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1  Shipspotters all over the world / Shipping News and information / Crude oil tanker oversupply manageable, but should be eliminated on: November 04, 2017, 04:54:28 am
The tanker market is oversupplied by about 30 to 40 VLCCs and 20 to 30 Suezmaxes, but the sooner this can be eliminated, the sooner freight markets will recover, Paddy Rodgers, CEO of the Antwerp-based tanker giant, Euronav, told Fairplay.

“If we can see our ‘bathtub’ move into a better balance via a net reduction in the global fleet then the inflection point in the cycle will come quicker,” Rodgers said.

By the bathtub he referred to the age profile of the VLCC and Suezmax fleets. Most of the tonnage is modern, which gives the profile a high and broad bulge above a narrow base that represents ageing vessels.

The same applies in reverse to the newbuilding orderbook, as most of the crude oil carriers are due to enter service in the next two years, with little supply due after that year.

As far as VLCCs are concerned, Euronav expects 48 deliveries in 2018 followed by 33 the following year. In the case of Suezmaxes, the figures are 33 and 9 respectively.

Neither the oversupply nor the orderbook appear huge when compared to the existing fleets in these two size categories.

Figures from the IHS Markit database show that there are 716 VLCCs with a combined dw tonnage of 220.0 million currently in service and that the present day Suezmax fleet consists of 515 ships that have a combined tonnage of 80.3 million dwt.

The demand for crude oil remains robust. Euronav pointed out in its third-quarter interim report that the IEA had raised its 2017 global oil consumption growth forecast to 1.6 million bpd from 1.2 million bpd during the course of the year.

The company has calculated that the 1.6 million bpd growth in demand creates work for 49 VLCC equivalents, whereas the 1.2 million figure only brings work to 37 units.

Euronav has based its calculations on factoring the carrying capacities of VLCCs and Suezmaxes into a synthetic concept of VLCC equivalents to facilitate projections of future tonnage need and supply.

Despite the current benign demand situation, removal of ageing vessels remains high on the agenda of the Euronav top brass as Hugo de Stoop, CFO, stated in the company’s third-quarter interim conference call. “If the market becomes considerably better, that will absorb the new tonnage little bit faster but we continue to insist on saying that the old ladies can go,” he said.

Likewise, owners should refrain from ordering tonnage that would be surplus to requirements. “The duration of a challenging freight rate environment will remain dependent on the number of additional newbuild orders that are not needed by the market,” Euronav said in its third-quarter interim report. “Scrapping/fleet removal trends need to be extrapolated further before an inflection point can be reached.” 

Continued high pace of newbuilding orders combined with a slowdown in demolition sales, could in an extreme case, have very negative consequences. The present low freight rates result from oversupply of tonnage, not weak demand.

However, should the global economy start to encounter headwinds and the demand for oil weaken, the tanker industry could steam into the next recession with a vast oversupply of tonnage, according to Rodgers.

“Again, anything is possible and clearly demand will be impacted the higher the oil price goes; we think it remains demand stimulative to around USD70 per barrel but the recent rise has been based on strong demand as well as restricted supply.”

Source IHS
2  Shipspotters all over the world / Shipping News and information / HMM ‘undecided’ on rumoured 20,000 teu box ships order on: November 04, 2017, 04:40:08 am
Hyundai Merchant Marine could order 20,000 teu container ships in order to boost its competitiveness against its larger peers, according to a South Korean news site.

MTN claimed that the orders could be placed in March 2018 for delivery in 2021. By then, HMM’s fleet of container vessels would be increased from 350,000 teu to 600,000 teu.

A spokesman for HMM told Fairplay that the company had yet to decide on ordering more newbuildings, having already ordered five VLCCs and two 11,000 teu container ships this year.

The spokesman said, “HMM is reviewing and discussing with industry experts on various ways to grow further as a global carrier. However, there has been no decision made about ordering new container ships. The vessel size, when to order, and how these will be financed are all undecided.”

