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  • Foresight linked to $19m VLCC scrap sale

    UK-based Foresight Group has sold a 20-year-old VLCC for demolition. The 306,000-dwt Agra (built 1999) is said to have been offloaded as is in Singapore for $452 per ldt or $19.1m. Sources said it is likely the ship, which has up to 1,000 tons of bunkers, will be scrapped in Bangladesh. VesselsValue assesses the tanker as worth $19.29m for further trading and scrap. Ravi Mehrotra-chaired Fores

    Tankers  tradewindsnews.com 2 minutes old Gary Dixon and Trond Lillestolen

    China spends over $1bn in three months on secondhand ships

    China has taken just over three months to become the first country in 2019 to spend more than $1bn buying secondhand ships, data shows. It took Chinese buyers just 94 days to break the billion-dollar level, according to data provided to TradeWinds by VesselsValue.com. But although 94 days is fast, it's not quite as fast as a spree five years ago by one of China's biggest shipowning rivals. Gree

    Ship Sales  tradewindsnews.com 16 minutes old Holly Birkett

    Product tanker capital of the world shows clockwork growth

    Strong national affiliation with shipping continues to drive talent pool and earnings opportunities at the top tanker owners in the business

    Weekly  tradewindsnews.com 18 minutes old Andy Pierce

    Fearnley Securities sees sparkle in enlarged Diamond S Shipping

    Promise of rising profitability and strong cash flows have led Fearnley Securities to take up coverage of Wall Street newcomer Diamond S Shipping with a buy rating. Analysts Espen Landmark Fjermestad and Peder Nicolai Jarlsby began coverage with an $18.2 per share target price on what is now a 68-ship company. “Following a merger with Capital Product Partner’s tanker fleet Diamond S has finally

    Tankers  tradewindsnews.com 48 minutes old Andy Pierce

    Stolt-Nielsen man replacing Richard Sadler at GasLog

    New York-listed GasLog and GasLog Partners have found a successor to Richard Sadler as their chief operating officer (COO). Stolt-Nielsen executive Paolo Enoizi will start in the role in August from Piraeus in Greece. He will work alongside Richard Sadler to ensure a smooth transition of responsibilities, the companies said. GasLog secures 12-year newbuild charter with JERA GasLog newbuilding

    Gas  tradewindsnews.com 56 minutes old Gary Dixon

    Jan De Nul demands cash from Uljanik Shipyard

    Belgian group Jan De Nul is demanding repayment of all instalments paid to Croatia's troubled Uljanik Shipyard after it cancelled a dredger there. It also wants interest on top, but no final amount has been revealed. Government collateral had been pledged for some of the sum, the shipbuilder said on Tuesday. Siem still keen on car carrier newbuild at crisis-hit Uljanik Croatia turns to China f

    Shipyards  tradewindsnews.com 1 hours old Gary Dixon

    First Vietnamese-built cruiseship sets sail

    Vard-built Coral Adventurer has bucked the trend of delays plaguing other newbuildings in the expedition cruise sector.

    Passenger ships  tradewindsnews.com 2 hours old Jonathan Boonzaier

    Sadan Kaptanoglu opens up on her plans as Bimco president

    Third-generation Turkish shipowner will become the first woman to lead the international shipping association, where the environment will top her agenda

    Tankers  tradewindsnews.com 2 hours old Jonathan Boonzaier

    VLCC giant Bahri starts stronger as rates rise

    Saudi Arabian tanker giant Bahri has increased earnings in the first quarter as rates strengthened. The VLCC owner said net profit to 31 March was SAR 179.33m ($47.82m), from SAR 123.14m a year ago. Revenue jumped to SAR 1.7bn from SAR 1.45bn. The bottom line was boosted by an improvement in some of its business units and an increase in rates in general, despite a rise in financing costs, it sa

    Tankers  tradewindsnews.com 2 hours old Gary Dixon

    EMGS wins another contract in south-east Asia

    Electromagnetic Geoservices (EMGS) has been awarded a multi-year contract in south-east Asia worth up to $73.3m from "one of the world's largest national oil companies", it said. EMGS' 103-metre research vessel Atlantic Guardian (built 2001) will be employed under the contract for up to two years, the shipowner said in a release on Tuesday. "This letter of award from a repeat customer, togethe

    Offshore  tradewindsnews.com 2 hours old Holly Birkett