Trade between UAE and Qatar set to resume

Shipping and other trade services between the UAE and Qatar are set to resume following the announcement by Khalid Abdullah Belhoul, Undersecretary of the UAE Ministry of Foreign Affairs and International Cooperation, that the UAE will begin to end all measures taken against the State of Qatar in 2017.

He indicated that the UAE will work to re-open all land, sea and airports for inbound and outbound movements, and that all of the relevant authorities in the UAE have been notified of these...

https://www.themaritimestandard.com/trade-between-uae-and-qatar-set-to-resume/

UACC acquired by Greek interests with WFW support

United Overseas Group (UOG), an investment company controlled by Greek interests, is to acquire Dubai-based shipping company United Arab Chemical Carriers (UACC) in a deal that is still subject to regulatory approvals. Watson Farley & Williams (WFW) advised UOG in the acquisition, which was structured by way of a reverse triangular merger with the financing for the acquisition provided by alternative investment firm, EnTrust Global. The transaction will be the first such merger to be affected...

https://www.themaritimestandard.com/uacc-acquired-by-greek-interests-with-wfw-support/

Great Eastern sells older tonnage

India’s Great Eastern Shipping Company has recently delivered its 2000-built Suezmax crude carrier Jag Lateef to undisclosed buyers, having concluded a contract to sell the ship last November. Following the disposal of the ship the company’s current fleet stands at 46 vessels, including 33 tankers and 13 dry bulk carriers, with an average age of 12.24 years and an aggregate size of 3.66 million dwt.

Two other vessels, its oldest Suezmax crude oil tanker, Jag Laadki, and the 2006-built Supramax...

https://www.themaritimestandard.com/great-eastern-sells-older-tonnage/

Mumbai to host new Inchcape cruise centre

Inchcape Shipping Services’ new Centre of Cruise Excellence (CoCE), based in Mumbai, is to be launched in the first quarter of 2021, the company has confirmed. The CoCE will publish weekly intelligence reports, including security, health and travel warnings, political reviews and port and marine updates. In addition, it will also offer itinerary management, crew logistics, cost control, feasibility, clearance, risk assessment and planning services, as well as hull survey and inspection and a...

https://www.themaritimestandard.com/mumbai-to-host-new-inchcape-cruise-centre/

Ship fuel prices jump, spread widens. Is ‘scrubber’ revival nigh?

ship fuel

One year ago — which seems like an eternity ago — no one in ocean shipping was talking about COVID. They were talking, ad nauseum, about fuel. About a massive spike in fuel prices due to a regulatory “tsunami” that would hammer liner companies’ 2020 financial results, inflate the cost of imported goods and steer winners and losers among shipping stocks.

It didn’t happen, courtesy of COVID. Instead, the price of marine fuel collapsed. Shipowners and cargo shippers actually saved money on fuel in...

https://s29755.pcdn.co/news/ship-fuel-prices-jump-spread-widens-is-scrubber-revival-nigh

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