HMM is now the country’s flagship carrier after Hanjin Shipping’s collapse in February.

The liner operator itself pulled off a remarkable escape from bankruptcy in June 2016 after reaching agreements with its bondholders and tonnage providers and raising more than USD1 billion from a string of asset sales.

In July, at KDB’s request, international consultancy AT Kearney carried out an assessment that showed HMM would need KRW10 trillion to build large container ships and acquire terminal assets.

KDB chief Lee Dong-geol told a parliamentary session in October that the state policy lender, which is now HMM’s largest shareholder and creditor, is reviewing AT Kearney’s suggestion of providing a war chest.

HMM’s collaboration with the 2M alliance comprising Maersk Line and Mediterranean Shipping Company expires in March 2020 and given its relatively small size among liner operators amid the current wave of consolidation, the company may find the going tough should it find itself without an alliance partner.

The largest container ships in HMM’s fleet are only 13,000 teu, while the company’s rivals have been ordering and taking delivery of vessels with capacity nearing 20,000 teu. There is therefore concern that HMM could lag behind its competitors.

On 13 October, HMM sold shares to raise USD614 million for newbuilding plans and recently placed firm orders for five VLCCs, with options for another five tankers, with Daewoo Shipbuilding & Marine Engineering. The company also ordered two 11,000 teu container ships from Hanjin Heavy Industries & Construction.

MTN reported that the proceeds from the share sale are expected to be partly used to finance HMM’s new series of newbuildings. The 20,000 teu container ships are expected to require KRW200 billion, while the government’s recently created ship finance provider, Korea Shipping & Maritime Transportation, would cover the remaining costs.

The company now owns eight overseas terminals, including the recently purchased terminal that Hanjin Shipping used to operate in Algeciras, Spain.

It has also announced plans to develop ports in Vietnam as part of a wider plan to own more terminal assets in Southeast Asia to take advantage of lower handling costs and help restore profitability.

Robert Willmington, IHS Markit shipbuilding analyst, said, “HMM will be compelled to order new ULCS tonnage sooner rather than later simply to maintain its present market share. With only two 11,000 teu ships presently on order, HMM has the smallest orderbook of all the intercontinental ocean carriers. Furthermore, its largest ships have a capacity of 13,000 teu during a period when most major carriers are moving towards ships in excess of 18,000 teu.

“Clearly it has no choice but to place orders in the near future otherwise HMM will become a minor vessel operator at best. As the company is now virtually the South Korean flag carrier there is a will on the part of the company, and indeed the South Korean government, to ensure HMM exceeds by expansion. For these reasons we expect HMM will soon place an order for large box ships at a domestic shipyard.”

Source IHS                           
3  Shipspotters all over the world / Site related news, functions and modules / Re: SITE OFFLINE FOR MAINTENANCE on: October 22, 2017, 02:41:26 am
Thanks to the people, who solved this problem.


4  Shipspotters all over the world / Site related news, functions and modules / Re: Coinhive threat warning on: October 19, 2017, 01:49:31 am
I recive this message from my virus scan. Mailware or virus Huh?

Schadelijke website geblokkeerd;topic=15952.0;num_replies=0&
5  Shipspotters all over the world / Site related news, functions and modules / Re: Coinhive threat warning on: October 15, 2017, 03:00:13 pm
I recive this warning ,of this site: This website has been reported as harmful.
We recommend not visiting this website.;topic=15939.0;num_replies=29&

Is there a virus in this site Huh?
6  Shipspotters all over the world / Shipping News and information / Heavy lift JV BigRoll falls apart on: October 10, 2017, 10:18:48 am
Dutch heavy lift joint venture BigRoll is going to be unwound from 1 January, only four-and-a-half years after its formation.

Spliethoff group company BigLift, a 50% partner in BigRoll, issued a statement on Monday saying that it “has decided to end its co-operation with Rolldock Shipping in the joint venture … as per 1 January 2018”.

