Freight income for the quarter was MUSD 8.6, up from MUSD 6.4 in Q2 2018 due to improving market fundamentals, offset by 21 offhire days in connection with the 5-year survey and dry-docking of WilForce. Fleet utilisation for the quarter
The University of the South Pacific (USP) and The China Navigation Company (CNCo), parent of Swire Shipping and Swire Bulk, have signed a Memorandum of Understanding (MOU) to conduct feasibility studies for the design costs and plan for new generation
VLCC In the Middle East Gulf, enquiry slowed and rates eased to WS 93.75/94 for 270,000mt to China. Going west, 280,000mt to the US Gulf was fixed three points higher at around WS 43 Cape/Cape. West Africa to China basis
TORM plc (“TORM” Ticker: TRMD) has established a joint venture with ME Production, a leading scrubber manufacturer, and Guangzhou Shipyard International (GSI), which is part of the China State Shipbuilding Corporation group. The joint venture, ME Production China, will manufacture
Philadelphia design firm Sharrow Engineering, LLC announced that the company’s revolutionary propeller design has been awarded patents in the US, Japan, Canada, and European Union with further domestic and international patents pending. Additionally, the final phase of testing on its
ABB and SINTEF Ocean are undertaking groundbreaking research to test the viability of fuel cells as an energy source for main ship propulsion.
The new research project seeks to provide the answers required for fuel cell technology to be delivered at
ShipServ, the world’s leading maritime e-procurement platform, announced the output from its latest research whitepaper; “e-procurement in Maritime; 2021 and Beyond”, which analyses the current and future state of e-procurement within the maritime industry based on insights from leading Chief
VLCC In the Middle East Gulf, healthy enquiry combined with weather delays saw rates firm, with WS 97/100 paid for 270,000mt to China. Going west, 280,000mt to US Gulf was fixed at WS 42 Cape/Cape, up almost 10 points from
SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, strongly supports the decision of the Marine Environment Protection Committee (MEPC) to reaffirm the January 1, 2020 implementation date of
The “2020 Global Marine Fuel Sulphur Content Clause”, which is a general compliance provision, will be put forward for adoption by BIMCO’s Documentary Committee on 13 November. The drafting team has also prepared a first draft of a clause dealing