InterManager Daily News 19.06.2019.

1. Cable layer vessel reported aground, UK
Cable layer vessel reported aground since late Jun 17 in UK waters. Several tugs at grounding site. As of 1100 UTC, vessel was in the same position. No confirmation yet, no additional information. Awaiting further development, confirmation.

2. Bulk carrier distressed in Detroit river
Bulk carrier ALGOMA NIAGARA as reported by “Great Lakes and Seaway Shipping”, broke off her moorings at Coco Dock, Windsor, Detroit river, at night Jun 16, while off loading cargo of stone. The ship was fixed by anchor and tugs. As of 1130 UTC Jun 18, laker looked like she remained in the same position, with tugs at her side. Not clear what happened, if laker was damaged or grounded.

3. Is DryShips a Buy?
Dry bulk carrier owner DryShips (NASDAQ: DRYS) has seen its stock price effectively drop 99% over the past three years. The actual price collapse defies logic if you look at the price chart and don’t understand the history – and so far in 2019 the stock is on the downswing again, losing a troubling 40% of its value after rocketing 60% higher in 2018. What’s going on, and is it worth it for investors to jump aboard this volatile ship?

4. Israel’s ORL delivers first cargo of IMO-spec marine fuel -sources
srael’s Oil Refineries (ORL) recently delivered its first cargo of 0.5% sulphur content marine fuel, complying with incoming new IMO rules, a trading source said. The Haifa-based 197,000 barrel per day refinery loaded its first 30,000 tonne cargo of the ultra-low sulphur, 380 centistoke blend in late May, the source said.

5. MABUX: Bunker Market this morning June, 18
Brent for August settlement decreased by $1.07 to $60.94 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July delivery fell by $0.58 to $51.93 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of 9.01 to WTI. Gasoil for July delivery decreased by $6.00.

6. China’s weekly export container shipping index edges up
China’s container transport for export purposes increased for the week ending Friday, according to the Shanghai Shipping Exchange. The average China Containerized Freight Index (CCFI) stood at 811.44, up 2 percent from a week earlier, the exchange said.

7. Boeing 747 to be Sunk for Underwater Theme Park
Dive Bahrain is preparing to sink a 70-meter (230-foot) Boeing 747 to provide a diving attraction for an underwater theme park in the Persian Gulf. The plane, built in 1981, will be the largest aircraft ever to be submerged and it will be part of the world’s largest underwater theme park. It is expected to be sunk, nose up, in 24 meters of water. All hazardous materials, oils and plastic have been removed from the plane. Tourists are expected to be able to dive on the plane starting from August this year.

8. Titan LNG’s Bunker Barge Delivers 1st LNG
LNG supplier Titan LNG revealed that its bunker barge FlexFueler001 performed the first official bunkering on June 14 in the Port of Rotterdam. The fuel was delivered to the short sea liner shipping company Norlines, according to the company.

9. Major Banks Promote Greener Shipping through New Principles
Major shipping banks will for the first time integrate climate considerations into lending decisions to incentivize maritime shipping’s decarbonization. The Poseidon Principles will be a global framework for assessing and disclosing the climate alignment of financial institutions’ shipping portfolios.

10. Ship Finance Review – Dry Spell Inspires Innovations in Cooperation
Copenhagen-based bulk carrier operator Baltnav reports that it secured a profitable 2018, which has allowed it to expand globally with plans to open a new office in Brazil as well as new forays into ship management. The company’s net profit jumped to US$ 4.2m in 2018, solid performance for a company dealing exclusively in smaller sized Ultra-Supra-Handy bulk vessels.


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