The number of idling ships in the container shipping sector has been reduced to almost zero. However, a question arises on what will be the next step on the supply side for container shipping, according to BIMCO. As the remaining issue in the sector are poor earnings with charter markets at record l
The outlook for 2015 looks a bit dull on the demand side for dry bulk shipping, whereas the supply side seems to provide the same amount of new capacity as in 2014, BIMCO forecasts. As explained, such a development will not improve the fundamental market balance and Supramaxes in particular seem to
Two new unified requirements have been developed by the International Association of Classification Societies (IACS) as a result of a post review on MOL Comfort sinking. The casualty of MOL Comfort which occurred on 17 June 2013 saw the vessel’s hull split in two. The two new requirements are: UR S1
VTT Technical Research Centre of Finland and Rolls-Royce today unveiled their latest vision of Ship Intelligence – a futuristic ship’s bridge concept which could become reality by 2025. Rolls-Royce predicts that Ship Intelligence will be the next major transition for the shipping industry as ships a
The global market value for offshore wind turbine and foundation installation vessels will increase more than fivefold, says research and consulting firm GlobalData. Namely, the market value is set to increase from an estimated USD 0.56 billion in 2014 to approximately USD 2.93 billion by 2020, repr
Norwegian shipping company Torvald Klaveness is in talks with aluminium producer Alcoa on a new long term contract for the transportation of caustic soda, the company announced. Under the deal, being negotiated through Klaveness’ subsidiary Cabu Chartering AS, the cargo would be transported from the
Calmer waters are ahead for the shipping industry in Europe, the Middle East and Africa (EMEA), according to Fitch Ratings forecasts for 2015. The stable outlook for 2015 is based on expected rebound of sector fundamentals, however oversupply and volatility in rates are likely to persist. Fitch Rati
Abandoned Vessel Found in Zakyntos Island The Hellenic Coast Guard has found an abandoned vessel loaded with cigarettes in Zakyntos island while conducting a regular patrol on Tuesday, December 2nd.…Read more Pieter Schelte Loses South Stream Gig The world’s largest crane vessel Pieter Schelte will
This November the International Maritime Organization (IMO) adopted the International Code for Ships Operating in Polar Waters (Polar Code). The Polar Code covers the full range of design, construction, equipment, operational, training, search and rescue and environmental protection matters relevant
International classification society DNV GL has developed the GAS READY class notation that gives owners, who at the new building stage want to prepare their vessel for a potential conversion to LNG operation after delivery, a useful framework for contracting. It provides a picture of the level of L
The newbuilding market saw four orders for 208k Newcastlemax at New Yangzijiang placed last week by German shipping company H.Vogemann, Clarkson reported in its Hellas Weekly S&P Bulletin. The first two vessels are slated for delivery in the end of 2016, with the remaining two scheduled for the firs
The shipping industry is fully committed to total compliance with the 0.1% sulphur in fuel requirements in Emission Control Areas (ECA) from January 2015, and there is no reason to suggest that there will not be full compliance, says the International Chamber of Shipping (ICS). But there is “concern
United Arab Shipping Company (UASC) has named the industry’s first ever LNG-ready ultra large container vessel in Ulsan, South Korea. MV Sajir is the first of seventeen vessels in UASC’s current newbuilding program. With a capacity of 15,000 TEU (A15), the DNV GL classed vessel is the largest and mo
IMO’s Maritime Safety Committee approved, in principle, the draft International Code of Safety for Ships using Gases or other Low-flashpoint Fuels (IGF Code), and also approved proposed amendments to make the Code mandatory under Safety of Life at Sea (SOLAS), with plans to adopt both at the next MS
