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  • Bulker and boxship owners weigh risks of Strait of Hormuz

    Star Bulk and Maersk Line to continue trading in targeted area as Jefferies analyst Randy Giveans says attacks on these types of vessels are 'highly unlikely'

    Casualties  tradewindsnews.com 32 minutes old Michael Juliano

    Scorpio Bulkers 'prepared' for trade war risks

    New York-listed bulker owner has spent last six months raising liquidity, president Robert Bugbee says.

    Dry cargo  tradewindsnews.com 2 hours old Michael Juliano

    Tidewater CEO Rynd preaches discipline as offshore recovers

    New York-listed OSV owner working to reactivate 10 vessels that have found work.

    Offshore  tradewindsnews.com 2 hours old Matt Coyne

    MACN aims to launch port corruption index

    Maritime Anti-Corruption Network sets out plan to develop a Global Port Integrity Index

    Legal  tradewindsnews.com 4 hours old Paul Berrill

    Avance Gas eyes Fredriksen-driven fleet growth and a possible US listing

    VLGC owner embraces change of identity from a Stolt-Nielsen unit to full integration with tycoon’s empire

    Gas  tradewindsnews.com 4 hours old Max Tingyao Lin

    Parker’s Poseidon coup only first step in carbon revolution

    Eleven global banks deserve credit for taking the initiative on a critical issue, yet they must be pushed to commit to greater transparency to force real cuts in carbon pollution

    Finance  tradewindsnews.com 5 hours old Julian Bray

    De Stoop: 'We are scrubber watchers'

    The new Euronav CEO sounds a lot different from the old Euronav CEO when it comes to talking about exhaust-cleaning devices and his fleet.

    Tankers  tradewindsnews.com 6 hours old Joe Brady

    Solus looks to sell quartet of Nautical ultramaxes

    Another case of private equity’s dwindling patience appears to underlie the latest attempt to cash out a losing bet, this time in Wilbur Ross-founded venture

    Dry cargo  tradewindsnews.com 6 hours old Joe Brady

    Middle Eastern VLCC market returns to life with spot rate hikes

    Led by the MOL-owned Kasagisan, at least four VLCCs are tentatively booked at stronger rates than pre-attack levels.

    Tankers  tradewindsnews.com 7 hours old Max Tingyao Lin

    Viking cruiseship crash captain not drunk

    The master of a Viking River Cruises vessel involved in a fatal collision last month was not drunk, Hungarian police have said. Clash involving Viking ship kills seven in Hungary ABC cited a police spokesman as saying that tests showed the 64-year-old Ukrainian captain of the Sigyn, named as Ukrainian Yuriy C, was not under the influence of alcohol or drugs at the time of the accident in Budapes

    Casualties  tradewindsnews.com 7 hours old Gary Dixon

    Avenir LNG mulls employment options for first newbuilding

    Small-scale venture Avenir LNG is considering the employment options for its first newbuilding, which will be delivered in just over six months. Avenir commercial director Mats Fagerberg told TradeWinds that the first of four 7,500-cbm LNG newbuildings being built by the company is scheduled for delivery in December. That is in advance of the planned mid-2020 start-up of a new LNG-receiving termi

    Gas  tradewindsnews.com 7 hours old Lucy Hine

    Atlantica Shipping boosts fleet with boxship buy

    Atlantica Shipping has bought a 14-year-old, German-controlled containership. Johan Werner, managing director of the low-profile Norwegian shipowner, confirmed the purchase of the 3,091-teu JPO Leo (built 2005). Brokers said it is paying $6.8m for the ship. Atlantica Shipping sells kamsarmax to Oldendorff Equasis lists the JPO Leo as controlled by a KG (limited partnership) backed by HanseConto

    Liner  tradewindsnews.com 8 hours old Trond Lillestolen

    BSC to add 32 tankers, bulkers and LNG carriers

    Bangladesh Shipping Corporation (BSC) has revealed its latest fleet update plan to add 32 ships. The UNB news agency reported that the state-run owner wants a range of tankers, bulkers, LNG carriers and boxships to join its fleet by 2041. BSC plots orders for 26 more tankers and bulkers The aim is to cut back on charter fees of BDT 24bn ($284m) paid by the state each year to overseas owners, an

