ANTWERP, Belgium, 24 November 2017 – Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) is pleased to announce that the Company has sold the VLCC Artois (2001 – 298,330 dwt) for USD 22 million. The Artois is wholly owned by Euronav and is the oldest vessel in the Company’s VLCC fleet.

The Company will record a capital gain of approximately USD 7.7 million on the sale which will be recorded in the current quarter. The vessel is expected to be delivered to its new owners in early December. This is part of our on-going wider fleet renewal programme and with other recent initiatives reduces further the average age of our fleet.

About Euronav
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned and operated fleet consists of 56 double hulled vessels being 1 V-Plus vessel, 30 VLCCs, 19 Suezmaxes, four Suezmaxes under construction and two FSO vessels (both owned in 50\%-50\% joint venture). The Company’s vessels mainly fly Belgian, Greek, French and Marshall Island flags.

Panama - The Republic of Panama and the People’s Republic of China have signed an agreement on maritime transport, in presence of China’s president Xi Jiping and Panama’s president Juan Carlos Varela.

Panama - The Republic of Panama and the People’s Republic of China have signed an agreement on maritime transport, in presence of China’s president Xi Jiping and Panama’s president Juan Carlos Varela, during his first visit to this country after establishing diplomatic relations. Subscribed by Panama’s Minister of Maritime Affairs Jorge Barakat and Chinese Minister of Transport Li Xiaopeng, the agreement highlights a milestone in the relations of Panamanian and Chinese maritime sectors as it will enhance the cooperation and development in the traffic of commercial vessels between both countries for facilitating cargo and passengers transport.

Minister Barakat who is also the administrator of the Panama Maritime Authority, said that this agreement “will help promoting maritime and ports development of Panama and China, strengthen the Panama Ship Registry and will support the Chinese Maritime Authority in the maritime safety issues of Panama-flagged vessels that sail in its waters.” 
“I am convinced that it will mark the commencement of a fruitful cooperation for China and Panama maritime sectors that will benefit from this accord, opening a new era or our Ship Registry which is granted ‘the Most Favoured Nation’ treatment with regards to access of ports,” Barakat added. From now on, Panama-flagged vessels will enjoy the advantages and lower port costs applicable to other States which have similar agreements with China. The accord includes transfer of knowledge and technical control of the documentation of ships and crews on board Panamanian vessels.

“We will increase the participation of Chinese seamen aboard Panamanian ships and recognize several maritime training centers from China as part of our international expansions strategy,” said Minister Barakat. Panama will also be able to register shipping companies and Chinese vessels, directly in the main maritime cities of the People’s Republic of China, including the registration services of naval mortgages and property titles and with full diplomatic relations Panama will be qualified to establish technical offices in China for the control of maritime safety and navigation of its vessels, since Panama is going to open several consulates in China. 

Source: Panama Ship Registry

The first passenger shipping company worldwide that follows the international GRI Standards of the Global Reporting Initiative.

Attica Group published the 8th Corporate Social Responsibility Report for the year 2016, in accordance with the GRI Standards' guidelines of the Global Reporting Initiative (Accordance level "Core"). With this publication, Attica Group becomes the first passenger shipping company worldwide whose Report is in accordance with the GRI Standards.  

The Report presents transparently and clearly all actions that the Group undertakes, the progress accomplished, as well as those sectors that need improvement, thus, constituting the basis for further dialog on issues of Corporate responsibility with all Social Partners. 

This Report is the capstone of an effort supported by all of the Group's employees and in which 200 quantitative indexes are mentioned (compared to 185 the previous year) and 33 future targets are presented (compared to 24 the previous year).  

Commenting on the publication of the 8th Corporate Social Responsibility Report of Attica Group, the CEO of the Group Mr. Spyridon Paschalis underlined:

"Through our operation all these years, we strive for the constant development and evolution both of the sector and our country's economic activity, especially during the current period, due to the special challenges that stem from the constantly changing national and international environment.  For this reason, we recognize the need to participate actively in further diffusing responsible business practices.  Our main pursuit is to continue our efforts in the sector of Corporate Responsibility that constitutes one of the six values of our Group."

