• Solid oxide fuel cell developments proliferate
    Shipping is moving inexorably closer to major fuel cell breakthroughs. Class society ABS has just granted approval in principle (AIP) to solid oxide fuel cell (SOFC) technology developed by Daewoo Shipbuilding & Marine Engineering (DSME), one of South Korea’s top shipyards. Granting of AIP follows two joint development projects between ... read more NewsPublished on 21.01.2021By Sam Chambers
  • Global Energy Ventures and Pacific Hydro to partner up on green hydrogen shipping
    Australia’s Global Energy Ventures and Pacific Hydro Australia Developments have executed a memorandum of understanding to explore opportunities regarding the production, storage, loading, ground and marine transportation of green hydrogen produced by Pacific Hydro’s Ord Hydrogen Project. The parties will work collaboratively on developing an export market and associated marine ... read more NewsPublished on 21.01.2021By Jason Jiang
  • Weekly Broker: Bulk volatility is back
    The secondhand dry bulk S&P market has seen a plethora of deals completed in the past week with interest across all size segments, reflecting owners’ confidence in the outlook of the market. “It took some time for shipowners to assimilate the possibility that we are heading towards better days – ... read more NewsPublished on 21.01.2021By Jason Jiang
  • Half the oil taken off stricken Venezuelan FSO
    Venezuelan state oil company PDVSA has completed the transfer of half of the crude from the floating storage tanker, after the vessel started to list in October last year. PDVSA started offloading crude from the FSO, anchored in the Gulf of Paria near Venezuela and Trinidad and Tobago, in December ... read more NewsPublished on 21.01.2021By Jason Jiang
  • DSME diversifies into offshore substations
    South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has entered into an agreement with compatriot power plant builder Kepco Engineering & Construction to develop offshore substations in order to meet the growing demand from offshore wind farms. According to DSME, the two companies plan to jointly research and develop ... read more NewsPublished on 20.01.2021By Jason Jiang
  • Skou: Maersk will order first carbon-neutral ships within the next three years
    Søren Skou, the CEO of AP Moller-Maersk, the group that controls the largest containerline in the world, has mapped out when he will put pen to paper to order the company’s first carbon-neutral ships. Speaking in the latest episode of the Outrage and Optimism podcast, which focused on the future ... read more NewsPublished on 20.01.2021By Sam Chambers
  • United Africa Feeder Line to be sold
    Germany’s Deutsche Afrika-Linien/John T. Essberger Group of Companies (DAL / JTE) is closing in on the sale of United Africa Feeder Line (UAFL), a regional container and feeder operator based in Mauritius. Alphaliner reports in its latest weekly report that DAL/JTE has found a Luxembourg-registered investment fund to buy the ... read more NewsPublished on 20.01.2021By Sam Chambers
  • Cyprus slashes tonnage tax dues for greener ships
    Cyprus is making changes to its tonnage tax system to encourage owners to operate greener ships. The Cyprus shipping deputy ministry has announced a new range of green incentives to reward vessels that demonstrate effective emissions reductions. From the fiscal year 2021, annual tonnage tax will be reduced by up ... read more NewsPublished on 20.01.2021By Sam Chambers
  • Greece’s Avin International orders landmark ammonia-ready suezmax series
    Greece’s Avin International has ordered the first ammonia fuel ready vessel in the world. The suezmax tanker has been ordered at China’s New Times Shipbuilding. The contract comes with options for two more. Currently conventionally fuelled, the vessel complies with the ABS Ammonia Ready Level 1 requirements, indicating it is ... read more NewsPublished on 20.01.2021By Sam Chambers
  • Oriental Energy orders VLGC pair at Jiangnan Shipyard
    Chinese gas trader Oriental Energy has entered into shipbuilding contracts with Jiangnan Shipyard for the construction of two 93,000 cu m very large gas carriers. The LPG dual-fuel vessels will be used to support Oriental Energy’s development of a new plant in Guangdong. Delivery of the vessels is scheduled for 2023. ... read more NewsPublished on 20.01.2021By Jason Jiang
