Crude Tanker Market Update: Focus on VLCCs
By James Catlin
Summary
Over the last couple years, the VLCC fleet has experienced significant growth leading to the current oversupply situation.
A thick orderbook...
Taiwan’s Looming Shipping Problems
Taiwan appears to have a ship problem — not one like the Ching Fu Shipbuilding Co scandal, but one that poses substantial risks to...
Tanker Sold for a Dollar! Suspicion of Money Washing
Suspicions of money laundering has been raised after a tanker estimated at $ 1.8 million is being sold for only $ 1.
What happened?
The tanker...
Wilhelmsen Maritime’s Drew Marines Acquition Plan Runs Aground
Wilhelmsen plans to acquire Drew Marine could reportedly run aground after it was found that the deal could violate antitrust laws.
What happened?
It has been...
Europe Takes First Steps in Electrifying World’s Shipping Fleets
Since early 2015, a mid-sized car ferry, the MS Ampere, has been traversing the Sognefjord in western Norway from early morning to evening, seven days...
[Watch] CHILLING Footage of a Cargo Vessel Caught in Ocean Swells
CHILLING footage shows a huge cargo boat caught in spine-chilling ocean swells as the giant vessel is helplessly tossed around during a storm.
Disclaimer: This...
How do Alliances Affect My Rates and Service Contract with a...
An alliance is a group of ocean carriers joining forces to operate ships on some trade routes. Only the vessels and its operations are...
[Watch] 5 Key Questions to Consider in the Maritime Security Sector
Maritime security is one of the 17 major subjects for NATO, particularly with reference to the Mediterranean and the passage of immigrants and terrorists.
Increasing...
Top 4 Hook Awareness Checks to Avert Disasters
What Happened:
A routine operation was carried out to transfer a bulk hose between a platform and a PSV, with the help of the platform...
Will Scrap Yards Solve the Crude Tanker Glut?
Depending on when and where one looks, day rates for very large crude carriers (VLCCs) run between $8,000 and around $20,000. The sad fact...
Wisdom Marine Books Two More Bulkers in Japan
Taiwanese shipping company Wisdom Marine is investing USD 68 million in two new NOx Tier III bulk carriers.
The company said that the two 82,400...
Ship Benchmarking System Relaunched
Overview
BIMCO relaunches ship benchmarking system, a Shipping KPI after two years of redesign. The system helps shipowners and managers make strategic decisions about their...
A Tool to Visualize the Sounds of Vessel’s Engine
NYK and MTI Co. Ltd. have jointly developed a diagnostic tool that records, visualizes, and analyzes the operational sounds of a vessel’s engine plant....
Chemical Tanker Stops Pirate Attack
A chemical tanker has been successful in thwarting a pirate attack carried out by suspected Somali pirates.
What happened?
The chemical tanker ‘MT Leopard Sun’ was...
Fire in the Galley Aboard a Container Vessel
On February 25, a fire reportedly broke out in the galley of a vessel on the Danube and the crew members were having a...
Salvage of Damaged Lock Gate may Take Time
The lock gates of Kiel-Holtenau which was reportedly demolished after a cargo vessel rammed into its gates is likely to take weeks to be...
Giant Oil Ships From the U.S. to Cut Time, Money and...
Crude closed at a three-week high as booming stock markets stoked optimism about economic growth that drives energy demand.
Crude futures rose 0.6 percent in...
Refiners Tease Plans for 2020 0.5% Sulfur Bunker Fuels
As the shipping and bunker industries await the new 0.5% global marine fuel sulfur limit in less than two years, this week refiners have...
[Watch] Jumbo in Action on a Project
Earlier this year Jumbo completed their project for the Arkona offshore wind farm (E.ON and Statoil).
The entire project involves the construction of a...
Stern Lines Entangle the Propeller of Bulker Resulting in Deadly Accident...
Propeller of Vessel A
Summary:
During its service to help the cargo ship SWIFTNES dock at Tomakomai Port, Tomakomai city, Hokkaido, work boat Fuji Maru, with...
