The global marine propulsion engines market is expected to reach USD 10.95 billion by 2020 from USD 8.23 billion in 2013, according to a new study by the US based market research and consulting company Grand View Research. Significant modernization in marine propulsion as a direct consequence of inc
The slowdown in fleet supply growth for dry bulk ships should result in better diversification in ship sizes (or tonnage balance) over the next few years, according to the latest analysis by IHS Maritime & Trade, a division of IHS Inc. This trend will play out as innovative vessel conversions, bette
The historical development of the efficiency of new ships shows that the fuel efficiency of newbuilds has actually deteriorated since 1990 by 10% on average, a study commissioned by Seas At Risk and Transport & Environment (T&E) reveals. The study finds that bulk carriers, tankers, and container shi
The legislation meant to regulate ship recycling practices, in particular the European Union Ship Recycling Regulation and the International Maritime Organisation’s Hong Kong Convention, mainly based on flag state jurisdiction will neither be able to solve the problems of substandard shipbreaking no
Originally formed back in 1976 as the International Marine Transit Association in order to provide the ferry industry with a platform for networking and information exchange, Interferry soon evolved into the only world-wide industry association, currently representing 225 members from 38 countries.
Newbuilding contracting of tankers has slowed in the first quarter of the year to the lowest levels recorded since 2012, according to McQuilling Services quarterly review of tanker orderbook. The marine transportation consultancy said that through March 52 orders have been placed, the bulk of which
Sixteen sailors have been left to their own devices for months after their vessel MT Surya Kuber got seized in Bahrain due to unpaid debts. The crude oil tanker was banned by a court order in February from leaving the country as its Singapore-based owner 7Seas Ship Management failed to pay Arab Ship
Maersk Line Orders Seven Containerships Maersk Line signed a new building order today with COSCO Shipyard Co., Ltd in Zhoushan China for seven 3,600 TEU container vessels…. Read more Fincantieri: Designing the Drillship of the Future Italian shipbuilder Fincantieri is introducing a new ultra-deep dr
The infographic presents you with containership growth starting from 1968 forecasting the next generation of super-sized container shipping giants yet to come in 2018. As is shown in the image, from 1530 TEU to 19.000+ TEU, container-carrying capacity has increased by approximately 1.200% from 1968.
Update: MSC Cruises’ Death Toll Rises to Twelve Twelve guests of MSC Cruises have been confirmed dead following the terrorist attack during a shore excursion at the port of La Goulette, Tunisia on Wednesday…. Read more Interview: Alfa Laval Scrubber Sales Forge Ahead Swedish engineering group Alfa L
UAE-based shiprepair facility Drydocks World has simultaneously berthed 11 rigs in the Dubai yard setting a new record. During February the yard set a record of 9 rigs in the yard and only one month later the yard has increased the number by over 20% totaling 11 rigs. The company said that it has se
Demand for crude oil and oil product tankers is currently strong and both segments are enjoying an extended winter season with high earnings, according to BIMCO. Spot market earnings in January for VLCC and Suezmax reached USD 70,000 and USD 65,000 per day at the peak respectively. For the product t
After plunging to unprecedented low levels at the beginning of the year, the Baltic Dry Index is en route for recovery based on the latest figures. Namely, the BDI stood at 565 points last week.The rebound has been driven by strong vessel demand from the sector, Reuters reports, pushing daily rates
USD 81 billion will be spent on Floating Production and Storage units (FPS) between 2015 and 2019, 73% more compared to 2010-2014, despite the current low oil price environment, the market analysts from Douglas-Westwood project in their ”World Floating Production Market Forecast 2015-2019.” The valu
