RSS for TradeWinds.no

Iron price push

Aaron Kelley — Mon, 15 Mar 2010 16:02:44 GMT

Deutsche Bank analyst foresees volatility in the drybulk market as steel mills challenge miners over proposed price increases.

Sweating on trio

Andy Pierce — Mon, 15 Mar 2010 14:49:45 GMT

Cecon hires Fincantieri and other experts to help decide on the future of its Davie Yards’ newbuildings.

Tributes for Koo

Neil Connor — Mon, 15 Mar 2010 14:47:00 GMT

Hong Kong mourns as a legendary shipping figure Koo Kou-Ming dies aged 85.

Saade seeks cash

Eoin O'Cinneide — Mon, 15 Mar 2010 14:34:50 GMT

CMA CGM “awaits offers from several investors” as report on talks with shipowner and private equity firm surfaces.

Carry on cruising

Eoin O'Cinneide — Mon, 15 Mar 2010 13:31:42 GMT

British penchant for cruising sees numbers rise again in 2009 despite recession.

No New York link

Andy Pierce — Mon, 15 Mar 2010 12:21:40 GMT

Wilh Wilhelmsen’s $400m shipping and logistics IPO not flushed out by run of floats in the US financial capital, says Ingar Skaug.

Booze blamed

Eoin O'Cinneide — Mon, 15 Mar 2010 11:31:42 GMT

Deaths of three Russians on Capital Products tanker last week linked to contaminated alcohol.

Offshore auction

Andy Pierce — Mon, 15 Mar 2010 10:17:25 GMT

Clarksons takes charge of bust Remedial Offshore’s asset sales with bids open for its four ships and rigs.

Rescue off US

Eoin O'Cinneide — Mon, 15 Mar 2010 09:58:31 GMT

Hand injury from watertight door on Greek BP-chartered aframax off US lands crewman in hospital.

Sevan pens rig

Eoin O'Cinneide — Mon, 15 Mar 2010 09:05:36 GMT

Cosco Corp (Singapore) wins $500m deal for semi-submersible drilling unit from Norwegian owner.

Michelet quits

Eoin O'Cinneide — Mon, 15 Mar 2010 08:24:52 GMT

Imarex founder and CEO Herman Michelet walks following "different views" on management of Norwegian derivatives player.

Berlian up sizes

Dale Wainwright — Mon, 15 Mar 2010 07:19:07 GMT

Indonesian shipowner says it has increased the size of its recent convertible bond issue by 25%.

Big John scraps

Dale Wainwright — Mon, 15 Mar 2010 06:35:45 GMT

Norwegian shipowner John Fredriksen is said to have sent a VLCC and a suezmax tanker for demo.

Mermaid offloads

Dale Wainwright — Mon, 15 Mar 2010 05:22:54 GMT

Thoresen Thai’s offshore arm is clearing out older tonnage as it prepares to welcome newbuildings.

Hedland lower

Dale Wainwright — Mon, 15 Mar 2010 03:47:36 GMT

The world’s largest bulk exporting port has seen shipments of iron ore slip 13.5% in February.

Titan Mercury sold

Dale Wainwright — Mon, 15 Mar 2010 02:08:39 GMT

Titan Petrochemicals has offloaded another of its single-hulled VLCCs to a Thai shipowner.

Chittagong raised

Dale Wainwright — Mon, 15 Mar 2010 00:23:12 GMT

Asian Feeder Discussion Group to implement rate restoration on Singapore-Bangladesh route in April.

Boxship attacked

Eoin O'Cinneide — Fri, 12 Mar 2010 17:41:21 GMT

E R Schiffahrt vessel ER Lubeck evades pirate assault in Somali Basin but sustains light damage.

Texas tax fight

Aaron Kelley — Fri, 12 Mar 2010 16:39:57 GMT

Gulf Coast player challenges US tax authorities over unfavourable designation of time charter income.

Mercator mum

Eoin O'Cinneide — Fri, 12 Mar 2010 16:11:52 GMT

Indian owner confirms bulker and tanker purchases but keeps lips sealed on ship names.

OceanFreight split

Aaron Kelley — Fri, 12 Mar 2010 12:06:35 GMT

Greek owner proposes reverse stock split after facing Nasdaq delisting dilemma.

Bubble trouble

Eoin O'Cinneide — Fri, 12 Mar 2010 11:49:11 GMT

Defective compass puts Turkish ship on collision course with UK inspectors while Greek bulker freed.

PB pays up

Dale Wainwright — Fri, 12 Mar 2010 08:05:01 GMT

Pacific Basin has extended its charter of a Genco Shipping supramax, but at 28% higher rate.

Red ink for Top

Dale Wainwright — Fri, 12 Mar 2010 07:23:50 GMT

Write-down on two tankers pushes Evangelos Pistiolis-led shipowner to loss for fourth quarter.

Diesen departs

Dale Wainwright — Fri, 12 Mar 2010 03:56:58 GMT

More upheaval at DHT Holdings as chief executive quits and Randee Day takes temporary charge.

Tanker targeted

Dale Wainwright — Fri, 12 Mar 2010 01:38:26 GMT

Dutch-owned chemical tanker has become the latest victim of robbers off the southern tip of Malaysia.

Bidding begins

Aaron Kelley — Thu, 11 Mar 2010 17:46:40 GMT

Transpetro launches into the ethanol trade by inviting shipyards to compete for a 100 vessel order.

Marine meld

Jim Mulrenan — Thu, 11 Mar 2010 14:45:53 GMT

Insurance cover of Torm, Clipper, DFDS and other top owners in contention as Codan buys renewal rights to TrygVesta hull underwriting portfolio.

Log-In loss

Aaron Kelley — Thu, 11 Mar 2010 12:52:05 GMT

Brazilian boxship player Log-In Logistica sees profits slump as domestic trade issues batter the bottom line.

Injury off UK

Eoin O'Cinneide — Thu, 11 Mar 2010 11:21:11 GMT

Crew member rushed to hospital with head injuries after incident on offshore vessel off Scotland.

‘Wind no factor’

Eoin O'Cinneide — Thu, 11 Mar 2010 10:54:43 GMT

USCG hit out at reports “strong winds” and “poor visibility” could have cause Eagle Otome crash off Texas.

Virus strikes

Eoin O'Cinneide — Thu, 11 Mar 2010 10:21:13 GMT

Passengers onboard Fred Olsen cruiseship Boudicca confined to cabins on Mediterranean trip.

Torm tanks

Eoin O'Cinneide — Thu, 11 Mar 2010 09:16:19 GMT

Danish giant sinks into the red and warns of possible large loss in 2010 as dividends axed.

Clarksons up

Eoin O'Cinneide — Thu, 11 Mar 2010 08:38:43 GMT

End of legal spat with Russians and large cost cuts save Andi Case-led broker as sales slump in poor markets.

Ow buys Boheme

Dale Wainwright — Thu, 11 Mar 2010 06:38:04 GMT

Singapore Shipping back in buying mode with acquisition of Wallenius pure car truck carrier.

Brazil job for SMM

Dale Wainwright — Thu, 11 Mar 2010 05:47:44 GMT

SembCorp Marine’s Jurong Shipyard to carry out pre-conversion works on Petrobras FPSO.

China crude high

Dale Wainwright — Thu, 11 Mar 2010 04:06:42 GMT

February’s crude imports into the People’s Republic reached the second highest level on record.

Long Beach jumps

Dale Wainwright — Thu, 11 Mar 2010 00:49:32 GMT

US west coast container port has reported a third consecutive month of growth in volumes.

Seattle surprise

Aaron Kelley — Wed, 10 Mar 2010 16:36:39 GMT

Port of Seattle posts positive results despite a steady decline in container traffic.

Moving downtown

Andy Pierce — Wed, 10 Mar 2010 15:07:08 GMT

Michael Bodouroglou-led Paragon to ditch the Nasdaq for a new listing on the New York Stock Exchange.

Baltic IPO hot

Aaron Kelley — Wed, 10 Mar 2010 12:39:36 GMT

Genco spin-off Baltic Trading hits the mark pocketing $300m from its initial public offering.

MOL bulker sold

Andy Pierce — Wed, 10 Mar 2010 10:55:25 GMT

Japanese owner Mitsui OSK Lines collects nearly $20m from handysize sale, brokers say.

Missing the boat

Andy Pierce — Wed, 10 Mar 2010 10:06:17 GMT

Window of opportunity for rock-bottom newbuilding orders has already closed, analyst says.

Blown off course?

Eoin O'Cinneide — Wed, 10 Mar 2010 09:29:02 GMT

High winds and poor visibility may have led to Texas smash and oil spill involving AET’s Eagle Otome.

Glencore suffers

Dale Wainwright — Wed, 10 Mar 2010 08:23:48 GMT

Ivan Glasenberg-led commodities giant sees full year profits decline 43% on weak prices.

