Marine Insurers (H&M) adopt the Poseidon Principles:
The Poseidon Principles for Marine Insurance (PPMI) are entering into force, with AXA XL and Navium Marine joining as signatories, reaching, and surpassing, the threshold of eight. The PPMI is a global framework for measuring and publicly reporting...
Estimated reading time: 1 minute
Poseidon Principles has been in force in the Marine Finance business for some time.
Many here are probably familiar with Q88, with accurate date on ships, especially tankers and large bulker?
Veson Nautical, a provider of maritime freight software, has acquired Q88, an information management and software platform for the shipping industry. Founded in 2001, Q88 has been building digital solutions for the marine freight industry for 20...
Estimated reading time: 1 minute
Singapore is the place to be if you are in Ship Management:
Japanese shipping major Kawasaki Kisen Kaisha (K Line) has decided to relocate its tanker management operations from Tokyo to Singapore. Effective this September, all the oil tankers, LPG and LNG carriers controlled by K Line Energy Ship Management...
Estimated reading time: 1 minute
The big boys in shipping is looking for more:
John Fredriksen has blasted the so-called poison pill tactics deployed by senior management at International Seaways. Fredriksen, who has recently emerged as the largest shareholder in the US-based tanker firm with a 16.6% holding, hit out at the...
Estimated reading time: 2 minutes
Israeli billionaire Idan Ofer has been revealed as a major shareholder in Norwegian owner Awilco LNG. In a filing to the Oslo Stock Exchange, it has emerged that Ofer vehicle EPS Ventures, a subsidiary of Quantum Pacific Shipping, acquired around...
Estimated reading time: 1 minute
Also in Offshore Marine:
Arne Blystadâs Songa Capital has entered into an agreement to purchase just under 10.9m shares in Norwegian offshore vessel operator Siem Offshore. Following the completion of the acquisition, Songa Capital will own 14.3m shares and voting rights in...
Estimated reading time: 1 minute
Things are afoot in the P&I market;
With a little over two weeks now until the North and Standard Club votes are counted, the number one item on almost every other International Group (IG) clubâs agenda is how this proposed merger will impact upon the other clubs and what the...
Estimated reading time: 3 minutes
International Seawaysâ Management has replied:
US tanker owner, International Seaways, has responded to John Fredriksenâs charge against the so-called poison pill deployed as a defensive strategy. Fredriksen has recently emerged as the largest shareholder in International Seaways with a 16.6%...
Estimated reading time: 2 minutes
Modern shipping explained!!
Photo: Dale E.Crisp (c)
What a great example of modern shipping:
Registered owner is Oriental Fleet Tanker No 16 Ltd,
Beneficial owner is COSCO Shipping.
The shipâs long-term charterer is the Restis Group of Greece,
Technically managed by their subsidiary; Enterprises Shipping & Trading.
Traded by another subsidiary; Golden Energy Navigation.
Operated by SeaRiver Maritime of the USA, which is ExxonMobilâs tanker arm.
Flag: Isle of Man, UKEnergy Athena â ENTERPRISES SHIPPING & TRADING S.A.
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What does John Fredriksen want with all those VLCCs??:
The only time I have plucked up the courage to go and talk to John Fredriksen was at a Posidonia party many years ago. Noticing brokers had left him alone for a millisecond, I sidled up to him, congratulated him on a recent very successful deal he...
Estimated reading time: 3 minutes
The answer is here, if you are a subscriber.
If not, here is a hint:
The owner of Frontline, Norwegian billionaire John Fredriksen, said that the merger would âestablish a market leader in the tanker marketâ. In total, the merger is set to create a company with a total market capitalisation of more than $4.2 billion.
BTW; John Fredriksen is a self-made Billionaire, Norwegian born but now a Cypriot citizen living in UK:
Shipping Exhibitions are back with a vengeance:
Iâll admit to a sensory overload and greater exhaustion than normal after attending my first shipping events in more than two and a half years this week. The lights, the noise, the people â it was rammed at Posidonia wherever you went. The exhibition...
Estimated reading time: 2 minutes
At multiple conferences throughout the week big names in Greek shipowning repeatedly let it be known that they will not be leading the green newbuild charge, happy instead to wait for others to take the plunge and then give a bit of time for the dust to settle on proven next generation technologies. Indeed a noticeable difference this time around at Posidonia was the severe lack of headline-grabbing newbuild orders from the Greeks.
Some Greek Shipowners may be different from the majority:
Greek liquefied natural gas (LNG) shipping player GasLog has teamed up with South Koreaâs Daewoo Shipbuilding and Marine Engineering (DSME) and American class society ABS to develop an onboard CO2 capture and storage system (CCS). Under a joint...
Estimated reading time: 1 minute
Sanctions force Sovcomflot to get innovative:
Russian shipping has come up with both domestic and Asian solutions to keep its fleets operating during the ongoing war with Ukraine. Faced with an ever growing range of sanctions in the near four months since war began Moscow has had to get creative...
Estimated reading time: 2 minutes
Shipping news in a different way:
Steven Jones on the curious sense of paralysis he sensed at this yearâs Posidonia. âThat is where the Ferrari hit the tree. So sad. All these rich young guys racing so fast.â These were the first words my wise old Athenian taxi driver had said all...
Estimated reading time: 5 minutes
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A titan in the shipping world, both in Singapore and international, is preparing for his retirement:
After two terms spanning six years Esben Poulsson steps down from his role as chairman of the industryâs top lobbying group, the International Chamber of Shipping (ICS), this week. As one of his parting messages, Poulsson urges shipping to remain...
Estimated reading time: 4 minutes
He started his career at sea and has held positions in Shipping in Copenhagen, London, Hong Kong and Singapore, which has been his adopted home for many years:
To Esben Poulssonâs storied career another title can be added: published author. Somehow shippingâs busiest man has found the time to pen his autobiography, A life in shipping, all proceeds of which are going to the Mission to Seafarers. The...
Estimated reading time: 2 minutes
Keen to hear more from one of shippingâs great diplomats â check out Esbenâs memoirs, available to buy from the Mission To Seafarers here .
