Shipowners can now access accurate estimations of financing terms in an instant thanks to the upgraded tool released by oceanis, the Hamburg-based ship finance company. This industry-first tool, developed by oceanis, automatically predicts the loan terms available to Dry Bulk, Tanker, and Container vessels, providing shipowners with valuable insights into their financing options. The upgraded version of the tool requires as few as five inputs to generate a reliable estimation of loan terms. Shipowners simply need to provide the vessel’s (IMO) number, Fair Market Value, the requested Loan-to-Value (LTV) ratio, ...

Exports of grain from Ukraine are ready to restart using a temporary corridor, with the first dry bulk carriers in place, a Ukrainian government official said Sept. 16, although doubts remain about the durability of such a deal. Russia pulled out of the Turkey-brokered grain corridor that allowed for shipments of grain out of Ukraine in July. Moscow’s withdrawal, during a period of food price inflation and depleted harvests in key producing nations, came after several of its demands, including reconnecting the state-owned Russian Agricultural Bank to the SWIFT (Society ...

This analytical piece provides an in-depth examination of current trends in blank sailings across major shipping routes, encompassing the Transpacific, Transatlantic, and Asia-North Europe & Mediterranean trades. Shipping firms cancel or exclude planned journeys for various reasons, including seasonal demand shifts, trade imbalances, port congestion, labor disputes, adverse weather, or unforeseen events like the COVID-19 pandemic. In 2021-2022, carriers added extra voyages to meet rising demand, but supply chain issues caused ships to get stuck in port queues, resulting in numerous cancellations despite increased capacity. Nevertheless, blank sailings have been ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for the11th consecutive session on Wednesday, supported by strong demand across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 58 points, or 3.8%, to 1,584, its highest level since May 11. The capesize index added 125 points, or 6.4%, to 2,067, its highest level in almost three months. Average daily earnings for capesize vessels, which typically transports 150,000-tonne cargoes carrying commodities such as ...

Northwest Europe HSFO availability has improved a bit in Rotterdam and in the wider ARA hub. Some suppliers can offer the grade for prompt delivery dates, unlike last month when supply was limited, a source says. Lead times of 5-7 days are still recommended for the grade to ensure full coverage from suppliers there, a source says. Rotterdam’s HSFO price was trading around $595/mt on Wednesday, slightly down from levels of $620/mt seen last week. VLSFO and LSMGO availability remains normal in the ARA hub. Lead times of 4-6 days ...

Asia’s high sulphur fuel oil (HSFO) market extended declines on Wednesday, while latest customs data showed a fall in China’s fuel oil imports for a second consecutive month. Spot cash premium for 380-cst HSFO FO380-SIN-DIF slipped further to $2.75 a metric ton, hitting 12-week lows. The market has come under downward pressure in recent sessions, weighed by lower demand expectations from the Middle East as summer retreats, as well as less imports by China. Fuel oil imports in China were down 8% from July to 1.4 million metric tons in ...

Bureau Veritas, a world leader in testing, inspection, and certification services, and OrbitMI, the New York-based maritime software company, have announced a strategic collaboration cemented by Bureau Veritas investing in OrbitMI. Aimed at accelerating the development of both existing and new data-driven solutions, the collaboration will leverage combined strengths to address the dual opportunities of the digital transformation and the decarbonization of shipping. Bureau Veritas’ Marine & Offshore division and OrbitMI will address clients’ immediate regulatory and decarbonization requirements posed by CII, EU ETS and the recently enacted FuelEU standards, ...

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that on September 11, 2023, its group company MOL Drybulk Ltd. (President and Representative Director: Kazuhiko Kikuchi, Headquarters: Minato-ku, Tokyo) and Kambara Kisen Co., Ltd. (President and Representative Director: Hirotatsu Kambara; Headquarters: Fukuyama-shi, Hiroshima Prefecture) signed a basic agreement on time charter for a newbuilding methanol dual fuel bulk carrier(Note 1) to be ordered and owned by Kambara Kisen. The vessel is slated to be delivered in 2027. The vessel is designed to use e-methanol produced primarily by ...

