TradeWinds | Latest shipping and maritime news

Baltic Dry Index hits 11-month high as capesize bulkers continue to soar Jefferies lowers container ship charter rate outlook as ‘hard part begins’ for operators Growing leasing giant Maritime Partners closes $600m financing with new and existing lenders Diana Shipping dives into methanol-fuelled bulkers with $46m order for two kamsarmaxes Jinhui strikes to buy UAE ultramax after selling veteran supramax Auctioned Morfini tanker attracts wide interest, despite legal row Green Seas: Advertising complaints fuel debate over cruise’s LNG sustainability claims A ‘royal’ appointment: Sir Timothy Laurence becomes patron of IMRF Vroon completes $1bn restructuring as it sells 30 offshore ships to Britoil Neu Seeschiffahrt seals Wisdom newcastlemax buys and is hungry for more

Spot market

Baltic Dry Index hits 11-month high as capesize bulkers continue to soar

Jefferies lowers container ship charter rate outlook as ‘hard part begins’ for operators

Stolt-Nielsen profit tipped to rebound in fourth quarter as chemical tanker rates rise

Diana Shipping dives into methanol-fuelled bulkers with $46m order for two kamsarmaxes

Seacor Holdings sells off US tug fleet to domestic rivals

Growing leasing giant Maritime Partners closes $600m financing with new and existing lenders

Auctioned Morfini tanker attracts wide interest, despite legal row

Green Seas: Advertising complaints fuel debate over cruise’s LNG sustainability claims

What next for S&P shipbroking supremo Sebastian Davenport-Thomas?

Secondhand S&P market primed for Japanese sale-leaseback revival

Alexander Varvarenko’s Shipnext secures ‘substantial’ Belgian grant for AI project

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LNG

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QatarEnergy closes in on first batch of its phase 2 LNG newbuilding project

Gail (India) heralds first LNG cargo STS in move to optimise its shipping

Nicolas Saverys’s second Exmar take-private bid fails as shareholders cling on to stock

New Fortress’ second jack-up rig-to-FLNG unit conversion moves off to Mexico

France’s first FSRU inbound as Le Havre set to take in LNG after 24-year gap

Dynagas LNG Partners is sold out on its ships until 2028

Genting Oil & Gas signs up with Wison for FLNG unit in Indonesia

Golar’s second FLNG unit set to leave Singapore early next month

latest

Private equity giant CVC takes over LNG carrier investor DIF

Big name shipowners dive into MAMII methane abatement group

Australian strikes could result in loss of up to eight LNG cargoes a week, SSY says

Awilco LNG fixed-rate charters pay off as two-vessel shipowner turns a profit

Hoegh LNG homing in on ammonia, hydrogen and CCS initiatives

MISC bullish on prospects for LNG carrier and tanker markets

LNG shipping markets spooked as Australian strike threats loom

Wah Kwong, CSSC (Hong Kong) and China Gas seal LNG ships deal

Seapeak sees charterer snap up first extension option on LNG carrier

MOL places another LNG carrier under V.Ships’ technical management

Analysis: What price LNG shipping this winter?

First laden Arc4 LNG carrier heads eastbound on Northern Sea Route

Slideshow

Major bulker, tanker and gas carrier owners discuss geopolitics, decarbonisation and inflation at TradeWinds Shipowners Forum

Maritime Partners acquires AP Moller-Maersk’s US-flag tanker arm

Jinhui strikes to buy UAE ultramax after selling veteran supramax

Tributes paid to ex-Teekay chairman Sean Day, ‘the smartest guy in the room’

Vroon completes $1bn restructuring as it sells 30 offshore ships to Britoil

Neu Seeschiffahrt seals Wisdom newcastlemax buys and is hungry for more

UN report outlines soaring costs of decarbonising shipping

A ‘royal’ appointment: Sir Timothy Laurence becomes patron of IMRF

Insurance

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Former Wallem managing director Peter Cowling dies

