Freight Trading News

Singapore's commodity trading company Trafigura Group has named the first of its 35 crude oil and product tankers being built in South Korea and China.The naming ceremony took place at Hyundai Samho Heavy Industries’ shipyard in Jeolanam-do, in the southwest of South Korea yesterday (September 20) in the presence of Singapore’s Senior Minister of State for Transport and Health, Dr Lam Pin Min. Dr Lam’s wife, Dr Jeanette Chen, became godmother to the first vessel to be named, the Mt Marlin Singapore, a 150k dwt Suezmax vessel.Chin Hwee Tan, CEO Asia Pacific for Trafigura also joined today’s ceremony whose wife, Michelle Lee, became godmother to the second vessel to be named…

TOP Ships Inc. an international owner and operator of modern, fuel efficient "ECO" tanker vessels currently focusing on the transportation of petroleum products, has announced that it entered into a sale and leaseback agreement and a 5 year time charter with Cargill International SA (“Cargill Ocean Transportation”) on June 29, 2018, a leading vessel operator and freight-trading business in the bulk shipping sector, for its newbuilding vessel Hull No 8242 currently under construction at Hyundai Mipo Dockyard Co., South Korea. Consummation of the deal is expected to take place on the vessel’s delivery date currently planned for January 2019. Following the sale, the company will bareboat charter back the vessel and immediately put it on a 5 year time charter with Cargill Ocean Transportation.

SCF Group signed time-charter agreements with Shell for two dual-fueled Aframax tankers. At a ceremony held during International Petroleum Week in London, the time charter agreements were signed by Evgeny Ambrosov, Senior Executive Vice-President of SCF Group, and Mark Quartermain, Vice-President of Crude Trading for Shell. The vessels are part of a series of six SCF Group tankers currently under construction and due for delivery between Q3 2018 and Q1 2019. The two tankers will be on time charter to Shell for up to 10 years, with a minimum commitment of five years. This “Green Funnel” series of ice class 114,000 deadweight liquefied natural gas (LNG) powered Aframax tankers will operate within Shell’s extensive global freight trading network.

Norwalk-headquartered tanker operator Heidmar has appointed James Pippard as its new Chief Executive Officer. James will oversee  the global footprint of the Company's five Pools, with offices in Norwalk, CT, London and Singapore. James is a respected and successful figure in the tanker shipping industry and during his 25 years at Teekay, he has worked in a variety of commercial management roles in Houston, Vancouver, London and Singapore and will be blending his experience into Heidmar’s pooling business to create  value for its partners and customers. "James joins us from being the SVP for chartering and freight trading at Teekay tankers where he was responsible for leading the global commercial trading of Teekay Tankers through its pools growth…

Newly appointed Baltic Exchange Chief Executive Mark Jackson has set out the Exchange’s vision of the near-future in a wide-ranging speech in Singapore during the concurrent MPA Singapore Maritime and Singapore Iron Ore Weeks. “The recent acquisition of the Baltic Exchange by the Singapore Exchange (SGX) has reinvigorated this key international maritime institution, allowing us to grow our leadership profile and play a bigger role than ever before in setting standards, building consensus and leading change in the shipping markets. These are bold plans and will ensure that the Baltic Exchange remains at the heart of the bulk shipping industry for the long-term.

On March 1, Jan Dieleman assumed the leadership of Cargill’s Ocean Transportation business with its headquarters in Geneva, Switzerland. Dieleman took over the position of Roger Janson who has managed the business successfully since 2011 and now heads Cargill’s Agricultural Supply Chain enterprise in the Europe, Middle East and Africa region. Dieleman is moving to the position after leading Cargill’s North America Power and Gas business since 2014. After joining the company in 1999, he has gained his expertise working in various roles in grain products and freight trading as well as thermal energy. Cargill’s North America Power and Gas business will be led by Mike Newman who takes over the role of Dieleman.

Guy Campbell of the China Navigation Company has been appointed by the Baltic Exchange Board of Directors as Chairman for a two year term of office. He replaces Quentin Soanes who served as Chairman from 2012. Guy Campbell, FIFC, MCIArb is aged 47 and began his shipping career at shipbroker JE Hyde & Co Ltd in 1990. A dry cargo specialist, he became a Baltic Exchange member in 1991, remained at JE Hyde for seven years before joining Koch Industries, where he spent 10 years as a chartering manager and eventual Director, Ocean Freight for Koch Carbon LLC. After six years as Dry Cargo Managing Director at shipbroker Clarksons, he now works for The China Navigation Company, the deep sea ship owning and operating arm of the Swire Group.

Teekay Tankers Ltd. announced the appointment of Mr. Kevin J. Mackay as Chief Executive Officer (CEO) of Teekay Tankers, effective June 20, 2014. Mr. Mackay will join Teekay Tankers from Phillips 66 Corporation (Phillips 66), where he is currently head of the global marine business unit for this industry-leading downstream company. In this role, he is responsible for all aspects of marine transportation, including chartering, operations, demurrage, strategy & freight trading, business improvement and marine risk management. He held a similar role as the General Manager, Commercial Marine at ConocoPhillips from 2009 to 2012 before the formation of Phillips 66. Mr. Mackay started his career working for Neptune Orient Lines in Singapore from 1991 to 1995. He then joined AET Inc.

Navios Maritime Acquisition Corporation (NYSE: NNA) announced that Adrian Wooldridge will serve as the Company's Chief Commercial Officer, responsible for all chartering and related commercial activities. Before joining the company, Wooldridge worked for eight years at various divisions of Shell Oil where he most recently served as Freight Trading Manager for Shell Western Supply & Trading Ltd. in Barbados with overall responsibility for crude and refined petroleum products' trading. Wooldridge holds a Master's in Business Administration from Warwick Business School in the UK and a degree from the Royal College of Music in London. He also is a Fellow of the Institute of Chartered Shipbrokers.

Dutch oil, chemicals and storage group Petroplus is one of the partners to launch an Internet-based portal and online exchange to transform the traditional Rhine-based shipping sector. Shippers, integrated barge owner companies, independent barge brokers and individual barge owners will have the opportunity to conduct business online through this portal, Petroplus said in a statement. The other founding shareholders of the project are BP Amoco, shipping and tank storage firm Royal Vopak and Germany's Marquard & Bahls AG which trades under the brand names Mabanaft and Oiltanking. The project is supported by the Rhine Barge Owners Association, Petroplus added. Management and technology consultancy Booz Allen & Hamilton will provide strategy and e-technology services to the venture.