Home / Tag Archives: Tops (page 3)

Tag Archives: Tops

Ship Finance Expected to Rise Once Again, After Years of Contraction

Bank shipfinance for Greek shipping slowed down its contraction to a rate of -1.52% during 2018 from -5.62% in 2017 and -8.77% during 2016. The overall Greek loans (both drawn and committed but undrawn) booked both in Greece and worldwide as of 31/12/2018 fell to $53,176.32 from $53,994.96 in 2017 and $57,211.35m in 2016, said Petrofin Bank Research in its latest annual report. Greek banks continue the upward trend that started in 2017 and their portfolios are up by 8.03%. Eurobank is leading in terms of rate of growth with ...

Read More »

Tanker Shipping: While we wait for 2020 to kick in, it’s all about politics

Demand drivers and freight rates Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the same time, US exports of crude oil are growing fast because of pricing and politics. “We have mobilised all of the country’s resources and are selling oil in the ‘grey market’,” Iran’s deputy oil minister Amir Hossein Zamaninia is quoted as saying by state news agency IRNA, according to Reuters. Among the main official buyers left, the main ones are China, India and Turkey. BIMCO doesn’t expect that crude ...

Read More »

Muffling the rumble

In recent years, noise emitted by ships has become a prioritized environmental concern for sea ports. Tightening regulations reflect increasing public awareness of the health effects of noise and an international trend towards developing housing projects in waterfront areas, including port vicinities. “Ships are in many ways the most challenging noise source in ports,” knows Åshild Bergh, Senior Principal Engineer, Noise & Vibration at DNV GL. “Firstly, the technical and acoustic characteristics of ship noise make it problematic. As a rule, ships run their auxiliary engines to produce the electricity ...

Read More »

Tankers: Ships’ Values Expected to Trend Higher

The market for tankers is expected to trend higher moving forward, according to experts. In its latest weekly report, shipbroker Intermodal said that “this year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, ranging from MRs to VLs, changing hands, an increase of around 21% compared to the same period last year. After a strong start in the first quarter, the freight market went through a significant softening particularly in the case of the crude carriers ...

Read More »

Dry Bulk: A Struggling Market Gets All Hyped Up By Capesize Volatility

Fleet growth expected to outstrip demand growth in 2019 and 2020, making the near future look unappealing. Demand drivers and freight rates It’s been a rollercoaster ride for the dry bulk market in 2019. The market fell from slightly profitable levels in the first week of January, to hit loss-making lows during February, March and April that almost touched the all-time lows seen in early 2016. The Handysize, Supramax and Panamax segments all started to climb again after Chinese New Year in mid-February, but the Capesize sector lost all buoyancy. ...

Read More »

IMO 2020 – Countdown to 1 January 2020 -How will the changes affect refining and shipping?

We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt throughout the value chain. But there are still a number of things we don’t know. Various options are available to shippers in order to comply and the marine fuels mix is set to change significantly. Switching to marine gasoil is easy, but it’s also the most expensive option. What alternative fuels do we expect will be the most popular as HSFO is phased out? In this webinar, ...

Read More »

Dry Bulk Fleet Utilization Down By 3.7% During First Quarter of 2019

The negative impact of the lack of cargoes in the dry bulk market since the start of the year took its toll in the level of the global fleet’s utilization rate, which declined by 3.7% over the course of the first three months of 2019. According to a recent analysis by dry bulk ship owner, Golden Ocean, “global dry bulk fleet utilization (calculated as total demand in tonne miles transported divided by total available fleet capacity) dropped by 3.7% in the first quarter of 2019, reflecting the trend observed in ...

Read More »

Autonomous shipping makes waves

Progress continues to be made with smaller vessels and in coastal waters but, as problems with container ships have shown, innovation and technology is not a panacea if the root cause of incidents and losses is not addressed. In December 2018, Rolls-Royce demonstrated what it claims is the world’s first fully autonomous ferry on a trip between Parainen and Nauvo in Finland [1]. The UK-based engineering group plans to bring self-guided cargo ships to the world’s seas by 2025. Three months later, in March 2019, a series of autonomous operations ...

Read More »

A Clean Marine Future on the Horizon

As the hoi polloi of the shipping industries descend upon Oslo for Nor-Shipping 2019, Wärtsilä has kickstarted the week with a Future Innovation Day – Horizons event on Day Zero to get the creative juices flowing. Hailed as a gathering of sharp minds the event sees maritime stalwarts, governmental institutions, students and civil society riffing together to formulate futuristic yet pragmatic ways of transitioning to green shipping. Bill Hemmings, Director, Aviation and Shipping, Transport and Environment, Hans-Petter Nesse, Managing Director Wärtsilä Norway, and Tamara de Gruyter, Vice President, Marine Business, ...

Read More »

Tankers Are Facing the Trade War “Music”

The tanker is always vulnerable to geopolitical shifts, but owners will now have to contend with the “drums of trade war” coming from the US and directed towards China. In its latest weekly report, shipbroker Gibson said that “China officially increased tariffs up to 25% on $60 billion of US products from 1st June, following the US decision to increase tariffs on $200bn/year of imports from China to 25% from 10th May. Chinese imports of nearly every US energy commodity now face a tax of up to 25%. Crude is ...

Read More »

Dry Bulk Market: Capesizes on Steady Mode

Capesize The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breaking with the recent boom bust volatility. Owners appear to be less inclined to overplay their hand, while taking the smaller improvements as they come, in what appears to be a sustainable market. The Cape 5TC opened the week at $12,987 and closed out Friday at $15,007. The West Australia C5 route opened the week at $7.223 to close at $7.732, with timecharter rates in the ...

Read More »

Consecutive owners of cargo: who holds title and the right to sue?

In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of the time bar under the Amended Hague Visby Rules and the entitlements of the consecutive owners of cargo under a bill of lading to claim against the ship’s owners. On 18 December 2011 the MV Ikan Jahan (ship) ran aground whilst on route from Newcastle, Australia to Tuticorin, India. The sea conditions were described as poor with rain and fog. It grounded on Manuk Island during passage through the Banda ...

Read More »

Shipping Industry Hopes for a Trade War Truce Before “It’s Too Late”

The recent one-year anniversary of the US-China trade war is nothing to celebrate for. In fact, ongoing friction is now openly threatening the global economy, with many analysts (most recently the IMF) now openly warning about a looming global recession. This of course is bad news for the shipping industry. In a recent note, shipbroker Intermodal said that “as of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Iranian oil to continue their imports. China is the world’s No1 oil importer ...

Read More »

Good anchoring practice

Anchoring loss prevention Anchoring is a critical operation on vessels. Shipping companies, port authorities and P&I Clubs value the safety of anchoring, which can be affected by the wrong anchoring operations and the increased traffic of ships as well as undesirable weather conditions. Club statistics shows that the direct claims relating to anchor account for up to 8% of navigation related claims. An improper anchoring could cause damage and loss to the vessel, other vessels, property and the environment. The consequential losses of grounding and collision due to anchor dragging ...

Read More »

Access of foreign-flagged vessels to Russia: cabotage permits

Any vessel flying a non-Russian flag is not allowed to enter Russian territorial waters by default. The access is granted only to vessels under Russian flag with no restrictions. At the same time, many international companies are interested in participating in dredging, carriage, oil and gas industry projects without a long-term flag change. Russia’s Federal Agency of Maritime and River Transport (the “FAMRT”) therefore is authorized to review applications of shipowners for issuance of cabotage permits. These permits allow for involvement of foreign-flagged vessels in carriage of goods and performance ...

Read More »

Recent Videos

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