Dalian lower

Dale Wainwright — Wed, 10 Mar 2010 06:41:35 GMT

China’s second largest oil port sees full-year profits come in over one quarter lower than a year ago.

Melbourne up

Dale Wainwright — Wed, 10 Mar 2010 02:29:32 GMT

Australian port makes strong start to 2009 with 12% year-on-year increase in container volumes.

Morten minted

Andy Pierce — Tue, 09 Mar 2010 16:33:44 GMT

Overseas Shipholding Group, led by Morten Arntzen, drags in nearly $160m from a share issue.

Subsea shift

Aaron Kelley — Tue, 09 Mar 2010 16:26:03 GMT

Helix Energy Solutions is offloading its oil and gas subsidiary to bankroll expansion in the subsea sector.

Kamsarmax fixed

Andy Pierce — Tue, 09 Mar 2010 14:31:38 GMT

Polys Hajioannou's Safe Bulkers pens a new contract for one of its ships axed by Daiichi last year.

Aframax action

Aaron Kelley — Tue, 09 Mar 2010 13:48:02 GMT

Brazilian oil giant Petrobras is ready to ink a time charter deal for a tanker tender lasting three years, brokers say.

Pac Basin bound

Andy Pierce — Tue, 09 Mar 2010 12:50:57 GMT

Tonnage-hungry Pacific Basin buys Cido Shipping bulker for $26m, brokers say.

OSG pay play

Aaron Kelley — Tue, 09 Mar 2010 11:54:31 GMT

Morten Arntzen-led tanker giant slashes payouts to board members but says the compensation is still competitive.

PDZ buys boxship

Eoin O'Cinneide — Tue, 09 Mar 2010 11:08:18 GMT

Malaysian intra-Asian feedership operator spends nearly $9m on Yamamaru-owned vessel.

Two tied up

Andy Pierce — Tue, 09 Mar 2010 10:15:21 GMT

Petrobras hires Solstad AHTS while Statoil extends PSV for another year.

Norden eyes buys

Eoin O'Cinneide — Tue, 09 Mar 2010 09:47:59 GMT

Carsten Mortensen-led Dane mulls MR tanker buys as profit slides almost $500m on sales slump.

COA spat settled

Eoin O'Cinneide — Tue, 09 Mar 2010 08:50:42 GMT

Norden walks away with $23m and two-year contract after settling out of court with Russian-backed RTI.

Globus goes lower

Dale Wainwright — Tue, 09 Mar 2010 07:53:11 GMT

Weaker revenues, due to fewer ships, push George Karageorgiou-led bulker owner to $1.2m loss.

K Line scraps

Dale Wainwright — Tue, 09 Mar 2010 06:51:55 GMT

Japanese owner among the first to offer up ship for recycling at new domestic pilot project.

Ningbo eyes IPO

Dale Wainwright — Tue, 09 Mar 2010 05:46:10 GMT

Chinese port set to go ahead with delayed Shanghai listing according to president Li Linghong.

Volumes to rise

Dale Wainwright — Tue, 09 Mar 2010 01:17:33 GMT

Container volumes at US ports are set to see continued strong recovery in March, says trade body.

Petrobras fixes

Aaron Kelley — Mon, 08 Mar 2010 17:54:39 GMT

John Fredriksen-backed Deep Sea Supply has inked two time charter deals with Brazilain oil giant Petrobras.

Jensen Jr steps up

Andy Pierce — Mon, 08 Mar 2010 16:51:21 GMT

Clipper Bulk boss Frank takes over from his father Torben as chairman and CEO of Danish shipping group.

Stena takes four

Andy Pierce — Mon, 08 Mar 2010 15:51:14 GMT

Ulf Ryder’s Stena Bulk swells Samsung Heavy Industries orderbook to six after exercising suezmax options.

Konig eyes Islamic

Eoin O'Cinneide — Mon, 08 Mar 2010 15:31:41 GMT

Middle East market targeted as Tobias Konig-led KG player Konig & Cie sets up Sharia-compliant fund.

Turkish dismay

Jim Mulrenan — Mon, 08 Mar 2010 15:25:14 GMT

A Turkish shipowner is liable to pay damages to a charterer for refusing to carry two potentially hazardous cargoes.

FreeSeas freefall

Aaron Kelley — Mon, 08 Mar 2010 15:21:20 GMT

Athens-based bulker owner posts a loss in the fourth quarter as fleet expansion proves pricey.

Glory moves again

Eoin O'Cinneide — Mon, 08 Mar 2010 14:57:04 GMT

Mystery surrounds Somali pirates’ shift of seized Zodiac ship Asian Glory for third time this year.

Buying dry

Andy Pierce — Mon, 08 Mar 2010 14:05:29 GMT

Bulker sales stay strong amid expectation prices will not be dropping in the near term, broker says.

Double down

Aaron Kelley — Mon, 08 Mar 2010 13:52:06 GMT

Two gambling ships are seized as hedge fund seeks $74m from insolvent Ocean Casino Cruises.

Steel scam busted

Eoin O'Cinneide — Mon, 08 Mar 2010 13:32:47 GMT

Shipping fraudsters suspected of masterminding scrap con from Europe and South American to Asia.

IPO optimism

Andy Pierce — Mon, 08 Mar 2010 12:40:02 GMT

Analysts back Dof’s plans to list NorSkan in Brazil as Norwegian owner’s shares inch up in Oslo.

Mipo order altered

Eoin O'Cinneide — Mon, 08 Mar 2010 11:54:11 GMT

Mystery European owner switches order for chemical duo into bulker trio at Hyundai Mipo Dockyard.

Forth shares soar

Jim Mulrenan — Mon, 08 Mar 2010 11:37:01 GMT

Value of Scottish ports group rises to almost $1bn on takeover approach.

Odfjell confirms

Eoin O'Cinneide — Mon, 08 Mar 2010 11:28:32 GMT

Norwegian owner says tanker Odfjell Fighter heading for Indian breakers at near book value.

Delisting dilemma

Aaron Kelley — Mon, 08 Mar 2010 11:12:12 GMT

Greek shipowner OceanFreight must push up its share price or wave goodbye to its Nasdaq listing.

Moorhouse quits

Julian Bray — Mon, 08 Mar 2010 10:35:20 GMT

David Moorhouse is to stand down as chairman of Lloyd’s Register after a decade at the head of UK classification society.

Greek ship evades

Eoin O'Cinneide — Mon, 08 Mar 2010 10:04:26 GMT

Tramp Maritime bulker Melina 1 chased by pirates for 12 hours off the west coast of India.

Float fillout

Andy Pierce — Mon, 08 Mar 2010 09:04:21 GMT

NorSkan’s fleet will double to 30 or more ships ahead of Brazilian IPO, Dof CEO Mons Aase says.

Osprey free

Eoin O'Cinneide — Mon, 08 Mar 2010 08:25:43 GMT

Eitzen tanker Sichem Osprey heads to Mexico after re-float off remote Pacific island.

Uni-Asia suffers

Dale Wainwright — Mon, 08 Mar 2010 06:58:37 GMT

Japanese ship financier sees fourth quarter results slip into the red on weaker shipping markets.

Havyard Sino first

Dale Wainwright — Mon, 08 Mar 2010 05:52:17 GMT

Norwegian offshore shipbuilding and design group wins first contract from Chinese principal.

Fighter scrapped

Dale Wainwright — Mon, 08 Mar 2010 04:01:22 GMT

Norwegian chemical tanker owner Odfjell sends another elderly vessel to the breakers’ beaches, brokers say.

KOTC scraps trio

Dale Wainwright — Mon, 08 Mar 2010 03:14:52 GMT

Kuwait Oil Tanker Co single-skin VLCCs head for demolition yard in Bangladesh, say brokers.

Viet job for Koon

Dale Wainwright — Mon, 08 Mar 2010 01:33:25 GMT

Singapore civil engineering firm wins $160m project to develop new port in Vietnam’s south.

Repair race

Jim Mulrenan — Sun, 07 Mar 2010 23:31:52 GMT

Fincantieri faces tight timetable to return damaged Costa Europa to service ahead of ten year bareboat charter to TUI offshoot.

Crude feud

Eoin O'Cinneide — Sat, 06 Mar 2010 17:51:08 GMT

NATS’ Herbjorn Hansson cries foul over “negative” campaign by Evangelos Marinakis’ Crude Carriers on IPO roadshow.

Norwegian hit

Eoin O'Cinneide — Sat, 06 Mar 2010 09:22:41 GMT

Twenty one Myanmar crew onboard Brovigs Rederi-owned chemical unit snatched by Somali pirates.

Chavez port crisis

Aaron Kelley — Fri, 05 Mar 2010 17:41:51 GMT

Venezuela’s busiest cargo port is crippled as 2,000 workers go on strike over unpaid wages.

Swiss spend

Andy Pierce — Fri, 05 Mar 2010 17:08:26 GMT

UBS tops up holding in Kristian Siem’s Subsea 7 with $32m swoop.

