Maritime Cyber Alert
For some years now, the maritime sector has experienced breaches of various computer and information technology (IT) systems. Primarily, these breaches have been collateral damage. The maritime sector has almost never been the intended target. That does not mean that the damage has been minor. In June 2017, A.P. Moller-Maersk suffered a major cyber-attack. The malware had been designed by Russian hackers to disrupt the Ukrainian power sector. Once released, though, it proved to be indiscriminate, infecting IT systems worldwide that had not been kept up to date. In the case of A.P.
Clarksons Targeted in Cyber Attack Last Year
British shipping services provider Clarkson Plc said on Monday an unauthorized third party accessed some of its computer systems in the United Kingdom last year.The unauthorized access to systems from May 31 to Nov. 4, 2017 was gained from a single and isolated user account.
Clayton To Join Clarkson Board
Clarkson PLC announced that Marie-Louise Clayton will join the Board as a Non-Executive Director with effect from 1 January 2017. She will take over as Chair of the Audit Committee following the Annual General Meeting in May 2017 when James Morley, who has been a Non-Executive Director for nine years, will retire from the Board. Marie-Louise Clayton brings a wealth of financial and strategic experience from a broad range of businesses from technology and manufacturing to sugar processing, power and energy.
Clarksons Post Robust 2H Performance
Clarkson PLC, world’s leading shipping services group, reported robust performance during the six months ended 30th June 2015. Andi Case, Chief executive, commented, “The multi-cyclical and volatile nature of our markets has once again been demonstrated by the sudden shift in oil and other commodity prices, giving rise to a consequential change in the demand supply balance in many markets. Across our broking and banking businesses, this backdrop has created both opportunities and challenges.
Near Term Outlook Mixed for Shipping
Shipping services company Clarkson PLC warned that the outlook for the industry remains mixed in the short term and dry bulk and offshore in particular present challenges. "The near term industry outlook remains mixed and the challenges in some of our markets continue. The delivery profile of our activities in broking and financial will result in a weighting in performance towards the second half of the year. We do however anticipate further growth in activity levels in a number of key areas of our business," Chairman James Hughes-Hallett said.
Clarkson PLC Enters FTSE 250
On Monday 13 April 2015, Clarkson PLC entered the FTSE 250 index on the London Stock Exchange. This marks a significant moment in both Clarksons 163 year history and 18 years of trading on the exchange. In thanking all staff for their hard work and committment to the company Andi Case, CEO Clarkson PLC said: "Despite challenging global markets, recent years have seen "Team Clarksons" expand, develop and shape our unique client offer. We are now a world leading integrated shipping and offshore services group with over 1400 people operating across 48 offices in 20 countries"
Baltic Sea Freight Index at All-time Low
The Baltic Exchange's main sea freight index slid to an all-time low on Monday as sluggish cargo demand especially from China battered sentiment, according to data on Monday from the Baltic Exchange in London. The overall index was down 5 points, or 0.89 percent, at 554 points, the lowest level for which Baltic data is available that dates back to January 1985. The Index is tracking rates for ships carrying dry bulk commodities. It gauges the cost of shipping resources including iron ore, cement, grain, coal and fertilizer.
Shipping Rates Drop as China Cuts Coal Need
Shipping costs plunged to almost the lowest on record following tumbling demand for coal in China and weakening growth in the nation’s iron ore purchases, reports Bloomberg. The Baltic Dry Index, which tracks freight rates for ships carrying raw materials, has slumped to its lowest point in 29 years, hit by a shipping glut, falling commodity prices and declining import demand from China. The BDI fell to 577 this week, its lowest level since July 1986, and a far cry from its peak of 11,793 in 2008.
Shipbuilding: Korea Looks to Power Ahead in 2015
Can pain in the China's ship building industry the gain for South Korea? Will 2015 save Korea's major shipbuilders which had a pretty tough time in 2014? Korea's major shipbuilders had a pretty tough time in 2014. Out of the country's three major players, only Daewoo Shipbuilding & Marine Engineering hit its order target last year. It received orders for 68 ships and an offshore plant. Korea's other major players, Hyundai Heavy Industries and Samsung Heavy Industries, both failed to hit their targets.