 

The Corporate Social Responsibility Report 2016 is available on the Group's website www.attica-group.com

Attica Group engages in passenger shipping via the SUPERFAST FERRIES, BLUE STAR FERRIES and AFRICA MOROCO LINKS (AML) companies, operating a total of 15 ships that provide modern, high quality transportation services in Greece and abroad.  ATTICA GROUP is a member of the Marfin Investment Group (MIG) with controlling stakes in a number of leading companies.

In a market range, but technically bullish. Upside moves that make fresh market highs will create a bearish divergence and market buyers should remain cautious on bullish breakouts because of this.

• Dec – The fresh market high has put the Dec futures in bullish territory. However we are now seeing a bearish divergence in the market and this would suggest we could soon see another corrective phase.

• Cape Q1 18 – A bullish technical that is already reacting to the bearish divergence in the market. Caution on a close below USD 11,157.

• Cal 18 –Like the Q1 18 futures the Cal 18 is technically bullish but reacting to a bearish divergence in the market. Caution on a close below USD 13,883.

Capesize Index

Support – 20,626, 19,893, 17,929
Resistance – 22,631, 27,866

Weekly stochastic in overbought territory

Daily stochastic at 32

The Capesize index is currently range bound but remains in a bullish technical phase, based on higher highs and higher lows. The stochastic is looking weak and not matching price action and this would suggest that if we see an index print above USD 22,613 it will almost certainly result in a bearish divergence. Not a sell signal this does suggest that upside momentum is slowing and market buyers should keep risk tight. Caution on market pullbacks below USD 20,626 as this will increase the probability of a lower high forming and the index entering into a longer term corrective phase.

Capesize Dec 17 Daily

Support – 16,270, 16,035, 15,550
Resistance – 18,525, 18,729, 19,007

Daily stochastic is at 73

The new high close on the 20/11/17 triggered a bearish divergence with the stochastic. Not a sell signal it does warn of weakening momentum and has resulted in the Dec futures making a lower daily close. Divergence aside the fresh market highs have put the technical back into a bullish trending environment, and at this point a market pullback is expected to produce a higher low. Downside moves that close below the USD 16,270 support would neutralize the current upward move, and increase the probability of a lower high forming, and a potentially more sustained corrective phase.

Capesize Q1 Daily

Support – 11,157, 10,983, 10,220
Resistance – 11,957, 12,451, 12,757

Stochastic is at 80

The Q1 18 futures continue to make higher highs and higher lows and remain in a bullish trending environment. The recent ne high close has resulted in a bearish divergence forming. This does not mean the market top has been achieved, but it does suggest the current upward wave is entering a corrective phase. Downside moves that close below the USD 11,157 support would suggest that this could be more than a corrective wave within a bull trend, and increase the probability of a lower high forming.

Capesize Cal 18 Daily

Support – 13,883, 13,791, 13,340
Resistance – 13,465, 14,567, 14,829

Stochastic is at 73

In essence the Cal 18 technical is very similar to that of the Q1 18. The fresh market high has resulted in a bearish divergence and the bull technical has entered into a corrective phase. Downside moves the close below the USD 13,883 support would weaken the technical and increase the probability of a lower high forming. However downside moves that hold above the current support level would suggest upside continuation. Technically bullish but in a corrective phase.

Source: Freight Investor Services (FIS)

 

Athens, November 26, 2017 Capital Ship Management Corp. announced that Mr. Evangelos Marinakis, the Chairman of Capital Maritime & Trading Corp., was voted as Lloyd’s List’s “Greek Shipping Personality of the Year” for 2017.

The award caps a very active year for Mr Marinakis and the Capital Group as it expanded significantly across the tanker, container and dry bulk sectors growing the fleet under management by 17 vessels to a total of 71 vessels including 45 tankers, 19 container carriers and 7 bulk carriers.    

Beyond the shipping sector, in 2017, Mr Marinakis continued to make an impact both in Greece and internationally across a range of other business and philanthropic activities. These included his acquisition of storied English football club Nottingham Forest; the acquisition of Greek media group DOL; the dedication of a new monument in Piraeus to the victims of the Pontus Greek genocide; the sponsorship of a special conference in partnership with Harvard University focusing on football's social responsibility; the renewal of a ground-breaking partnership of Olympiacos with UNICEF to vaccinate children against preventable diseases.

