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Splash 247 11/18/2019 02:26
Latest figures from Clarkson Research Services show the huge hesitancy among owners to place orders this year. Describing newbuilding contraactiung in the year to date as “subdued”, Clarkson data carried in its latest weekly report shows that 708 new vessels have been reported in 2019 to date, a year-on-year decline of 40% on an annualised […]
Splash 247 11/17/2019 21:50
Cosco Shipping Energy Transportation, the tanker unit of Cosco Group, has upgraded a VLCC newbuilding under construction at Dalian Shipbuilding Industry (DSIC) to LNG-powered. The vessel, one of four VLCCs Cosco ordered at DSIC in 2017, will be equipped with dual fuel LNG propulsion system and it will also be the first LNG-powered VLCC that […]
Splash 247 11/17/2019 21:01
Prescriptive short-term measures to cut shipping’s carbon footprint appear to be on the back burner following last week’s intersessional greenhouse gas gathering at the International Maritime Organization (IMO). The IMO has agreed that a goal-setting approach is the best way to reduce carbon emissions in the short-term. Full details of the approach will be resolved […]
Splash 247 11/17/2019 18:02
Malaysian offshore marine group Nam Cheong has signed an MOU to enter into a lease agreement with Labuan Corporation, an agency under the Ministry of Federal Territories, to redevelop the existing facilities on the land in Kiansam, Labuan. Under the deal, Nam Cheong Dockyard intends to redevelop the existing facilities on the land into modern […]
Splash 247 11/17/2019 18:00
Even when everyone knows something is going to happen, it’s still fascinating to watch it come true. HSFO demand is beginning its long-awaited drop off and this past week we have begun to see the early signs of its impact on prices. Spot differences between HSFO and VLSFO have risen dramatically from $170 last week […]
Splash 247 11/17/2019 15:30
Indonesian tanker owner PT Buana Lintas Lautan (BULL) has splashed out $39.7m to buy 2016-built LR2 product tankers FSL Piraeus and FSL Perth from Singapore’s First Ship Lease Trust (FSL), according to brokers. Seasure Shipbrokers and Advanced Shipping and Trading are both reporting the deal at $19.85m for each vessel, with VesselsValue putting a market […]
Splash 247 11/17/2019 15:00
Theodore Veniamis-led Golden Union has acquired a pair of Chinese post-panamax bulkers from commodity trader Noble Group, according to brokers. Seasure Shipbroking and Advanced Shipping & Trading report that Golden Union has acquired the 2010-built Ocean Garnet for $13.65m and the 2012-built Ocean Sapphire for $14.85m. VesselsValue values the vessels at $12.9m and $15.6m respectively, […]
Splash 247 11/17/2019 14:30
Australia’s Karoon Energy has sealed an agreement with Stena Drilling and Tullow Oil to contract the drillship. The drillship has been contracted to drill one well, the Marina-1 exploration well, in Karoon’s 40% owned and operated Block Z-38 in the Tumbes Basinm Peru. Drilling is scheduled to commence in the first quarter of 2020, slotting […]
Splash 247 11/15/2019 02:18
Singapore-based LPG carrier operator Epic Gas has announced the acquisition of 2015-built 11,000 cu m LPG carrier . The Sasaki-built vessel was owned by Japanese owner Kumiai Senpaku and has been on bareboat charter to Epic since February 2015. Epic Gas has exercised the purchase option under the charter contract. Epic Gas funded 60% of […]
Splash 247 11/15/2019 02:00
Several Chinese central government authorities led by Ministry of Transport have released a guideline to promote the development of the port industry in the country, outlining major tasks and targets. By 2025, China aims to achieve breakthroughs in green, smart and safe development of major ports, and the country plans to further develop major ports […]
Splash 247 11/15/2019 01:46
The classification sector shows no signs of slowing its diversification drive as ship orders dry up. Britain’s Lloyd’s Register is now getting into the financial advisory business, teaming with part of New York-based Seabury Capital Group to build a platform to help shipowners and other shipping stakeholders better assess the risks and opportunities facing their […]
Splash 247 11/15/2019 00:50
At the annual conference of the Confetra logistics association held this week in Rome, Olaf Merk, project manager for ports and shipping at the International Transport Forum of the Organisation for Economic Co-operation and Development (OECD), spoke once again about the liner consortia block exemption rules (BER) set to expire next April, a topic that [...]
Splash 247 11/14/2019 22:20
Norway’s Ulstein Group has introduced a hydrogen-powered construction support ship design which it claims to be market-ready now. The company said the Ulstein SX190 Zero Emission ship design aims to reduce the environmental footprint of offshore projects. “The maritime industry needs to align and be ambitious in bringing green solutions forward for a sustainable future. […]

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