    Tankers  tradewindsnews.com 8 hours old Gary Dixon

    War-risk rates to rise further after Gulf terror attacks

    Premiums soar as Japanese and Norwegian providers of war-risk cover prepare to shoulder the full cost of most recent Fujairah attacks

    Insurance  tradewindsnews.com 9 hours old Adam Corbett

    West of England targets offshore market as members go for growth

    Key appointments made in stage one of modernisation drive at 150-year-old P&I club

    Insurance  tradewindsnews.com 10 hours old Adam Corbett

    Greeks hail IMO fuel flashpoint action plan

    UGS sees first signs of IMO putting oil industry on the hook for new, clean bunkers

    Legal  tradewindsnews.com 11 hours old Harry Papachristou

    PGS axes $675m refinancing

    Seismic vessel owner PGS has axed a major refinancing plan in which it had hoped to raise up to $675m, due to lack of investor appetite. PGS mulls bond issue to meet $675m refinancing target PGS targets $675m in seismic refinancing effort "As a result of increased volatility in the capital markets and investor sentiment towards oil field service post-launch, PGS has not been able to reach the

    Finance  tradewindsnews.com 11 hours old Holly Birkett

    Sleeping seafarer charged over hard grounding

    The Swedish coast guard has blamed a sleeping crew member for the hard grounding of a cargoship on Sunday. It said a criminal case has begun relating to negligence in sea traffic. Cargoship hard aground off Sweden The 1,500-dwt Bonita (built 1987) went aground north of Kallandso. "In the interrogation of the crew, a person has acknowledged that he or she has fallen asleep during his guard, w

    Casualties  tradewindsnews.com 11 hours old Gary Dixon

    Panama Canal offers discounts for bigger cargo volumes

    Waterway's authority proposing cuts for lines moving more boxes.

    Liner  tradewindsnews.com 11 hours old Gary Dixon

    Two biggest investors build Hapag-Lloyd stakes

    CEO Jansen regrets reduced free float as CSAV and Klaus-Michael Kuhne add stock worth $139m.

    Liner  tradewindsnews.com 12 hours old Gary Dixon

    Swedish Club taps into big data for loss prevention

    Gothenburg-based mutual is trialling new claims and loss-prevention technology as it looks to the future

    Insurance  tradewindsnews.com 12 hours old Adam Corbett

    Business focus: Greek shipping looks to the future

    Cultural changes, greater LNG investment and finding the mariners of the future are all helping the country’s sector to prosper.

    Finance  tradewindsnews.com 12 hours old Harry Papachristou

    Greek shipping is stepping on the gas

    A burst of investment in LNG carriers is just one sign that Greek shipping's animal spirits are alive and kicking

    Gas  tradewindsnews.com 12 hours old Harry Papachristou

    MSC crew arrested in $1bn cocaine bust

    Two seafarers accused of smuggling drugs on MSC Gayane after raid in Philadelphia.

    Legal  tradewindsnews.com 14 hours old Gary Dixon

    Downing trims Braemar stake on back of share price rally

    After latest disposal UK investment firm now owns less than 4.5% of UK-listed broker.

    Finance  tradewindsnews.com 14 hours old Dale Wainwright

    Grimaldi master and officers deny arson in car carrier case

    Trio appear in Spanish court in connection with blaze on Grande Europa in May.

    Legal  tradewindsnews.com 14 hours old Gary Dixon

    Untying the knot of Italian ship arrest law

    Michele Mordiglia shines a light on the grey area of competing laws on vessel seizures.

    Legal  tradewindsnews.com 15 hours old Gary Dixon

    Katy Ware takes the reins at UK Ship Register

    MCA’s director of maritime safety and standards adds flag state responsibilities in expanded role.

    Casualties  tradewindsnews.com 17 hours old Dale Wainwright

    Argentina LNG emerging as potential Asia supply source

    Rising production and proximity to China key bonus points for South American nation.

    Gas  tradewindsnews.com 18 hours old Dale Wainwright

    Front Altair crew head home or re-board vessel

    Frontline says following further inspections LR2 will ultimately head to a shipyard for repair.