Marsh-led Ukraine insurance package on the way as shipping activity picks up

Insurer Skuld doubles its profits as underwriting and investments improve

IUMI 23

Insurers still working on state-backed deal for Ukraine grain

IUMI 2023

Stephen Catlin’s Convex view of marine insurance pays off

IUMI2023

Insurance underwriters gather as marine market hangs in the balance

LISW23

Insurers lament as ‘smart’ sanctions fracture world trade

Ukraine, Russia pour cold water on UN efforts to revive grain deal

LISW23

Tsakos Shipping’s Andreas Bisbas claims Lloyd’s of London insurance is ‘no longer sacrosanct’

Swedish Club looks to London as it eyes growth

Aon warns shipowners over ‘thermonuclear’ personal injury awards

Gard reports profits in P&I ahead of renewal rate decision

London underwriters’ backing for risky Red Sea lightering mission pays off

War risk rates creep up as Black Sea tensions flare

Broker Marsh in bid to arrange insurance for new Ukraine grain deal

Profits rise at the Swedish Club as underwrting improves

Fire on KMTC boxship brought under control off Malaysia

Fremantle Highway blaze throws electric vehicle risk into sharp relief, say insurers

Norwegian insurer Hydor acquires EF Marine as it targets growth

Marine insurers feel the heat from Fremantle Highway blaze

QatarEnergy inks 17 slots at HHI as it fires gun on Phase 2 of huge LNG newbuilding project

Russia’s new shadow shipping dynasty sets up shop in Dubai

Shots fired as bulker fails to stop during drugs raid off Ireland

‘Shipping is back on the map’ for banks and other lenders

WinGD zeros in on first commercial ammonia engine delivery

Broker Miller offers war risk insurance for Ukraine grain shipments

Business Focus

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lisw23

London shipping: Are the Baltic Exchange and FFA market experiencing the ‘seven-year itch’?

lisw23

‘What’s London got to do with it?’: Shipbroking confronts a new world order

Only the strongest survive in London’s ‘overcrowded’ legal market

London law firm Stann makes waves after setting free the Ever Given

Russia’s dry cargo trade is booming in the war-torn Black Sea

Editor’s selection: Black Sea backlog, Maersk Broker deal off? and Laskaridis turns to tankers

LNG carrier S&P action: Natural peak or emerging market?

Exmar set to grow back its LNG business as it seeks to go private

NSML switches to upskilling seafarers after ‘Nigerianisation’

Shipowner-operator Seapeak says time-charter length shift is ‘positive’

Will shipping be able to trade its way to a low-carbon future in Europe?

European Union ETS: Just the start as shipping gears up for global fuel rules

Going long: Alternative fuels for shipping will require a sea change in the bunker-buying mindset

On target: Japan vies for pole position in race to build zero-emission ships

Meet the Crabster: In-water robots meet the biofouling challenge

Bunkering in Europe: The much-delayed bunker tax presents global implications

Sail power: Who’s got you covered when wind patterns fail?

Opportunities and risks in shipping’s new carbon market

Question time: Ship managers have their say over the great training debate

Shipowners and operators will need to step in to fulfil their own training needs

Castor seeks compensation after buyer fails to take delivery of bulker

Golden Energy Offshore offloads subsea support unit acquired in Vroon deal

Wingsail maker AYRO raises €19.2m funding and names new CEO

Grimaldi urges talks, not trade wars, and warns against ‘American dreams’

MSC brought in to revive Spain’s state rail freight company

Spot market

Capesize rates leap 11% in a day to new four-month high amid China’s hunger for iron ore and coal

Insight & Opinion

Editor’s selection: Braemar probe widens, Fearnleys seals Ocean deal and what is making Andreas Sohmen-Pao nervous?

Can the first commercial hydrogen carriers meet 2030 project target?

Wavelength: Will Russia spoil the product tanker party?

