TradeWinds | Latest shipping and maritime news

Video purportedly shows missile attacks on stranded ships in Ukraine Al Seer Marine hails ‘astounding’ profit after shipping breakthrough Navios sells older bulk carriers in an ‘all bets are on’ market Being a private shipowner means no one sees me coming, says Zenith’s Sophocles Zoullas Bullish Fearnleys’ analysts tip lucrative multi-sector upcycle Klaveness says it’s time for shipping to give something back after Red Cross donation Ocean Network Express slashes forecast after profits plunge Eneos plans to ship hydrogen carrier MCH on tankers from Australia Seafarers found hashish shipment on container ship in Greenland Corrupt brother jailed over oil services contract bribes

Slideshow

Bullish Fearnleys’ analysts tip lucrative multi-sector upcycle

Navios sells older bulk carriers in an ‘all bets are on’ market

Al Seer Marine hails ‘astounding’ profit after shipping breakthrough

Interview

Being a private shipowner means no one sees me coming, says Zenith’s Zoullas

Braemar warns product boom could turn into ‘damp squib’

Video purportedly shows missile attacks on stranded ships in Ukraine

Hapag-Lloyd closes the year with profit of more than $20bn

Saverys’ CMB.Tech and WinGD to develop first ammonia engines for newcastlemax fleet

Cruise and Ferry

World’s oldest cruise ship sold for recycling as 75-year career ends

First Greek shipowner joins decarbonisation research outfit

Ocean Network Express slashes forecast after profits plunge

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Insight & Opinion

Wavelength

The ‘dark fleet’ is an accident waiting to happen. Here’s why

Dig for victory: why excavator sales in China may signal capesize rally

Wavelength

Shipping steams ahead on fairy dust from the Magic Mountain

Streetwise: Why investing is getting ‘sticky’ at the bottom of a dry bulk trough

Comment

US ‘cakeism’, the Kremlin and the lure of rich rewards

VLGC prospects bright as Panama Canal congestion set to increase, Fearnleys says

Dry bulk spot rates sink but futures point to bigger rebound after Chinese New Year

‘The Covid trade is over’: Rates across key bulker segments fall to 2.5-year low

Fredriksen lights bonfire of the vanities as Euronav deal fails

Streetwise: Ireland’s Ardmore and the tanker group led 2022 stock gains

Flags that let owners flout their own laws should feel the consequences

Robert Bugbee: Investors ‘wrong’ to correlate VLCC weakness with product tanker outlook

Star Bulk expects ‘extremely weak’ supramax market to recover after Chinese New Year

Editor’s selection: Euronav ‘must keep shipping oil’; Greeks return to Russia crude; Lone LNG carrier sent for scrap in 2022

Comment

How shipping leaders would tackle real problems with a pile of fake money

Viewpoint

Employers are undermining talks with workers at the UN’s negotiating table

Green Seas

Podcast: Did the IMO 2020 sulphur cap make shipping’s carbon footprint worse?

Zero Carbon Centre warns shipowners to expect imbalances between alternative fuel supply and demand

Santos Brasil wants more after diving into liquid bulk terminals business

Wavelength

Soren Skou is the Alex Ferguson of shipping. Here’s why

People

Maersk Broker beefs up on LNG with two key new hires for 2023

Rebel shareholder Bjarte Brondmo quits board of restructuring DOF

Kirby adds former BP Shipping head Dio to board of directors

Fednav recruits Frank Mortensen to lead on strategy

Eagle Bulk expands board with appointment of veteran director

NorthStandard makes key executive appointments ahead of merger

Cofco’s head of freight jumps ship to build trading team at Eurochem

Slideshow

All-star maritime cast urged to ignite passion in next generation

Lomar awards bursaries to nine students in memory of Achim Boehme

Claire Dumas becomes NIBC CFO after 22 years at ABN Amro

Maersk’s new head Clerc acts fast with fresh leadership team to face container headwinds

