlled food…

  • Massive fire erupts as tanker and boxship crash off UK coast

    Massive fire erupts as tanker and boxship crash off UK coast A major rescue operation is underway in the North Sea after a product tanker and a containership crashed and caught fire off the coast of Hull in east Yorkshire, UK. A US-flagged MR tanker Stena Immaculate was struck by the Portugal-flagged containership Solong while…

  • South Africa seeks operator for multipurpose terminal in Durban

    South Africa seeks operator for multipurpose terminal in Durban South Africa’s Transnet National Ports Authority (TNPA) is looking for an operator for a multipurpose terminal in Durban. The state-run ports and freight-rail operator has invited interested parties to submit proposals to design, develop, fund, build, operate, maintain, and transfer the terminal in the Maydon Wharf…

  • Havila seals Peterson PSV extension

    Havila seals Peterson PSV extension Norwegian OSV owner Havila Shipping has secured a contract extension for its platform supply vessel Havila Borg. The Fosnavåg-based company has fixed the 2009-built unit to energy industry logistics provider Peterson Den Helder for a period of around 215 days in direct continuation of its existing contract with Peterson Offshore…

  • Ocean Winds secures license for 1,125MW Korean offshore wind project

    Ocean Winds secures license for 1,125MW Korean offshore wind project Ocean Winds, a joint venture between France’s Engie and Portuguese electric utilities company EDP, has been granted an electricity business license for its Hanbando wind farm off South Korea. The 1,125MW bottom-fixed project is located in the exclusive economic zone off Incheon. The license grants…

  • Deep sea cargo fleet moving at record low speeds

    Deep sea cargo fleet moving at record low speeds Ocean-going merchant ships are moving slower than ever. Average speeds across the deep sea cargo fleet in the first quarter this year are at a new low, according to data from Clarksons Research. Certain sectors that have been struggling commercially in the opening months of the…

  • Xingtong books chemical tankers at Taizhou Kouan

    Xingtong books chemical tankers at Taizhou Kouan Chinese chemical tanker player Xingtong Shipping has contracted four stainless steel newbuilds at Taizhou Kouan Shipbuilding. The Shanghai-listed company said its subsidiaries are paying $91.5m in total, excluding tax, for two 13,000 dwt and two 13,800 dwt vessels. Set up in 1997, Xingtong controls a fleet of 45…

  • A blank spot in cadet training?

    A blank spot in cadet training? Andrew Craig-Bennett calls for new requirements before going to sea. The need to recruit cadets is constant and many, but certainly not all, ship managers and ship owners have cadet recruitment and training programmes. I hear rather often from friends at sea that they are concerned about the education…

  • Shipping in the crosshairs as trade uncertainty hits all-time high

    Shipping in the crosshairs as trade uncertainty hits all-time high At no point since tracking began on the subject have global trade policies been more uncertain than right now, according to one index developed in the US.  The Trade Policy Uncertainty (TPU) Index (see chart below) developed by four employees at the Federal Reserve Board…

  • A.P. Moller Capital buys into Philippine logistics firm

    A.P. Moller Capital buys into Philippine logistics firm A.P. Moller Capital has agreed to acquire 40% of the Philippine logistics company AC Logistics (ACL) from Ayala Corporation. Established in 2021, ACL offers supply chain solutions covering cold chain solutions, freight forwarding, national distribution, and contract logistics. The Copenhagen-based infrastructure fund management affiliate of A.P. Moller…

  • CMA CGM’s Saadé vows to invest $20bn into the US over the next four years

    CMA CGM’s Saadé vows to invest $20bn into the US over the next four years CMA CGM’s Rodolphe Saadé was in the White House yesterday, unveiling a $20bn planned investment into the US.  The huge investment over the next four years would create 10,000 jobs, CMA CGM said, and include expanding container terminals, building an…

  • The curse of criminalisation

    The curse of criminalisation The case of the Phoenician M and the 30 year sentences passed down to crewmembers has incensed Steven Jones, the founder of the Seafarers Happiness Index. Shipping just does not have the right system to deal with the criminalisation of seafarers, and this needs to change, he writes in an exclusive…

