Scrubber premiums hit five-figures with IMO 2020 closing in

With 1 January closing in, scrubber premiums are rising into the five-figures. According to Deutsche Bank’s Amit Mehrotra, VLCCs with the emissions-cleaning technology are earning $17,000 per day more than their scubber-less peers in the spot market. Likewise, suezmax crude carriers Source: http://www.tradewindsnews.com

December 30, 2019
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Diamond S Shipping secures new, $525m credit facility

Diamond S Shipping is pushing its debt back. The Connecticut tanker owner announced Monday that it had secured a five-year, $525m credit facility that it would use to pay down the company’s $501m in outstanding loans. “We are pleased that we were able to close on this facility and achieve a number of important goals, particularly given the challenging international environment for ship lending,” said Kevin Kilcullen, Chief Financial Source:…

December 30, 2019
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Nord/LB gets $3.17bn cash injection

Germany’s Nord/LB bank has received a €2.8bn ($3.17bn) cash capital injection from its shareholders. The new and existing owners of the German ship financier have taken the last step necessary for the realignment of the Hanover-based bank, which has Source: http://www.tradewindsnews.com

December 27, 2019
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The most shocking shipping moments of 2019

Ravi Mehrotra declares himself the most famous face in shipping Sadly, a poll of TradeWinds readers disagreed with the Foresight Group chairman, naming John Fredriksen as the industry’s most famous face. Nobu Su goes to prison Custodial sentences for contempt of court are considered a rare and extreme measure by English judges, but former shipowner Nobu Su is a rare and extreme character, who was jailed for 21 months in…

December 23, 2019
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Nordic American Tankers rejoices in rate ‘bonanza’

The tanker market is showing no signs of slowing down as the New Year approaches, Nordic American Tankers’ chief executive Herbjorn Hansson said in a note Friday. He said the tanker “bonanza” is continuing, with his company fixing several ships on voyages that Source: http://www.tradewindsnews.com

December 20, 2019
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Trailblazing LNG bunkering unit under construction in Italy

A project to introduce LNG as a ship fuel in the Mediterranean inched closer to fruition with the ordering of a bunkering barge. The region’s first Semi-Ballastable Barge Transporter (SBBT) has begun being constructed at the Rosetti Marino shipyard in Ravenna, Italy. Source: http://www.tradewindsnews.com

December 20, 2019
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Top Ships scoops up two newbuildings from CEO’s private interests

Top Ships has bought two MR tanker newbuildings from chief executive Evangelos Pistiolis. The New York-listed shipowner announced Thursday that it spent $14.35m to buy two Pistiolis-affiliated companies that control scrubber-fitted 50,000-dwt MRs under construction at Hyundai Mipo Dockyard in Source: http://www.tradewindsnews.com

December 20, 2019
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DryLog, ArcelorMittal come together for dry bulk JV

Steel and mining giant ArcelorMittal and Peter Livanos-backed DryLog are joining forces in a shipping joint venture. The outfit will see DryLog take a 50% stake in ArcelorMittal’s shipping subsidiary Global Chartering Ltd. It will retain that name and the 28 bulkers Source: http://www.tradewindsnews.com

December 17, 2019
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