TradeWinds | Latest shipping and maritime news

Freightos makes its New York debut following Spac merger Diana Shipping sees lower rates on two charters set to fetch nearly $11m Wind shift? Strong rates on new Eneti contracts could check disposal plans Investors bet on long-term shift out of Russian oil trades Livanos may need to bump up offer to roll up GasLog and GasLog Partners ‘Alternative’ ship finance matures, but is cut-rate pricing a risk? Eco shock: green fuels will not beat fossil fuels on price until 2040, MSI warns Banks scrutinise owners’ green credentials before newbuild investments Karpowership inks deal with Ukraine to explore floating electricity supply Star Bulk protected from downside by scrubber premium of up to $7,000 a day

Livanos may need to bump up offer to roll up GasLog and GasLog Partners

Freightos makes its New York debut following Spac merger

Diana Shipping sees lower rates on two charters set to fetch nearly $11m

Greeks and Turks rule the roost in the UN-led Ukraine grain trade

Wind shift? Strong rates on new Eneti contracts could check disposal plans

Marine Money

Investors bet on long-term shift out of Russian oil trades

Marine Money

Container rates are ‘like a fighter aircraft that has been shot down’

Streetwise

Is diversity always a good thing? Maybe not if you’re talking about shipping stocks

Interview

Demand can handle the orderbook, says car carrier boss Leif Hoegh

Marine Money

Dry bulk ‘the best trade of 2023’, says Clarksons Securities

Banks scrutinise owners’ green credentials before newbuild investments

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Insight & Opinion

Dig for victory: why excavator sales in China may signal capesize rally

Wavelength

Shipping steams ahead on fairy dust from the Magic Mountain

Streetwise: Why investing is getting ‘sticky’ at the bottom of a dry bulk trough

Comment

US ‘cakeism’, the Kremlin and the lure of rich rewards

VLGC prospects bright as Panama Canal congestion set to increase, Fearnleys says

Dry bulk spot rates sink but futures point to bigger rebound after Chinese New Year

‘The Covid trade is over’: Rates across key bulker segments fall to 2.5-year low

Fredriksen lights bonfire of the vanities as Euronav deal fails

Streetwise: Ireland’s Ardmore and the tanker group led 2022 stock gains

Flags that let owners flout their own laws should feel the consequences

Robert Bugbee: Investors ‘wrong’ to correlate VLCC weakness with product tanker outlook

Star Bulk expects ‘extremely weak’ supramax market to recover after Chinese New Year

Editor’s selection: Euronav ‘must keep shipping oil’; Greeks return to Russia crude; Lone LNG carrier sent for scrap in 2022

Comment

How shipping leaders would tackle real problems with a pile of fake money

Viewpoint

Employers are undermining talks with workers at the UN’s negotiating table

Green Seas

Podcast: Did the IMO 2020 sulphur cap make shipping’s carbon footprint worse?

Zero Carbon Centre warns shipowners to expect imbalances between alternative fuel supply and demand

Santos Brasil wants more after diving into liquid bulk terminals business

Wavelength

Soren Skou is the Alex Ferguson of shipping. Here’s why

Comment

Shipping should protest the US’ criminalisation of seafarers

People

Rebel shareholder Bjarte Brondmo quits board of restructuring DOF

Kirby adds former BP Shipping head Dio to board of directors

Fednav recruits Frank Mortensen to lead on strategy

Eagle Bulk expands board with appointment of veteran director

NorthStandard makes key executive appointments ahead of merger

Cofco’s head of freight jumps ship to build trading team at Eurochem

Slideshow

All-star maritime cast urged to ignite passion in next generation

Lomar awards bursaries to nine students in memory of Achim Boehme

Claire Dumas becomes NIBC CFO after 22 years at ABN Amro

Maersk’s new head Clerc acts fast with fresh leadership team to face container headwinds

GC Rieber rejigs management team as it pursues wind shipping goal

Henrik Sleimann Petersen to leave Ultrabulk amid reshuffle

Insurer Skuld makes key appointment in its hull business

North American decarbonisation group taps new vice president

UN names Kuwaiti admiral to run the Black Sea Grain Initiative

CMA CGM appoints Orange executive as new finance chief

Harald Fotland beefs up Odfjell’s top team with three new promotions

Law firm Tatham & Co brings in Ioanna Vitta to set up shop in Greece

Eagle Bulk names new finance chief as Frank De Costanzo steps down

Buttery, Klemme and Maltby join expanded Grindrod Shipping board

Clan clients hunt bulkers and MPP tonnage for Russia trade

Russian crude transfers hit high in Mediterranean as Europe cracks down

Venezuela faces long road back as it freezes crude exports for contractual reviews