  • Torm ships out three oldest tankers

    Torm ships out three oldest tankers Danish product tanker owner Torm has continued its sell-off of older tonnage with three ships set to exit the fleet. The New York and Copenhagen Nasdaq-listed firm is shipping out 2005-built MR tankers the 46,200 dwt Torm Ragnhild, 50,000 dwt Torm Resilience and 47,000 dwt Torm Thames, with deliveries…

  • Female seafarers helpline launches

    Female seafarers helpline launches International maritime charity Sailors’ Society has set up a dedicated helpline for female seafarers. Launching on International Women’s Day (March 8) the 24/7 helpline will allow female cadets and seafarers to speak in confidence to a female member Sailors’ Society team. The service is intended to provide emotional support, crisis assistance,…

  • Royal HaskoningDHV expands with Arch Henderson buy

    Royal HaskoningDHV expands with Arch Henderson buy Engineering consultant firm Royal HaskoningDHV has acquired Scotland-based maritime engineer company Arch Henderson. By bringing Arch Henderson on board, Royal HaskoningDHV significantly strengthens its UK business to over 800-strong. The companies did not disclose financial information about the buy. Arch Henderson will retain its brand name in the…

  • Lauritzen Bulkers buys Canadian breakbulk specialist Alexander & Blake

    Lauritzen Bulkers buys Canadian breakbulk specialist Alexander & Blake Danish dry bulk owner and operator Lauritzen Bulkers has acquired Canadian breakbulk and parcel shipping company, Alexander & Blake. The Copenhagen-headquartered outfit, which manages a fleet of between 90 and 110 geared handysize and ultramax vessels, is taking over the Burlington-based company for an undisclosed sum.…

  • Andrew Craig-Bennett on globalisation

    Andrew Craig-Bennett on globalisation The editor (whom God preserve!) is of the opinion that CK Hutchison’s sale of their ports and terminals operation to a consortium of BlackRock and MSC marks the end of globalisation as an idea which rules our thinking on trade in general and trade by sea in particular, and that the…

  • Essberger firms up chemical tanker pair

    Essberger firms up chemical tanker pair Germany’s John T. Essberger has bolstered its chemical tanker orderbook with two optional newbuilds at Nantong Rainbow Offshore & Engineering Equipment in China. The deal takes the Hamburg-headquartered company’s newbuilding programme at the yard to four firm 13,000 dwt 1A ice class units with options available for two more…

  • Kazakhstan Railways and PTC to build container terminal in Georgia

    Kazakhstan Railways and PTC to build container terminal in Georgia Kazakhstan’s main rail network operator Kazakhstan Railways (KTZ) signed a memorandum of understanding with transport and logistics services firm PTC Holding for the construction of a container terminal in Georgia. The two will look to build a multimodal container terminal in the city of Poti…

  • Marcura buys Shipster

    Marcura buys Shipster Maritime tech firm Marcura has acquired AI-driven document intelligence start-up Shipster. Shipster specialises in AI-driven document automation, particularly in extracting and structuring key data from shipping documents like statements of facts, letters of indemnity, bills of lading, and generating handover instructions. The acquisition is part of Marcura’s broader strategy to develop and…

  • Floatel sells accommodation vessel after nine-year lay-up

    Floatel sells accommodation vessel after nine-year lay-up After a nearly six-month search, Oslo-based offshore accommodation vessel specialist Floatel International has found a buyer for one of its vessels. The company signed an agreement in principle to sell its accommodation semisub Floatel Reliance for an undisclosed fee. The floatel will be sold for further use and…

  • Sedna buys workflow automation platform Flytta

    Sedna buys workflow automation platform Flytta UK-based technology firm Sedna has acquired Flytta, an AI-powered workflow automation platform for global trade and supply chains for an undisclosed sum. Flytta originated as an in-house solution at Casper Shipping, designed to streamline internal operations before being further refined and commercialised by Seer. Flytta’s Customs Import and Export…

  • Spetalen’s S.D. Standard ETC sells stake in Dolphin Drilling

    Spetalen’s S.D. Standard ETC sells stake in Dolphin Drilling Øystein Stray Spetalen-controlled S.D. Standard ETC (SDSD) has sold its stake in semisub rig owner Dolphin Drilling. SDSD said in an Oslo Bors filing that it sold nearly 50 million shares of the offshore driller which represents a 17.1% stake in Dolphin Drilling. The shares were…