Carbon capture and storage goes global but only when the price is right

Suez Rajan cases raise questions over Iran’s crude dealings and US sanctions

Wavelength

Shipping must seize the day of Salman, Biden and Modi’s ‘big deal’ at G20

Comment: What price will shipping pay for its wonky moral compass?

Scorpio’s Robert Bugbee ‘hasn’t even started to think about starting to think about’ new tanker orders

Marine insurance claims return to pre-pandemic levels as inflation bites

LISW23

Talent pool and connection to global shipping hub fuels UK tech

We’re not buying, say tanker owners as newbuild prices soar

Donso shipping meet is neither London nor Oslo. It has a magnetic charm of its own

Viewpoint: There is no more time to waste in ‘decarbonisation’s decisive decade’, says DNV Maritime

Wavelength: How can seafarers be protected from sexual violence where impunity reigns?

Container peak season may have already ‘peaked’ as freight rates ease

‘Thin supply cushion’ to fuel product tanker rate hike, Clarksons says

MR tankers to capitalise as Californian crude demand set to fall, Gibsons says

Stena’s Hanell says Strait of Hormuz tensions back to 2019 levels

Wavelength: The great divide? How Brics are building a new world for shipping

Editor’s selection: Frontline’s ‘blowout’ results, Skov’s tanker warning and Synergy’s Unni bows out

Monjasa welcomes more trainees as it expands programme to Athens and Shanghai

Resurgent offshore vessel markets approaching 10-year peak, Clarksons says

Financiers must share the risk on shipping’s green transition, says MISC boss

Evalend Shipping pockets around $60m from sale of VLGC newbuilding pair

Tankers may be heading for ‘never-ending’ winter market next year, Hannisdahl says

Insurer Shoreline launches policy to protect crew under US Marpol detention

ESG

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Green Seas: Advertising complaints fuel debate over cruise’s LNG sustainability claims

UN report outlines soaring costs of decarbonising shipping

WinGD zeros in on first commercial ammonia engine delivery

‘They’re going to need wind’: Wingsail maker Ayro raises €19.2m funding and names new CEO

Italian shipbuilder Fincantieri bags $847m sustainability loan

Japan’s ‘big three’ shipping companies team up to supply liquid hydrogen

Financiers must share the risk on shipping’s green transition, says MISC boss Rajalingam Subramaniam

Ammonia to lead shipping’s charge to net zero by 2050, says IEA

Ship size is going to matter due to ammonia’s limitations, vessel designers say

Podcast: Looking ahead in the dawn of methanol-fuelled container shipping

‘Huge concerns’: Seaspan fronts up over ammonia container ship plans

Delivery of MSC Group’s hydrogen fuel cell cruise newbuilds slides by another year

Iran threat leaves shipowners caught ‘between a rock and a hard place’ on US sanctions rules

Data sharing initiative helps OSV owners slash 10,000 tonnes of C02 emissions

Inaction not an option: Columbia launches mentor scheme for female cadets

‘Are you calling for your boyfriend?’ Shipping still has a female recruitment problem

Green Seas: The era of methanol-fuelled container shipping begins

Seaspan and Maersk Zero Carbon Center unveil huge ammonia container ship project

Bureau Veritas invests in OrbitMI as strategic partnership targets shipping’s carbon emissions

Singapore-Rotterdam green corridor aims for 30% GHG emission cuts by 2030

‘A tax on maritime trade’: Shipowners attack upcoming EU ETS rules

Fuel choice is like a Covid jab: difficult to know which one works best, says TEN’s Tsakos

Viewpoint

Are maritime headlines inducing colour blindness over methanol?

Director pay and dividends down as Tufton Investment Management profit shrinks

Russia starts shipping LPG from Crimea after eight-year gap

Sweden’s Stena seeking bond sale to pay off 2025 maturity

Boxships

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Container ships set for recycling in India as pricing levels top the $600 per ldt mark

Seaspan and Maersk Zero Carbon Center unveil huge ammonia container ship project

Seaspan tackles ‘huge concerns’ over ammonia container ship plans

South Korean feeder owner CK Line places rare container ship order

What do Bob Dylan, Ursula von der Leyen, Maersk and methanol have in common?