    Casualties  tradewindsnews.com 20 hours old Dale Wainwright

    Evergreen seeks offers on nine giant, scrubber-fitted boxships

    Taiwanese container carrier ducks the dual-fuel option as it readies $1.7bn order

    Liner  tradewindsnews.com 23 hours old Lucy Hine and Irene Ang

    EuroDry open to growing beyond seven ships

    New York-listed bulker owner may grow fleet either through vessel buys or M&A, chief executive Aristides Pittas said.

    Dry cargo  tradewindsnews.com 24 hours old Michael Juliano

    Heidmar's US offices to survive Economou takeover

    US headquarters in Norwalk, Connecticut and second outpost in Houston will take different business paths under direction of new CEO Pankaj Khanna.

    Tankers  tradewindsnews.com 18 Jun 19:53 GMT Joe Brady

    Genco 'primed' for fleet expansion

    Shipowners are "moving away from asset play," chief executive John Wobensmith says.

    Dry cargo  tradewindsnews.com 18 Jun 16:58 GMT Michael Juliano

    Turbulence is the only certainty as the US and Iran talk tough

    Fears that tensions will escalate are casting a cloud over the region’s tanker markets

    Tankers  tradewindsnews.com 18 Jun 16:32 GMT Terry Macalister

    Pressures on environment and governance impact finance

    Voices of investors, banks and others growing louder in the ears of shipowners as march of environmental and social issues picks up pace.

    Finance  tradewindsnews.com 18 Jun 16:18 GMT Joe Brady

    EuroDry to redeem some of its preferred shares

    EuroDry plans to take back millions of dollars worth of preferred shares while lowering its dividend rate for the remaining shares. The Aristides Pittas-led bulker owner has agreed to redeem approximately $4.3m, of its Series B Preferred Shares, which have a total value of $19.7m as of 31 March. Since January, the shares carried an annual dividend of 12%, which is set to increase to 14% in Janua

    Dry cargo  tradewindsnews.com 18 Jun 15:49 GMT Michael Juliano

    Court kicks out Cockett Marine's challenge in OW Bunker case

    The UK high court has dismissed Cockett Marine Oil's bid to challenge a tribunal ruling in a dispute over bunker payments arising from the collapse of Denmark's OW Bunker (OWBG). Justice Nigel Teare ruled that the London panel was entitled to make awards against the company and in favour of ING Bank. Supplier to appeal ruling in OW Bunker vs Cosco lawsuit OW Bunker fallout forces ‘old school’ s

    Legal  tradewindsnews.com 18 Jun 14:34 GMT Gary Dixon

    Crew arrested after Spain swoops on hashish cargo

    Eight Ukrainians held after raid on cargoship off Cartagena.

    Legal  tradewindsnews.com 18 Jun 13:10 GMT Gary Dixon

    Vilma Oil’s $50m charter backs KSS newbuilding

    Spanish trading firm reaches deal with South Korean shipowner on VLGC

    Gas  tradewindsnews.com 18 Jun 12:32 GMT Irene Ang

    Veteran London litigator Marcus Bowman to leave HFW — but will not go far

    Two-time managing partner to start fresh chapter in his career as an independent mediator

    Legal  tradewindsnews.com 18 Jun 12:07 GMT Gary Dixon

    Sole Shipping seals double VLCC leaseback deal with Landbridge

    Norwegian lessor arranges $91m of finance with Credit Agricole and BNP Paribas.

    Tankers  tradewindsnews.com 18 Jun 11:42 GMT Gary Dixon

    Norden guests get a truly global taste of summer

    More than 600 guests joined Norden at its Copenhagen headquarters to ring in the summer. A DJ provided the music as the Danish shipowner treated guests to food from the six continents where the company has offices. “An outdoor event for more than 600 shipping people is a tall order but was conducted brilliantly by CEO Jan Rindbo and his colleagues,” Maersk Broker wrote on LinkedIn.