$45m VLCC deal

Eoin O'Cinneide — Fri, 05 Mar 2010 15:45:30 GMT

Mystery owner shells out for trio of Kuwait Oil Tanker Co single-skin vessels.

Fortress fixed

Andy Pierce — Fri, 05 Mar 2010 15:13:53 GMT

Njal Saevik’s Havila Shipping lands term deal for large PSV in the North Sea.

Death at LA port

Eoin O'Cinneide — Fri, 05 Mar 2010 14:50:48 GMT

Body of naked man who allegedly jumped off Los Angeles pier to escape pursuer pulled from water.

Tax toast

Andy Pierce — Fri, 05 Mar 2010 14:02:22 GMT

Solvang posts larger profit for 2009 following reversal of Norwegian tax law.

Four fall back

Andy Pierce — Fri, 05 Mar 2010 12:17:31 GMT

Supramax quartet at Cosco Zhoushan set for 2010 delivery are delayed by 18 months.

Pirates nabbed

Eoin O'Cinneide — Fri, 05 Mar 2010 12:08:10 GMT

Spate of attacks on vessels in Somali Basin leads to arrest of 11 suspected pirates by French Navy.

Campbell orders

Andy Pierce — Fri, 05 Mar 2010 11:08:42 GMT

Bahamas-based Campbell Shipping pens up to four bulkers at small Chinese yard.

Ice block in Baltic

Eoin O'Cinneide — Fri, 05 Mar 2010 09:53:45 GMT

Rescuers struggle to cope as worst sea ice in 15 years strands dozens of ships off Sweden.

Steimler picked

Dale Wainwright — Fri, 05 Mar 2010 08:47:46 GMT

Former Tankers International boss Michael Steimler appointed to board of under pressure DHT Maritime.

Synergy improves

Dale Wainwright — Fri, 05 Mar 2010 08:15:13 GMT

Restis dry bulk operation still in the red at the end of year, but results mark improvement on 2008.

Thor Sea scrapped

Dale Wainwright — Fri, 05 Mar 2010 06:43:56 GMT

Thailand’s Thoresen Thai Agencies has offloaded another of its elderly general cargo vessels.

Bonds for PB

Dale Wainwright — Fri, 05 Mar 2010 04:29:41 GMT

Hong Kong handysize shipowner Pacific Basin raises $230m from convertible bond issue and cuts cost of financing.

Excel fixes four

Dale Wainwright — Fri, 05 Mar 2010 01:28:22 GMT

Gabriel Panayotides-led bulker owner ties up panamax quintet for just over one year each.

Teekay still in red

Jim Mulrenan — Thu, 04 Mar 2010 16:16:43 GMT

Top tanker owner prioritises cost saving, debt reduction and improved profitability.

Shuttle pain

Aaron Kelley — Thu, 04 Mar 2010 15:16:10 GMT

Teekay Offshore Partners back in the black but shuttle tanker revenue was lower than expected.

Spot security

Jim Mulrenan — Thu, 04 Mar 2010 14:28:10 GMT

Bjorn Moller in optimistic mood as he promises shareholders full spot market earnings will feed through to dividends.

Teekay sells trio

Eoin O'Cinneide — Thu, 04 Mar 2010 14:07:23 GMT

Offshoot Teekay LNG returns to profit and takes suezmax pair and handymax from parent in $160m deal.

Eagle shifts

Aaron Kelley — Thu, 04 Mar 2010 13:40:44 GMT

A JP Morgan analyst maintains his rating for Eagle Bulk Shipping but re-evaluates certain estimates as the bulker owner changes charter focus.

Off to Rio

Andy Pierce — Thu, 04 Mar 2010 12:31:45 GMT

Trans Viking anchor handler signed up for a four-month stint off Brazil at a rumoured $30,000 per day.

Greek detention

Aaron Kelley — Thu, 04 Mar 2010 11:35:14 GMT

A Piraeus-based shipping company may face charges in a “magic pipe” case after a bulker was detained by the USCG.

Black ink not buys

Andy Pierce — Thu, 04 Mar 2010 10:42:29 GMT

Nils Andersen says AP Moller-Maersk has placed a 2010 profit ahead of distressed buys on its priority list.

Master summoned

Eoin O'Cinneide — Thu, 04 Mar 2010 10:41:44 GMT

Investigation into smash and spill in Texas will see Eagle Otome captain and crew testify at USCG hearing.

Horizon ship stalls

Eoin O'Cinneide — Thu, 04 Mar 2010 09:33:25 GMT

Smoke causes crew to shut down engines on Chuck Raymond-led Horizon ship which heads to US for repairs.

Smit stagnant

Dale Wainwright — Thu, 04 Mar 2010 07:40:19 GMT

Dutch tug and salvage company sees profits largely unchanged from a year ago as revenue falls.

Bonds for STXPO

Dale Wainwright — Thu, 04 Mar 2010 06:05:23 GMT

South Korean shipowner set to raise a further KRW200bn from investors with three year bond.

Chemoil crashes

Dale Wainwright — Thu, 04 Mar 2010 04:03:08 GMT

Singapore-based bunker supplier sees fourth quarter profits down by over 75% year-on-year.

Diamond bags trio

Dale Wainwright — Thu, 04 Mar 2010 01:42:26 GMT

US drilling company ties up two semi-submersibles and a drillship to Brazilian oil giant Petrobras.

A broker in days?

Aaron Kelley — Wed, 03 Mar 2010 18:52:06 GMT

If you’re still working on making your first million the sale and purchase market offers easy money!

Freak waves kill 2

Eoin O'Cinneide — Wed, 03 Mar 2010 18:47:40 GMT

Passengers dead and injured after Louis Cruises vessel lashed by huge waves in Mediterranean.

Cheaper, later

Andy Pierce — Wed, 03 Mar 2010 16:46:23 GMT

d’Amico International cuts $10m from price of MR pair at Hyundai Mipo as ships are delayed and size increased.

Brawl on the Wall

Eoin O'Cinneide — Wed, 03 Mar 2010 16:43:50 GMT

DHT’s largest shareholder MMI lashes management and board over axed dividends and ‘opaque’ strategy.

Chevron preps axe

Aaron Kelley — Wed, 03 Mar 2010 14:52:56 GMT

Chevron may cancel the bareboat charter of a VLCC owned by Frontline offshoot Independent Tankers Corp.

Fight continues

Aaron Kelley — Wed, 03 Mar 2010 11:48:04 GMT

Greek shipping interests are seeking arbitration over a $3.9m dispute with a Mexican charterer.

Greek ship evades

Eoin O'Cinneide — Wed, 03 Mar 2010 11:43:12 GMT

Lotus Shipping tanker comes under attack by pirates in same area where Greek bulker hit a week ago.

Fixtures fest

Andy Pierce — Wed, 03 Mar 2010 09:32:31 GMT

Norway’s Farstad Shipping inks fresh charters and extensions worth over $100m.

Maersk axes slots

Eoin O'Cinneide — Wed, 03 Mar 2010 08:52:37 GMT

Maersk Line ending six-year slot charter of Horizon Lines ships in Pacific but hints at replacement.

Eagle sent diving

Eoin O'Cinneide — Wed, 03 Mar 2010 08:34:17 GMT

Full-year profit down at Sophocles Zoullas-led Eagle Bulk as costs increase on anti-piracy measures and finance expenses.

Miclyn in IPO

Dale Wainwright — Wed, 03 Mar 2010 07:23:11 GMT

Second time lucky for Singapore-based offshore owner as it plans to go public with $330m float in Australia.

MOL fixes six

Dale Wainwright — Wed, 03 Mar 2010 06:42:23 GMT

Japanese owner signs long-term charters for up to six LNG carriers including four new ships.

Volumes leap

Dale Wainwright — Wed, 03 Mar 2010 03:39:20 GMT

NOL reports a hefty increase in the number of containers handled, but rates remain weak.

Japan jumps

Dale Wainwright — Wed, 03 Mar 2010 01:15:50 GMT

JSEA member yards have seen export newbuilding orders go up 50% year-on-year in tonnage terms.

Sale underway

Aaron Kelley — Tue, 02 Mar 2010 20:17:01 GMT

Shipowners are “expressing interest” in the sale of three unfinished products tankers linked to AHL shipping.

Lomar ship held

Eoin O'Cinneide — Tue, 02 Mar 2010 16:15:19 GMT

Claim of ‘off-spec’ cargo leads to arrest of UK-owned products tanker in Tanzanian port.

Massive IPO

Aaron Kelley — Tue, 02 Mar 2010 15:50:54 GMT

Brazilian shipyard owner OSX led by billionaire Eike Batista seeks $5.6bn from Sao Paulo listing.

‘Prison’ ship SOS

Eoin O'Cinneide — Tue, 02 Mar 2010 15:07:46 GMT

Greek owner slammed by ‘abandoned’ crew of bulker set for auction over wage dispute amid ‘inhumane conditions’.