Leading Shipping Equity Analyst Joins Clarkson Capital Markets
Clarkson Capital Markets, the investment banking arm of shipping services group Clarkson PLC, says it has enhanced its equity research coverage with the appointment of Omar Nokta as Managing Director of Shipping Research. Omar will be based in CCM's New York office. Omar brings significant sector experience and expertise to Clarkson Capital Markets. He joins CCM from Global Hunter Securities LLC where he was Senior Shipping Analyst. Prior to this he was Senior Research Analyst at Dahlman Rose…
Clarksons Appoint New Prospective Chairman
Leading shipping services group, Clarkson PLC, says that James Hughes-Hallett will join the Board as a Non-Executive Director with immediate effect and will take over as Chairman from 1 January 2015 when Bob Benton will retire from the Board. Clarksons explain that James Hughes-Hallett brings a wealth of experience in the world of shipping, transportation, offshore and global trade, having worked for the Swire group since 1976. He is currently chairman of John Swire & Sons Limited, a Non-Executive Director of Cathay Pacific Airways Ltd, Swire Pacific Ltd and Swire Properties Ltd.
Clarksons Report Strong First Half Performance
Leading shipping services group Clarkson PLC (Clarksons) has reported its unaudited Interim Results for the six months ended 30, June 2014. "Clarksons' strong performance in the first half of 2014 once again underlines the strength of the company's strategy and business model. Clarksons continues to make positive strides despite the challenges that remain in shipping markets and the weakness in the US dollar. "We have seen some tentative signs of recovery in certain areas of the market.
Russian Oil Tanker Rates Rise 51% in Two Days
The cost of shipping Russian oil to northwest Europe had the biggest two-day jump since April as traders accelerated bookings of tankers to load at the end of this month, curbing the number available for charter, reports Bloomberg. Rates for Aframaxes shipping 100,000 metric tons to Wilhelmshaven in Germany from Primorsk on the Baltic Sea climbed 51 percent to 113 Worldscale points, reports Bloomberg citing the Baltic Exchange , a London-based publisher of freight prices on more than 50 trade routes. That equals daily earnings of $47,168, almost three times what the ships made on Oct. 15. Shipments of oil on Aframaxes from the Baltic will rise 5 percent to about 1.7 million barrels a day this year, estimates Clarkson Plc, the world’s largest shipbroker.
Clarkson Appoint New Board Member
Clarkson PLC ("Clarksons") the shipping services group, is pleased to announce the appointment of Peter Backhouse as Non-Executive Director to the board with immediate effect. Peter has 40 years of experience in the international energy business. He is a former executive vice-president of global refining & marketing at BP plc; chief executive of European refining and marketing; and head of UK North Sea oil development. He also has considerable experience in international LNG and natural gas development. Peter is a Non-Executive Director at BG Group plc and is a member of the advisory Board of Riverstone Energy Partners, a private equity fund in the US. Philip Green, Chairman, commented: "On behalf of the board, I would like to welcome Peter to Clarksons.
Clarkson's Maritime Market Analyst Wins Medal
Clarkson Capital Markets (CCM) equity analyst, Urs Dur, winds silver medal for being one of the industry's top stock tipsters. The award was in the marine category in this year's Thompson Reuter's annual 'StarMine Analyst Awards' which are issued in collaboration with the 'Financial Times'. Clarkson Capital Markets (CCM) is the investment banking arm of Clarkson PLC, focussed on the global maritime, energy and natural resources sectors.
Clarksons PLC Maintain Profits in H1 2013
Clarkson PLC (Clarksons) a leading worldwide shipping services group, releases its unaudited interim results for the 6 months ended 30, June 2013. "Clarksons has delivered a resilient performance in the first half of 2013, achieved in global shipping markets which have seen significant challenges over the period. In these difficult times we have remained focused on the key elements of our strategy by developing our full service client offering, taking advantage of opportunities to strengthen our core broking teams with new hires and enhancing both our research product portfolio and support infrastructure. "The industry outlook remains challenging with the continued focus on the spot market limiting visibility.