GasLog Partners conflicts committee to review buyout offer from parent

Maersk Broker beefs up on LNG with two key new hires for 2023

Livanos launches $398m bid to complete private buy-backs of GasLog LNG firms

LNG

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New liquefaction project sanctions could soak up bulk of open LNG newbuildings

Ice-breaking LNG carrier makes round trip voyage to China in harsh conditions

Golar nets $140m by unwinding hedges on FLNG production as gas prices fall

Incoming new FSRU for Turkey’s Botas loads cargo in Egypt

Dynagas linked to LNG carrier newbuilding trio at Hyundai Heavy Industries

Oman’s Asyad confirms LNG carrier order as it seeks to diversify fleet

Work rolls on for $4.2bn worth of Russian LNG newbuildings

LNG bunker vessel supply crunch looms as newbuildings multiply

Thirty-year-old Seapeak LNG carrier offered for demolition sale

Evangelos Marinakis’ Capital Gas poised to fix LNG carrier newbuilding duo to Nigeria LNG

LNG carrier spot rates ease into 2023 but term business active

Single LNG carrier scrapped in 2022 with slim pickings forecast ahead

Avenir LNG reports loss in first quarter with full asset use

Sakhalin LNG exports threatened by Russian war risk exclusions

Limited impact on LNG shipping seen from EU gas price cap

Oman swoops on LNG carrier duo at Hyundai Samho yard at strong price

New German FSRUs to replace more than half country’s Russian pipeline gas

Bumper year for LNG sale and purchase deals with nearly 25 vessels sold

Golar LNG launches reverse auction for $300m bond issue

Business Focus

China’s shipyards turn LNG newcomers with record order haul

Hunter says ‘stay tuned’ for next move as it reveals final profit from VLCC fleet

Landmark Poseidon Principles report shows insurers’ portfolios failing to meet climate targets

Diana Shipping sells oldest capesize bulker for $15m

Anglo American’s first LNG-fuelled capesize bulker delivers iron ore to China

UK-based Russian owner Rostrum builds fleet in East-West dry trades

Best time to buy ships is ‘when nobody would lend you money’, Tsakos says

Boxships

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In-depth

Boxer accused of key role in drug scandal engulfing MSC faces his toughest fight

CMA CGM-backed Neoline finalises order for first $65m-plus wind-powered ro-ro

MSC ordered to pay up after judge makes good on default judgement threat

Lower demand pushes Matson to forecast steep drop in shipping revenue and profit

Cosco splashes $814m on stake in logistics company Cofco Fortune

SeaLead fixes another large boxship at sharply reduced rate

Freightos reports record results ahead of planned Nasdaq listing

SFL Corp eyes new bond issue as $138m convertible maturity looms

Hapag-Lloyd and MSC expand in Italian terminal sector

Maersk sublets to rival as big box charter market collapses

Newcomer Ellerman ditches Asia-Europe after freight rates tank

‘Doomsday clock’ ticking for liner operators on east-west trades

MSC’s secondhand shopping spree veers towards $10bn mark

Container lines get creative to keep idle fleet ‘artificially’ low

Euroseas offloads container ship for $14.2m in reported demolition deal

Insurer adds to pile of ONE Apus claims after Crocs go overboard

Crippled container ship towed to Dunkirk after engine breakdown

Container shipping’s green performance flounders, but tankers shine

German owner, cargo ship pulled into multi-million dollar yacht fight

Seaspan admits defeat in $300m investment-grade bond battle

Chinese buyers snap up chemical tankers in more subdued markets

Purus Marine brings in BW LPG’s Pontus Berg as fleet boss

Svein Steimler to retire after 27 years at NYK, remain active with Knutsen and port ventures

MSC snaps up what was once world’s biggest boxship from Maersk

Vessel risk: RightShip launches ‘task force’ to guide ports

Private equity firm offloads stake in Indian terminal operator to Hapag-Lloyd

ESG

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Green Seas: EU-funded research finds scrubber discharge harm at the tiniest of concentrations

