Ship Operating Costs Decline for Sixth Successive Year
Total annual operating costs in the shipping industry fell by 1.3% in 2017. This compared to the 1.1% average fall in costs recorded for 2016. For the third successive year, all categories of expenditure...
‘A Market Approach’ Dialogue on Bunker Surcharges
The European Shippers’ Council has called for a market approach dialogue on shipping line bunker surcharge mechanisms ahead of the IMO 2020 sulphur cap as the crude oil races towards $100 a barrel.
All time...
Bunker Contaminants Fuelling Confusion
2018 has not been a good year for marine fuels.
Contamination problems in the US, the Gulf and the Far East have affected hundreds of vessels. Alvin Forster Deputy director (Loss Prevention) and Louise Ferrari...
Liquefaction Effect Observed During Earthquakes Can Also Sink Ships
Granular materials like sand appear like a solid but under certain circumstances they can behave like a liquid. How this exactly happens is still a physical mystery.
Granular flow in vacuum
Water can play a role,...
Things Only Cruise Ship Operators Know
Most holidaymakers aren’t aware of the nitty gritty details of cruise ships. Unless you’re a seasoned cruise traveller, you scarcely get to know this. Even a seasoned cruiser doesn’t get to know the gory...
NYK, Tokyo Gas Celebrate Naming of LNG Vessel
The American Shipper reports that the naming ceremony of NYK and Tokyo LNG Tanker Co. Ltd new LNG ship took place at the TSU shipyard in Japan, this Wednesday.
NYK and Tokyo LNG Tanker...
Seanergy Sells Off Two Supramaxes, Becomes Pure-play Capesize Vessel Owner
Seeking Alpha reports that Seanergy Maritime has agreed to purchase a 180K dwt secondhand capesize vessel for $28.7M.
The company will also sell 2 of its supramax dry bulk vessels for a combined price...
Hahn LNG Fleet Reaches 16 Vessels with SK Shipping Acquisition
Hahn & Co, a Seoul-based private equity firm has acquired a 90% stake in SK Shipping, South Korea’s fourth-largest shipping company, for a reported US$1.35Bn.
Financially crunched
The company SK shipping, a subsidiary of energy conglomerate SK Group...
NYK Line Signs LNG Newbuild Charter Deal with Total
The Nippon Yusen Kaisha Line has signed a seven-year contract with Total Gas & Power Chartering, a unit of Total, for the construction of a newbuild LNG carrier.
The contract has been drawn and includes...
Ship Finance International Limited – Sale of Older VLCC
On October 1, the Ship Finance International Limited announced its plan to sell the 2001 built VLCC to a third party.
Sale of VLCC
The company has agreed to sell its 2001 built VLCC 'Front Ariake'...