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Tag Archives: Tops

Newbuilding Market Bound to Pick Up During Posidonia Week

The recent lull in newbuilding contracting activity has been notable, but also easily explained, given that many deals are on the making and usually formally announced during the Posidonia International Fair, which is about to kick off in Athens next week. In its latest weekly report, shipbroker Allied Shipbroking commented that it was “a very quiet newbuilding market this past week, with just a handful of new orders coming to light. Witnessing for a second consecutive week a considerable softening in overall activity, it looks as though interest may well ...

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Tanker Shipping: Added Uncertainty Is Not Helpful To The Struggling Tankers

Overview The impact of the sanctions against Iran and global stockpile levels are two factors to watch out for. Demand Just when you thought it could not get any worse for the tanker shipping industry, the US is re-imposing sanctions on Iran coming into force after a six months wind-down period ending on 4 November 2018. The immediate effects are less tangible but sure to add more uncertainty to the whole shipping industry that has plenty of uncertainty to deal with already. At the same time, freight rates for both ...

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A major milestone for Poseidon Med II work on regulatory framework: Presidential Decree for LNG Bunkering in Greece

Greek Minister of Shipping P. Kouroumplis presented the Presidential Decree containing safety provisions for LNG bunkering operations in Greece at a ceremony held yesterday at Greek Ministry of Shipping & Island Policy, bringing together key marine stakeholders, representatives from relevant authorities, Poseidon Med II partners and journalists. The Presidential Decree is the umbrella legislation, taking into account all national and international rules and practices, containing a set of provisions, such as safety & emergency procedures; Simultaneous Operations (SIMOPS); fire-fighting measurements; manuals overview for LNG bunkering preparation and execution; training and ...

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The Complexities of the IMO 2020 Sulphur Rule on Bunker Fuels

The latest environmental legislation on shipping and the looming 2020 rule on bunkers will be a central point of discussions which are expected to be held in Athens over the course of the next couple of weeks. In its latest weekly report, shipbroker Intermodal noted that “among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced on Jan 2020 and calls for ships to reduce the maximum sulphur content of their fuels to 0.5 percent, will definitely be on ...

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BW LPG Looks to Acquire Hadjipateras-led Dorian LPG in a Deal Worth $1.1 Billion

BW LPG Limited announced a proposal to combine with Dorian LPG Ltd. in an all-stock transaction. Dorian shareholders would receive 2.05 BW LPG shares for each Dorian share. Pursuant to the proposed transaction, BW LPG intends to dual-list on the New York Stock Exchange (“NYSE”) such that Dorian shareholders would receive at closing NYSE listed BW LPG shares, representing in the aggregate 45% of the combined company at the completion of the transaction. The proposal is supported by BW Group, which owns 14.2% of Dorian and approximately 45% of BW ...

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Eight benefits of managed services in the maritime industry

Thriving in today’s competitive cruise industry is tough so why go it alone? Be free to focus on the big picture while others worry about the everyday complexities of managing systems. Lee Clarke of Dynama presents the case for working with a specialist managed service provider (MSP) to support IT systems at sea. You only have to watch the TV ads to grasp the popularity of cruise holidays. From large, luxury ocean-liners carrying whole cities of passengers to the more intimate surroundings of specialist small luxury ships – everyone appears ...

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Chemical Shipping: A Growth Story Worth Taking a Look At

While the crude tanker segment is for yet another year in the doldrums, other wet segments are faring better. One such example is the the chemical tanker market, with the world’s liquid chemical seaborne trade growing at an exceptionally impressive 7% to 196 million tons in 2017. In a recent note, ShipFocus, said that “this compares to an average 5-year growth of just over 2% or a 10-year growth of 3%. We expect world’s volume to grow more moderately but still above average at about 4% this year. So, who ...

