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

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

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….

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…

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

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

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…