  • Splash at 10: How the industry has changed

    Splash at 10: How the industry has changed Splash turns 10 today, the site covering one of shipping’s most tumultuous decades on record. Chinese shipyards going under or restructuring and capes heading for the scrap heap dominated headlines on March 4, 2015 in what was by common consent a far easier time to be covering…

  • Trump’s trade war steps up a gear

    Trump’s trade war steps up a gear US president Donald Trump’s new round of tariffs against his country’s top three trading partners has sparked retaliatory action, launching new trade conflicts. On Tuesday, Trump imposed 25% tariffs on Mexican and Canadian imports, as well as a 20% duty on Chinese goods. China responded in kind, imposing…

  • The thousand faces ship: how Chinese vessels change names mid-voyage

    The thousand faces ship: how Chinese vessels change names mid-voyage The latest ship accused of damaging cables off Taiwan had a simple way of changing identity.  Taiwan’s coast guard detained a cargo ship and its Chinese crew a week ago. The vessel is suspected of damaging the cable connecting Taiwan to its outlying Penghu Islands. …

  • Splash at 10: Correlation is causation

    Splash at 10: Correlation is causation On Splash’s big birthday, lead columnist Andrew Craig-Bennett gives his take on the past decade. Ten years ago, the industry that we all love was getting over the 2012 crisis – the year when many of the ships ordered during the 2004-2008 boom caused by China’s accession to the…

  • Russia hits two ships at the port of Odesa

    Russia hits two ships at the port of Odesa Russia targeted a containership over the weekend it claimed to be carrying weapons to Ukraine. The attack on the Mediterranean Shipping Co (MSC) ship at the port of Odesa also hit a nearby Sierra Leone-flagged bulk carrier in collateral damage.  The 1,118 teu MSC Levante F…

  • CMA CGM signs for electric boxship

    CMA CGM signs for electric boxship French liner operator CMA CGM has contracted inland vessels specialist Shandong Xinneng Shipbuilding to build its fully electric containership. The deal with an undisclosed value follows a letter of intent CMA CGM signed with the yard late last year for the construction of an 80 m long, 182 teu…

  • ONE boxship collides with Maersk vessel in Hong Kong

    ONE boxship collides with Maersk vessel in Hong Kong On Saturday evening the 364 m long ONE Columba allided with the 6,600 teu Clifford Maersk in Hong Kong port with videos showing a number of containers falling off the Maersk ship. The accident happened as the ONE vessel was proceeding to berth, its bow ramming…

  • Lauritzen Bulkers CEO leaves due to stress

    Lauritzen Bulkers CEO leaves due to stress Martin Egvang has stepped down as chief executive officer of Copenhagen-based shipowner and operator Lauritzen Bulkers, citing stress issues. “I have been experiencing increasing stress-related symptoms, which has reached an unsustainable level, and I have therefore concluded that the right thing for me is to step down as…

  • Toro to become pure-play LPG carrier owner with tanker spin-off

    Toro to become pure-play LPG carrier owner with tanker spin-off Nasdaq-listed owner Toro has initiated a process of separating its tanker and LPG businesses. The spinoff of Cyprus-based Castor Maritime with one tanker and four gas carriers spinning off the 2006-built handysize products carrier Wonder Mimosa into a newly formed subsidiary Robin Energy. The company…

  • HMM takes Hosco newcastlemax

    HMM takes Hosco newcastlemax South Korean flagship line HMM has been linked to another secondhand purchase in the larger bulk carrier segment. Brokers report the Seoul-based company has snapped up the 2014-built newcastlemax Oriental Dragon from bulker owner Hebei Ocean Shipping Co (Hosco) in a deal valued at about $49.2m. Hosco bought the Imabari-built 207,800…

  • Nordic American Tankers boosts suezmax fleet

    Nordic American Tankers boosts suezmax fleet Nordic American Tankers (NAT) is pressing ahead with fleet growth and renewal plans with the addition of a 2016-built suezmax. The Herbjorn Hansson-led owner and operator has picked up the unnamed vessel from what it says is “a first-class owner” in a deal struck in the mid-to-high $60m area.…

