SRTS News

Steven Jones, the founder of the Seafarers Happiness Index, on some of the improvements seen on life at sea during pandemic. It is a good sign for seafarers and the industry that there is so much rallying around behind the Neptune Declaration and pressure is being applied to ensure the ... read more

One of the most famous rig builders in the world is exiting the business. Singapore’s Keppel Corporation has announced that Keppel Offshore & Marine, which is up for sale, will undergo a major restructuring which will see it exit the offshore rig building business. The comprehensive restructuring will see Keppel ... read more

With the fuel price spread between low and high sulphur fuel oil now firmly back in triple digit territory in Singapore, the world’s top bunkering hub, for most of this month, shipping lines – and scrubber manufacturers – are looking ahead to assess whether the gap will widen or stay ... read more

Vietnam has become the latest country to take liners to task for the current sky high container freight rate scene. The Vietnam Maritime Administration (VMA) has vowed to probe prices on the transpacific and Asia-Europe tradelanes, where costs to ship boxes have shot up to record levels in recent months. ... read more

The first shipping IPO in New York since 2015 disappointed yesterday, especially considering it was a container offering with liners experiencing record profits at the moment. Israeli carrier ZIM’s IPO fell 23.2% on the first day of trading at the New York Stock Exchange with shares closing at $11.52, having ... read more

Hamburg Bulk Carriers’ Singapore offspring, HBC Asia, is chopping its fleet at a rapid pace. In October Splash reported that a string of ships were being marketed for sale, including its biggest ship and only Korean built bulker for sale, the nine-year-old 80,000-dwt kamsarmax Asia Opal. Now Equasis reveals that ... read more

US-based owner Eagle Bulk has acquired the 2017-built ultramax bulker from Monaco’s Scorpio Bulkers in a cash plus shares deal. The sale will close during the second quarter of 2021, and Scorpio will receive $15m for the vessel as well as a warrant for 212,315 common shares of Eagle Bulk. ... read more

Petrofac is expanding its provision of operations and maintenance support services for INEOS FPS to include engineering and construction support in a new five-year deal. Petrofac will continue to supply personnel to the Unity Platform in the Central North Sea, the onshore Cruden Bay Terminal and other landline sites. Nick ... read more

David Hume, the founder of The Liquid Grid, looks at how America’s next generation of seafarers could lead world shipping to a greener future. Maritime decarbonisation won’t happen without adoption of low-carbon energy technologies. Unfortunately, innovative energy technologies aren’t adopted all at once. Instead, technologies follow a adoption curve, which ... read more

Mitsui OSK (MOL) has sold its first and oldest LNG carrier, , for scrap after 37 years with the company. The vessel was delivered from Mitsui Ichihara in February 1984, and has sailed nearly 2m nautical miles while completing 733 voyages for the Japanese owner. “We sincerely appreciated our oldest ... read more

Eight days into his presidency and there’s already a host of initiatives signed by Joe Biden that will have enormous ramifications for shipping and offshore. Yesterday the 46th president of the United States focused on climate change. An executive order signed by Biden called for “enhanced climate ambition” with a ... read more

The 13,100 teu , which lost around 750 boxes during a storm in the Pacific on January 16, has arrived at its rerouted destination in southern Mexico. The chartered-in ship decided to ditch congested Los Angeles and make for the port of Lazaro Cardenas in the wake of the accident, ... read more

Cosco Shipping Energy Transportation has announced that the company plans to dispose of 10 elderly tankers as part of its fleet optimisation program. The vessels being disposed are made up of five VLCCs, three suezmaxes, one panamax and one handy tanker. The ages of the vessels are between 16 years ... read more

Tanker pool firm Heidmar is seeing growth under its new ownership with the establishment of a new LR2 tanker pool called SeaLion Tankers. Pankaj Khanna, CEO and new owner of Heidmar after buying out George Economou, told Splash that the pool has recently taken over four LR2s and now has ... read more

Infinium, an American electrofuels solution provider, has seen some famous brands come in for its latest round of funding this week. Investors included Amazon’s Climate Pledge Fund, Mitsubishi Heavy Industries (MHI), AP Ventures, Neuman & Esser, and the Grantham Environmental Trust. Infinium said the proceeds will be used to advance ... read more

A long mooted European shipbuilding merger has fizzled out. France and Italy on Wednesday decided to nix plans to combine Chantiers de l’Atlantique and Fincantieri, two of the continent’s best known shipyards. “The tourism sector is currently facing an unprecedented level of economic uncertainty due to the crisis of Covid-19 ... read more

Fast-growing China United Lines (CU Lines) has placed orders at Guangzhou Wenchong Shipyard for two 1,930 teu vessels, according to Alphaliner. No price has been revealed for the order. The Shanghai line last week made headlines by announcing its intention to enter the booming Asia-Europe tradelane next month. In a ... read more

Dry bulk vessels continued to change hands at pace this week, despite the spot market showing some serious corrections. Several shipbroking houses reported that Taiwanese owner U-Ming Marine Transport has sold its 2003-built 175,000 dwt capesize bulker . The Taiwanese-built vessel has been sold to mainland China buyers for $10.1m. ... read more

Norway’s DeepOcean has finalised the restructuring and wind down of its UK cable lay and trenching business, as announced in November last year. The company says the wind down together with further secured long-term financing has put the company on a sound financial footing with a strong platform for further ... read more

Subsea 7 has been awarded a major contract by Equinor for works at its Northern Lights carbon capture project.   The contract scope includes engineering, fabrication and installation of a 100km CO2 pipeline that will run from Øygarden to the CO2 storage complex, as well as installation of umbilicals, tie-in and ... read more