‘Shipshape 10’ News for Week Ending April 15th, 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’:

On trade:
1. Whatever Happened to Free Trade? (The Wall Street Journal)

While more and bigger containerships still getting delivered:
2a. Biggest Ship to Ever Call On U.S. East Coast Arriving in May (gCaptain)

2b. Madrid Maersk Snatches Record from MOL Triumph (The Maritime Executive)

Chinese financing always on focus:
3a. A Sunny Spell – A new Mood of Optimism Infects Investors in China’s Banks (The Economist)

3b. Chinese Finance is Storing up Trouble for the rest of the World (Financial Times)

Ongoing concerns on the apparent sinking of MV ’Stellar Daisy’; Lloyd’s List article quoting Basil Karatzas:
4a. Stellar Daisy Casualty Sparks Karatzas Warning on Conversions (Lloyd’s List)

4b. Intercargo Calls for Quick and Thorough Investigation into MV ‘Stellar Daisy’ Sinking (Seatrade)

4c. “Rolling like I’m inside Washing Machine”: Terrifying Account Sinking MV ‘Stellar Daisy’

Korean shipbuilder DSME seemingly in an existential unbearable lightness of being, being getting into receivership and obtaining more newbuilding orders; Wall Street Journal article quoting Basil Karatzas:
5a. Korean Shipbuilder’s Survival Hinges on Creditors’ Losses (The Wall Street Journal)

5b. HMM in for up to 10 VLCCs at DSME (Splash 24/7)

Insightful articles on the German shipping market from Lloyd’s List:
6a. Rickmers Maritime Trust falls but Nemesis dances on (Lloyd’s List)

6b. German Owners on the Brink (Lloyd’s List)

While another German company with pedigree has fallen off the pier:
7a. Rickmers Maritime to be Wound-up After Last Ditch Restructuring Talks Fail (Seatrade)

7b. Charter Market Recovery Too Late to Save Rickmers Maritime (The Loadstar via gCaptain)

On commodities and iron ore:
8a. Iron ore Sinks as China Glut Unnerves Traders (The Financial Times)

8b. China’s Steel Pillars Corrode (Bloomberg)

LNG definitely is promisingly in the news with every day:
9a. LNG-Fueled Mega Container Ship Design Approved (The Maritime Executive)

9b. Gas Fleet Concept Receives Approval in Principle (The Maritime Executive)

9c. Jaxport’s LNG Bunkering Facility is Ready to Work (The Maritime Executive)

9d. New U.S. Pipelines to Drive Natural Gas Boom as LNG Exports Surge (Reuters)

With global warming and the navigating in the Arctic being critical:
10. Icebreakers – The quickest way to break the ice is by submarine (The Economist)

And, a few more sad thoughts on yet another shipping tragedy, the Jones Act ferry MV ‘El Faro’ that was lost last year during the hurricane Joaquin:

11a. ’I’M A GONER’: El Faro’s Last Hours as Ship Sails into Storm (Associated Press)

11b. El Faro’s Tragic Ending ‘Burned’ in Investigator’s Mind (Associated Press)

LNG was on the central topic at the 2017 Columbia Global Energy Summit. From left, Dr Tim Boersma (CGEP), Charif Souki (Tellurian), Dr Tatiana Mitrova (CGEP), Jeroen van der Veer (ex-CEO Shell), Fu Chengyu (former Chairman of CNOOC / Sinopec). 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 December 25, 2016

‘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, sometimes humorous, occasionally sarcastic, but always insightful and topical.

And, this week’s ‘Shipshape 10’:                                                                                                         
Heading to the Holiday Season, market activity has been slowing down as would expect. Still several news stories to report reflecting the year’s tumultuous course for the shipping industry. This week’s top news:

Two Maersk-owned offshore assets (‘Maersk Shipper’ and ‘Maersk Searcher’) while under tow by yet another Maersk-owned anchor-handling tug support vessel, AHTS ‘Maersk Battler’, sank off the French coast while en route to Turkey to be demolished. The newsworthiness of the story is not in the shipwreck itself – towing vessels in the open sea is a very complicated exercise and is reflected to the insurance premiums to underwrite the tow, ask us – but in the fact that terrible accidents happen even under mighty Maersk’s watch, even when only Maersk vessels and personnel are involved:

1. Maersk Supply Services vessel pair sink en route to scrapyard (from Splash 24/7)

On the shipping finance front, rather surprising news that RBS has reportedly agreed to sell $600 mil in shipping loans to a syndicate of buyers; the shipping finance team of Reuters in London and Frankfurt once again ‘scooped’ the story; and once again, the shipping trade press was left behind and ‘copying and pasting’ the story:

2. RBS near to selling $600 million of shipping loans: sources (from Reuters)

The fact that shipping banks are leaving the industry, there seem to be an opportunity for alternative financing; two encouraging developments in this front this week:

3. Northern Shipping smashes third fund target (from Splash 24/7)

And after almost three years of efforts:

4. Maritime & Merchant Bank launches (from Splash 24/7)

Still on the same front of credit provided by alternative sources of capital, Bloomberg run a great story this week:

5. The $12 Trillion Credit Risk Juggle (from Bloomberg)

Taking a look on purely shipping companies and events, the Rickmers Trust moved another step closer to liquidation:

6. Rickmers Maritime bondholders vote against restructuring, liquidation looms (from Seatrade Maritime News)

While another 30-year ship-manager / shipowner closed the doors at the insistence of their main credit, the ING bank:

7. ‘That’s it, Flinter is no longer’: Dutch line dissolves (from Splash 24/7)

And Hanjin selling their stake in the Long Beach Terminal (TTI), following their recent bankruptcy:

8. Hanjin to Sell Stake in U.S. Terminal to Mediterranean Shipping (from the Wall Street Journal)

On more hopeful news, the Dow Jones Industrial Index (DJII) almost reached the major milestone of 20,000 points following the rocket-trajectory after the Trump election; some doubts still hover about the nature of the rally (‘faith-based rally), but again, if we learned anything from shipping in 2016 is that rallies, any type of rallies, are better than declines:

9. A Faith-Based Rally? Warning Lights Are Flashing – Before Anyone Gets Too Euphoric About Dow 20,000 (from Barron’s)

And, taking a quick look in 2017, commodities seem to provide a promising place to invest; which, by association, is positive news for shipping:

10. 2017: Time to Buy Commodities (from Barron’s)                                                                     
Merry Christmas, and a most joyous Happy Holiday Season!

lighthouse-point-judith-11-jul2014

A bright light! 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.