ClassNK awards first-ever notation to Fuyo Kaiun’s bulk carrier “ELETTRA”
TOKYO : ClassNK has granted its “ELW” (Excellent Living and Working Environment) notation to “ELETTRA”, a bulk carrier owned by Fuyo Kaiun Co.,Ltd. The vessel becomes the first in ClassNK registry to have the
Drewry: Multipurpose Time Charter Index moving higher
LONDON : The Drewry Multipurpose Time Charter Index tracks one-year period charter rates across a basket of vessel types and sizes and forecasts the market movement over the coming month. The vessel types include
Crude tanker newbuild contracting jumps 490% as VLCC orders gain pace : BIMCO
LONDON : “In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y, due to a rise in orders for very large crude carriers –
BIMCO : Tanker Market strengthens despite slowing oil demand growth
LONDON : Supply/demand balance For crude tankers, we forecast that the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing distances, create the foundation for the
Chemfleet adds three ships to Berg energy efficiency upgrade after verifying 10% fuel savings
ISTANBUL : Specialized ship manager Chemfleet has confirmed that an in-service Berg Propulsion upgrade to control systems onboard the tanker YM Miranda has yielded fuel savings of around 10%. Trials following the installation of Berg MPC800M
Product tanker recycling drops 82% year-on-year to lowest on record
LONDON : “In 2023, only seven product tankers with combined deadweight tonnes (DWT) capacity of 265,000 were recycled. This was a year-on-year drop of 82% compared to 1.5 million DWT (27 product tankers) recycled
COSCO Shipping Energy invests $449M in methanol dual-fuel tankers
SHANGHAI : COSCO Shipping Energy Transportation, has recently finalized significant shipbuilding agreements, securing contracts for the construction of six new tankers valued at a total of $449 million. As informed, this move represents a
Asia Break Bulk and CSL Shipping sign Strategic Partnership
HAMBURG : COLI Group’s subsidiary Asia Break Bulk (Singapore) has entered a Strategic Partnership with CSL Shipping (China). CSL & ABB will work closely together to market CSL’s multipurpose carrier ‘Jian Yang Hua Qing’.