Tankship Freight Rates in Swift Freefall
The biggest slump in tanker rates since January is signaling weaker U.S. oil imports, and is causing a 15-year low in the shares of one major crude-oil tankship operatore, reports Bloomberg. Rates for the biggest crude carriers tumbled 68 percent in the past two weeks, more than reversing their advance since the end of June, says Bloomberg, citing Clarkson Plc, although earnings had risen after oil cargoes to the U.S., the second-biggest source of demand for supertankers, expanded for three months.
VLCC Tankship Hires at 6-Year High
Bookings of the largest oil tankers jumped to the highest for the time of year since at least 2007 as demand for crude cargoes accelerates before a surge in oil refining projected by the International Energy Agency. reports Bloomberg. According to Bloomberg, who cite Marex Spectron Group, a London-based commodities and freight-derivatives broker. There are still more charters to arrange and it’s the second consecutive month when bookings have been at the highest for the period in Marex data starting in January 2007. The vessels each carry 2 million barrels.
Confident Korea Shipbuilder to Raise Price of Fuel-Savvy Ships
Hyundai Heavy Industries Co., the world’s biggest shipbuilder, plans to raise prices as demand for fuel-efficient vessels increases, reports the Japan News, citing Bloomberg, Singapore. Hyundai Heavy’s optimism helped drive up shares of South Korean shipbuilders Monday and contrasts with gloom over Chinese shipbuilders. A third of China’s yards may shut down in about five years as they struggle to win orders, an unamed industry group informed Japan Times. About 483 shipyards in China won $10.5 billion worth of orders in the first six months of this year, while 94 builders in South Korea got $18.5 billion, says the Japan Times citing Clarkson PLC.
Exxon Books Tankers to U.S. at Lowest Rates of 2013
Exxon Mobil Corp. booked two tankers to haul oil to the U.S. Gulf Coast via the Suez Canal in May at what may be this year’s lowest rates, a shipbroker told Bloomberg.com. “The very large crude carriers, each able to haul 2 million barrels of oil, will load in the Persian Gulf on May 7, Athens- based Optima Shipbrokers Ltd. said in an e-mailed report today,” Bloomberg.com reported. “The ships were chartered at rates of 15.75 and 16 industry- standard Worldscale points, it said. Hire costs for tankers shipping crude from the Middle East to the Gulf Coast continue to drop and are now down 26% from the start of 2013. Clarkson Plc (CKN) found VLCCs built in 2010 and carrying oil to the U.S.
StealthGas Plans to Capitalize on U.S. Gas Exports
Athens-based StealthGas (GASS) Inc. redeployed tankers as far as 13,500 miles to capitalize on record U.S. exports of liquefied petroleum gas, Bloomberg.com reported. StealthGas will reportedly increase its presence in the Americas crom the current 15% of its fleet to 25% by the December. This is due to the surge in cargoes exceeding the supply of ships from the Gulf of Mexico in the Caribbean and South America. The U.S. Energy Department data shows a 33% rise in national LPG shipments, and they are estimated to reach 12 million metric tons in 2015, more than doubling in two years. “StealthGas operates 33 fully-pressurized vessels that can haul 3,200 to 7,500 cubic meters of LPG, giving it a 14% market share, company data show.
Storms Cause Australia Bulk Rates to Dip
Iron ore and coal shipping rates slid for a fifth day amid speculation storms in Australia are curbing demand for vessels. Australia is the world’s largest exporter of iron ore and coal used to make steel, according to data from Clarkson Plc (CKN), the world’s largest shipbroker, informs Bloomberg. Daily earnings for Capesizes hauling 160,000 metric ton cargoes declined 1.7 percent to $7,785, according to the Baltic Exchange, the London-based publisher of freight rates. Losses extended across all four vessel types tracked by the Baltic Dry Index, leading the gauge of commodity shipping costs down 0.8 percent to 792. Source: Bloomberg
LNG Tanker Shipbuilders Avoid Slump
According to Bloomberg Business Week, prices for tankers able to hold 160,000 cubic meters of gas have held steady at about $202 million since 2010, based on Clarkson Plc data, bolstering earnings for South Korea-based Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co., the biggest makers of the vessels. Capesize dry-bulk ship prices have plunged 18 percent in the period because of a glut partly caused by China financing orders to prop up local yards. Chinese shipbuilders have been largely shut out of the LNG tanker market as the vessels are more complicated and more expensive to build than ships for carrying commodities or containers.