Port reopens

Aaron Kelley — Tue, 02 Mar 2010 13:46:33 GMT

Chile’s busiest seaport reopened today while one major copper port remains closed as it continues to assess structural damage to piers.

GSL bounces back

Andy Pierce — Tue, 02 Mar 2010 13:37:39 GMT

Ian Webber-led shipowner returns to the black in fourth quarter as bigger fleet boosts revenue.

Dragnis eyes buys

Eoin O'Cinneide — Tue, 02 Mar 2010 12:24:41 GMT

Four new arrivals possible this year, says Goldenport’s John Dragnis who denies second SPP bulker order.

Swiber still red

Andy Pierce — Tue, 02 Mar 2010 11:17:24 GMT

Raymond Goh-led offshore player sees cost of bond issue contribute to fourth quarter loss.

Growing again

Andy Pierce — Tue, 02 Mar 2010 10:22:14 GMT

Pac Basin revives dry-cargo expansion plans with over $1bn war chest to hand, chairman says.

PB battered

Andy Pierce — Tue, 02 Mar 2010 09:32:11 GMT

Pacific Basin's full-year profit diced by falling income from its dry-cargo unit.

Golden loses shine

Eoin O'Cinneide — Tue, 02 Mar 2010 09:11:16 GMT

Paris Dragnis-led Goldenport Holdings sinks to loss on cancellation costs and waning revenues.

Euroseas better

Dale Wainwright — Tue, 02 Mar 2010 07:23:17 GMT

Aristides Pittas-led boxship and bulker player still reports a loss, but less so than in 2008.

Mercator buys

Dale Wainwright — Tue, 02 Mar 2010 06:22:32 GMT

Indian shipowner’s Singapore arm acquires panamax bulker, but Paragon denies it is the Pearl Seas.

Zodiac eyes five

Dale Wainwright — Tue, 02 Mar 2010 05:12:43 GMT

Ofer group arm said to have acquired five NYK 6,000-teu containerships for under $100m.

POT inches up

Dale Wainwright — Tue, 02 Mar 2010 04:07:10 GMT

New Zealand’s Port of Tauranga has seen interim profits increase despite a 5% fall in tonnage.

Asta found

Dale Wainwright — Tue, 02 Mar 2010 03:01:25 GMT

Tug hijacked off Malaysia last month is recovered in the Philippines under new identity.

Sumatec suffers

Dale Wainwright — Tue, 02 Mar 2010 01:36:08 GMT

Higher impairment charges and doubtful debts push Malaysian tanker owner further into the red.

Capsize probe

Aaron Kelley — Mon, 01 Mar 2010 19:46:08 GMT

The St Lucia Air and Seaport Authority is investigating what caused a containership to capsize after departing the port of Vieux-Fort.

TMM appoints

Aaron Kelley — Mon, 01 Mar 2010 16:44:54 GMT

Management changes continue at Mexico City-based Grupo TMM as the company’s board of directors appoints new executive officers.

Pirate ship zapped

Eoin O'Cinneide — Mon, 01 Mar 2010 16:36:49 GMT

Hijackings averted after NATO scuttles weapons-laden boat off Somalia, no word on fate of suspects.

Leaving SGX

Andy Pierce — Mon, 01 Mar 2010 15:48:05 GMT

Swissco will delist from the Singapore exchange following $125m takeover by C20 Holdings.

Strike at Hanjin

Eoin O'Cinneide — Mon, 01 Mar 2010 15:45:02 GMT

Workers down tools in protest at Hanjin Heavy’s proposal to axe jobs as newbuilding orders slump.

Aponte's back

Andy Pierce — Mon, 01 Mar 2010 15:10:07 GMT

Gianluigi Aponte's MSC Cruise pens newbuilding at STX Europe, its ninth order at the shipyard.

Dead slow for OSG

Jim Mulrenan — Mon, 01 Mar 2010 13:07:29 GMT

Morten Arntzen bemoans most difficult tanker market in 20 years as revenues plunge.

Harvey buys five

Aaron Kelley — Mon, 01 Mar 2010 12:20:02 GMT

Harvey Gulf International pays $100m for five offshore support vessels and secures service contracts with two US oil majors.

MISC sells tanker

Eoin O'Cinneide — Mon, 01 Mar 2010 12:01:41 GMT

Malaysian owner offloads single-huller Bunga Semarak to tonnage-hungry Indonesian Waruna.

Scrap too slow

Andy Pierce — Mon, 01 Mar 2010 11:33:58 GMT

Demolition of single-hull tankers lagging way behind rate required to clear the fleet in 2010, Stopford says.

Eidesvik dented

Andy Pierce — Mon, 01 Mar 2010 10:53:51 GMT

Jan Fredrik Meling-led offshore shipowner sees operating profit hurt by weak markets in the North Sea and West Africa.

Otto driven down

Eoin O'Cinneide — Mon, 01 Mar 2010 10:23:08 GMT

Lower shipbuilding orders and weaker repair sales steer offshore outfit Otto Marine to reduced profit.

Tax to thank

Andy Pierce — Mon, 01 Mar 2010 10:00:53 GMT

Solstad Offshore saved from fourth quarter red ink by $52m payback from the Norwegian taxman.

Rieber to delist

Andy Pierce — Mon, 01 Mar 2010 09:00:07 GMT

Sven Rong’s GC Rieber Shipping to leave the Oslo Bors amid plans to merge with its Bergen-based parent.

Lorenzo buys

Eoin O'Cinneide — Mon, 01 Mar 2010 08:52:47 GMT

Many acquisition details shrouded in mystery as Filipino owner Lorenzo Shipping buys boxship.

Greek ship free

Eoin O'Cinneide — Mon, 01 Mar 2010 08:14:16 GMT

Ransom paid to secure release of bulker Navios Apollon and 19 crew from Somali pirates.

Tove chartered

Dale Wainwright — Mon, 01 Mar 2010 07:51:13 GMT

Knutsen OAS shuttle tanker set for potential three-year fixture for work off the Philippines.

Alam Maritim dips

Dale Wainwright — Mon, 01 Mar 2010 07:12:55 GMT

Weaker market environment sends Kuala Lumpur-listed offshore player’s results downwards.

Polembros scraps

Dale Wainwright — Mon, 01 Mar 2010 06:40:08 GMT

Panamax bulker wins top rate from Bangladeshi breakers, says US cash broker GMS.

Petra plummets

Dale Wainwright — Mon, 01 Mar 2010 05:46:05 GMT

Fourth quarter revenues almost halve at Malaysian offshore vessel operator and contractor.

Scomi sinks

Dale Wainwright — Mon, 01 Mar 2010 05:12:51 GMT

Malaysian coal barge and offshore vessel operator slumps to a fourth quarter loss on impairment charge.

Sealink inches up

Dale Wainwright — Mon, 01 Mar 2010 03:08:31 GMT

Malaysian offshore vessel builder and operator sees fourth quarter profits improve on those of 2008.

Courage prospers

Dale Wainwright — Mon, 01 Mar 2010 01:32:17 GMT

Hsu Chih Chien-led bulker owner sees fourth quarter profits almost double compared to a year ago.

SFI to refinance

Aaron Kelley — Fri, 26 Feb 2010 21:44:14 GMT

John Fredriksen's Ship Finance International working to refinance $675m syndicated loan.

Contracts switch

Aaron Kelley — Fri, 26 Feb 2010 21:40:22 GMT

John-Fredriksen's Ship Finance International converts boxship contracts into orders for seven bulkers.

Eidsiva posts loss

Eric Martin — Fri, 26 Feb 2010 20:11:54 GMT

Oslo-listed car carrier and ro-ro owner posts wider NOK 61.8m loss as impairment charges combine with the bite of charter rate cuts.

SFI soars

Aaron Kelley — Fri, 26 Feb 2010 18:20:49 GMT

John Fredriksen's Ship Finance International reports profits boosted by the sale of a suezmax tanker.

Surprise rise

Andy Pierce — Fri, 26 Feb 2010 16:25:32 GMT

Analysts mystified by Jinhui share rally amid talk bonus payments led it to miss fourth quarter forecasts.

Trio under threat

Andy Pierce — Fri, 26 Feb 2010 14:36:13 GMT

Future of Cecon’s three offshore construction vessels in doubt after Davie Yards files for bankruptcy protection.

Pramoni free

Eoin O'Cinneide — Fri, 26 Feb 2010 13:05:42 GMT

Berlian Laju Tanker and 24 crew freed by pirates after two months of detention off Somalia.

Big John’s pay day

Andy Pierce — Fri, 26 Feb 2010 13:03:51 GMT

Norwegian shipowner John Fredriksen will collect over $250m in dividend payments with the help of Frontline’s bumper payout.

