World Tanker Market Sees Possible Rate Hikes

  • Fledgling demand will have a major impact on total volumes needed, while global oil and petrochemical production is expected to increase slightly.
  • The current roller-coaster situation in oil, gas and commodities in general, is putting pressure on the maritime sectors overall.
  • The analysis shows that in absence of large changes in current policies, it is still too early to expect a rapid decline in oil demand.
  • At the same time, demand for oil products (petrochemicals, fuels), more than 6...;amp;

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...;amp;

Shipbuilders Focus More On Design To Achieve Better Efficiency

  • The IMO 2020 regulations, along with the promise of further mandates down the line, are pushing ship designs forward.
  • With the IMO 2020 regulations now in place and future regulations in the pipeline, shipbuilders and ship purchasers alike are planning ahead for a future.
  • Reducing the environmental impact of shipping is urgent: according to the Clean Shipping Coalition, a global environmental coalition exclusively dedicated to shipping.
  •  It is imperative that ship owners in particular take...;amp;

Weekly Tanker Report – Week 43, 2020

The Baltic Briefing has issued the tanker report for the 43rdweek of this year. The report dated 23rdOctober 2020 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.


Rates were flat this week on most of the routes in this sector. 

  • 280,000mt to USG via the Cape/Cape routing remains assessed at a shade above WS17.
  • 270,000mt to China remains steadfast at around WS29 level. 
  • In the Atlantic, rates for 260,000mt West Africa to China remain...;amp;

IMO Regulations Updated in Maritime Air Pollution Virtual Conference

  • Shipping experts updated the industry on upcoming IMO and regional emissions regulations at Riviera’s Maritime Air Pollution, Europe, virtual conference.
  • Panellists said shipping will need to invest in technology to reduce carbon intensity as well as adopt alternative fuels to meet IMO’s ambitious environmental goals.
  • IMO wants to reduce carbon intensity by 70% and greenhouse gas emissions by 50% from 2008 levels by 2050.

Martyn Wingrove writes about lowering carbon intensity and adding...;amp;

IMO Virtual Meet Decides on 100% Decarbonisation After 2050

  • The International Chamber of Shipping (ICS) welcomes the comprehensive package of additional CO2 reduction measures for the existing global fleet.
  • It agreed by an overwhelming number of governments from across the world after an intensive week-long virtual meeting at the UN International Maritime Organization (IMO).
  • The agreement includes legally binding measures to ensure a 40% reduction of carbon intensity across the global fleet by 2030, compared to 2008.
  • And it is a key stepping stone in...;amp;

2 Pilots and An Officer Will Receive IMO Award for Bravery

  • Two Brazilian pilots will receive the 2020 IMO Award for Exceptional Bravery at Sea.
  • They averted an environmental disaster and an officer from the Philippines who ensured the survival of fellow passengers from a sinking vessel while off-duty.
  • The annual award provides international recognition for those who, at the risk of losing their own life, perform acts of exceptional bravery to save life at sea.
  • Such acts of bravery may also involve extraordinary skills in very difficult conditions or...;amp;

IMO To Ensure Vessels Cybersecurity Compliant From 2021

  • Starting January 2021, the International Maritime Organization (IMO) requires vessels to be cybersecurity compliant in international waters and everywhere they go in the world.
  • Flag states will ultimately be in charge of putting in place regulations for their country or flag state and will be enforcing those regulations on their inspections of the vessels.
  • This opens up new business opportunities globally for cybersecurity companies to cooperate with known providers in the marine industry.
  • And...;amp;

Eastern Pacific Inks 15-year VLEC Charter Deal

Singapore based Eastern Pacific Shipping wins dual fuelled ethane carrier deal as US-China trades rise, reports Lloyd’s List.

Ethane carrier deal

EASTERN Pacific, the Singapore-based shipmanagement company won a bid to build and operate four VLECs.

The company will build and operate four 98,000 cu m very large ethane carriers for a Chinese petrochemical company that is about to start shipping regular cargoes of the refrigerated gas from the US Gulf.

China’s export dominance 

The 15-year deal with...;amp;

Captain of Cargo Ship Arrested for Collision

  • Greek authorities on Wednesday arrested the captain of a Portuguese-flagged cargo ship that collided with a Greek navy minehunter outside the country’s main port of Piraeus.
  • The captain of the container vessel was arrested for alleged violations of the Greek penal code and of the International Regulations for the Prevention of Collisions at Sea.
  • The Kallisto, a British-built vessel capable of sweeping and hunting mines, was cut in two in Tuesday’s collision, with much of its stern severed.
  • Two...;amp;