Month: September 2019

What Impact Does Shipping Fuel Shift Exert on the Global Oil Market?

A United Nations mandate on the shipping industry to remove up to 85% of the sulfur content from its fuel to cut 3% of global carbon dioxide emissions could throw the industry into massive disruption.

Some analysts argue it could lead to fuel supply and demand imbalances and arbitrage opportunities that could extend crude oil price volatility, reports Forbes.

Aftermath of the financial crisis

“The industry is still in a financial tailspin since the financial crisis, but the technology is ready...

http://mfame.guru/what-impact-does-shipping-fuel-shift-exert-on-the-global-oil-market/

PSA completes Penn Terminals takeover as it looks to boost perishables business

Singapore box terminal operator PSA has formally entered the US market after completing its purchase of Philadelphia multipurpose operator Penn Terminals from Australian investment fund Macquarie Infrastructure and Real Assets (MIRA).
Completion of the deal followed a decision by US regulators to allow the takeover.
“This acquisition represents PSA’s very first foray into the USA. We are delighted to embrace Penn as the newest member of the global PSA family and to …

The post PSA completes Penn...

https://theloadstar.com/psa-completes-penn-terminals-takeover-as-it-looks-to-boost-perishables-business/

MPC Container Ships expects second-half scrubber boost to charter rates after posting interim loss

An IMO 2020-driven recovery in time charter rates for container tonnage has only recently filtered through to the smallest sized segment according to feeder ship owner MPC Container Ships.
This Oslo-listed shipowner posted second-quarter results revealing a net loss of $4.4m for a total loss of $9.6m in the first six months of the year.
The negative result came from a total revenue of $58m in the first half, earned from MPC’s …

The post MPC Container Ships expects second-half scrubber boost to...

https://theloadstar.com/mpc-container-ships-expects-second-half-scrubber-boost-to-charter-rates-after-posting-interim-loss/

Gibraltar’s sees first LNG bunker supply

Gibraltar saw the first ever LNG bunker supply within British Gibraltar Territorial Waters (BGTW). This took place with the arrival of one of the worlds biggest floating cranes, the Panamanian Semi Submersible Crane Vessel (SSCV) ‘Sleipnir’, owned by Heerema Marine Contractors.

Approximately 3200 Mt of LNG was transferred to the 8 bunker tanks of Sleipnir, which, to date, is the largest LNG bunker supply in Europe, according to Titan LNG.

The SSCV anchored on the western side of Gibraltar on 23...

https://safety4sea.com/gibraltars-sees-first-lng-bunker-supply/

Maersk Decom to manage Thames field decommissioning

Maersk Decom announced that together with Maersk Supply Service, will be project managing the removal, recycling and waste management of subsea infrastructure for Perenco’s Thames field in the UK North Sea.

The project regards the cut and recovery of wellheads and wellhead protection structures, as well as end-to-end recycling and waste management.

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It will also be delivered by an integrated team covering project management, engineering, and execution from...

https://safety4sea.com/maersk-decom-to-manage-thames-field-decommissioning/

The First Images Of The Remains Of The ‘Cannibal Wreck’ Of HMS Terror, One Of The Greatest Mysteries Of The Sea

A team from Parks Canada has obtained the first images of the wreckage, which had not been seen since 1845.

A team of archaeologists at Parks Canada, the state agency that responds to the Ministry of Environment and Climate Change, has conducted an exploration in the depths of the Canadian Arctic in order to find the wrecks of the HMS Terror , one of the lost ships from the expedition of Sir John Franklin in 1845.

According to ‘ National Geographic‘, they made a series of seven dives in which...

https://www.maritimeherald.com/2019/the-first-images-of-the-remains-of-the-cannibal-wreck-of-hms-terror-one-of-the-greatest-mysteries-of-the-sea/

MOL Enters Strategic Partnership With Tosyali, Aiming To Strengthen Business In Turkey

MOL, Tosyalı Holding Sign Memorandum of Agreement, Looking toward Strategic Tie-up

Mitsui O.S.K. Lines, Ltd. (MOL) announced an agreement with Tosyalı Holding A.S. (TOSYALI) to begin the research toward a strategic partnership, and in this respect signed a memorandum of agreement in the presence of H.E. Dr. Hasan Murat Mercan, Turkish Ambassador to Japan, at the Turkish Embassy in Tokyo on August 30.

Image Credit: mol.co.jp

The companies will study the possibility of a partnership in the transport of raw materials and steel products in Tosyalı’s production networks in Turkey...

https://www.marineinsight.com/shipping-news/mol-enters-strategic-partnership-with-tosyali-aiming-to-strengthen-business-in-turkey/

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