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VLCC Market Remains Strong in Q1: Hunter
The very large crude carriers (VLCC) market market was relatively strong in Q1, with VLCC earnings averaging USD 29,000/day an increase of close to USD 20,000/day versus Q1’18…
First ANS Cargo in One Year on Way to China
One million barrels of Alaskan crude is due in China next week, the first such shipment in almost a year, according to data from Refinitiv Eikon and vessel-tracking firm Kpler.China's imports of U.S.
ESG Delivers USCG Sub-M Towboat
Eastern Shipbuilding Group has delivered the M/V Brian Boudreaux (Hull 198). It is also the first new construction USCG Sub-M towboat for Florida Marine Transporters, LLC of Mandeville, LA.It was in early 2018, when Florida Marine Transporters, LLC signed four more additional towboats, bringing the total to seventy (70) vessels contracted over the last 14 years. The M/V Brian Boudreaux was constructed at Eastern’s Allanton Facility from a design furnished by Gilbert Associates, Inc.
MISC Group Q1 Financial Results
MISC has announced its financial results for the financial period ended March 31, 2019.Financial Highlights:Group revenue for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group profit before tax for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group Revenue, Operating Profit and Profit Before Tax for the Quarter Ended March 31…
Dry Bulk Fleet Utilization Falls 3.7% in Q1
Global dry bulk fleet utilization (calculated as total demand in tonne miles transported divided by total available fleet capacity) dropped by 3.7% in the first quarter of 2019…
VLGC Freight Rates Recover
The Very Large Gas Carrier (VLGC) freight rates started to recover towards the end of the first quarter as U.S. consumption reverted to seasonally lower levels pushing U.S.
Tanker Rates Firming Up: Frontline
The middle of the first quarter in 2019 saw tanker rates firming significantly, driven mainly by an increase in US exports, said Frontline Ltd. is the world's largest…
Wilson Sons Vessel Converted in Brazil
A platform supply vessel (PSV) owned and operated by Wilson Sons UltraTug Offshore has been converted to a shallow dive support vessel (SDSV) for a Petrobras job offshore Brazil.The vessel, Fulmar, needed an upgrade from DP1 to DP2 Class notation, and the work was completed in April by Wilson Sons Estaleiros in partnership with Damen at the Wilson Sons shipyards in Guarujá.Damen said it carried out…
Wrist Expands Despite Tough 2018
Despite difficult markets Wrist Ship Supply was able to grow its business during 2018 and to consolidate its position as the world’s largest supplier of provisions…
Chemical Tanker Market Improves: Odfjell
The chemical tanker market saw continued improvements into what normally is a seasonally weaker first quarter, said Odfjell Group, a company specialising in worldwide…
Global LNG Imports Up in Q1 by 11%
Despite the liquefied natural gas (LNG) demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter…
Kirby Posts 2019 Q1 Results
Kirby Corporation announced net earnings attributable to Kirby for the first quarter ended March 31, 2019 of $44.3 million, or $0.74 per share, compared with earnings of $32.5 million, or $0.54 per share, for the 2018 first quarter. Excluding certain one-time charges, 2018 first quarter net earnings attributable to Kirby were $37.9 million, or $0.63 per share. Consolidated revenues for the 2019 first…
BIMCO: "Continued Pressure" for Bulkers
Demolition of dry bulk ships in the first four months of 2019 was 120% higher than in the same period of 2018. Much of this increase comes from demolitions of Capesize ships, up from 1.1m DWT between January and April 2018 to reach 3.4m DWT in the first four months of 2019.Despite the increasing in scrapping, the bulk carrier market, particularly on the large ship side, will remain under pressure for a number of reasons…
Flex LNG Sells Vessels in $420mln Deal
John Fredriksen-affiliated Flex LNG announced that it has entered into a sale-charter-back transaction with Hyundai Glovis for the vessels Flex Endeavour and Flex…
Singapore Investigating Bunker Tampering
The Maritime and Port Authority of Singapore (MPA) is investigating bunker craft operator Southernpec (Singapore) Pte Ltd for equipment tampering during a bunkering operation, the agency said in an email on Monday.The MPA had previously suspended Southernpec's operator licence "with effect from 25 April 2019 until further notice," it said in a statement released on Saturday."MPA is investigating the bunker craft operator and supplier ...
Volatility Hits Tanker Market: Concordia
The tanker shipping market continued to be volatile during the first quarter of 2019, but at a higher level than in the corresponding quarter the previous year,…
Floods Stall Inland Fertilizer Barge Shipments
Farm supplier CHS Inc has dozens of loaded barges trapped on the flood-swollen Mississippi River near St. Louis - about 500 miles from the company's two Minnesota distribution hubs.The barges can't move - or get crucial nutrients to corn farmers for the spring planting season - because river locks on the main U.S. artery for grain and fertilizer have been shuttered for weeks. High water presents a hazard for boats…
MOL Adds VLCC 'Phoenix Jamnagar' to Fleet
Japanese logistics major Mitsui O.S.K. Lines (MOL) announced, the delivery of a Very Large Crude Carrier (VLCC), "Phoenix Jamnagar" on April 24, which was built…
6,000th Neopanamax Transit at Panama Canal
The Panama Canal welcomed its 6,000th Neopanamax vessel through the Expanded Canal, underscoring the route’s ability to accommodate the highly-dynamic liquefied natural gas (LNG) segment, which first transited the waterway following the inauguration of the Expanded Canal less than three years ago.The LNG vessel Energy Liberty completed the milestone transit today travelling southbound from the Atlantic to the Pacific Ocean.
GTT's Vessel Order Book Hit Record
French technology company Gaztransport & Technigaz (GTT) announced that with 14 orders for LNG carriers booked in the first quarter of 2019, its main business activity…
US Secures Aid Pier on Gaza Beach. Aid Delivery Encounters Challenges Ahead.
Desperate Crowds Halt UN Aid Deliveries in Gaza as Humanitarian Crisis Deepens
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Anschuetz USA: Supporting the U.S. Maritime Industry
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Navigating trade uncertainty: How ports adapt to shifting tariff policies
