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Marine fuel sulfur cap to raise costs; ban non-compliant ships: Maersk

The upcoming implementation of restrictions on sulfur emissions in marine fuels can potentially jack up the annual fuel costs for the shipping industry by a whopping $50-$60 billion, including by $10 billion for the containers sector alone, A.P. Moller-Maersk CEO Soren Skou Thursday said. Skou favored greater use of cleaner fuels in the near term [...]

By | April 27th, 2018|News|0 Comments

Shipping Lender HSH Nordbank posts 2017 loss on bad loan portfolio sale

HSH Nordbank [HSH.UL], which is in the midst of a sale to buyout groups Cerberus and J.C. Flowers, posted a 2017 pretax loss of 453 million euros (395.29 million pounds) on writedowns of bad ship loans. The state-backed lender said on Thursday that it took a 1.1 billion charge when selling its remaining 6.3 billion [...]

By | April 27th, 2018|News|0 Comments

Tankers: Enough Scrap Candidates in the Market as Average Tanker Demolition Age is 22 Years Old Says Shipbroker

Oversupply of tonnage could soon be eradicated in the wet markets, if the current pace of demolition activity is maintained. In its latest weekly report, shipbroker Intermodal noted that “on the crude sector, a very anemic supply growth in 2014 helped the market enjoy a very good year in 2015 as the demand for crude [...]

By | April 27th, 2018|News|0 Comments

Alfa Laval’s groundbreaking HCO filter technology has been approved by MAN Diesel & Turbo

The Alfa Laval Moatti 290 filter for hydraulic control oil (HCO) has now been approved by MAN Diesel & Turbo on its modern two-stroke engines. The decision follows validation tests aboard three Stena Bulk IMOIIMAX vessels, where the HCO filter’s performance has exceeded all expectations. The Alfa Laval Moatti 290 filter is a high-performance solution [...]

By | April 26th, 2018|News|0 Comments

My Fuel Consumption: a new application to help shipowners comply with new regulations for energy efficiency management

• Bureau Veritas’ My Fuel Consumption, now issued in ‘Phase 1’, is an application to guide owners through the regulatory requirements of IMO’s data collection system (DCS) and EU MRV • My Fuel Consumption makes compliance more straightforward, with a digitized process - from submitting IMO-DCS plans to receiving confirmations and statements of compliance • [...]

By | April 26th, 2018|News|0 Comments

New Bunker Terms will boost harmonisation

BIMCO’s Documentary Committee is expected to adopt a new version of the standard contract Bunker Terms in New York on May 2. The Bunker Terms 2018 have been drafted by representatives from across the bunker industry. It is a balanced set of terms and conditions designed to be fair for both buyers and sellers. The [...]

By | April 26th, 2018|News|0 Comments

China’s seaborne trade: a spectacular upwards trend

Brisk growth in China’s enormous seaborne trade has resumed over the past couple of years, following an earlier sharp slowing of the upwards trend. Potential for further expansion ahead is still visible, but it is not easy to foresee precisely how some aspects will evolve. Adding to the mix a trade dispute with adverse implications [...]

By | April 26th, 2018|News|0 Comments

Nordea Bank AB: Shipping Loan Losses Further Trimmed

CEO Casper von Koskull’s comments on the results: “2016 and 2017 were characterised by significant investments to improve our compliance and risk operations as well as a de-risking of the bank. These activities have had a meaningful impact on both revenues and costs. Furthermore, this has led to a situation where we have been more [...]

By | April 26th, 2018|News|0 Comments

Baltic Exchange launches Escrow Service for vessel sales

The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exchange members to take advantage of the Exchange’s trusted position in the marketplace when undertaking the sale or purchase of a vessel. Announcing the initiative today (25 April) at its Freight [...]

By | April 26th, 2018|News|0 Comments

Pick Up Seen in Ships’ Demolition Market, on Pakistan News

News broke this past week that Pakistan has reportedly reopened the market for tanker imports, bound for recycling. In its latest weekly report, Clarkson Platou Hellas commented that “it has finally happened… following reports received, it is our understanding that there has been a breakthrough in Pakistan with news that the provincial government has finally [...]

By | April 26th, 2018|News|0 Comments

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