There's more evidence this week — if more was needed — of how the impact of the Covid-19 pandemic is reshaping shipping. From Greek owners stepping back into markets not touched for decades, to global investment rainmakers spotting new opportunities in shipping.
And then there is surging growth of the industry's service sector, and the long shadow of political tensions with the impact of sanctions and activities of Iran's 'ghost armada'.
Shipping's never easy to predict, but it's always thrilling to play.
1. Greece's shipping landscape shifts amid market upheaval
Greek shipping is rich in tradition, and one of those traditions is savvy flexibility. Like chameleons, the country's shipowners are quick to change their colour to take advantage of shifting markets, and Athens correspondent Harry Papachristou explains how they've been doing just that in the disruption that followed the start of the Covid-19 pandemic.
2. George Soros and Michael Burry build stakes in shipping companies
What do George Soros and Michael Burry have in common? They're both world-renowned investors who earned much of their fame from high-profile short positions. And, as Holly Birkett reports, they both have been increasing their shipping positions.
3. HSBC admits it got it wrong with Clarksons, as ‘buy’ tag restored
Usually stock picking analysts are off the mark to some degree, but when HSBC downgraded Clarksons' shares to 'hold' in April, the bank greatly overestimated how much the shipbroking giant's performance would depend on tankers. Now, after Clarksons' bumper second-quarter earnings report, analyst Anand Date reversed the downgrade, admitting that the bank misjudged the broad strength of the broker's business lines.
4. Sanctioned Strait Shipbrokers takes on US government in DC court
Since Washington threw Singapore's Strait Shipbrokers on its blacklist, it has faced what one lawyer described as the "‘civil death’ by starvation" that affects companies that are targeted with US sanctions. But the broking house is not taking that sitting down, as Jonathan Boonzaier reports.
5. Has missing 'ghost armada' aframax tanker been spotted off Iran?
The 106,000-dwt tanker Winsome (built 2000) has been missing since early July, but one group believes it may have spotted the vessel. United Against Nuclear Iran has pointed to satellite imagery that it believes shows the aframax is at the Khor Fakkan anchorage off Bandar Abbas, Iran. But mystery remains. For example, how did it get there?
6. Yang Ming seeks more containerships as newbuild wish list tops $3bn
Taiwan's Yang Ming Marine Transport is a bit late to the containership newbuilding party compared to rivals that have been building up their orderbooks, but it appears to be upping its game. Irene Ang reports that the liner operator is looking for yard berths for what could be orders for 15 neo-panamax boxships. It was already in talks to order five or six 24,000-teu megamaxes.