Marlink subsidiary Telemar and console specialist Pariani combine their expertise to offer unique next generation virtual bridge layout Monaco, 20 September 2023. Telemar Yachting, a Marlink Group company, has partnered with renowned bridge console designer Pariani Srl to create T-Master Touch. This unique full-touch bridge for superyachts, combining touchscreen technology with flexible bridge ergonomics represents a shift in modern navigation. T-Master Touch combines workstations/pods, each equipped with large 32-inch 4K touch screen displays which can be built-in or installed standalone, enabling the bridge team to optimise their workflow, replacing the ...

An offshore hydrogen and ammonia production platform design from the Korea Research Institute of Ships & Ocean Engineering (KRISO) has received approval in principle (AIP) from ABS. The design developed by KRISO produces green hydrogen using electricity generated by a wind farm. Among the features, the design consists of a desalination system that desalinates seawater and turns it into clean water, an electrolysis system that produces hydrogen by electrolyzing water, a compression system that pressurizes the produced hydrogen, a nitrogen generation system that separates nitrogen from the air, and an ...

Global shipping and energy supply chain leader Crowley has teamed with nuclear power leader BWX Technologies, Inc. (NYSE: BWXT) through a memorandum of understanding for a ship concept that has the potential to generate alternative, zero-carbon emission energy for defense and disaster needs by including a microreactor on board. The new memorandum of understanding with BWXT’s Advanced Technologies subsidiary will allow both companies to jointly pursue and develop opportunities relative to the design, engineering and development of new shallow-draft hull ships that will supply small-scale nuclear energy to shoreside locations. ...

HEMEXPO – Hellenic Marine Equipment Manufacturers and Exporters – a leading suppliers and exporters association for the international shipping sector, has signed a memorandum of understanding (MoU) with the Greek Exporters Association (SEVE). Signed during the Thessaloniki International Fair on Friday 15 September by Mr. Symeon Diamantidis, President SEVE, and HEMEXPO President, Ms. Eleni Polychronopoulou, the MoU establishes a general framework of cooperation for the organizations to enhance their export orientation and strengthen their collective position in the international market. As part of the agreement, which was originally discussed at ...

In response to the evolving needs of the shipping industry to better connect with ship staff, we are thrilled to unveil our latest innovation, Dualog® Seafarer—a groundbreaking service empowering shipping companies and their crewing departments to implement enhanced crew communication and management strategies. The maritime landscape has seen significant transformations in recent times, with the need for seamless communication and efficient crew management at the forefront and with crew welfare and crew retention as central key performance indicators. Recognising these challenges, Dualog® Seafarer emerges as a solution that addresses the ...

Svitzer, a leading global towage provider and part of A.P. Moller-Maersk, has today announced the appointment of Mattias Hellstrom as its new Global Chief Commercial Officer (CCO), effective from 1 October. Mattias makes the move to Svitzer’s global business after three years as CCO of Svitzer Europe, and replaces outgoing Global CCO Videlina Georgieva, who was recently appointed Managing Director of Svitzer Australia. As CCO of Svitzer Europe, Mattias has played a key role in the organisation’s drive to become more customer centric, data driven and focused on quality service ...

Gastech 2023*, the world’s largest energy exhibition and conference, was held in Singapore from September 5 to 8. NYK participated in the sessions and panel discussions on next-generation energy on September 6 and 7, showing its commitment to taking the lead in decarbonizing marine transportation through zero-emission fuels, particularly ammonia fuel. Tsutomu Yokoyama, an NYK executive officer, spoke on the theme of “NYK’s initiatives to realize the usage of ammonia as a marine fuel and to establish an ammonia supply chain” at the session on the 6th. Given the trend ...