The magical musical experience that is Jam Cruise will be setting sails next January, when Jam Cruise 16 takes over the Norwegian Jade from January 17th through 22nd. After it embarks from Miami, Florida, the cruise will round through Roatan, Honduras, and Grand Cayman during its weeklong circuit. One of the benefits of Jam Cruise and what makes it such a highly anticipated event each year is the intimacy provided by being trapped on a boat in the middle of the ocean with your favorite musicians—the event is chockful of awesome collaborations that are unlikely to go down elsewhere due to the fact that such huge name musicians rarely gather together will open schedules specifically for hanging out and making music.Watch Nikki Glaspie Crush Vocals On “Killing In The Name” With Galactic On Jam Cruise [Pro-Shot]One huge moment from this year’s Jam Cruise was The Nth Power’s Nikki Glaspie’s supergroup dubbed the Nikki Glaspie Super Jam. Today, Jam Cruise released new footage of the super jam getting down on The Gap Band’s “Humpin’.” This sweet collaboration went down on the last day of Jam Cruise on January 24th of this year on the Pool Deck. In the pro-shot video, you can see DJ Williams of Karl Denson’s Tiny Universe and Adam “Shmeeans” Smirnoff of Lettuce holding down guitar duties with Tony Hall on bass. Ivan Neville takes on the vocal duties for the number, with Joey Porter taking over toward the end of the video on talkbox. In addition to Neville and Porter, Nigel Hall also accompanies the duo on keys. You can check out the video for yourself below to get stoked for next year’s Jam Cruise, which is bound to have similarly all-star collaborations across its trip. You can check out this year’s massive Jam Cruise lineup here, and get more information about the event on its website here.
The medium range (MR) product tanker market sustained an unanticipated blow from a number of one-time events in the second quarter of 2018, Anthony Gurnee, Chief Executive Officer of Ardmore Shipping, said in a conference call.These events included lower demand at the Atlantic Basin as a result of localized factors in the key consumer markets in Brazil, Mexico and West Africa, largely political issues, according to Gurnee, followed by high oil and bunker prices as well as weak crude tanker market.As a result of the unprecedented downturn of the crude oil taker market, fueled by geopolitical tensions and tonnage oversupply, crude tanker owners have started taking a portion of the product tanker cargoes to ease their woes.“Crude tanker market weakness resulted in some encroachment to product tanker trades, particularly Aframax newbuildings competing with LR2s,” he said. “Having said that, we feel that the impact of crude tankers on MR trade is limited, probably well under 1% of overall supply.” However, despite the quarter being unexpectedly tough, Gurnee believes that moving ahead the outlook is positive as MR supply growth remains at all-time lows.“We’re forecasting 23 MRs to deliver over the remainder of 2018, with 29 delivered year-to-date, and this is compared to the 5-year historical average of 112 per year. Scrapping has increased with 31 MRs scrapped year-to-date, indicating a run rate of approximately 50 to 60 per year, and as a consequence, MR fleet growth net of scrapping is expected to be well below 1% in 2018 and into 2019,” Gurnee explained.Furthermore, demand fundamentals remain solid in terms of oil consumption growth and export-oriented refinery capacity development.“Atlantic Basin cargo volume should return to normal levels in the second half as the short-term factors play themselves out. Refined product inventories are well below 5-year averages, and with refinery throughput set to increased by further 2 million barrels a day in the third quarter to all-time highs, the conditions are in place for an increase in CPP trading activity,” he added.Ardmore also believes that the IMO 2020 sulphur regulations will have a positive impact on the market as of next year boosting ton demand and demand growth for product tankers.Ardmore Shipping Corporation reported a net loss of USD 13.7 million for the six months ended June 30, 2018, sinking further into the red from last year’s USD 4 million, mostly driven by challenging charter market conditions.Spot and pool MR tankers earned an average of USD 12,086 per day, while chemical tankers earned an average of USD 12,816 per day for the six months ended June 30, 2018.World Maritime News Staff