Shipbroker Simpson Spence Young (SSY) claims forward freight agreements (FFAs) will play an integral role in the volatile LNG market. SSY: FFAs will play a key role in LNG market LNG freight futures contracts based on Spark Commodities’ price assessments were launched by Intercontinental Exchange (ICE), a company that operates global exchanges. These will supplement …
Japanese shipping heavyweight Mitsui O.S.K. Lines (MOL) has decided to invest into Larvik Shipping, a Norwegian ship management company for liquified CO2 carriers. The investment marks MOL’s entrance into a completely new market of ocean transportation of liquefied CO2. The business sector plays a central role in carbon dioxide capture utilization and storage (CCUS) value …
MOL makes foray into ocean transport of liquefied CO2 Read More »
The UK-based Geowynd has signed a framework agreement with Sea and Land Project Engineering (SLPE) for the provision of advanced soil modelling. In recent months, the UK geotechnical consulting firm supported SLPE on 7 wind farm project developments in Europe and America. Geowynd did not disclose the name of this most recent project, but did say …
French container shipping major CMA CGM reduced the overall emissions of its fleet by 4% in 2020 compared to 2019, the company said in its annual report for 2020. Since 2008, the group has reduced its CO2 emissions by 49% (TEU-km), in line with its objective of reaching -50% emissions by 2030. CMA CGM Champ Elysses; Image …
Norway-based energy storage company Corvus Energy has chosen compatriot Kitron as the manufacturing partner for the company’s battery management control systems. As informed, the value of the contract is NOK 100 million (about USD 11.6 million). Production will take place at Kitron’s facility in Arendal, Norway, in 2021 and 2022, with an option for extension. …
Corvus selects Kitron for battery systems production Read More »
3rd Eng on reeferSalary – 6360 USD startContract – 4 monthsExp – 1 year in rank, 2-3 contracts on the same vessels Interesados: ed@bsc-spb.com
Norwegian offshore safety authority has found serious breaches of regulations on a Valaris rig following an investigation of an incident from September 2020, which occurred while the rig was working for Equinor. Norway’s Petroleum Safety Authority (PSA) said on Thursday it has completed its investigation of an incident where a ram door was blown off …
Valaris gets safety order over incident with BOP ram door Read More »
Recent shifts and structural changes in the shipping industry such as short-term contracts being favored over long-term contracts, increasing market volatility and thinning margins mean that shipowners and charterers have more to monitor and evaluate in their decision making. “Market participants today makes decisions more frequently than before and each decision have a larger impact …
Klaveness: The last thing we want to do is create solutions that have no market fit Read More »
The proposal to create a $5-billion International Maritime Research and Development Board (IMRB) has been submitted to the UN’s International Maritime Organisation (IMO) by Georgia, Greece, Japan, Liberia, Malta, Nigeria, Palau, Singapore, and Switzerland. Denmark now joins as a co-sponsor, and it’s expected several other nations to voice their support for the proposal at the …
Support grows for $5bn research fund to decarbonise shipping Read More »
Pole Star is pleased to announce that our award-winning sanctions screening & vessel monitoring solution, PurpleTRAC, now includes draught change notifications for enhanced vessel activity awareness. This new feature is part of a series of new functionalities within PurpleTRAC, providing users with the most comprehensive risk analysis of their associated vessels in a single point …
