According to IHS Maritime, Hanjin Shipping, one of the biggest shipping companies at Sourh Korea, has announced today the issuance of convertible bonds in order to raise 9.2M dollars as working capital.
A Reflection on Posidonia 2014
June 16, 2014 by Leave a Comment
In ancient Greek mythology, Posidon (also spelled as ‘Poseidon’ and known as Neptune in the Roman mythology) was a major god of the Olympian Pantheon protecting the waters and seas. Posidon, although not as temperamental as his more famous older brother Zeus, was known from time to stir the waters for fun or just to raise hell – so to speak; his weapon was the three-pronged trident which not only caused major storms in the sea but also could shake the earth and cause earthquakes.
A Porthole of an Exit Window for Shipping Investments?
April 22, 2014 by Leave a Comment
Momentum and, to a certain extent, freight rates and shipping asset prices have improved meaningfully since last year; while this time last year most vessels – including large vessels such as capesize bulkers and supertankers – were earning barely cash break-even freight, there have been a few windows of opportunity here and there since then.
Russian Sanctions and the Negative Effect on Global Energy Security
April 16, 2014 by Leave a Comment
After a series of headline-grabbing statements about the possibility of “switching” European consumers over to American gas, the US media hastened to announce the launch of Obama’s oil and gas offensive against Russia. In reality the EU is not currently prepared, neither technically nor in terms of price, to buy its energy resources from the US. It would take at least ten years to adapt even the technically advanced German energy system to work with American gas supply. In a crisis, when it is particularly urgent to see a quick return on an investment, such projects are unrealistic.
How do Large Vessels Impact Container Supply Chains?
April 11, 2014 by Leave a Comment
The impact of big vessels on global and regional container supply chains dominated discussion on the opening day of the 18th TOC Container Supply Chain Asia Conference and Exhibition, at the Marina Bay Sands Hotel, Singapore.
Legal Aspects of Arctic shipping
April 4, 2014 by Leave a Comment
Arctic navigation routes include the ‘Northwest Passage’ between the Atlantic and Pacific oceans along the northern coast of North America and the ‘Northern Sea Route’ (NSR) which includes all passages along the North coast of the Russian Federation. As a result of the continued melting of Arctic sea ice a new ‘Central Arctic Ocean Route’ may soon become an option alone or in combination with elements of the Northwest Passage or the NSR.
Europe Remains Global Fleet’s Flagship
April 3, 2014 by Leave a Comment
“Although shipping has seldom been in the limelight, it never ceased to play a substantial role in Europe’s economy” commented Patrick Verhoeven, ECSA Secretary General on today’s release of the Oxford Economics study on the economic value of the EU shipping industry. He added: “The EU shipping industry continues to stay its ground in these hard times against fierce competition from third country shipping centres, particularly those in Asia and the Middle East. It remains today a world leader and an important source of revenue and jobs in Europe.”
MOL Group Management Plan “STEER FOR 2020”
April 1, 2014 by Leave a Comment
MOL announced on Monday the new three-year midterm management plan that will take effect in April 2014. MOL Group has been carrying out all plans in single-year plan “RISE 2013” with goals of restoring profitability and laying a strong foundation to return to a growth trajectory.
Gastech 2014 and Opportunities in LNG Shipping
March 28, 2014 by Leave a Comment
According to Andrew Clifton, General Manager for the Society for International Gas Tanker and Terminal Operators, there are unprecedented opportunities in LNG shipping today. Last Tuesday in Gastech 2014 Andrew Clifton stated that there are more ships and terminals than ever before. Within 3 to 4 years, there will be a fleet of over 500 LNG vessels in service. It is worth mentioning that in 1997, there were only 100 vessels in service.
Forecast of Global Exporters and Importers of Energy
March 27, 2014 by Leave a Comment
Maintaining a robust global energy marketplace is critical to meeting rising global energy demand. The backbone of the global energy marketplace is free trade, which enables energy to move across various boundaries by pipeline, ship, railway, or in the case of electricity, by transmission lines. Oil and natural gas are the most widely traded energy sources, but other forms of energy, including coal, electricity and some renewable fuels, are also actively traded on the international market.
Officer of the Watch 