TradeWinds | Latest shipping and maritime news

Remember February 2009? That’s the last time tanker S&P indices were this high Tanker owners could consider period coverage as market remains risky, Gibson says Capesize and panamax bulkers tread water in ‘lethargic’ Pacific basin Grimaldi adds to tally of ro-ro orders with Chinese shipyard Performance Shipping continues shopping spree with eighth aframax tanker Greek tug operators fined €4.36m in wide-ranging cartel probe Carnival further narrows losses as it relaxes Covid-19 rules but still misses estimates Chemgas confirms deal for LPG carrier quartet amid expansion drive ‘Happy marriage’: Navigator expands again with $233m Greater Bay ethylene fleet deal How the women who run ASBA Miami narrowly avoided strike three

Ship values

Remember February 2009? That’s the last time tanker S&P indices were this high

Analysis

Tanker owners could consider period coverage as market remains risky, Gibson says

Costas Fostiropoulos, who shifted family business from cars to ships, dies aged 78

Weekly

Boxship markets fall, dry bulk S&P frenzy and war fuels carbon fight

Chemgas confirms deal for LPG carrier quartet amid expansion drive

BP pays top dollar to snare CoolCo LNG carrier as market burns

How the women who run ASBA Miami narrowly avoided strike three

Glencore dragged into another bad bunkers dispute by Greek owner

‘Happy marriage’: Navigator expands again with $233m ethylene fleet deal

Mystery aframax and GSL container ship crunched in Malaysian crash

Nordea headhunts Fearnley Securities’ analyst to spearhead shipping drive

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ESG

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Global Maritime Forum

Global Maritime Forum: How to distribute carbon funds poses a puzzle for the IMO

Viewpoint

Port and supply chain congestion puts carbon savings in holding pattern

Norway’s Hoegh Autoliners offers 100% biofuel on runs from Amsterdam

Maersk Mc-Kinney Moller Center says green fuel conversion for container ships can add 33% capex cost

Slideshow

Women in Norwegian shipping say what they really think about workplace diversity

Comment

All eyes now turn on the IMO to close the carbon fuel price gap

Cargill’s Jan Dieleman declares his ‘love’ for shipping and an ‘allergy to greenwashing’

Energy transition should be embraced together, says MISC’s Yee Yang Chien

Bidding open: UK reveals new £60m pot for clean shipping initiatives

‘Very few’ charterers are buying into the Bimco carbon trading clause as deadline looms

Green Seas: ‘We need to have IMO on board’ with carbon ambition, shipping leaders say

Tiptree product tanker detained in ‘magic pipe’ pollution probe

First Chinese wind sail fitted VLCC launched at Dalian

TotalEnergies sees two-stage scenario for marine decarbonisation

Drafting a CII time-charter clause is a balancing act, says Bimco, as New Year deadline looms

Viewpoint

LNG may not be a silver bullet but it doesn’t have to be dirty

Credible green plans lacking to solve existential crisis, Asian ship executives say

Saverys family’s CMB.Tech orders six hydrogen wind farm support ships

IMO’s carbon intensity rules would remove 15 VLCC-equivalents from today’s fleet, says VesselsValue

With Chevron and Crowley onboard, ZEI aims to take the ‘magic’ out of hydrogen-fuelled shipping

Spot market

Capesize and panamax bulkers tread water in ‘lethargic’ Pacific basin

Grimaldi adds to tally of ro-ro orders with Chinese shipyard

Performance Shipping continues shopping spree with eighth aframax tanker

Sentek Marine charged over theft of Shell marine gasoil worth $56m

Greek tug operators fined €4.36m in wide-ranging cartel probe

Cruise and Ferry

Carnival further narrows losses as it relaxes Covid-19 rules but still misses estimates

How to distribute carbon levy funds poses a puzzle for the IMO

Editor’s selection

Emissions trading pleas ignored, booming LNG rates and Tiptree’s ‘magic pipe’ probe

Insight & Opinion

Newsletter

Streetwise: Will owners using cash for impressive debt repayment soon have another priority?

‘Demand unlock’: Analyst ‘significantly more positive’ on Carnival Corp as pandemic rules go away

Spot rates

After frantic September, crude tanker market cools off

Green Seas: ‘We need to have IMO on board’ with carbon ambition, shipping leaders say

IMO’s carbon intensity rules would remove 15 VLCC-equivalents from today’s fleet, says VesselsValue

Boss of trading giant Vitol says European LNG infrastructure ‘basically full’

Russia grabs growing share of ‘dark fleet’ at Iran’s expense, says Braemar

Dry bulk S&P thaws as sellers price ships ‘more realistically’

China to the rescue: Clarksons raises 2024 VLCC rate forecast to $90,000 per day

Ukraine and state of global economy to dictate strength of VLCC rally, says Poten

Crude tanker rates cool off, while Atlantic MRs ride a roller coaster

Catching a falling knife: how low will container markets go?

