14

Unipec dominates tanker chartering league table

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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.

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20

Euronav: ‘Another robust year for tankers’

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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.

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15

Landmark switches Xiamen LNG contract to China Merchants

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Saga LNG Shipping, a new LNG shipping firm controlled by Landmark Capital, has signed a shipbuilding contract with China Merchants Heavy Industry (CMHI) for the construction a 45,000 cu m LNG carrier, plus one option.

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13

BP timecharters tanker trio

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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.

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11

China VLCC sells two

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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.

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12

GasLog secures $1.3bn loan to fund LNG newbuildings

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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.

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21

BW Pacific readies Oslo IPO

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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.

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15

Ridgebury to sell tanker fleet

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Ridgebury Tankers is to sell its fleet of suezmax, aframaxes and MR product tankers, keeping only its four VLCCs, brokers tell Splash.

The company is willing to sell the vessels individually or en bloc, sources added.

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20

Almi Tankers vessel hit by pirates in Singapore Strait

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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.

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18

Augusta Due: Hold and consolidate

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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.

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13

Tsakos Energy Navigation fixes three LR2s on timecharter

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Tsakos Energy Navigation (TEN) has fixed three of its LR2 aframax tankers on timecharters to “a major European oil concern” for carrying crude oil. Together, the fixtures are worth around $100m.

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14

MISC looking at VLCCs and FPSOs

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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.

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16

BW back at DSME for LNG pair

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South Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) has confirmed that Singapore’s BW Group has signed for two 173,400 cu m LNG carriers in a deal worth close to $400m.

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18

Bangladesh Shipping Corp signs for 3 tankers

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State-owned Bangladesh Shipping Corporation has signed a much telegraphed deal for three 50,000 dwt tankers. Brokers put the price of each ship at $35m.

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13

K Line fixes another VLGC with Gyxis

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Kawasaki Kisen Kaisha (K Line) has reached an agreement with fellow Japanese firm Gyxis Corporation to enter into a time charterer contract of a new 82,200 cu m VLGC to be built and delivered by Kawasaki Heavy Industries in November 2018.

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19

Scorpio Tankers buys back $9m in shares

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Scorpio Tankers has spent just over $9m since August 24 as part of its plan to spend up to $250m repurchasing its shares.

Over the past month, the company has purchased 994,201 of its common shares in the open market at an average price of $9.13 per unit.

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18

Frontline to delist from the London Stock Exchange

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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.

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17

Teekay’s Tanker Investments upsizes share repurchase

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Teekay Corporation’s special investment company Tanker Investments has announced today that the company is upsizing its existing share repurchase program by a further $30m.

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16

Elbana di Navigazione: Fleet renovation in the pipeline

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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”.

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12

Chemical tanker in propylene leak scare at Hainan’s Basuo Port

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Chemical tanker Tong Zhou 6 (3,034dwt, built 2010) suffered from leakage while it was loading propylene on Wednesday at Basuo Port in Dong Fang, an emerging coastal city in Hainan.

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