Japan firms try out China’s ‘Belt and Road’ cargo transport to Europe

Japanese and Chinese logistics firms are paving the way for an alternative route to ship cargo from Japan to Europe faster than by sea by exploiting China’s “Belt and Road” initiative designed to improve regional cooperation and connectivity. Major Japanese logistics firm Nissin Corp. and Sinotrans, China’s largest integrated logistics service provider, joined hands this [...]

By | October 20th, 2018|News|0 Comments

Turkey’s Arkas Bunkering, Sumitomo Corporation signs agreement on LNG bunkering

Arkas Bunkering has signed an agreement with Japanese integrated trading and investment company Sumitomo Corporation for the use of liquefied natural gas as bunker fuel in Turkish and nearby seas. Arkas is securing LNG ahead of the changes in the International Maritime Organization’s global sulfur cap to 0.5% in bunker fuels, from 3.5% currently, which [...]

By | October 20th, 2018|News|0 Comments

Tankers In Demand as Shipowners Are Making Moves Expecting the Market to Rebound

The tanker market appears to be bottoming out according to shipbrokers. As a result, shipowners are seeking more and more wet tonnage in bargain prices, looking to invest while prices are still subdued. In its latest weekly report, Intermodal said that “in the last three months approximately 72 tankers changed hands involving ships larger than [...]

By | October 20th, 2018|News|0 Comments

Greek Shipowners Strongly Support The Forthcoming Discussions At The UN IMO For Effective Implementation And Enforcement Of The 2020 0.5% Global Sulphur Cap

The Union of Greek Shipowners (UGS) remains firmly committed to the successful transition to the 0.5% global sulphur cap in marine fuels and the related dates that have been agreed at the United Nations International Maritime Organization (UN IMO). At the same time, it fully supports the effective implementation and enforcement of the new regulation [...]

By | October 20th, 2018|News|0 Comments

MOL’s Newbuilt LNG Carrier “MARVEL EAGLE” to Serve Mitsui & Co. – Will Transport Shale gas-derived LNG from Cameron Project in U.S.

Mitsui O.S.K. Lines, Ltd. announced the delivery of the LNG carrier Marvel Eagle. Before the delivery, on September 5, a naming ceremony was held at the Kawasaki Heavy Industries, Ltd. Sakaide Shipyard before a large crowd of onlookers and representatives of the companies involved. The vessel is the first of three newbuilding LNG carriers, for [...]

By | October 20th, 2018|News|0 Comments

Oltmann Unveils New Multipurpose Ship Fund

Germany’s Oltmann Gruppe has started a mutual fund with a multipurpose freighter which was launched earlier this year. The move comes ten years after the beginning of the shipping crisis which is now coming to an end, as explained by this asset manager specialized in shipping investments. Specifically, investors can participate with a minimum amount [...]

By | October 19th, 2018|News|0 Comments

Tallink Inks Deal for Passenger Ferry with RMC

AS Tallink Grupp and Finnish shipbuilding company Rauma Marine Constructions Oy (RMC) have signed a letter of intent to build an environmentally friendly car and passenger ferry for the scheduled service between Tallinn and Helsinki. The ship, with a value of approximately EUR 250 million, will be built at Rauma shipyard, and will have a [...]

By | October 19th, 2018|News|0 Comments

Credit Needs To Come Out Of Shipowners’ Blind Spot

Credit has become the taboo topic of the bunker industry since the announcement by the International Maritime Organization that a 0.5% global marine sulfur cap will be introduced from January 1, 2020. After running on easy credit from the banks, as purchases are typically paid for several weeks after delivery, credit lines will need to [...]

By | October 19th, 2018|News|0 Comments

Black Sea-Med Handysize freight dips on increased tonnage availability

Freight rates for Black Sea-Mediterranean dirty Handysize vessels — the most widely used class to carry fuel oil and feedstocks in the European basin — have started to fall after hitting multi-month highs, due to greater tonnage availability in the Black Sea, sources said. The rate was assessed Wednesday at $10.87/mt, down 57 cents from [...]

By | October 19th, 2018|News|0 Comments

Shipping Forum discusses maritime sector’s role in Qatari economy

Nakilat recently participated in the Qatar Shipping Forum 2018 held at Marriott Doha hotel, which gathered local shipping and maritime professionals. This is the first such forum to be organised in Qatar by DNV GL, one of the world’s leading providers of marine classification services, marine risk management and licensing. The event provided a great [...]

By | October 19th, 2018|News|0 Comments