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Following three attacks on vessels linked to Israel, a container ship operated by Israeli ocean...
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The Israel-Hamas war has raised concerns about future fallout for shipping at two “chokepoints”: the...
https://www.freightwaves.com/news/yet-another-shipping-chokepoint-risk-as-yemen-rebels-attack
War in the Middle East changes the geopolitical calculus for ocean shipping, compounding existing threats from Russia’s invasion of Ukraine. Two of the top energy cargoes at risk in the Middle East are liquefied petroleum gas (LPG) — propane and butane — and liquefied natural gas (LNG).
What happens next in the Middle East will have major trade consequences for the U.S., the world’s largest exporter of both LNG and LPG.
Oystein Kalleklev is the CEO of LNG shipping company Flex LNG (NYSE: FLNG)...
https://www.freightwaves.com/news/how-middle-east-war-could-impact-global-lng-lpg-shipping
It took a while but it finally happened: The U.S. Treasury Department has begun sanctioning tankers transporting Russian crude oil valued above the West’s price cap.
Since Dec. 5, 2022, the Group of Seven nations, members of the European Union and Australia have barred their countries’ marine service providers from working with tankers carrying Russian crude priced above $60 per barrel. Tankers carrying crude above the cap that use G-7, EU or Australian services have been threatened with...
https://www.freightwaves.com/news/us-pulls-trigger-on-russian-sanctions-blacklists-2-crude-tankers
Wars and pandemics — geopolitical and global health crises causing widespread suffering and death — have the side effect of hiking profits in certain industries. Wars inflate returns for defense contractors. The pandemic was a bonanza for certain pharmaceutical companies.
Shipowners have profited from both. Container-line owners made fortunes during COVID. Russia’s invasion of Ukraine buoyed rates for tanker companies.
Now there’s a new geopolitical crisis — the Israel-Hamas war in response to...
https://www.freightwaves.com/news/war-in-israel-the-new-geopolitical-flashpoint-for-ocean-shipping
Current ownership of Euronav (NYSE: EURN), one of the world’s largest tanker shipping companies, calls to mind a marriage of convenience doomed to fail from the day of the nuptials.
On one hand, there’s shipping tycoon John Fredriksen and his company Frontline (NYSE: FRO), with a combined 26% stake in Euronav and a focus on building scale in the tanker space. On the other is the Saverys family’s CMB, owning 23% and intent on diversifying Euronav into other shipping segments and developing...
https://www.freightwaves.com/news/tanker-shippings-odd-couple-prepares-for-divorce
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Ocean shipping stocks are not “buy-and-hold” investments. Shipping is a highly cyclical industry;...
https://www.freightwaves.com/news/how-have-shipping-shares-performed-versus-broader-stock-market
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How much do ocean shipping executives make per year? The answer depends on whether you’re talking...
https://www.freightwaves.com/news/how-much-do-shipping-ceos-make-heres-their-2022-pay-info
Mainstream European tanker owners have largely abandoned the Russian trade now that the country’s crude and diesel have breached Western price caps. The so-called “shadow” fleet — tankers operating outside Western insurance and financial circles — has taken over.
Western sanctions had two goals: First, keep Russian oil flowing, and second, curb oil revenues to Putin’s military. Goal No. 2 is in major trouble. Russia’s export revenues are increasing as the price of its crude and products rises...
https://www.freightwaves.com/news/sanctions-on-russian-crude-and-diesel-exports-are-failing
