SRTS News

The International Maritime Organization (IMO) agreed on Friday after a week-long online meeting to make an existing target legally binding: to reduce the carbon intensity of shipping by 40% compared with 2008 levels in the next 10 years. Member states were very divided with a sizeable minority fighting hard for ... read more

Contrary to some broking reports and a story carried on this site earlier this week, Hamburg Bulk Carriers (HBC) is not downsizing its fleet. In fact senior management tell Splash the intention is to add more tonnage. Splash reported incorrectly this week that the company led by Georg Greilinger and ... read more

Contrary to some broking reports and a story carried on this site earlier this week, Hamburg Bulk Carriers (HBC) is not downsizing its fleet. In fact senior management tell Splash the intention is to add more tonnage.  Splash reported incorrectly this week that the company led by Georg Greilinger and ... read more

The United States is looking at copying the European Union’s path to carbon pricing on shipping. The House Natural Resources Committee, a Congressional committee of the United States House of Representatives, has introduced the Ocean Climate Based Solutions Act (OBSCA) this week. The bill is designed to address a host ... read more

It’s been an especially fractious week at the International Maritime Organization (IMO) as debate rages on how best to improve shipping’s carbon footprint. As the IMO’s Intersessional Working Group on Reduction of GHG Emissions from Ships reaches its final day today there is a real threat that up to 30 ... read more

New Zealand is cracking down on how animals are exported overseas in the wake of last month’s sinking of the with the loss of more than 5,800 cattle and presumed deaths of 41 crew. The Ministry for Primary Industries will now demand more focused maritime inspections of all livestock carriers ... read more

Nippon Yusen Kaisha (NYK) has bought out the French LNG shipmanagement joint venture it has with energy major Total. Based in Marseille, and responsible for the management of six LNG carriers, Gazocean is now a wholly owned subsidiary of NYK. Before the purchase, NYK held 20% of Gazocean shares and ... read more

Chinese owner Rewood Ocean Shipping (Rosco) has once again listed its entire fleet for sale. According to shipbroking reports, Rosco is now inviting offers for its fleet of 11 bulk carriers comprising of seven panamaxes, three kamsarmaxes and one capesize. All of the vessels are Japanese-built apart from two kamsarmaxes, ... read more

The 2019-built 16,700 dwt bunkering tanker was reportedly attacked near Sao Tome in the Gulf of Guinea on Thursday. According to maritime security consultancy Dryad Global, the alert system onboard the vessel was activated when it was transiting about 200 nautical miles west of Sao Tome, and a further report ... read more

BW Offshore has announced the decision to place BW Umuroa, the owner and operator of FPSO , under voluntary liquidation to prevent further accumulation of losses. Tamarind Taranaki, the operator of Tui Field at New Zealand, terminated the contract for FPSO Umuroa last year after it went into insolvency in December ... read more

Norway’s Wilhelmsen has announced that its HyShip project has been granted EUR8m ($9.44m) in funding from the EU’s Research and Innovation programme Horizon 2020. The HyShip project involves 14 European partners collaborating on the design and construction of a new ro-ro demonstration vessel running on liquid green hydrogen (LH2), as ... read more

Monaco’s Scorpio Bulkers has announced its second sale this week, offloading the 2016-built ultramax for $17.5m. The sale, which is slightly below the market value of $18.07m according to VesselsValue, will be completed during the fourth quarter of this year. Since announcing a move into the offshore wind sector, ordering ... read more

Pillarstone-controlled shipping company Premuda has announced the setup of new joint venture CSM Italy with Columbia Shipmanagement, based in Genova. CSM Italy’s core business will be to provide a full range of management and maritime services to the entire Italian maritime cluster. At first, all 28 ships controlled or operated ... read more

A total of 29 Filipino seafarers have tested positive for coronavirus after arriving in China to board their ships, according to a report carried in the Manila Bulletin, the Philippines’ largest English language broadsheet newspaper. According to the Philippine Overseas Employment Administration (POEA), the Chinese embassy in Manila informed the ... read more

Gerry Buchanan from the Liberian Registry provides readers with suggestions and updates on how to resolve the crew change crisis. With hindsight of course there is plenty that could have been done months – or even years – ago to have ensured the crew change crisis never happened in the ... read more

In another landmark moment in the reshaping of ties in the Middle East, Israeli carrier ZIM will start calling at Jebel Ali port in the United Arab Emirates (UAE). Israel has opened diplomatic and trading ties with old foes, Bahrain and the UAE in recent weeks with Dubai terminal operator ... read more

Olso-listed VLCC pure-play company ADS Crude Carriers has cleared out its fleet after announcing the sale of its last vessel. The company has announced the sale of the 2002-built VLCC for a price of $25.5m, significantly higher than the $24.37m market value according to VesselsValue.  The vessel will be delivered ... read more

Monaco’s Scorpio Bulkers has sold its fourth ultramax in the space of a week with the same of . The 2016-built ultramax was sold to an unnamed third party for a price of $18.5m, a little under the $19.27m valuation by VesselsValue. Delivery of the vessel is schedule for during ... read more

The dry bulk sale and purchase market flourished this past week led by capesizes, even though this segment struggled rates-wise with Fearnleys noting the market has come off by 26% for all routes, and the cape sentiment has been “very gloomy”. So why all the sales? Simply because of the ... read more

Greek owner Safe Bulkers has sealed the acquisition an 82,000 dwt eco kamsarmax bulker, currently under construction in Japan. The bulker is scheduled for delivery in the first half of 2022, and Safe Bulkers has financed 90% of the deal by entering into a sale and lease back through a ... read more