A Sea Change in Steel Production: How Ship Recycling is Mitigating carbon footprints

As the world’s population continues to grow and our demand for resources increases, it’s more important than ever to find sustainable ways to produce the products we rely on. The steel produced from ship recycling is referred to as “Green Steel” or can be regarded as a viable “raw material” for steel makers with net-zero …

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VLSFO spec issues in Q1 as Europe weans off Russian feedstocks

Europe’s marine fuel supplies faced quality issues in the first quarter as the industry scrambled to replace Russian blendstocks with alternative fuel oil sources, according to data from Bureau Veritas Verifuel. Quality tests of 0.5% sulfur fuel oil, the prevailing marine fuel, showed up to 10% failed to meet specified parameters at key European bunker …

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HMM, Samsung Heavy Industries, Panasia, and Korea Register of Shipping to collaborate on reducing carbon emissions

On April 28, HMM, Samsung Heavy Industries, Panasia, and the Korean Register of Shipping signed a business agreement for integrated empirical research on ship carbon dioxide capture and liquefaction storage technology (OCCS). The four companies will form a joint working group to conduct research on OCCS technology. HMM plans to install OCCS developed with domestic …

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Talks on Black Sea grain export deal set for Wednesday – Ukrainian source

Talks on a U.N-brokered deal that allows the safe Black Sea export of Ukrainian grain are scheduled for Wednesday, with all sides in the negotiations involved, a senior Ukrainian source said on Tuesday. “Talks are scheduled for tomorrow. All parties… hopefully there will be results,” the source, who declined to be named, told Reuters. The …

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WFW advises DSF on a US$100m term loan facility for Diana Shipping

Watson Farley & Williams (“WFW”) has advised Danish Ship Finance A/S (“DSF”) on a US$100m term loan facility granted to ship-owning companies of the Diana Shipping Inc. Group (“Diana Shipping”) for the refinancing of nine vessels with a maturity date in April 2028. The proceeds from the new loan facility will refinance other loans with …

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Valaris wraps up rig sale and gets more work for its fleet as offshore drilling market tightens

Offshore drilling contractor Valaris has secured new contracts and extensions for its rig fleet in the UK, Brazil, and New Zealand. In addition, the rig owner brought a sale of one of its rigs to a close. While the offshore drilling market keeps tightening, the company records a strong performance during the first quarter of …

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Transocean sees recent rig deals as proof of ‘sustained upcycle’ in offshore drilling market

With “an outstanding quarter” now behind it, Transocean, an offshore drilling contractor, is looking forward to further growth in the offshore drilling market, as the deals awarded to its rig fleet in the first quarter of 2023 have fuelled the firm’s hopes of increased rig demand, higher day rates and fleet utilisation over the coming …

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Probe into incident on North Sea platform underway after worker suffers ‘facial injuries’

Norwegian offshore safety regulator has launched an investigation into an incident, which resulted in an injury, on an Equinor-operated platform in the North Sea, located on one of the oldest producing fields on the Norwegian continental shelf (NCS). Statfjord B platform; Credit: Harald Pettersen/Equinor The Petroleum Safety Authority Norway (PSA) reported last week that it had …

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