TradeWinds | Latest shipping and maritime news

Imperial Petroleum runs afoul of Nasdaq share price rules Carnival Corp brushes off recession fears as inflation and interest rates mount Product tanker rates whittled down as VLCCs claw back some earnings Carbon reporting improving in shipping, but some major names remain holdouts Editor’s Selection: Maersk doubles down, bearish boxships and JP Morgan’s LNG bet Let’s go cruise: Carnival Corp returns to pre-pandemic positive cash flow Hoegh LNG finally locks FSRU into AIE’s Australian job Czech Republic buys capacity in Dutch FSRU duo FSL sells tanker for second time after Indian customs hitch Surging long-term rates add ‘instability’ to container shipping contracts

Product tanker rates whittled down as VLCCs claw back some earnings

Imperial Petroleum runs afoul of Nasdaq share price rules

Hoegh LNG finally locks FSRU into AIE’s Australian job

Low-profile London Greek shipping legend dies aged 93

ADS Maritime expands again as it buys into MISC’s fleet of shuttle tankers

Cruise and Ferry

Carnival Corp brushes off recession fears as inflation and interest rates mount

Angelicoussis and Ungar in the frame as Fredly’s Hunter sells VLCC fleet

International Seaways tumbles in ESG rankings after popping poison pill

US refinery crunch: ‘excitement’ stirs VLCC market as ships booked into China

Cargill could retrofit five to 10 ships for wind but newbuilds are the ‘game changer’

Capital Product Partners looks to sell legacy capesize as asset prices rise

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Insight & Opinion

Six-figure MRs and five-year charters: Product tankers keep getting stronger

Europe’s new FSRUs could become stranded assets if LNG pressure mounts

Outlook

Crude tankers can’t falter for much longer, DHT’s Svein Moxnes Harfjeld says

Container shipping stocks routed as recession fears rise

Wavelength

One-offs or the tip of the iceberg, shipping must stop abuse at sea

Still a ‘grind’ for VLCCs as global oil flows continue shifting, Euronav says

Robert Uggla hits back at Biden in US box shipping broadside

Capesize freight derivatives bleed as macro data bites

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

Secondhand VLCC sales surge in anticipation of stronger markets, says Affinity

Large bulkers find ‘floor’ as sentiment improves later in the week

Ince: Greek shipowners have plenty of finance options but the question is price

Product tankers continue high earnings as suezmaxes jump

Europe’s Russian coal ban sends bulk carriers racing for substitute cargoes

Viewpoint

Safety is critical to sustainability and commercial success

Doubts creep in over insurance ban on Russian oil transport

Spot market

Tankers rates move upward as suezmax earnings rebound 80% in a day

VLCC pain may lead to scrapping market rebound, GMS’s Sharma says

Singapore and Oslo remain among the cheapest shipping capitals for expats

Investors trading $1.1bn of shipping shares per week as liquidity soars

Ukraine crisis

Danish banks block payment of Russian debt to Lauritzen Bulkers

ESG Scorecard: Carbon reporting improving in shipping, but some major names remain holdouts

Editor’s Selection: Maersk doubles down, bearish boxships and JP Morgan’s LNG bet

Seanergy buys secondhand capesize to replace spun-off bulker

Surging long-term rates add ‘instability’ to container shipping contracts

Cruise and Ferry

Let’s go cruise: Carnival Corp returns to pre-pandemic positive cash flow

FSL sells tanker for second time after Indian customs hitch

Czech Republic buys capacity in Dutch FSRU duo

LNG

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Flex LNG converts three existing charters to long-term deals

