17/04/2013
Over the past week, here at DNV, we have done another market analysis to assess how fast LNG will win into the marine fuel market. I am not at liberty to share the results, but it got me thinking about a broader theme.
But first, here’s what we did: We have developed a model that combines various sources for number of port
17/04/2013
Adoption of, and interest in, LNG-as-fuel for ships is gathering pace but challenge is as much in safe bunkering and port operations as in ship design: LNG bunkering guidance is one of the key subjects addressed in LR’s latest Gas Technology Report.
16/04/2013
Medium-range tankers and Aframaxes are the most sought after vessel types in the tanker market today, as a result of the positive prospects they both offer to ship owners, as they are the least likely segments to suffer from tonnage oversupply issues. In an interview with Hellenic Shipping News Worldwide
16/04/2013
The International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) latest quarterly report on Piracy and Armed Robbery Against Ships recorded a total of 66 incidents worldwide in the first three months of 2013. This is down markedly from the 102 incidents reported for the corresponding period in 2012.
16/04/2013
Efforts to increase eastbound freight rates by ocean carriers operating between Asia and West Coast North America remain ineffectual with new services planned rather than laying up unwanted vessel capacity.
Eastbound:
15/04/2013
The African Continent and most importantly East Africa and South Africa could turn into the new "hotspot" for product tanker owners said consulting firm Mcquilling Services in a new report. It noted of the growth of clean petroleum products which are being delivered to the region, supported by a lack of downstream
15/04/2013
Back in February we took a look at China's impressive role in the growth of seaborne trade over the last decade. An astonishing 51% of seaborne growth in the period 2001-12 was accounted for by the Chinese economy, leaving no doubt as to the key driver behind the robust level of trade growth, at least as far as the
15/04/2013
Ocean carriers operating between Asia and the Mediterranean achieved little in the first quarter of the year, apart from hanging onto the westbound rate increase obtained in December, but this may only be the lull before the storm.
14/04/2013
The latest monthly report from OPEC said that according to preliminary data, global spot fixtures increased in March by 6.5% to average 17.89 mb/d. OPEC spot fixtures saw an increase as well, by 4.1% from the previous month to average 12.81 mb/d, up 0.51 mb/d from levels seen in February. This increase was driven mainly by
14/04/2013
There is little doubt that the introduction and subsequent domination of the shipping container enabled the massive expansion of worldwide trade and the rise of globalisation. What is often overlooked is the instrumental role that breakbulk-shipping played in this global revolution, carrying out-of-gauge, heavy and
14/04/2013
Two bills were recently passed by the Republic of the Marshall Islands (RMI) Nitijela in October 2012 and March 2013 respectively. These bills amend the RMI Maritime Act to include provisions for vessels under construction to be registered and mortgages recorded on such vessels (Bill No. 17) and provisions allowing for
12/04/2013
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. As a result they are looking to get ready ahead of the market's return to healthier levels, which means opening their pockets to acquire some new bulkers at bargain prices,
12/04/2013
Drewry’s latest Tanker Insight saw the Tanker Earnings Index jump by 69% as activity surged, lifting freight rates across all vessel segments. Chartering activity in the dirty tanker market remained buoyant as 77.9 million tonnes of crude were fixed for shipment, comfortably up on the 65.9 million tonnes fixed in February. Higher crude
12/04/2013
Although piracy episodes off the Horn of Africa have fallen in the last 12 months, a new World Bank analysis of its human and economic costs says that "Somalia cannot 'buy' its way out of piracy; nor can the international community rely solely on its law enforcement agencies to defeat pirates whether at sea or land."
11/04/2013
The latest predictions from BIMCO on the tanker markets reflect the difficult situation that many ship owners will keep on experiencing in the near future. According to the latest estimates, released yesterday, BIMCO expects that T/C equivalent average earnings for the VLCC segment will see more of the current hardship
11/04/2013
World trade growth fell to 2.0% in 2012 — down from 5.2% in 2011 — and is expected to remain sluggish in 2013 at around 3.3% as the economic slowdown in Europe continues to suppress global import demand, WTO economists reported on 10 April 2013. “The events of 2012 should serve as a reminder that the structural flaws
11/04/2013
Battery hybrid ships are believed to be an alternative energy system mix for the shipping of tomorrow. Recent results of a joint DNV and Grieg Star hybrid ship crane project show less than a year’s payback time and fuel savings of 30 % - and that you should get your battery on board sooner rather than later.
10/04/2013
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per day. The Panamax market is expected to hold on to recent gains and remain in the USD 5,000 – 10,000 per day range. In the Supramax market, BIMCO sees freight rates in the USD
10/04/2013
A report detailing the overall economic cost incurred worldwide from Somali piracy was launched in Denmark on Tuesday 9 April by Oceans Beyond Piracy (OBP), a project of One Earth Future Foundation. The report, The Economic Cost of Somali Piracy 2012, launched in the Assembly Hall of the National Museum in
10/04/2013
ERMA FIRST ESK Engineering Solutions S.A. has successfully concluded the installation of its Ballast Water Management System "Erma First" in two containerships being built at Zhejiang Ouhua Shipbuilding for Greek owner Evalend Shipping Co. S.A.