TradeWinds | Latest shipping and maritime news

Russia was European Union’s top oil supplier in first half of 2022 Cruise pulls ahead as shipping trembles over recession fears New Fortress Energy joins with Apollo for $2bn shipowning joint venture Donetsk separatists move to confiscate vessels in Mariupol Zelenskyy rebukes Greek tankers for carrying Russian oil BRS downplays ‘sting in the tail’ for product tankers this summer Bureau Veritas partners Marlink to develop better secure remote services Another one gone as Concordia sells product tanker into Greece French group reveals plan for hydrogen refuelling barge fleet ‘Super-busy’ Heidmar continues comeback with addition of 26 tankers

Russia was European Union’s top oil supplier in first half of 2022

New Fortress Energy joins with Apollo for $2bn shipowning joint venture

Cruise pulls ahead as shipping trembles over recession fears

Time called on box shipping’s bull run, but not the party

Zelenskyy rebukes Greek tankers for carrying Russian oil

Donetsk separatists move to confiscate vessels in Mariupol

‘Super-busy’ Heidmar continues comeback with addition of 26 tankers

Ship Management

Ukraine crisis

Fresh hope that Ukrainian seafarers will be allowed to leave war-torn country

Buyer of BP Shipping product carrier octet finally revealed

BRS downplays ‘sting in the tail’ for product tankers this summer

Another one gone as Concordia sells product tanker into Greece

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Insight & Opinion

Clouds lifting: Clarksons forecasts tanker demand growth of up to 7% in 2023

Comment

Fresh determination emerges despite disappointment over shipping R&D fund

Six-figure MRs and five-year charters: Product tankers keep getting stronger

Europe’s new FSRUs could become stranded assets if LNG pressure mounts

Outlook

Crude tankers can’t falter for much longer, DHT’s Svein Moxnes Harfjeld says

Container shipping stocks routed as recession fears rise

Wavelength

One-offs or the tip of the iceberg, shipping must stop abuse at sea

Still a ‘grind’ for VLCCs as global oil flows continue shifting, Euronav says

Robert Uggla hits back at Biden in US box shipping broadside

Capesize freight derivatives bleed as macro data bites

For Angeliki Frangou’s Navios, newfound resiliency opens door to fresh opportunities

Secondhand VLCC sales surge in anticipation of stronger markets, says Affinity

Large bulkers find ‘floor’ as sentiment improves later in the week

Ince: Greek shipowners have plenty of finance options but the question is price

Product tankers continue high earnings as suezmaxes jump

Europe’s Russian coal ban sends bulk carriers racing for substitute cargoes

Viewpoint

Safety is critical to sustainability and commercial success

Doubts creep in over insurance ban on Russian oil transport

Spot market

Tankers rates move upward as suezmax earnings rebound 80% in a day

VLCC pain may lead to scrapping market rebound, GMS’s Sharma says

LNG

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Record LNG carrier newbuilding bonanza tops 100 ships in first half 2022

Dynagas says three LNG carriers now ‘under control of German government’

Two shipowners teed up to take QatarEnergy’s declared LNG carrier berths at HHI

Flex LNG converts three existing charters to long-term deals

QatarEnergy firms up more reserved LNG newbuilding slots at South Korean yards

Flex LNG looking at carbon capture as it pitches LNG carrier advantage

Chinese energy companies float tenders in hunt for up to 15 LNG carriers

Capital Gas swoops on LNG carrier newbuilding slots at red-hot prices

Dragnis-backed FSRU ‘Argo’ project unveiled in Greece

Freeport LNG warns of long wait for full operations after fire

JP Morgan reverses out of four planned Qatari LNG carrier newbuildings

Elusive LNG carrier newbuilding slots spur talk of sales candidates

Avenir LNG supplies its first bio-LNG bunkers in Germany

Avenir LNG snares bunkering supply deal with ferry owner Destination Gotland

QatarEnergy inks first LNG carrier orders with owners and yards in South Korea

Maran Gas Maritime adding pricey LNG carrier duo at DSME

Marinakis cites LNG push as driving factor behind Sovcomflot aframax buys

Fire shuts Freeport LNG’s Texas terminal for three weeks

CoolCo ‘lifts its sights’ to LNG shipping consolidation

LNG-fuelled order tally for 2022 tops 150 ship mark in record quarter

Wakashio report highlights navigation errors and lack of crew communication system

