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Fleet Consolidation: Owners Fighting For A Share

Shipping is often regarded as a relatively fragmented business, with over 94,000 vessels split between almost 24,000 owners. However, the level of consolidation varies greatly between sectors, while the recent increases in M&A and restructuring activity have driven some change. This month’s Fleet Analysis takes a look at consolidation amongst shipowners in a selection of shipping sectors. A Tighter Chokehold Some of the more consolidated sectors, led by cruise ships, are shown on the left of the graph. As of 1st February 2018 the ‘top five’ owner groups (ranked by ...

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Containers roundup: Concern over freight forwarders securing loadings below assessed level

Week commencing February 19 saw the supply chain start pressurizing carriers for more realistic box rates as Lunar New Year drew to a close. The expectation for main head haul box rates to drop has been apparent since early February, with carriers taking proactive measures to maintain box rates at least at pre-New Year levels. The carriers issued void sailings for the next few weeks and notified their customers that the validity period of box rates had been extended to mid- to end-March. The anticipated drop has occurred from February ...

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BIMCO relaunch ship benchmarking system

BIMCO relaunches ship benchmarking system Shipping KPI after two years of redesign. The system helps shipowners and managers make strategic decisions about their fleet. “The Shipping KPI system enables me, as a shipowner, to make rational strategic decisions on how to run my fleet, by benchmarking with other ships in the segments we compete in. It is an important step for BIMCO in its goal of developing digital solutions for the industry,” says Şadan Kaptanoğlu, owner of Kaptanoğlu Group, President Designate of BIMCO and chair of the Shipping KPI steering ...

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J. Lauritzen: “Ready for market recovery”

“The refinancing and recapitalisation completed in 2017 strengthened our balance sheet”, says CEO Mads P. Zacho, adding that “we are pleased to note the continued strong loyalty shown by our many existing customers, but also that we succeeded in attracting a growing number of new customers during the year.” Main initiatives and events End of Q2, a revision of our strategy was finalised, and a series of strategic initiatives commenced with scheduled completion during 2018. Our strategic ambition is to be the leading player within smaller gas tankers and handysize ...

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Europe Takes First Steps in Electrifying World’s Shipping Fleets

Since early 2015, a mid-sized car ferry, the MS Ampere, has been traversing the Sognefjord in western Norway from early morning to evening, seven days a week — without a whiff of smokestack exhaust or a decibel of engine roar. The 260-foot Ampere, which carries 120 cars and 360 passengers, is the one of world’s first modern, electric-powered commercial ships, with battery and motor technology almost identical to today’s plug-in electric cars, only on a much larger scale. Norway’s long and jagged Atlantic coastline — with thousands of islands and ...

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PPR 5: Review of IMO guidelines for EGCS creates debate

The International Maritime Organization has agreed to update the 2015 Guidelines for exhaust gas cleaning systems (EGCS Guidelines) to clarify a number of issues, and it is proving challenging to strike a balance amid fears the review could make the guidelines overly stringent and thereby discourage uptake of the technology. Several papers regarding the review of the EGCS Guidelines were submitted to the 5th session of the Sub-Committee on Pollution Prevention and Response (PPR 5) which met in London in the first week of February. The terms of reference for ...

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Absence of seasonal freight spike hits Teekay bottom line

Teekay Tankers’ adjusted fourth-quarter 2017 net loss of $5.9 million was attributable to the absence of the typical winter seasonal spike in the spot tanker freight market, CEO Kevin Mackay said this week. “This market is very weak and if it continues at these levels, we will have to look at levers available to us [to cut costs],” Mackay said during the company’s earnings call. Further sale-and-leasebacks for the company’s fleet, select asset sales, financing of service business and evaluation of quarterly dividends were among the “levers” the company could ...

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Seven Shipping Stocks Yielding Up To 15%

“I am so happy with the recommendation of GSL-PB from the October 2016 issue. Can you recommend some others with similar characteristics?” — Guido S. This email arrived last week. And the timing was fortuitous, since I already had my eye on other opportunities within the shipping sector. GSL-PB is a preferred stock issued by Global Ship Lease (NYSE: GSL ) , which owns a fleet of 18 mid-sized containerships. These vessels are leased to established shipping lines under fixed charter contracts. The fleet currently has a perfect utilization rate ...

