Shipbuilding
Readers’ Picks of the Week (Oct 6 -12)
Freight rates are likely to fall further as carriers stand firm in their reluctance to reduce capacity on the Asia-Europe and transpacific trades in the winter slack season, Alphaliner warned.…Read more Tanker Scrapes Bottom off Durban Eastern Pacific Shipping reported that an incident involving the
European Shipowners Call for More Clarity on Scrubbers
European shipowners have urged EU Member States to adopt a clear, long-term and above all harmonised position on the issue of the discharges of washwater produced by open-loop scrubbers installed on ships. “Scrubbers are devices that use water to wash unwanted substances from an exhaust gas stream”
ICS Lobbying for Ballast Convention Solution ahead of IMO Meeting
The International Chamber of Shipping (ICS) and its member national shipowners’ associations are engaged in the final flurry of lobbying for removing implementation hurdles of the International Maritime Organization (IMO) Ballast Water Management Convention. The Convention is expected to enter into
Maersk CEO: We Need to Order Less Ships
Making money by investing into ships on speculation is limited, despite the fact that prices of ships are pretty low, Nils Smedegaard Andersen, Chief Executive Officer, A.P. Møller-Mærsk said yesterday in a keynote speech at Danish Maritime Days taking place in Copenhagen. As explained by Andersen,
Offshore Vessel Designs Spotlighted at Offshore Energy 2014
Various speakers from the offshore industry will provide an update on the latest in offshore ship concepts, design and construction during the Offshore Energy 2014 exhibition and conference in Amsterdam later this month. These will include updates on: What’s on the drawing board, what’s being built
China Pledges to Boost Shipping and Shipbuilding
Speaking at the inaugural Danish Maritime Forum in Copenhagen this morning, China’s Vice-Minister of industry and information technology Su Bo pledged to work on enhancing global cooperation in an effort to expand China’s shipping and shipbuilding capacities. Vice-Minister Su remarked that Chinese s
WesPac, CME Form LNG Conversion One Stop Shop
The U.S.-based WesPac Midstream LLC (WesPac) has struck a partnership with Clean Marine Energy LLC (CME) to ensure the supply and delivery of LNG to ship owners utilizing CME’s Emissions Compliance Service Agreement (ECSA) to convert to cleaner fueling. According to WesPac, the partnership is able t
Shipping Industry Will Need USD 1.4 Trillion over Next Decade
Financing of the shipping industry is again on the agenda as new investments are needed to keep up with the upcoming fleet renovation drive and market growth. According to Clarksons data, the cost of financing the shipping industry over the decade from 2014 to 2023 could be around USD 1.4 trillion,
Suezmax Tanker Market on the Rebound
This year has seen a major comeback of the Suezmax tanker market prompted by the recent surge in newbuilding orders, after three years of very few orders, according to London-based shipbroker Gibson. The “mini” surge in the newbuilding market, caused by more regular spikes in the spot market, has se
Secondhand Dry Bulk Market Flooded by Vessels for Sale
The secondhand dry bulk market has been struck by the latest stagnation in the market and depressed charter rates. “The market has been flooded by vessels for sale while even more candidates –especially from the Japanese market- are expected to come in the near future pushed by the weak Yen against
Global Marine Premiums Fall
Global marine premiums dropped by 1.7% last year, falling from USD 34.8bn in 2012 to USD 34.2bn, as shown by the latest statistics released by the International Union of Marine Insurance (IUMI) at its 2014 annual conference held in Hong Kong. The conference gathered over 500 attendees who heard from
GTT’s LNG Membrane Tanks Soon with Made in USA Label
France-based Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), has signed through its U.S. subsidiary GTT North America an agreement with Conrad Shipyard, Morgan City (LA, the U.S.A.) for the future pr
Becker’s LNG Hybrid Barge Expected in Hamburg This Weekend
Becker Marine Systems is expecting the first LNG Hybrid Barge to arrive at the Port of Hamburg this weekend. “If all goes well and the weather remains stable, the LNG Hybrid Barge should be arriving at its future home port of Hamburg on 4th or 5th October,” said Dirk Lehmann, Managing Director of Be
Russian, Crimean Ports Given International Status
Russian Prime Minister Dmitry Medvedev has signed a Decree which confirms the international status of all Russian ports, including those residing in the territory of the Republic of Crimea. Medvedev said that now border and customs procedures for arriving foreign vessels will be much more facilitate