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Stena Bulk positions itself in crude oil

Over the last six months, Stena Bulk has expanded its fleet in the Sonangol Suezmax pool with the addition of six Suezmax tankers. The TC in fleet consists of modern tonnage of varying length and with different options. – SKS Skeena – Istanbul – Almi Galaxy, Almi Voyager and Almi Sky “In what has generally [...]

By | 2018-07-19T04:52:12+00:00 July 19th, 2018|News|0 Comments

Vitol invests in coal-to-oil venture as UN shipping fuel rules loom

Energy trader Vitol and coal miner Peabody Energy are partnering with start-up Arq to turn coal waste into a low-sulphur oil product that could be an alternative fuel for shippers as new U.N. pollution rules loom, the companies said in a statement. Global oil and shipping companies are looking at any and all options to [...]

By | 2018-07-19T04:49:38+00:00 July 19th, 2018|News|0 Comments

Shipping company fails in claim for €95,000 against arrested vessel

An Estonian shipping company has failed in its High Court claim for breach of contract in relation to a ship which was arrested when it came into Irish jurisdiction over alleged non-payment of €95,000 for services allegedly provided for the vessel. Atlas Baltic sued the owners and all persons claiming an interest in the MV [...]

By | 2018-07-19T04:48:06+00:00 July 19th, 2018|News|0 Comments

Considerations on the safety of 2020 fuel blends addressed at IMO meeting

Confusion about whether the existing ISO 8217 marine fuel quality standard will cover fuel blends produced to meet the 0.50% sulphur limit has, hopefully, been cleared up at last week’s meeting at the International Maritime Organization. Concerns about the safety of fuel blends complying with the upcoming 0.50% sulphur limit were on the agenda for [...]

By | 2018-07-19T04:46:12+00:00 July 19th, 2018|News|0 Comments

Demolition Activity Still Far From Perfect to Have an Positive Impact on Freight Rates

Demolition activity in Southeast Asia has tumbled over the course of the past few weeks. As a result, tonnage overcapacity still remains to be addressed. In it latest weekly report, shipbroker Clarkson Platou Hellas said that “we witnessed yet another quiet and subdued market last week as the monsoon rains start to take their toll [...]

By | 2018-07-19T04:44:20+00:00 July 19th, 2018|News|0 Comments

Cyber, Climate Risks and Human Error Threaten Shipping’s Safety Progress, According to New Allianz Report

Large shipping losses have declined 38% over the past decade, according to Allianz Global Corporate & Specialty’s (AGCS) Safety & Shipping Review 2018, with this downward trend continuing in 2017. Recent events such as the collision of the oil tanker “Sanchi” and the impact of the NotPetya malware on harbor logistics underscore both the traditional [...]

By | 2018-07-19T04:36:24+00:00 July 19th, 2018|News|0 Comments

Newbuilding Activity Quietens Down

The newbuilding market has been gearing up for the summer lull, as vacations near and ship owners are reluctant to commit more capital, amid a trade war of global proportions. In its latest weekly report, shipbroker Allied Shipbroking noted that it was “another quiet week in the newbuilding market was due, with market participants remaining [...]

By | 2018-07-18T04:22:26+00:00 July 18th, 2018|News|0 Comments

Overseas Shipholding Group, Inc. Announces New Build Initiative

Overseas Shipholding Group, Inc. a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, announced that it has signed binding contracts with Hyundai Mipo Dockyard Company Ltd. (“HMD”) for the construction of two 50,000 deadweight tons class product chemical tankers for anticipated delivery to the Company during the [...]

By | 2018-07-18T04:16:08+00:00 July 18th, 2018|News|0 Comments

Alfa Laval Sees Order Intake Boom as Marine Division Logs 37% Rise

”Order intake during the second quarter was significantly stronger than earlier expected, with contributions from all three divisions. The Marine Division’s order intake increased by 37 percent sequentially, mainly driven by an increased contracting within the tanker segment – which lifted the demand for pumping systems – and a significantly increased order intake pace for [...]

By | 2018-07-18T04:13:19+00:00 July 18th, 2018|News|0 Comments

Shipping traffic delayed in Suez Canal on ship grounding, collisions: sources

Shipping traffic in the Suez Canal, one of the world’s busiest trade channels, has come to a prolonged halt over the last two days, causing congestion and critical delays in transit for dozens of ships after the grounding of a Hong Kong-flagged container ship, shipping industry executives said Tuesday. The southbound MV Aeneas was grounded [...]

By | 2018-07-18T04:09:33+00:00 July 18th, 2018|News|0 Comments

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