  • Scorpio Bulkers sells two more ultramaxes
    Monaco-headquartered Scorpio Bulkers has sold 2015-built ultramax pair SBI Leo and SBI Lyra. The two vessels, which were financed via a sale-and-leaseback deal with China’s Avic Leasing in 2019, were sold for a total of around $35m. Delivery of the vessels is expected to take place by the end of ... read more NewsPublished on 20.01.2021By Grant Rowles
  • Crews ships to the rescue
    Container shipping consultant Andy Lane suggests out of work cruise ships could solve certain parts of the crew change crisis. Another day and the full expectation that industry media readership will once again be exposed to a raft of articles relating to crew changes, extended working periods of crews beyond ... read more NewsPublished on 20.01.2021By Splash
  • Elon Musk’s SpaceX buys Valaris rigs to build floating launchpads
    Elon Musk’s SpaceX has acquired two semi-submersible drilling rigs from offshore driller Valaris, with plans to convert them into floating launch pads for its Starship rocket, CNBC has reported. Valaris sold the 2008-built Valaris 8500 and 2009-built Valaris 8501 to Lone Star Mineral Development, an affilaite of SpaceX, for a bargain $3.5m ... read more NewsPublished on 20.01.2021By Jason Jiang
  • Creditors approve Borr Drilling refinancing plan
    Norway’s Borr Drilling has announced that the company’s liquidity improvement plan has received support from its creditors. Under the plan, the company will defer a series of loan facilities of $2.24bn in total by up to two years. The facilities include $272m newbuild delivery facilities for three rigs delivered by Keppel ... read more NewsPublished on 20.01.2021By Jason Jiang
  • Lomar swoops for NSC boxship pair
    UK owner Lomar Shipping has acquired 2010-built 2,872 teu boxship pair Angol and Angeles from Germany’s NSC Schifffahrtsgesellschaft. Brokers are reporting the enbloc deal for a total of $20m, with VesselsValue indicating a total fair market value of over $29m for the two ships. NSC now has six ships committed ... read more NewsPublished on 19.01.2021By Grant Rowles
  • Solstad Offshore awarded UK PSV contract
    Norway’s Solstad Offshore has been awarded a contract for 2013-built platform supply vessel . The contract is with a UK operator, supporting their assets in the North Sea. Commencement is scheduled for April 1, and the contract is for a period of one year firm, with two optional years. Sea ... read more NewsPublished on 19.01.2021By Grant Rowles
  • Polish energy trio join forces to develop offshore wind projects
    Three of Poland’s largest energy companies are joining forces to develop offshore wind projects. PGE Polska Grupa Energetyczna, Enea and Tauron Polska Energia have signed a letter of intent to create a joint company for the purpose of developing wind projects in the Polish Exclusive Economic Zone of the Baltic ... read more NewsPublished on 19.01.2021By Sam Chambers
  • 37% of all boxes are rolled over
    More than one in three containers worldwide are being rolled over, amid an unprecedented supply chain challenge hitting the liner community. Ocean Insights’ latest cargo delay statistics published today show how the container bull run is wreaking havoc on the market, with surging rollover rates across major ports during December ... read more NewsPublished on 19.01.2021By Sam Chambers
  • Singapore to vaccinate over 10,000 frontline maritime workers by end of month
    Singapore will deliver Covid-19 vaccinations to over 10,000 maritime personnel by the end of January under its Sea – Air Vaccination Exercise (SAVE). The exercise is part of the country’s national Covid-19 vaccination strategy to protect frontline personnel and their family members, as well as residents living in Singapore. These frontline ... read more NewsPublished on 19.01.2021By Jason Jiang
  • Seven capes change hands in opening days of 2021
    Cape sales continue to dominate the opening days of 2021. While cape freight rates have cooled slightly this week, they are still in profitable territory, something that was not the case for much of last year. So far this year, seven cape sales have been registered, a brisk start to ... read more NewsPublished on 19.01.2021By Hans Thaulow
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