Product Tanker Owners’ Fortunes to Improve In Second Half of 2019 on New Refinery Additions
08.02.2019Product 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”.
learn more →IBIA defines the new regulatory BDN to be launched in 2019
07.02.2019IBIA reminds the industry that new regulatory requirements under MARPOL Annex VI, regarding the information to be included in the bunker delivery note (BDN), will enter into force on 1 January 2019. That is why, IBIA provides practical advice and dispel some of the misunderstandings regarding the responsibility of suppliers.
learn more →Greek Shipowners advise IMO to ensure future-fuel compatibility
06.02.2019London-based Greek shipowners have urged the IMO to bring together oil companies, marine equipment makers and classification societies to guarantee fuels created to comply with 2020 environmental rules do not damage engines and cause accidents.
learn more →Sinopec Shanghai refinery produces low-sulphur bunker fuel
05.02.2019Sinopec’s Shanghai refinery produced its first set of low-sulphur bunker fuel, amounting a total of 6,000 tonnes. The Shanghai refinery now became the first in China to produce low sulphur fuel oil, in order to comply with upcoming IMO rules.
learn more →Demolition Activity Still to Pick Up
05.02.2019Ships’ demolition activity still hasn’t picked up during 2019, as ship owners are gauging the market. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “it has been another sluggish week with most end recyclers still closing themselves off having no real appetite to acquire tonnage.
learn more →Hellas: Ship owners Led the S&P Charts in 2018 with $4.6 billion
04.02.2019Ship owners from Greece poured 4.6 billion dollars for the acquisition of second hand vessels during 2018. In total, Greeks bought 305 ships, with a dwt capacity of 28.22 million tons, far more than any other single country. As always, larger ship types were the ...
learn more →Facts and fears in the open loop scrubber debate
04.02.2019Scrubbers are a recognised solution to dealing with air pollution under MARPOL Annex VI but recent local bans on washwater discharges from open loop systems have increased a widespread misconception that there are no safeguards against their environmental impact.
learn more →IMO Moves Closer To Standardisation And Safer Navigation
01.02.2019A sub-committee under the International Maritime Organization (IMO) have forwarded three documents for adoption in June, moving one step closer to the adoption of a standardised system for electronic navigation.
learn more →As scrubber uptake becomes clearer, compliant fuel provision needs to step up
01.02.2019Bunker demand in 2020 will be determined by scrubber usage, fuel availability and the degree of global compliance, writes Tim Smith, director of tanker and energy markets at Maritime Strategies International (MSI).
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