    Weekly  tradewindsnews.com 18 Jun 11:32 GMT Eric Martin

    Charterer Bunge joins transparent ship recycling drive

    US bulker charterer Bunge has become the first agribusiness company to join the Ship Recycling Transparency Initiative (SRTI). The organisation aims to create a new norm for responsible ship recycling, using an online platform to gather information from shipowners on social and environmental measures. Teekay joins transparent ship recycling initiative Maersk joins transparent scrapping initiati

    Dry cargo  tradewindsnews.com 18 Jun 11:09 GMT Gary Dixon

    Mercy Ships hopes market magic will boost Cargo Day

    Fundraisers are hoping a seasonal upswing in the tanker markets will boost this year's donations to the $1m mark

    Passenger ships  tradewindsnews.com 18 Jun 11:00 GMT Geoff Garfield

    Mercury Maritime makes its first foray into handysize scene

    A new Greek company called Mercury Maritime has taken delivery of its first bulker. The Athens outfit, registered with Greek authorities by Jason Merkouris late last year, will manage the 36,600-dwt Serenity (ex-Nord Rotterdam, built 2011). The Hyundai Vinashin Shipyard-built vessel reportedly changed hands in March for about $11.5m, but its buyers were been revealed at the time. Greeks renew d

    Ship Sales  tradewindsnews.com 18 Jun 10:30 GMT Harry Papachristou

    Kim Heng to supply OSVs for offshore windfarms in Taiwan

    Kim Heng Offshore & Marine has signed a memorandum of understanding (MoU) with Taiwan's Hung Hua Construction (HHC), under which the partners will cooperate on offshore windfarm projects. Kim Heng Offshore eyes move into bunker tanker sector The Singapore-based shipowner will provide offshore support vessels (OSVs), tugboats and barges to the marine construction company through charters, sale or

    Offshore  tradewindsnews.com 18 Jun 10:20 GMT Holly Birkett

    More US troops head to Gulf after attacks

    The US is sending more troops to the Middle East as the government released new photos claiming to show evidence of a mine attack on a Japanese tanker in the Strait of Hormuz last Thursday. Acting secretary of defence Patrick Shanahan said in a statement that he had authorised 1,000 additional troops to be sent "to address air, naval, and ground-based threats in the Middle East." "The recent Ira

    Tankers  tradewindsnews.com 18 Jun 10:18 GMT Gary Dixon

    Grimaldi and Wartsila shave 3.5% off fuel bills

    Italian owner Grimaldi Group has developed a device to boost fuel efficiency by 3.5%. It teamed up with technology company Wartsila and Dutch research institute Marin. The kit is suitable for ships with controllable pitch propellers (CPPs). All eco options open for Grimaldi It uses a pre-swirl stator, the stationary portion of a motor. Sea trials on a Grimaldi car carrier confirmed the 3.5% f

    Passenger ships  tradewindsnews.com 18 Jun 09:49 GMT Gary Dixon

    Ex-Liberia flag boss Bergeron joins Oldendorff Carriers

    Long-standing head of world's second largest flag joins German dry bulk giant in strategy role.

    Tankers  tradewindsnews.com 18 Jun 09:31 GMT Julian Bray

    Tanker brushes bridge in US

    An investigation has begun after an Oman Shipping-managed tanker hit a bridge in the US. The US Coast Guard said the Sunshine Bridge in Louisiana was closed for two hours on Sunday after it was damaged by the 46,000-dwt Dank Silver (built 2016). WAFB cited the Louisiana Department of Transportation and Development (DOTD) as saying the tanker hit the fender system that protects the structure. No

    Casualties  tradewindsnews.com 18 Jun 09:18 GMT Gary Dixon

    Owners must take a prudent approach to pollution delays

    Guilty or not, concerns over spills and scrubbers mean shipowners must prepare for more holdups

    Insurance  tradewindsnews.com 18 Jun 08:54 GMT Nick Rowe

    Fredriksen's Flex LNG lists on New York Stock Exchange

    Listing comes 15 years to the day after founder John Fredriksen's Ship Finance International went public on the exchange

    Gas  tradewindsnews.com 18 Jun 08:43 GMT Lucy Hine

    Panos Laskaridis explains the sea change in Greek shipowners’ mindset

    ECSA president talks about the cultural changes that have swept through the marine sector

    Tankers  tradewindsnews.com 18 Jun 08:12 GMT Harry Papachristou

    CSSC Shipping trades down after $252m IPO falls short

    Shares in CSSC (Hong Kong) Shipping have fallen back after the company carried out an HKD 1.97bn ($252m) IPO in Hong Kong on Monday. Last month, the shipowning arm of state-owned shipbuilder China State Shipbuilding Corp (CSSC) said it was aiming to raise HKD 2.2bn by selling stock at between HKD 1.34 and HKD 1.42 each. CSSC Shipping aims for $280m in Hong Kong IPO It listed at the lower price

    Finance  tradewindsnews.com 18 Jun 07:40 GMT Gary Dixon

    Integral Shipping and Trading eyes bond issue

    Geneve-based company launches book building process for Euro-denominated notes.

