The final quarter of 2019 marked a massive decline of high-sulphur fuel oil (HSFO) sales, as the industry transitioned into compliance of the International Maritime Organization's (IMO) 2020 Sulphur Cap (IMO 2020). In Singapore, the world’s largest bunkering hub, the bunker sale landscape saw significant change as the sale of high-sulphur fuel oil dropped tremendously in a matter of months.
South Korean shipbuilders are expected to maintain their status as the world’s top position in new orders this year, although they may fail to meet their annual order targets.South Korean shipbuilders have secured new orders totaling 7.12 million compensated gross tons to build a total of 168 ships through November, accounting for 36 percent of the total deals placed around the globe
The global autonomous ships industry is expected to generate $134.9 billion by 2030, witnessing a CAGR of 4.4% from 2020 to 2030.This projection is premised on an increase in demand for cargo transportation from marines and surge in operational safety of ships drive the growth of the global autonomous ships industry, according to a report published by Allied Market Research.
The International Maritime Organization (IMO) on Friday agreed stricter energy efficiency targets for certain types of ships in an effort to speed up action to cut the sector's emissions.The IMO's Marine Environment Protection Committee has been meeting in London this week to discuss tougher rules on sulphur emissions and other measures towards meeting a long-term goal of cutting greenhouse gas
The state-run Qatar Petroleum (QP) has revealed plans to order 60 new LNG carriers preferably from South Korean shipyards. Qatar's energy minister, Saad Sherida Al-Kaabi, who is also CEO of Qatar Petroleum, said the company plans to order 60 new LNG carriers.QP has sent invitations to tender reserve shipbuilding capacity for LNG carriers to major shipbuilders across the world, including HHI
Niagara Falls tour operator Maid of the Mist orders two new passenger vessels sailing on pure electric power, enabled by ABB’s technologyVisitors to the iconic Niagara Falls will soon be able to experience one of the USA’s top landmarks emission-free. Two new Maid of the Mist passenger vessels will be powered entirely by high-capacity battery packs
U.S. presidential candidate Elizabeth Warren said she would ban all fossil fuel extraction on federal land and in coastal waters, setting herself apart from a crowded field of Democratic hopefuls who have made climate change a central campaign issue but have yet to outline specific policies.
The world's largest heavy lift and pipelay vessel, Pioneering Spirit, will take a temporary pause from Nord Stream 2 pipelaying activities in the Swedish Exclusive Economic Zone to perform planned platform lift work in the North Sea.The Allseas-owned vessel, which in 2018 installed the 22,000 t drilling platform topsides for Equinor’s Johan Sverdrup development on the Norwegian continental shelf
Tim Protheroe, with more than 40 years of industry experience, was tapped to head North American activities for Bureau Veritas Marine & OffshoreProtheroe was officially named Regional Chief Executive, Marine & Offshore, North America, providing leadership in the United States and Canada.
Singaporean conglomerate Keppel Corp posted improved results for the fourth quarter, helped by narrower losses in its offshore and marine division, and said it was seeing signs of recovery in the rig industry.The company on Thursday reported a net profit of S$135 million ($99.2 million) for the quarter ended December, compared with a net loss of S$492 million a year earlier
The Ports of Los Angeles and Long Beach on Wednesday said they set all-time records for moving cargo in 2018, after U.S. retailers and manufacturers pulled forward imports to avoid higher tariffs on Chinese goods.The Port of Los Angeles, North America's busiest container port, handled 9.46 million 20-foot equivalent units (TEUs) last year, the most in its 111-year history and 1.
South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) has clinched a $366 million order to build four units of very large crude carriers (VLCCs) from an unidentified shipper in the Oceanian region.According to a regulatory filing, the four tanker vessels which will be delivered in 2021. This marks the second large VLCC order in under a month.