  • Miclyn Express Offshore changes name to Aesen

    Miclyn Express Offshore changes name to Aesen Singapore-based offshore vessel operator Miclyn Express Offshore (MEO) has officially changed its name to Aesen. Following the rebrand, the company will effect respective entity name changes progressively. Clients, vendors, and business partners will be notified as these changes take effect. All other company details remain unchanged. The OSV…

  • Frontline seals four-ship refinancing

    Frontline seals four-ship refinancing John Fredriksen’s Frontline has secured a fresh refinancing deal for four of its vessels. The New York- and Oslo-listed tanker giant said it had entered into three senior secured credit facilities of $239m in total, which will refinance three VLCCs and one suezmax vessel and, in addition, provide revolving credit capacity…

  • Costamare spinning off bulkers business

    Costamare spinning off bulkers business New York-listed Greek shipowner Costamare has moved to spin off its dry bulk operation into a separate publicly traded company. The new company Costamare Bulkers Holdings is expected to launch this year and to be listed on the New York Stock Exchange. The outfit will own nearly 40 vessels in…

  • Carisbrooke seals $27m newbuild financing

    Carisbrooke seals $27m newbuild financing UK owner Carisbrooke Shipping has secured financing for its newbuilding programme in the Netherlands. Germany’s KfW IPEX-Bank is backing the construction of two 7,700 dwt general cargo vessels at Thecla Bodewes Shipyards with around €26m ($27.3m). The ships in the so-called Labrax series have modern diesel-electric propulsion, with an option…

  • Jan De Nul heavy lift vessel set for work on Scottish offshore wind farm

    Jan De Nul heavy lift vessel set for work on Scottish offshore wind farm Belgian marine contractor Jan De Nul will provide its 2023-built heavy lift vessel Les Alizés to transport and install the monopile foundations on the Inch Cape wind farm offshore Scotland. The wind farm will comprise 72 turbines sited in the North…

  • BP cuts renewables investments by $5bn, sets sights firmly on oil and gas

    BP cuts renewables investments by $5bn, sets sights firmly on oil and gas UK-based energy giant BP has announced it will cut its renewable energy investments and instead increase its investment in oil and gas production. The company buckled under pressure from investors who were unhappy over the company’s underperformance compared to its main rivals…

  • Shipping central to EU’s new Clean Industrial Deal

    Shipping central to EU’s new Clean Industrial Deal The European Union has unveiled its Clean Industrial Deal that will prioritise the domestic production of renewable fuels for aviation and shipping, among a host of measures worth more than EUR100bn ($105m) designed to green many industry sectors. “The EU needs to secure access to such materials…

  • Louis Dreyfus Armateurs to be taken over by fellow private equity firm

    Louis Dreyfus Armateurs to be taken over by fellow private equity firm French family-owned shipowner Louis Dreyfus Armateurs (LDA) has revealed takeover talks with compatriot private equity firm InfraVia. The two companies have entered exclusive negotiations for Paris-based InfraVia to acquire an 80% stake in LDA which currently manages 23 ships in roro, offshore wind…

  • Marcura expands with HubSE acquisition

    Marcura expands with HubSE acquisition Maritime tech firm Marcura has acquired UK-based tanker demurrage claims automation provider HubSE. HubSE’s specialised oil and chemical tanker expertise will be integrated into Marcura Claims, formerly ClaimsHub. Their combined capabilities will deliver a comprehensive claims management experience with both fully managed and self-service solutions. The acquisition of HubSE reinforces…

  • Sapura Energy lands $723m in new contracts

    Sapura Energy lands $723m in new contracts Malaysian offshore services player Sapura Energy has won multiple contracts worth RM3.2bn ($723m) for its drilling business. The company said in a filing with Bursa Malaysia that Sapura Drilling had won two contracts from PTTEP for the barge-type tender assist drilling rigs, Sapura T-17 and Sapura T-18. The…

  • Ningbo Marine firms up ultramax pair at Jiangsu Haitong

    Ningbo Marine firms up ultramax pair at Jiangsu Haitong Chinese owner Ningbo Marine has added to its ultramax bulker orderbook with two newbuilds firmed up at compatriot yard. The Shanghai Stock Exchange-listed company signed up for up to four 64,000 dwt vessels at Jiangsu Haitong Offshore Engineering Equipment last November. The deal covered two firm…

