Standing pat is not an option for Scorpio Bulkers Inc. but that comes with a trader's mentality. Buying the shares of its affiliate, Scorpio Tankers, was a striking move but does not come close to the decision, announced August 3rd, to liquidate its bulk carrier fleet to enter the offshore wind industry with the acquisition of a Wind Turbine Installation Vessel with options for an additional three vessels.

The team at Wartsila explains the what, the whys and the how of the Poseidon Principles.

George Weltman looks to the north.

Frontline Ltd also reported entering into three senior secured term loan facilities in November 2020 in amounts of $250.7 million, $100.8 million, and $133.7 million, respectively, to refinance two existing term loan facilities maturing in the second quarter of 2021 and to partially finance the LR2 tankers under construction.

In the midst of a pandemic, time loses meaning. The past — before Covid-19 — fades, and each new day melds into the next undifferentiated one. Life resembles the movie Groundhog Day. Still, recollections of the past are crucial. The rankings, for instance, are a function of past events, which must be reported on to provide context to the results. Hence, we look back to 2019, the calm before the storm.

Click here to see the issue.

Alex Rogan describes the latest addition to the toolkit.

The year in graphs.

Last week, Overseas Shipholding Group, Inc. announced that it had closed a $49,150,000 seven-year senior secured term loan to finance a newbuilding 204,000 barrel U.S. Flag oil and chemical ATB barge, the OSG 205, and to refinance the tug to which the barge is being paired, the OSG Courageous.

Barnabas Finnigan explains.

Campbell Houston draws upon the data to summarize 1,000 pictures.

Matt McCleery looks back at the year.

In accordance with its plans, Nord/LB's shipping loans and loss provisions are down significantly as the Strategic Portfolio Optimization unit continues to reduce the bank's exposure to the industry.