China Merchants Energy Shipping stole the show on the newbuilding front this week.

A huge order running to almost $1bn for 12 newcastlemaxs will mark the company’s first play in the large bulker market in a decade.

Shipbuilding players said CMES is finalising the deal with two domestic shipyards — state-owned Qingdao Beihai Shipbuilding Heavy Industry and privately owned New Times Shipbuilding — for the series of 210,000-dwt vessels.

The company is joining an elite group of shipowners to have ordered newcastlemax newbuildings this year.

John Fredriksen’s Seatankers Management, Eastern Pacific Shipping, K Line, CMB.Tech and Berge Bulk are among the shipping companies to have contracted newcastlemax bulkers in 2024.


Clarksons has survived another revolt on its executive pay policy as huge shareholder concern over the issue remained evident.

Shareholder proxy firms had recommended voting down the London-listed shipbroker’s policy at the annual general meeting on Thursday.

Clarksons carried the day again, but the remuneration report received the backing of only 57% of the votes.

Under the microscope is the pay packet of chief executive Andi Case. He took home £11.9m ($15.1m) last year, while chief operating officer Jeff Woyda earned £350,000, plus a bonus of £2.7m, for a total of £3.7m.

Rival Braemar was also grabbing headlines a week after two members of the prominent German Dohle shipping family became investors in the London-listed firm.

A filing reveals that a Hamburg-based company called Minna Invest acquired a 3.01% stake on 2 May. The vehicle is controlled by Jan and Jost Dohle, grandsons of the shipowner Peter Dohle.

Emanuele Grimaldi, TradeWinds Shipowners Forum, Athens. Photo: TradeWinds Events

One man who is already seeing investments in public companies pay off is Emanuele Grimaldi.

He revealed he was well in the money on his stake in Gram Car Carriers after Gianluigi Aponte’s NOK 7.6bn ($700m) bid to take over the company last month.

Grimaldi reckons his stake in Gram Car Carriers has likely increased in value by over fourfold.

“I started buying when they were very, very cheap. I made over €10m [$10.7m] only with the takeover of Mr Aponte,” the shipowner told Ian Lewis. “But I made another €15m-€20m before with this company.”

Two of the world’s leading container lines are taking different directions on respective newbuilding projects.

Danish giant AP Moller-Maersk has stalled a significant order while Evergreen Marine Corp has signed a fresh deal.

Brokers said Maersk has delayed an order for up to 15 methanol dual-fuel 3,500-teu boxships for reasons which are unclear.

However, a Maersk spokesperson said the liner company had never confirmed the order and declined to comment further.

At the same time liner giant Evergreen has chosen China’s CSSC Huangpu to construct six dual-fuel 2,400-teu boxship newbuildings, TradeWinds understands.

Brokers following Evergreen’s boxship deal said the company is paying about $53m each for the methanol dual-fuel newbuildings.


FOTO:JEFF GILBERT 24th May 2022. John Fredriksen and partner Maryam Mohaghegh spotted along the Kings Road, Chelsea. Photo: Jeff Gilbert/DN

As Norway basks in a long weekend holiday the country’s biggest and best-known shipowner John Fredriksen is about to celebrate a milestone birthday as he turns 80.

JF, as he is widely referred to, has been in the shipping industry spotlight for good and not-so-good for most of his career.

Rivals, former staff and those who know the tycoon well, contributed to colourful account of how the owner of over 300 ships stands in the industry today.

They speak of Fredriksen — who started as a shipbroker — as having an eye for detail with employees being questioned daily on tanker fixtures which they may need to justify to the main man.

One man who has worked with Fredriksen spoke about his “impressive memory”, “energy” and “drive to do deals”, despite the scale of the group and the challenges he might face.

You can test your knowledge of Fredriksen and his colourful career by taking the birthday quiz.


In this episode deputy editor Eric Priante Martin looks at the bullish tanker markets who are reaping the benefits of a solid market.

We visit the TradeWinds Shipowner Forum in Singapore where discussions turned to possible impact of elections (think 2nd term of Trump in the US) on shipping markets, and also at the whole idea of green corridors and they my be flawed.