Commerce

Commerce underpins the competitive landscape in shipping. From forging alliances and partnerships to asset plays and raising finance, IHS Fairplay constantly assesses the day-to-day operations of global shipping. Challenging market conditions are impacting on dry bulk, tanker and containership owners and regardless of whether a shipping company is publicly listed or privately held, access to finance is business critical. The continued presence of private equity in shipping and the availability of alternative financing options also point to the winners and losers within the maritime industry.

Commentary

OPEC Secretary-General Mohamed Sanusi Barkindo told delegates at International Petroleum Week in London that the oil industry cannot afford to see investment levels fall for a third year in a row.

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Latest Headlines

BW LPG tanker BW Trader.
27 Feb 2017
Group net profit fell to USD79.7 million in 4Q16 from USD82.0 million in the same period a year earlier, while revenues decreased to USD117.3 million from USD191.8 million.
Brightoil Glory. The company intends to continue trading crude oil.
27 Feb 2017
Brightoil's profit was an improvement from a HKD523 million net loss a year ago. It was attributed to higher bunker sales and oil prices in 2016.
Jinhui vessel Jin Heng. The company reduced its losses last year.
27 Feb 2017
Jinhui's losses halved last year compared to the year before, but company still in the red due to a USd113 million impairment charge.
Pacific Radiance-owned platform supply vessel Crest Alpha 1
27 Feb 2017
Pacific Radiance suffered a significant loss in 2016 as it witnessed a fall in charter rates and an impairment.
Recycling of semi-submersibles can be difficult and costly.
27 Feb 2017
Recycling of offshore assets has been limited so far but Reuben Segal, Chief Operating Officer of Aqualis Offshore, expects this to pick up. 
It is crucial for DSME to deliver the Sonangol Libongos and Sonangol Quenguela to avert a liquidity crisis, as the South Korean shipbuilder would collect a final payment of KRW1 trillion (USD880 million)
27 Feb 2017
Sonangol is negotiating to find a charterer for troubled South Korean shipbuilder DSME for the two drillships that have been repeatedly delayed in the wake of the oil shock.
HMM CEO Yoo Chang-keun.
27 Feb 2017
The ‘HMM + K2 consortium’ will boost the competitiveness among South Korean carriers in the intra-Asia segment when it commences operations in March.
One of LSC's product tankers, Ance.
24 Feb 2017
Latvian Shipping Company blamed impairments on its fleet of 16 medium-range and Handysize tankers and changes in the USD/EUR exchange rate for the deterioration in earnings.
BV saw revenue fall to EUR391.9 million in 2016.
24 Feb 2017
Bureau Veritas saw revenues and profit fall in 2016, driven by a decline in newbuilding activity and vessel lay-ups in the offshore sector.
J Laurtizen reported smaller losses for the last quarter and full year.
24 Feb 2017
J Lauritzen and its lenders have agreed to a restructuring plan while the dry bulk and LPG carrier reported a net loss for the final quarter of last year.