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Dry Bulk FFA: Supramax Markets Still Bearish

Supramax Index- Continues to be bearish but on MA support, upward moves that fail at USD 9,000 would imply further downside continuation. Q3 – A head and shoulders pattern has is confirmed and the neckline is acting as resistance. Caution on a close above USD 8,455 as this would suggest pattern failure. • Cal 18 – Technically bearish, we remain cautious due to oversold momentum. Technical sell levels on price failure between USD 8,655 and USD 8,940. • Q3 v Cal 18 – Behaved as expected last week. Another bullish ...

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Asia Tankers-VLCC rates to stabilise as owners’ resistance builds in weak market

Freight rates for very large crude carriers (VLCCs) are likely to become steady around the current levels as owners resist charterers’ attempts to pull down hire rates with the emergence of a three-tier market, brokers said on Friday. That came as brokers said South Korean charterers GS Caltex/S-Oil failed to charter a VLCC at below 40 points on the Worldscale measure for a voyage from the Middle East to Korea as owners balk at hiring out their ships at a price equivalent to operating costs. That is equivalent to earnings ...

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In The Wake Of Giants: Boxship Fleet Deployment Trends

Trends in containership deployment are driven by several key factors, including trade growth, the ‘cascade’ of ships from one trade lane onto another, and infrastructure capabilities. In the midst of rapid growth in the ‘mega boxship’ fleet, and nearly a year on from the opening of the new expanded locks of the Panama Canal in June 2016, it is a good time to take a look at recent trends in boxship deployment. From The Top The 15,000+ TEU ‘mega boxship’ fleet has expanded rapidly in recent years, and stood at ...

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Golden Ocean: Muted quarterly earnings, but factored in the share price; reiterate Attractive view

Sequentially weaker earnings as freight rates retrace: Golden Ocean’s (GOGL) TCE revenue declined 8% y/y to USD 57.4m in 1Q17 from USD 62.4m in the previous quarter due to the correction in Capesize rates and higher voyage costs. GOGL’s fleet operated at an average daily rate of USD 11,304 compared with USD 11,809 in 4Q16. Average benchmark daily earning for Capesize vessels in 1Q17 was USD 10,900 over USD 12,000 in 4Q16, according to the Baltic Exchange. The company’s TCE revenue was lower than our estimate of USD 62.5m. On ...

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Baltic index down for 10th straight session on lower rates

The Baltic Exchange’s main sea freight index fell for the tenth straight session on Friday, as rates remained weak across all vessel segments. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 6 points, or 0.65 percent, at 912 points – its lowest since early March. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels was down over 4 percent for the week. The capesize index fell 4 points, or 0.25 percent, to 1,591 points. Average daily earnings for ...

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The LNG Fuel Finder – a new service for LNGi

Just in time for Nor-Shipping, DNV GL will launch the LNG Fuel Finder – a new tool on its LNG business intelligence portal LNGi. The new LNG Fuel Finder service will allow shipowners and charterers to register their interest in using LNG as a ship fuel free of charge, connecting them directly with LNG suppliers. DNV GL has also introduced the option of signing up to a new lean version, where interested parties can access some of LNGi’s services and data free of charge. The question of bunkering availability is ...

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Gas shipper Flex LNG signs deals to buy six new vessels

Oslo-listed Flex LNG has signed contracts to buy six new liquefied natural gas (LNG) vessels for its fleet by 2019, as it bets on increasing fuel demand from Britain and other countries, its chief executive told Reuters. The gas shipping company said earlier this year it was considering buying the six vessels, each with around 170,000 cubic metres of capacity, subject to securing funding for the $1.2 billion transaction. Geveran Trading, the private investment vehicle of billionaire shipping tycoon John Fredriksen, acquired 52 percent of Flex LNG earlier this year, ...

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From parts to files: Wilhelmsen explores 3D printing with Ivaldi Group

“With an ambition to shape the maritime industry, exploring new technologies and business models are key,” says Thomas Wilhelmsen, group CEO at Wilhelmsen. “We are one of the largest suppliers of spare parts, and we believe that sending files and printing instructions digitally instead of spare parts can enable us to deliver faster, cheaper and more specialised products to our customers.” “We see the future of supply as being on-demand, locally distributed and fully digitised. Wilhelmsen’s long history of innovation in the maritime industry, combined with our own expertise in ...