Eco shock: green fuels will not beat fossil fuels on price until 2040, MSI warns

Anglo American’s first LNG-fuelled capesize bulker delivers iron ore to China

Clan clients hunt bulkers and MPP tonnage for Russia trade

UK-based Russian owner Rostrum builds fleet in East-West dry trades

Landmark Poseidon Principles report shows insurers’ portfolios failing to meet climate targets

Vessel risk: RightShip launches ‘task force’ to guide ports

Safety blitz helps Singapore shipyards slash worker deaths

Norsepower secures second tanker rotor sail deal

Debate on noise rules being mandatory or not gets louder as IMO meeting starts

Green Seas podcast: Biofuels prove an easy but expensive carbon-cutting solution for shipping

CII tool too ‘simplistic’, say London Greek shipowners

CMA CGM-backed Neoline finalises order for first $65m-plus wind-powered ro-ro

Editor’s selection: Thome-OSM tie the knot, HSBC retreats from shipping and Euronav seeks to save Frontline tie-up

Blue Visby architect predicts a ‘year of reckoning’ for ‘Sail fast then wait’

Hoegh and MAN to go straight to ammonia on four newbuildings

World Economic Forum: Should decarbonisation be collaborative or should shipping lead the way?

Shipowners Nordic Hamburg and Purus select scrubber and carbon capture system for newbuilding quartet

SCI facing retrofits as India mandates use of green hydrogen

MISC Berhad partners with Mitsui, Samsung Heavy and Andritz in big carbon capture push

MSC and Maersk to disband huge 2M liner alliance in 2025

Shippers allege smoking on board caused fire and cargo damage on bulker

Ship Management

Crew restrictions return following end of China’s zero-covid policy

Idan Ofer vehicle Kenon Holdings trims position in liner giant Zim

Euronav silent as S&P interest swirls around world’s second biggest tanker

FuelEU 2% green fuels sub-quota for shipping too low say lobbyists

Interview

Interview

SCMA’s Bernice Yeoh restarts Asia outreach campaign after pandemic restrictions

Meet the maritime heating and cooling specialist who fights fires

‘I want to take it forward,’ says ‘ambitious’ new SSY chief Stanko Jekov

Peter G’s return to shipping: ‘I’m happy … and I can’t even tell you why’

Braemar’s James Gundy: ‘I’m a believer in consolidation’

Marine procurement may not be sexy but it can make ships greener, says Inchcape exec

Buoyed by dry bulk, Norden’s Jan Rindbo eyes opportunity in tankers

Maersk-backed ZeroNorth open to more deals as tech sector poised for consolidation

Canopius takes a principled approach to the marine insurance business

Shipping analyst Joakim Hannisdahl reveals plans for new fund after ‘challenging’ Cleaves split

Streetwise: Inside the world of shipping investor ‘Disgruntled’ Ned Sherwood

Ned Sherwood has only made profits on the shipping company he’s most disgruntled about

Navigating stormy times, Vogel brings sunny message to Miami ASBA conference

People said nuclear plan was ‘mad’ — now they ‘think it’s clever’, says Core Power’s Mikal Boe

Semiramis Paliou is committed to protecting father’s legacy while moving Diana Shipping forward

Former Grieg Green head Petter Heier sets up shop as a creative cash buyer

Stars align for Shell’s shipping chief Karrie Trauth a year into top job

‘Back on track’: vindicated James Gundy clears decks for growth at shipbroker Braemar

Norden CEO: concerns over demand for oil and dry commodities if recession hits

Norwegian’s Del Rio: ‘If you want instant mashed potatoes, you got to go elsewhere’

