In principle, Anglo-Eastern CEO Bjørn Højgaard is not against scrubbers as one of the means to comply with the sulfur cap from Jan. 1, 2020. But he is convinced that daily operations and maintenance can be very costly, he says in an interview with ShippingWatch.
South Korean shipbuilder Samsung Heavy Industries is to build 10 crude tanker vessels. The order was placed by an "Oceanian" customer and amounts to more than half a billion USD.
Corvus Energy, which supplies batteries for ships, among other things, has just received a "major investment" from Shell Ventures. The investment will expand the supplier's presence.
UK-based BP Marine adds the second-largest port in the Mediterranean to the list of ports where the company will sell low-sulfur fuel once the new IMO regulations come into force.
Singapore-based engineering group Sembcorp Marine finished the first half of 2019 with a declining revenue, although its net deficit was reduced. The group remains plagued by a highly competitive market, which still holds little prospect for a lasting recovery.
South Korean shipbuilder HHI, which is in the process of merging with DSME, has increased its revenue approaching the merger. This is in spite of the large shipbuilding industry having been under pressure for a while.
A legal battle between EnscoRowan has led to a massive second quarter deficit for Samsung Heavy Industries, which continues to lose money from its core business. Rivals DSME and HHI are currently working to merge into one company.
The first fiscal year following Neon's remarkable foray into European marine insurance with the launch of Orca resulted in a large deficit. But the loss does not worry management, and the British owner is ready with more money if the need arises.
This week especially held stories involving the Strait of Hormuz, and most recently, the Danish government has declared its readiness to participate in a naval mission. Moreover, an investor has lost patience with a Danish shipbreaking yard, and logistics company Kuehne+Nagel said no to seafreight acquisitions.
A US investor has lost patience with the Modern American Recycling Services shipyard in Frederikshavn, Denmark. Now he wants the money used for purchasing two obsolete rigs returned. MARS denies allegations.
World Fuel Services joins the list of bunker companies to expand their credit facilities ahead of the increased fuel bill IMO's sulfur requirements are expected to cause from 2020.
BP has entered a joint venture partnership with Brazilian agricultural producer Bunge aimed at boosting the former's biofuel business nearly 50 percent.
Dry bulk shipowners' association Intercargo expresses concerns six months ahead of the new sulfur regulations entering force. Limited access to fuels complying with the new requirements delay practical tests aboard, claims Intercargo.
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