Danish Ship Finance’s Shipping Market Review 2020

Danish Ship Finance has released its latest shipping market review. The 69-slide presentation, led by Christopher Rex, has a strong focus on the industry’s pathway to zero carbon vessels, says an article of Splash247.

On the markets, the Danish analysts are especially bearish on next year’s prospects for tankers and LPG carriers, and remain concerned for the livelihoods of many of today’s struggling shipyards.

Facts in Report

Key data in the report include the facts that average secondhand prices...


PTE Ltd Orders Three New LPG Carriers For Construction

Petredec Holdings (Eastern) PTE Ltd has announced the signing of a contract for the construction of 3+3 × 93,000 cbm LPG carriers at Jiangnan Shipyard in China, says a press release issued by MAN.

Each vessel will be powered by individual MAN B&W 6G60ME-LGIP dual-fuel engines, capable of running on LPG.

The forefront of new technology

Philip Harwood, Petredec Fleet Director, added: 

“Petredec has always been at the forefront of new technology and this order continues our tradition of investing in...


ME-LGIP Engine Lands Further Orders

ME-LGIP Engine Lands Further OrdersPetredec signs contract for three LPG-powered engines for newbuild VLGCs; option for three more

Copenhagen, 19.11.2020   Petredec Holdings (Eastern) PTE Ltd has announced the signing of a contract for the construction of 3+3 × 93,000 cbm LPG carriers at Jiangnan Shipyard in China. Each vessel will be powered by individual MAN B&W 6G60ME-LGIP dual-fuel engines, capable of running on LPG.

Philip Harwood, Petredec Fleet Director, added: “Petredec has always been...


World’s First LPG Dual-Fuel Engine Vessel To Join The Fleet

In a press release by MAN Energy Solutions, MAN PrimeServ, MAN Energy Solutions’ after-sales division, has announced the successful conversion of the main engine aboard the LPG carrier, ‘BW Gemini’, from a MAN B&W 6G60ME-C9.2 type to a MAN B&W 6G60ME- LGIP dual-fuel type capable of operating on fuel oil and LPG. The BW Gemini is part of the fleet of Oslo-listed BW LPG – the world’s leading owner and operator of LPG vessels.

The successful conversion – and the start of gas and sea trials – will...


World LPG Association receives GREEN4SEA Initiative Award

SAFETY4SEA is pleased to announce that World LPG Association (WLPGA) has received the 2020 GREEN4SEA Initiative Award, sponsored by DORIAN LPG MANAGEMENT CORP, at a prestigious award ceremony which successfully concluded on March 3rd at Yacht Club of Greece in Athens, the evening ahead of the 2020 GREEN4SEA Athens Forum.

WLPGA received the award for adding value to the maritime industry by addressing the benefits of using LPG as a marine fuel. The latest report by WLPGA offers guidance for LPG...


VesselsValue: Quarterly forecast for cargo ships

Amid an ongoing trade war between China and the US, as well as major geopolitical tensions globally, it is likely that total ordering activity will be softer near term, representing a downside risk to the positive development of newbuilding prices, according to VesselsValue.

Following increased combined total ordering activity (bulker, tanker, container, gas) in the first half of 2018, the pace slowed down.

While the sentiment is positive and ship prices are seen moving upwards in the forecast,...


First LPG cargo from Ichthys LNG project arrives in Japan

K Line’s large gas carrier ‘Grace River’ has carried and discharged Ichthys LNG Project’s first LPG cargo carried to Japan, according to the company’s statement. The cargo was imported by Astomos Energy Corporation at Kyushu L.P.G. Fukushima Terminal, on January 23.

Specifically, Ichthys LNG Project is the first large-scale LNG project by global standards operated by INPEX CORPORATION.



It is expected to produce approximately 8.9 million tons of LNG and...


VesselsValue: Which ship types dominate buying opportunities in 2019

Containers and LPG tankers are expected to be the market winners for the coming year, although the overall outlook for shipping asset prices remains bright, VesselsValue said in its latest forecast on shipping market for Q1 2019 to Q1 2020, presenting some of the reasons why it believes some ships are more likely to appreciate.

Container ships

  • Container ships have dominated the buying opportunities over the past several quarters, and many have taken advantage of this trend to make carefully...


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