The 14th year of the Greek Shipping Awards and gala presentation dinner was held at the Athenaeum Intercontinental in Athens and was attended by around 1,200 guests, including many of the leading figures in the maritime industry.

Presenting Mr Marinakis with his award, Mr Nigel Lowry from Lloyd’s List commented:

“Evangelos Marinakis was the outstanding candidate for this year’s award. His dynamic deal making across Capital Group’s three sectors of tankers, containers, and dry bulk reflects the positive outlook and trends that we are increasingly seeing in our industry. Mr Marinakis has consistently been ahead of those trends, as his $1 billion in investments in 2017 illustrates.

Although he clearly merits this award on the strength of his shipping activities alone, it is also remarkable that he finds time to pursue a number of very important philanthropic causes, as well as other business interests in sports and media, both in Greece and internationally. He is indeed a very deserving winner.”

Evangelos Marinakis commented: “First of all, I would like to thank Lloyd’s List for organizing this evening’s awards event. They are the traditional voice of our industry and we are all grateful.

I’m proud of the coincidence to be born Greek and be involved in Shipping. In the shipping world, you learn from the very beginning how to deal and compete with high waves, with enormous companies and very talented, bright and experienced people. Therefore in order to really succeed at a high level, you must work very hard, Perform, have Faith and be consistent and proactive towards the requirements of our industry, which increase almost daily. During this magnificent, but also difficult voyage you learn how to fight and be a winner. In order to manage all this, you need to have the right colleagues on your side, the best skillful crews and a Family who will stand behind you and support you. I thank them all very much for their faith and loyalty towards myself.

Our success in shipping allowed us to make important contributions and be winners in other areas: sports, including football of course in Greece and in England, in the Media sector, and in our beloved Municipality of Piraeus. Our achievements in shipping give us the power to try our very best to contribute to our society. The independence from any Greek government (especially SYRIZA-ANEL) gives us the freedom to express our opinions, our views and expectations for a better future for Greece.

God bless our country and all of us. Thank you all very much.”

Tim Huxley, Chairman, Mandarin Shipping, spoke on the outlook for the shipping industry with Bryan Curtis and David Ingles, saying the biggest problem recently has been with supply of ships.

He went on to look at new regulations on sulphur dioxide emissions and the level of consolidation he sees ahead.

running time :07:45

source:bloomberg.com

NOVEMBER 22, 2017 — As part of U.S. efforts to disrupt North Korea's funding of its nuclear and ballistic missile programs, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) yesterday sanctioned one individual, 13 entities, and 20 vessels.

It also released images of a North Korean attempt to evade sanctions by ship-to-ship transfers.

The sanctions target third-country persons with long-standing commercial ties to North Korea, as well as the transportation networks that facilitate North Korea's revenue generation and operations.

"These designations include companies that have engaged in trade with North Korea cumulatively worth hundreds of millions of dollars," said Treasury Secretary Steven T. Mnuchin. "We are also sanctioning the shipping and transportation companies, and their vessels, that facilitate North Korea's trade and its deceptive maneuvers."

Eleven of yesterday's designations were issued pursuant to E.O. 13810, which targets, among others, persons that operate in the North Korean transportation industry, as well as persons who have engaged in a significant importation from or exportation to North Korea. The remaining entities were sanctioned pursuant to E.O. 13722, which targets, among others, persons involved in the exportation of workers from North Korea, including exportation to generate revenue for the Government of North Korea or the Workers' Party of Korea, and blocks the property and interests in property of the Government of North Korea and the Workers' Party of Korea. As a result of yesterday's actions, any property or interests in property of those designated by OFAC within U.S. jurisdiction are blocked, and transactions by U.S. persons involving the designated persons are generally prohibited.

Chinese Trading Companies and Individual

OFAC designated Dandong Kehua Economy & Trade Co., Ltd., Dandong Xianghe Trading Co., Ltd., and Dandong Hongda Trade Co. Ltd. pursuant to E.O. 13810. Between January 1, 2013 and August 31, 2017, these three companies cumulatively exported approximately $650 million worth of goods to North Korea and cumulatively imported more than $100 million worth of goods from North Korea. These goods have included notebook computers, anthracite coal, iron, iron ore, lead ore, zinc ore, silver ore, lead, and ferrous products.