  • Adhart linked to tanker quartet at New Dayang

    Adhart linked to tanker quartet at New Dayang Singapore’s Adhart Shipping has been named as the owner behind a debut product tanker order for Chinese bulker builder New Dayang. The subsidiary of state-run machinery manufacturer Sumec Group announced its entry into tanker shipbuilding in January through a deal for four MR units with an undisclosed…

  • Pertamina International Shipping boss arrested over alleged oil import scheme

    Pertamina International Shipping boss arrested over alleged oil import scheme Pertamina International Shipping chief executive Yoki Firnandi has been arrested in connection with an alleged $12bn corruption scandal involving the procurement of crude oil and oil products. Indonesia’s Attorney-General’s Office named Yoki as one of seven suspects, four of whom were officials of Pertamina subsidiaries.…

  • Chinese yard to build 200-person accommodation rig

    Chinese yard to build 200-person accommodation rig Jiangsu Dajin Heavy Industry has revealed that it entered into a section fabrication, general assembly, equipment installation, and commissioning contract for a 200-person jackup accommodation rig with Qinshi Jiamei Energy Technology. According to a statement made by Bestway Marine & Energy Technology, the owner of Dajin Heavy, the…

  • US issues further Iran sanctions

    US issues further Iran sanctions The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on more than 30 persons and vessels in multiple jurisdictions for their role in brokering the sale and transportation of Iranian petroleum-related products, the latest in a series of measures the new Donald Trump administration…

  • Container sector set to take biggest hit from US plans to charge Chinese-built vessels

    Container sector set to take biggest hit from US plans to charge Chinese-built vessels Shipping is reeling from what could be the most seismic decision to effect the industry yet in the opening weeks of Donald Trump’s second term in office. The American president will make a decision, likely in around a month’s time, on…

  • Stena Bulk forms Nigerian tanker venture

    Stena Bulk forms Nigerian tanker venture Swedish shipowner Stena Bulk has signed a deal with NNPC Shipping, part of oil producer Nigerian National Petroleum Corp and local integrated offshore support player Caverton Marine for a new tanker joint venture in Nigeria. The deal will create a new tanker operation serving Nigeria and West Africa’s regional…

  • UK blacklists 40 shadow fleet ships

    UK blacklists 40 shadow fleet ships The UK is imposing a new wave of sanctions against the Russian oil trade, targeting an additional 40 ships. The biggest sanctions package against Russia’s shadow fleet brings the total number of oil tankers sanctioned by the UK to 133—more than any other European nation. Publishing details of the…

  • Moeve signs up for RFOcean chemical tanker newbuilds

    Moeve signs up for RFOcean chemical tanker newbuilds Spanish energy company Moeve has inked a contract with RFOcean for a series of 6,600 dwt chemical tankers currently under construction in China. Frederik Rye-Florentz-led RFOcean, which controls a fleet of 13 chemical tankers on fully-delivered basis, has eight next-generation newbuilds booked at Wuhu Shipyard set to…

  • Velos swoops on Easterly MR1

    Velos swoops on Easterly MR1 Greek owner Velos Shipping has bolstered its tankers business with a secondhand chemical carrier from Easterly Asset Management’s Maritime Logistics Equity Partners. Velos Tankers has snapped up the 2010-built 36,700 dwt MR1 Easterly Sirius for around $15.5m and renamed it Velos Rubini. The US-based Easterly bought the vessel from Hong…

  • Whitewashing the greenwashing

    Whitewashing the greenwashing Rob Mortimer, managing director of fuel specialist Fuelre4m, takes a challenging look at the outcomes from last week’s IMO Intersessional Working Group on the Reduction of GHG Emissions from Ships My biggest takeaways from the recent convening of 107 parties, representing 97% of the world’s shipping tonnage are: We’re committed to cutting…

  • US targets Chinese ships and terminal investments

    US targets Chinese ships and terminal investments The US is considering slapping huge fees on Chinese-built ships calling at its ports, while also clamping down on Chinese ownership of terminals on home soil. The United States Trade Representative (USTR) has finally outlined the ways it feels Washington DC can fight back against the dominance China…