AMSC: Jones Act tanker market tightens as activity rises

American Shipping Company (AMSC) is set to reap the benefits of a busier US Jones Act tanker market. CEO Pal Lothe Magnussen said: “We are encouraged to see significant chartering activity in the Jones Act tanker market during the last few months, leaving very limited shipping capacity available until the end of 2020. ” New time charter contracts are done Source: http://www.tradewindsnews.com

November 20, 2019
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US investor takes 10% stake in tumbling Top Ships

A Florida-based investment management firm is taking a notable wager on Top Ships, whose shares keep falling after a recent one-day plummet. Intracoastal Capital has bought 950,684 common units in the Evangelos Pistiolis-led tanker owner, reflecting a 9.99% stake in the Source: http://www.tradewindsnews.com

November 18, 2019
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New VLCCs help HMM to ‘remarkable’ loss reduction

South Korean owner HMM has cut its third quarter loss as its new DSME-built VLCCs prospered in stronger markets. The company, which also owners boxships and bulkers, said the operating deficit was 62% lower at KRW 46.6bn ($39.8m), a result it called “remarkable.” “In particular, bulk business turns an operating profit of KRW 26.6bn attributed to strong freight rates and optimal utilisation of five VLCCs delivered this year,” it added….

November 14, 2019
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d’Amico eyes sales of older MRs after narrowing third-quarter losses

Product tanker specialist d’Amico International Shipping (DIS) is planning to sell older vessels after completing its large newbuilding programme. Since 2012, the Milan-listed shipowner has ordered seven LR1s, 10 MRs and six handysize vessels for $755m to renew its fleet. The average age of DIS’s fleet has now been reduced to 6.5 years old after the last ship in the programme, a scrubber-fitted LR1, was delivered in October. Speaking with…

November 13, 2019
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Six Unauthorized Persons Attempt to Board Tanker Underway in Singapore Straits

Published on November 12, 2019 by Johanna Loock   ·   No Comments November 05, 11:48 UTC: Six persons in two speed boats approached a tanker underway in the Singapore Straits (posn 01:12.6N – 103:34.3E). Duty crew noticed the persons attempting to board the tanker and raised the alarm. Master increased the speed and took evasive manoeuvres resulting in the persons aborting the boarding attempt. Source: ICC Tags:  Piracy, Singapore Strait, Tanker,…

November 12, 2019
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Attempted Boarding of Tanker Berthed at Belawan Port, Indonesia

Published on November 12, 2019 by Johanna Loock   ·   No Comments November 07, 19:00 UTC: During security rounds, crew onboard a tanker berthed at Belawan Port, Indonesia (Posn: 03:47.2N – 098:41.8E) noticed one unknown person trying to board the vessel using a grappling hook. Upon being noticed, the person escaped. Incident reported to port Authority. Source: ICC Tags:  Belawan, Indonesia, Tanker, attempted boarding, maritime crime

November 12, 2019
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Odfjell: IMO 2020 fuel spread may not be ‘very scary’

Norwegian chemical tanker owner Odfjell has downplayed fears of a big difference between the price of high-sulphur bunkers and IMO 2020-compliant fuels next year. “We are 54 days away from IMO 2020, and it’s astonishing that the industry does not have a better understanding of what’s actually going to happen,” Source: http://www.tradewindsnews.com

November 12, 2019
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Empire Navigation tied to sale of 10-year-old MR tanker

Greek tanker owner Empire Navigation has reportedly sold a 10-year-old MR product carrier as the company works to renew its fleet through an extensive newbuilding programme. Brokers in the US and in Europe said the Stamatis Molaris-controlled company has sold the Source: http://www.tradewindsnews.com

November 11, 2019
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MPC Capital builds tanker influence by buying into broker Albis

German shipping asset manager MPC Capital has continued to expand in tankers after buying into compatriot broker Albis Shipping & Transport. MPC said it has acquired 50% of the Hamburg-based company for an undisclosed price. Albis, led by Kim Moller, operates a market-leading commercial platform for tankers of various sizes, offering tailor-made solutions for chartering and operations, it added. MPC’s newly established unit Ahrenkiel Tankers is already technically managing a…

November 11, 2019
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Boarding and Attempted Theft Aboard Tanker at Dumai Inner Anchorage, Indonesia

Published on November 7, 2019 by Johanna Loock   ·   No Comments October 08, 19:20 UTC: Duty officer on board a tanker at Dumai Inner Anchorage (posn: 01:43N – 101:26E) noticed four robbers on deck and informed Master. Alarm raised, crew mustered and PA announcement made. The robbers escaped without stealing anything and a search carried out. Incident reported to local agent. Source: ICC Tags:  Dumai Inner Anchorage, Indonesia, Tanker, attempted…

November 7, 2019
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