Two weeks ago, Golden Ocean Group Limited ("GOGL") announced that it had agreed to acquire 18 modern scrubber-fitted dry bulk carriers consisting of 10x Newcastlemaxes built 2019-21 and 8x Kamsarmaxes built 2020-21 from Hemen Holding Limited, a company indirectly controlled by John Fredriksen, the company's largest shareholder.

In recognition of the improving conditions around the coronavirus, Marine Money will transition from Virtual events to a Hybrid event format at select events in Q2 and on a broader scale in Q3 and Q4.

Link to the calendar HERE

On Tuesday, Euronav NV announced that it entered into a sale and leaseback agreement for the M/T Newton with Taiping & Sinopec Financial Leasing Ltd Co. for a purchase price of $36 million, in line with VesselsValues' appraisal of $36.7 million.

Back in May 2010, Alterna Capital Partners and Western Bulk entered into a joint venture to invest in dry cargo bulk carriers in the 30,000 to 60,000 dwt size segment. Western Bulk was the managing partner, and the plan was to invest in at least four vessels – including both newbuildings and/or trading vessels.

As part of its fleet renewal process after being acquired by the Prime Group, First Ship Lease Trust ("FSL Trust") announced in December 2018 that it had entered into shipbuilding contracts with COSCO Shipping Heavy Industry (Yangzhou) Co., Ltd. for the construction of two 114,000 dwt scrubber-fitted Tier III LR2 product tankers for delivery in late 2020 and early 2021.

Success is always worth repeating, particularly for those who are patient and discerning. Beginning in Q4 2019, the tanker market went on a roller coaster ride as the market anticipated the impact of IMO 2020, which was further bolstered by the storage story in the spring of 2020.

As we approach the first anniversary of the lockdown, a look back at the year highlights the devastation of the pandemic on a personal level in terms of lives lost, illness, and joblessness. And while the impact on the economy was significant, it remained somewhat resilient.

Seaspan Corp. has a process. Gather cash; buy ships. This process was enhanced by its recent move to acquire a credit rating in order to access the private placement market, which it made full and quick use of. Back in October, the company priced a Sustainability-Linked Loan of $200 million to increase the size of its portfolio financing program.

SIGN UP HERE FOR OUR ONE-MONTH MEMBERSHIP TRIAL. ONLY$99.

The world is changing and what was appealing in the past might not be as attractive today. The number of shipping companies with a public listing in the 1990s could be counted on one hand, but, with the arrival of the new millennium, interest in going public soared. Investors were attracted to the industry's cyclicality and the dream of being the next Onassis.

Frankly, we were unaware of a "golden rule" when it comes to shipping and somewhat puzzled by Global Ship Lease's recently announced acquisition of seven twenty-year-old containerships, seeing little in the way of upside. Thankfully, Frode Mørkedal of Clarksons Platou Securities was there to explain the rule and the rationale. But first the facts.

As is well known, the Covid-19 outbreak has shut down economic activity leading to a severe impact on employment levels, industrial activity and consumer spending, which, in turn, resulted in a significant reduction in international trade and, specifically, container shipping volumes. The numbers tell the story.