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Indonesia postpones move requiring coal exporters to use national carriers

Indonesia has postponed the implementation of a regulation that would require coal exporters to use national maritime carriers and domestic insurance services, amid concerns about the impact on international trade, sources said this week. The government has given its trade ministry up to a year to revise the policy, the sources said. “I think it is right for the government to postpone [this regulation] and try to come up with a better solution,” a major Indonesian coal miner said. The government, coal exporters and shipping companies are to gather for ...

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Flooding cripples grain barge shipments on U.S. Midwest rivers

Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading and sidelined the towboats that haul farm belt crops to Gulf Coast export terminals. The flooded waterways sent cash premiums for corn barges delivered to Gulf Coast terminals soaring. Rates hit peaks on Thursday that have not been seen in 18 months, as exporters scrambled to secure enough grain to top off vessels bound for overseas markets, traders said. Barge lines suspended ...

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Nordic American Tankers Announces Time Charter coverage for NAT vessels in focus with major oil companies in the West and the East

In the autumn of 2017, we advised you of our time charter activities/contracts with oil companies such as Shell, BP, ExxonMobil and other major oil companies in the West and in the East. The contract with ExxonMobil has expired but we do work for them on a regular basis. From time to time we also have shorter contracts (typically up to 90 days) for ships serving as storage space for major companies and large oil traders. In our message to investors of January 16, 2018 we informed you of the ...

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The CMA CGM Group to set up a multi-temperature logistics facility at DP World London Gateway to offer new services to its customers

– CMA CGM adds innovative new services such as quality control of the products – A 107,155 sq ft brand new, state-of-the-art cold store facility located at DP World London Gateway Logistics Park – Construction will begin later in 2018, and operations are expected to start in early Summer 2019 CMA CGM, a world leader in maritime transport, is to take a long-term lease and invest in a build-to-suit, multi-temperature warehouse facility at DP World London Gateway Logistics Park. The CMA CGM Group will occupy, through its international freight forwarding ...

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Knutsen Group And Marlink Extend Contract To Ensure Future Proof Fleet Communications

Norwegian tanker specialist Knutsen has extended its contract with Marlink, ensuring that its fleet of 38 vessels and two planned newbuilds continues to enjoy high bandwidth, reliable global IP connectivity and voice calling on the cost-effective Sealink Premium VSAT service. Marlink’s popular Sealink VSAT features a Committed Information Rate (CIR), which ensures a minimum level of bandwidth is always accessible while also providing a faster Maximum Information Rate (MIR) when available. Based on its guaranteed level of service, Knutsen Group is exploring new ways to further digitalise its fleet of ...

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New IBF agreement secures the rights of dockers to do the lashing

The International Transport Workers’ Federation (ITF) and Joint Negotiating Group (JNG) met in Manila from 19-22 February 2018, for the final round of negotiations for the creation of the new IBF Framework Agreement 2019-2022. On 23 February 2018, the ITF’s expanded Fair Practices Committee Steering Group (FPC SG) met and approved the terms of the new International Bargaining Forum (IBF) Agreement. The members of the FPC SG highlighted the new terms agreed in Article 4, Non-Seafarers Work or the “Dockers’ Clause”, as it is often referred to, as a significant ...

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Indian Register of Shipping (IRClass) awards law students of Mumbai University with Shri S Venkiteswaran Prizes in Law

Indian Register of Shipping (IRClass) has continued its commitment to law students of Mumbai University by awarding 44 students for academic excellence with prizes which were instituted in the memory of Late Shri Venkiteswaran. At a function held at the Royal Bombay Yacht Club on 16th February, IRClass awarded the prizes which include a citation and a cheque to the students securing highest and second highest marks across 12 subjects. The function was well attended by Mrs. Keole, Principal of Government Law College, Prof Pithawalla, Mr. Marco Wadia (Director, IRClass), ...

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