QatarEnergy firms up more reserved LNG newbuilding slots at South Korean yards

Flex LNG looking at carbon capture as it pitches LNG carrier advantage

Chinese energy companies float tenders in hunt for up to 15 LNG carriers

Capital Gas swoops on LNG carrier newbuilding slots at red-hot prices

Dragnis-backed FSRU ‘Argo’ project unveiled in Greece

Freeport LNG warns of long wait for full operations after fire

JP Morgan reverses out of four planned Qatari LNG carrier newbuildings

Elusive LNG carrier newbuilding slots spur talk of sales candidates

Avenir LNG supplies its first bio-LNG bunkers in Germany

Avenir LNG snares bunkering supply deal with ferry owner Destination Gotland

QatarEnergy inks first LNG carrier orders with owners and yards in South Korea

Maran Gas Maritime adding pricey LNG carrier duo at DSME

Marinakis cites LNG push as driving factor behind Sovcomflot aframax buys

Fire shuts Freeport LNG’s Texas terminal for three weeks

CoolCo ‘lifts its sights’ to LNG shipping consolidation

LNG-fuelled order tally for 2022 tops 150 ship mark in record quarter

Special report

Greeks strike it lucky with natural gas investment

Snam Group taps Golar LNG for carrier in $350m deal

New Fortress sells Brazilian power plant but will continue operating FSRU

E-paper

Weekly

Container shipping stocks collapse; Maersk ups methanol newbuilding wager

Seafarer and two firefighters injured in Belgian bulk carrier blaze

Collaboration is key to tackling carbon, says ClassNK’s Sakashita

Turkey to probe claims buyers have imported ‘stolen’ Ukrainian grain

Sveaas AHTS ships secure ‘monstrous’ record of $233,000 per day in North Sea

MOL teams up with Japanese yards to build ammonia-fuelled gas carrier

Boxships

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Lines split with ‘shielded’ shipowners over EU emissions trading scheme

Navios reveals strong charter rate over 12 years for LNG-fuelled container ships

Maersk set to double down on methanol-fuelled container ship orders

Container shipping stocks routed as recession fears rise

CMA CGM launches fresh raid on secondhand container ship markets

Global Ship Lease buys back remaining notes maturing in 2024

Maersk admits it has abuse ‘problem’ on ships as state probe begins

Ocean Yield buys methanol-ready container ship newbuilding resale

Hapag-Lloyd boss warns of overcapacity during ‘turbulent times’

CPLP makes $597.5m dropdown buy of container ships, LNG carrier

Container shippers warn carbon tax will hike freight rates

CMA CGM poised to splash out $2.5bn on series of container ship newbuildings

Newbuildings

ONE orders 10 container ships worth more than $1.6bn

Costamare ditches China newbuild order for six neo-panamax container ships

Reduced red ink at ONE helps K Line book profit

Reshaped Capital Product Partners sees profit spike

Container ship boom doubles MSC owner Gianluigi Aponte’s fortune to $19bn

Euroseas fixes first newbuildings into 2026 at nearly $50,000 per day

CMA CGM pencils in fresh raft of 8,000-teu container ships at HHI

Doubling of contract rates and ongoing congestion fuel confidence at Zim

Sanctions bind: Per Saevik triumphs in court as Havila Capella free to sail again

Car carriers feeling the heat from automakers on decarbonisation

Finance ‘the missing’ link to decarbonise shipping, says MISC’s Yee Yang Chien

HJ Shipbuilding bags LNG dual-fuelled container ships order worth $240m

Day of the Seafarer

RightShip: Thousands of seafarers remain stranded on abandoned ships

Genco Shipping retains crown at top of Webber Research ESG scorecard

People

Jeff Bezos’ Blue Origin abandons plan to use converted ro-ro for rocket recovery

Marine Money’s analyst panel is back, but it’s not what it used to be

Master dives from cargo ship to save escaped meerkat called Boris

Technology chief Richard White leaves Clarksons after 17 years for a career break

Two crew members die on Norden product tanker in Bangladesh

German shipbroker Richard Heinrich-Mucke dies in fall from building

Tanker owner James Fisher finds new CEO as O’Lionaird steps down

‘Shouting and screaming’: Vafias faces down investors in combative Imperial call

Midshipman X revealed: USMMA student heartened by response to essay detailing sex assault at sea

Hope Hicks files suit against AP Moller-Maersk unit over 2019 sexual assault at sea

Jens Martin Jensen swaps Fredriksen’s Seatankers for return to Athenian Tankers

Former Sovcomflot CFO Kolesnikov plotting next move after quitting sanctioned owner

Jefferies drops coverage of 29 shipping companies after analyst exits

Emotional Lendoudis pays homage to founding father in 50th Evalend anniversary

Deutsche Bank raid leaves Jefferies fresh out of shipping analysts

Swire Shipping names Jeremy Sutton as new managing director

Morch resurfaces as J Lauritzen chief executive

Wista Norway gets new president and male board member

Dr Heinrich Schulte: Regrets? I’ve had a few …

Zacho returns to owner role with top spot at Navigator Holdings

Europe’s new FSRUs could become stranded assets if LNG pressure mounts

Outlook

DHT: Crude tankers can’t falter for much longer

Container shipping stocks routed as recession fears rise

Sembcorp Marine set to benefit from higher activity in the offshore sector

CMA CGM bolsters decarbonisation research ties with Singapore

Ocean Infinity and Samskip score cash for remotely-operated hydrogen-fuelled container ships

