The government in South Korea will increase its support for its strained shipbuilders by USD 60 million. The funds will be earmarked for expanding the yards' presence in, among other sectors, the market for LNG vessels, reports Yonhap.
Bunker company Stonewin, founded by a former trader from Glencore and Trafigura, declares itself ready to deliver low-sulfur fuel in the Indian Ocean as early as May 1.
Maersk COO Søren Toft looks with concern at the latest numbers for container growth so far in 2019, he says in an interview with ShippingWatch. ONE Chief Executive Jeremy Nixon expects growth in the global economy of as little as 2.5 percent.
Chevron has awarded John Fredriksen's Archer a five-year contract in the British North Sea. The agreement applies to two rigs and can be extended.
Oil major Equinor pledges to test how all its large current and future investments fit with the goals set out in the Paris climate accord. This could help change the strategy, says the company's management.
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Container liner APL booked a large deficit in 2018 and is now going through the same cost reduction plan as its owner, CMA CGM. According to Alphaliner, part of the losses is due to APL selling vessels to help CMA CGM.
More container ships will be taken out of service in the last months of the year to have scrubbers installed. Upwards of 30 ships are expected to be removed from the global fleet every month, writes Alphaliner.
The US will not extend the waivers to exempt export of Iranian oil from sanctions. This could make rates in the tanker market increase, projects Clarksons.
BW Offshore has secured a contract extension with Brazil's Petrobras. The contract is for an FPSO vessel which is already working for the oil major.
The LNG market is "fragmented", and there is potential for greater consolidation, John Fredriksen's Flex LNG says to ShippingWatch. The shipping company says it is prepared to buy up, according to CEO.
After a two year wait, the partnership between Royal Arctic Line and Eimskip has now been approved by the Icelandic authorities. "This was the last turn before the finish line," Royal Arctic Line CEO Verner Hammeken tells ShippingWatch.
A structural flaw in the hull of Stellar Daisy made the large bulker sink in 2017 in an accident that cost 22 lives, concludes casualty investigation report. The report rejects liquefied cargo as main cause of the wreck.
Qatar's huge LNG vessel order could end up exceeding 100 ships, says the country's energy minister in connection with the order being sent to tender.
HMM's new chief executive will this week visit Maersk in Copenhagen as well as MSC in Geneva "to consolidate the relationship" with the 2M alliance. HMM's agreement with the container alliance expires in April 2020.
The UK Chamber of Shipping points to a lack of certainty in the debate concerning open-loop scrubbers. Rather, critics seem guided by commercial motivations, says the lobby association.
Greek shipowner Costamare has chartered out 10 container vessels in the first quarter. Among the charterers are shipping companies Maersk, Evergreen and ONE.
Two Swedish shipping companies join forces to establish a new ship operator that will sail from ports in Sweden and Finland. The company has five ships so far and plans to order upwards of four LNG-powered newbuilds.
Thorco Projects is staying out of the acquisitions that have characterized the project cargo market in recent years. "I'm just delighted that it's not me," Chairman Thor Stadil tells ShippingWatch.
The South Korean government extends its support for cities affected by the decline in the country's shipbuilding industry. Revitalization of the economy is being delayed, says the South Korean industry ministry.
The US announced Monday that sanctions will be imposed on all countries buying oil from Iran, thus canceling prior exemptions for the eight largest buyers.
Maersk and IBM's blockchain platform Tradelens now gets another shipping line on board – a player which already collaborates with Maersk in the 2M Alliance.
Swiss-based Panalpina, which recently agreed with DSV on a sale, finished the first quarter with an improved consolidated profit. Cargo volumes in ocean freight decreased.
BBC Chartering has once again overtaken Cosco's specialized ship operator to become the largest company in project cargo. Thorco goes down on the list, though its CEO tells ShippingWatch that he does not recognize the numbers.
Bunker company Monjasa expects to be free of a long-standing dispute with Danish tax authorities this year. The company expects to get a large tax refund.
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