OFAC designated Sun Sidong and his company, Dandong Dongyuan Industrial Co., Ltd. (Dongyuan), pursuant to E.O. 13810. Sun and Dongyuan were responsible for exporting over $28 million worth of goods to North Korea over several years, including motor vehicles, electrical machinery, radio navigational items, aluminum, iron, pipes, and items associated with nuclear reactors. Dongyuan has also been associated with front companies for weapons of mass destruction-related North Korean organizations.

North Korean Shipping and Trading Companies and Vessels

OFAC identified the Maritime Administration of the Democratic People's Republic of Korea (DPRK) and the Ministry of Land and Maritime Transportation of the DPRK as agencies, instrumentalities, or controlled entities of the Government of North Korea, pursuant to E.O. 13722. OFAC also designated six North Korean shipping and trading companies pursuant to E.O. 13810 for operating in the transportation industry in North Korea, and OFAC blocked 20 of their vessels, all of which are DPRK-flagged:

Korea Rungrado Shipping Company and its vessels PU HUNG 1, RUNG RA DO, and YANG GAK DO; Korea Rungrado Ryongak Trading and its vessels RUNG RA 1 and RUNG RA 2; Yusong Shipping Company and its vessels WON SAN 2, ZA RYOK 2, 7-28, YU SONG 12, and YU SONG 7; Dawn Marine Management Co. Ltd and its vessels JANG GYONG, KUM SONG 3, KUM SONG 5, KUM SONG 7, and KUM UN SAN 3; Korea Daebong Shipping Company and its vessel RAK RANG; and Korea Kumbyol Trading Company and its vessels KANG SONG 1, KU BONG RYONG, SO BAEK SAN, and RYE SONG GANG 1.

North Korea is known to employ deceptive shipping practices, including ship-to-ship transfers, a practice prohibited by United Nations Security Council Resolution (UNSCR) 2375 of September 11, 2017. The images below were taken on October 19, 2017, and they depict a recent attempt by Korea Kumbyol Trading Company's vessel RYE SONG GANG 1 to conduct a ship-to-ship transfer, possibly of oil, in an effort to evade sanctions:

North Korean Overseas Labor Revenue

OFAC designated Korea South-South Cooperation Corporation pursuant to E.O. 13722 for having engaged in, facilitated, or been responsible for the exportation of workers from North Korea, including exportation to generate revenue for the Government of North Korea or the Workers' Party of Korea. Korea South-South Cooperation Corporation has operated in China, Russia, Cambodia, and Poland. UNSCR 2375 prohibits countries from providing work authorizations after September 11, 2017 for DPRK nationals in their jurisdictions in connection with admission to their territories unless approved in advance.

For identifying information on the individuals and entities sanctioned yesterday, click HERE

In response to growing customer interest in reflective learning, Seagull Maritime has incorporated reflective exercises into all of their learning films, giving learners the ideal opportunity to consider what they have seen and to discuss it with their colleagues.

A reflective learning session is much more than just watching a film. Experience or listening on their own do not necessarily lead to learning, but deliberate reflection on experience leads to deeper learning and engages the learner in the learning process. It is a tool that allows them to think about what they have seen, heard or experienced during the training session. Each participant can then contribute to the discussion and the group can consider how the topic relates to their everyday lives, resulting in a more rewarding learning experience.

The learner must compare what they are being told during training with their own experiences and knowledge of the procedures on the ship. They must ask themselves, ‘What have I learned?’ and ask others, ‘What have you learned?’ It’s important that the learner values contributions from others and that they are not afraid to join in with discussions and share their thoughts and experiences.

Reflective learning works best when there is an open and positive atmosphere where all participants can express their opinions and concerns. Perception and perspective are very individual and the participants should be encouraged to share different views. This will result in a common understanding of the issues and lead to a stronger safety culture on board the vessel that just watching a video would not provide.

As the leading providers of Safety Through Knowledge in the maritime industry, Seagull Maritime supports reflective learning as an essential component of effective training on board. For more information on Seagull’s approach to this subject and further guidance on how to maximize the benefits from this important learning technique, please contact your dedicated account manager.