Qatar Blockade May Boost Aframax and Suezmax Demand
The Saudi-led blockade against Qatar has raised concerns about multi-port loadings of Doha’s crude oil grades on very large crude carriers, with charterer interest diverted to smaller tankers such as aframaxes and suezmaxes, ship...
Shell Launches Next Generation Trunk Piston Engine Oils
Shell Marine has unveiled next generation Shell Argina and Shell Gadinia trunk piston oils for the medium-speed engine market, confirming the success of a two-year quest to meet simultaneous market challenges posed to ship...
Ship Leaking Methane is Evacuated in San Pedro
A 40-foot tank being loaded onto a ship developed a small methane leak Wednesday in San Pedro, prompting evacuation of the ship.
What happened?
The incident was reported at 4:14 a.m. at the West Basin Container...
Tons of Heroin Seized on Board Ship
Turkish police and coast guards have seized more than a ton of heroin in a raid on a Congo-flagged ship in international waters.
What happened?
Anadolu Agency said Wednesday the heroin was one of the largest...
Greek Ship Owners Clash with Schäuble Over Taxation
The inability of German maritime policy to successfully support its domestic shipping industry is the motivation behind Wolfgang Schäuble’s pressure on the Greek government to tax shipping firms, Greek ship owners said in a...
Weekly Vessel Valuations Report, June 06 2017
Tanker:
Tanker values have remained stable this week.
The VLCC Irene SL (319,200 DWT, Oct 2004, Hyundai Samho HI) sold to Sinokor Merchant Marine for USD 30 mil vs VV USD 29.59 mil.
The VLCC Gener8 Poseidon...
Dry Bulk Ships: To Buy or Not to Buy?
The dry bulk market had a great run from the fall of the last year until March this year when the BDI reached 1,338 points on 29 March. While freight rates still have been...
Baltic Sea Campaign: Germany Announces New Patrol Ship
The Baltic Sea harbor porpoise is listed by the IUCN (International Union for Conservation of Nature) as “critically endangered”, with a population estimated to be less than 500 individuals in 2016. The harbor porpoise...
Pressurised Fuel Oil Leak Causes Fire in Ship Engine
Summary:
On 27 April 2016, at about 13:30, the staff chief engineer heard one of the crew members shouting in the engine-room. He made his way to the workshop in order to investigate what had...
Oil Shipping Bears Brunt of Qatar Diplomatic Crisis
In the aftermath of the UAE and Bahrain's decision to cut diplomatic ties with Qatar, their respective port authorities have issued restrictions on movement of ships to and from the country, which will have...