Shipping News
First Photos of Damaged Iranian Tanker Released
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Iranian state news outlet Shana has released its first images of the damage to the tanker Sabiti, which suffered two explosions and two hull breaches on Friday

Indian Government May Sell its Stake in SCI
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The government-owned Shipping Corporation of India (SCI), the largest deep sea shipowner in the country, may soon be up for sale as part of a larger privatization bid.

Tanker Market: Will it End 2019 With a Bang?
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Tanker freight rates have rallied during the past few weeks, in the aftermath of the attacks on Saudi Arabia’s oil facilities. With production now almost reaching pre-strike levels, it seems that the tanker market is primed for a sustainable rally, as the traditionally strong fourth quarter has officially began. In its latest weekly report, shipbroker Gibson said that “at the time of writing this report, spot TCE earnings on most benchmark crude trades stood at or close to their highest level this year, after firming spectacularly over the past two weeks, in part on the back oft he attacks on Saudi oil infrastructure. This week’s US sanctions on two Cosco subsidiaries added more fuel to the fire. The current strength in rates has been triggered by geopolitics; however, both demand and supply factors suggest tightening tanker supply/demand balance as we approach the 4th quarter of the year”.

Bourbon Rhode Confirmed Sunk
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Rescue teams have recovered a lifeboat with three Bourbon Rhode crew members on board, 11 remain missing.

U.S. Sanctions COSCO Companies for Transporting Iranian Oil
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The U.S. has taken “further action as part of our maximum economic pressure campaign against the Iranian regime and those who enable its destabilizing behavior” by imposing sanctions on six Chinese companies.

Russian Factory Ship Catches Fire, Prompting Mass Evacuation
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The giant fish processor ship Piotr Zhitnikov caught fire Monday at a position off the island of Shikotan, Japan, forcing the evacuation of 363 members of her crew. 53 other crewmembers remained on board to fight the fire, according to officials at the marine rescue center in Yuzhno-Sakhalinsk. 

Somali Pirates Release Iranian Seafarer After Years of Captivity
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An Iranian fisherman held by Somali pirates for more than four years has finally been released, according to Iranian officials and the nonprofit Hostage Support Network. 

Saudi Forces Intercept Houthi Bomb Boat off Hodeidah
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The Saudi-led coalition backing the Yemeni government has destroyed another bomb boat operated by Houthi rebels off the port of Hodeidah, according to Saudi outlet Al Arabiya.

Saudi Military Blames Iran for Attack on Abqaiq
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On Wednesday, Saudi officials displayed what they described as drone and missile wreckage from last weekend's attacks on the Abqaiq oil processing complex. 

DSME Gets AiP for World’s Largest Ethane/Ethylene Carrier Design
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South Korea’s Daewoo Shipbuilding and Marine Engineering has received an Approval in Principle (AIP) from classification society ABS for its 165,000 cbm jumbo ethane/ethylene carrier design.