Modec grabs cash

Andy Pierce — Fri, 26 Feb 2010 11:48:27 GMT

Mitsui Engineering & Shipbuilding contributes $90m as FPSO player turns to shareholders for $175m.

ITCL edges ahead

Jim Mulrenan — Fri, 26 Feb 2010 11:23:26 GMT

Frontline linked offshoot books a marginal increase in profit from bareboat tanker chartering.

Management cuts

Andy Pierce — Fri, 26 Feb 2010 10:53:01 GMT

Frontline will not be ditching V.Ships and Thome completely despite setting up its own shipmanagement arm, CEO says.

BLT ransom paid

Eoin O'Cinneide — Fri, 26 Feb 2010 10:22:10 GMT

Pirates set to free Berlian Laju Tanker unit and 24 crew seized on New Year's Day as ransom delivered.

ITC steady

Eoin O'Cinneide — Fri, 26 Feb 2010 10:05:04 GMT

Profit up a little at John Fredriksen’s International Tankers Corp but VLCC rates down.

Golar LNG rises

Eoin O'Cinneide — Fri, 26 Feb 2010 09:22:18 GMT

John Fredriksen company "considering strategic opportunities" as better financials boost bottom line.

Seadrill stronger

Dale Wainwright — Fri, 26 Feb 2010 09:02:04 GMT

Fredriksen-controlled offshore driller sees improved numbers in fourth quarter, raises dividend 10%

Green off colour

Eoin O'Cinneide — Fri, 26 Feb 2010 08:46:15 GMT

Slumping vessel values and lay-ups in weak banana markets send Green Reefers to larger loss.

Frontline lower

Dale Wainwright — Fri, 26 Feb 2010 07:59:55 GMT

John Fredriksen-controlled tanker giant sees fourth quarter profits drop on weaker tanker market.

Jinhui triples

Dale Wainwright — Fri, 26 Feb 2010 07:08:50 GMT

Ship sales plus lower costs help to boost fourth quarter profits at Oslo-listed bulker operator.

Yangzijiang jumps

Dale Wainwright — Fri, 26 Feb 2010 05:11:17 GMT

Chinese shipbuilder sees profits jump substantially on increased number of ships under construction.

Davie files

Dale Wainwright — Fri, 26 Feb 2010 03:22:11 GMT

Canadian yard seeks court protection as it admits offshore shipbuilding was harder than it thought.

DryShips improves

Dale Wainwright — Fri, 26 Feb 2010 01:42:18 GMT

George Economou-led bulker and drillship manages to squeeze out a profit at the end of 2009.

TMM tanks

Aaron Kelley — Thu, 25 Feb 2010 22:43:32 GMT

Mexico City-based tanker and offshore vessel owner Grupo TMM posts a loss in 2009 but reports a gain in annual operating income.

Baltic IPO grows

Eric Martin — Thu, 25 Feb 2010 20:39:35 GMT

Spin-off of Peter Georgiopoulos' Genco Shipping lifts initial public offering to nearly $300m.

Search over

Eric Martin — Thu, 25 Feb 2010 19:55:48 GMT

In incident featured in this week's "Casualty file", search for crew member who fell from the Japanese-controlled Pacific Venus comes up empty.

Seismic bet

Aaron Kelley — Thu, 25 Feb 2010 18:38:45 GMT

CGG Veritas speeds up its fleet restructuring plan based on expectations of increased demand for advanced vessels and a recovery in the seismic sector.

Barge battle

Andy Pierce — Thu, 25 Feb 2010 15:02:48 GMT

Dennis Ling's Hubline says it is facing a claim for $1.2m following a crash off Singapore.

'Slow at best'

Andy Pierce — Thu, 25 Feb 2010 13:49:27 GMT

Randy Effendi’s Samudera is downbeat on the prospects of a liner market revival.

Dacha denial

Gary Dixon — Thu, 25 Feb 2010 11:49:45 GMT

Former Sovcomflot chief Dmitry Skarga tells court he had another way of pleasing his wife rather than doing dodgy property deal for family home.

VLGC torched

Andy Pierce — Thu, 25 Feb 2010 11:15:52 GMT

MOL sends 'for-sale' gas carrier for demolition in China, it is claimed.

Gulfmark lower

Dale Wainwright — Thu, 25 Feb 2010 08:43:01 GMT

US-listed offshore vessel operator ends year with a loss as revenues weakened and costs grew.

Siem brighter

Andy Pierce — Thu, 25 Feb 2010 08:41:40 GMT

Kristian Siem-led shipowner tips improvement in the anchor handler market as it returns to profitability in the fourth quarter.

Double delay

Andy Pierce — Thu, 25 Feb 2010 08:41:04 GMT

Wilson says its newbuilding programmes at two Chinese yards have been held up by at least six months.

Deep Sea falls

Eoin O'Cinneide — Thu, 25 Feb 2010 08:37:23 GMT

John Fredriksen-related Deep Sea Supply’s profit slips on weaker North Sea spot market.

Excel springs back

Dale Wainwright — Thu, 25 Feb 2010 07:47:03 GMT

Gabriel Panayotides-led bulker owner returns to profit after impairment blighted 2008 fourth quarter.

Back in black

Dale Wainwright — Thu, 25 Feb 2010 06:55:31 GMT

After costly end to previous year US-listed dry bulk owner Genco returns to profit in the fourth quarter of 2009.

Aegean inches up

Dale Wainwright — Thu, 25 Feb 2010 05:12:24 GMT

Profits at Nikolas Tavlarios-led bunker player inch up just under 5% from a year ago, but revenues surge.

Genmar turns red

Dale Wainwright — Thu, 25 Feb 2010 03:24:42 GMT

One-off impairment charges push US-listed tanker owner to a $53m loss in the fourth quarter.

Cape identity

Dale Wainwright — Thu, 25 Feb 2010 02:01:06 GMT

Akis Tsirigakis-led Star Bulk Carriers being linked to purchase of Danish owner Norden's former capesize Nord Kraft.

Vancouver down

Dale Wainwright — Thu, 25 Feb 2010 00:54:20 GMT

Despite rises in grain, petroleum and specialty crops Canadian port sees decline in annual volumes.

Tropical weaker

Aaron Kelley — Wed, 24 Feb 2010 22:05:33 GMT

Nicor-owned Tropical Shipping posts a fourth quarter profit but volumes and operating income continue a steady decline.

Dolphin sold

Aaron Kelley — Wed, 24 Feb 2010 19:24:35 GMT

Brokers say D'Amato di Navigazione has sold a seven-year-old panamax products tanker to Felipe Menendez-led Ultrapetrol for $32m.

Loophole probed

Andy Pierce — Wed, 24 Feb 2010 17:17:15 GMT

Could a collection of signatures from Sovcomflot directors prevent it from claiming damages against Yuri Nikitin even if disputed deals proved unlawful?

Star downgraded

Aaron Kelley — Wed, 24 Feb 2010 16:21:36 GMT

Dahlman Rose downgrades Star Bulk Carriers to "hold" based on the company's older fleet profile and active role in risky derivatives contracts.

MISC halved

Eoin O'Cinneide — Wed, 24 Feb 2010 11:25:50 GMT

Liner and chemical loss as well as weak petroleum markets send Malaysian owner to reduced profit.

Li readies cash

Eoin O'Cinneide — Wed, 24 Feb 2010 09:38:11 GMT

Port magnate and Hong Kong billionaire Li Ka-shing set for $1.5bn of investments in UK businesses.

In the balance

Andy Pierce — Wed, 24 Feb 2010 09:15:47 GMT

Nexus Floating Production posts fourth quarter profit but its future remains in the hands of its bondholders.

Taxes save Rieber

Eoin O'Cinneide — Wed, 24 Feb 2010 08:55:27 GMT

Sven Rong-led offshore vessel owner stays in black due to large tax income on recent Supreme Court ruling.

Star stays red

Dale Wainwright — Wed, 24 Feb 2010 08:23:55 GMT

Akis Tsirigakis-led bulker outfit slumps to fourth quarter loss on lower revenues and higher costs.

TTA pick Ragnar

Dale Wainwright — Wed, 24 Feb 2010 07:11:55 GMT

Former Masterbulk Pte chief executive set to take over shipping reigns at Thoresen Thai Agencies.

Canned ships up

Dale Wainwright — Wed, 24 Feb 2010 06:33:37 GMT

Cancelled containership newbuilding orders have now reached 140 ships, says Alphaliner.

BWO SGX bound

Dale Wainwright — Wed, 24 Feb 2010 05:31:11 GMT

BW Offshore boss Carl Arnet says the FPSO specialist is set for a dual-listing in Singapore.

Jungerhans slows

Dale Wainwright — Wed, 24 Feb 2010 04:04:11 GMT

German shipowner is the latest to adopt slow steaming strategy; to retrofit vessels with Wartsila kit.