    Finance  tradewindsnews.com 18 Jun 06:47 GMT Dale Wainwright

    DFDS targets acquisitions in new five-year plan

    Danish ro-ro group DFDS is looking to boost profit over the next five years - and will be looking to buy businesses. The aim is to grow revenue and earnings through developing and expanding its shipping network. DFDS plans unsecured offering to refinance maturing bonds It wants EBITBA to reach DKK 5.5bn ($828m) by 2023, compared to DKK 3.6bn for 2018. The owner said a third of this will come f

    Ship Sales  tradewindsnews.com 18 Jun 06:28 GMT Gary Dixon

    Conti wins MSC Flaminia waste case at ECJ

    European court rules in German owner's favour in row with authorities over debris on burned-out boxship.

    Legal  tradewindsnews.com 18 Jun 05:58 GMT Gary Dixon

    Intermarine aims to make Portland UK’s scrubber hub

    Dorset-based firm hopes to tap English Channel and Atlantic routes after tie-up with Chinese manufacturer.

    Shipyards  tradewindsnews.com 18 Jun 05:23 GMT Dale Wainwright

    Lars Moller sees jail term increased to five years

    Defence lawyer for ex-OW Bunker executive describes decision as a “big shock”.

    Legal  tradewindsnews.com 18 Jun 03:25 GMT Dale Wainwright

    d’Amico and Mitsubishi make second MR disposal in 2019

    Italian owner says S&P deal strengthens its liquidity position and sheds one of its older vessels

    Ship Sales  tradewindsnews.com 18 Jun 02:29 GMT Dale Wainwright

    May sees slight uptick in incidents of Asian piracy

    Incidents took place off India, Indonesia, the Philippines and Singapore Strait, says ReCAAP.

    Casualties  tradewindsnews.com 18 Jun 01:29 GMT Dale Wainwright

    Japanese shipyards bank on eco rules to boost orderbook

    The world’s third-largest shipbuilding nation is looking to IMO 2020, as well as LNG and LPG demand, to help it boost competitiveness, says the new JSEA president

    Shipyards  tradewindsnews.com 18 Jun 01:09 GMT Max Tingyao Lin

    Big banks to credit shipowners who cut carbon pollution

    Major financial institutions to incentivise loans for less polluting ships as industry faces urgent calls to cut greenhouse gas emissions

    Finance  tradewindsnews.com 17 Jun 22:00 GMT Julian Bray

    Shipping's last investors survey the carnage and smile

    Evermore Global Advisors and Castlewood Capital Partners may not have much company in the sector, but that's just the way they like it ahead of expected IMO 2020 boost.

    Finance  tradewindsnews.com 17 Jun 20:54 GMT Joe Brady

    Capital Ship, crew charged in pollution case

    Capital Ship Management and two crew members aboard one of its ship are facing charges after allegedly dumping oil at sea repeatedly last year. Ioan Luca and Ionel Surla, chief engineers aboard the 115,590-dwt CMA CGM Amazon (built 2015) last year, directed crew members to reroute oily bilge water into a different tank used to collect condensation from the engine's air cooler, according to an ind

    Legal  tradewindsnews.com 17 Jun 20:25 GMT Matt Coyne

    Public appeals judge's decision on Carnival dumping case

    US District Court Judge Patricia Seitz imposed a $20m fine on Arnold Donald-led Carnival for violating probation tied to a 2016 felony that came with $40m fine.

