Producers of ballast water management systems are counting down to the billion-dollar market which will emerge when the convention comes into force in September this year. "2017 will be better than last year, but the boom will come in 2018," says Optimarin, one of the companies approved by the US Coast Guard.
One of Europe's biggest logistics and forwarding companies, Kuehne+Nagel, will take the container carriers' abilities to go digital into account when signing orders in the future, CEO Detlef Trefzger tells ShippingWatch.
Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries have both delivered large profits in the first quarter. According to local media, the improvement is largely attributed to comprehensive streamlining efforts.
Hege Skryseth, CEO of new company Kongsberg Digital, offers ShippingWatch her predictions for the four biggest trends in digital developments within shipping. "Shipping is still conservative, but the sector is catching up," she says.
It is a fact that unmanned vessels will soon hit the water. VP of Innovation at Rolls-Royce, Oskar Levander, talks to ShippingWatch about his projections for which vessel types will be ready when, and what drives the development.
Already two years from now, the first unmanned offshore vessel will be operational in the North Sea, states Kongsberg Maritime and Automated Ships, interviewed by ShippingWatch about challenges in regulation and insurance.
US shale oil is now being produced at such a rate that it could threaten the stability currently enjoyed by the sector, projects Rystad Energy. One of the major suppliers of offshore rigs, shipbuilder Keppel, does not see a recovery anytime soon.
The three major Japanese container carriers: MOL, NYK Line, and K-Line, which are poised for a merger, all have faith in advancements this year, as indicated in their annual reports published Friday morning.
Gas carrier Exmar went red in the first quarter in the weak LPG market where too many vessels are undermining an otherwise historically strong US gas export. The carrier has also called off negotiations to acquire a Dutch FSRU fleet.