Capital prices

Dale Wainwright — Wed, 24 Feb 2010 02:24:23 GMT

Evangelos Marinakis-led Capital Product Partners sets price level for planned issue of 5.8m new shares.

OOCL ups rates

Dale Wainwright — Wed, 24 Feb 2010 01:55:00 GMT

Hong Kong liner operator set to implement peak season surcharge on Aussie bound cargoes.

Long Beach higher

Dale Wainwright — Wed, 24 Feb 2010 00:59:23 GMT

US west coast container port has reported a second consecutive month of growth in volumes.

Strange sinking

Aaron Kelley — Tue, 23 Feb 2010 22:44:06 GMT

A German-owned containership en route to Guyana sank off the coast of St Lucia, and the cause remains a mystery.

NCL shines

Aaron Kelley — Tue, 23 Feb 2010 19:11:55 GMT

Norwegian Cruise Line’s return to profitability in 2009 overshadows slump in fourth-quarter earnings.

Diana on target

Aaron Kelley — Tue, 23 Feb 2010 16:46:18 GMT

The Simeon Palios-led bulker owner’s fourth quarter profits are down but in line with Wall Street estimates.

Noren cautious

Andy Pierce — Tue, 23 Feb 2010 14:42:41 GMT

Substantial growth of the tanker fleet is a worry for Hans Noren-led Concordia as it posts weaker Q4 numbers.

Case law lashed

Eoin O'Cinneide — Tue, 23 Feb 2010 14:12:28 GMT

Criminal law rulings involving soldier massacre and theft from psychiatric patients shot down as defence in Sovcomflot trial.

Frangou upbeat

Jim Mulrenan — Tue, 23 Feb 2010 13:37:12 GMT

Weak freight rates are continuing to hit Navios Maritime Holdings freight revenues but Angeliki Frangou remains optimistic about upcoming opportunities.

Buy-back boost

Andy Pierce — Tue, 23 Feb 2010 11:15:15 GMT

Seacor Holdings makes nearly $150m more available to invest in its own stock.

Coal cash

Andy Pierce — Tue, 23 Feb 2010 09:28:32 GMT

Singapore’s Marco Polo Marine pens $10 coal shipment deal within Indonesian waters.

DOF about face

Dale Wainwright — Tue, 23 Feb 2010 09:07:59 GMT

Norwegian offshore vessel operator returns to the black in fourth quarter on fewer write downs.

Mercury poisoning

Eoin O'Cinneide — Tue, 23 Feb 2010 08:31:05 GMT

Hundreds ill with norovirus on cruiseship Celebrity Mercury a week after carbon monoxide breakout.

BWO slips to loss

Dale Wainwright — Tue, 23 Feb 2010 07:19:40 GMT

BW Offshore slides back into the red in the fourth quarter on much lower revenue at APL arm.

Paragon profits up

Dale Wainwright — Tue, 23 Feb 2010 05:51:05 GMT

Lack of write downs helps to boost fourth quarter results at Michael Bodouroglou-led bulker outfit.

Capital to issue

Dale Wainwright — Tue, 23 Feb 2010 04:15:21 GMT

Evangelos Marinakis-led Capital Product Partners to sell 5.8m new shares to fund acquisition.

TSA eyes go slow

Dale Wainwright — Tue, 23 Feb 2010 03:46:39 GMT

Transpacific Stabilisation Agreement given green light by US regulator to discuss slow-steaming.

OceanFreight hit

Dale Wainwright — Tue, 23 Feb 2010 01:25:55 GMT

Write-downs push US-listed shipowner to huge fourth quarter loss in a year it will want to forget.

Bunkers still high

Dale Wainwright — Tue, 23 Feb 2010 00:40:19 GMT

Singapore looks set for another record year for ship fuel sales are getting off to a strong start.

Belgians buy

Aaron Kelley — Mon, 22 Feb 2010 22:22:58 GMT

Bocimar converts tanker order and reveals plans to splash out $410m on dry tonnage.

BW ship sold

Aaron Kelley — Mon, 22 Feb 2010 18:56:32 GMT

An LPG carrier has been sold and will be used for floating storage according to a recent market report.

Eurotankers wins

Jim Mulrenan — Mon, 22 Feb 2010 18:17:36 GMT

Charterer’s claim that pollution certificate issues warranted repudiation of one year tanker charter is rejected by appeal court.

Norden sheds two

Andy Pierce — Mon, 22 Feb 2010 16:08:35 GMT

Danish owner is in for $25m windfall after selling trading cape and handymax newbuilding. Panamax charter cut.

Tanker attacked

Eoin O'Cinneide — Mon, 22 Feb 2010 16:05:56 GMT

US Navy swoops on eight pirate suspects after sustained assault in Gulf of Aden as APL boxship also approached.

Aframax arrest

Aaron Kelley — Mon, 22 Feb 2010 16:00:48 GMT

Sempra Energy Trading targets pool players in a $1m dispute over the grounding of an aframax tanker.

Crime and penalty

Jim Mulrenan — Mon, 22 Feb 2010 14:51:23 GMT

Even if fraud by Yuri Nikitin, Dmitry Skarga and Tagir Izmaylov are crimes under Russian law, restitution may be another matter.

Star buys cape

Eoin O'Cinneide — Mon, 22 Feb 2010 14:28:23 GMT

Akis Tsirigakis-led Greek Star Bulk Carriers spends over $42m on Japanese-built bulker.

PGS short

Andy Pierce — Mon, 22 Feb 2010 13:04:03 GMT

Seismic shipowner Petroleum Geo-Services sees operating profit miss forecasts in the fourth quarter.

Tsakos in JV

Eoin O'Cinneide — Mon, 22 Feb 2010 12:44:47 GMT

Listing in sight as joint venture between Tsakos and Columbia ShipManagement eyes Greek and German markets.

MBC profit falls

Andy Pierce — Mon, 22 Feb 2010 11:41:16 GMT

Robert Kuok’s Malaysian Bulk Carriers sees 2009 profit fall, but it commends its own effort after remaining in the black.

Modec nets more

Andy Pierce — Mon, 22 Feb 2010 10:52:18 GMT

Japanese FPSO player reveals improved full-year profit and boosts its boardroom with election of Mitsui executive.

Sembcorp soars

Eoin O'Cinneide — Mon, 22 Feb 2010 10:29:47 GMT

Singaporean builder and repairer posts large profit gain on back of booming rig-building activity.

Cosco stung

Andy Pierce — Mon, 22 Feb 2010 10:01:14 GMT

“Thorny business climate” hurts 2009 profit at Cosco Corp amid bleak outlook for shipbuilding.

Aker Phil still red

Eoin O'Cinneide — Mon, 22 Feb 2010 09:55:18 GMT

Reduced newbuilding contract value after legal spat with OSG sinks Aker Philadelphia Shipyard further.

Bocimar pens cape

Eoin O'Cinneide — Mon, 22 Feb 2010 09:16:32 GMT

Hanjin Heavy claims Benoit Timmermans-led CMB bulker unit signs up for capesize at Philippines yard.

Odfjell owns up

Andy Pierce — Mon, 22 Feb 2010 09:11:09 GMT

Jan Hammer-led Odfjell confirms purchase of former Eletson Corp newbuilding at SLS.

Tough year

Dale Wainwright — Mon, 22 Feb 2010 09:01:46 GMT

Rederi AB Transatlantic slumps to a full-year and fourth quarter loss as volumes and rates plummet.

Search off Hawaii

Eoin O'Cinneide — Mon, 22 Feb 2010 08:27:51 GMT

USCG called in as crew member goes overboard Japanese cruiseship Pacific Venus.

Daewoo confirms

Dale Wainwright — Mon, 22 Feb 2010 08:11:19 GMT

South Korean shipbuilder puts pen to paper on series of five suezmaxes for Angolan oil company.

Fairstar in profit

Dale Wainwright — Mon, 22 Feb 2010 07:20:08 GMT

Heavy lift specialist returns to the black in the fourth quarter but expresses concern about overcapacity.

APL ups rates

Dale Wainwright — Mon, 22 Feb 2010 06:22:08 GMT

Neptune Orient Lines subsidiary has unveiled a general rate increase on the intra-Asia trade.

Odfjell buys

Dale Wainwright — Mon, 22 Feb 2010 03:40:11 GMT

Norwegian chemical tanker player linked to purchase of SLS 51,000-dwt MR tanker resale.

LME courts Baltic

Dale Wainwright — Mon, 22 Feb 2010 01:22:10 GMT

London Metal Exchange makes second approach to Baltic Exchange over FFA joint venture.

Web auction launch

Dale Wainwright — Sun, 21 Feb 2010 22:49:50 GMT

Take-off for new online auction tool for the shipping community.

Fine levied

Eric Martin — Fri, 19 Feb 2010 21:58:18 GMT

US judge upholds Fleet Management's plea agreement in criminal case over Cosco Busan spill.

