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Hellas: Ship owners With Larger Vessels Prefer to Install Scrubbers Ahead of IMO 2020 Rules

20.02.2019

The debate over the strategy with the best results, when it comes to complying with the 2020 IMO rules for the use of lower sulphur fuels on the existing fleet, is still raging. In a recent press event, the Piraeus office of DNV GL, which also acts as the base of the company’s regional headquarters and oversees a number of countries in the area, had some interesting thoughts to share.

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BIMCO tempers GDP growth projections ahead of IMO’s next greenhouse gas study

19.02.2019

A global shipowning body has called for regulator International Maritime Organization (IMO) to dismiss high global gross domestic product (GDP) growth projections when addressing its next greenhouse gas (GHG) study, due to get underway next month.

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IEA: Oil quality should be in focus in 2019

18.02.2019

The imposition of sanctions by the US against Venezuela’s state oil company PDVSA reminds the huge importance for oil of political events, IEA believes. Namely, in 2018, around 450 kb/d was shipped to the US. The decrease in exports also shows the collapse of production over the same period from 3.4 mb/d to about 1.3 mb/d today.

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Ship Owners Turn to Second Hand Acquisitions

15.02.2019

Ship owners have opted against committing more financial resources towards newbuilding orders, amid the uncertainty surrounding world trade growth prospects and the pressures exerted on the Chinese economy. This has been the overall trend since the start of 2019, except a couple of niche segments, like LNG, where prospects remain dry.

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New Regulations To Trigger Huge Business for Ship Repair Yards

14.02.2019

The entry into force of the Ballast Water Treatment Convention and the upcoming 2020 IMO Regulations for the use of low-sulphur fuels by the existing fleet, are expected to trigger a mass influx of clients for ship repair yards. 

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Safety Management: Why SMS are important

13.02.2019

It has been 20 years since the ISM code became mandatory. Widely known as the ‘International Safety Management Code’, its implementation was a landmark for shipping industry given that for the first time, each shipping organization was obliged to develop an effective safety management. Namely, a "Safety Management System" is the core requirement for the ISM Code implementation; its aim is to ensure that safety is secured, humans are protected from injury and harm, and the environment and property are not damaged.

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Hellenic Fleet Value up by $5 Billion in 2018, at $105.2 Billion

12.02.2019

The Greek fleet has increased its total value by over USD 5 billion in one year. This is the second biggest increase in value for any of the top 10 shipping nations. The total asset value of the Greek owned fleet has topped USD 100 billion, a significant milestone.

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Contamination fears fuel calls for greater bunker transparency ahead of 2020

11.02.2019

Calls are growing for greater transparency in the bunker industry ahead of the 2020 global sulphur cap.

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Product Tanker Owners’ Fortunes to Improve In Second Half of 2019 on New Refinery Additions

08.02.2019

Product tanker owners could potentially see rates improving during the second half of 2019, as a number of new refineries will hit the market. In its latest weekly report, shipbroker Gibson said that “according to a recent IEA report, 2019 is expected to see the largest wave of refinery capacity additions since the 1970’s. The Agency expects that 2.6 million b/d of new capacity will initiate operations this year. In terms of pure volumes, this is of course a bullish sign for the product tanker market, but what really matters is how global product flows shape up”.

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