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.
The end of 2019 promises to be a busy, and potentially discordant, legislative and regulatory period for the United States maritime industry as both Congress and the Executive Branch look to take decisive action, with both positive and negative potential impacts depending on your perspective.
Finance — or at least project economics based on long-term commodity prices — appear to be factors limiting a surge in investments in floating liquefied natural gas (FLNG) a new study by U.S.-based numbers cruncher, World Energy Reports, revealed Monday.Among a growing count of floating producers in the planning stage, some are destined to become FLNG
Every few years I am handed a high-speed container transport proposal. Generally it consists of some type of high speed vessel design that would be able to move containers at high speed and thereby attract a new market by taking a chunk out of the air cargo market and the premium ocean market.
New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.
Farm supplier CHS Inc has dozens of loaded barges trapped on the flood-swollen Mississippi River near St. Louis - about 500 miles from the company's two Minnesota distribution hubs.The barges can't move - or get crucial nutrients to corn farmers for the spring planting season - because river locks on the main U.S. artery for grain and fertilizer have been shuttered for weeks.
The Federal Bureau of Investigation is not taking appropriate steps to review and assess potential maritime terrorism risks facing U.S. sea ports, the Justice Department's internal watchdog has found.The audit, released on Thursday by Inspector General Michael Horowitz, found that while top FBI officials believe the country faces a low maritime terrorism threat
Croatia's largest shipbuilder Uljanik, which is trying to attract investors to stay afloat, extended a due diligence process until late next week after drawing the interest of potential strategic partners.Croatia's Economy Minister Darko Horvat said four potential investors were looking at Uljanik's business data and another company was also interested, but did not elaborate.
BIMCO has developed a monitoring service for bunker prices, with data provided by MABUX, which is now available to all BIMCO members. The new interactive graphs allow price fluctuations in the major bunkering hubs of Singapore and Rotterdam to be tracked. They will show the bunker prices for 380cST HSFO (high sulphur fuel oil) and MGO LS (marine gas oil low sulfur), both in USD per metric ton
Hapag-Lloyd Cruises has announced that from July 2020 its global fleet will no longer burn heavy fuel oil (HFO) and instead run exclusively on marine gas oil with a maximum sulfur content of 0.1 % (LS-MGO)."In doing so, the company will cut the emissions of its fleet of both luxury and expedition ships significantly.
Ørsted A/S, the world’s largest offshore wind power producer, said it sees high potential in the Korean offshore wind power market, intending to build long-term, sustainable relationships with the Korean government and companies.“South Korea is a peninsula surrounded by three seas,” said Park Jung-min, head of the Korean market development at Ørsted Asia Pacific.
The global offshore wind cable market is estimated to grow at CAGR above 16% over the forecast time frame 2019 to 2026 and reach the market value around $3 billion by 2026.The demand for offshore wind cables has seen significant development due to the paradigm shift towards fresh renewable techniques with increasing consciousness of carbon emission limits