GC Rieber rejigs management team as it pursues wind shipping goal

Henrik Sleimann Petersen to leave Ultrabulk amid reshuffle

Insurer Skuld makes key appointment in its hull business

North American decarbonisation group taps new vice president

UN names Kuwaiti admiral to run the Black Sea Grain Initiative

CMA CGM appoints Orange executive as new finance chief

Harald Fotland beefs up Odfjell’s top team with three new promotions

Law firm Tatham & Co brings in Ioanna Vitta to set up shop in Greece

Eagle Bulk names new finance chief as Frank De Costanzo steps down

Wartsila slumps to loss in ‘challenging’ year despite strong orders

Seafarers found hashish shipment on container ship in Greenland

Corrupt brother jailed over oil services contract bribes

Fredly and Blystad follow Sundt family in selling off Hunter stock

Swedish Club gets a boost from AM Best rating

Midsize bulkers find year-plus fixtures at premium to spot market

LNG

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New Fortress Energy snaps up Alpha Gas newbuilding in long-term deal

Deutsche ReGas plans second FSRU to boost German terminal capacity

New liquefaction project sanctions could soak up bulk of open LNG newbuildings

Ice-breaking LNG carrier makes round trip voyage to China in harsh conditions

Golar nets $140m by unwinding hedges on FLNG production as gas prices fall

Incoming new FSRU for Turkey’s Botas loads cargo in Egypt

Dynagas linked to LNG carrier newbuilding trio at Hyundai Heavy Industries

Oman’s Asyad confirms LNG carrier order as it seeks to diversify fleet

Work rolls on for $4.2bn worth of Russian LNG newbuildings

LNG bunker vessel supply crunch looms as newbuildings multiply

Thirty-year-old Seapeak LNG carrier offered for demolition sale

Evangelos Marinakis’ Capital Gas poised to fix LNG carrier newbuilding duo to Nigeria LNG

LNG carrier spot rates ease into 2023 but term business active

Single LNG carrier scrapped in 2022 with slim pickings forecast ahead

Avenir LNG reports loss in first quarter with full asset use

Sakhalin LNG exports threatened by Russian war risk exclusions

Limited impact on LNG shipping seen from EU gas price cap

Oman swoops on LNG carrier duo at Hyundai Samho yard at strong price

New German FSRUs to replace more than half country’s Russian pipeline gas

Bumper year for LNG sale and purchase deals with nearly 25 vessels sold

Euronav files second arbitration against Frontline

Keppel Corps tops share buybacks on Singapore Exchange in 2022

Idan Ofer takes big profit as he chops stake in Ardmore Shipping

Maran Dry swoops for Anglo American dual-fuel capesize bulk carriers in China

Dry bulk ‘the best trade of 2023’, says Clarksons Securities

Spain seizes 4.5 tonnes of cocaine after tracking livestock carrier for two years

Boxships

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Lowest CII rating to hit ship values and charter options, warns MPC Capital’s Rychly

Maersk confirms ship sale to MSC as part of ‘continuous fleet review’

In-depth

Boxer accused of key role in drug scandal engulfing MSC faces his toughest fight

CMA CGM-backed Neoline finalises order for first $65m-plus wind-powered ro-ro

MSC ordered to pay up after judge makes good on default judgement threat

Lower demand pushes Matson to forecast steep drop in shipping revenue and profit

Cosco splashes $814m on stake in logistics company Cofco Fortune

SeaLead fixes another large boxship at sharply reduced rate

Freightos reports record results ahead of planned Nasdaq listing

SFL Corp eyes new bond issue as $138m convertible maturity looms

Hapag-Lloyd and MSC expand in Italian terminal sector

Maersk sublets to rival as big box charter market collapses

Newcomer Ellerman ditches Asia-Europe after freight rates tank

‘Doomsday clock’ ticking for liner operators on east-west trades

MSC’s secondhand shopping spree veers towards $10bn mark

Container lines get creative to keep idle fleet ‘artificially’ low

Euroseas offloads container ship for $14.2m in reported demolition deal

Insurer adds to pile of ONE Apus claims after Crocs go overboard

Crippled container ship towed to Dunkirk after engine breakdown

Container shipping’s green performance flounders, but tankers shine

Analysis

BRS Group says product price cap could mean falling Russian exports and LR strength

Pangaea Logistics Solutions in sales deal for oldest bulker

Titan beefs up with buy of Seapeak small-scale LNG carrier duo

Bahri profits surge as fortunes rise with VLCC boom

Dorian LPG tipped for more cash hand-outs as VLGCs see substantial gains

‘Restless’ Sophocles Zoullas says the best is yet to come

ESG

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Green Seas podcast: Biofuels prove an easy but expensive carbon-cutting solution for shipping

