Home / Tag Archives: Tops (page 4)

Tag Archives: Tops

Danish Ship Finance Optimistic About Future Prospects of Shipping Industry, But Says Shipping Banks Focus on Strong Ship Owners

Shipping financier Danish Ship Finance said this week that the shipping industry is marching into a more prosperous future. However, it also said that major shipping banks are still focusing on stronger ship owners, as Asian financing is still pretty competitive. In its note, it said that “there are some bright spots on the horizon for the shipping industry. First of all, the global order book as a percentage of the operating fleet has dropped to below 10%. In some segments, the order book remains very high, including large container ...

Read More »

The Uphill And Downhill Of Two Long Cycles…

British cycling star Chris Froome has taken on one long cycle after another, currently tackling the Tour Of Spain following his fourth Tour De France victory back in July. Two long cycles are ongoing in the shipbuilding sector too, and this week’s Analysis takes a look at the progress of the delivery cycles in the merchant vessel and mobile offshore sectors, through a challenging period for the industry. Big Climbs Back in 2006-08, an unprecedented 651m dwt of merchant vessel tonnage was ordered at shipyards globally. Although, following the onset ...

Read More »

Cyber security risks for charterers

What is cybercrime? A cybercrime is the intentional infiltration of a technology system by a third party without consent. For charterers, the major risks are financial loss and data theft, which can lead to reputational damage, lawsuits, business interruption and regulatory action. Diversion of payments The fraudulent diversion of hire and freight is becoming increasingly common. Hackers infiltrate an email system to find out the details of business contacts. They then email the charterer impersonating the accounts department of a payee to redirect payment, either attaching an invoice with a ...

Read More »

Ship Repair Yards See Business Slowing Down After the IMO Decision to Provide a Two-Year Delay in the Ballast Water Management Implementation

Ship-repair yards are facing yet another slowdown in their business. Besides the regular decline in business during the second half of each year, the recent vote by IMO to provide a 2-year leeway to the implementation of the Ballast Water Management Convention, which would otherwise cause a flurry of lay ups for retrofitting, has only added contributed to more slowdown. In its latest weekly report, shipbroker Intermodal, said that “observing the expected slow-down of the second half of the year in ship repair facilities and after a relatively packed first ...

Read More »

Peering Through The Fog: Northwest Europe In Review

The North Sea and even more so the frontiers west of the Shetlands and in the Barents Sea are known for their often challenging operating conditions of rough seas, stormy skies and limited visibility. Unfortunately, the native climate could be seen as something of a metaphor for the region’s offshore markets at present, though a keen observer might spy mercurial signs of fairer weather on the distant horizon… Smooth Sailing Although a relatively mature offshore producing region, NW Europe is still projected to account for 12% and 13% of global ...

Read More »

Why a Hanjin Fleet Came to Hong Kong

The demise of Korea’s Hanjin Shipping Co. Ltd. was the largest bankruptcy of a container line in history, and earlier this year it resulted in the biggest ever court sale of ships in Hong Kong, with a total sale price exceeding US$600 million. In this article we consider Hong Kong’s role as a centre for maritime legal services, and the procedures involved in ship mortgage enforcement. HONG KONG’S MARITIME LEGAL SERVICES • In May 2017, Chinese President Xi Jinping welcomed 28 heads of state and government officials to Beijing to ...

Read More »

Tanker Market: Excess tonnage supply hurting tanker owners

Tanker owners left and right have been conceding this week, that it’s not demand, but an oversupply of ships, which have been hurting their earnings. According to Frontline, “the growth in crude tanker tonne-mile demand suggests that the current tanker market is not suffering from weak demand growth, but rather from excess supply growth which has occurred over the last 18 months. Despite current market weakness which is forecast to continue in the near-term, the Company continues to believe that the market will begin to improve in 2018 as the ...

