ShippingWatch

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Christiania Shipping ready to expand fleet following first profit

Costs have been cut to the bone at Christiania Shipping, and with the first operating profit secured, the next step for the former Herning Shipping is to renew its fleet and maybe participate in consolidations. CEO Axel Eitzen expects black figures on the bottom line for this year as well, he tells ShippingWatch.

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An offshore vessel costs less than half a million USD

The value of offshore vessels has dropped considerably following the collapse of the oil price nearly five years ago. An older ship now costs less than USD 0.5 million, while the crisis has also kept newbuild prices in check, shows an evaluation by Vessels Value.

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Efforts to salvage Thorco's wreck begin

Six crew members died in 2015 when a Thorco vessel collided with a chemical tanker and sank. Singapore authorities have now cordoned off the area so the wreck can be salvaged.

Gulf of Oman tanker attack could spike rates

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Last week's attack on two tanker vessels in the Gulf of Oman could cause tanker rates to spike significantly in the region, estimates analyst firm Platts. The increased risk could also cause an increase in insurance premiums.

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DFDS launches significant growth plan

DFDS presents four new strategic and financial targets aimed at growing the company's operating profit over the next five years. A third of growth should come from acquisitions. Read the main points here.

Many tanker carriers have ships heading to the Gulf of Oman

Several tanker companies have ships headed for the Gulf of Oman and during the next few days they will decide whether to continue doing business in the region. There are concurrent reports of high day rates, the head of a larger tanker pool tells ShippingWatch.

Tankers may sail on ammonia from 2030

According to a study, ammonia is a viable fuel alternative in shipping's climate change mitigation efforts. From 2030, tankers may be able to sail on the ammonia they transport themselves, the company behind the report tells ShippingWatch.

Commodity trader boycotts scrubbers

US-based commodity trader Hudson Shipping Lines will not use vessels with scrubbers installed once the new sulfur regulations enter force from January.

DSME to develop digital ships through partnership

South Korean shipbuilding yard DSME is part of a new partnership to develop digital ships, which are virtual copies of original ships. The copies can be used to predict performance and monitor operations onboard.

Frontline hesitant to send more ships to the Gulf of Oman

Frontline is exercising "extreme caution" when it comes to sending more ships through the Gulf of Oman following last week's attack on two tanker vessels. Both vessels are now in the United Arab Emirates, while Frontline's crew is in Dubai.

US says video shows Iran was involved in an attack on tanker

US officials have released a video they say show Iran was involved in an attack on an oil tanker near the entrance to the Persian Gulf on Thursday, one of a pair of incidents that have raised tensions between the US and the Islamic Republic over the past day. Watch the video here.

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