Frightening lesson

Eric Martin — Fri, 19 Feb 2010 20:58:58 GMT

Chip and LNG carriers are first to the scene after a tall ship with 64 students and teachers sinks off Brazil.

Dredgers sought

Eric Martin — Fri, 19 Feb 2010 20:19:32 GMT

Florida's Port Manatee seeking bids for dredging for 12.5 metre depth in $200m expansion plan.

Demo doom

Dale Wainwright — Fri, 19 Feb 2010 19:44:52 GMT

Broker says demo prices are inflated and owners should brace themselves for a slide in scrap values.

Two speed scrap

Dale Wainwright — Fri, 19 Feb 2010 19:27:21 GMT

Big challenges lie ahead for many ship recycling yards as new convention kicks in, says GL’s Gramann.

Buyers’ blues

Dale Wainwright — Fri, 19 Feb 2010 19:19:37 GMT

New recycling convention pushed cash buyers “off the hook”.

Recycling blow

Dale Wainwright — Fri, 19 Feb 2010 19:13:35 GMT

War of words as heat turns up on efforts to get new ship recycling convention ratified.

Pressure point

Dale Wainwright — Fri, 19 Feb 2010 19:04:21 GMT

Campaigner says ship recyclers can afford to improve yard standards from pocketing profits.

Looking abroad

Eric Martin — Fri, 19 Feb 2010 17:30:24 GMT

Dahlman Rose analyst says Petrobras may consider taking internationally built units for massive rig and drillship tenders.

Rag plugs hull

Eric Martin — Fri, 19 Feb 2010 16:47:12 GMT

What the crew of a Russian ship may have thought was an innovative solution to a hull crack has landed the vessel in detention.

Eidesvik happy

Andy Pierce — Fri, 19 Feb 2010 15:45:30 GMT

Green Reefers CEO Troil Eidesvik content with NOK 2m yield from subsequent offering despite many of the shares remaining unsold.

Dry-bulk boost

Eric Martin — Fri, 19 Feb 2010 15:43:24 GMT

Stephens analyst upgrades three US-listed bulker stocks on expectations of "meaningful upside" ahead.

Drillship drop

Andy Pierce — Fri, 19 Feb 2010 14:19:51 GMT

Analyst cuts 2011 earnings outlook for DryShips due to softening of drillship market.

Nothing fishy

Eoin O'Cinneide — Fri, 19 Feb 2010 13:24:47 GMT

Norwegian authorities let a Russian fish carrier off the hook after master interrogated.

Humpuss thaw

Jim Mulrenan — Fri, 19 Feb 2010 13:21:09 GMT

Setback for Spyros Polemis as freezing order against Humpass for charter hire defaults is cut by $15m.

Stack shrinks

Andy Pierce — Fri, 19 Feb 2010 13:12:19 GMT

Seacor’s Gulf of Mexico lay-up list was cut in the fourth quarter as it handed back chartered tonnage.

Seacor ahead

Andy Pierce — Fri, 19 Feb 2010 12:02:07 GMT

New York-listed shipowner’s fourth quarter profit takes a dive but its numbers are ahead of analysts’ forecasts.

Filipino rescued

Eoin O'Cinneide — Fri, 19 Feb 2010 11:18:07 GMT

Crewman found “disoriented” in cabin after suspected stroke rescued from Cido ship off Alaska.

Divi dashed

Andy Pierce — Fri, 19 Feb 2010 11:02:41 GMT

Stolt-Nielsen opts against full-year dividend pending evidence of a sustained market recovery.

Bonheur buoyant

Eoin O'Cinneide — Fri, 19 Feb 2010 09:53:12 GMT

Fred Olsen tanker, offshore and cruise owner posts higher profit despite slumping suezmax value.

Asta hijacked

Dale Wainwright — Fri, 19 Feb 2010 04:43:01 GMT

Tug missing off Malaysian coast now said to be victim of pirates. Chief engineer taken hostage.

More sales ahead

Eric Martin — Thu, 18 Feb 2010 22:27:25 GMT

Compofelice says Trico Marine planning more sales of non-core vessels as it works to boost liquidity. Shares plummet after loss.

Algoma rises

Eric Martin — Thu, 18 Feb 2010 20:50:02 GMT

Canadian owner sees 37.6% rise in profits on improved products tankers results and lower taxes.

Charter stretched

Eric Martin — Thu, 18 Feb 2010 20:17:48 GMT

Houston offshore outfit Oceaneering International extends charter of Island Offshore subsea service vessel for another year.

Legal blow

Eric Martin — Thu, 18 Feb 2010 17:42:33 GMT

Pride International's expectation of a $56.2m settlement of a corruption case pushes rig and drillship owner into $23m loss.

Belships better

Andy Pierce — Thu, 18 Feb 2010 16:20:49 GMT

Sverre Tidemand-led bulker owner returns to the black in the fourth quarter as it pockets $1m tax payback.

Claim quashed

Jim Mulrenan — Thu, 18 Feb 2010 16:13:56 GMT

Pirate detention of MISC chemical carrier for 41 days did not amount to the total loss of bio-diesel cargo.

More deferrals

Eric Martin — Thu, 18 Feb 2010 15:43:29 GMT

Oceaneering International CEO says offshore fleet should continue to see deferrals on offshore projects.

Lion leaves pride

Andy Pierce — Thu, 18 Feb 2010 15:19:34 GMT

Gregory Callimanopulos-led Toisa sells ageing PSV to Asian buyer, brokers say.

No fear

Andy Pierce — Thu, 18 Feb 2010 14:17:30 GMT

Offshore owners with vessels en route to Falkland Islands are un-plussed about growing hostility surrounding Ocean Guarding drilling campaign.

Full disclosure?

Gary Dixon — Thu, 18 Feb 2010 14:15:39 GMT

Shipping trial focuses on what evidence Russian investigator handed over to Sovcomflot lawyer on Dmitry Skarga’s property dealings.

Seized ship moves

Eoin O'Cinneide — Thu, 18 Feb 2010 13:12:14 GMT

Pirates onboard hijacked Zodiac car carrier Asian Glory get another bout of wanderlust as it moves again.

Otto fixes

Andy Pierce — Thu, 18 Feb 2010 12:56:08 GMT

Singapore-listed offshore player lands $35m charter for accommodation barge.

Greek ship rescue

Eoin O'Cinneide — Thu, 18 Feb 2010 12:38:41 GMT

Filipino crewman undergoes surgery in Oman after rescue by Royal Navy from tanker in Gulf of Aden.

Ports to be kept

Dale Wainwright — Thu, 18 Feb 2010 11:07:17 GMT

Debt-ridden Dubai World expected to hold onto its crown jewel terminals business.

Convention hit

Dale Wainwright — Thu, 18 Feb 2010 10:57:41 GMT

Secretary of Pakistan Shipbreakers’ Association says Hong Kong convention threatens jobs.

Eitzen still red

Eoin O'Cinneide — Thu, 18 Feb 2010 10:20:06 GMT

Losses cut at Terje Askvig-led Eitzen Chemical but weak chemical and clean petroleum markets lead to deficit.

Trico tumbles

Andy Pierce — Thu, 18 Feb 2010 10:17:07 GMT

Newbuilding cancellations hammer Nasdaq-listed owner in the fourth quarter despite healthy income from ship sales.

China to benefit

Dale Wainwright — Thu, 18 Feb 2010 09:35:12 GMT

Head of AP Moller-Maersk’s global recycling says Asian giant set to benefit from convention.

Loss shrinks

Eoin O'Cinneide — Thu, 18 Feb 2010 09:10:54 GMT

Norway’s Hurtigruten manages to slash its losses through cost cuts but finance expenses still hurt.

Second success

Jonathan Boonzaier — Thu, 18 Feb 2010 08:39:53 GMT

Two former co-defendants of Igal Dafni win defamation case against Zim to follow last month’s victory in ‘Judas’ trial.

KOTC tanker plan

Dale Wainwright — Thu, 18 Feb 2010 02:42:44 GMT

Kuwait shipowner looking to order aframaxes in Korea, as single-hulled VLCCs go on the block.

SMM repair haul

Dale Wainwright — Thu, 18 Feb 2010 01:00:38 GMT

SembCorp Marine wins repair deals worth over $90m and renews long-term Eitzen contract.

ITC preps sale

Eric Martin — Wed, 17 Feb 2010 22:30:28 GMT

After failing to secure a new charter for the single-huller Front Voyager, a Frontline arm is asking bondholders to allow a sale.

SCIC worker dies

Eric Martin — Wed, 17 Feb 2010 21:58:42 GMT

Ramp at Seaspan Coastal Intermodal terminal collapses as employee prepares for arriving vessel.

Firm likes MLPs

Eric Martin — Wed, 17 Feb 2010 21:33:30 GMT

Institutional investor Neuberger Berman reveals larger shareholdings in Teekay and Navios partnerships.

