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Classification in the digital age

DNV GL’s Data Smart Classification, or “D-Class” development project aims to utilize and coordinate advanced technology to make DP system verification schedules much more flexible and efficient and, at the same time, less disruptive and burdensome for operators while ensuring the highest levels of equipment and system integrity and safety. A new toolbox for remote [...]

By | 2019-02-18T06:13:38+00:00 February 18th, 2019|News|0 Comments

Dry Bulk Market: Capesize Market On the Downfall For Yet Another Week

Capesize Despite the focus on Vale and reduced Brazil exports, there were signs of further demand this week that checked further falls. On the downside, higher bunker prices negated any real increase in owners’ returns. Other charterers took up some of the slack from Vale, providing several February cargoes from Brazil to China, with rates [...]

By | 2019-02-18T06:10:20+00:00 February 18th, 2019|News|0 Comments

Nakilat’s earnings increased by 5.3% to QAR 892 million profit for the year 2018

Nakilat reported financial results for the year ended 31 December 2018, with a net profit of QR 892 million in 2018 (or QAR1.61 per share), an increase of 5.3%. Excluding the 2017 one-off item (available for sale investments), the 2018 net profit increased by 14%. The Board of Directors of Nakilat is pleased to recommend [...]

By | 2019-02-18T06:05:53+00:00 February 18th, 2019|News|0 Comments

Excelerate and Equinor Perform First Ship-to-Ship Transfer of LNG in The Bahamas

On February 7, 2019, Excelerate Energy L.P. (Excelerate) and Equinor Energy AS (Equinor) completed the first ever ship-to-ship (STS) transfer of liquefied natural gas (LNG) in The Bahamas. Utilizing Excelerate’s floating storage regasification unit (FSRU) Exemplar and Equinor’s LNG carrier Arctic Voyager, a full LNG cargo was transferred using the double-banked LNG transfer system while [...]

By | 2019-02-18T06:01:12+00:00 February 18th, 2019|News|0 Comments

Epic Gas Cuts Full-Year Net Loss by 91 Percent

Singapore-based gas carrier owner and operator Epic Gas managed to improve its net financial position by 91 percent in 2018. The company cut its net loss to USD 2.7 million in 2018 from a loss of USD 30.9 million posted in 2017. During the fourth quarter of 2018, the company delivered a net profit of [...]

By | 2019-02-15T06:36:20+00:00 February 15th, 2019|News|0 Comments

Cleaner Marine Fuel Demand to Push LNG Bunkering to over USD 12 Bn by 2024

Expanding emission regulations and a growing demand for cleaner marine fuel are expected to bring the LNG bunkering market size to over USD 12 billion by 2024, Global Market Insights said in a report. US LNG bunkering is predicted to exceed 3,000 kilotons by 2024 owing to the advent of shale gas, the report noted, [...]

By | 2019-02-15T06:33:44+00:00 February 15th, 2019|News|0 Comments

ICTSI Cuts Ribbon on Expanded Batumi Container Terminal

Philippines-based International Container Terminal Services Inc. (ICTSI) has inaugurated the newly-expanded Batumi International Container Terminal (BICT) in Georgia. Both the waterside and landside areas of the multipurpose terminal were expanded with the aim of optimizing the processing of existing cargo flows and installing additional capacity. Following the expansion, the port’s annual container handling capacity was [...]

By | 2019-02-15T06:31:08+00:00 February 15th, 2019|News|0 Comments

Fincantieri Marks Triple Milestone for Princess Cruises

Italian shipbuilder Fincantieri celebrated three construction milestones for cruise line Princess Cruises, a brand of Carnival Corporation & plc, on February 14. The milestones were held for three Royal class ships, currently in different construction phases. Fincantieri started the day with a steel cutting for Princess Cruises’ sixth and last Royal-class ship, still unnamed, from [...]

By | 2019-02-15T06:29:00+00:00 February 15th, 2019|News|0 Comments

Fuel Consumption and CO2 Emissions Reporting Application released by Bureau Veritas

Bureau Veritas, a world leader in laboratory testing, inspection, and certification services, announces the release of ‘Phase 2’ of My Fuel Consumption (MFC), the online tool to facilitate compliance with fuel consumption regulations – both IMO’s data collection system (DCS) and the EU’s monitoring, reporting and verification (MRV) requirements. To mitigate the risks of an [...]

By | 2019-02-15T06:24:50+00:00 February 15th, 2019|News|0 Comments

Ship Owners Turn to Second Hand Acquisitions

Ship owners have opted against committing more financial resources towards newbuilding orders, amid the uncertainty surrounding world trade growth prospects and the pressures exerted on the Chinese economy. This has been the overall trend since the start of 2019, except a couple of niche segments, like LNG, where prospects remain dry. In its latest weekly [...]

By | 2019-02-15T06:20:57+00:00 February 15th, 2019|News|0 Comments

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