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UECC and GoodFuels kickstart three month biofuel trial

06/03/2020

Leading short sea ro-ro operator UECC and sustainable marine biofuel pioneer GoodFuels have launched a joint trial of GoodFuels Bio-Fuel Oil (MR1-100 or BFO) on UECC’s ro-ro vessel M/V Autosky, the companies have announced today.

The three month trial will test

Legal Costs Cover and IMO 2020

06/03/2020

Members will be aware, that from 1 January 2020, the MARPOL permitted limits for sulphur content in vessels’ bunker fuel were reduced from 3.50% mass by mass (m/m) to 0.50% m/m for vessels operating outside designated Emission Control Areas (‘Global

ABS Leads Consortium to Deliver EU-Funded Study on EEDI’s Future

05/03/2020

A consortium led by ABS has been granted EU funding for a study on the future of the Ship Energy Efficiency Design Index (EEDI).

ABS, Vessel Performance Solutions (VPS), and Arcsilea Ltd formed a consortium to deliver the study, titled: Decarbonisation

Less petroleum and other liquids consumed in the U.S. is coming from refineries

05/03/2020

The U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook (STEO) forecasts that in 2021, U.S. consumption (as measured by product supplied) of total petroleum and other liquid fuels will average 20.71 million barrels per day (b/d), surpassing the 2007

International Seaways Expects Tanker Fundamentals To Remain Positive And Supportive Of A Strengthening Market Once The V

04/03/2020

International Seaways, Inc., one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today reported results for the fourth quarter and full year 2019.

Highlights

Net income for the

U.S. natural gas consumption sets new record in 2019

04/03/2020

U.S. natural gas consumption increased by 3% in 2019, reaching a record of 85.0 billion cubic feet per day (Bcf/d), according to the U.S. Energy Information Administration’s (EIA) recently released Natural Gas Monthly. New natural gas-fired electric capacity and lower

Wärtsilä and partners to pursue greater fuel efficiency in major EU-funded project

03/03/2020

The technology group Wärtsilä, together with a consortium of six other industry and academic partners, has been awarded EU funding for a major project aimed at reducing fuel consumption and lowering emission levels for shipping.

The SeaTech project consortium has been

U.S. crude oil production grew 11% in 2019, surpassing 12 million barrels per day

03/03/2020

Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels. The 2019 growth rate was down from a 17% growth rate in 2018.

Slight Gains for the VLCC Segment

02/03/2020

VLCC
Despite the concerns and uncertainties linked to the Coronavirus outbreak, the Middle East market made some slight gains as cargoes in the first half of March had fewer competing owners. Rates for 270,000mt to China rose five points to

Shipowners and operators could face detention of ships from 1st March under IMO rule

02/03/2020

Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that contains a sulphur content higher than 0.5 percent unless the ship has an Exhaust Gas

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