MPCC eyes more methanol projects after landmark newbuild order

Samudera Shipping buys chemical tanker from Idan Ofer’s Eastern Pacific

Tankers International starts app subscriptions as services upgraded

Ostensjo providing ships as Norway demolishes Arctic mining camp

Owner of LPG newbuildings at Hyundai Mipo emerges

Boxships

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CMA CGM to slash French freight rates after government pressure

Alot of boxes: Evergreen gets its hands on world’s biggest container ship

PIL selects Yangzijiang to build neo-panamax container ship quartet

Surging long-term rates add ‘instability’ to container shipping contracts

Lines split with ‘shielded’ shipowners over EU emissions trading scheme

Navios reveals strong charter rate over 12 years for LNG-fuelled container ships

Maersk set to double down on methanol-fuelled container ship orders

Container shipping stocks routed as recession fears rise

CMA CGM launches fresh raid on secondhand container ship markets

Global Ship Lease buys back remaining notes maturing in 2024

Maersk admits it has abuse ‘problem’ on ships as state probe begins

Ocean Yield buys methanol-ready container ship newbuilding resale

Hapag-Lloyd boss warns of overcapacity during ‘turbulent times’

CPLP makes $597.5m dropdown buy of container ships, LNG carrier

Container shippers warn carbon tax will hike freight rates

CMA CGM poised to splash out $2.5bn on series of container ship newbuildings

Newbuildings

ONE orders 10 container ships worth more than $1.6bn

Costamare ditches China newbuild order for six neo-panamax container ships

Reduced red ink at ONE helps K Line book profit

Reshaped Capital Product Partners sees profit spike

‘Extremely bleak’: Bangladesh closes ship-recycling market after price falls

Zim fixes Gram Car Carriers PCTC for five years in $55.8m charter

Yangzijiang defies China’s zero-Covid policy to maintain deliveries

Buoyant shipping markets enjoy best six months since 2008, says Clarksons

Oil Brokerage’s James McNicol: ‘This is the start of a journey’

VLCCs ticking upwards, but stay a long way from zero

People

Britannia head Cutler to lead the International Group

Finance veteran Sebastian Wittgenstein joins Transport Capital

Charles R Weber leadership said to be poached by competitor

Istanbul shipping scene comes alive after the pandemic

Low-profile London Greek shipping legend dies aged 93

Jeff Bezos’ Blue Origin abandons plan to use converted ro-ro for rocket recovery

Marine Money’s analyst panel is back, but it’s not what it used to be

Master dives from cargo ship to save escaped meerkat called Boris

Technology chief Richard White leaves Clarksons after 17 years for a career break

Two crew members die on Norden product tanker in Bangladesh

German shipbroker Richard Heinrich-Mucke dies in fall from building

Tanker owner James Fisher finds new CEO as O’Lionaird steps down

‘Shouting and screaming’: Vafias faces down investors in combative Imperial call

Midshipman X revealed: USMMA student heartened by response to essay detailing sex assault at sea

Hope Hicks files suit against AP Moller-Maersk unit over 2019 sexual assault at sea

Jens Martin Jensen swaps Fredriksen’s Seatankers for return to Athenian Tankers

Former Sovcomflot CFO Kolesnikov plotting next move after quitting sanctioned owner

Jefferies drops coverage of 29 shipping companies after analyst exits

Emotional Lendoudis pays homage to founding father in 50th Evalend anniversary

Deutsche Bank raid leaves Jefferies fresh out of shipping analysts

Cruise and Ferry

South East Asia sees first cruise ship port call since 2020

Vitol-chartered tanker cleared after Russia checks

‘Phoenix’-like VLCCs to hit $47,000 per day in 2023 says Clarksons Platou

AD Ports splashes out $140m to buy majority stake in liner and logistics company IACC

VIDEO

Crew evacuation fails after Pacific Basin handysize loses power off Sydney

Ship Management

ITF’s Cotton predicts industrial unrest as inflation soars

Insurance

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Supplementary call strengthens London P&I Club finances

American Club losses grow as claims overshadow premium hike

Swedish Club head Lars Rhodin upbeat as he prepares to bow out

Insurer Norwegian Hull Club drops its P&I business

EU court rejects London P&I Club appeal over $1bn Prestige spill award

Sovcomflot has insurance cover in place, claims boss of sanctioned firm

Doubts creep in over insurance ban on Russian oil transport

Standard Club improves its underwriting result, but free reserves slip

Russian state ready to step in after EU and UK insurance ban

Cyprus says the impact of Russia sanctions on nation’s shipping is ‘manageable’

