TradeWinds | Latest shipping and maritime news

Capesize bulker market rises and falls as ‘mixed dynamics’ take hold Forget Phoenix, no more Nordic: It’s all Pangaea Logistics from here Carnival posts first profit since pandemic shut down global cruise business Russian GPS ‘jamming’ causing collision risk in Black Sea, Romania says Shoreline takes on P&I executive Simon Swallow It’s a compromise, stupid! Former Cyprus shipping minister Vassilios Demetriades spills beans on EU horse-trading Editor’s selection: Euronav carve-up? Dubai’s dubious accolade and police probe Ince deal European investors back both Euronav and Frontline following rumoured tanker deal Charterers more comfortable as VLGC rates go from ‘astronomic’ to merely ‘exceptional’ Trade imbalance leads to growing numbers of empty containers stuck in Russia

Forget Phoenix and no more Nordic: It’s all Pangaea Logistics from here

Capesize bulker market rises and falls as ‘mixed dynamics’ take hold

Economou strikes again with 9.1% stake in Diana Shipping spin-off OceanPal

European investors back both Euronav and Frontline following rumoured tanker deal

Exclusive

Fredriksen and Saverys close to deal to carve up Euronav fleet to end bitter takeover fight

Shipowners blast upcoming EU ETS as ‘a tax on maritime trade’

In-depth

Suez Rajan: Falsified documents, fake signals, a captain’s protests and a sea of questions

Comment

Should shipping ditch methanol for a truly carbon-free future?

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

Cruise and Ferry

Carnival posts first profit since pandemic shut down global cruise business

It’s a compromise, stupid! Former Cyprus shipping minister Demetriades spills beans on EU horse-trading

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LNG

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

Trade imbalance leads to growing numbers of empty containers stuck in Russia

Russian GPS ‘jamming’ causing collision risk in Black Sea, Romania says

Police called in to probe Ince & Co acquisition

Top Ships goes for reverse share split in bid to maintain Nasdaq compliance

Shoreline takes on P&I executive Simon Swallow

10 years after: John Wobensmith tells ASBA forum about the decade past and the one ahead

Editor’s selection: Euronav carve-up? Dubai’s dubious accolade and police probe Ince deal

Streetwise: Dry bulk’s leading dividend evangelist has a message of shares salvation

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

Ships refuelling further out from congested Panama Canal, Monjasa says

NGOs turn spotlight on owners selling ships for recycling at substandard yards in Bangladesh

Charterers more comfortable as VLGC rates go from ‘astronomic’ to merely ‘exceptional’

ITF inspectors recover $119m in seafarer wages over last three years

Aramco makes international LNG move with $500m investment in MidOcean Energy

Emissions milestone: Odfjell to trial solid oxide fuel cell on chemical tanker

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

China unveils country’s first methanol bunkering standards

Jakarta court sides with Norway’s Parbulk over jurisdiction in long-running Humpuss dispute

CMB.Tech venture building Africa’s first green hydrogen refuelling plant

‘We need to get started’: Solvang scores government funding for carbon capture pilot

China dashes tanker owners’ hopes of more product cargoes and crude imports

Alf Aanonsen fires back in charter spat, arguing Grey Rock claim is ‘not valid’

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

Diana Shipping locks capesize bulker into charter with Solebay for nearly two years

Cruise and Ferry

Carnival finishes connecting Holland America Line fleet to shore power

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

Slideshow

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

Have long-term container freight rates reached a turning point?

Grieg-backed Skarv heads to China for multipurpose newbuildings

ESG

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Emissions milestone: Odfjell to trial solid oxide fuel cell on chemical tanker

CMB.Tech venture building Africa’s first green hydrogen refuelling plant

NGOs turn spotlight on owners selling ships for recycling at substandard yards in Bangladesh

‘We need to get started’: Solvang scores government funding for carbon capture pilot

Berenberg launches carbon emissions trading scheme for shipping

ABS boosts Greek credentials with rapid office expansion

Shipping needs new finance to hit emissions targets, says UN

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

Hopes for quick lifting of Russian oil products ban are futile, says minister

Sweden’s Wallenius Lines taps company lifer to grow shipowning and decarbonisation

Berenberg launches carbon emissions trading scheme for shipping

Oaktree-backed GEOS sells $33m in stock to pay for Vroon ships

Arrests rise as Ireland confirms record $165m cocaine haul from bulker Matthew

Great Eastern turns a profit selling bulker bought six years ago

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

Bullish ONE mulls Far East order for up to 10 boxships

Trafigura signs $500m export finance deal to keep Saudi cargoes flowing

MAN Energy Solutions first ammonia engine to deliver in late 2024

Final piece in New Fortress’ first FLNG unit jigsaw leaves for Mexico

Ukraine grain insurance capacity grows despite Odesa attacks

Titanic sub disaster highlights ‘need for search and rescue upgrade’

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

Wavelength

Lars Barstad’s justice would be a fitting punishment for Putin’s war crimes

Shipping needs new finance to hit emissions targets, says UN

ABS boosts Greek credentials with rapid office expansion

CMA CGM inks eight methanol dual-fuel 9,200-teu boxships at Shanghai Waigaoqiao

Two insanitary Cameroon ships banned by Paris MOU as another does a runner

Diana Shipping dives into methanol-fuelled bulkers with $92m order for two kamsarmaxes

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

Insight

Record container ship growth pushes freight and charter market south

Viewpoint

Viewpoint: Denmark leads the call for intense collaboration to get to zero

Law firm Birketts boosts its shipping team with Ince hires

Spot market

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

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

Asiatic Lloyd eyeing switch to methanol for ultramax bulker newbuilds in China

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

WinGD nets first AiP for ammonia two-stroke engine as race hots up

Seacon eyes ship buys after securing lease finance for newbuilding

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

Seacor Holdings sells off US tug fleet to domestic rivals

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

Jobs

Dry Bulk Operator (M/F), Luxembourg

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