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TFG Marine, Trafigura’s bunker fuel supply business with John Fredriksen’s Frontline and Alex Saverys-led CMB.TECH has secured a working capital facility of up to $300m from DBS Bank, boosting liquidity as it scales up operations and pushes further into digitalised fuel supply. The financing is aimed at supporting day-to-day trading activity and bunker deliveries, with …
https://splash247.com/bunker-supplier-tfg-marine-links-financing-to-digital-delivery-records/
https://splash247.com/bunker-supplier-tfg-marine-links-financing-to-digital-delivery-records/Nissen Kaiun is capitalising on surging tanker asset values, offloading modern eco aframaxes at levels rarely seen before. The most talked-about sale in this weekend’s broker reports has been the 2018 Tsuneishi-built Pusaka Borneo, a 109,000 dwt, scrubber-fitted vessel. VesselsValue notes the ship fetched $76.5m in the end — the highest price ever recorded for …
https://splash247.com/japanese-owners-cash-in-as-aframax-prices-hit-record-highs/
https://splash247.com/japanese-owners-cash-in-as-aframax-prices-hit-record-highs/Bremen-based D. Oltmann Reederei has been identified as the European owner behind four 10,010 teu container ship orders placed at Korea’s HJ Shipbuilding and Construction, according to Alphaliner. The low-profile German non-operating owner placed the orders in two pairs, in February and April respectively, with all four vessels scheduled for delivery in 2028 at two-monthly …
Defending today’s demolition model may be pragmatic, but it risks locking the industry into a compromise it was never meant to keep, argues Captain Soumitro Roy from the Elegant Exit Company. Dr Anand Hiremath is right about one thing: South Asia has ship recycling capacity, and it is improving. But capacity is not the same as …
https://splash247.com/ship-recyclings-ambition-problem/
https://splash247.com/ship-recyclings-ambition-problem/The Prokopiou family is stepping further into the tanker market with the launch of a new company that has wasted little time securing its first newbuilding slots in China. New entrant Beacon Tankers Management has signed for two firm 158,000 dwt suezmax tankers at Hengli Heavy Industries, with options for two more vessels. Details around …
German automotive and arms manufacturer Rheinmetall has revealed it is working with Mediterranean Shipping Co (MSC) to take over the bankrupt Romanian shipyard Mangalia. The two companies are looking at using the yard – one of Europe’s largest – for both military and commercial shipbuilding. Rheinmetall recently acquired the shipyards belonging to the Lürssen Group, …
The Trump administration’s Project Freedom operation to guide stranded vessels out of the Persian Gulf through the Strait of Hormuz has been suspended after just two days, as Iran pressed ahead with attacks on commercial shipping and unveiled a formal toll collection authority for the waterway. President Donald Trump announced on Tuesday evening that the …
https://splash247.com/hormuz-toll-authority-goes-live/
https://splash247.com/hormuz-toll-authority-goes-live/Orient Overseas Container Line (OOCL) has launched a legal challenge against the Federal Maritime Commission, arguing the regulator’s in-house adjudication process is unconstitutional following a $45m ruling against the liner operator. In a filing submitted to a federal court in Texas on Tuesday, OOCL asked the court to halt ongoing FMC administrative proceedings and vacate …
https://splash247.com/oocl-challenges-fmc-court-system-after-45m-ruling/
https://splash247.com/oocl-challenges-fmc-court-system-after-45m-ruling/U.S. President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing progress toward a comprehensive agreement with Iran."We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom ...
https://www.marinelink.com/news/trump-pauses-effort-escort-ships-strait-538825
https://www.marinelink.com/news/trump-pauses-effort-escort-ships-strait-538825Oil transportation and storage company Sentinel Midstream said on Tuesday it would immediately begin construction of its deepwater oil export project off the Texas coast, marking the first development of a large-scale export project in the United…
https://www.marinelink.com/news/sentinel-midstream-begin-building-texas-538826
https://www.marinelink.com/news/sentinel-midstream-begin-building-texas-538826