InterManager Daily News 10.01.2020.

1. Cargo ship with disabled rudder taken on tow, Norway

Cargo ship MS FOLLA 2 suffered steering failure with rudder being stuck, unable to move, W of Narvik, Norway, in the evening Jan 8, while en route from Bodo to Svolvar. SAR boats responded, rudder was moved amidships, allowing towage. FOLLA 2 was taken on tow by SAR boat DET NORSKE VERITAS at around 2300 UTC Jan 8, to be towed to Lodingen, north of accident site. As of morning Jan 9, caravan was approaching Lodingen. http://maritimebulletin.net/2020/01/09/cargo-ship-with-disabled-rudder-taken-on-tow-norway/

2. Freighter broke off moorings by storm, taken under control, Iceland

General cargo ship FRANCISCA broke off her moorings at Hafnarfjordur, Iceland, early in the morning Jan 8, in a stormy weather with strong wind and heavy swell. The ship was taken back to berth by CG ship TYR and two tugs, no damages reported, though judging from photo of strayed FRANCISCA , there may be some. It was mentioned, that the ship broke off moorings during her stay at Hafnarfjordur since Jan 7 not once, but several times, due to storm raging in the area. http://maritimebulletin.net/2020/01/09/freighter-broke-off-moorings-by-storm-taken-under-control-iceland/

3. USGC Aframax market welcomes ballasters to reopen arbitrage, following 43% freight spike

The USGC Aframax market, which has seen freight for ships to Europe jump 43% since before all-time high US crude export volumes were reached in the week ending December 27, is preparing for an influx of tonnage as a number of ballasting ships from the UK-Continent and Mediterranean regions head to the Gulf of Mexico. https://www.hellenicshippingnews.com/usgc-aframax-market-welcomes-ballasters-to-reopen-arbitrage-following-43-freight-spike/

4. Oil Tanker Stocks Are Key Beneficiaries Of Tension In The Middle East

The CEO of Nordic American Tankers Ltd., Herbjorn Hansson, is no shrinking violet when it comes to trumpeting good news in the tanker market. In a stock market that is dominated by tech titans, the ridiculous amount of operating leverage that can be generated by oil tankers in time of political turmoil can be overlooked. https://www.hellenicshippingnews.com/oil-tanker-stocks-are-key-beneficiaries-of-tension-in-the-middle-east/

5. West Africa grapples with piracy in Gulf of Guinea hotspot

A Nigerian navy speedboat loaded with special forces troops skims across the waves towards a suspect vessel in the Gulf of Guinea.

Guns ready, black-clad officers clamber up a rope ladder and fan out across the decks, looking for pirates believed to have taken the crew hostage. https://www.hellenicshippingnews.com/west-africa-grapples-with-piracy-in-gulf-of-guinea-hotspot/

6. Fujairah data: Weekly oil products stocks jump as IMO 2020 takes effect

Oil product stockpiles at the UAE’s trading hub in Fujairah rose in the past week as IMO 2020-mandated marine fuel requirements took effect.

Stockpiles of heavy distillates and residues, including marine fuel, advanced 11% to 11.205 million barrels as of January 6, the Fujairah Oil Industry Zone reported Wednesday. Total inventories, including light, middle and heavy distillates, jumped about 12% to 20.735 million barrels — a two-week high. https://www.hellenicshippingnews.com/fujairah-data-weekly-oil-products-stocks-jump-as-imo-2020-takes-effect/

7. Shearwater GeoServices awarded North Sea contracts

Shearwater GeoServices has been awarded letters of Intent for three Isometrix 4D towed streamer projects by Equinor and a 4D seabed ocean bottom seismic (OBS) project by Lundin Norway for the 2020 North Sea summer season. https://splash247.com/shearwater-geoservices-awarded-north-sea-contracts/

8. World’s top managers provide insight into 2020 challenges

If that is the case, then the biggest challenges facing managers this year are like what Poseidon found on the end of a trident, said Frank Coles, the CEO of Wallem Group in Splash’s special shipmanagement 2020 preview published today. The three prongs Coles referred to are security, crew and technology, themes many of his peers agree with. https://splash247.com/worlds-top-managers-provide-insight-into-2020-challenges/

9. DeA Capital takes control of four Italian tankers

IDeA Corporate Credit Recovery II Shipping Fund, a turnaround vehicle managed by DeA Capital Alternative Funds, finished its 2019 with four transactions concluded with Italian shipowners, Splash can exclusively reveal. https://splash247.com/dea-capital-takes-control-of-four-italian-tankers/

10. Ridgebury Tankers profits once again from selling vintage VLCC

Broker reports are filled up with VLCC sales in the first days of the year as buyers continue to find even vintage VLCCs en vogue given the six-digit territory seen in the spot market over the past month. https://splash247.com/ridgebury-tankers-profits-once-again-from-selling-vintage-vlcc/

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