Home / Tag Archives: Tops (page 7)

Tag Archives: Tops

Tanker Charters a Very Complex Affair

On the back of the past couple of months’ turmoil in the Gulf Arab region, fixing a tanker on a charter basis is no easy task. In its latest weekly report, shipbroker Intermodal commented that “on the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of Norway. A month later a second attack took place, involving 2 tankers passing near the straits of Hormuz. The above incidents were followed by the detention of an Iranian VLCC ...

Read More »

Panamax owners rejoice as India’s coal imports surge

The recent firmness in India’s coal imports, which has been the main reason for increased rates in the Panamax market, is likely to continue as the Indian government’s plan to invest heavily in infrastructure will underpin domestic coal demand. Panamax rates have skyrocketed in 2019 and are likely to rise in the coming quarters supported by strong demand for coal imports in India. The demand for electricity in India is expected to expand at an increasing pace over the next five years. Even though the share of renewables and gas-fired ...

Read More »

Perfect combination

“It’s all about doing things faster and more efficiently, but still doing them well,” says Stener Olav Stenersen, Head of Services at the DNV GL Maritime Operational Centre in Høvik. Sending a surveyor to a vessel site costs time and money, and waiting time impacts the vessel’s operational availability. With travel time eliminated and waiting times reduced, remote surveys can conclude faster than traditional surveys, and the results can be shared immediately through DNV GL’s electronic certificate and documentation system. The right expertise at the right time Another advantage of ...

Read More »

Ship Recycling Market on Further Downward Slump

The demolition market has remained on a downward path this week, with recyclers offers declining and ship owners refraining from more deals. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “the mood in the market slipped further this week as the depressive state continued with domestic price levels in the Indian sub. Continent showing no signs of a reversal. There appears to be a total lack of confidence from the actual recyclers with the appetite from India remaining relatively damp, and Bangladesh showing no willingness to offer ...

Read More »

Dorian LPG: “Older VLGC Tonnage to Exit the Market, On High Cost of Retrofitting”

Dorian LPG Ltd., a leading owner and operator of modern very large gas carriers (“VLGCs”), yesterday reported its financial results for the three months ended June 30, 2019. Highlights for the First Quarter Fiscal Year 2020 • Revenues of $61.2 million and Daily Time Charter Equivalent (“TCE”)(1) rate for our fleet of $29,671 for the three months ended June 30, 2019, compared to revenues of $27.6 million and TCE rate of $16,553 for the three months ended June 30, 2018. • Net income of $6.1 million, or $0.11 earnings per ...

Read More »

Container ports: the fastest, the busiest, and the best connected

Known as the “humble heroes” of globalization, containers are handled in hundreds of millions at container ports worldwide annually. Efficient and well-connected container ports enabled by frequent and regular shipping services are key to minimizing trade costs, including transport costs, linking supply chains and supporting international trade. Thus, port performance is a critical factor that can shape countries’ trade competitiveness. Every hour of port time saved by ships translates into savings in port infrastructure expenditure for ports, ship capital costs for carriers, and inventory holding outlays for shippers. Recognizing the ...

Read More »

Sudden Pick Up in Newbuilding Orders

Despite the expected summer lull, newbuilding ordering activity picked up over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that “rather surprisingly, we saw a considerable boost in the volume of new order placed on a w-o-w basis. The main driver behind this was the tanker sector, with plenty of fresh orders coming to light, mainly for the MR sector and generally for smaller size units. On the other hand, things were fairly quiet for the dry bulk sector, rather attuned at this ...

Read More »

Greek Shipping And Economy 2019: The Strategic and Economic Role of Greek Shipping

The global economy started in 2018 on a positive note but, as industrial production decelerated, trade slowed and business confidence fell, the momentum lost steam. Global growth, which peaked at close to 4% in 2017, moderated to 3.6% in 2018 and is projected to decline further to 3.3% in 2019. With improvements expected in the second half of 2019, global economic growth in 2020 is projected to return to 3.6%. Global trade growth decreased over the course of 2018 in volume terms, from 5.3% in 2017 to 3.8%. One reason ...

Read More »

Temporary Agreement for Strait of Hormuz issued by Warlike Operations Area Committee

Further to the club’s web alerts on 17 June and 22 July and news article on 19 July, the Warlike Operations Area Committee (WOAC) has temporarily designated the Strait of Hormuz as a high-risk area from 2 August. This follows the UK Government advice to UK-flagged ships to give it notice of any intention to pass through the Strait of Hormuz and to avoid the area unless accompanied by British naval support. The WOAC, comprised of the trade unions Nautilus International and RMT, and the UK Chamber of Shipping, decided ...

Read More »

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 ...

Read More »

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 ...

Read More »

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”) ...

Read More »

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 ...

Read More »

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 ...

Read More »

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 ...

Read More »

Recent Videos

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