Bahri Line expands fleet with a new Multi-Purpose Vessel
RIYADH : Bahri Line has continued its venture into the niche multipurpose sector with the addition of an MPP to its fleet. The company said it has added
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
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
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
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
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
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
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.
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
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