‘Significant issues’: Russian insurance ban already causing problems for tankers

Why owners are seeking the shelter of FD&D cover

Gallagher warns hull and machinery renewals will ‘test the market’s resolve’ on rates

Cesare d’Amico to lead new merged NorthStandard board

Shipowners approve North P&I and Standard Club merger

UK P&I Club names new chief underwriting officer

Stephen Catlin’s Convex to expand marine team with new hire

Sanctions bind: Havila Capella stuck in port after Norway rejects insurance waiver

Gard’s revenue tops $1bn as the mega mutual pulls further away from the P&I pack

Broker Gallagher predicts more P&I mergers within a year

Insurer Gard spells out scope of EU insurance sanctions on Russian oil shipments

Cruise and Ferry

Three Norwegian consortia bid to build first hydrogen high speed ferry

Performance takes Piraeus Bank loan to fund Angelicoussis tanker buy

MOL’s Hashimoto says Japan has no choice but to import Russian LNG

Hamburg Commercial Bank targets ‘sweet spot’ in secondhand lending market

Iranian-flagged tanker moves to recoup cargo seized in Greece

ESG

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BV partners with Marlink to develop better secure remote services

French group reveals plan for hydrogen refuelling barge fleet

MPCC eyes more methanol projects after landmark newbuild order

Three Norwegian consortia bid to build first hydrogen high speed ferry

Inside view: DNV’s Remi Eriksen reveals shipping’s winding road to zero emissions

Future-proofing: Braemar launches digital platform to offset ship and cargo emissions

Saverys-owned CMB.Tech plots hydrogen fuel station at port of Stockholm

EU environment ministers back Council ETS shipping plans

Price of grain shipping has spiralled 60% from Ukraine war, says Unctad

MOL and TotalEnergies team up on car carrier biofuel trials

Crowley’s carbon output inches upward amid pursuit of net zero

Offshore wind vessel monitoring firm raises €11m to expand

MOL’s ‘rising star’ Koda rolls out carbon desk to help tackle emissions

Japanese yards eye return to LNG carrier market

Ammonia could pose ‘intolerable’ safety risks without design changes, reports find

Bourbon teams with RWE to bid for floating wind projects in the Med

LNG order surge keeps South Korea yards top of ‘alternative fuel’ newbuilding league

Carbon reporting improving in shipping, but some major names remain holdouts

Collaboration is key to tackling carbon, says ClassNK’s Sakashita

MOL teams up with Japanese yards to build ammonia-fuelled gas carrier

VIDEO

26 seafarers feared dead after offshore wind ship breaks in two

UPDATE

MPCC orders two methanol container ships for Elkem charter

Tersan eyes $100m greenfield shipyard project in Turkey’s east

Yilport’s Yildirim basks in CMA CGM stake success

D’Amico strikes fresh Japanese leaseback deal

UPDATE

Ukraine arrests bulker it has accused of carrying looted grain to Turkey

Interview

More back-door IPOs are coming like it or not, says Maxim Group’s deal maestro

Swedish Club head Lars Rhodin upbeat as he prepares to bow out

For Angeliki Frangou’s Navios, newfound resiliency opens door to fresh opportunities

Navios Partners corporate governance of the ‘highest standard’, Frangou says

Being present at Navios’ office throughout the pandemic: ‘You have to give comfort’

Amid questions over dividend, Frangou keeps focus on ‘total return’

For Angeliki Frangou, inefficiency is the one certainty in shipping’s outlook

Banker turned shipowner Andy Dacy sounds caution, but not on LNG

Radziwill: Don’t expect ‘super-spikes’ in capesize spot rates later this year

Gaby Bornheim shifts the focus back onto German owners

New Odfjell boss Fotland is his own man but there will be no ‘revolution’

Saverys seeking to ditch Euronav board as battle lines drawn

WTW’s Abraham upbeat as broker emerges from collapse of Aon takeover

Sterling Shipping founder Fjeld: ‘People thought I was an idiot’ for buying bulkers

Roger Harrison asks ‘what’s next for shipbroking?’ as he takes helm at Gibson

Frontline’s Barstad blames ‘old-fashioned’ methods for talking down tankers

Chemical tanker returns remain a frustration for Niels Stolt-Nielsen

Maersk's Christiansen: 'It's an emergency, but hitting net zero by 2040 is doable'

