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LNG for shipping makes headway through Poseidon Med II

A truck loading station in Revithoussa LNG terminal, at least three new LNG-powered vessels, one LNG barge based in Piraeus port and one LNG marine installation in Western Greece will be in operation as of 2020. This is one of the key highlights expressed by George Polychroniou from DEPA during his introductory speech at 21st May event, taken place at the Historical Library of Aikaterini Laskaridis Foundation, which was co-organised by the Hellenic ShortSea Shipowners’ Association (HSSA) and the Association of Passenger Shipping Companies (SEEN) within the framework of European ...

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Bomin Launches 2020-Compliant ULSFO in ARA

The Bomin Group, a leading global physical supplier and trader of marine fuels, yesterday announced that it is now delivering Ultra-Low Sulphur Fuel Oil (ULSFO) to vessels calling in the Amsterdam-Rotterdam-Antwerp region (ARA). The ULSFO product is 0.1% maximum sulphur, and it complies with MARPOL Annex VI regulations in current designated Emissions Control Areas (ECAs), as well as the impending global 0.5% sulphur limit, which will come into force in 2020. Deliveries will be carried out by the certified barges which Bomin employs in the region. The five state-of-the-art barges, ...

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‘Biggest’ change in oil market history: Crude prices set to soar ahead of shipping revolution

Instead of OPEC, Iran or even Venezuela, the most prominent driver of oil prices over the next two years is likely to come in the shape of a shipping revolution, analysts have warned. New rules coming into force in approximately 18 months’ time are seen as a source of great concern for some of the world’s biggest oil producers. That’s because global energy and shipping industries are thought to be ill-prepared for the looming sea change. On January 1, 2020, the International Maritime Organization (IMO) will enforce new emissions standards ...

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Awilco LNG Reports Increased Freight Income on Higher Rates and Fleet Utilization

Freight income for the quarter was MUSD 13.8, up from MUSD 9.6 in Q4 2017 due to full exposure to a spot market with increased activity and rates following a firm winter market. Fleet utilisation for the quarter ended at 97 %, compared to 83 % in Q4 2017. Voyage related expenses amounted to MUSD 1.4, compared to MUSD 2.3 in Q4 2017. Operating expenses were MUSD 1.9 in the quarter, same as in Q4 2017. Administration expenses were MUSD 1.0 in Q1, down from MUSD 1.2 in Q4 2017, ...

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Dry Bulk FFA: Panamax Index Bearish

Highlights: The Panamax index is now below Fibonacci support and testing the USD 9,856 level. Technically bearish below USD 10,006. The June futures remain technically bearish and continues to make fresh marker lows. The most recent pullback was less aggressive indicating that price action is pointing to an increase in downside momentum even though the stochastics remain oversold. Technical support is at USD 10,460 and USD 10,326. Price action remains bullish in the Q3 futures, but the MA’s remains flat suggesting we are currently seeing a bullish move in a ...

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The World’s Dirtiest Fuel will be Banned from Arctic Shipping. Here’s How

The Clean Arctic Alliance has good news to share regarding real progress towards a ban on the use and carriage of heavy fuel oil (HFO) as marine fuel in Arctic waters. In mid-April, at the HQ of the International Maritime Organization (IMO), the United Nations body which governs international shipping, the Marine Environment Protection Committee (MEPC 72) agreed to move forward on developing an Arctic HFO ban. The Clean Arctic Alliance was there in force, with an international delegation from Canada, Denmark, Germany, Ireland, Italy, Netherlands, Norway, Russia, Spain, Sweden, ...

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ZIM’s First Quarter Total revenues were $751.4 million in Q1 2018, a 14.7% annual increase

The container shipping industry is dynamic and volatile and has been marked in recent years by instability, due to ongoing changes in market conditions. Since the second half of 2016 and through the third quarter of 2017, increases were recorded in freight rates as well as in bunker prices. Commencing the fourth quarter of 2017 and during Q1 2018, freight rates have decreased while bunker prices continued to increase. In the face of this challenging business environment, ZIM continued to outperform the industry and increased its carried quantities. ZIM reported ...

