Nidaa Bakhsh

London

London Correspondent at ShippingWatch

Senior Markets Reporter

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Articles

Clarksons guides towards lower profits this year amid global turmoil

1 month ago | shippingwatch.com | Nidaa Bakhsh

Growing global uncertainty and US policy blamed for lower broking numbers. Clarksons, the world’s largest ship brokerage, expects that the current global macro uncertainty will hit its bottom line this year.
Taylor Maritime accelerates vessel sales amid geopolitical and trade uncertainty

1 month ago | shippingwatch.com | Nidaa Bakhsh

The shipowner sells 11 dry bulk vessels for gross proceeds of USD 172.5m which will be used to cut debt to nearzero. Taylor Maritime, a London-listed dry bulk shipowner, has offloaded 11 vessels for gross proceeds of USD 172.5m.
FIS to open office in Geneva to focus on dry bulk broking

1 month ago | shippingwatch.com | Nidaa Bakhsh

The new office will focus on physical broking in the dry bulk market. It follows an expansion into Athens through the GR8 Chartering acquisition, and into the US, last year. Freight Investor Services (FIS), a London-based freight derivatives brokerage, is opening a new office in Geneva.
Climate accord is a breakthrough but has serious shortcomings, says industry leaders

1 month ago | shippingwatch.com | Nidaa Bakhsh

Shipping leaders from Wallenius Wilhelmsen, Navigator Gas, Klaveness and Hafnia give their assessment of shipping’s new climate agreement. There are many pluses, but also a number of caveats when shipping leaders are asked to rate the outcome of the IMO’s agreement earlier this month which provides a pathway for the industry to decarbonize.
UK's Peel Ports to invest in boosting capacity

1 month ago | shippingwatch.com | Nidaa Bakhsh

The GBP 10m upgrade at Heysham port in northwest England follows a much larger investment at the Port of Sheerness in the London Medway cluster. Peel Ports, the second-largest port operator in the UK, is investing GBP 10m at its Heysham Port in northwest England to increase capacity and efficiencies as it looks to future-proof the site.
Markel buys UK-based specialist marine insurer

1 month ago | shippingwatch.com | Nidaa Bakhsh

The deal, which is estimated to complete this quarter, will strengthen Markel’s marine footprint and capabilities with new products and access to the growing Asian and European markets. US-based insurance heavyweight Markel will acquire The Meco Group, a UK-based specialist marine managing general agent (MGA).
US sanctions Chinese refiner, vessels and companies for keeping Iran's oil flowing

1 month ago | shippingwatch.com | Nidaa Bakhsh

The US says any refinery, company or broker that facilitates the trade puts itself ”at serious risk”. The US Treasury Department’s Office of Foreign Assets Control (Ofac) has sanctioned a Chinese independent refiner, five tankers and several companies for facilitating Iran’s oil shipments.
Chief exec at UK-based insurer Britannia resigns

1 month ago | shippingwatch.com | Nidaa Bakhsh

Andrew Cutler, who has been in the role for 13 years, has decided to step away at the end of the year. He is being replaced by Mike Hall, currently deputy CEO. Andrew Cutler, chief executive at The Britannia Group, a UK-based P&I insurer, has decided to resign after 13 years in the role.
Tufton digests geopolitical uncertainty

1 month ago | shippingwatch.com | Nidaa Bakhsh

London-listed owner says sanctioned tankers which will likely be removed from the trading fleet will help with supply-side fundamentals. Tufton Assets, a UK-listed shipowner, says there remains significant uncertainty on the net outcome of geopolitical changes.
ILO wants to improve conditions for seafarers

1 month ago | shippingwatch.com | Nidaa Bakhsh

The updates to the maritime convention aim to improve working conditions for seafarers including recoginising them as key workers. The International Labour Organization’s Maritime Labour Convention (MLC) has been strengthened following a week of negotiations in Geneva.