Disgruntled investor Ned Sherwood steps up his call for Navios Partners changes

Variant need not spell 'doom and gloom' for clean tankers, freight analyst says

Britannia head Cutler to lead the International Group

Finance veteran Sebastian Wittgenstein joins Transport Capital

Chemical tanker owners need ‘the guts’ to stay away from ‘easy’ trades

HNA Technology expands fleet with six secondhand bulkers

Interview

Turkey’s Besiktas jumps into tankers as it grows shipyard footprint

Safeen Feeders buys two supramax bulkers to launch dry bulk joint-venture

Business Focus

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How financiers stepped in when Pangaea Logistics had two ships and the client wanted four

Newsletter

Streetwise: Stars align for shipping’s alternative financiers

NIBC Bank: a billion reasons to look after the small and medium-sized owner

With bank funding still on the wane, Hudson Structured toasts a ‘powerhouse’ alternative

Banker turned shipowner Andy Dacy sounds caution, but not on LNG

Shipping comes home to world’s top ownership nation

Mountain of container ship cash fills Greek owners’ coffers

Special report

Greeks strike it lucky with natural gas investment

Special report: New ambitions blossom in Greek shipping

Born in adversity, Greek start-ups seek synergies

Greek shipping’s new digital in-crowd eyes global markets

Special report: Five fuels that will power the future of shipping

Dr Lynn Loo: Piloting shipping’s move into alternative fuels

Wind propulsion accelerator aims to take small developers through ‘valley of death’

Methanol first-mover Waterfront Shipping says fuel ‘safe and reliable’

Special report: Seafaring life in an era of change

Decarbonisation

Race for trained seafarers is on — as dual-fuel orderbook grows

Green transition requires commitment to safe crewing levels

Fleet Management prods its shipowners to make ready for 2023

Bringing seafarers on board to data-led platforms is crucial

China’s Russian oil imports spike as US crude exports set for record

Weekly

Big liners’ methanol bet, P&I in sanctions crosshairs, Swiftbulk’s dry exit

Record LNG carrier newbuilding bonanza tops 100 ships in first half 2022

DNV’s Remi Eriksen reveals shipping’s winding road to zero emissions

Stolt-Nielsen ready to look again at tanker IPO as rates rise

Editor’s selection: Methanol’s moment, the great (broker) resignation, LNG steamships’ saviour

Offshore

Takeover of seismic shipowner Green Energy Group hits the buffers

Offshore wind vessel monitoring firm raises €11m to expand

Bourbon teams with RWE to bid for floating wind projects in the Med

Cadeler and Seaway 7 clinch ‘record-breaking’ wind turbine deals

Clarksons Platou finds research answer on the Holm front

American Shipping’s $157m offshore splurge could be first of many

Maersk Decom to be wound up after handing over last contract to Petrofac

Navigare Capital diversifies into offshore after selling its largest container ship

Fred Olsen Windcarrier admits defeat on Oslo IPO

Keppel and Sembcorp Marine set to give birth to green ‘powerhouse’

BW Offshore denies report of fatal accident on scrapped FPSO

Clarksons Platou launches new advisory service to help owners into offshore wind

POSH sending four ships to India for $100m-plus contract

Sembcorp Marine’s ‘green’ revolution starts to pay dividends

Start-up Norwind Offshore inks another two CSOVs at Vard

Solstad sells six more as it completes 36-ship clear-out of unwanted fleet

Esvagt to order first methanol-fuelled SOV for wind farms

Golden Energy Offshore succeeds with share issue to fund decarbonisation

Eneti’s Seajacks wins new wind vessel charter at $43,000 per day

Edison Chouest shipowning arm reportedly eyes court restructuring

DSME cancels second out of original trio of Sovcomflot Arc7 LNG carriers

Newcomer Beas Lines emerges as buyer of FSL chemical carrier

CMA CGM and Engie plot $156m renewable gas ‘Salamander’ project

UN crowdfunding appeal falls flat for ‘time-bomb’ FSO off Yemen

CMA CGM to slash French freight rates after government pressure

Navios Holdings reduces bond burden to $80m ahead of August deadline

Jobs

Chartering Manager - London

Chartering Manager - London

Pacific Basin Shipping (HK) Limited

Chartering Associate, M.T. Maritime Management B.V.

Chartering Associate, M.T. Maritime Management B.V.

MT Maritime Management

Research Analyst - London / Hong Kong

Research Analyst - London / Hong Kong

Pacific Basin Shipping (HK) Limited

Maritime Assurance Assessor

Maritime Assurance Assessor

Shell - Rotterdam

Claims Handler – Lighthouse Navigation, Bangkok

Lighthouse Navigation Co.,Ltd.

Cape and Panamax Brokers

Cape and Panamax Brokers

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