Comment

Troim’s anti-ESG stand-up act would make Elon Musk proud

Product tankers cool off with ‘frustrating’ week for LR1 owners and LR2 charterers holding back

Streetwise: Tanker investors have cleaned up in 2022, but is the game over or just in early innings?

US price cap rules for shipping: ‘Perhaps the most complex sanctions regime I have ever seen’

Realism, not hit and hope greenwash, now needed on climate action

Capesize bulker spot market may just meet operating costs until end of 2025, analysts say

Container markets: Don’t panic! It’s a correction, not freefall

Clarksons identifies ‘tiered’ market as ships steam 20% slower since financial crash

Iran: US sanctions fresh shipping names in crackdown on trading networks

Slideshow

Women in Norwegian shipping say what they really think about diversity

‘Mission accomplished’ for MISC’s leader Yee Yang Chien

Out-of-class veteran VLCC Viki changes hands for $29.5m

Sanctioned Russian shipbuilder USC clinches cruise ship orders

Yee Yang Chien: Leaving MISC is like leaving home

LNG

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Northern Lights lines up next two larger LCO2 carrier newbuildings

LNG carrier rates could top $500,000 per day this winter in a super-tight market

New York-listed Dynagas LNG Partners dry docks half its fleet amid rising profit

CoolCo’s Tyrrell unveils growth strategy for LNG and beyond

Three owners poised to sign eight fresh LNG orders against Qatari contracts

First incoming German FSRU identified as terminal action speeds up

Yangzijiang shares rally as yard edges closer to LNG newbuild capability

Gastech

Gastech: ‘Gassing’ in Milan gets loud as US LNG producers take centre stage

Japan’s MOL inks charter contract for LNG carrier trio in China

Seven big names team up on methane abatement for LNG in shipping

DSME and SHI ink swathe of LNG orders for Qatar and ExxonMobil

New LNG carrier design floated offering 18% CO2 emissions cut

George Procopiou strikes sale-and-leaseback deal for three LNG carrier newbuilds

Cost-cutting: Flex LNG commercial chief Marius Foss doubles up at Avance Gas

CoolCo sees hot prospects for upcoming two open LNG carriers

Shipowners eye up lone Sinokor LNG carrier newbuilding as market tightens

Capital Product Partners nets rate rises and hire extensions on LNG duo

Beached bulker in stable condition off Gibraltar after collision with LNG carrier

Stifel’s Ben Nolan to Hoegh LNG Partners shareholders: Vote no on take-private deal

Golar LNG hedges forward FLNG production as European gas prices soar

Energy transition should be embraced together, says MISC’s Yee Yang Chien

Viewpoint

Port and supply chain congestion puts carbon savings in holding pattern

Tanker demand tipped to rise 6% in 2023 on Russian aggression, says Clarksons

UniCredit fights on in $24m Euronav tanker cargo fraud row

Decarbonisation

Norway’s Hoegh Autoliners offers 100% biofuel on runs from Amsterdam

Tankerska Plovidba to launch offer for MR tanker spin-off TNG

Business Focus

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Special report: Ukraine leaves insurers reeling

France’s SCOR builds sustainable marine insurance business

IUMI head Turner sees ESG progress as he prepares to step down

Amphitrite targets niche market for ‘singletons’ and non-IACS ships

Insurers urged to stand up for their Poseidon Principles

Charging forward: Moves to power ships by battery build steam in US

Cutting carbon capture costs remain key hurdle for greening shipping fuels

Could wind propel hydrogen-fuelled ships further? Marin wants to know

’Not going to be a thing’: Green energy finance expert blue about shipping hydrogen

Team-orientated Synnove Seglem takes reins at Knutsen on LNG

LNG carrier newbuilding demand set to roll on as prices climb higher

Capital Gas stacks up tempting array of open LNG newbuildings

Knutsen mulls options for its redelivering steamship quartet

How financiers stepped in when Pangaea Logistics had two ships and the client wanted four

Newsletter

Streetwise: Stars align for shipping’s alternative financiers

Special report: Energy worries shine spotlight on LNG shipping

NIBC Bank: a billion reasons to look after the small and medium-sized owner

With bank funding still on the wane, Hudson Structured toasts a ‘powerhouse’ alternative

Banker turned shipowner Andy Dacy sounds caution, but not on LNG

Shipping comes home to world’s top ownership nation

ExxonMobil ups its LNG order haul as it firms up seven newbuildings

Maersk Mc-Kinney Moller Center says green fuel conversion for container ships can add 33% capex cost

Ship Management

Columbia’s O’Neil says Saudi transformation plan has ‘global significance’

Germany’s Schulte Group follows aframax sales with further disposals as its tanker fleet shrinks

