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Daily Briefing 31 August, 2017

Summary: how Harvey has hit US Gulf shipping

Strong impact on seaborne oil and gas trades while other sectors also face severe disruptions

US States Tankers and Gas LNG

Results Round-up

Dry bulk owners see losses narrow as tanker market weakens

Finance Ship operations

State subsidy for LNG sees German owners pocket $36m

Move follows similar decision from South Korea last year

Europe Germany Bunkers

Norwegian competition authority approves Samskip takeover of Nor Lines

Authority says transaction will not significantly impede competition

Europe Norway Containers

Olam acquires four secondhand ultramaxes to enter shipowning business

The deal was sealed at $80m, broker reports

Asia Pacific China Singapore

MTI trials blockchain for VGM processing

Distributed ledger system seeks to address issues of transparency and security

Europe North America Containers

Hurricane Harvey sends Caribbean aframax rates through the roof

US crude inventories increase by 1.4m for every day of hurricane damage, a development expected to result in pent-up exports

US States Tankers and Gas Suez and Aframax

DryShips issues $100m offering after Economou ups stake

New rights offer follows chairman's $100m private placement

North America United States Dryships

Scorpio Tankers could complete Navig8 Product Tankers takeover by Friday

Majority of Navig8 Product shareholders vote for merger

Europe Monaco Norway

Marine cyber insurance struggles with coverage gap

Large shipowners should seek coverage with limits 10 times those of readily available product, says expert

Asia Pacific Singapore Insurance


Daily Briefing 31 August 2017






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