TradeWinds

19 hours ago | tradewindsnews.com | Gary Dixon

Tanker recycling has risen “tentatively” so far this year, but ongoing sanctions complications are still keeping numbers low, UK shipbroker SSY says. The London shop tallied 10 crude and product ships of more than 10,000 dwt demolished to 30 April, after a dearth of removals since early 2022. This is only two short of the 12 scrapped in the whole of 2024, but is already higher in deadweight terms.

22 hours ago | tradewindsnews.com | Gary Dixon

India's Alphard Maritime is expanding its fleet in sale and purchase deals backed by Costamare and Latsis-owned Neptune Maritime Leasing. Brokers have reported the Indian company buying four offshore ships from Mexican owner Cotemar. Two have since been sold on to financier Neptune with bareboat charters back to Alphard, with two more to be delivered.

22 hours ago | tradewindsnews.com | Gary Dixon

Traders have been rebranding Venezuelan oil exports as Brazilian bitumen in a bid to keep tankers heading to China. Reuters cited tanker tracking firms and trading sources as saying this practice is cutting costs and evading US sanctions. More than $1bn of crude has been rebranded over the last year, the report said.

1 day ago | tradewindsnews.com | Gary Dixon

Billionaire shipowner Rodolphe Saade has made a move into the movies with an investment in iconic French production company Pathe. The CMA CGM chief executive's family holding company Merit France has taken a 20% stake in the group, which also owns cinemas, for an undisclosed amount. "Amid a rapidly evolving macroeconomic and industrial landscape rich with opportunity, this transaction is aimed at equipping Pathe with the resources needed to accelerate its growth," Pathe said.

1 day ago | tradewindsnews.com | Gary Dixon

BW Group product tanker owner Hafnia has brought in Emily Tan as a director to replace co-founder Erik Bartnes. The former Shell executive was voted on to the board at the company’s annual general meeting. BW principal Andreas Sohmen-Pao was re-elected as chairman, and John Ridgway, Peter Read and Su Yin Anand were reconfirmed as the other board members.