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Diversified UK owner Union Maritime has been linked to its first newcastlemax bulker order, with brokers reporting a provisional deal in China for up to four 215,000 dwt vessels. Newbuilding sources said the Laurent Cadji-led company has signed up at around $76m per ship for two firm units plus two options at Wuhu Shipyard, with …
https://splash247.com/union-maritime-bulks-up-with-first-newcastlemax-newbuilds/
https://splash247.com/union-maritime-bulks-up-with-first-newcastlemax-newbuilds/A suezmax deal concluded last week already looks well-timed amid a rapidly shifting geopolitical backdrop. Two years ago, UAE-based VLKR Ship Management acquired the 156,000 dwt Karvounis (built 2013, Sumitomo), paying $67.5m for the scrubber-fitted Japanese unit and renaming it Sigrun. The vessel has now changed hands again, for roughly $2m less. Clarksons noted in …
Swiss insurance giant Zurich is buying British rival Beazley for £8.1bn ($10.8bn), having had an earlier £7.7bn bid rebuffed. Beazley, which features a significant marine portfolio, will be delisted from the London Stock Exchange but will remain a UK-based company. Mario Greco, Zurich’s chief executive, said: “Leveraging Beazley’s established Lloyd’s platform, the combined specialty business …
https://splash247.com/zurich-buys-rival-insurer-beazley/
https://splash247.com/zurich-buys-rival-insurer-beazley/VLCC freight surged to extraordinary theoretical levels on Monday as the war between Iran and the US‑Israel coalition roiled shipping in the Persian Gulf, with some 3,200 vessels stuck in the region. The benchmark TD3C from the Middle East to China was quoted at $423,700 a day, up $205,600 from the day before. Brokers cautioned …
https://splash247.com/3200-ships-caught-up-in-hormuz-paralysis/
https://splash247.com/3200-ships-caught-up-in-hormuz-paralysis/Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.Brent crude futures LCOc1 were at $80.89 a barrel…
https://www.marinelink.com/news/oil-price-soars-usisrael-war-iran-raises-536396
https://www.marinelink.com/news/oil-price-soars-usisrael-war-iran-raises-536396European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U.S.
https://www.marinelink.com/news/europe-pressure-gas-prices-climb-israelus-536398
https://www.marinelink.com/news/europe-pressure-gas-prices-climb-israelus-536398A fuel tank at Oman’s Duqm commercial port was hit on Tuesday when the facility came under attack from several unmanned aircraft, the state news agency said, citing a security source, on the fourth day of U.S.-Israeli strikes on Iran, which…
https://www.marinelink.com/news/drone-attack-damages-fuel-tank-omans-duqm-536399
https://www.marinelink.com/news/drone-attack-damages-fuel-tank-omans-duqm-536399China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely the case, with China's vast stockpile of crude a cushion against pri
https://www.marinelink.com/news/china-looks-best-placed-weather-iran-536400
https://www.marinelink.com/news/china-looks-best-placed-weather-iran-536400Ship refuelling at Fujairah, a major bunkering center in the United Arab Emirates, has slowed after the U.S.-Iran conflict disrupted fuel shipments in the region, spurring a jump in prices and potentially shifting demand to other ports including…
https://www.marinelink.com/news/fujairah-bunker-prices-surge-demand-536402
https://www.marinelink.com/news/fujairah-bunker-prices-surge-demand-536402Hong Kong-listed LC Logistics has ordered two 11,000 teu containerships from China in a deal worth about $236m. The vessels will be built by Shanghai Waigaoqiao Shipbuilding in partnership with the trading arm China Shipbuilding Trading Company. The newbuilds are scheduled for delivery by November 30, 2028 and April 30, 2029, respectively. Founded in 2004, …
https://splash247.com/bal-parent-lc-logistics-books-236m-boxship-duo/
https://splash247.com/bal-parent-lc-logistics-books-236m-boxship-duo/