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Tankers: VLCC Market Softening


A busier week in the Middle East Gulf led to a slight softening of rates overall. Following an initial and partial recovery, 270,000mt to China had been peaking at WS90, before settling in the very low WS80s. 280,000mt to

IBIA: IMO 2020 preparations pay off


IBIA met with several large globally operating shipping and bunkering companies during a visit to Copenhagen in mid-January, who were all reporting a surprisingly smooth transition to the 0.50% sulphur limit for marine fuels which came into force on 1

The world’s first carbon-free ammonia-fuelled supply vessel on the drawing board


Equinor has signed an agreement with Eidesvik Offshore for the modification of the Viking Energy supply vessel, to make it capable of covering long distances fuelled by carbon-free ammonia. The vessel will transport supplies to installations on the Norwegian continental

U.S. crude oil production efficiency continues year-over-year improvements


U.S. oil production from tight formations increased in 2019, accounting for 64% of total U.S. crude oil production. This share grew because of the increasing productivity of new wells that were brought online during 2019. Since 2007, the average first

New Ship Fuel Rule Could have Negative Health and Climate Impacts


A new regulation introduced on January 1, 2020, by the International Maritime Organization (IMO) that limits sulphur in fuel oil used on board ships could significantly increase harmful black carbon (BC) emissions if blended fuels are used, according to a

Major project to convert offshore vessel to run on ammonia-powered fuel cell


A maritime innovation project looking to install the world's first ammonia-powered fuel cell on a vessel has been awarded €10m funding from the European Union.

The ShipFC project is being run by a consortium of 14 European companies and institutions, co-ordinated

EIA expects U.S. net natural gas exports to almost double by 2021


In its Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA) forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 billion cubic feet per day (Bcf/d) in 2020 (2.0

BNP Paribas and Credit Suisse join leading global shipping banks in support of UN climate targets


The world’s largest lender to global shipping, BNP Paribas, and leading wealth manager, Credit Suisse, become the 15th and 16th financial institutions to sign on to the Poseidon Principles.

The Poseidon Principles are the world’s first sector-specific, self-governing climate alignment agreement

BunkerTrace secures first commercial partnership with Marfin Management S.A.M to increase transparency for its fleet’s b


BunkerTrace, owners of the marine fuels tracking solution, yesterday announced its first commercial partner, ship manager Marfin Management S.A.M. The Monaco-based family firm will use BunkerTrace to track marine fuel, using synthetic DNA markers at specific points of the supply

Paris MOU and Tokyo MOU Urge Strict Implementation of Rules on the carriage of non-compliant fuel


The Tokyo and Paris Memoranda of Understanding (MoUs) on port State control (PSC) have been working collaboratively to ensure that vessel owners and operators are aware that under the Authorities belonging to these MoUs, inspections will be undertaken to ensure

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