Two of the module deck cargo ships contracted for the joint venture company – the 20,157 dwt BigRoll Barentsz (renamed BigLift Barentsz) and 20,081 dwt BigRoll Baffin (renamed BigLift Baffin), both delivered in 2016 – are going to be transferred to BigLift for future operations while the other two (20,157 dwt BigRoll Beaufort and BigRoll Bering) have already been placed with Rolldock Shipping.

A representative of BigLift, which operates 14 heavy-lift ships in total including the two module carriers, cited “different opinions about the commercial strategy of the company” as reason for the split. Ongoing contracts and tenders of BigRoll Shipping, though, would still be executed in co-operation with Rolldock, BigLift said.

BigRoll was launched back in 2013 for the transportation of ultra large and heavy modular cargoes, with contract gains including a multiyear contract of affreightment with Yamgaz, the consortium of Technip, JGC Corporation, and Chiyoda for the Yamal LNG project in the Russian Arctic.

At the time, the partners said they were jointly looking to provide “first-class solutions” to project shippers across the offshore and onshore oil and gas sectors, renewable energies, power generation, container cranes, and shipyard industries.

Source IHS
7  Shipspotters all over the world / Shipping News and information / CMA CGM bumps up profits and confirms mega ship order on: September 19, 2017, 04:23:19 am
Leading container shipping group CMA CGM has confirmed plans to order nine 22,000 teu container ships after returning a sparkling set of second-quarter (Q2) 2017 financial results.

The Marseilles-based group had been widely reported to be planning to order the new giant vessels and last month two Chinese shipyards announced that they had signed letters of intent for the vessels, which would be the biggest ordered to date if approved by the CMA CGM board.

The group has now announced that its board has approved the order, which it says is intended to enable it to keep up with market growth and its own transport needs. It said that the first of the new vessels would come into service in late 2019.

It confirmed the order as part of its announcement of its second-quarter financial results, which showed a USD216 million net profit after its USD129 million loss in the second quarter last year.

Revenues soared 57% year on year to USD5.55 billion and container carryings jumped 33% to 4.74 million teu.

Integration of the APL group was a major factor in the strong growth in cargo volumes but the group said that it had also benefited from the launch of Ocean Alliance on April 1 this year and greater industry dynamism.

The increase in volumes, coupled with rising freight rates, was reflected in the group’s revenues, which the group said had increased by 12.5% per container in the second quarter.

APL was also a big contributor to the group’s profits. The group’s core EBIT stood at USD472 million, compared with a USD81 million deficit in Q2 2016. CMA CGM said that APL alone had contributed USD137 million to this result.

Group chief executive Rodolphe Saade said that the group’s results had been “excellent”.

“Once again, CMA CGM outperforms the industry and demonstrates the excellence of its operational management as well as the relevance of its strategy,” he said.

The group is bullish about its prospects for the remainder of the year, saying that it expects to improve on its operating results in the second half, assuming that freight rates continue to improve and that there is no major change in fuel prices and exchange rates.

The second quarter results confirm CMA CGM’s return to strong form after it came back into profit in the final quarter of last year. In the first quarter, it returned a net profit of USD86 million after its USD452 million full-year loss in 2016.

By comparison, market leader Maersk Line reported a profit of USD339 million in the second quarter after a USD151 million loss in the corresponding quarter in 2016, while its revenues rose 21% to USD6.1 billion. However, its cargo volumes rose only 2% to 2.7 million feu.

It said that average freight rates had improved 22% over Q2 2016 and 8% over Q1 2017.

Source IHS
8  Shipspotters all over the world / Shipping News and information / Cosco Shipping Ports buys Zeebrugge terminal from APM Terminals on: September 13, 2017, 09:15:21 am
COSCO Shipping Ports announced a major new incursion into the European ports sector today in the form of an agreement to take over from APM Terminals as majority shareholder in APM Terminals Zeebrugge (APMTZ).

The Chinese group, which has made a number of investments in the European ports sector in recent months, is to buy out its partners, APM Terminals and Shanghai International Port Group (SIPG), for EUR35 million (USD42.04 million).

