Alfa Laval increases order intake in the first quarter
Scrubber producer Alfa Laval's marine division drove first quarter growth in 2019 and increased order intake for marine equipment by 51 percent.
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Scrubber producer Alfa Laval's marine division drove first quarter growth in 2019 and increased order intake for marine equipment by 51 percent.
The government in South Korea will increase its support for its strained shipbuilders by USD 60 million. The funds will be earmarked for expanding the yards' presence in, among other sectors, the market for LNG vessels, reports Yonhap.
The South Korean government extends its support for cities affected by the decline in the country's shipbuilding industry. Revitalization of the economy is being delayed, says the South Korean industry ministry.
The UK Chamber of Shipping points to a lack of certainty in the debate concerning open-loop scrubbers. Rather, critics seem guided by commercial motivations, says the lobby association.
The US announced Monday that sanctions will be imposed on all countries buying oil from Iran, thus canceling prior exemptions for the eight largest buyers.
After years of waiting, Desmi Ocean Guard has secured a crucial approval of its ballast water system in the US. Lacking the approval has held business back.
Since 2010, the number of bunker suppliers in the Port of Singapore has dropped from 80 to 50 companies, reports industry media Ship & Bunker.
Three companies are joining forces to explore the potential for creating "green" hydrogen which emits less CO2 than traditional hydrogen. This could potentially save 350,000 tons annually, says one of the companies.
Hyundai Heavy Industries, which is on its way to acquiring the other South Korean yard Daewoo, sells its oil business to Saudi Aramco for more than USD 1 billion.
Norwegian classification bureau DNV GL and Singapore-based Keppel have formed a partnership aimed at promoting the use of LNG as fuel for the shipping industry.
Lloyd's Register will work with partners such as Japan's Mitsui to develop the world's first autonomous navigation system for ocean-going ships.
Bunker supplier Aegean, which filed for bankruptcy protection last year, has now completed its restructuring plan and changed its name. The process was executed by the company's new owner, Mercuria Energy Group.
South Korean shipyard Samsung Heavy Industries and Wärtsilä are creating an LNG partnership.
DFDS has placed a large order with supplier Desmi Ocean Guard for ballast water management systems for its fleet. The systems will be installed in the coming years.
The WTO has once again lowered its expectations for global growth. Next week the IMF will present its projections, which the IMF head indicates will also be lower. New customs tariffs between the US and China as well as uncertainty surrounding Brexit are key factors.
ExxonMobil makes multi-billon dollars investment in its refinery fecilities in Singapore to be able to deliver even more low-sulfur fuel, the company informs.
The EU Commission has approved commodity trader's acquisition of Greek bunker company Aegean, which has been under bankruptcy protection under Chapter 11 since November last year.
Oil company Total believes the market for high-sulfur fuel oil will continue to be "significant" once the sulfur regulations enter force next year.
Norway's Kongsberg group has finally taken over manufacturer Rolls-Royce's marine division, after the deal was announced last summer.
The Baltic Capesize Index is still under pressure, and last week it approached a historic low point. Some shipowners are well-bolstered against this adversity, while others are severely affected, believes investment bank.
Daewoo Shipbuilding & Marine Engineering is about to be merged with a South Korean competitor. While the transaction is pending official approval, the yard appoints a new CEO.
One of the world's biggest tanker carriers also accuses Valero of selling contaminated bunker. Yesterday, Valero was singled out as the source of a the contaminated bunker oil, which caused major issues for hundreds of vessels last year.
In two years, the world's largest commodity traders have more than doubled their deliveries of LNG and increased investments in ports and terminals to boost their presence in the market.
Oil headed for its strongest quarter in almost 10 years as the OPEC+ coalition's production cuts and the loss of barrels due to US sanctions on Iran and Venezuela countered a cloudy demand outlook.
In a new court case, US oil company Valero is being accused of having introduced the contaminated marine fuel that caused problems for hundreds of ships last year. World Fuel Services also considers forwarding a damages claim to Valero.
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