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22-07-2015

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.
22-07-2015

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
22-07-2015

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
22-07-2015

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]
22-07-2015

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
22-07-2015

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.
22-07-2015

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.
22-07-2015

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
22-07-2015

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
22-07-2015

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.
22-07-2015

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.
22-07-2015

NNPC Bans 113 Oil Tankers from Nigerian Waters

Nigeria has banned 113 oil tankers from its waters A crackdown on illegal cru
22-07-2015

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
22-07-2015

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
21-07-2015

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
21-07-2015

NOL Downplays Reports of a Potential Sale

NOL says it "has a duty to consider its options to maximize shareholder value."
21-07-2015

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
21-07-2015

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.
21-07-2015

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.
21-07-2015

Fourteen Ships to be Investigated Over Australian Bunker Spill

Fourteen ships will be tested as the possible source of a marine fuel spill F
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