Norsepower secures second tanker rotor sail deal

Greek and German shipowners in talks as maritime agenda heats up

Boxship scrapping hit 17-year low in 2022 but owners now have no choice

Handysize order rush helps fill hungry Japanese yards

Video

Cargo ship devastated by missile strike in Ukrainian port

Polembros offloads its oldest crude carrier at a juicy price

Offshore

Eneti scores up to $13m in new contract revenue on three wind units

Record-breakers: ‘Simply not enough’ AHTS ships in North Sea, Fearnleys says

Fincantieri wins contract to build Crowley-Esvagt SOV

Crowley and Esvagt joint venture to build US service operations vessel

Vroon boss Marks steps down as $330m offshore fleet put on sales block

Renewable construction contract adds nearly $100m to Keppel backlog

Eneti shares climb as contract revenue beats analyst expectations

Safeen doubles offshore fleet through organic growth

Eneti locks first WTIV newbuilding into $75m contract for 2025 work

CMB’s Windcat orders series of hydrogen-powered CSOVs in Vietnam

Group of US investors take big chunk of Solstad Offshore in OSV recovery

Cadeler splashes out on $345m turbine installation ship in China

Two seafarers injured in blast on Greek offshore support vessel

Edda Wind orders CSOV and wins 25% charter hike for SOV

DOF Group looks to have the numbers to stave off bankruptcy

Tidewater sees stock price drop after issuing shares to cover Swire Pacific buy

Tidewater drags customers into short-term charter deals to catch improving rates

PGS sells out $150m equity raise as seismic markets heat up

Boskalis to delist in November after HAL seals $2.3bn takeover

Equinor secures tonnage with platform supply vessel charters worth $236m

Older car carriers more than double in value as Hoegh and Ofer cash in

Private equity player Oaktree offloads chunk of tanker giant Hafnia

Koch extends deal for 2020 Bulkers newcastlemax for up to 18 months

US doubles down on sanctions warnings over record Iran oil exports

Worn extension cable caused huge fire on NSC bulker in Sweden

Greek owner cashes in on aframaxes as sweet asset plays become habit for Avin

Business Focus

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The $1bn question: Here’s how 54 leaders would invest in our fantasy sustainable shipping fund

Fulford-Smith: Invest in ‘cradle-to-cradle’ green recycling for sustainable ships

Kristin Holth says back long-term shipowners, not asset players

Oystein Kalleklev: IMO 2023 rules have turned into a ‘car crash’

Jigo Hayashi: Net-zero cannot realistically be delivered without efficient carbon capture and storage

Special report: Shipbuilding faces choppier 2023

Best year for Hyundai yards since 2007 despite a slowdown in global newbuilding orders

Japanese shipyards feel the pain as bulk carrier orders slump

Special report: A Danish approach for the future

Danish Shipping is at the heart of turning Denmark’s blue economy green

Shipping has bigger concerns than a change in Danish government

Business Focus

Collaboration in Copenhagen: shipping aims high to get to zero

Japan’s maritime cluster gathers around wind farm projects

Business Focus

Wind goes into battle with oil and gas for offshore vessels

‘Massive market’: Norway’s Stodig gears up to capitalise on domestic wind ambitions

Special report: Wind goes head-to-head with oil & gas in vessel market

Special report: Ukraine leaves insurers reeling

France’s SCOR builds sustainable marine insurance business

IUMI head Turner sees ESG progress as he prepares to step down

Amphitrite targets niche market for ‘singletons’ and non-IACS ships

Awilco-backed IWS orders more CSOVs and plots $35m share sale

Boxes float free as container ship capsizes and sinks in Iran

Eight seafarers missing and nine unconscious after cargo ship sinks off Japan

D’Amico snaps up leased MR tanker for $13m below market price

Usual tanker suspects linked to their first VLCC purchase

Bangladesh’s HR Lines ditches newbuildings for secondhand boxships

Tw+

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Machine earning: How digital monitoring can make a difference

Carbon laws dawn: Are new IMO emissions rules fit for purpose?

Cruise seeks cut to intensity to prevent perverse incentives

Tug of law: CII ‘cuts through the heart’ of contracts

How to digest the IMO’s alphabet soup of rules

How EEXI and CII work (not forgetting SEEMP)

Rules not fit for purpose won’t get the job done

Class takes the lead on setting ship energy plans

Climate experts tell IMO: Here’s where you’re going wrong

The market is expected to become the ultimate CII enforcer

Slow steam ahead for older LNG carriers

Leap in the dark: Tanker owners brace for upheaval over eco targets

Pandora’s boxes: Lines fear what they’ll find when they unpack IMO rules

Bumpy road lies ahead for bulkers

Lenders go ‘bank to the future’ on efficiency standards

Don’t expect carbon rules to create a wave on the beaches

CII isn’t perfect but it’s better than nothing, says Maersk Broker

Meet the EEXI experts: ship managers are gearing up

Just-in-time arrivals: An idea whose time has come

Putin can’t count on Xi to ride to the rescue

Atlantica Shipping starts 2023 with another PSV acquisition

BYD and H-Line ink PCTCs at China’s Guangzhou

Kirby adds former BP Shipping head Dio to board of directors

Eneti scores up to $13m in new contract revenue on three wind units

Japanese capesize ‘stable’ after engine room flooded to depth of seven metres

New liquefaction project sanctions could soak up bulk of open LNG newbuildings

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