‘Shipshape 10’ News for Week Ending April 8th, 2017

‘Shipshape 10 List’, a list of news and articles published in the current week that a senior executive in shipping, shipping finance, commodities, energy, supply chain and infrastructure should had noticed; news and articles that are shaping the agenda and the course of the maritime industry.

Sometimes seemingly tangential, periodically humorous, occasionally sarcastic, sporadically artistic, inferentially erotic, but always insightful and topical.

And, this week’s ‘Shipshape 10’:

Developments and news from the Jones Act market:                                                1a. $11 million Jones Act Penalty is Largest ever (MarineLog)
1b. The Jones Act Under Attack (The Maritime Executive)
1c. Born on the Bayou: NYC Ferry Fleet Builds for Summer Launch (Associated Press)

News from the German shipping banking market:
2a. HNA Group, Apollo Global Make Indicative Bids for Germany’s HSH Nordbank (The Wall Street Journal)
2b. NordLB Sufficiently Capitalised to Swallow Record 2016 Loss –CEO (Reuters)

News from the offshore drilling market are getting ever more abysmal:
3a. Ocean Rig Backer Takes Aim at Company’s Restructuring Plan (The Wall Street Journal)                                                                                                                               3b. Seadrill at Mercy of Day Traders as Biggest Funds Dump Stock
 (Bloomberg)             3c. Seadrill Warns on ‘Substantial’ Losses as Bankruptcy Fears mount (Financial Times)

News from the oil front:
4a. Information Asymmetry Bedevils the Oil Market (Financial Times)
                                 4b. Iran Struggles to Expand Oil Exports as sea Storage Cleared (Reuters)

And, news from the seaborne oil world:
5a. Homeless Gasoline Tankers Are Drifting Around the Caribbean (Bloomberg)
5b. Oil’s Seaborne Picture Suggests Opec Cuts Taking Effect (Financial Times)


And, more news on the oil trading world:
6. Oil Trader Gunvor Approached Competitors Over Possible Sale (The Wall Street Journal)

A gruesome reminder that shipping is still a dangerous business, with the apparent sinking of MV ’Stellar Daisy’ and great loss of life:
                                     7a. S Korean Cargo Ship Stellar Daisy Vanishes in South Atlantic (BBC)
                               7b. Attention Turns to Polaris’ 19 Converted Bulkers (Splash 24/7)
                                       7c. IMO Calls for Inquiry Into the Loss of Stellar Daisy (Maritime Executive)

‘One Belt, One Road’ never gets old…
8. Chinese Shipping Giants Seek Control of ‘Maritime Silk Road’
(The Wall Street Journal)

And news on a European shipyard in France; there are not many of them any more:
9. Even a Thriving French Shipyard Town Falls Under Le Pen’s Spell (Bloomberg)

Interesting legal-ese article for those who like to cruise; unfortunately not very flattering for the industry:
10. When People Die at Sea, Cruise Operators Often Get a Pass (The Wall Street Journal)

Products tanker MT ‘Arctic Bay’ under the Verrazzano-Narrows Bridge, enter the Upper New York Harbor. Image credit: Karatzas Images.

© 2013 – present Basil M Karatzas & Karatzas Marine Advisors & Co.  All Rights Reserved.

IMPORTANT DISCLAIMER:  Access to this blog signifies the reader’s irrevocable acceptance of this disclaimer. No part of this blog can be reproduced by any means and under any circumstances, whatsoever, in whole or in part, without proper attribution or the consent of the copyright and trademark holders of this website.Whilst every effort has been made to ensure that information herewithin has been received from sources believed to be reliable and such information is believed to be accurate at the time of publishing, no warranties or assurances whatsoever are made in reference to accuracy or completeness of said information, and no liability whatsoever will be accepted for taking or failing to take any action upon any information contained in any part of this website.  Thank you for the consideration.

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‘Shipshape 10’ News for Week Ending October 30, 2016

After some long absence, we return to our blog and hereby we are establishing Shipping’s ‘Shipshape 10 List’, a list of links to news and articles that were published in the current week that encompass all the information a top executive in shipping, shipping finance, commodities, energy, supply chain and infrastructure should had read in the week.

Sometimes tangential, sometimes humorous, sometimes sarcastic, but always insightful and topical.

Hope you enjoy it!                                                                                                                      
1. Reuters Exclusive: Deutsche Bank among bidders for HSH Nordbank’s debt portfolio (Reuters)                                                                                                      Another week, another shipping bank transaction

2. Wall Street Journal: Maritime Nations Agree to Cut Pollution From Ships in 2020 (Wall Street Journal Logistics Report)                                                                  Forcing lower emissions with the shipping industry, this IMO regulation can act as a catalyst for developments that should had happened sometime ago

3. IMO: No Final Climate Plan Until 2023 (The Maritime Executive)
Fast, but not so fast. SOx bad, COx can take longer… Go figure!

4. IMF Estimates Restructuring Cost at W31 trillion (US$ 27 billion) for S. Korea’s shipping and shipbuilding industries (Korea Times)                                                     S. Korea’s aggressive strategy  in  shipping and shipbuilding industries will need major resources to weather a bad cycle after developments with Hanjin Shipping, Hyundai Merchant Marine, Daewoo Shipbuilding and Marine Engineering, …

5. Blystad readies $100 million dry bulk bing with OTC filing at Oslo Bors (Splash 24/7)
Trying to crack open the capital markets in this weak market; hoping that more will emerge, successfully.

6. The Tale of Two Canals – Game Theory in Action (Splash 24/7)                               The Suez Canal announced a new payment structure for canal dues, trying to position more competitively against the new Panama Canal locks and capacity.

7. Maersk, MSC to Charter Nine Former Hanjin Ships (The Wall Street Journal Logistics Report)
Looking for solutions and cashflows in the wake of Hanjin’s receivership filing with strategically placed charterers; but at what price?

8. Hyundai Merchant Marine Bids for Hanjin (The Maritime Executive)
Hanjin assets and routes and business up for sale; co-patriot Hyundai Merchant Marine should logically be the strongest contestant in this weak market

9. Wind and solar advance in the power war against coal (The Economist)

10. Titanic locker key sold for £85,000 at auction (BBC News)
More than a century later, the ’unsinkable ship’ keeps captivating

Bonus Feature: Two Offen-linked MR Tankers on the Sales Block (Lloyd’s List) Karatzas Marine Advisors & Co and Toepfer Transport GmbH have been given joint-exclusive mandate by the Insolvency Administrator in Germany for the sale of MT ‘CPO Japan’ and MT ‘CPO Korea’

mv-kriti-i-8-bmk_7261

All the SOx and Nox and COx of the world… Not a day too soon for the IMO to act. Image credit: Karatzas Images


© 2013-2015 Basil M Karatzas & Karatzas Marine Advisors & Co.  All Rights Reserved.

IMPORTANT DISCLAIMER:  Access to this blog signifies the reader’s irrevocable acceptance of this disclaimer. No part of this blog can be reproduced by any means and under any circumstances, whatsoever, in whole or in part, without proper attribution or the consent of the copyright and trademark holders of this website.Whilst every effort has been made to ensure that information herewithin has been received from sources believed to be reliable and such information is believed to be accurate at the time of publishing, no warranties or assurances whatsoever are made in reference to accuracy or completeness of said information, and no liability whatsoever will be accepted for taking or failing to take any action upon any information contained in any part of this website.  Thank you for the consideration.

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