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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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IBIA defines the new regulatory BDN to be launched in 2019

07.02.2019

IBIA 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.

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Greek Shipowners advise IMO to ensure future-fuel compatibility

06.02.2019

London-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.

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Sinopec Shanghai refinery produces low-sulphur bunker fuel

05.02.2019

Sinopec’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.

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Demolition Activity Still to Pick Up

05.02.2019

Ships’ 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.

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Hellas: Ship owners Led the S&P Charts in 2018 with $4.6 billion

04.02.2019

Ship 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 ...

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