Scorpio sells final Dorian stake

NYSE-listed Scorpio Tankers has sold all of its remaining shares in Dorian LPG, a move viewed as a positive by analysts.
Scorpio disclosed on 24 July that it will sell 3,392,083 Dorian shares to Sino Energy Holdings for USD16.16/share. On 19 July Scorpio confirmed it was selling 6 million shares to
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U.S. Blacklists Singapore Shipping Firm

By MarEx 2015-07-24 10:08:51

The US blacklisted Senat, a Singapore shipping firm, Thursday. The US Department of the Treasury believes Senat Shipping is supporting illicit arms shipments to North Korea. The blacklisting freezes any US assets held by Senat and its president, Leonard Lai. Senat Shipping denies the allegations.

The Department of Treasury alleges that Senat supported the Ocean Maritime Management Company (OMMC) in arranging a shipment of arms on the Chong Chon Gang ship that was seized in Panama in 2013. OMMC is a North Korean firm already under US sanctions. The Chong Chon Gang was seized for transporting undeclared military equipment from Cuba to North Korea under a cargo of sugar.

According to US authorities, Senat arranged the purchase, repair, certification and crew for the OMMC. Senat released the following statement: “The US Treasury’s move to put Senat and Leonard Lai on the OFAC (Office of Foreign Assets Control) list is a misguided measure purely based on Senat’s historical dealings with OMM.”

Senat also contends that while they did have a relationship with North Korea in the past and did charter the Chong Chon Gang, the relationship was dissolved following the vessel’s seizure.

The Department of Treasury also alleges that OMMC operates through a variety of front companies and representative offices to evade sanctions.

Details

US Blacklists Singapore Shipping Firm

By MarEx 2015-07-24 10:08:51

The US blacklisted Senat, a Singapore shipping firm, Thursday. The US Department of the Treasury believes Senat Shipping is supporting illicit arms shipments to North Korea. The blacklisting freezes any US assets held by Senat and its president, Leonard Lai. Senat Shipping denies the allegations.

The Department of Treasury alleges that Senat supported the Ocean Maritime Management Company (OMMC) in arranging a shipment of arms on the Chong Chon Gang ship that was seized in Panama in 2013. OMMC is a North Korean firm already under US sanctions. The Chong Chon Gang was seized for transporting undeclared military equipment from Cuba to North Korea under a cargo of sugar.

According to US authorities, Senat arranged the purchase, repair, certification and crew for the OMMC. Senat released the following statement: “The US Treasury’s move to put Senat and Leonard Lai on the OFAC (Office of Foreign Assets Control) list is a misguided measure purely based on Senat’s historical dealings with OMM.”

Senat also contends that while they did have a relationship with North Korea in the past and did charter the Chong Chon Gang, the relationship was dissolved following the vessel’s seizure.

The Department of Treasury also alleges that OMMC operates through a variety of front companies and representative offices to evade sanctions.

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Damen launches Maersk offshore carrier

Damen Shipyards Group has launched subsea support vessel Maersk Connector on 23 July at its Galati yard in Romania.
It is the second of the Offshore Carrier 8500 design, a new generation of cable-laying vessels developed by Damen as a flexible platform for both transport and installation work
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HMD wins two LPG carriers

South Korean mid-tier shipbuilder Hyundai Mipo Dockyard (HMD) said on 24 July it has won orders for two LPG carriers.
The customer is believed to be a Greek shipowner but HMD would not provide further details.
The price of the two ships is KRW115.3 billion (USD99.19 million), working out to just
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London cruise terminal approved

A plan to build a cruise terminal at Greenwich, London, has been given local authority planning approval.
The facility will be built at Enderby Wharf on the Greenwich peninsula and called London City Cruise Port. It will be able to accommodate vessels up to 240 m long with 8 m draught when
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OW Bunker customers risk double payment

Shipowners and charterers who bought bunker fuel from OW Bunker’s Singapore subsidiary Dynamic Oil Trading may face the risk of paying the physical fuel oil supplier twice.
On 21 July 2015 the Singapore Court rejected the application for interpleader relief.
OW Bunker, a Danish bunker trader, went
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Sainty Marine chairman resigns

Wang Shuhua, chairman of financially struggling Chinese shipuilder Sainty Marine, has resigned ‘on personal work grounds’.
The Shenzhen-listed company made the announcement in a stock exchange filing on 24 July. It said it would elect a new chairman in the near future.
Wang’s resignation comes
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