Under the terms of the agreement, which the two parties hope to finalise by the end of November, APM Terminals, which has a 51% holding in the terminal, will acquire the 25% held by SIPG and then sell the resulting 76% holding to COSCO Shipping Ports.

APM Terminals opened the Zeebrugge terminal in 2004 and sold COSCO its existing 24% stake in 2014.

COSCO Shipping and its Ocean Alliance partners are currently the port’s major customers and have a long-term interest in developing cargo volumes at the port, according to APM Terminals.

COSCO Shipping Ports said today that the Zeebrugge terminal would be the first in north west Europe in which it would have a controlling stake.

“The company believes that, holding a controlling stake in APMTZ aligns with the company’s stated strategy of developing a comprehensive and well-balanced global terminals network.”

It added that the acquisition would also help it to follow the development of the regular line network of fellow COSCO group member, COSCO Shipping Lines.

Wim Lagaay, head of APM Terminals USA and Europe, said that the group’s decision to sell its interest in the Zeebrugge terminal corresponded to its strategy of concentrating on its long-term assets.

“We believe COSCO Shipping Ports is the right long-term owner of the Zeebrugge facility and will continue to grow the port for customers, employees, and the Zeebrugge stakeholder community.”

The Dutch group pointed out that the two groups were already partners in major container terminals in Egypt and China, while, in October 2016, COSCO Shipping Ports acquired a 40% stake in APM Terminals’ Vado Holding in the Italian port of Vado.

Vado Holding owns the 300,000 teu annual capacity reefer terminal at the port of Vado, but is also set to take full control of Vado Container Terminal, a new 600,000 teu annual capacity deepwater facility due into service next year.

COSCO Shipping Ports has made a number of other major investments in the European port sector in recent months.

In May 2016, it acquired a 35% interest in Euromax Terminal Rotterdam (Euromax) for EUR41.43 million from Hutchison Port Holdings subsidiary ECT Participations. The automatic terminal, which came into service in 2010, is currently being expanded to take its annual handling capacity to 3.2 million teu.

Also last year, the company strengthened its position at the leading Greek port of Piraeus, where it has been an operator since 2009. It paid EUR280.5 million (USD314 million) for a 51% shareholding in the port as part of a plan to develop it as a hub for trade between Asia and eastern Europe.

Most recently, in June this year, it announced that it had agreed to buy a 51% holding in Spain’s Noatum Port Holdings from holding company TPIH for EUR203.49 million (USD244.44 million). The deal gives it a controlling interest in container terminals in the ports of Valencia and Bilbao, as well as two rail terminals.

Source IHS
9  Shipspotters all over the world / Shipping News and information / Mega container ship order considered trend-anomaly on: September 05, 2017, 08:35:32 pm
CMA CGM's latest order for nine mega container ships will not spark a buying spree, according to one broker, but the price for the large vessels appears to have stabilised.

CMA CGM’s latest deal for nine 22,000 teu container ships from Chinese yards – the first ultra-large container ship order since 2015 – is not expected to inspire to a rash of orders akin to that seen in 2013–15.

Ranulf Swallow, a broker at Braemar ACM told Fairplay, “The alliances are all set up now and they have structured their services with all the large vessels that they need, and with the industry consolidation there is no reason for the other lines to follow suit."

In total IHS Markit Maritime and Trade figures show that 90 ships totalling 1.799 million teu have been ordered since 2013 with the latest order from CMA CGM adding a further 198,000 teu.

Mega-container ship prices hovered at around the USD160 million mark at time of press, a little under the USD163 million price tag seen for Maersk’s last Triple E order at the Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea. It is of note that the Triple E vessels were fitted with IMO Tier II engines, and vessels with tier II engines ordered from Chinese yards bore a sticker price of  around USD155 million.

CMA CGM did pay USD145 million per ship for a series of three 20,000 teu vessels in 2015 from Hanjin Heavy Industries and Construction, Philippines. However, this pricing was considered an exception from the norm, mainly due to low labour costs in the Philippines.

