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Daily Briefing September 25 2019

Free to read: Scorpio Tankers buys 19 product tankers from Trafigura | Leasing companies poised to grow tonnage with BSM China | Stena Impero still in Iran, says owner | Hafnia bets on spot market as rates soar

Good morning. Here’s our quick view of everything you need to know today.

The Lloyd’s List Daily Briefing is brought to you by the Lloyd’s List News Desk.

What to watch   |   Analysis   |   Opinion   |   Markets   |   In other news




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What to watch


Scorpio Tankers is buying 19 product tankers from commodity trader Trafigura in a deal valued at $803m.

Cargo owners, along with the likes of Shell and BHP, have spawned new shipmanagement opportunities by opening up tenders for long-term ship charters to non-traditional shipowners.

The British-flagged tanker detained by Iran in July is still in the country, despite Iranian officials saying it was free to leave, the vessel’s owner has said.


Analysis


New trade patterns and trading links will be established as the spat between the US and China continues to escalate and cargo owners look for alternative sources. Consumer spending will continue to support the container market in the long run.


Opinion


The second-largest product tanker pool manager, Hafnia, is placing most of its fleet in the spot market rather than chartering them out for longer periods of time to take advantage of the improving freight environment. The company is seeking to build on the tanker industry’s reversal of fortunes, writes Inderpreet Walia.


Markets


Weston LaBar, chief executive of the Harbor Trucking Association, tells Lloyd’s List how to boost output through the San Pedro Bay Port Complex, also known as the ports of Los Angeles and Long Beach.


In other news


Dan-Bunkering, a Denmark-based international bunker supplier, is being probed by state prosecutors in connection with alleged breaches of European Union sanctions on Syria.

FDX Offshore, the maritime boutique finance firm backed by the family office of former GE Capital chairman and chief executive officer Denis Nayden, has acquired tanker pool operator Womar Logistics.

Greece’s ferry fleet has been idled in port and some cross-Adriatic Sea departures suspended due to a 24-hour strike.

Kyklades Maritime, a Greece-based tanker company, has ordered another two suezmaxes at Hyundai Samho Heavy Industries.

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