Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset’s transient operations. The applicable rules and mercantile usages – reflective of this reality themselves – must therefore be adequately factored into financiers’ lending procedures and loan recovery strategies, whether they be banks or private investors. This article offers helpful …
Successfully implementing a Just In Time (JIT) arrival scheme is dependent not only on an efficient operational framework but also on important contractual considerations. Therefore, BIMCO has formed a small group of experts to help draft a new Just In Time Clause which will focus on these contractual issues. Voyage charter parties oblige the ship …
Optimisation and GHG reduction are key in new BIMCO Just in Time Arrival Clause Read More »
High uncertainties about COVID-19 and the economic recovery continue to weigh on the fuel market and bunker prices. It is clear now that 2020 would not be the year of oil market balance as the world still has a lot of excess crude and oil product stocks to process. The World Bunker Index MABUX turned …
MABUX: Bunker Market Under Pressure As Prices Edge Lower Read More »
In support of global initiatives to reduce the amount of pollutants discharged to the marine environment, a UK start-up has developed a revolutionary sanitary paper that uses no adhesives or other nano-plastics in its manufacture. Taking a more environmentally-friendly approach to the emergent toilet tissue issue, Shrewsbury-based Tanki is able to supply a sustainably sourced …
Tanki Rolls Out A Sustainable Paper To Solve A New Pollution Problem Read More »
BW LPG announces today the successful start of a week-long sea and gas trials for Very Large Gas Carrier (VLGC) BW Gemini which has been retrofitted with pioneering LPG dual-fuel propulsion technology. BW Gemini has achieved a historic milestone as the world’s first VLGC to be fuelled by Liquefied Petroleum Gas (LPG), with the retrofitted …
Emerson has been awarded a $14 million contract to provide automation technologies for the new Azeri Central East offshore platform in the Caspian Sea, the latest development in the Azeri-Chirag-Deepwater Gunashli oilfield. Emerson will serve as the main automation contractor, providing its Project Certainty methodologies and digital technologies that transform capital project execution to help …
Emerson’s technology to digitally transform and support BP’s Caspian Sea project Read More »
GE Renewable Energy’s Haliade-X prototype, the world’s most powerful wind turbine operating to date, has been optimized and is now operating at a 13 MW power output. During the following months, the prototype operating in the Port of Rotterdam will undergo a series of tests to perform different types of measurements and obtain its type …
Maritime innovation project HySHIP has been granted €8 million (about $9.4 million) in EU funding as the Norwegian government announces a strengthened focus on the development and commercialization of hydrogen as a carbon-neutral fuel. The project embraces 14 European partners collaborating on the design and construction of a new roll-on/roll-off (RoRo) demonstration vessel running on …
Australian gas producer and GLNG operator, Santos reported record production in the third quarter of 2020, edging up the sales revenue by 2 per cent. Courtesy of Santos Third-quarter production reached 25.1 mmboe, a record for Santos, 22 per cent higher than the prior quarter. The sales revenue for the third quarter reached $797 million, …
Santos posts record production volumes, YoY revenue plunges Read More »
Japan’s FPSO provider MODEC has contracted GranEnergia for the provision of its UMS Venus, a semi-submersible accommodation unit also known as flotel, to support its offshore maintenance campaigns in Brazil. GranEnergia said on Thursday that the UMS Venus will provide MODEC with a safe and stable platform, to execute its offshore maintenance campaigns scheduled for …
MODEC hires GranEnergia’s flotel for Brazil campaigns Read More »
