‘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 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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