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MOL and China COSCO Shipping Jointly Own 4 LNG Carriers for Russia Yamal LNG Project

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that China COSCO Shipping Corporation Limited will take an equity stake in the MOL wholly owned subsidiary that will own four LNG carriers serving the Russia Yamal LNG project. The ownership will be split 50%-50% between MOL and China COSCO Shipping. MOL has [...]

By | November 3rd, 2017|News|0 Comments

The World Wind Energy Association And International Windship Association Unite To Promote Uptake Of Wind Technology In Shipping

The World Wind Energy Association (WWEA) has today announced a key strategic partnership with the International Windship Association (IWSA) in order to further promote the uptake of wind technology by the global shipping fleet. WWEA is a not-for-profit organisation with over 600-member organisations across 100 countries. The Association promotes the deployment of wind energy technology [...]

By | November 3rd, 2017|News|0 Comments

New Managing Director for Glander International Bunkering (Norway) AS

Glander International Bunkering, a leading marine fuel and lubricant trading firm, promotes Ole Morten Rismyhr to Managing Director of its Norway office. Rismyhr, the former International Sales Manager for the group’s Norwegian division, has been with the company since 2002, starting his career as a Bunker Trader. “I am delighted to promote Ole Morten Rismyhr [...]

By | November 2nd, 2017|News|0 Comments

Dry Bulk Market At Peak Level

The dry bulk market’s recent corrections seem to be helpful for the latest rally to “sink in” and for the restoration of the market’s balance and a rethinking of the prevailing fundamentals. However, according to Allied Shipbroking, the metals’ prices rally seems to indicate that there is still room for more freight rates increases until [...]

By | November 2nd, 2017|News|0 Comments

Dry Bulk: Is a greener China good news?

It probably is for steelmakers around the world. China’s effort to push for improving air quality might turn to be quite beneficial for global steelmakers. Nippon Steel & Sumitomo Metal Corp., the biggest producer in Japan, reported a nine-fold surge in first-half profit. This came as China’s decisive approach to eliminate pollution and eradicate industrial [...]

By | November 2nd, 2017|News|0 Comments

2020 Shipping Costs On The Back Of A Napkin

The shipping sector is predicted to spend anywhere from $24 to $60 billion annually starting in 2020 to comply with new sulfur emission restrictions. Jason Silber uses some back-of-the-napkin arithmetic to break down the gigantic numbers. How much more could a single merchant ship spend on extra fuel costs? Would economies of scale help large [...]

By | November 2nd, 2017|News|0 Comments

Aegean to exit Singapore physical market in 2018

New York-listed bunker fuel supplier Aegean Marine announced it will cease physical supply operations in Singapore as of January 2018. The company will fulfill all deliveries and contracts that have already been finalized, and will continue to maintain a trading presence in the port. Aegean cited increased competition in the port as a driving factor [...]

By | November 2nd, 2017|News|0 Comments

Genco Shipping & Trading Reports Third Quarter Loss of $31.2 million

Genco Shipping & Trading Limited reported its financial results for the three and nine months ended September 30, 2017. The following financial review discusses the results for the three and nine months ended September 30, 2017 and September 30, 2016. Third Quarter 2017 and Year-to-Date Highlights Recorded a net loss of $31.2 million for the [...]

By | November 2nd, 2017|News|0 Comments

The Bulkcarrier Orderbook: Tracking The Gradient

Following limited contracting in the bulkcarrier sector in the last three years, the bulkcarrier orderbook has declined significantly. By the start of October 2017, the orderbook totalled 623 vessels of 64m dwt, equivalent to 7.9% of fleet capacity, close to the lowest ratio on record. With newbuilding interest starting to pick up, could the bulker [...]

By | November 1st, 2017|News|0 Comments

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