‘Shipshape 10’ News for Week Ending June 4th, 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’:

The biggest story in shipping in the past week, Rickmers Holding Group filing for bankruptcy. A bad market gets to everybody eventually, but again, Rickmers is not your typical shipping name. Effectively shipping royalty with 200+ years of history. Formally established in 1834, opening a rep office in China in 1899, more than a century before China became fashionable in shipping:

1a. Bank Rejects Rickmers Restructure (The Maritime Executive)

1b. German Shipping Firm Rickmers to File Bankruptcy (The Wall Street Journal)

The season’s greatest gathering happened in Oslo this week (Nor-shipping 2017); besides technology and disruption, the hot topic of the event was shipping magnate John Fredriksen:

2a. Shipping tycoon Fredriksen says has succession plan ready (Reuters)

2b. Succession Plan in Place: Fredriksen (Splash 24/7)

2c. Norway’s Frontline in Talks With Gener8 to Create World’s Biggest Tanker Fleet (The Wall Street Journal)

A bright spot in shipping, for now and the future, the LNG market:

3a. U.S. Approves First Offshore LNG Export Application (The Maritime Executive)

3b. U.S. Approves Exports from First Floating LNG Terminal in Gulf of Mexico (gCaptain)

Panama Canal likely one of the biggest beneficiaries of the LNG boom seems to be re-calibrating their pricing model, while Egypt is working on not staying behind and ‘One Belt, One Road’ getting more attraction:

4a. Panama Canal wants to modify tolls structure (Seatrade Maritime News)

4b. Egypt aims to profit from the Suez Canal (Financial Times)

4c. DP World hitches lift on the new Silk Road (Financial Times)

Regulations for shipping still have some time till driving home the message, but given the Trump’s action this week, shipping re-active approach to everything, for once seems appropriate:

5. New shipping fuel regulation set to hit commodities (Financial Times)

And, shipping about shipping and policy, the saga of Greek and German shipping, taxations and policy never seems to miss a chance for some arguing:

6a. Schaeuble ‘proves he does not desire to see Greece on a path to growth,’ says UGS chief Veniamis (Athens News)

6b. Head of Greek shipowners’ union: Schaeuble criticism unfair; Germany has favorable tax regime, too (Naftemporiki)

Shipping banks in the news once again, but again, what’s new?

7a. Worst Offshore Slump Holds Key Lessons for Top Norway Banker (Bloomberg)

7b. Commerzbank moves closer to shedding 4.5 bln euros in toxic ship loans (Reuters)

Seemingly no-news story from a major coal country, but reading through it, miners work on the lowering their stockpiles versus digging and investing; what do they say about their conviction for a brighter coal?

8. Coal India’s Output Declines Amid Focus on Clearing Stockpiles (Bloomberg)

U.S. and Germany have been solid trade partners for decades; recent developments start raising questions on the relationship and trade. What that could mean for shipping?

9a. Trump Paris rejection widens rift with Germany (Financial Times)

9b. Trump’s right about Germany (POLITICO)

9c. Trump Targets German Trade, and the South Grimaces (The New York Times)

9d. On The US-Germany Imbalance (The New York Times)

Shipping is also local:

10. Afloat on the Erie Canal: Sonar Gear, Ferris Wheel Parts and Beer Tanks (The New York Times)

First article is opinion piece in Greek about the death of shipowner Alexandros N Goulandris. Goulandris is a legendary name in the world of shipping, and one of the last few remaining ‘Golden Greeks’ of shipping. Besides his wealth and business success, his life has been characterized by his civic duty to donate generously to cultural and humanitarian causes, mostly in Greece. Something similar cannot be said about the modern way of things which may also explain Greece’s financial and cultural decadence:

11a. Η αφανής κηδεία ενός αφανούς ευεργέτη (Protagon)

11b. Shipowner Alexandros Goulandris Passes Away (Greek Reporter)

Summer sunset on the Port of Piraeus. 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 May 21st, 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, we take a minute to thank our readers who took time to contact us and let us us know that they missed reading our reports in the past couple of weeks. Delighted hearing that ’Shipshape 10’ indeed has become a quick way of following up the shipping and related industries.

And, this week’s ‘Shipshape 10’:                                                                                               
On the ‘One Belt, One Road’ initiative, and the recently hosted high-profile ‘Belt and Road Forum for International Cooperation’ in Beijing:
1a. Lessons for China in failed US Silk Road initiative (South China Morning Post)

1b. China’s Silk Road Initiative Sows European Discomfort (The Wall Street Journal)

1c. Next Silk Road summit set for 2019 as Beijing ramps up global drive (South China Morning Post)

1d. China takes ‘project of the century’ to Pakistan (Financial Times)

Trade agreements can be hard to re-negotiate when economic factors can interfere with politics:
2a. Trump launches NAFTA renegotiation (Politico)

2b. Prospect of NAFTA rewrite gives US farmers a case of jitters (Associated Press)

Not the biggest port in the world, but events in Buenaventura can underline how delicate the supply chain sometimes can be:
3a. Colombia’s biggest Pacific port placed under curfew (Financial Times)

3b. U.S. Ports Need $66 Billion for Infrastructure (The Maritime Executive)

OPEC for sure is winning the shale war…
4. Full tanks and tankers: a stubborn oil glut despite OPEC cuts (Reuters)

What do to with junk…
5. Old Containers Find Out-of-the-Box Second Lives (The Wall Street Journal)

Hopes that there is a recovery and economies will be growing solidly:
6a. Household Debt Makes a Comeback in the U.S. (The New York Times)

6b. The silent sell-off in US Treasuries (Financial Times)

The offshore and ‘brown water’ industries in the US still under pressure:
7a. Tidewater Files for Chapter 11 Bankruptcy (gCaptain)

7b. GulfMark Offshore Files for Chapter 11 Bankruptcy Protection (The Wall Street Journal)

An old generation Greek shipowner dies
8a. Aristides Alafouzos, owner of Kathimerini, dies (Kathimerini)

8b. Aristides Alafouzos, the founder of Kyklades Maritime, dies aged 93 (Splash 24/7)

There is a price for everything
9. From Deep in Atlantic, Titanic Relics Sail Toward Auction Block (Bloomberg)

Tall tales of drunken sailors no more
10. Terrifying 20m-tall ‘rogue waves’ are actually real (BBC)

A pretty picture of another products tanker in ballast condition. 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.

‘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.