1. Chaos at Lexmar Corp: Only thing left is prayer
TradeWinds reported in its early editions in 1990 that Connecticut tanker operator Lexmar Corp was in a fierce battle with shipowners over allegations that it was failing to pay time charters.
After a crisis meeting failed to reach a resolution, owner Bergesen issued a statement saying Lexmar would not pay charter hire on a tanker.
On 5 October 1990, a Norwegian publisher launched a blue paper with a vision to cover the global business of shipping and its unique characters. Now, you can look back over more than 1,500 weekly editions to see who was making the news and why at key times in the industry’s history.
Amid the growing dispute, TradeWinds learned that Lexmar managing director Morten Kristiansen had resigned over allegations that money had been shifted from shipping operations to the company's real estate holdings.
Later, TradeWinds founding editor Trond Lillestolen hired Joe Brady as a freelancer to start covering the US legal battle that ensued. He later joined TradeWinds' reporting staff in Stamford.
2. SeaTeam cuts back; boss fired
In 1991, John Fredriksen fired the managing director of SeaTeam, a key company in the shipping tycoon's portfolio. Hans Fiskevold was replaced by Svein Steimler, who was in charge of the group's projects.
But the new managing director was poised to have smaller mandate, as Fredriksen was planning scale back Oslo-based SeaTeam in favour of new chartering company to be based in London.
3. Rasmussen: 'no tankers to the US'
TradeWinds reported in 1992 that Norway's Rasmussen group joined shipowners steering clear of the US market as a result of oil spill liability fears.
The move is part of concerns over the controversial Oil Pollution Act of 1990 (OPA 90), the law passed in the wake of the Exxon Valdez spill.
4. Ship sinking spurs inquiry
In TradeWinds' early days, covering casualties involving rust bucket ships and writing about the owners behind them was a core area of coverage.
Such was the case when the tanker 70,000-dwt Katina P sank off Mozambique in 1992, touching off an oil spill. TradeWinds reported that a naval architect that boarded the ship before it went down said it had 40% of its original strength on deck, though owner Polembros Shipping insisted the ship was structurally sound.
5. NJ Goulandris keeps a steady course
John Landells delivered an inside look at Greek owner NJ Goulandris, a family-controlled company looking to maintain high technical standards in an industry that often lacked them.
It was a rare treat at a time when shipowners were not often willing to open their doors to journalists for on-the-record interviews.
