A Chinese bunker firm is now the biggest supplier of ship fuel in Singapore, shows a new list. Maersk company seems to have solidified top-ten ranking.
Several of the world's biggest commodity traders and fossil supermajors made record profits 2019 by playing clever hands in an unstable energy market year characterized by supply problems, Middle East conflicts, sanctions as well as maritime enterprises scurrying to prepare for the IMO2020 sulfur rules taking effect on Jan. 1.
A new preliminary study links the new low-sulfur fuels, which most of the commercial fleet now sails on, to black carbon. Environmental organizations call for answers and action from the IMO and oil companies.
The container shipping lines have not been able to push the costs of the new sulfur regulations on to customers in January. At least not when looking at backhaul voyages, notes analyst firm Sea-Intelligence.
Battery producer Corvus Energy expects to have hybrid solutions ready for deep-sea vessels within two or three years, says CEO Geir Bjørkeli in an interview with ShippingWatch.
Swedish supplier Alfa Laval is the latest member of the Getting to Zero Coalition, which aims to develop CO2-neutral vessels before 2030.
Veritas Petroleum Service, which tests fuel, has issued seven warnings in just one month about excessive sediments in new fuels with 0.5 percent sulfur.
Keppel Offshore & Marine exits 2019 with a significantly better result on the bottom line. A tax gain pushed the company to its first net profit since 2016.
Norway's oil major wants to develop an ammonia-fueled offshore vessel in collaboration with Eidesvik Offshore.
Scan Global Logistics has raised more than EUR 200 million in fresh capital, and the figure could be increased further. The capital will help boost the company's global presence, says CEO Allan Melgaard.
Tanker shipping company Torm expands its fleet with two large product tanker newbuilds, which will be fitted with scrubbers. Meanwhile, the shipping company sells a smaller vessel.
Wednesday, a Danish court released two rigs at the center of a dispute between shipyard MARS and US investor Tom Clarke. ShippingWatch reported earlier in January that the parties had settled the dispute.
Bunker supplier Monjasa has no five-year plan lying ready in its desk drawers. Instead, customers determine where future growth will come from, COO says, adding that customers have started placing even higher demands on bunker traders.
Private equity fund Altor wants to reap the last rewards from many years of acquisitions and investments in Wrist before the fund approaches its heralded sale of the company. Among other things, challenging integration of a major acquisition has affected sales plans, Altor partner says.
Bunker One, a physical supplier under Bunker Holding, has bought a stake in a US-based supplier headquartered in Houston. The deal gives Bunker One exclusive access to the supplier's low-sulfur fuel oil.
A Croatian industrial group has agreed with ferry operator Hurtigruten to acquire yard Kleven Verft. This happens shortly after the yard's CFO told Norwegian media that the company was about to get a new owner.
According to Dagens Næringsliv, Norwegian shipyard Kleven is close to getting a new owner. An announcement could come within the very near future, CFO tells the newspaper.
The supply of low-sulfur oil is increasing rapidly, and the key hubs in the global shipping sector now have sufficient low-sulfur fuel oil, according to a report from the International Energy Agency.
The world's second-largest economy grew by just 6.1 percent in 2019. This growth falls in line with expectations.
Man Energy Solutions and a South Korean yard are two of several partners in a new project aiming to design a tanker that can sail on ammonia.
In collaboration with companies like Maersk, BMW will develop a new ship fuel based on a mix between ethanol and lignin. The automaker, which has just joined a coalition for CO2-free ships, is open to entering more similar trials, the company says in an interview with ShippingWatch.
A shipbreaking facility in Bangladesh now again receives documentation that it complies with the Hong Kong Convention. The yard has already been certified, but now it also gets a certification from bureau Class NK.
Commodity trader Trafigura emitted 26 percent more in 2019 than the preceding year. The maritime business is the largest polluter, the company's sustainability report shows.
Singapore, the world's largest bunker port, experienced the lowest marine fuel sales in 2019 since 2015, show figures from the country's port authority.
In the first two weeks of 2020, Monjasa has delivered twice as many tons as in the same period last year. The reason is the new sulfur regulations, says COO, who also outlines some of the challenges that have already emerged in relation to the new fuels.
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