W\u00e4rtsil\u00e4: Market Being Steered by Environmental Awareness and Changing Energy Needs
Wärtsilä says sales growth comes at a time when the marine market is increasingly focused on environmental awareness and efficiency solutions.
Gener8 Maritime Heads List of 2015's Biggest Spenders on Second Hand Tonnage
Gener8 Maritime are the biggest spenders on second hand tonnage so far in 2015, according to data from VesselsValue.com.
The company's spend of\u00a0$1.4 billion\u00a0was on 14 vessels it assumed the newbuilding contracts for that were originally placed by\u00a0Navig8 Crude Tankers Inc (Navig8).
The vessels are being built at Shanghai Waigaoqiao Shipbuilding in China, Hyundai Samho Heavy Industry in South Korea, and Hanjin Subic in the Phi
DNV GL: State-of-the-Art LNGreen LNG Carrier Completed, is 8% More Energy Efficient
Nikolaos Kakalis, Manager of DNV GL Research & Development stressed that the LNGreen concept design could be ordered today
U.S. Navy Releases Censures Issued to Three Admirals in Bribery Scandal
The U.S. Navy has released the censures that were issued to Admirals Miller (l), Kraft (c), and Pimpo (r) \ufeff[Image: US Navy]
Crude Futures Firm After a Volatile Tuesday Trading Session
Crude futures firmed slightly today after a volatile trading session earlier in the day.
The U.S dollar eased off of a 3 month high against a basket of other currencies making commodities backed by USD cheaper for buyers of other currency.
Expiry ofWTI contracts for August delivery firmed $0.21 cent settling at $50.36 per barrel.
Brent front month contracts for September gained $0.39 cents settling just above $57.00 per barrel.
In the grand scheme
Lloyd's Register Partners with Penn Oak Energy on LNG Retrofit Financing
Lloyd’s says it will be developing a “a one-stop-shop solution” to assist companies in raising the capital required to retrofit their ships for LNG propulsion.
2015 Orderbook for Newbuild Tankers Set to Beat 2013 Record Year
Gibson says that for most size groups the tanker orderbook has now reached the highest level since 2011-12.
UK P&I: Concerns Remain as Low Sulfur Fuel Rules Place Increasing Demands on Shipowners
Stuart Edmonston, Loss Prevention Director at UK P&I says Industry concerns include technical issues such as low viscosity and lack of lubricity
Bunker Prices to Remain Under $500/mt for Rest of the Decade, Shell Prediction Suggests
Shell says prices will take several years to recover
A Royal Dutch Shell dire
More Ships Heading to U.S. East Coast Ports at the Expense of the West
U.S. East Coast ports are reportedly seeing increases in both the number and size of vessels as a result of West Coast shipping traffic diversions.
Iran, Greece Woes Push Rotterdam, Piraeus Bunker Prices to 15 Week Low
Prices for 380 cSt product in Piraeus Monday fell to $306.00 pmt, the lowest price since April 3, 2015.
NNPC Bans 113 Oil Tankers from Nigerian Waters
Nigeria has banned 113 oil tankers from its waters
A crackdown on illegal cru
Neste: Vessel Speeds Still Not Optimal, Millions of Euros in Bunker Savings Still Available
Neste says vessels are still not travelling at optimum speeds
Although the sh
Lithuanian Shipping Company on the "Brink of Collapse" but Has Credit to Buy Bunkers for Arrested Ships
Lithuanian Shipping Company has sold off a number of vessels in an effort to reduce its financial burden
J. Lauritzen: Dry Bulk Has Hit Rock Bottom, Operators Are "Burning Through Cash"
Sato says J. Lauritzen will not be scrapping any vessels.
J. Lauritzen says d
NOL Downplays Reports of a Potential Sale
NOL says it "has a duty to consider its options to maximize shareholder value."
Crude Futures Start the Week Soft
Crude futures fell further today following last weeks momentum on expectation that the lifting of Iran sanctions will put an over excess supply on a heavily saturated market.
Brent front month contracts for September closed down $0.45 cents settling at $56.65 per barrel.
WTI contracts for August delivery softened by 1.5% percent settling at $50.15 per barrel.
It should be noted that WTI futures broke the $50.00 level during the trading day, these pri
ZIM Switches to Slavyanka for Bunkers
TOR consists of a 1,700 dwt floating crane that is able to raise containers weighing up to 50 tonnes to a height of up to 36 metres.
Bunker Spill Risk Being Assessed After Tanker Collides with Ferry
The collision left a hole in the side of the ferry, which was reportedly on its way from Fredrikshamn, Denmark to Gothenburg.
Fourteen Ships to be Investigated Over Australian Bunker Spill
Fourteen ships will be tested as the possible source of a marine fuel spill