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Hints of Higher Russian Oil Production Could Boost Aframaxes

Russian crude oil exports are a critical piece of ton mile demand for the Aframax markets, and also contribut to Suezmax utilisation. The overall trend was for higher ton mile demand through the middle of 2017, but these numbers have fallen from their peaks, and the export volumes have fallen in the first quarter of 2018. Most of the cuts have come from the Russian export locations in the Baltic. Only smaller ports in the Tartary Strait have seen an uptick in the first quarter of 2018, but even Pacific ...

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Blockchain can have a transformative effect on the shipping industry

Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscielecki explains how the technology can be hugely beneficial for the shipping sector: “Blockchain is the new buzzword in the shipping industry that is increasingly difficult to get away from. Many within the sector, however, are still wondering what blockchain technology is and how it works. Blockchain explained “Blockchain is essentially an online communication protocol allowing users who are interdependent to participate in a transaction, without any one user having more control over ...

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Tanker Market: Is Mexico’s Oil Industry Shakeup a Factor?

In its latest weekly report, shipbroker Gibson said that “Mexico’s energy sector could be radically overhauled if the current frontrunner in the July elections wins office. Candidate Andres Obrador has indicated that major reforms will take place should his party take office. Information published by Reuters stated that Obrador is opposed to sending crude oil abroad. The report goes on to say that he would try to put an end to all crude oil exports within three years of coming into office, focusing instead on refined products. Obrador’s energy adviser ...

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Are Banks Back into Shipping Finance? The outlook for 2018 and beyond

2017 was a year in which market sentiment, especially in the dry market, showed some improvement. In addition, global economic growth and international trade continued to grow at a robust pace approaching 4% p.a. overall. With the slowdown in new vessel deliveries across a number of sectors, the improved sentiment allowed for some cautious optimism among banks. For a small number of banks, it presented the opportunity to continue their growth and increase market share, whilst for others the opportunity to reduce or sell large parts of their loan portfolios. ...

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Dry Bulk Market: Capesize Market on Retreat Mode

Capesize A depressing time for the big ships as rates eased across the board, with the Atlantic particularly short of cargo, while levels in the East fell despite active fixing from West Australia. The lack of Brazil cargo continued to have a major impact on the market, with at least 40 ships in ballast from now until the end of June and Vale reportedly now covered for June. This in turn has led to some owners/operators preferring to stay in the East, and here, rates were chased lower. As the ...

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Overwhelming Tanker Orderbook Is Pushing Some Owners To Retire Ships Well Below 20 Years of Age

In its latest weekly report, shipbroker Allied Shipbroking said that “one thing that can be said with certainty is that 2018 is all but what can be described as a stellar year for the tanker market, given the turmoil it has faced during these past five months and the repeated inability to show an ability to sustain itself on a stable track. Given that VLCCs are often considered as the flagship size segment for the crude oil market, it is notable to point out that they their TCE earnings eased ...

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Hellas: Shipping Industry’s Loan Exposure Falls by 5.62% to $54 billion Says Petrofin Bank Research

Petrofin Bank Research presents, for the 17th year running, an overview and an in-depth analysis of the bank loan portfolios to Greek shipping, as of 31st December 2017. Petrofin wish to thank all participating banks for their steadfast support, without which this research would not have been possible. The portfolios show both the shipping loans outstanding, as well as loans committed but undrawn. The committed but undrawn loans may be viewed as an indication of each bank’s ship lending momentum and / or the extent of its involvement in newbuilding ...

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Olefin trade not helping LPG shipowners

The freight market for S/R (Handysize) vessels will remain under pressure throughout 2018 on account of strong fleet growth and weak olefin trade, according to the latest edition of the LPG Forecaster published by global shipping consultancy Drewry. The market has been under pressure since 2017, but olefin trade growth has averaged 3.1% annually over 2012-17, down from 4.0% during 2007-12. Although s/r vessels can also carry LPG, the market is oversupplied with bigger f/r vessels and there is limited employment opportunity in this trade for Handysizes. There are several ...

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