In its latest order, CMA CGM has signed a letter of intent for nine vessels at a reported USD160 million each, but the order has yet to be confirmed. However, yards often lay a number of keels, prior to the enforcement of new rules to “skirt around regulations”, according to one shipyard industry insider.

Tier III NOx regulations came into force in January 2016, but some yards are still offering Tier II slots, which will reduce the final price of the vessel. The insider said that the yards “offer cheap rates to close clients”.

There is no suggestion that CMA CGM has managed to “skirt” the Tier III regulations in this way, and when Fairplay contacted the line for a comment on the letter of intent, a spokesperson said, ”We cannot confirm the order, we never comment on market rumours.”

Source IHS
10  Shipspotters all over the world / Shipping News and information / Germany’s Harren takes over ‘K’ Line heavy-lift unit SAL on: July 27, 2017, 03:16:00 am
The family-owned German shipowner Harren & Partner has reached an agreement with Japanese shipping major ‘K’ Line to take over the latter’s heavy-lift carrier SAL, headquartered in Hamburg, along with its fleet of 15 multipurpose heavy-load vessels.

The deal was closed after lengthy negotiations, which are believed to have been dragging on since autumn 2016, and will come into effect from tomorrow, 27 July, according to a statement issued by Harren & Partner on Wednesday.

The Bremen-based owner of a diversified fleet of container vessels, dry cargo ships, tankers, and other types is already active in heavy-lift shipping both as asset owner and operator of ships through its group affiliate Combi Lift.

The joint fleet of Harren and SAL comprises 26 units, 23 of which will fall under central commercial management by SAL in the future. The employment of the other three units remains unclear. They may be operated within the BHS pool, which was jointly set up by Harren and Leer-based owner Briese a few years ago.

The company’s managing director, Martin Harren, said in a press release that SAL’s integration into Harren & Partner would allow it to take a more dominant position in the premium heavy-lift segment, which would help increase “pricing discipline” in the sector. Freight and charter rates in the project cargo/heavy-load segment reached new lows early this year, with average vessel earnings far below daily running costs.

The purchase price was not disclosed. Harren’s management was also not available to clarify the financing of the transaction and whether ‘K’ Line itself and/or the financing banks of SAL’s ships will remain involved as lenders to Harren for the takeover.

The company has a track record of co-operating with private equity investors and investment banks such as Goldman Sachs and JP Morgan for some years. It has also just placed newbuilding contracts for a number of tugboats and barges to support project cargo shipments for the Amur gas processing plant project in eastern Russia at a time when most other German shipowners are struggling to cover their daily expenses.

The integration of SAL into Harren would see the heavy-lift carrier assume all control over heavy-lift vessel operations within the group, while sister company Combi Lift would switch its focus to project logistics, engineering, decommissioning, and salvage solutions, the group said.

Source IHS Fairplay
11  Shipspotters all over the world / Shipping News and information / Re: Berge Stahl back into service until 2021 on: April 19, 2017, 03:53:51 am
Will she be calling Europoort again?

No,now she sail between China and Brasil for the comming years Frans.
12  Shipspotters all over the world / Shipping News and information / Berge Stahl back into service until 2021 on: April 18, 2017, 09:59:51 am
Berge Stahl Re-approved until the end of 2021.All certificates have been renewed.She is now en route to Tubarao Brazil.

13  Shipspotters all over the world / Site related news, functions and modules / Re: New Category: First photo / obstructed view??? on: March 20, 2017, 07:15:44 am
Not all IMO numbers arevisible on the ships.


14  Shipspotters all over the world / Help and Advice / Re: Stolen photos on Instagram on: February 25, 2017, 06:34:08 am
His page is no longer available.
Thanks for your effort David.

15  Shipspotters all over the world / Help and Advice / Re: Copyright abuse - Shelby80 on: February 11, 2017, 07:07:48 am
Thanks David,for all your effort you have made to solve this problem with shelby80. TOP!!

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