Acergy dips

Eric Martin — Wed, 17 Feb 2010 20:44:44 GMT

Strong vessel utilisation helps push US- and Oslo-listed engineering outfit into higher gross profit but isn't enough to lift the bottom line.

Embley probed

Eric Martin — Wed, 17 Feb 2010 19:29:09 GMT

Australian investigators launch probe into fire on bulker River Embley, an incident featured in this week's "Casualty file".

DOF seismic sale

Eoin O'Cinneide — Wed, 17 Feb 2010 16:31:26 GMT

Oslo-listed owner sells Geo Challenger to charterer CGG Veritas but no price mentioned.

Two for DryShips

Eric Martin — Wed, 17 Feb 2010 15:21:58 GMT

George Economou's Nasdaq-listed company orders two panamaxes at a Chinese yard and confirms sale of two 1990s-built bulkers.

'Invaluable asset'

Andy Pierce — Wed, 17 Feb 2010 14:59:19 GMT

Yuri Nikitin opened a door for Clarksons at Sovcomflot, court hears, but he was not the first Russian middleman to make a name for himself.

Pirates open fire

Eoin O'Cinneide — Wed, 17 Feb 2010 11:57:54 GMT

Naval vessel attacked by hijackers onboard Zodiac tanker and North Korea-flagged ship.

Falklands fracas

Eoin O'Cinneide — Wed, 17 Feb 2010 10:56:20 GMT

Argentina compels all ships calling at home ports to secure permission before entering UK waters.

FOE contract cut

Eoin O'Cinneide — Wed, 17 Feb 2010 09:12:59 GMT

BP charter renegotiation shaves $94m off contract value for Fred Olsen Energy which posts improved profit.

Maersk moves

Eoin O'Cinneide — Wed, 17 Feb 2010 08:41:47 GMT

Danish shipping stalwart Maersk McKinney Moller cedes chairmanship of Maersk Broker to daughter Ane.

Auckland jumps

Dale Wainwright — Wed, 17 Feb 2010 06:48:10 GMT

Kiwi port sees interim profits increase by nearly 50% on lower finance and operating costs.

Galaxy picks PB

Dale Wainwright — Wed, 17 Feb 2010 05:35:27 GMT

Hong Kong handysize owner Pacific Basin seals five-year deal from Aussie minor to ship lithium raw material.

Crowley inks tugs

Dale Wainwright — Wed, 17 Feb 2010 03:22:34 GMT

US shipowner orders pair of ocean going vessels at Bollinger Shipyards for delivery in 2011/2012.

Lamprell lifted

Dale Wainwright — Wed, 17 Feb 2010 02:49:17 GMT

Twin turbine installation ship order prompts upgrade for Middle East offshore yard group by Citi.

FreeSeas fixes six

Dale Wainwright — Wed, 17 Feb 2010 01:10:32 GMT

Ion Varouxakis-led dry bulk owner agrees spot charters for the bulk of its handysize fleet.

FMR shows slices

Eric Martin — Tue, 16 Feb 2010 22:47:16 GMT

Fidelity Investments' arm reports larger stake in Hornbeck Offshore but cuts holdings in Navios, Royal Caribbean, OSG and Genco.

Driller buys stock

Eric Martin — Tue, 16 Feb 2010 18:30:15 GMT

Transocean directors give the green light to $3.2bn share buy back and to issue $1bn in dividends. Swiss listing prepared.

Elcano scraps

Eric Martin — Tue, 16 Feb 2010 18:00:04 GMT

Spanish owner said to have sent Brazilian-flagged bulker to Indian breakers for $348 per ldt.

Ship hits reef

Eric Martin — Tue, 16 Feb 2010 17:00:42 GMT

Cosco Xiamen multipurpose ship Yong An Cheng reportedly suffers damage in incident at Trinidad's Port of Spain.

Still tricky

Andy Pierce — Tue, 16 Feb 2010 16:48:40 GMT

Age Remoy’s Rem predicts a challenging 2010 for offshore owners after turning in reduced fourth quarter profit.

Rate view slips

Eric Martin — Tue, 16 Feb 2010 15:57:47 GMT

After weak Seadrill fixture, Dahlman Rose expects ultra-deepwater drillship rates to fall to $400,000 per day.

Diana in box liftoff

Eoin O'Cinneide — Tue, 16 Feb 2010 14:35:31 GMT

Simeon Palios-led Greek bulker owner gets 38% stake in containership venture valued at $132m.

Tanker trouble

Eoin O'Cinneide — Tue, 16 Feb 2010 11:39:09 GMT

Drooping VLCC values lead to impairment charge at Prosafe Production but losses cut significantly.

Two hurt off Oz

Andy Pierce — Tue, 16 Feb 2010 10:14:43 GMT

Pair injured while fighting an engine fire on board a panamax bulker are flown to hospital.

Back in black

Dale Wainwright — Tue, 16 Feb 2010 09:05:45 GMT

Fred Olsen Production returns to profit in the fourth quarter after impairment charge blighted 2008.

MOL sells two

Eoin O'Cinneide — Tue, 16 Feb 2010 08:44:12 GMT

Philippines’ Aboitiz pays $15m for Japanese ro-paxes Sun Flower Kogane and Sun Flower Nishiki.

Mokster in at STX

Dale Wainwright — Tue, 16 Feb 2010 07:24:49 GMT

Norwegian shipowner Simon Mokster Rederi orders rescue-capable PSV at STX Europe.

Portek profits up

Dale Wainwright — Tue, 16 Feb 2010 03:27:30 GMT

Terminal operator and equipment supplier reports an 80% year-on-year increase in profits.

Technip Spain gig

Dale Wainwright — Tue, 16 Feb 2010 02:37:19 GMT

French offshore player wins deal for field development work on Repsol’s Casablanca platform.

Indonesia bound

Dale Wainwright — Tue, 16 Feb 2010 01:30:19 GMT

Singapore’s CH Offshore has become the latest shipowner to target Indonesia’s cabotage trade.

Mission impossible

Jim Mulrenan — Mon, 15 Feb 2010 18:26:36 GMT

Sovcomflot faced huge problems in borrowing to replace Megaslot loans and for working capital court told.

Su chops suezmax

Andy Pierce — Mon, 15 Feb 2010 16:32:55 GMT

Nobu Su’s TMT gets $8m pay day following disposal of single-skin tanker.

Two broken arms

Eoin O'Cinneide — Mon, 15 Feb 2010 15:08:29 GMT

USCG rescues Filipino crewman after 16-foot tumble into cargo hold of Japanese ship off Alaska.

Finance spat

Jim Mulrenan — Mon, 15 Feb 2010 14:36:02 GMT

Could Sovcomflot have raised funds from banks cheaper than through sale and leaseback deals with Yuri Nikitin?

Euronav sells

Andy Pierce — Mon, 15 Feb 2010 12:07:15 GMT

Euronext-listed tanker owner strikes near $60m deal to offload VLCC.

Third VL cut up

Andy Pierce — Mon, 15 Feb 2010 10:18:55 GMT

Nissho Shipping tanker is sold in $12m demo deal, taking 2009 VLCC scrapping tally to three.

Songa just shy

Andy Pierce — Mon, 15 Feb 2010 09:40:17 GMT

Oslo-listed offshore player sees pre-tax profit fall just short of forecasts.

Blaze in Canada

Eoin O'Cinneide — Mon, 15 Feb 2010 08:49:59 GMT

Welder suffers second degree burns in fire on asphalt carrier Thalassa Desgagnes in Montreal.

Mermaid tanks

Dale Wainwright — Mon, 15 Feb 2010 08:07:50 GMT

Profits slide 60% at Thoresen offshore arm as utilisation rates decline in both drilling and subsea.

Eitzen Bulk lower

Dale Wainwright — Mon, 15 Feb 2010 07:00:21 GMT

Camillo Eitzen’s Copenhagen-listed bulker spin-off ends 2009 significantly down on a year ago.

Strong start

Dale Wainwright — Mon, 15 Feb 2010 05:59:36 GMT

Singapore’s container terminals have seen their highest monthly throughput in over a year.

TTA turns red

Dale Wainwright — Mon, 15 Feb 2010 03:43:10 GMT

Thai shipowner Thoresen Thai Agencies off to a bad start with first quarter loss due to lower rates.

Crane clearance

Dale Wainwright — Mon, 15 Feb 2010 01:17:13 GMT

US salvage outfit Titan is working to restore Haiti’s Port-au-Prince to increase cargo throughput.

'BALT' zeroing in

Eric Martin — Fri, 12 Feb 2010 17:58:27 GMT

Baltic Trading document shows the Genco spin-off is inspecting bulkers and confirms nix of "BDI" ticker symbol.

Four team up

Eric Martin — Fri, 12 Feb 2010 17:16:09 GMT

CCNI, Hanjin Shipping, Hapag-Lloyd, Wan Hai Lines and Zim create 11-vessel weekly service between Asia, South America and Africa.