AP Moller Holding and Maersk team up to launch green methanol production company

MSC muscles in on Beijing’s Hamburg port bid with friendly takeover offer

Freight buyers alliance with Amazon, Ikea and more asks container lines to bid on green shipping tender

London law firm Stann makes waves after setting free the Ever Given

Hamburg Commercial Bank named as lender behind MPCC’s Lomar fleet deal

Israel’s Zim and container giant MSC cement co-operational deal on several trades

German container ship catches fire following collision with another vessel in Greece

‘Significant step’: Amazon renews deal with Maersk to move 20,000 containers on green fuel voyages

Hamburg Sud boss Poul Hestbaek follows Philip Oetker out of the door

OOIL retains firepower for further big dividend payouts, say analysts

Seaspan buys and sells two ships as profit dips following US delisting

Ernst Russ raises profit forecast as container ships ‘stabilise’

Will the Panama Canal give shipping a ‘black swan’ for Christmas?

MPCC eyes more ship buys as profit rises despite weaker markets

Zim misses estimates as it posts heavy loss in weak container market

Russian fuel export ban leaves tanker market in limbo

Ship Management

Seafarers win 6% pay rise as employers and unions strike deal

Consumer crackdown to market-based measures? Wikborg Rein attorney mulls next generation of shipping rules

Columbia launches rehabilitation centre project for Ukraine seafarers

Oslo splashes cash on ammonia-powered bulkers with Viridis, bunkering with Yara

Ammonia to lead shipping’s charge to net zero by 2050, says IEA

People

Shipping man Stefanos Kasselakis wins party vote to become Greek opposition leader

Luksic family’s shipping gamble pays off as fortune swells to $25bn

Former Wallem managing director Peter Cowling dies

Slideshow

In pictures: ‘When the wind dies’ at Peter Gast Schiffahrtsregatta 2023 it brings on ‘racing drama’

More executives exit Flexport as logistics start-up looks to return to growth

Shipping industry targets $3m goal for Africa charity in 2023

‘Troubling’: Crowley wind executive exits company after sexual harassment complaint

Hydrogen start-up H2Carrier expands top team with former Lauritzen and NYK man

In pictures

Meet the ‘Banksy of shipping’. The anonymous artist committing dry bulk markets to canvas

Slideshow

In pictures: Rain delays play as liner execs tee off for 18 holes with Singapore’s Bengal Tiger Line

Meyer Group appoints new CEO in landmark management shake-up

SSY broking legend Taro Harada retires after three decades in shipping

Eastern Pacific Shipping grabs first place in pro relay race

SSY hires Jarl Magnus Berge as global head of finance

Core Power ramps up team as nuclear transport expert Scott Edwards signs on

Clarksons refocuses chemical tanker desk with Anthony Rowan as head of projects

Clarksons creates new dry cargo broking leadership team across three desks

Former SSY tanker broker Steve Ballard triumphs in charity golf tournament

Vale now boasts all-female Singapore chartering team as Michael Gardiner quits mining giant

Ulrik Kriete steps down from ASSC after passing of founder Bertram Rickmers

Grindrod buys private Taylor Maritime Group ship management operations

UPDATE

Investors exposed by red-hot VLGC rates, but market well-supported, says Gersemi boss

Torm and Norden tankers call in Mexico three years after Vitol bribery ban

Hanwha wins arbitration case against Fredriksen over cancelled drillships

Let’s start actually measuring harmful ship emissions and collecting accurate and concrete data

Costamare and Diana forge term deals as midsize bulker period assessments rise

Interview

Turning point coming for bulkers as 2024 looking ‘half-decent’, TMI’s Ed Buttery says

