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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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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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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Diana Shipping expects to make $7m from two new charters

Diana Shipping is looking to become several million dollars richer from two fixtures to two Asian shipping companies. The Simeon Palios-led bulker owner has fixed 82,117-dwt kamsarmax Myrsini (built 2010) to Hong Kong’s Asuca Shipping for 13 months to 15 Source: http://www.tradewindsnews.com

December 3, 2019
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Quiana fails to appeal arbitration award despite charterer owing hire

A UK judge has ruled a Greek shipowner had no right to withdraw a bulker from a charter deal despite the charterer owing hire money. Quiana Navigation was attempting to overturn a partial final arbitration award in March in favour of Pacific Gulf Shipping (Singapore). The row involved a 2017 agreement for the 63,000-dwt Caravos Liberty (built 2013), operated by Iason Hellenic, at $9,000 per day. The case revolved around…

December 3, 2019
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Reed Smith targets Asian growth after losing legal duo

Law firm Reed Smith is eyeing further expansion in Singapore and the wider Asian region after losing two partners to rival Squire Patton Boggs. Reed Smith revealed its ambitions after Washington DC-headquartered Squire Patton Boggs said it is launching a global commodities and shipping group with new recruits Barry Stimpson and Jessica Kenworthy as partners in Singapore. A Reed Smith spokesperson said: “We thank Barry and Jessica for their contributions…

November 27, 2019
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Oxygen Maritime product tanker to go back under the hammer

The High Court of Singapore has ordered a second auction of an Oxygen Maritime Management product tanker after a prior judicial sale in October failed to conclude. Athens-based Oxygen’s 36,900-dwt Megacore Honami (built 2010) will again be sold via a sealed-bid tender on 3 December. Bids are due in at the Sheriff of Singapore’s office at 3pm on that day. The ship was widely suggested as being sold to undisclosed…

November 26, 2019
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Golden Ocean CEO Vartdal quits as chairman steps in

John Fredriksen-backed Golden Ocean is looking for a new CEO after Birgitte Ringstad Vartdal resigned. Vartdal has been the boss since April 2016, having become CFO in 2010. Chairman Ola Lorentzon will be interim CEO until a successor is found. Vartdal’s last day is 30 November, but she will remain “available” to the company until the end of February 2020. She said: “I have had 10 fantastic years with Golden…

November 21, 2019
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