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Novatek Ships 1st LNG Cargo to China via Northern Sea Route

Russian gas company PAO Novatek has shipped its first cargoes of liquefied natural gas (LNG) from the Yamal LNG project to China via the Northern Sea Route. To commemorate the occasion, the arrival of LNG carriers Vladimir Rusanov and Eduard Toll was celebrated in the Chinese port of Jiangsu Rudong. The two ships took 19 [...]

By | 2018-07-20T06:39:58+00:00 July 20th, 2018|News|0 Comments

MSI: EU Needs to Speed Up Approvals of Asian Shipbreaking Yards

The European Union should step up its assessment of Asian shipbreaking yards to allow the effective implementation of the Hong Kong Convention, according to independent research and consultancy firm Maritime Strategies International (MSI). As explained by Will Tooth of MSI, regional regulation and national policies are putting competing pressures on the scrapping market just as [...]

By | 2018-07-20T06:16:39+00:00 July 20th, 2018|News|0 Comments

Mermaid Maritime wins $16m Middle East contract

Mermaid Maritime has won a $16m subsea services contract in the growing Middle East market. The offshore services company said in a stock market announcement that work for the job in one of the Gulf Cooperation Council (GCC) countries, is scheduled to be performed in the Arabian Gulf from August 2018 until March 2019. Mermaid [...]

By | 2018-07-20T07:03:58+00:00 July 20th, 2018|News|0 Comments

China LNG carrier makes first Northern Sea Route voyage to deliver Yamal gas directly to Jiangsu

Mitsui OSK Lines (MOL) and China COSCO Shipping Corporation’s Ice-Breaking LNG carrier Vladimir Rusanov made its first Northern Sea Route (NSR) transit without ice breaker support and also made its first call at the PetroChina LNG Jiangsu Terminal, marking the first direct LNG delivery to China from the Yamal LNG project, this week. The vessel [...]

By | 2018-07-20T05:54:05+00:00 July 20th, 2018|News|0 Comments

Marshall Islands Registry: Biggest and Best Posidonia

The Marshall Islands Registry’s celebration at Posidonia in Athens was a success this year. Held at Ble Azure, approximately 4,000-4,500 guests gathered to celebrate the achievements of the world’s second largest ship registry. Guests included the Greek Minister of Shipping and Islands Policy, Panagiotis Kourouplis, alongside Greek and international shipowners, lawyers, bankers, surveyors, insurers, brokers, [...]

By | 2018-07-20T04:17:37+00:00 July 20th, 2018|News|0 Comments

Overcapacity Threatens To Capsize Global Tanker Market

Surplus tanker capacity still plagues the shipping industry, with weak oil demand in the second quarter of 2018, and a short-term view for shipping rates that are plummeting. Crude shipping from Latin America, Africa, and the Middle East is likely to increase slowly, while shipments to the US and Europe will diminish for the remainder [...]

By | 2018-07-20T04:11:38+00:00 July 20th, 2018|News|0 Comments

Buy in July? MSI tips Capes for strong six month performance

Capesize spot rates could rise above $25,000 per day in Q4 if iron ore exporters meet planned shipment targets, with the upside cascading into the Panamax market as shippers consider splitting ore cargoes, according to the latest Dry Bulk Freight Forecaster from Maritime Strategies International.* The dry bulk market continues to enjoy a strong summer [...]

By | 2018-07-20T03:59:54+00:00 July 20th, 2018|News|0 Comments

Scrubber Demand Booming as Oil Market Braces for IMO Regulations

One of the world’s most polluting fuels may have some life left in it yet. Demand for high sulfur fuel oil is expected to crater in 2020 when the International Maritime Organization introduces a cap on sulfur. But companies that build exhaust cleaning systems for ships, which enable the vessels to keep burning the fuel, [...]

By | 2018-07-20T03:57:33+00:00 July 20th, 2018|News|0 Comments

Dry Bulk Market: Net Fleet Growth Keeps Falling in Boom Sign for Rates

In what seems to be a very healthy development for the future potential of the dry bulk market, shipbroker Allied reported this week, that during the first half of 2018, the net fleet growth was significantly lower than even the respective period of 2017. In its latest weekly report, Allied Shipbroking said that “despite being [...]

By | 2018-07-20T03:54:35+00:00 July 20th, 2018|News|0 Comments

Liberia adopts law amendments in line with new ship finance environment

The Republic of Liberia has responded to the needs of shipowners and the ship financing and legal community by amending Liberian maritime law to allow lease financing structures to be recorded as mortgages. As a result, Liberia is the only flag state with preferred status in China able to record financing charters. The advantages offered [...]

By | 2018-07-20T03:49:51+00:00 July 20th, 2018|News|0 Comments

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