Inaction not an option: Columbia launches mentor scheme for female cadets

Ship size is going to matter due to ammonia’s limitations, designers say

‘I always want more ships,’ says TMI’s new operations chief Carl Ackerley

IUMI2023

Insurance underwriters gather as marine market hangs in the balance

IUMI 2023

Stephen Catlin’s Convex view of marine insurance pays off

Interview

Pertamina International awakens to take on the tanker world

Pacific Carriers bullish on product tankers as it turns 50

No regrets as Rajesh Unni takes ‘easy’ decision on succession planning at Synergy

ONE’s Nixon expects continued growth in container sector despite $5bn profit drop

Where contacts trump CVs, Nitzeira Watson uses ‘sacrifice and effort’ to get ahead

‘Simply good business’: Veteran Anthony Whitworth dishes on Diana deal and a lifetime in shipping

Marubeni gives MaruKlav pool a ‘fresh pair of eyes’, says Klaveness’ bulker boss Michael Jorgensen

UCL’s Tristan Smith: Carbon resolution ‘a massive change’ but leaves more tests ahead for IMO

Shell parks ammonia as a marine fuel until toxicity issues are resolved

‘Shipping needs the political will’ to secure carbon consensus, says Ardmore’s Anthony Gurnee

Lila Global’s Steve Kunzer talks strategy to reach 70-plus ships

WinGD names new chief executive as speed of fuelling transition hots up

Tristar Eships targets growth without the ‘shocking’ value destruction

MM Warburg’s $150m shipping credit fund ready for take-off

Genco Shipping bulk carrier hits anchored Zeaborn handysize in Black Sea

Italian shipbuilder Fincantieri bags $847m sustainability loan

Japan’s ‘big three’ shipping companies team up to supply liquid hydrogen

Alex Vullo to lead Gallagher’s P&I team after Malcolm Godfrey departs

Kjell Inge Rokke’s Akastor taps EnTrust Global to refinance and reactivate offshore ships

Analysts say it is time to snap up International Seaways stock

Offshore

No shortage of offshore bravado at Pareto Securities show

Tonnage-hungry Subsea 7 could set its sights on Solstad Offshore, analyst says

Navigation organisation IFAN raises funds by selling only ship

Data sharing initiative helps OSV owners slash 10,000 tonnes of C02 emissions

Saudi-backed driller ADES set to price $1.2bn IPO at the top of the range

Solstad Offshore trio get new deals as CSV market keeps running hot

Siem Offshore earnings improve, but rate strength behind schedule

First US-built offshore wind installation vessel Charybdis delayed amid spiralling costs

Reborn DOF starts with record profit in stronger offshore markets

SFL Corp fixes drilling rig for lucrative contract and books second-quarter profit

Growing OSV demand helps to drive up profit at Marco Polo Marine

Rising costs eat into Kim Heng’s profits during first half of financial year

Eneti sells three NG 2500 units for $70m as focus turns fully to WTIVs

Tidewater continues rates improvement in profitable quarter that misses analyst bets

Asia-Pacific wind farm pipeline threatened by dearth of vessels

Cosco and Guangzhou Salvage forge heavylift giant

Siem Offshore inks charters for two AHTS for work in Australia

Nexans to build ‘most technologically advanced cable layer ever’ to target US and Europe

Clarksons spies signs of interest in offshore ship orders after lost decade

Fred Olsen’s Bonheur close to selling out wind vessel capacity to 2026

KCC opts for air lubrication as part of ‘wave’ of energy-saving retrofits

VLCC rates start to pick up after ‘disastrous’ September, say analysts

Crude tanker seasonality is real, Clarksons’ Frode Morkedal reminds investors

Shipping man Kasselakis wins party vote to become Greek opposition leader

Odesa’s port left ‘unusable’ after latest Russian missile attack, says Ukraine

Nova Algoma cement carrier spends second day aground after halting St Lawrence traffic

Jobs

Dry Bulk Operator (M/F), Luxembourg

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