LOI

Neoline Signs LoI for First Wind Propelled Cargo Ship

Neoline, a French shipowner offering carbon-free shipping services, has signed a letter of intent (LOI) with compatriot company Neopolia Mobility for the construction of Neoline’s first 136-meter sailing cargo ship, reads the company press release.

As informed, the project is now in the financial closure phase with the objective of starting construction this summer, aiming for commissioning in the first half of 2024.

Maritime transport to cut emissions

According to Neoline, the decision comes at...

https://mfame.guru/neoline-signs-loi-for-first-wind-propelled-cargo-ship/

Fincantieri Signs Contract For A New Shipyard

  • The new facility will be located within the expansion and modernization of the Port of Progreso, the main port of the State, approx. 35 kilometers from the capital Merida.
  • Fincantieri will be granted a 40-year concession for the exclusive management of the new yard.
  • The project envisages two masonry dry docks, the largest in the Americas, able to harbor ships up to 400 meters in length.
  • The creation of the yard will be carried out by the Government of the State of Yucatán, and it will start...

https://mfame.guru/fincantieri-signs-contract-for-a-new-shipyard/

Commodity Traders Shocked After Collapse of Oil Trader

  • Commodity traders are facing the heat following Hin Leong’s shocking collapse.
  • It has led to short-term disruptions amid COVID-19.
  • There are disruptions in physical supply.
  • Deteriorating credit environment and potentially tighter regulatory oversight.
  • Oil companies have tightened internal risk management and scrutiny of counterparties.
  • Companies are also scrutinizing the use of letters of indemnity in place of bills of lading.

According to an article published in Platts and authored by Eric...

https://mfame.guru/commodity-traders-shocked-after-collapse-of-oil-trader/

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