During the first week of October, the VLCC MEG China rates experienced a downward revision, amid hopes of a recovery. Looking at the demand, growth rates are still significantly lower than what they were the previous year leading to a negative sentiment in the crude freight market. Moreover, there are concerns about oil demand as …
Current ownership of Euronav, one of the world’s largest tanker shipping companies, calls to mind a marriage of convenience doomed to fail from the day of the nuptials. On one hand, there’s shipping tycoon John Fredriksen and his company Frontline (NYSE: FRO), with a combined 26% stake in Euronav and a focus on building scale …
Tanker shipping’s ‘odd couple’ prepares for a divorce Read More »
The implementation of the Carbon Intensity Indicator is a significant milestone in the shipping industry’s journey towards decarbonisation, but it has inherent problems. The industry is calling on the International Maritime Organization (IMO) to urgently address its imperfections. The CII is a measure used in the maritime industry to assess and track the carbon emissions …
Drewry’s World Container Index decreased by 1.1% to $1,389.5 per 40ft container this week. Our detailed assessment for Thursday, 5 October 2023 The composite index has decreased by 1.1% to $1,389.5 this week, and has dropped by 62.3% when compared with the same week last year. The latest Drewry WCI composite index of $1,389.5 per …
Refining cracks for very-low sulphur fuel oil (VLSFO) in Asia posted weekly gains as of Friday, though cash differentials have softened after a recent rally. The November 0.5% VLSFO crack rose day-on-day to a premium of $9.30 a barrel, climbing by about 6% week-on-week. Cash premiums fell for a second straight day to a premium …
Asia Fuel Oil-VLSFO crack posts weekly gain though spot rally eases Read More »
Following extensive deliberation and in-depth brainstorming, The Nautical Institute Singapore Branch announce the list of speakers for its annual conference. The conference will host close to 200 maritime professionals and key industry leaders who will be immersed in three comprehensive panel discussions. The fifth edition of this annual conference will be happening at M Hotel …
Orion Global Transport France (“OGTF”), announced the successful registration of its first two vessels with the French ship register for commercial vessels (RIF). The 173,000 m3 capacity LNG carrier, Orion Bohemia, built by Hyundai Heavy Industry delivered in 2022 and the similar sized Orion Monet, was built by Samsung Heavy Industries and delivered in 2022. …
Orion Global Transport France Registers Its First Two Vessels Under French Flag Read More »
Classification society DNV presented Hanwha Ocean with an Approval in Principle (AiP) for an innovative 270,000cbm LNG carrier. The design maximizes cargo capacity while optimizing vessel performance. The new 345m long LNG carrier by Hanwha Ocean was heralded as a “ground-breaking achievement” by Vidar Dolonen, Regional Manager, Korea & Japan, DNV, when he presented the …
DNV awards AiP for Hanwha Ocean’s new 270K LNG carrier design Read More »
Mediterranean Shipping Company (“MSC”), a global transportation and logistics provider, announced today that is has entered into a binding agreement to acquire a stake of approximately 50% in Italo – Nuovo Trasporto Viaggiatori S.p.A (“Italo”) from Global Infrastructure Partners (“GIP”), a leading independent infrastructure investor, through its third flagship infrastructure fund (“GIP III”) and to …
Fernando CAMPOS AVILÉSCapitán de Altura de la Marina MercantePresidente del Colegio de Oficiales de la Marina Mercante de Ecuador (COEMME)Guayaquil, ECUADOR Para poder entender los alcances de la aplicación de la ECONOMÍA AZUL, tenemos que aceptar primero que el hombre es sin duda el primer depredador y por lo tanto quien afecta directamente al equilibrio …
La importancia de comprender los alcances de la aplicación de la Economía Azul Read More »
