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The IMO’s 2018 climate agreement explained

How ambitious is this agreement? The IMO deal reached in London represents a significant shift in climate ambition for a sector that accounts for 2-3% of global carbon dioxide emissions. It sets an emission reduction pathway of “at least” 50% on 2008 levels by 2050 with a strong emphasis on increasing the cut towards 100% [...]

By | May 7th, 2018|News|0 Comments

LNG shipping outlook seen brighter after Q1 slump

Liquefied natural gas shipowner Gaslog Ltd predicts a buoyant year after a muted start as energy traders seek vessels early to avoid last winter’s tanker shortage. Gaslog, which has 29 LNG carriers worldwide, is already fielding inquiries for multi-month charters as protection for next winter before heating demand – and prices – soar. The Bermuda-registered [...]

By | May 7th, 2018|News|0 Comments

Shipbroker Sees Upwards Correction on VLCC Rates

It’s been a mixed bag for the tanker markets this week, but more upside could be on the way. In its latest weekly report, shipbroker Affinity Research said that “in Suezmax markets, the TD20’s dramatic collapse was perhaps halted by busy WAF & Americas/East VLCC markets, which could firm & cause inquiry to return to [...]

By | May 7th, 2018|News|0 Comments

Precious Shipping says low sulfur fuel oil most ‘palatable’ option for IMO 2020

With the International Maritime Organization’s global sulfur cap deadline looming, low sulfur fuel oil appears to be the most ‘palatable’ solution, according to Thailand’s Precious Shipping Company Limited (PSL). “Scrubbers, an out dated technology are being thrust on ship owners as a costly solution when the option to burn low sulfur fuel oil is on [...]

By | May 7th, 2018|News|0 Comments

Gaslog Ltd. Reports Record Quarterly Revenues

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, Friday reported its financial results for the quarter ended March 31, 2018. Highlights • Record quarterly Revenues of $138.5 million (Q1 2017: $128.3 million). Profit of $42.5 million (Q1 2017: $23.4 million) and Earnings per share of $0.21(1) [...]

By | May 5th, 2018|News|0 Comments

Future sailors: What will ships look like in 30 years?

Watch out for the return of the sailing ship. After a commitment last month to cut greenhouse gas emissions from shipping by at least 50% by 2050, the race is on to find new technologies that can green the 50,000-strong global shipping fleet. Wind power is one of the options being discussed. International shipping accounts [...]

By | May 5th, 2018|News|0 Comments

Low orderbook bodes well for Product Tanker Long-Term Prospects

Despite short-term lackluster performance, the existing fundamentals seem to indicate a brighter long-term future ahead for the product tanker market. According to the market outlook released this week by shipowner Capital Product Partners, “product tanker spot rates remained on average at similar levels to the previous quarter and overall below historical averages. Global refinery throughputs [...]

By | May 5th, 2018|News|0 Comments

VPS issues high cloud point alert in Rotterdam marine gasoil deliveries

Fuel testing agency Veritas Petroleum Services issued this week a bunker fuel alert for high cloud point in distillate fuel deliveries in Rotterdam, The Netherlands. Cloud point, which identifies the temperature at which crystals will start forming in the fuel, was found to be as high as 21 degrees Celsius from samples taken from multiple [...]

By | May 5th, 2018|News|0 Comments

International Seaways Repositions Itself Amid Tanker Market Turbulence

International Seaways, Inc., one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today reported results for the first quarter 2018. Highlights Net loss for the first quarter was $29.3 million, or $1.01 per share, compared to net income of $18.1 million, or $0.62 [...]

By | May 5th, 2018|News|0 Comments

Dorian LPG Ltd. Enters Into Memorandum Of Understanding With Hyundai Global Service Co., Ltd. To Cooperate On Vessel Upgrades

Following a signing ceremony in Houston, Dorian LPG Ltd. announced it has entered into a memorandum of understanding with Hyundai Global Service Co., Ltd (“HGS”) to undertake research and preliminary engineering studies to upgrade the main engines of up to 10 of the Company’s very large gas carriers (“VLGCs”) to dual fuel technology utilizing liquefied [...]

By | May 5th, 2018|News|0 Comments

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