Insurance

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Insurer Norwegian Hull Club drops its P&I business

EU court rejects London P&I Club appeal over $1bn Prestige spill award

Sovcomflot has insurance cover in place, claims boss of sanctioned firm

Doubts creep in over insurance ban on Russian oil transport

Standard Club improves its underwriting result, but free reserves slip

Russian state ready to step in after EU and UK insurance ban

Cyprus says the impact of Russia sanctions on nation’s shipping is ‘manageable’

‘Significant issues’: Russian insurance ban already causing problems for tankers

Why owners are seeking the shelter of FD&D cover

Gallagher warns hull and machinery renewals will ‘test the market’s resolve’ on rates

Cesare d’Amico to lead new merged NorthStandard board

Shipowners approve North P&I and Standard Club merger

UK P&I Club names new chief underwriting officer

Stephen Catlin’s Convex to expand marine team with new hire

Sanctions bind: Havila Capella stuck in port after Norway rejects insurance waiver

Gard’s revenue tops $1bn as the mega mutual pulls further away from the P&I pack

Broker Gallagher predicts more P&I mergers within a year

‘Competition is good’: Gard boss responds to the challenge of consolidation

Insurer Skuld hit by $15m loss as investments turn negative

North P&I and Standard Club highlight financial benefits of merger as they woo members

Analysis

MSI pitches better second half for VLCCs — so long as China comes along

Danish Shipping bemoans lack of fuel life-cycle component in ETS proposals

Analysis

Mid-size bulker players pursue profitable fixtures on busy backhaul trades

Jeff Bezos’ Blue Origin abandons plan to use converted ro-ro for rocket recovery

Streetwise

Streetwise: Pyxis Tankers tells investors it is not a fan of dilutive shares deals

Flex LNG looking at carbon capture as it pitches LNG carrier advantage

ESG

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Carbon reporting improving in shipping, but some major names remain holdouts

Collaboration is key to tackling carbon, says ClassNK’s Sakashita

MOL teams up with Japanese yards to build ammonia-fuelled gas carrier

Cargill could retrofit five to 10 ships for wind but newbuilds are the ‘game-changer’

International Day of the Seafarer

RightShip: Thousands of seafarers remain stranded on abandoned ships

Financing is the missing link to decarbonising shipping, says MISC’s Yee Yang Chien

Car carriers feeling the heat from automakers on decarbonisation

Ocean Infinity and Samskip score cash for remotely-operated hydrogen-fuelled container ships

Genco Shipping retains crown at top of Webber Research ESG scorecard

Cold-cutting: German yard takes first vessel for green recycling

‘Paradoxical’: Danish Shipping bemoans lack of fuel life-cycle component in ETS proposals

Lines split with ‘shielded’ shipowners over European emissions trading scheme

X-Press Feeders to fit carbon capture kits on two container ships

Green push: Maersk foundation pumps another $45m into Mc-Kinney Moller Center

Newsletter

Green Seas: Will Biden administration take the lead in its own green push?

Fincantieri explores biofuels for TUI Cruises duo as steel cutting keeps order on track

Spot market presents emissions challenge as Cargill’s long-term fleet trims carbon

Insurer Norwegian Hull Club drops its P&I business

Logothetis-led Libra Group acquires St Johns Ship Building

RightShip partners Silicon Valley innovation accelerator

Keeping pace: Maersk Tankers to add 16 staff to its digital team

Iino makes a huge profit from veteran VLCC in hot sellers’ market

Norway argues JJ Ugland activities may have been outside tonnage tax

Cold-cutting: German yard takes first vessel for green recycling

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

JP Morgan back in on Qatari business with bumper LNG carriers order

Interview

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

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

Radziwill: Don’t expect ‘super-spikes’ in capesize spot rates later this year

Gaby Bornheim shifts the focus back onto German owners

New Odfjell boss Fotland is his own man but there will be no ‘revolution’

