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Keep informed with daily analysis and insight into shipping’s relationship with financial markets including company results, credit reports and investment decisions

Eagle Bulk seeing signs of global economic recovery

The company says it will likely achieve the highest time charter equivalent rates in more than nine years in the first quarter given the rising market, particularly for supramaxes in which it specialises

International Dry Bulk

Seadrill writes down $2.9bn on rigs

Offshore driller Seadrill announced a $2.9bn impairment charge for last year after it filed for bankruptcy protection in Texas in February. The Fredriksen-controlled driller said demand would stay low this year, with some recovery in 2022

International Offshore

ABN AMRO shipping head downplays ships as ‘stranded assets’

ABM AMRO’s Joep Gorgels does not expect to see ships becoming stranded assets for ‘many, many years’ as they will be needed to power global trade

International Finance

CMA CGM bolsters Mediterranean port presence with Spanish deal

CMA CGM agrees deal with HMM to take a minority stake in Total Terminal International Algeciras, marking the company’s second fresh venture in the region this year. The French shipping giant signed off a deal to manage and operate Alexandria’s new multi-purpose facility in late January

Europe France

FSL sells another product tanker

Three years ago Greece-based Prime Tanker group acquired control of First Ship Lease Trust and set its sights on renewing the fleet, shedding containerships as well as several of its tankers

Europe Greece

Tanker linked to Lim family arrested in Singapore

German lender Hamburg Commercial Bank is one of several foreign banks exposed to Hin Leong Trading shipowning affiliate Xihe Holdings seeking to recover loans as part of an insolvency process

Singapore Tankers and Gas

Genco chief sees ‘perfect rainbow’ over dry bulk market

Genco’s chief executive says demand for coal, grains and minor bulks, has kept rates buoyant for the smaller sizes. But, capesize rates, currently the weakest, should bounce back by April

Dry Bulk United States

Shipping’s transparency revolution

Global trade efficiency relies on it, shipping’s decarbonisation transition demands it and both financial and security regulators are monitoring it — the maritime sector’s future is focused on issues of transparency at every level

Finance Technology and Innovation

Why ESG must go much further than climate change issues

ESG is part of a growing interest in corporate transparency and stakeholders’ expectations are evolving quickly. Although voluntary approaches do not seem to be changing perceptions, mandatory laws will likely follow

International Environment

Japanese ship finance firm launches $5.7bn green fund

‘Maybe there will be technologies that are far better than liquefied natural gas, but today what is important is to take action. We think LNG is the best technology that is available for today,’ said CMA CGM chief executive Rodolphe Saadé

Japan US States

Torm buys eight MR tankers for cash and shares

Update: Company head says it was the right time to expand its fleet. It sees itself as a consolidator in the product tanker market

Tankers and Gas Sale and Purchase

Keppel to be compensated for Chinese port closure

Keppel expects to yield a gain of more than $28m from the agreed compensation

Singapore China