SRTS News

Oslo-listed BW LPG has sold its very large gas carrier (VLGC) to Bangladesh-based Bashundhara Oil and Gas for approximately $40m. The 2005-built vessel, renamed to Bashundhara LPG Warrior, was delivered on April 15 and should bring net book gain of around $10m to BW LPG. “BW Empress was sold for ... read more

The International Association of Classification Societies (IACS) has named Lloyd’s Register CEO Nick Brown as its incoming Council chair. This is the first time that the IACS chair has been chosen by the association’s members and not by rotation, a move that follows governance changes announced in December last year. ... read more

The World Bank has a new report out this week on decarbonising maritime transport in which it specifically recommends countries pull back from investing in further LNG bunkering infrastructure. The World Bank has concluded that green ammonia closely followed by green hydrogen strike the advantageous balance of favourable features among ... read more

The orderbook for very large ore carriers (VLOCs) is rapidly running out. According to Alphabulk, 14 VLOCs are scheduled for handover this year, marking the first time annual deliveries have fallen below 25 ships in four years. Meanwhile, just one 325,000 dwt vessel is scheduled for delivery in 2022. Thereafter ... read more

The world’s most famous shipping economist, Dr Martin Stopford, has put a dollar figure estimate on what shipping will need to spend on the global merchant fleet to ensure ships comply with the International Maritime Organization’s 2050 decarbonisation goals as well as handling likely increased trade growth over the coming ... read more

Russia’s Ministry of Defense has reportedly announced it will close the waters leading to the Kerch Strait, which connects the Black Sea and the Sea of Azov, for warships and non-commercial vessels of other countries beginning next week until October 2021. The move comes amid growing tensions in the region, ... read more

Canada’s Algoma Central Corporation has been fined $500,000 in an American court after pleading guilty to dumping unprocessed oily bilge water into Lake Ontario. The US Department of Justice said employees onboard the violated the US Clean Water Act back in 2017 when they dumped approximately 45,000 litres of the ... read more

Julian Proctor is spearheading a new green shipping leasing company. The ex-Tiger Group executive joined asset management firm EnTrust Global at the start of last year, raising billions for its Blue Ocean Funds and has now led the creation of Purus Marine, a company that will buy environmentally-advanced vessels and ... read more

Athens-based handysize specialist Pioneer Marine has sold its 2009-built handysize bulker . The sale comes on the back of Pioneer completing the sale of four bulkers earlier in the year, and reduces the company’s owned fleet to nine vessels in total. Pioneer says the disposals have raised a total of ... read more

Tufton Oceanic Assets has announced an addition to its fast growing fleet, which now numbers twenty two vessels. The company has acquired a handysize bulker for $14.3m, the vessel already fixed for eleven to thirteen months to a maritime and logistics company. No further details were given. The acquisition is ... read more

Maersk Growth and several venture-capital companies have together invested US$3.5m in Torch, a 3PL platform focused on the short-haul segment. The seed funding is intended to enable Torch to expand its network and analytics capabilities, as well as its customer-service efforts. Launched in 2019, Torch connects high-volume shippers with a ... read more

The International Chamber of Shipping (ICS), in conjunction with Witherbys have released the 6th edition of the publication: Drug Trafficking and Drug Abuse On Board Ship: Guidelines for Owners and Masters on Preparation, Prevention, Protection and Response. This edition has been fully updated to offer guidance on how to protect ... read more

The search continues for the missing crew from , a 129-ft liftboat that capsized in stormy weather around 4:30 pm on Tuesday, 7 to 8 miles south of Port Fourchon on the Louisiana shore of the Gulf of Mexico. Special marine warnings from the National Weather Service were issued earlier ... read more

The US Court of Appeals for the Ninth Circuit this week ruled that an executive order by President Biden made moot the previous administration’s attempts to allow oil and gas development on the outer continental shelf in the Chukchi Sea off northwestern Alaska, in protected areas of the Beaufort Sea ... read more

Denmark’s Maersk Tankers has sold six new LR2 product tankers to ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), VesselsValue data shows. The company said the deal includes one 2020-built vessel and five 2021-built or to be built at ... read more

Australian offshore engineering company Worley has won a two-year contract extension to provide engineering, procurement and construction services to CNOOC’s three operated assets in the North Sea. Under the contract, Worley will provide over 200 onshore and offshore personnel for EPC services on the Golden Eagle, Scott and Buzzard platforms ... read more

The Maritime and Port Authority of Singapore (MPA) has teamed up with Oldendorff Carriers, BHP and GoodFuels to carry out the first marine biofuel trial involving an ocean-going vessel bunkered in Singapore. The vessel selected for the biofuel trial at the world’s largest hub for convetional bunker fuels was one ... read more

Another major shipper has today set its transport providers a deadline to ensure its supply chains are carbon neutral. Dutch brewer Heineken has laid out plans to decarbonise its own production by 2030 and its full value chain by 2040. Heineken also said today that by 2030 it aims to ... read more

Commodities giant Trafigura has come in to co-sponsor the development of the keenly awaited ammonia-powered engine being created by MAN Energy Solutions, a propulsion breakthrough many in shipping are now placing huge importance upon. The fuel-flexible, two-stroke ammonia engine is expected to be commercially available for large-scale ocean-going ships by ... read more

The Panama Canal Authority (ACP) has postponed by six weeks price increases on canal transit fees which were due to come into effect today. The announcement follows a joint letter sent by the International Chamber of Shipping (ICS), Asian Shipowners’ Association (ASA), and European Community Shipowners’ Association (ECSA), expressing concerns ... read more