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Gasum: The World’s First LNG-fueled Icebreaker Polaris Bunkered in Pori and Tornio, Finland

The world’s first LNG-fueled icebreaker, Polaris, received liquefied natural gas (LNG) fuel in January from the Pori LNG import terminal and in February from the Manga LNG terminal located in the Röyttä Harbor in Tornio, Finland. The commercial use of the Tornio import terminal begins this year. The gas and fuel market of Northern Finland [...]

By | 2019-02-15T06:15:13+00:00 February 15th, 2019|News|0 Comments

Tanker Market: Fleet Growth Robust Despite Uncertainties

VLCCs and MR product tankers have been the “weapon of choice” among ship owners looking to make plays in the tanker market. Despite the geopolitical and financial uncertainties which are having an adverse effect on the shipping markets, a lot of ship owners have sought to conclude deals in the tanker market, taking advantage of [...]

By | 2019-02-14T07:46:13+00:00 February 14th, 2019|News|0 Comments

BIMCO Demands 4th IMO GHG Study Based On Realistic Economic Growth

BIMCO has proposed that the Fourth International Maritime Organization (IMO) Greenhouse Gas Study does not include unrealistically high gross domestic product (GDP) growth projections to predict future transport demand – and thereby emissions – of the shipping industry. The proposal has been made to the expert workshop preparing for the study, which is meeting in [...]

By | 2019-02-14T07:40:37+00:00 February 14th, 2019|News|0 Comments

IMO regulations will roil oil markets, creating market uncertainty, higher costs, new IHS Markit report says

The refining and shipping industries are ill-prepared for a massive change in fuel regulation set to go into effect next year. The resulting market impacts will be major, costly and far-reaching, says a new report from IHS Markit (Nasdaq: INFO), the leading global source of critical information and insight. The impending regulation by the International [...]

By | 2019-02-14T07:38:44+00:00 February 14th, 2019|News|0 Comments

Singapore’s SGX says IMO 2020 sulfur cut may impact on iron ore, freight prices

The Singapore Exchange said Wednesday that lower sulfur requirements for bunker fuel from 2020 may lead to a squeeze in FOB price differentials between 62% Fe iron ore and 65% Fe prices. This is due to the potential for higher freight costs resulting from the lengthier voyage time from Brazil, with Australia at a comparative [...]

By | 2019-02-14T07:36:25+00:00 February 14th, 2019|News|0 Comments

Scorpio Tankers expects 62 scrubber installations by 2020

Shipping company Scorpio Tankers expects 62 of its vessels to be fitted with emissions-cleaning scrubber systems in time for the International Maritime Organization’s lower marine fuel sulfur limit from the start of 2020. The New York-listed firm expects 25 of its MR tankers, seven LR1s and 30 LR2s to have the systems fitted by the [...]

By | 2019-02-14T07:34:22+00:00 February 14th, 2019|News|0 Comments

Maritime Single Window – Simplified reporting moves a major step closer

ECSA and WSC have backed the agreement reached by the European Parliament, the Council and the European Commission in their ‘trilogue discussions’ on the European Maritime Single Window environment proposal last week. ECSA’s Secretary-General, Martin Dorsman, commented: ‘We very much welcome the hard work from the European Commission, European Parliament and Member States over the [...]

By | 2019-02-14T07:31:34+00:00 February 14th, 2019|News|0 Comments

V.Group Acquires Global Marine Travel, Doubling Size Of Travel Operations

V.Group, the leading global marine services provider, announced that it has acquired Global Marine Travel (ISS GMT) from Inchcape Shipping Services. The move combines V.Travel with GMT’s industry-leading marine travel expertise and brings greater scale to the combined operations. Bringing together GMT and V.Travel increases the companies’ ability to offer truly global, 24/7 travel operations [...]

By | 2019-02-14T07:29:36+00:00 February 14th, 2019|News|0 Comments

MOL Techno-Trade Takes Part in Marine Environmental Protection Program Backed by Green Award Foundation Offering Shipowners a Discounted Price on Energy-saving PBCF

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda; Headquarters: Minato-ku, Tokyo) yesterday announced that its group company MOL Techno-Trade, Ltd. (MOL Techno; President: Hirokazu Hatta; Headquarters: Chuo-ku, Tokyo) has joined a Green Award Program aimed at promoting high-quality shipping. The program is run by the nonprofit Green Award Foundation (Head Office: Rotterdam, the [...]

By | 2019-02-14T07:25:38+00:00 February 14th, 2019|News|0 Comments

NAT Lands USD 306 Mln Loan

Bermuda-based tanker shipping company Nordic American Tankers (NAT) has entered into a five-year USD 306 million senior secured credit agreement arranged by CSG Investments. Funded by Beal Bank of Dallas, Texas, the loan will retire the present revolving credit facility in full, the company said. “The new credit will see the effective interest be reduced [...]

By | 2019-02-13T06:21:48+00:00 February 13th, 2019|News|0 Comments

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