Ship finance cash crisis to worsen in second half

Source: Lloyd's List
Shipowners are warning of potential difficulties in financing the massive newbuilding orderbook over the next few years as funding dries up. Last year saw 412 global shipping deals worth a total of $87.7bn. By July 7 this year there had been just 104 global shipping deals worth $24.9bn.

Slow steaming could leave owners with huge bills

Source: Lloyd's List
With many owners and charterers are seeking to mitigate progressively costlier bunker consumption by reducing steaming speeds, this article warns that, unless the procedure is well managed, there is an increased risk of machinery failure, particularly with slow-speed engines, which are designed to operate at a high load and to steam slowly only for short periods, for example, during manoeuvring.