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Venezuelan loadings require a premium in Caribbean Aframax market

The Caribbean Aframax market is settling into two distinct camps as Venezuelan loadings were booked at a premium to non-Venezuelan loadings Thursday, according to sources and the S&P Global Platts fixture log. Exxon was seen booking the Esther Baikal to load a 70,000 mt cargo for a Covenas-US Gulf Coast run at Worldscale 117.5 without [...]

By | May 28th, 2018|News|0 Comments

India: Cabotage tweak flags ‘foreign flight’ by container ship operator

In a retaliatory move, Shreyas Shipping & Logistics Ltd, the country’s biggest container ship operator, said it will flag out its Indian-registered ships to overseas business-friendly jurisdictions after the Centre decided earlier this week to open the country’s coastal shipping to foreign container lines. “We will flag our ships out, it doesn’t make any sense [...]

By | May 28th, 2018|News|0 Comments

Are Banks Back into Shipping Finance? The outlook for 2018 and beyond

2017 was a year in which market sentiment, especially in the dry market, showed some improvement. In addition, global economic growth and international trade continued to grow at a robust pace approaching 4% p.a. overall. With the slowdown in new vessel deliveries across a number of sectors, the improved sentiment allowed for some cautious optimism [...]

By | May 28th, 2018|News|0 Comments

Maersk Line introduces bunker fuel surcharge to counter crude price rise

The world’s largest container shipping company Maersk Line is increasing prices because of a surge in the cost of bunker fuel. The shipping fuel has become increasingly costly as global crude oil prices have returned to peaks not reached since 2014, lifted by the United States’ exit this month from the landmark nuclear deal with [...]

By | May 28th, 2018|News|0 Comments

Demolition Market Expected to Slow Down on Ramadan

Ships’ decommissioning and sold for scrap in East Asia’s scrapyards are expected to slow down over the next month or so, on religious holidays. In its latest weekly report, shipbroker Clarkson Platou Hellas commented that “with the holy month of Ramadan having now started, it is anticipated that activity and inquiry could slow down as [...]

By | May 24th, 2018|News|0 Comments

American Oil Boom Seen Tempting Ships to Steer Clear of Iran

The latest standoff between the U.S. and Iran may be leaving oil-tanker owners in more of a bind than in previous years. As the U.S. reimposes sanctions on the Islamic Republic, firms that help ferry Iranian oil risk losing access to the American financial system, similar to earlier in the decade when such measures were [...]

By | May 24th, 2018|News|0 Comments

Nordic Shipholding Reports 25% Increase in Time Charter Revenues

The Group started 2018 on a positive note as the average daily Time Charter Equivalent (“TCE”) rate in January 2018 and February 2018 for the 6 vessels was approximately 25% higher than the average TCE rate in Q4 2017. However, the TCEs earned in March 2018 fell short of expectations and were generally below the [...]

By | May 24th, 2018|News|0 Comments

Dry Bulk FFA: Capesize Market’s Downside Momentum Looks to Be Slowing Down

Highlights: The Capesize index has broken support and is now in a corrective phase having made a fresh market low. Downside momentum is showing signs of slowing as we approach the technical support zone. Remains corrective below USD 20,801 unless the index produces a lower high. The June futures have now made a lower low [...]

By | May 24th, 2018|News|0 Comments

MPC Container Ships: Acquisition Of Three 2,500 TEU Feeder Container Vessels / USD 200 Million Bond Proceeds Fully Invested

MPC Container Ships ASA (“MPCC”) is pleased to announce that it has entered into agreements with Triton Debt Opportunities S.C.A. and its subsidiary Victoria Schulte Shipping Ltd. regarding the acquisition of MV Victoria Schulte, a geared 2,500 TEU vessel built in 2005 at Aker MTW Werft, Germany (tbr “AS Paola”). The deal has been structured [...]

By | May 24th, 2018|News|0 Comments

Strong programme raises profile of The Maritime Standard Ship Finance and Trade Conference

Dubai, UAE:20th May 2018: The programme for the fourth annual The Maritime Standard Ship Finance and Trade Conference, which will take place on November 6th 2018 at the Sheraton Abu Dhabi Hotel and Resort, is set to be the strongest yet. The theme of the event will be: “Converting greater optimism into sustainable trade growth”, [...]

By | May 23rd, 2018|News|0 Comments

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