With an unprecedented wave of new LNG supply projects coming on stream, 33 new LNG ships have been ordered globally so far this year, compared to 19 in the whole of 2017 and just six in 2016. Owners have been tempted by higher spot/short-term charter rates, still-low newbuilding prices and rapidly growing LNG trade. New LNG supply is being absorbed far more easily than many expected by booming demand in Asia, according to leading energy consultancy firm Wood Mackenzie. A new wave of FIDs (final investment decisions) on new supply ...

Think of a dangerous cargo, and toxic waste or explosives might come to mind. But granular cargoes such as crushed ore and mineral sands are responsible for the loss of numerous ships every year. On average, 10 ‘solid bulk cargo’ carriers have been lost at sea each year for the last decade. Solid bulk cargoes – defined as granular materials loaded directly into a ship’s hold – can suddenly turn from a solid state into a liquid state, a process known as liquefaction. And this can be disastrous for any ...

The Approval in Principle (AiP) for the new cargo containment system (CCS) was delivered at Gastech 2018 in Barcelona today Paris-La Défense, France, September 17th, 2018: Bureau Veritas, a world leader in laboratory testing, inspection, and certification services, today announced that it has formally issued GTT with an approval in principle (AiP) for the development of a new CCS evolution of the NO96 range. This CCS, named NO96 Flex, benefits from the NO96 proven technology as well as the use of an efficient foam panel insulation. Matthieu de Tugny, COO, ...

The contract for the FPSO Dhirubhai-1, which operates on a 10-year contract on the MA-field with Reliance Industries Limited (“Reliance Industries”) in India, expires on Wednesday 19th September 2018 at 06:00 CEST. Ocean Yield ASA’s (“Ocean Yield” or “the Company”) subsidiary, Aker Floating Production AS, has today received an instruction from Reliance Industries to shut-down production on the MA-field. Reliance Industries has a purchase option for the FPSO which is valid until expiry of the contract. Following contract expiry, Ocean Yield will revert with more information on Wednesday morning,19th September ...

Capesize Commentary The Singapore F1 grand prix weekend did nothing to fire up the Cape FFA market which came under pressure in early trading. We did however find support after a relatively uneventful index and drifted sideways until a late sell off on the prompt. Q4 found some support at 23k and failed to break that support level despite trading there while the deferred saw very little selling interest throughout the day. Panamax Commentary A quiet start to the week with range bound activity. The morning saw sellers return, influenced ...

Asia to West Africa spot rates are inflating as a consequence of tighter capacity in a growing market. Southbound container shipments from Asia to West Africa in the first seven months of 2018 posted a similarly fast pace of growth as seen last year, driven in large part by a reinvigoration of key economies such as Nigeria and Angola that are benefiting from rising oil revenues. Headhaul Asia-West Africa container demand after seven months had risen by 6.1% to approximately 750,000 teu, according to data from Container Trade Statistics. For ...

The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said Monday that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. The regulations are designed to cut down emissions of sulfur, a pollutant blamed for human health conditions such as asthma. To get customers ready for the fuel upgrade, the Copenhagen-based company will from next year start to break out the fuel ...

Shipping on the Rhine river has been hampered for several weeks by low water levels which are now set to fall to 53 centimeters at key chokepoint Kaub Friday, the lowest since January 2017, Rhine river authority WSV forecast Monday. On Monday midday local time 75 cm were recorded. Levels haven’t been above 118 cm since the start of August resulting in additional transport costs. Premium payments typically apply from 140 cm and below at Kaub, operators said earlier. Reduced barge loadings not only result in higher transport premiums, raising ...

At this year’s World Maritime Day on 27 September, the International Maritime Organization will celebrate its 70th birthday by addressing challenges in maritime transport in order to work towards continued growth in the industry. One of these challenges is crewing, which affects not only the cost of transport – accounting for about 50% of the operational expenses onboard – but more importantly the safety and welfare of seafarers themselves. To address this, Solent University senior research fellow Dr Kate Pike is leading a team to find out the best manning ...

GTT has signed a Technical Assistance and License Agreement (TALA) with Keppel Offshore & Marine (Keppel O&M) enabling Keppel O&M to market liquefied natural gas solutions leveraging GTT’s membrane containment systems. Keppel O&M’s network of global yards will be licensed as outfitter to offer GTT’s LNG systems for the equipment and maintenance of LNG carriers, LNG Bunker vessels, LNG-fuelled vessels, as well as floating storage and regasification units (FSRUs), with a particular focus on vessels with capacities between 30,000 and 80,000 m3. GTT membrane systems have become the chosen technologies ...

The government has further eased the conditions for foreign flagged ships to carry fertiliser cargo along the coast by modifying the cabotage relaxation announced in June. According to the amendments issued on September 10, the minimum movement of fertiliser to the extent of 50 per cent of the total cargo onboard a (foreign-flagged) ship is applicable only for cargo loaded at any lndian port for coastal movement, that is, at least 50 per cent of the total coastal cargo on board should be fertilizer and rest of the coastal cargo ...

To assist shipping companies prepare for implementation of the UN IMO global sulphur cap for ships’ fuel oil, the International Chamber of Shipping (ICS) has produced – free of charge – some comprehensive guidance on implementation planning, to help ensure compliance across the shipping industry with this regulatory game changer. The free ICS guidance has been prepared for the vast majority of ships that will comply after 1 January 2020 using fuel oils with a sulphur content of 0.50% m/m or less. ICS Secretary General, Guy Platten, explained: “Shipping companies ...

The twin pressures of tough financial times for the shipping industry and the likelihood of more expensive fuel in 2020 are bringing the issue of bunker fuel bills into focus for the industry. Many shipowners and operators have gone through difficult times since the global economic crash of 2008. There have been numerous bankruptcies, heavy losses, and the revaluation of assets on balance sheets across the industry. This has not just affected small companies. Perhaps the most prominent failure of recent times was the Korean liner company Hanjin Shipping which ...

FUELSAVE, the Germany-based manufacturer of the unique fuel saving additive FS Marine+, has applied to become a partner of the CO2 Challenge, the initiative set up by US conglomerate Cargill, entrepreneurial cooperative group Rainmaking and classification society DNV GL. The CO2 Challenge aims to partner with start-ups and technology companies with systems capable of reducing a vessel’s CO2 emissions in line with international climate strategies and targets. Since the initiative was launched in June 2018, it has received some 70 applicants from 20 different countries. FUELSAVE co-founder and President Marc ...

Container shipping company Maersk Line has announced a new system of bunker charges for its customers to reflect higher fuel costs as the International Maritime Organization’s global sulfur emission limit drops to 0.5%. The company will impose its new bunker adjustment factor (BAF) from the start of next year, replacing its current standard bunker adjustment factor (SBF) system, it said Monday. The IMO’s global sulfur limit is due to drop from 3.5% to 0.5% from the start of 2020, forcing most shipowners either to switch from burning fuel oil to ...