Summer is certainly at an end in the northern hemisphere this week, and it's not just the weather. After a slower few weeks, major news events broke fast, with the biggest being Maersk's bet on methanol for its first major decarbonisation play.
Elsewhere, fund manager cash has been ringing the changes, while German police have probed the scrapping of European-owned ships, and Japan faces questions over its safety culture.
Here's what I've been reading this week:
1. Will Maersk’s $2.1bn gamble on methanol lead others to follow?
AP Moller-Maersk is standing apart from its rivals after placing an order for pioneering methanol-fuelled containerships, and some believe the Danish shipping could be blazing a trail for others to elect this fuel type. Debate remains over whether green methanol is green enough for shipping's energy transition.
2. Police raid Erck Rickmers Group and other Hamburg owners in scrapping probe
More than 100 German police officers descended on the offices of several shipowners, with Erck Rickmers Group the only one whose name has emerged so far. The move raises the spectre of criminal prosecution over European shipowners' recycling practices amid EU rules that place more restrictions than global rules.
3. Big paint job ahead as Chemical Tankers Inc born after Oaktree completes Navig8 buyout
Talk about creative names! Oaktree Capital Management has taken full control of Navig8 Chemical Tankers and rebranded the shipowner by doing little more than lopping off the name of former partner Navig8. It's now Chemical Tankers Inc (CTI).
4. Fidelity keeps building dry book with $207m stake in Star Bulk
Mutual fund giant Fidelity's spending on bulker stocks is doubtlessly an encouraging sign for New York-listed shipowners that have traditionally faced investibility challenges, with institutional investors shying away from their relatively small market capitalisations.
5. It’s been a long time coming, but this boom is real
Bulker rates are surging, containership operators are rolling in money and the value of the world shipping fleet has risen to $1.2trn. Wavelength columnist Terry Macalister explores whether this Nantucket sleigh ride is poised to continue.
6. Catastrophic casualties put Japanese shipowners under safety spotlight
In a spate of recent shipping casualties, correspondent Adam Corbett has spotted a troubling common thread: low-profile Japanese shipowners. They're not the companies that make it to the headlines — one of them doesn't even have a website — but they've played a key role in the global shipping industry.