Saverys seeking to ditch Euronav board as battle lines drawn

WTW’s Abraham upbeat as broker emerges from collapse of Aon takeover

Sterling Shipping founder Fjeld: ‘People thought I was an idiot’ for buying bulkers

Roger Harrison asks ‘what’s next for shipbroking?’ as he takes helm at Gibson

Frontline’s Barstad blames ‘old-fashioned’ methods for talking down tankers

Chemical tanker returns remain a frustration for Niels Stolt-Nielsen

Maersk's Christiansen: 'It's an emergency, but hitting net zero by 2040 is doable'

Disgruntled investor Ned Sherwood steps up his call for Navios Partners changes

Variant need not spell 'doom and gloom' for clean tankers, freight analyst says

Kristoffersen says it's 'painful' leaving Klaveness after 15 years

Lines split with ‘shielded’ owners over EU emissions trading scheme

X-Press Feeders to fit carbon capture kits on two container ships

Flex LNG converts three existing charters to long-term deals

Navios reveals strong rate over 12 years for LNG-fuelled boxships

Crew and passengers rescued as cargo ship capsizes off Vietnam

Ukraine crisis

Bunge and Viterra Black Sea storage facilities bombarded

Business Focus

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

Newsletter

Streetwise: Stars align for shipping’s alternative financiers

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

Mountain of container ship cash fills Greek owners’ coffers

Special report

Greeks strike it lucky with natural gas investment

Special report: New ambitions blossom in Greek shipping

Born in adversity, Greek start-ups seek synergies

Greek shipping’s new digital in-crowd eyes global markets

Special report: Five fuels that will power the future of shipping

Dr Lynn Loo: Piloting shipping’s move into alternative fuels

Wind propulsion accelerator aims to take small developers through ‘valley of death’

Methanol first-mover Waterfront Shipping says fuel ‘safe and reliable’

Special report: Seafaring life in an era of change

Decarbonisation

Race for trained seafarers is on — as dual-fuel orderbook grows

Green transition requires commitment to safe crewing levels

Fleet Management prods its shipowners to make ready for 2023

Bringing seafarers on board to data-led platforms is crucial

North Star ensures more women become seafarers

Green push: Maersk foundation pumps $45m into Mc-Kinney Moller Center

Avic Leasing orders ultramax bulkers at New Dayang

Marine Money

Six-figure MRs and five-year charters: Product tankers keep getting stronger

Marine Money’s analyst panel is back, but it’s not what it used to be

BP Marine increases biofuel availability to Singapore following ship trials

Offshore

Cadeler and Seaway 7 clinch ‘record-breaking’ wind turbine deals

Clarksons Platou finds research answer on the Holm front

American Shipping’s $157m offshore splurge could be first of many

Maersk Decom to be wound up after handing over last contract to Petrofac

Navigare Capital diversifies into offshore after selling its largest container ship

Fred Olsen Windcarrier admits defeat on Oslo IPO

Keppel and Sembcorp Marine set to give birth to green ‘powerhouse’

BW Offshore denies report of fatal accident on scrapped FPSO

Clarksons Platou launches new advisory service to help owners into offshore wind

POSH sending four ships to India for $100m-plus contract

Sembcorp Marine’s ‘green’ revolution starts to pay dividends

Start-up Norwind Offshore inks another two CSOVs at Vard

Solstad sells six more as it completes 36-ship clear-out of unwanted fleet

Esvagt to order first methanol-fuelled SOV for wind farms

Golden Energy Offshore succeeds with share issue to fund decarbonisation

Eneti’s Seajacks wins new wind vessel charter at $43,000 per day

Edison Chouest shipowning arm reportedly eyes court restructuring

James Fisher tackles energy crunch with MSV charter from Go Marine

Great Eastern scraps PSV hit by fatal fire off Mumbai

Shareholder HAL launches $2.5bn takeover of marine giant Boskalis

Newsletter

Green Seas: Will Biden administration take the lead in its own green push?

Wavelength

One-offs or the tip of the iceberg, shipping must stop abuse at sea

Broken machine? Andreas Sohmen-Pao worries about the world but likes shipping outlook

Cruise and Ferry

Abercrombie & Kent emerge as buyers of auctioned Crystal cruise ships

Cruise and Ferry

Carnival’s new US sub brand shows cruise giant’s lack of confidence in Asia

Cruise and Ferry

Fincantieri explores biofuels for TUI Cruises duo as steel cutting keeps order on track

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