    Passenger ships  tradewindsnews.com 17 Jun 20:18 GMT Michael Juliano

    Second LNG carrier homes in on Prelude FLNG

    Tracking data show second ship expected within hours while first cargo heads to Asia

    Gas  tradewindsnews.com 17 Jun 13:48 GMT Lucy Hine

    How TEENS is rekindling seamanship in Greece

    Shipping tycoon's nautical school seeks to nurture a new generation of mariners

    Casualties  tradewindsnews.com 17 Jun 13:25 GMT Harry Papachristou

    Titan LNG's new barge performs first bunkering

    Company has second unit under-construction and is already working on number three

    Gas  tradewindsnews.com 17 Jun 13:22 GMT Lucy Hine

    ESL parent adds $22.5m credit facility

    Aspo, the parent of Finnish bulker owner ESL Shipping, has signed a new €20m ($22.5m) revolving credit facility. The cash is being made available by Danske Bank. The loan maturity is three years. The facility is replacing a prior revolver of the same amount that had remained unused.

    Dry cargo  tradewindsnews.com 17 Jun 13:13 GMT Gary Dixon

    London Club slips to $25.8m loss

    High claims costs hit P&I insurers’ bottom line.

    Insurance  tradewindsnews.com 17 Jun 13:00 GMT Adam Corbett

    Eurobank buys Piraeus Bank's Bulgarian operation

    Greek shipping lender Eurobank has completed the acquisition of Piraeus Bank's Bulgarian unit. The combination of the bank and Piraeus Bank Bulgaria (PBB) will have a market share in the country of more than 10%, ranking third in terms of total loans. Stavros Ioannou, Eurobank’s deputy CEO, said: “The acquisition of PBB is a major milestone in implementing our strategy to focus on markets where

    Finance  tradewindsnews.com 17 Jun 12:52 GMT Gary Dixon


    US-Cuba cruise ban turns vice on Miami’s Big Three

    Carnival Corp, Royal Caribbean Cruises and Norwegian Cruise Line Holdings face loss of revenue as premium destination ruled off limits

    Passenger ships  tradewindsnews.com 17 Jun 12:26 GMT Michael Juliano

    BP, Koch suezmax rates spike higher after tanker blasts

    Tighter vessel supply, higher insurance and bunker costs are boosting crude tanker rates in the Middle East by WS20 following last Thursday’s attacks.

    Tankers  tradewindsnews.com 17 Jun 11:21 GMT Max Tingyao Lin

    Renos ruling clarifies 110-year-old insurance act

    Law firm Thomas Cooper explains importance of Supreme Court verdict for P&I clubs.

    Casualties  tradewindsnews.com 17 Jun 11:07 GMT Gary Dixon

    Russia makes the cut as Paris MoU's white list expands

    Lithuania and Russia are the latest countries to be added to the Paris MoU on Port State Control's white list, which comprises vessel registries with a consistently low detention record. The Paris MoU's best performing flags in 2018 The Paris MoU today released its latest performance list for flags and recognised organisations (ROs), which is based on its 2018 inspection results. Some 18 flags

    Casualties  tradewindsnews.com 17 Jun 11:00 GMT Holly Birkett

    Maersk eyes Arctic route tie-up with Atomflot

    Danish containership giant AP Moller-Maersk is in talks with Russa's Atomflot over a new Arctic shipping service. Maersk completes NSR trial - but no plans to use it yet It told Reuters that it could send more cargoes via the Northern Sea Route (NSR) in partnership with Atomflot's icebreaker operator Rosatomflot. “We have experienced growing demand for transport of goods from the Far East to We

    Liner  tradewindsnews.com 17 Jun 09:46 GMT Gary Dixon

    Burning car carrier abandoned off Philippines

    A car carrier has been abandoned off the Philippines after it caught fire. The GMA website cited Philippine Coast Guard (PCG) spokesperson Captain Armand Balilo as saying the ship in question is K Line's 6,400-ceu Diamond Highway (built 2004). It was off Recto Bank in the West Philippine Sea at the time, he said on Monday. The vessel was en route from Singapore to Batangas. All 25 crew were re

    Casualties  tradewindsnews.com 17 Jun 09:28 GMT Gary Dixon

    Arne Fredly ups stake in Hunter Group

    The Hunter Group investor has spent around $400,000 in boosting his stake in the company to almost 30%.

