December 5th, 20190American financial services giant INTL FCStone has detected a swathe of bulk carriers taking the slow path to Asia, suggesting the ships are likely waiting for some breakthrough in negotiations between the US and China in the ongoing trade war. Soybean loadings to China from the US Gulf are taking some interesting routes. Many ships...
November 28th, 20190US chemical and product tanker player MT Maritime Management has emerged as the taker of a couple of ageing 2004-built MR sales concluded at the end of the month. The growing outfit has added the 51,000 dwt tanker Chase and a sister ship, Lincoln, which has already been renamed, . The two ships were sold for just under $11m each by...
November 28th, 20190Many chemical tankers calling the US Gulf will need to make alternative plans after a huge fire ripped through a Texas petrochemical plant early Wednesday morning. Authorities have ordered residents within a 6.4 km radius of the TPC Group petrochemical plant in Port Neches to evacuate after a series of blasts ripped through the...
November 27th, 20190The US is only months away from full energy independence, a new study from Oslo-based Rystad Energy states. By 2030, total primary energy production will outpace primary energy demand by about 30%, according to Rystad’s latest forecast. “This milestone follows a strong period of growth in both hydrocarbon and renewable resources,...
November 27th, 20190Ports America, the largest marine terminal operator and stevedore in North America, has tapped a well known name in Hong Kong port circles as its next president. Peter Levesque will step down as CEO of Modern Terminals, Hong Kong’s oldest terminal operator, and return home to the US after 25 years in Asia, to take the Ports America...
November 21st, 20190New York-listed Diamond S Shipping has announced the launch of an underwritten secondary offering of 4,021,604 shares belonging to private equity firm First Reserve and 660,870 belonging to Wilbur Ross’s WL Ross & Co as the selling shareholders. The two firms expect to grant the underwriter, Pareto Securities, a 30-day option to...
November 20th, 20190The US west coast port of Portland is set to welcome a weekly container service for the first time in nearly five years. South Korea’s SM Line will launch a service in January connecting Portland to China and South Korea. The last time Portland had a regular liner call was back in 2015 with another Korean, Hanjin Shipping. Hanjin...
November 18th, 20190Houston-based subsea and data company Ocean Infinity has chartered in Solstad Offshore’s 2014-built CSV . The vessel has now been mobilised, and will be on charter for a period of three years growing Ocean Infinity’s fleet to three. The company says the charter will allow it to serve clients on a global basis across each of the...
November 15th, 20190The classification sector shows no signs of slowing its diversification drive as ship orders dry up. Britain’s Lloyd’s Register is now getting into the financial advisory business, teaming with part of New York-based Seabury Capital Group to build a platform to help shipowners and other shipping stakeholders better assess the...
November 15th, 20190Nasdaq-listed Gulf Island Fabrication has appointed Richard Heo as its new president and chief executive officer, replacing Kirk Meche who has served in the role since 2013. Heo moves from McDermott International and has previously worked for Chicago Bridge & Iron KBR. Jack Laborde, chairman of Gulf Island, commented:...