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FUELSAVE GmbH: FS MARINE+ is Revolutionizing Shipping Efficiency, Helping Ship Operators to Become Cleaner & More Profitable for a Unique Win-Win

FUELSAVE GmbH is launching a revolutionary efficiency enhancement technology for Diesel (MGO / MDO) and Heavy-Fuel-Oil (HFO) engines on maritime vessels, which has been field & laboratory proven to significantly reduce fuel consumption and save contractually guaranteed 10% of the overall fuel costs, to lower the OPEX and increase profitability, while significantly reducing emissions ( CO2 by 10-15%, FSN by 40%, NOx by 30-70% etc.) for saving the environment and reducing Green House Gases (GHG) with a visible exhaust smoke reduction. The company’s breakthrough unit, called FS MARINE+ is an ...

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A.P. Moller – Maersk welcomes the relaxation of the Cabotage Legislation in India

“A.P. Moller – Maersk welcomes the relaxation of the cabotage legislation in India, a measure that in the long run will benefit India’s global competitive position. The announcement made by the Ministry of Shipping to relax the Indian cabotage law enables global shipping lines to carry EXIM containers along India’s coast. This will bring greater competition to the feeder market which in turn would benefit local importers and exporters. Indian ports would also benefit as this positive change would allow them to compete for container traffic currently handled in adjacent regional ...

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Hamburg Süd: Adjustments to the EMCS service between Mexico, Central America, the Caribbean and North Europe

Hamburg Süd is revising the sequence of ports in its EMCS service between Mexico, Central America, the Caribbean and North Europe. Beginning in June, weekly calls will be made at the following ports as part of the EMCS service: Puerto Moin (Costa Rica) – Cork (Ireland) – Tilbury (UK) – Antwerp (Belgium) – Bremerhaven (Germany) – Altamira (Mexico) – Veracruz (Mexico) – Port of Big Creek (Belize) – Manzanillo (Panama). The EMCS continues to provide clients short transit times and broad port coverage of Mexico, Belize, Panama and Costa Rica ...

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GC Rieber Shipping – First quarter results 2018

GC Rieber Shipping ASA has strengthened its financial position through the first quarter of 2018 and is well positioned to benefit from an increasing activity level and an improved order backlog. The company has secured several new charter contracts. For the subsea and ice/support vessels GC Rieber Shipping has a contract coverage of 93 percent for the remaining of 2018, while Shearwater GeoServices is fully booked through the third quarter of 2018. GC Rieber Shipping had an operating income of NOK 31.4 million in the first quarter 2018, compared to ...

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Aqua-Tools’ B-Qua Nominated For Seatrade Clean Shipping Award

Aqua-tools’ B-QUA ballast water monitoring technique, which is based on an advanced Adenosine Tri-phosphates (ATP) testing methodology, has been nominated in the Clean Shipping category of this year’s Seatrade Awards. Marc Raymond, aqua-tools’ founder and CEO, said: “We are thrilled to be nominated for this award. While aqua-tools has been supplying water and fuel microbiological expertise to industrial and maritime industries for some time, the ballast water treatment sector is relatively new to us. “To be nominated for a Seatrade Award so early on is indicative of the important commercial ...

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HRH The Earl of Wessex Endorses Six Seafarers UK President’s Awards

Seafarers UK’s President’s Awards are given annually to individuals or organisations who have made a significant contribution, either through a donation, participation in a challenge event, or championship of the charity’s cause. This year, Seafarers UK – established in 1917 as King George’s Fund for Sailors – chose to acknowledge those who made a difference through their generous support of the charity’s Centenary Appeal in 2017. At Seafarers UK’s Annual Meeting on 22 May awards were presented by Captain Ian McNaught, Deputy Master of Trinity House, to individuals and organisations ...

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Tim Bush Promoted to Crowley Vice President, Deputy General Counsel

Crowley Maritime Corp. announced yesterday that Tim Bush has been promoted to vice president and deputy general counsel. In his new position, Bush will help support the company’s growth as a leading provider of solutions for the U.S. government and various public-sector agencies. He will be based in Houston and report to Michael Roberts, senior vice president and general counsel. “Tim is an outstanding lawyer, and adds a great deal of value to the Crowley team,” Roberts said. “In addition to serving as counsel, Tim has a wide range of ...

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New President plots course for The Nautical Institute

The newly elected President of The Nautical Institute, Captain Nick Nash FNI FRIN FRGS has pledged to help in its efforts to improve standards of shiphandling and bridge resource management (BRM). Captain Nash is Senior Master for Carnival Corporation’s 144,000 GRT, 3650 passenger vessel the Royal Princess. He also teaches at the group’s simulator training facility in Amsterdam, where he is a part-time lecturer on BRM and Shiphandling. The Institute has recently published a Shiphandling logbook aimed at providing users with an essential tool to help them manage the development ...

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