    Tankers  tradewindsnews.com 17 Jun 09:20 GMT Holly Birkett

    Platsidakis goes on a straight-talk campaign over emissions regulation

    Putting the onus on owners alone is the wrong way to tackle shipping’s carbon footprint, argues major Greek shipping executive

    Tankers  tradewindsnews.com 17 Jun 08:45 GMT Harry Papachristou

    Cargoship hard aground off Sweden

    Divers en route to assess hull damage.

    Dry cargo  tradewindsnews.com 17 Jun 07:23 GMT Gary Dixon

    KOTC tanker and X-Press boxship collide

    A Kuwaiti tanker and a feedership have collided at the port of Chittagong in Bangladesh. KOTC, the owner of the 46,000-dwt Burgan (built 2013), said on Thursday the incident was minor, resulting in no spill and no casualties. Photos showed the ship and X-Press Feeders' 1,706-teu X-Press Mahananda (built 2007) initially locked together head-on after the clash. Kuwaiti state news agency K

    Casualties  tradewindsnews.com 17 Jun 06:42 GMT Gary Dixon

    Hunter agrees sale of first VLCC for eye-catching $98m

    Arne Fredly-backed Hunter Group has defied the sceptics to clinch the sale of a VLCC resale for a whopping $98m. The Oslo-listed company said the unnamed Far East buyer will pay a 20% deposit. The DSME newbuilding will be delivered on 31 October. Will Fredly be able to sell newbuilding duo? It said it was "still in advanced discussions regarding the sale of a second vessel." TradeWinds report

    Ship Sales  tradewindsnews.com 17 Jun 06:17 GMT Gary Dixon and Holly Birkett

    Hapag-Lloyd to redeem $314m bond

    German container line Hapag-Lloyd is buying back a €280m ($314m) notes issue to boost its capital structure. The debt carries 6.75% interest to 2022. 'Manageable' orderbook can prevent 'big crisis' in container shipping, says Hapag-Lloyd The owner is paying a fixed redemption price of 103.375%, mainly using cash. But €100m will come from an existing credit facility. "The complete repayment of

    Liner  tradewindsnews.com 17 Jun 06:06 GMT Gary Dixon

    GasLog Partners seals LNG carrier period deal with Gunvor

    Fixture will have a variable rate of hire across the charter period based upon an agreed range.

    Gas  tradewindsnews.com 17 Jun 05:09 GMT Dale Wainwright

    Scale and length of any escalation will decide tanker sector’s fate

    Braemar tanker research guru Anoop Singh outlines possible scenarios that may develop in wake of Thursday's attacks

    Tankers  tradewindsnews.com 17 Jun 02:37 GMT Dale Wainwright

    Thorco Cloud salvage operation to kick-off Tuesday

    MPA to establish 400 metre-wide exclusion zone in Singapore Strait ahead of project start-up.

    Casualties  tradewindsnews.com 17 Jun 00:47 GMT Dale Wainwright

    Front Altair being towed to area off Fujairah

    Chief executive Robert Hvide MacLeod says 'it is too early' to say where the vessel will be docked and whether it will be repaired

    Tankers  tradewindsnews.com 16 Jun 14:27 GMT Michael Juliano , Trond Lillestolen and Eric Martin

    Frontline questions new Gulf fixtures as crew leave Iran

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

    Tankers  tradewindsnews.com 15 Jun 19:04 GMT Julian Bray and Trond Lillestolen

    Front Altair under tow from Iranian waters

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

    Casualties  tradewindsnews.com 15 Jun 12:26 GMT Gary Dixon

    Seanergy widens loss amid Vale dam disaster

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

    Dry cargo  tradewindsnews.com 15 Jun 05:41 GMT Michael Juliano

    Hudson Shipping Lines to boycott scrubber-fitted ships

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

    Dry cargo  tradewindsnews.com 15 Jun 05:04 GMT Michael Juliano

    Euronav raises $50m with tap issue

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

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

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

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

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

    Linblad Expeditions offers to exchange warrants for shares

    New York-based owner also looks to modify exchange ratio

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

    Diana Shipping offers another buyback

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

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

    Will Fredly be able to sell newbuilding duo?

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

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

    Diana Shipping sells another old panamax

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

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

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

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

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