Comment

All eyes now turn on the IMO to close the carbon fuel price gap

Cargill’s Jan Dieleman declares his ‘love’ for shipping and an ‘allergy to greenwashing’

People

Garex chief executive Frederic Denefle appointed next IUMI president

‘Bashing the table for shipping’: UK minister’s new brief welcomed by industry

Crew change: Meet the new faces at Idwal, Foreship and ZF Marine

Trader Aline Vaz heads Monjasa push into Brazilian bunker market

ESL bemoans limited diversity as it welcomes first female master

MOL’s Hashimoto welcomes 23 recruits in changing times for giant owner

New blood brought in at Monjasa as eight trainees join

TotalEnergies Marine Fuels names Louise Tricoire as new VP

FSL Trust's CFO Wenker leaving to join Malaysian FPSO specialist

Former Grindrod boss Wade re-emerges at Lauritzen Bulkers

ESL Shipping promotes Frida Rowland and brings back broker Mark Olesen

Bengal Tiger Line roars at the 32nd annual BTL Singapore Golf Masters

Broker Charlie Hockless back in London to boost S&P at Fearnleys

Ukrainian seafarers free to leave war-torn country in drive to tackle grain backlog

‘Being a goldfish in a shark tank is not something we enjoy,’ says container start-up Carrier53

OSCAR dragon boat event returns to Docklands with a splash

Hearty winds propel 39th Peter Gast Regatta to the finish line

War risk specialist Frederic Denefle lined up to head IUMI

Per Roed launches Oslo office for hydrogen shipping start-up Provaris

New Grieg Green boss targets growth as ESG demands intensify

Fuel leak reported as Seacon tanker holed in clash with fishing vessel

‘We’re going after sanctions evaders,’ top EU official warns

Ship Management

Slideshow

Seafarers’ Trust photo competition winners capture the highs and lows of life at sea

International Seaways master tells of jail hell over ‘illegal’ Indonesian anchoring

Newsletter

Streetwise: Will owners using cash for impressive debt repayment soon have another priority?

AET teams with PTT to build green ammonia-fuelled aframax tankers

Boxships

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Container newbies confirm charter renegotiations as freight market heads south

Maersk asks US court to push $180m shipper complaint into arbitration

MSC’s plan to enter aviation business gets lift-off

MSC doubles down in ‘contractual’ dispute with US shipper

Seaspan Corp tears up $520m newbuilding contracts with warning of legal claim

Container newbies struggling to meet charter payments as rates tumble

Goldman Sachs cuts Global Ship Lease stake by 49% in a month

CMA CGM offloads final slice of Global Ship Lease 15 years after founding it

Maersk moves deeper on methanol with up to 20 container ship newbuilds

Container ship charter rates plunge 20% as default fears rise

Amid record profit, CMA CGM predicts falling shipping demand

Singapore PM Lee turns stevedore at opening of world’s largest fully automated container port

Captain fired by Maersk Line Ltd after ‘hazing’ suspension

‘Being a goldfish in a shark tank is not something we enjoy,’ says container start-up Carrier53

Maersk sells out of leading Russian terminal business Global Ports over Ukraine war

Seaspan lines up forward fixtures of a dozen 10,000-teu container ships

‘12 months too late’: Concordia conversion plan falls foul of global downturn

Seaspan container ship hit by fire shelters in Colombo

First half container ship scrapping at lowest level since 2008 says Clarksons

MSC expands into healthcare as part of $4.5bn takeover bid for Mediclinic

Stifel gives ‘buy’ rating to Genco on ‘opportunity to play a strengthening winter’

Russian oil price cap must heed shipping, Greece warns

Nordic American Tankers continues clearing vintage ships in latest sale

Analysis

Dry bulk market seems to ‘have found bottom’ as coal demand is poised to remain healthy

‘No major damage’ as Port of Tampa Bay avoids direct hit from Hurricane Ian

US industry groups denounce Jones Act waiver for tanker off Puerto Rico

Interview

People said nuclear plan was ‘mad’ — now they ‘think it’s clever’, says Core Power’s Mikal Boe

Semiramis Paliou is committed to protecting father’s legacy while moving Diana Shipping forward

Former Grieg Green head Petter Heier sets up shop as a creative cash buyer

Stars align for Shell’s shipping chief Karrie Trauth a year into top job

‘Back on track’: vindicated James Gundy clears decks for growth at shipbroker Braemar

Norden CEO: concerns over demand for oil and dry commodities if recession hits

Norwegian’s Del Rio: ‘If you want instant mashed potatoes, you got to go elsewhere’

‘We’re looking to grow on all fronts,’ says Case, as Clarksons flexes its muscles

