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Shipping industry still weighed down by overcapacity

The Review of Maritime Transport 2017 says that seaborne trade grew by 2.6 per cent in 2016, reaching 10.3 billion tons. Although this was a welcome improvement to the 2.1 per cent growth recorded in 2015, the boost in demand was offset by a 3.2 per cent increase in the industry’s carrying capacity, which reached [...]

By | October 27th, 2017|News|0 Comments

Spot LNG shipping fleet to post an operating loss of US$230m in 2017

The pressure on LNG shipping spot rates will continue for another year on account of strong fleet growth. However, rates should strengthen from 2019 as fleet growth slows and trade remains strong, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. Spot rates (East of Suez) for modern [...]

By | October 27th, 2017|News|0 Comments

Hellas: Shipowners Reap the Benefits of newly-established Piraeus Free Zone

Last year COSCO and Trans-it joined forces to offer Greek ship owners a simplified process for VAT exemption. An integrated process in combination with new legislation made it possible for ship owners to move ship spares out of Greece with out the time consuming and cash flow limitations from earlier days. This has proven to be [...]

By | October 27th, 2017|News|0 Comments

Novorossiisk bunkers fuel discount to Istanbul widens amid divided market forces

The traditional discount of bunker fuel at Novorossiisk, Russia, to Istanbul, Turkey, reached its widest point in five weeks Wednesday amid bullish market conditions at the Turkish port and increased supply at the Russian port. S&P Global Platts assessed 380 fuel oil at the Russian Black Sea port at $357/mt delivered Wednesday, $37/mt below the [...]

By | October 27th, 2017|News|0 Comments

Shipping companies may adopt LNG as fuel faster than expected on carbon regulations – BSM

The shipping industry may adopt liquefied natural gas (LNG) as a fuel faster than expected because of stricter environmental regulations that target carbon dioxide emission, according to an executive at maritime agency Bernhard Schulte Shipmanagement (BSM). The Energy Efficiency Design Index (EEDI) regulation enacted by the International Maritime Organization (IMO) in 2013 will require newly [...]

By | October 27th, 2017|News|0 Comments

MOU Signing between Astomos and Elgas for further study in applying LPG as ship bunker fuel

Astomos Energy Corporation(“Astomos”) and Elgas Limited(“Elgas”), Australia’s leading LPG marketer and distributor have signed a Memorandum of Understanding(”MOU”) for the further study of LPG as a ship bunker fuel(“LPG bunkering”). LPG bunkering is a possible solution to meet the International Maritime Organization (IMO) shipping fuels SOx limit of 0.5% from 2020. This MOU will enhance [...]

By | October 27th, 2017|Uncategorized|0 Comments

Samudera Shipping Back In Profit Zone, But Warns Not out of the Woods Yet, As Challenging Conditions Still the Norm

The Group recorded a 7.4% increase in revenue to USD71.2 million for the second quarter ended 30 June 2017 (“2Q17”), from USD66.3 million in the corresponding quarter a year ago (“2Q16”). The improvement came mainly on the back of higher revenue contribution from its container shipping business segment. Driven mainly by the increase in container [...]

By | October 27th, 2017|News|0 Comments

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