Read More »

Moore Stephens: Shipping must beware exposure to changing risk landscape

Our third annual Shipping Risk Survey confirms that the effective management of risk within the industry has improved slightly over the past 12 months. But shipping still needs to up its game in terms of managing its exposure to risk, which is increasing and changing in nature, not least in terms of the threat posed by cyber security. Respondents to the survey rated the extent to which enterprise and business risk management is contributing to the success of their organisation at an average 6.8 out of a possible score of ...

Read More »

Genscape: Product Tankers Divert to U.S. as Post-Harvey Demand Spikes

A number of European-sourced gasoline cargoes on the water, which were initially bound for destinations in West Africa and within Europe, have now changed destination to the U.S. in the wake of Hurricane Harvey. So far, Genscape has seen that around 111,000 metric tons (MT) of European gasoline diverted to the U.S. Product tanker ‘Stenaweco Venture,’ which left Finland’s Porvoo refinery on August 2, changed her destination Thursday, August 31, from Lome, Togo, to Cape Canaveral, Florida, with a new ETA of September 9. Similarly, the ‘Elandra Oak,’ which left ...

Read More »

Product Tankers to Reap the Benefits of Hurricane Harvey

Among the tragedy that is the latest Hurricane Harvey, which has hit the US over the past few days, owners of product tankers are bound to exploit the benefits. In its latest weekly report, Allied Shipbroking said that “in the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disruptions the extensive flooding may have brought down with it. Days before the hurricane hit the US coast we were already hearing of an anticipation of ...

Read More »

Enter The Dragon: China Packs A Punch In The Oil Market

So far the results following OPEC’s output reduction plan have been met with mixed reactions. Analysts expect the market to remain between $40-60/bbl for at least 5 years with no significant recovery beyond 2022. Even Shell executive Ben Van Beurden stated oil will remain ‘lower forever’ and highlighted the significance of electric cars in reducing oil demand over the coming decades. The International Energy Agency’s (IEA) believes oil demand will peak in 2040 sustained until then by developing economies and over reliant industries such as aviation and shipping. Despite this ...

Read More »

Chinese Coal Imports: All Fired Up Or Under Fire?

Chinese seaborne steam coal imports have grown significantly in the last decade, from 17mt in 2008 to over 160mt in 2016. However, it has not been a smooth ride, with imports dropping by over 30% in 2015 to 128mt as a result of increased environmental regulations and weak domestic demand. Now, following a strong start to 2017, imports could again be subject to a range of pressures in the rest of the year. Fuel For The Fire After the sharp drop in Chinese seaborne imports of steam coal (including lignite) ...

Read More »

Newbuilding activity set for a pick up

Newbuilding orders are bound for a quick pick up of pace over the next few weeks, as buying interest from ship owners is more than active, in a reverse of the trend set over the course of the previous year. In its latest weekly report, shipbroker Allied Shipbroking noted that “there was a fair amount of activity to be reported during the past two weeks, despite being right in the midst of the summer holiday season. We started to see a good flow of interest emerge amongst owners, while this ...

Read More »

Container shipping: Solid demand growth reduces spot rate volatility

Demand As freight rates are coming back from the abyss, their actual rise seems to be magnified beyond their actual performance. Some container spot freight rates are up more than 100% from the very low levels of last year, but may still be at a loss-making level now and so spot rates are not the best indicator for market profitability. The broad-scoped China Containerized Freight Index (CCFI) offers a solid and alternative indication. The CCFI composite hit an all-time low at 632.36 on 29 April 2016. By 11 August 2017, ...

Read More »

EU MRV Regulation Entering Next Phase

The European Union MRV Regulation requires shipowners and operators to monitor, report and verify CO2 emissions from their vessels calling at EU ports. Two important milestones in its implementation are coming soon. Adopted in 2015, the regulation concerns CO2 emissions released for voyages that either start or end in the port of an EU Member State, voyages between EU ports and periods at berth in EU ports. This also includes ports in the EEA countries, namely Iceland and Norway. It applies to ships above 5,000 GT regardless of Flag State. ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping