The reported $57m sale of the 23-year-old VLCC Hellstugutinden provides the latest evidence of just how hot the market for vintage tanker tonnage has become. The 2003-built, 300,000 dwt vessel is understood to have changed hands over the weekend for $57m, an extraordinary valuation for a ship...
Ten years after Hanjin Shipping’s collapse sent shockwaves through global supply chains, the Korean carrier is back in the headlines — this time at the centre of a debate over how the country decides whether troubled companies should be saved or liquidated. The Seoul Rehabilitation Court is...
A US-sanctioned product tanker has been hijacked in the Gulf of Aden and forced towards Somalia, the second reported vessel seizure in the region this week as Somali piracy gathers renewed momentum. UK Maritime Trade Operations said the incident occurred around 136 nautical miles east of Al...
Shipping is betting on more ships thanks, in no small part, to the disruption created by fewer reliable routes. That contradiction ran through much of Splash’s coverage this week. Panama, Hormuz, the Houthis, Somali pirates and the Black Sea were constant presences in our reporting. Different...