Clarksons chief executive Andi Case is charting a path to further growth after record results, but knows the competition is fierce. He told TradeWinds the London-listed shipbroker had come through “interesting times” in 2022 to post a best-ever operating result of £100.9m ($121.5m), up from £69.4m a year earlier. Case also had a stark warning for brokers who may have mislaid their “moral compass” by selling tankers for sanctioned business. “People who think they can ignore the rules and still go out and do business, I say ‘more fool them’, and I hope they have a lot of sleepless nights and wake up with a knock on the door.”
Newcastlemax pure-player Himalaya Shipping is looking to list on the New York Stock Exchange with plans for an IPO in the US. The Oslo-listed Herman Billung-led bulker shipowner confirmed on Wednesday that it has filed a registration statement on Form F-1 with the US Securities & Exchange Commission.
German shipbroker Hanse Bereederung believes the floodgates will soon open in the container ship scrapping market as older units become obsolete. A cull of veteran vessels has been delayed by record rates and demand caused by a locked-down global population spending money on goods, not services. But this trend has now been reversed.
In our weekly Green Seas environment newsletter, Eric Priante Martin digs into a report by green groups Pacific Environment and Stand.earth that names the biggest US retailers in terms of shipping emissions.
Green fuel was also a hot topic in New York this week at the TradeWinds’ Green Seas Fuels Forum. Nuclear power for ships was debated on Thursday, with one major detractor pouring cold water on its application as a green ship solution. After coming up multiple times during the day-long event held in New York, Stand.earth shipping campaigns director Kendra Ulrich said there were massive questions about putting reactors on board ships, including potentially enormous costs and big regulatory questions.
This week hosted International Women’s Day, an annual event which marks a call to action for gender parity. To mark the day, TradeWinds’ reporters produced a series of stories highlighting the challenges and successes for women in shipping.
Jonathan Boonzaier spoke to Jurong Port’s head of process and digitalisation Cynthia Mark Mohan about her leading role in bringing port operations for breakbulk shipping in Singapore into the digital age. Meanwhile, recruitment specialist Spinnaker revealed that women hold just 15% of shipping’s executive leadership roles. Its data, taken from 88 global shipping companies, shows a slight improvement on the 2021 figure, but a 40% pay gap with men in shipping is a key recruitment block, it added.
- CMB plan for Euronav is ‘light on detail’, says investor proxy advisor
- Eastern Pacific Shipping’s Cyril Ducau opens up on $1.8bn bid to cut carbon
- UN strikes $55m VLCC deal with Euronav to replace ‘timebomb’ tanker
- For VLCC read Very Large Cash Cow as rates head to $100,000 per day
- Washington urges major commodities traders to haul Russian oil