Klaveness says it’s time for shipping to give something back after Red Cross donation

Onassis firm joins Singapore’s GCMD as first Greek member

Maran Dry swoops for Anglo American dual-fuel capesize bulk carriers in China

Rotterdam aims for regular methanol bunkering by the summer

Comment

When science speaks on scrubbers, shipping should listen and seek solutions

Green Seas: EU-funded research finds scrubber discharge harm at the tiniest of concentrations

Lowest CII rating to hit ship values and charter options, warns MPC Capital’s Rychly

MOL presses ahead with ammonia-fuelled newcastlemax bulker

Eco shock: green fuels will not beat fossil fuels on price until 2040, MSI warns

Anglo American’s first LNG-fuelled capesize bulker delivers iron ore to China

Clan clients hunt bulkers and MPP tonnage for Russia trade

UK-based Russian owner Rostrum builds fleet in East-West dry trades

Landmark Poseidon Principles report shows insurers’ portfolios failing to meet climate targets

Vessel risk: RightShip launches ‘task force’ to guide ports

Safety blitz helps Singapore shipyards slash worker deaths

Norsepower secures second tanker rotor sail deal

Debate on noise rules being mandatory or not gets louder as IMO meeting starts

CII tool too ‘simplistic’, say London Greek shipowners

CMA CGM-backed Neoline finalises order for first $65m-plus wind-powered ro-ro

Cruise and Ferry

Catch 22 solved: Swan Hellenic takes over final Russian-leased ship

P&I clubs influencing governments over sanctions, claims expert

BP sees rising near-term LNG trade but an uncertain outlook after 2030

Slower tanker S&P market spins a merry-go-round of asset plays

Mansimov’s Palmali to pay $10m to Sberbank after ‘fraudulent’ tanker transfers

Maersk consigns Hamburg Sud and Sealand to history

Interview

Demand can handle the orderbook, says car carrier boss Leif Hoegh

Interview

SCMA’s Bernice Yeoh restarts Asia outreach campaign after pandemic restrictions

Meet the maritime heating and cooling specialist who fights fires

‘I want to take it forward,’ says ‘ambitious’ new SSY chief Stanko Jekov

Peter G’s return to shipping: ‘I’m happy … and I can’t even tell you why’

Braemar’s James Gundy: ‘I’m a believer in consolidation’

Marine procurement may not be sexy but it can make ships greener, says Inchcape exec

Buoyed by dry bulk, Norden’s Jan Rindbo eyes opportunity in tankers

Maersk-backed ZeroNorth open to more deals as tech sector poised for consolidation

Canopius takes a principled approach to the marine insurance business

Shipping analyst Joakim Hannisdahl reveals plans for new fund after ‘challenging’ Cleaves split

Streetwise: Inside the world of shipping investor ‘Disgruntled’ Ned Sherwood

Ned Sherwood has only made profits on the shipping company he’s most disgruntled about

