China’s Unipec once again dominated the VLCC dirty chartering ranks last year, according to Poten’s annual rankings. Despite slowing oil demand from China, Poten said Unipec’s top spot was unlikely to change anytime soon. Unipec’s 511 reported fixtures was more than four times the second largest player in this segment.Read more »
Were Maritime CEO to get into presenting awards – and we stress now that will never, ever happen – then there would be little doubt who our Person of 2015 would have been. Step forward, Paddy Rodgers, the architect of Euronav’s sensational bullrun on the stock markets last year, the man whose tanker timings proved brilliantly astute.Read more »
BP has fixed a VLCC on timecharter and two LR2 tankers owned by Latsis-controlled Latsco Shipping.
Latsco’s sisterships King Philippos and Lady Henrietta (both 111,800 dwt, built 2012) were chartered for 12-16 months at $28,250 per day, according to brokers’ reports. This is the highest reported rate seen in months for a year-long period charter.Read more »
China VLCC has entered into agreements to sell two of its six- to seven-year-old VLCCs to Marshall Island-registered entities for a total price of $133m.
China VLCC, which is a 51:49 joint venture between China Merchants Energy Shipping (CMES) and Sinotrans, has agreed to sell a 297,600-dwt and a 297,400-dwt vessel to the single-ship companies Tilos Shipping Corp and Delos Shipping Corp.Read more »
GasLog Ltd has secured export credit agency-backed debt financing for $1.3bn from 14 unnamed international banks that will fully finance its newbuilding programme.
The Export Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-Sure) are either directly lending or providing cover for over 60% of the facility, GasLog said.Read more »
BW Pacific will launch an initial public offering and list its common shares on the Oslo Stock Exchange in a move to grow and consolidate its position within the product carrier segment. The IPO should be carried before the end of the year, subject to receiving the relevant approvals from the Oslo Stock Exchange and favourable equity capital market conditions, the company held by the Sohmen-Pao family said in a release.Read more »
An aframax tanker owned by Greece’s Almi Tankers, Almi Spirit (105,571 dwt, built 2007), was boarded by at least six pirates this morning in the Singapore Strait, according to a twitter post from Malaysian Maritime Enforcement Agency (MMEA) director general Ahmad Puzi Ab Kahar.Read more »
The recent improvement experienced in seafreight rates for tankers is helping some shipping companies to recover from their complex restructuring plans. It’s the case of the Rome-based Augusta Due, a shipping company founded in 1994 by the Brullo family and active in the liquid bulk market with a focus on Italian cabotage and short sea routes in the Mediterranean.Read more »
Malaysia’s top shipping line MISC is in the market for secondhand crude tankers, so long as they can be backed by charter contracts.
Yee Yang Chien, MISC’s new ceo, held a recent briefing session with analysts at which he talked about the current bouyancy in the crude tanker sector, which has seen VLCC rate top $100,000 a day in the past week.Read more »
Frontline is delisting from the London Stock Exchange, cancelling all of its ordinary shares of $1.00 each with effect from the opening of the market on November 2 this year.“The company believes that, given the limited liquidity of the ordinary shares, the costs and administrative burden of maintaining the listing on the Official List and admission to trading on the Main Market are disproportionate to the benefits thereof,” Frontline said in a release.Read more »
Leghorn: Elbana di Navigazione is a small shipping company based in Piombino, Italy. It is thinking about investing in new ships for a fleet renewal supposing that Italian banks decide to come back to support the business. Fabrizio Freschi, ceo of the company, emphasises the concept telling Maritime CEO: “It’s vital for the shipping industry in Italy to witness a return of the traditional national lenders to the business”.Read more »