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UK Ship Register signs its first unmanned vessel

The UK Ship Register has signed its first ever unmanned vessel to the flag, showing how it is adapting to the changes of the maritime industry ASV’s C-Worker 7 will be used for work such as subsea positioning, surveying and environmental monitoring. It can be used under direct control, semi-manned or completely unmanned. Although such [...]

By | November 15th, 2017|News|0 Comments

Havila Shipping ASA: Capital Increase following debt conversion

Reference is made to the Stock Exchange release on 24.10.17 regarding sale of vessels. The vessels were delivered to new owner on 9th and 10th November. In the release it was informed about expected debt conversion to shares according to subscription rights issued as a part of the restructuring of the company. The company received [...]

By | November 15th, 2017|News|0 Comments

OSM wins crew management for Lauritzen Kosan’s entire fleet of 26 vessels

Shipmanagement company OSM Maritime Group has been awarded full crew management of Lauritzen Kosan’s entire fleet of advanced liquefied gas tankers. The agreement, covering 26 refrigerated ethylene, semi-refrigerated and pressurised gas carriers, will help Lauritzen Kosan deliver on its promise of providing optimal efficiency, safety, quality and value for its global base of energy and [...]

By | November 15th, 2017|News|0 Comments

Riding the bulk carrier market cycle: rebalancing after a boneshaking journey

A recurring question arises. Is a long-awaited bulk carrier freight market recovery now under way? Over most of the past decade, this sector has been weak, providing only meagre returns for shipowners. But, after a number of false dawns, improvements in freight rates during 2017 and the causes point to, possibly, a more sustainable upturn [...]

By | November 15th, 2017|News|0 Comments

Tankers: LR1 freight rates in Americas seen rising as arbitrage opens to NE Asia

An open naphtha arbitrage to Asia, combined with lack of available Long Range tanker positions outside the US Gulf, is forcing freight rates from the US Gulf Coast to the Far East up and widening spreads between Long and Medium range tankers for this route. “I’m seeing plenty of boats carrying reformer-grade naphtha going to [...]

By | November 15th, 2017|News|0 Comments

US Top Buyers of Auction and Bank Sales Vessels in 2017

2017 has seen US Owners tops the list of buyers of distressed tonnage, snapping up vessels sold at bank sales and at auction deals. Asset values reached a 25 year low for bulkers, containers and offshore vessel types in 2016, with a spike in the number of bankruptcies and vessel seizures by banks. US owners [...]

By | November 14th, 2017|News|0 Comments

Fitch: Tanker Shipping Oversupply to Keep Rates Low in 2018

A glut of new vessel deliveries and limited scrapping of older ships means the global tanker market will remain oversupplied in the near term, Fitch Ratings says. This will keep freight rates low and shipping company credit metrics under pressure in 2018. We expect capacity to have increased by 5%-6% by end-2017 from a year [...]

By | November 14th, 2017|News|0 Comments

Singapore Oct marine fuel sales down 8 pct m/m, steady to last year

Singapore’s marine fuel sales fell to a four-month low of 4.005 million tonnes in October, down 7.7 percent from September, but were largely unchanged compared with the same period a year ago, data from the Maritime and Port Authority of Singapore (MPA) showed. The October quantities are the third-lowest volumes for 2017 ahead of the [...]

By | November 14th, 2017|News|0 Comments

Asia Fuel Oil-Cash premiums for 380-cst rise on improved deal values

Cash premiums of Asia’s 380-cst high-sulphur fuel oil edged higher on Monday, snapping four straight sessions of declines as deal values in the Singapore window improved, sources said. Meanwhile, in the paper markets, activity was muted at the start of the week, leaving the prompt-month time spreads, arbitrage spreads and fuel oil cracks largely unchanged, [...]

By | November 14th, 2017|News|0 Comments

Suezmax Tanker Oversupply Still Prevalent, But Fortunes Could Soon Change for the Better

The Suezmax tanker market has been suffering for quite a while. However, the negative outlook which has come as a result of tonnage oversupply, could be eradicated in a couple of years’ time, signalling a reversal of fortunes. In its latest weekly report, shipbroker Charles R. Weber, said that “during the first half of the [...]

By | November 14th, 2017|News|0 Comments

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