Fearnley steps up the dry bulk recovery

Roy Hill tørlast Port Hedland Anangel Explorer-version2.jpg Tanker:

The extreme pressure in recent years on dry bulk carriers seems to be letting up, and 2018 in particular looks poised to be a turning point in all crucial aspects, concludes Fearnley Securities in a comprehensive analysis of the dry bulk market.

Last week's top stories on ShippingWatch

maersksearcher.jpg Carriers:

Mitsui OSK Lines was blamed for a dramatic 2013 wreck, Hyundai Merchant Marine lashed out at Maersk Line, while Kristian Mørch talked about his turnaround of Odfjell this week on ShippingWatch, which also brought news about Thorco, Rickmers Maritime, and the oil sector.

Last week's top stories on ShippingWatch

POLFOTO_44127043.jpg Carriers:

Maersk finally presented its plan for what the group will look like going forward, and what will be sold off. The group also received some rare criticism from Denmark's conservative government. A new shipping bank saw the light of day, and another wants to be global. Here are this week's top picks on ShippingWatch.

Höegh LNG orders four vessels from Samsung

Höegh LNG.JPG Tanker:

Norwegian gas carrier Höegh LNG has ordered four new vessels from struggling South Korean shipbuilder Samsung Heavy Industries. As per the deal, the first two ships will be delivered in 2019, while the remaining two will be delivered the following year.

BW LPG now owns 92.7 percent of Aurora

BW-Aries-(3).jpg Tanker:

Gas carrier BW LPG has secured a stake of 92.71 percent in Aurora LPG following an offer period. "We remain confident that the combination of BW LPG and Aurora LPG will create a stronger player in the challenging environment in the LPG shipping industry," says CEO Martin Ackermann.

Italian carrier files claim against Endofa in Dubai

bunker1.jpg Suppliers:

The dispute concerning a failed oil transport from West Africa to Europe is now continuing in Dubai where carrier d'Amico Shipping has filed a claim for close to one million dollars against bunker company Endofa. The case has previously been decided in London, but the carrier is pursuing a court ruling in the desert state.

OPEC deal could boost tanker carriers

IMG_5858.jpg Tanker:

An agreement at next week's OPEC meeting would likely increase speculative oil trading. In the short term this could boost the product tanker market which is otherwise crippled by overcapacity and filled stockpiles, Hafnia Tankers CEO Mikael Skov tells ShippingWatch.

This week's top stories on ShippingWatch

DFDS CEO Niels Smedegaard 2-version1 Carriers:

DFDS delivered another strong quarterly result during the past week of financial reports from several carriers, Maersk got burned by its own restructuring, and both bulk and tanker saw more setbacks. These were just some of the top stories this week on ShippingWatch.

Nordic American Tankers booked Q3 loss

Bow-Favour-in-sun-set.jpg Tanker:

Tanker carrier Nordic American Tankers booked a deficit on the bottom line in the third quarter. The Bermuda based company is however, still in the black for the full year and is satisfied that ship costs are lower than current rates.

Odfjell delivers USD 60 million operating profit

Bow-Favour-in-sun-set.jpg Tanker:

The chemical tanker market "continues to be challenging, but we continue to see improvements in our competitiveness, which softens the impact on the Odfjell results," says Odfjell CEO Kristian Mørch in the interim report Thursday. The carrier cancels orders for gas vessels.

Navig8 Chemical takes dive in Q3

P4210396.JPG Tanker:

Less cargo and growing competition dragged down the bottom line for Navig8 Chemical Tankers in the third quarter of the year, while new vessels boosted revenue. The carrier is optimistic about market prospects beyond 2016.

LNG industry enthusiastic after IMO sulfur decision

Sovcomflot LNG tank.jpg Tanker:

The implementation of global sulfur requirements from 2020 is good news for the LNG industry, whose optimism is greater than ever about natural gas's role as an alternative to conventional marine fuel. There is enough LNG available, and now structural obstacles must be overcome, says association SEA/LNG.

Last week's top stories on ShippingWatch

svovl.jpg Carriers:

The IMO reached agreement on the global sulfur directive, a list of Hanjin's creditors was published, and senior executives from the maritime sphere gathered for the Danish Maritime Forum in Copenhagen. Read about ING's lost OW Bunker case, struggling multipurpose carriers, and Maersk Line.

Last week's top stories on ShippingWatch

Mads Zacho 4.jpg Carriers:

Mads Zacho explained how he plans to get J. Lauritzen back on its feet, Maersk's shipbreaking troubles intensified, and two Norwegian shipping families joined forces in a new bulk partnership between Grieg Star and Gearbulk this week. Read about how shipping talent is developed as well.

ICS criticizes plans for Canadian tanker moratorium

britishcolumbia.jpg Tanker:

The shipowners gathered in ICS now warn the Canadian Transport Minister about the consequences of a potential moratorium on crude oil transports off the coast of British Columbia. Such a move would be "draconian" and could deter Canada's trade partners, notes ICS Secretary General.

BW VLCC: Still significant potential in China

BW Edelweiss VLCC Tanker:

While most of the world is talking about the slowdown in China's economy, and how this development impacts global trade, the industry should not forget that a growing need will remain for many years for oil in China – BW VLCC's VP for Commercial and Operations tells ShippingWatch.

Last week's top stories on ShippingWatch

2-ysinternational-mændivand.jpg Carriers:

Maersk's return to the controversial scrapping beaches in Alang, a time-frame for the developments toward unmanned vessels, and Maersk Line''s competitors are now noting surprising developments at the group after the split. Here are this week's top stories on ShippingWatch.

Scorpio Group does away with maligned fees

IMG_3322.JPG Bulk:

Management at the Scorpio group will no longer automatically collect one percent in fees for all vessels purchased or sold through Scorpio Bulkers and Scorpio Tankers. However, management can still collect fees through Bulkers if the share price exceeds USD 5.

Senior VP leaves Odfjell after 17 years

Senior Vice President Helge Olsen is stepping down as Odfjell's head of ship management after serving 17 years at the Norwegian carrier. He will be replaced internally until a permanent solution is found, the carrier writes in a statement.