Northwest Europe VLSFO availability has tightened in the ARA hub, a trader said. Lead times of 5-7 days are recommended to ensure full coverage from all suppliers, up from 3-5 days in the previous week. HSFO supply has shown signs of improvement in the ARA hub in recent days. Some suppliers are now able to offer the grade with lead times of less than three days. However, for smooth coverage, lead times of 5-7 days are still recommended. The ARA’s independently held fuel oil stocks have averaged 14% higher so ...

For decades, the experience is that uncertain times create demand for our ships. We see that there is a scarcity of tankers. The NAT fleet is busy supplying energy to many parts of the world. NAT has not loaded Russian oil for several years. Our main customers, the major oil companies know that our ships are first class and they know they can always rely on Nordic American. Inflation in the US came in at 3.2% in October, down from 9.1% a little more than a year ago. The US ...

Ship design, particularly the design of bulk carriers, presents particular challenges when it comes to the decarbonisation of existing vessels, a forum of INTERCARGO members and guests in Athens has heard. Welcoming more than 200 attendees to the event entitled ‘Solutions for Sustainable Dry Bulk Shipping’, INTERCARGO Chairman Dimitris Fafalios advised: “Shipping is an extremely wide term covering both tramp and liner sectors. Our sector, that of dry bulk carriers, presents special challenges to decarbonisation due to its non-regular, itinerant nature, serving more ports and more anchorages in the world ...

V.Group (V.), the ship management and marine services company, and Aither, which provides carbon trading solutions for shipowners and other industries, are pleased to announce a strategic partnership focused on the seamless trading of carbon credits for the EU Emissions Trading System (ETS) scheme and beyond, benefiting shipowners with vessels managed by V. The EU Emissions Trading System requires organisations to account for their greenhouse gas emissions, helping to reduce emissions and generate revenues to finance the EU’s green transition. ETS currently covers emissions in the energy, aviation and manufacturing ...

Euronav NV provides a business and dividend update following the recent board and management changes. The Supervisory board has agreed to distribute USD 0.57 per share to shareholders for the period covering Q3 2023. This reflects positive freight market conditions in the large crude tanker market during Q3 2023. This favourable tanker market environment continues into Q4 2023 and is anticipated to remain robust during calendar year 2024. Mandatory Takeover offer Following the successful completion of the SPA (share purchase agreement) with Famatown/Frontline on 23 November, CMB by holding 49% ...

Swiss marine power company WinGD will realise the first commercial instalments of its new variable compression ratio (VCR) technology on two new dual-fuel LNG powered vessels being built for NYK Line. A 95,000 DWT bulk carrier being built at Oshima Shipbuilding Co.,Ltd. and a 7,000 CEU pure car and truck carrier (PCTC) being built at Shin Kurushima Dockyard Co.,Ltd will be the first two-stroke powered vessels that can dynamically optimise combustion depending on the fuel being used – delivering improved emissions, fuel economy and fuel flexibility. VCR technology was introduced ...

The Baltic Exchange’s dry bulk sea freight index gained for the fifth consecutive session to hit an 18-month peak on Wednesday as rates climbed across vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 305 points, or 12.8%, to 2,696 – its highest level since May 2022. The capesize index advanced to a near two-year high, adding 861 points, or 20.6% to 5,040. * Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and ...

TECO 2030 releases its Q3 2023 Report. The report is attached to this Stock Exchange Notice and can be found on our website. TECO 2030 has made great progress through Q3 2023, here are some highlights: In July, TECO 2030 announced that the company for the second time within approx. one year, has achieved to be invited for HORIZON EUROPE funding. This time, the company, together with partners, will receive EUR 13.5 million, the grant amount reserved for TECO 2030 is EUR 2.3 million. The project is a Horizon Innovation ...

PROSTEP has entered a partnership with HCLTech, a leading global technology company, to enable enterprises to accelerate their digital transformation journey. As part of this cooperation, HCLTech will offer its clients OpenPDM and OpenDXM GlobalX, PROSTEP’s PLM integration platform and data exchange solution. The leading German PLM consulting and software company expects this strategic partnership to significantly expand its customer base, especially in Northern Europe, North America, and Asia. HCLTech and PROSTEP enjoy a long-standing partnership that has matured and expanded with time. Initially, HCLTech provided software implementation services for ...

Wan Hai Lines held ship naming ceremony for WAN HAI 335 today (November 29) at CSBC Corporation, Taiwan. The ship naming ceremony was jointly hosted by Mr. Chien-Feng Wu, Vice President of Wan Hai Lines and Mr. Cheng-Tzu Wei, President of CSBC Corporation, Taiwan. We were delighted to invite Mr. Jeffrey Yu, President of Keary Global Group, Ltd. to attend the ceremony, and Ms. Sandy Sung, Vice President of Keary Global Group, Ltd. named WAN HAI 335 during the ceremony. WAN HAI 335 is the last vessel in the series ...

The International Chamber of Shipping has serious concerns regarding the recent attacks against commercial ships transiting the southern Red Sea and the Gulf of Aden. In all cases, these vessels are conducting their right of freedom of navigation and innocent passage. The attacks are a flagrant breach of international law and maritime norms by paramilitary forces in Yemen. These attacks must stop immediately, and the innocent seafarers released. The cost to the safety and well-being of the seafarers on board those ships while in the service of global trade being ...

STC South Africa, in collaboration with VSTEP, is launching a maritime simulation training center in Cape Town in the first quarter of 2024. VSTEP takes great pride in providing STC South Africa with their state-of-the-art simulator, NAUTIS, to assist in provision of cost-effective training solutions across the African continent. Background Story STC SA is proud to partner up with VSTEP to enable learning by simulation on a larger scale in South Africa and the region. South Africa, for many years has lacked the ability to provide high quality simulation training ...

CMA CGM is pleased to announce that it will be launching a new Asia Subcontinent Express 2 (AS2) service that connects Asia with the Indian Subcontinent, effective m/v “APL MINNESOTA” ETD Shanghai on December 3rd, 2023. AS2 main features are the following: Dedicated weekly service linking Central / South China to Colombo, Nhava Sheva & Mundra Port Rotation: Shanghai – Ningbo – Shekou – Singapore – Colombo – Mundra – Nhava Sheva – Singapore – Shanghai Offers Intra Subcontinent connection from Colombo to India Connecting with CMA CGM’s extensive network ...

Maersk (Maersk) welcomed the Maersk Karachi container vessel at the South Asia Pakistan Terminals (SAPT) for the first time on the recently updated FI3 ocean service today. With the addition of Karachi to the rotation, Maersk brings direct coverage of the Far East markets to Pakistan’s importers and exporters with around 30% quicker transit times. Karachi Port’s proximity to the consumer market, fisheries and industrial hubs will help customers to more than half their transit times compared to some of the other major ports in Pakistan. This way, the transit ...

Berg Propulsion has been selected to provide state-of-the-art control and propulsion technology for what will be one of the largest hybrid tugs ever delivered, after owner Buksér og Berging AS (BuBe) agreed specifications with Türkiye’s Uzmar Shipyard for its latest newbuild. The project will showcase Berg’s roles as an integrator of electric propulsion technology and a supplier of high performance propulsion equipment. Berg has been contracted to provide the full electrical power and control package for the Robert Allan-designed Rampage 4100BB-H tug, which will join BuBe’s North Sea operations in ...