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Tag Archives: Tops

Ship Owner Optimistic About Tanker Market Recovery

With the first half of 2019 plagued by increased net tanker fleet growth and a higher than expected refinery maintenance, things weren’t going to be all that rosy for tanker owners. However, ship owner Teekay Tanker remains optimistic on the future. The ship owner said in a recent analysis that “crude tanker spot rates declined during the second quarter of 2019 compared to the first quarter of 2019 primarily due to seasonal factors, as well as some near-term headwinds which have continued into the beginning of the third quarter. Lower ...

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Reinventing the wheel

Judged by the numbers, container shipping and liquefied natural gas (LNG) is something like a love-hate relationship: The total number of LNG-fuelled ships on order, ready for conversion or already operating add up to 93 container vessels — that’s more than any other ship type (see chart). Focusing on the number of LNG-powered ships at sea, however, container shipping is far behind. Enthusiastic about the opportunities For Captain Richard von Berlepsch, Managing Director Fleet Management at Hapag-Lloyd, investments in LNG are not a question of love and hate, but about ...

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China: Cargo Delivery By Port Authority – Dilemma Resolved

Liaoning High Court recently issued a judgment ending a six-year legal battle over a consignment of iron ore stored in Dalian Port. The judgment addressed a tricky issue: where the warehouse receipt holder is different from the bill of lading holder, and both parties claim delivery of the cargo from the port authority, which party’s rights prevail, and, accordingly, to whom should the port authority deliver the cargo? Sinochem International Corporation (“Sinochem China”) v Dalian Port Corporation Limited (“Dalian Port”) & Third Party China Railway Materials Harbin Co. Ltd (“CRM”) ...

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Tanker Market In a Tight Spot

The tanker market is in a perilous place, as the US/China trade war is alive and kicking and world oil demand growth is trending downwards. Product tankers could suffer more, given that a number of oil products are directly correlated to global economic activity. In its latest weekly report, shipbroker Gibson said that “historically, there has been a strong correlation between tanker spot and time charter rates, with period rates tracking (with some time lag) developments in the spot market. However, this year TC and spot values have moved in ...

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Dry Bulk Market: Capesizes on Correction Mode

Capesize Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. Currently the market is at a bit of a standoff, with a wide bid/offer spread. For the West Australia to China, route the rate seems to be hovering around $9.50 level and for Brazil loading region $22.00 level. A Point Lisas to Yantai cargo was covered at $27.00 basis loading end August. Less timecharters have been fixed, with the most recent being ...

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Investigating the effects of bridge alarms

As vessels and equipment on board become increasingly smarter, seafarers are required to learn additional skills for the ongoing operation and maintenance of this technology. The installation of additional and new technology on board should always be done with the intention of enhancing the seafarer’s ability to safely and efficiently navigate and operate the vessel. However, with more equipment comes the potential for more alarms. In 2017/2018 the Club ran a survey in conjunction with the Department of Psychology at Royal Holloway, University of London, to investigate whether alarms on ...

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Ship Owners Snapping up Bulkers

Ship owners around the world are snapping up bulkers, in an attempt to take advantage of the booming dry bulk market. In its latest weekly analysis, shipbroker Intermodal said that “it was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential buyers remains robust while there is no sign of values softening in the short term. In the Kamsarmax sector the BWTS fitted ‘NORD DESTINY’ (83,684dwt-blt ‘08, Japan) is reported sold at low $14.0m to Greek ...

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WTO: ambiguous fortunes for trade

Sustained GDP growth could give world trade a lift this year, yet it remains to be seen whether this boost will endure, warns the World Trade Organization (WTO). According to the body, mid-last year, economic growth slowed more than anticipated, causing central banks and governments to take up more expansionary monetary and fiscal policies. This seems to have delivered a GDP increase to major economies in the first quarter of 2019, but there are no guarantees this will be maintained. Tensions remain key The comments are taken from the WTO’s ...

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Notice of readiness and the commencement of laytime

The tender of a valid notice of readiness and the subsequent commencement of laytime has been a fertile area of debate in the English courts and given the financial consequences, will no doubt continue to be litigated. If a notice is required but none is given then strictly, laytime will not start to run. Arbitrators may, however, take a more commercial view and decide on the facts that the charterers were aware or ought to have been aware that the vessel was ready to load and knew that loading was ...

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Demolition Activity Below Par on Summer Lull

Another week, another sub par ship recycling activity in the market. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the tropical and hot climate that has been experienced across Europe this week has further reminded everyone of the summer mood that we are experiencing in the market. The lack of tonnage supply to the market has resulted in little negotiating activity and thus, making it difficult to gauge where any ship value lies. It would appear, however, that Owners are not losing anything by not considering the ...

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Handy Bulker Values to Rise Over 30% by End of 2020: Quarterly Forecast for Cargo Vessels

We have partnered with Oslo based shipping consultancy firm ViaMar to provide Forecasted Market values for each individual vessel in the Tanker, Bulker, Container and LPG fleet. Forecasted Market Values are quarterly forecasts for individual vessels provided until the end of their predicted economic life. Overall The US China trade war is still on, but how negative its impact will be on global economic growth and shipping remains to be seen. With the Brazilian mine accident and the current geopolitical events unfolding, it is likely that total ordering activity will ...

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Shuttle tankers in Brazil

Brazil has replaced the North Sea as the biggest market for shuttle tanker operations. Naturally a good reason for DNV GL to invite the major players to DNV GL’s shuttle tanker workshop to share experiences and take a closer look at the market as well as new developments and technologies that can be adapted from other markets, such as the North Sea. Jonas Mattos, Business Development Manager at DNV GL South America, explains the background: “These gatherings are important for us as we get all relevant stakeholders together to learn ...

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Dry Bulk Market Rebound To Face Further Challenges Moving Forward

The threat of a further growth in the dry bulk fleet’s numbers is posing challenges in the sustainability of the dry bulk market’s recent recovery. In fact, the market could use yet another rally until the end of the year, analysts say, just to fall in line with the performance recorded during 2017 and 2018. In its latest weekly report, shipbroker Allied Shipbroking said that “undoubtedly the dry bulk market has recovered with an emphatic way. As we have already mentioned in previous weeks, this rather “noisy” comeback has been ...

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The bunker balance – owners consider liquefied natural gas in advance of 2020

Using liquefied natural gas (LNG) rather than fuel oil is one of a range of options available to owners seeking to comply with the International Maritime Organisation’s 2020 regulations (IMO 2020). Given that shipbrokers have long predicted the emergence of a two-tier shipping market with ‘greener’ ships commanding a premium over older, less eco-friendly vessels, what is the future for LNG bunkering and what challenges does it present? LNG bunkering – a solution to IMO 2020 problems? The shipping trade press (and lawyers) initially took a somewhat pessimistic view of ...

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Ardmore Shipping Corporation Expects 5% Rise in Product Tanker Demand In the Next Few Months

Ardmore Shipping Corporation announced results for the three and six months ended June 30, 2019. Highlights and Recent Activity – Reported a net loss from continuing operations (see Non-GAAP Measures section) of $3.4 million for the three months ended June 30, 2019, or $0.10 net loss from continuing operations per basic and diluted share, as compared to a net loss from continuing operations of $8.2 million, or $0.25 net loss from continuing operations per basic and diluted share, for the three months ended June 30, 2018. Reported a GAAP net ...

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