Seven months after the United Nations' shipping agency brought in hotly anticipated new rules to curb emissions, the raft of technical issues and leap in fuel prices that were expected to result have failed to materialize, ING Bank said on Tuesday.Global shipping and oil firms had flagged major concerns over potential disruptions from International Maritime Organization (IMO) rules implemented
A group of partners in Europe aims to use battery containers on board barges to supply environmentally friendly fully-electric propulsion in lieu of diesel for inland waterway shipping.Supported by the Dutch Ministry of Infrastructure and Water Management, the concept is being spearheaded by the Zero Emission Services B.V.
The sulfur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the center stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.The outlook for global economic growth remains bleak as the world is faced with the largest recession since the Great
Norway's biggest ferry company has ordered two new ferries from Havyard Design & Solutions, the first to use Havyard LAB's new three-step tool to become safer and more environmentally friendly. Havyard LAB offers a new three-step ship design tool that incorporates a vessel’s digital twin situated in simulated local conditions
Sovcomflot, a Russian oil and gas shipping company, has taken delivery of SCF Barents, a new 174,000-cbm LNG carrier.The vessel was delivered Monday and has already started its maiden voyage under a long-term time charter agreement with Shell.According to Sovcomflot, the LNG carrier was named after Willem Barents, a prominent Dutch navigator and explorer.
A team led by ABS has been awarded a contract by the European Commission (EC) to explore future directions for the IMO’s Energy Efficiency Design Index (EEDI) for ships.The landmark study will look at ways to improve and accelerate the integration of low-carbon fuels and innovative technologies into the requirements of the index
The specter of liability beyond the limits of applicable insurance for the salvor’s liability to both its contractual partner and third parties continues to haunt the American Salvage Association’s members. Hence, the efforts since 2011 to obtain broad based immunity from claims beyond the patch work of statute, judge made law and contractual risk shifting terms.
The U.S. navy said on Thursday it had sailed a guided-missile destroyer through the sensitive Taiwan Strait, a week before Taiwan President Tsai Ing-wen’s inauguration for a second term in office amid rising tension with China.China, which considers Taiwan its territory, has been angered by the Trump administration’s strong support for the island, such as increased arms sales.
Denmark-based product tanker company TORM has obtained a commitment for a total of USD 496 million from a syndicate of lenders to refinance its debt and bolster its capital structure.The carrier of refined oil products said the total amount is a combination of two separate term facilities and a revolving credit facility
Taiwan reported 22 new coronavirus cases on Sunday, almost all of them sailors who were on a navy visit to the small Pacific islands state of Palau, which said there was “little chance” it was the source of the infection.Taiwan’s government on Sunday said 700 navy personnel were being quarantined and tested and there were 24 positive cases altogether.
With the signing by the France-based international lender to global shipping BNP Paribas and the Swiss multinational investment bank Credit Suisse, Signatories of the Poseidon Principles represent around $140 billion in loans to international shipping – about 30% of the total global ship finance portfolio.
Six months after the offshore installation vessel Voltaire, Jan De Nul Group orders Les Alizés, a floating installation crane vessel from the CMHI Haimen shipyard in China.Together with the Voltaire, this new vessel will be in a super-size class of its own, capable of building the newest generation of offshore wind farms.