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’.
Red Sea attacks’ on ships potential impact on oil and gas shipping
LONDON : Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world’s main East-West trade route, following attacks launched by Yemen’s Houthi group on commercial ships at
Bernhard Schulte orders its first CO2 tanker
HAMBURG : Bernhard Schulte expands its fleet portfolio and announced the order of its first CO2 tanker. The newbuilding will be constructed at Dalian Shipbuilding Offshore (DSOC) and will feature innovative technologies significantly reducing its
MariApps signs a massive deal with state owned Kuwait Oil Tankers Company (KOTC)
SINGAPORE : MariApps Marine Solutions (MariApps), with expertise in maritime digital solutions for maritime organizations, announced an agreement that will enhance the digitalization of Kuwait Oil Tankers’ Company (KOTC) fleet operations. Kuwait Oil Tanker