MOL Plans to Install Voyage Information Display System Using AR Technology on VLCC subsequently to Car Carrier

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced plans to launch the experimental use of a system that supports ship operation during voyages using augmented reality (AR) technology, jointly developed by Furuno Electric Co., Ltd. (President: Yukio Furuno; Headquarters: Nishinomiya-shi, Hyogo Prefecture) and MOL Techno-Trade, Ltd. (President: Hirokazu Hatta; Headquarters: Chuo-ku, [...]

By | October 12th, 2018|News|0 Comments

Gasum Becomes a Sole Owner of Skangas

Finland-based energy company Gasum has become a sole shareholder of Norwegian LNG provider Skangas. The company has increased its shareholding in Skangas from 70% to 100% by purchasing shares from the Lyse Group. As explained, the acquisition strengthens a key element of Gasum’s strategy and will further enhance the development of the Nordic gas market [...]

By | October 11th, 2018|News|0 Comments

Baleària Gets EU Grant for Ferry Upgrade

Spanish ferry operator Baleària Eurolineas Maritimas has received a grant of EUR 11.8 million (USD 13.6 million) from the European Commission to retrofit five of its ferries to run on LNG. The funding represents 20% of the total sum of EUR 59 million needed for the project implementation, according to data provided by the European [...]

By | October 11th, 2018|News|0 Comments

Traders say U.S. to be big winner of new IMO shipping rules

The United States is set to be the big winner from new marine fuel rules, trading house Gunvor Group predicted on Wednesday, while rival merchants said the world would not face a shortage of distillates as a result of new rules to cut pollution. The UN’s International Maritime Organisation (IMO) has set new rules that [...]

By | October 11th, 2018|News|0 Comments

ICS publishes New Edition of Industry Guidance on Garbage Management Plans

The International Chamber of Shipping (ICS) has recently published a new edition of its ‘Guidance for the Preparation and Implementation of Garbage Management Plans as Required by MARPOL Annex V’. This second edition is intended to help shipping companies comply with the latest requirements of the IMO regulation regarding treatment and disposal of garbage from [...]

By | October 11th, 2018|News|0 Comments

South Korea Sends Another $5 Billion to Hyundai Merchant Marine

South Korea’s Hyundai Merchant Marine 011200 -2.92% is getting about $5 billion in additional state funding to finance a series of new orders for megaships as the company tries to compete with bigger Asian and European rivals in a difficult container shipping market. HMM, the country’s de facto flag carrier after the collapse of Hanjin [...]

By | October 11th, 2018|News|0 Comments

Strong Rotterdam high sulfur fuel oil demand highlights disconnect from bunker fuel market

Limited availability of high sulfur fuel oil in Northwest Europe has kept the barge market in the region backwardated, while weak buying interest for bunkers has shown up a disconnect between the two markets. Availability of fuel oil in Northwest European has been scarce on a plethora of factors including an active arbitrage to Asia, [...]

By | October 11th, 2018|News|0 Comments

Scorpio Bulkers Inc. Announces an Investment of $100.0 Million in a Scorpio Tankers Inc. Capital Raise

Scorpio Bulkers Inc. announced that the Company has agreed to invest $100.0 million in a related party, Scorpio Tankers Inc. The investment is part of a larger $300.0 million equity raise through a public offering of common shares by Scorpio Tankers announced today. As a result of this investment, the Company will own approximately 54.1 [...]

By | October 11th, 2018|News|0 Comments

Dry Bulk Market: More Newbuildings Pose Threat to Rebalancing, But Demand Growth is There Says Shipbroker

With the dry bulk market sentiment rising, ship owners have placed more and more newbuilding orders, threatening to throw the current favorable market fundamentsl off course. However, a combination of enough demolition candidates and robust demand growth, despite the ongoing trade tensions, are keeping the current momentum in shipping’s favor. Still, things could be even [...]

By | October 11th, 2018|News|0 Comments

Venezuela Seizes 150 Kg of Cocaine from Tanker

Close to 150 kilograms of cocaine have been seized from the 47,018 dwt chemical tanker José Progress, according to the Venezuelan National Guard. The illicit cargo was found in an underwater inspection of the Panama-flagged vessel, conducted on October 8. Venezuelan National Guard informed that the ship’s 20 crewmembers are under investigation. Loaded with some [...]

By | October 10th, 2018|News|0 Comments