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

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

BP: Russia war will cut long-term oil trade

Cruise and Ferry

Wallenius on avatar voyage with Abba to wind-powered reality

Japan looks to secure war risk cover for Russian gas exports

EU states wrangle over oil price cap levels

Rotterdam aims for regular methanol bunkering by the summer

Pareto Bank builds vessel portfolio as boxship exposure cut again

Offshore

Wind shift? Strong rates on new Eneti contracts could check disposal plans

Eneti scores up to $13m in new contract revenue on three wind units

Record-breakers: ‘Simply not enough’ AHTS ships in North Sea, Fearnleys says

Fincantieri wins contract to build Crowley-Esvagt SOV

Crowley and Esvagt joint venture to build US service operations vessel

Vroon boss Marks steps down as $330m offshore fleet put on sales block

Renewable construction contract adds nearly $100m to Keppel backlog

Eneti shares climb as contract revenue beats analyst expectations

Safeen doubles offshore fleet through organic growth

Eneti locks first WTIV newbuilding into $75m contract for 2025 work

CMB’s Windcat orders series of hydrogen-powered CSOVs in Vietnam

Group of US investors take big chunk of Solstad Offshore in OSV recovery

Cadeler splashes out on $345m turbine installation ship in China

Two seafarers injured in blast on Greek offshore support vessel

Edda Wind orders CSOV and wins 25% charter hike for SOV

DOF Group looks to have the numbers to stave off bankruptcy

Tidewater sees stock price drop after issuing shares to cover Swire Pacific buy

Tidewater drags customers into short-term charter deals to catch improving rates

PGS sells out $150m equity raise as seismic markets heat up

Boskalis to delist in November after HAL seals $2.3bn takeover

US Treasury envoy warns Russian and Iranian sanction-busters ahead of Middle East trip

Biggest shareholder Helge Mogster backs new DOF board’s last-ditch rescue bid

Kumiai Navigation doubles up on dual-fuel VLGCs at Kawasaki Heavy

Product tankers continue rate slide in spite of increased activity

Capesize bulker rates drop by a third while Asia celebrates Chinese New Year

‘Buy the weakness’: Jon Chappell on why tankers still have a long way to run

Business Focus

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The $1bn question: Here’s how 54 leaders would invest in our fantasy sustainable shipping fund

Fulford-Smith: Invest in ‘cradle-to-cradle’ green recycling for sustainable ships

Kristin Holth says back long-term shipowners, not asset players

Oystein Kalleklev: IMO 2023 rules have turned into a ‘car crash’

Jigo Hayashi: Net-zero cannot realistically be delivered without efficient carbon capture and storage

Special report: Shipbuilding faces choppier 2023

Best year for Hyundai yards since 2007 despite a slowdown in global newbuilding orders

Japanese shipyards feel the pain as bulk carrier orders slump

Special report: A Danish approach for the future

Danish Shipping is at the heart of turning Denmark’s blue economy green

Shipping has bigger concerns than a change in Danish government

Business Focus

Collaboration in Copenhagen: shipping aims high to get to zero

Japan’s maritime cluster gathers around wind farm projects

Business Focus

Wind goes into battle with oil and gas for offshore vessels

‘Massive market’: Norway’s Stodig gears up to capitalise on domestic wind ambitions

Special report: Wind goes head-to-head with oil & gas in vessel market

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

When science speaks on scrubbers, shipping should listen and seek solutions

Lowest CII rating to hit ship values and charter options, warns MPC Capital’s Rychly

E-paper

Weekly

The Odd Couple uncouple; Avin delivers masterclass

Maersk confirms ship sale to MSC as part of ‘continuous fleet review’

Croatia rejoins ECSA to better cope with tighter shipping rules

MPCC linked to sale of veteran boxship that has dropped $46m in value

Tw+

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Machine earning: How digital monitoring can make a difference

Carbon laws dawn: Are new IMO emissions rules fit for purpose?

Cruise seeks cut to intensity to prevent perverse incentives

Tug of law: CII ‘cuts through the heart’ of contracts

How to digest the IMO’s alphabet soup of rules

How EEXI and CII work (not forgetting SEEMP)

Rules not fit for purpose won’t get the job done

Class takes the lead on setting ship energy plans

Climate experts tell IMO: Here’s where you’re going wrong

The market is expected to become the ultimate CII enforcer

Slow steam ahead for older LNG carriers

Leap in the dark: Tanker owners brace for upheaval over eco targets

Pandora’s boxes: Lines fear what they’ll find when they unpack IMO rules

Bumpy road lies ahead for bulkers

Lenders go ‘bank to the future’ on efficiency standards

Don’t expect carbon rules to create a wave on the beaches

CII isn’t perfect but it’s better than nothing, says Maersk Broker

Meet the EEXI experts: ship managers are gearing up

Just-in-time arrivals: An idea whose time has come

Putin can’t count on Xi to ride to the rescue

New Fortress Energy snaps up Alpha Gas newbuilding in long-term deal

Russia looks to crude export spike as new ban looms

Euronav in limbo as Fredriksen equals Saverys family’s blocking stake

Deutsche ReGas plans second FSRU to boost German terminal capacity

Editor’s selection: What next for Maersk and MSC after 2M split? Fredriksen ups Euronav stake

BRS reveals change at the top as Gilbert Walter takes over

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