“In many ways, the ownerships have talked themselves into lower rates, which were not — and have not been — justified given market fundamentals.”
Jonathan Lee of Tankers International is unimpressed by owners somehow messing up a promising market.
VLCC owners can work smarter to get rates that fundamentals dictate
“Cosco has concluded the negotiations for the 20,000-teu vessels with the three yards. What is missing is the official contract signing ceremony.”
A source on a coming order for the Chinese giant. We all love a good signing ceremony. The desk, the backdrop with the order details on, the nameplates, the pens poised for the photographer. Lovely.
CSCL closes in on order for 20,000-teu newbuildings
“The charterers, Winning Shipping, have not been forthcoming in providing any information to assist in this investigation.”
The BMA sticks the knife into Winning in the Jupiter Bulk case.
“Our clients will shortly be engaging with the BMA on their report. At this stage, it suffices to state that they strongly refute any suggestion that they were ‘not forthcoming in providing any information’ that was requested of them, or that they ‘did not assist’ in any other requested respect. Given that our clients will be responding directly to the BMA, it is not appropriate to provide you with details for publication before the BMA hears from them.”
But Winning’s lawyer Nicholas Woo will not be taking this lying down.
Bahamas accuses Winning over probe into loss of Bulk Jupiter
“We have told the liquidators we are more than happy to pay what is due to them if they can confirm that they have paid the physical supplier what is due to them. ING have said they will do no such thing — and the contract is between OW and us. It raises the likelihood the physical suppliers will threaten to arrest our vessels as it becomes clear they will not get paid because the money is going to ING."
A managing agent says it's a case of damned if you do and damned if you don’t in the OW Bunker legal quagmire. Just pay twice to save the hassle!
ING Bank threatens to arrest ships over OW Bunker payments
“Recent fluctuations in tanker rates seen in reports by brokers should be taken with a grain of salt and do not at all represent a difficult situation for suezmax tanker owners.”
Herbjorn Hansson goes into bat for suezmax owners against those pesky brokers. They’re just troublemakers, plainly.
Hansson again, extolling the virtues of bosses like him buying shares in their own company. They’re all in it together.
“Economists in the West tend to underestimate the power of the Chinese state. The country with the biggest cash reserves on the planet is not going to allow a ‘big bang’ to happen.”
One broker is intensely relaxed about the power of China to ride out its market storm.
Shipping hopes for stimulus after China stock-market crash
“The blaze looked big but this was due to the flammable materials used in constructing VLGCs that caused a lot of smoke."
A shipbuilding expert downplays DSME's LPG carrier fire.
Tragic DSME blaze damages Shandong VLGC newbuilding
“There’s likely to be some resistance from owners to any higher newbuilding costs, then the market will adjust itself and Tier III will simply be the only option. Until the next new regulation comes along.”
A broker says owners might as well just bite the bullet now and order a fancy new ship. Or wait for Tier IV.
