Germany, one of the world’s main maritime players, saw its commercial fleet shrink by a third over the past six years, becoming the biggest loser in a vicious industry slump that has reshaped global shipping. Once the world’s predominant shipping lenders, most German banks have abandoned ship...
https://www.hellenicshippingnews.com/germanys-commercial-shipping-fleet-shrinks-by-a-third/
Tighter global shipping pollution regulations from 2020 will lead to a temporary surge in oil demand while denting the oil revenues of producers of heavy or high sulfur crudes, OPEC said in its annual long-term oil forecast Sunday. The International Maritime Organization’s global marine fuels...
Klaveness Combination Carriers AS (“KCC” or the “Company”), the leading owner and operator of modern combination carriers, announces the successful closing of the private placement of common shares as announced on 10 September 2018. The Company will issue 8,241,750 common shares at a subscription...
Ship recycling yards approved by the EU will have enough capacity to handle demand from EU-flagged ships that need to be scrapped, a new analysis shows. The shipping industry wants low-cost ship ‘breaking’ yards outside the EU – with dangerous working conditions and poor environmental standards –...
Bunker fuel premiums in Fujairah dropped last week after hitting a record high mid-September as supply tightness had eased a little, however, current levels were still high compared to the first half of the year, S&P Global Platts data showed. Some market sources expect the premiums to hover around...
Lloyd’s Register certified marine risk assessor and maritime software developer, Prevention at Sea, has recently signed two Memorandums of Understanding (MOUs). The first one has been signed with SQLearn, a leading e-Learning company that provides technological training solutions, and the two...
https://www.hellenicshippingnews.com/prevention-at-sea-signs-two-mous/
The International Maritime Organization (IMO) is expecting “by far” the majority of the world’s fleet to comply with its tighter sulfur emission standards in 2020, according to the UN body’s head of air pollution and energy efficiency. The IMO’s global sulfur limit for marine fuels is set to drop...
The ongoing weakness in Turkish economy and corresponding depreciation in Lira is making the country’s imports expensive. From the beginning of the second quarter, the Lira has depreciated by more than 50% against the US dollar and in addition, Turkey is also facing a trade tussle with the US. So...
VLCC Rates for 270,000mt, from the Middle East Gulf to both China and Singapore, were marginally firmer at WS 56.5/57.5, and a US Gulf-bound cargo to the US Gulf done at WS 20 Cape/Cape, but now assessed at WS 21.5. West Africa to China gained two points to WS 57, basis 260,00mt, US Gulf to …
https://www.hellenicshippingnews.com/tanker-market-vlccs-looking-for-new-direction/
Capesize A mixed week for the big ships with unfulfilled expectations. Rates on the West Australia/China route failed to hold and dropped to $7.20 for 7-9 October, with timecharter rates shy of the mid $15,000s, and this despite all the miners in the market. South Africa saw some fresh business in...
https://www.hellenicshippingnews.com/dry-bulk-market-capesize-market-had-a-mixed-week/