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Wärtsilä’s hybrid system increases offshore supply vessel’s engine efficiency

The technology group Wärtsilä has signed an agreement with Eidesvik Offshore to install a hybrid system with batteries on board of its vessel Viking Princess. It will become the first offshore supply vessel in which batteries reduce the number of generators on board. The new energy storage solution will improve engine efficiency, generating fuel savings and reducing greenhouse gas emissions. Viking Princess provides supplies to oil rigs in the North Sea and Barents Sea. The 5-year old vessel runs on four LNG-powered Wärtsilä engines. Depending on the ongoing task and ...

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MOL Launches R & D on Autonomous Ocean Transport System – Selected for Japanese Government Transportation Research Program

Mitsui O.S.K. Lines, Ltd. announced that its joint project with Mitsui Engineering & Shipbuilding Co., Ltd. on developing a technological concept for autonomous ocean transport system, was selected by Japan’s Ministry of Land, Infrastructure, Transportation and Tourism (MLIT) for its FY2017 Transportation Research and Technology Promotion Program (Note) on May 16, 2017. The research consortium of the project is comprised of MOL, Mitsui Engineering & Shipbuilding, the National Institute of Maritime, Port and Aviation Technology, Tokyo University of Marine Science and Technology, Nippon Kaiji Kyokai (ClassNK), Japan Ship Technology Research ...

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Sovcomflot’s 16th annual Business Partners Meeting held in Moscow

On 23-24 September 2017, SCF Group (PAO Sovcomflot) held its 16th annual Business Partners Meeting, which this year took place in Moscow. About 200 delegates attended, from organisations including: major Russian and international oil & gas companies; Russian ministries and governmental agencies; investment and finance; insurance, legal and other specialists participated in the conference’s events. The conference’s plenary session featured presentations by: Sergey Ivanov, Special Presidential Representative for Environmental Protection, Ecology and Transport; Kirill Molodtsov, Russia’s Deputy Minister of Energy; Dmitry Kobylkin, Governor of the Yamalo-Nenets Autonomous District; Jacques de ...

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IMCA aims to set the Jones Act record straight

On May 10, 2017, U.S. Customs and Border Protection (CBP) issued Customs Bulletin & Decisions, Vol. 51, No. 19, ‘Withdrawal of Proposed Modification and Revocation of Ruling Letters Relating to Customs Application of the Jones Act to the Transportation of Certain Merchandise and Equipment Between Coastwise Points’. The International Marine Contractors Association (IMCA) immediately welcomed this Decision and noted that it would protect the economy of the United States and protect against significant American job losses in the Gulf of Mexico (GoM). This Decision represents a pivotal step in protecting ...

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Global Maritime Strengthens Asia Pacific Operations with Key Hires

Global Maritime, a leading provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has made two important hires to support its Asia Pacific (APAC) operations. Mei Ling Chan has been appointed as Regional Finance Manager for APAC where she will take responsibility for finance functions and reporting across the region; and Leong Weng Yoon has been named Global Maritime’s new HSEQ Manager for APAC. Leong Weng Yoon’s appointment reaffirms Global Maritime’s commitment to the highest health, safety, environmental and quality standards across its operations. Both will ...

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Navig8 Chemical Tankers Takes Delivery of its First 25,000 dwt Stainless Steel Chemical Tanker from Fukuoka Shipbuilding

Navig8 Chemical Tankers Inc., an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Spica, a 25,000 DWT stainless steel chemical tanker, fromFukuoka Shipbuilding Co., Ltd (“Fukuoka”). The Navig8 Spica is the first of two vessels contracted at Fukuoka to be delivered to the Company and is the first of two vessels to be delivered under the sale and leaseback arrangements entered into with subsidiaries of SBI Holdings, Inc (“SBI”) announced on May 19, 2017. Following delivery from Fukuoka, the ...

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Seaspan Accepts Delivery of 14000 TEU SAVER Containership

Seaspan Corporation announced today that it has accepted delivery of the YM Wind, a 14000 TEU containership that will commence a fixed rate charter with Yang Ming Marine Transport Corp. for a ten-year term with an option to extend for an additional two years. The new containership, which was constructed at CSBC Corporation, Taiwan (“CSBC”), is the ninth 14000 TEU SAVER design containership to join Seaspan’s fleet, and expands the company’s operating fleet to 89 vessels. Seaspan has entered into a sale leaseback transaction for the YM Wind which provides ...

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