New American Club chief wants to grow without losing ‘boutique’ identity

Cheilas to steer NRF Greece amid ‘deal frenzy’, ‘versatile’ times

Zacho ready to start ‘dream job come true’ as head of Navigator Holdings

New Clarksons digitalisation chief Schroder looking to expand his team

Shipping on green course but needs help to get there, Kaptanoglu says

More back-door IPOs are coming like it or not, says Maxim Group’s deal maestro

Swedish Club head Lars Rhodin upbeat as he prepares to bow out

For Angeliki Frangou’s Navios, newfound resiliency opens door to fresh opportunities

Navios Partners corporate governance of the ‘highest standard’, Frangou says

Being present at Navios’ office throughout the pandemic: ‘You have to give comfort’

Amid questions over dividend, Frangou keeps focus on ‘total return’

For Angeliki Frangou, inefficiency is the one certainty in shipping’s outlook

Wavelength

Are shipping’s firebrands truth-tellers or destructive dinosaurs?

Braemar eyes profit jump after ‘significantly’ higher trading

Hugh Titcomb named next Thomas Miller chief executive

Update

Navigating stormy times, Vogel brings sunny message to Miami ASBA conference

Subsea 7 charters string of Jones Act offshore vessels for Gulf of Mexico work

Ukraine crisis

Fresh hope for the next generation of Ukrainian seafarers

Offshore

Adnoc ‘in talks’ to create shipping and chartering giant with Gunvor deal

Italian owner Prysmian scoops wind cable deals worth $800m

The wind up: Eneti reloads $50m shares buyback authorisation

Eidesvik sees SOV rates at record levels as demand beats supply

‘Something special’: Bjorn Kristian Roed to exit Odfjell for wind challenge at Havfram

Clarksons: offshore ship recovery ‘entrenched’ as rates hit seven-year high

Singapore’s Keppel Corp suffers third yard fatality in under six months

Marco Polo Marine sees threefold increase in gross profit during latest quarter

Eneti takes in $83m through sale of entire stakeholding in sister Scorpio Tankers

Singapore’s Sembcorp Marine cuts first-half losses by almost 80%

Tidewater expecting rich day rates as offshore market begins to pick up

Eneti mulls sale of vessel trio to ‘capture the spread’ between asset values and shares

Teekay Corp sells last FPSO amid the hunt for new opportunities

Singapore’s Keppel chases Petrobras FPSO contracts worth $5.8bn

Maersk Supply sells two laid-up AHTS ships with rates riding high

Solstad Offshore sells again as it fixes trio of construction ships

BP in hot water over FPSO scrapping plan in Scotland

Offshore recovery: Standard Supply reveals term PSV deal at $30,000 per day

Danish owner NKT moves closer to $305m wind farm contract

Ostensjo providing ships as Norway demolishes Arctic mining camp

D’Amico clinches $54m refinancing of MR fleet acquired from Glencore venture

‘Targeted’ Jones Act waiver allows Hayfin tanker to dock in hurricane-hit Puerto Rico

Petrobras back at Singapore’s Keppel for second $2.8bn FPSO

Tight LNG carrier market set to roll on through 2026 despite any fleet underutilisation

New Saudi yard launches heavy-hitting maritime fund to expand

Carbon capture

Northern Lights lines up next two larger LCO2 carrier newbuildings

Insurance

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IUMI conference comes to terms with insurers’ growing war risk

Poseidon players seek course — or separate courses — to more ambitious carbon target

Skuld turns around losses as underwriting results improve

Swedish Club turns around underwriting losses

War risk specialist Frederic Denefle lined up to head IUMI

Insurers and unions face pressure to respond as piracy high-risk area ends

Trailblazer Ioannou sets out her vision as she takes the helm of the American Club

New American Club chief wants to grow without losing ‘boutique’ identity

War risk: Insurers start to quote on Ukraine grain shipments

Insurer warns ‘safety affected’ by military exercises off Taiwan

Insurer Hiscox to join Lloyd’s insurance facility for Ukraine

UK dodges global insurance ban on Russian oil to keep cargo moving

Broker Aon sees financial pressures easing on P&I clubs

Insurers have an ‘appetite’ to cover Ukraine grain exports

Insurers preparing to step in to support Ukrainian grain exports

Insurance for Ukraine grain exports to come ‘at a reasonable price’

Swedish Club sets August date for new office opening in Singapore

Allianz warns inflation could leave ships underinsured

Insurers calm on Ukraine total loss claims despite looming deadline

Insurer SCOR turns to data to improve its marine business

Monjasa reveals five ways the Ukraine war is redrawing bunker markets

Bidding open: UK reveals new £60m pot for clean shipping initiatives

Charterer in $2m court fight over Russian oligarch sanctions

Bulk carrier wreck continues to leak oil off Gibraltar

Tiptree product tanker detained in ‘magic pipe’ pollution probe

Seismic survey merger goes ahead as TGS wins 75% of owner Magseis Fairfield

Jobs

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