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Erik Stavseth News

11 Jul 2016

Can You Farm Fish Inside a Cargo Ship?

The world’s biggest Atlantic salmon producer wants to start farming fish inside a ship – and the idea has merit, says a report in IOL. Building traditional fish farms on the open water in Norway has become almost impossible because of state rules intended to curb outbreaks of sea lice, a parasite that can kill young fish. So raising salmon inside an unwanted cargo ship is one of a few options proposed by Marine Harvest ASA, which is trying to boost production at a time when prices are near a record high. Output in Norway, the top producer, is falling just as supply declines from the rest of the world. Employing a Panamax vessel better…

13 Feb 2015

LNG Tankers Idled as Gas Downturn Widens

Combined tanker capacity of at least 2.25 mcm LNG lies unused. Over a dozen liquefied natural gas (LNG) tankers are parked, many idle, in and around Singapore - one of the world's biggest trading hubs for the fuel - in a sign that the slowdown engulfing world gas markets may be worsening into a crisis. With Asian spot LNG prices down by almost two-thirds since February 2014 as slowing demand combines with rising output, shippers are parking their tankers close to ports like Singapore where unused ships can be easily maintained and serviced until new orders come in. Leading ship brokers estimate over one-tenth of the global fleet of 400 LNG tankers is currently unused because of slowing growth in Asia's biggest economies. The impact just in Singapore suggests the problem could be worse.

11 Mar 2014

Ship Glut Burdens LNG Tanker Market, Slashes Profits

LNG carrier rendering courtesy of MOL

Deliveries of new gas tankers have created a glut that is threatening to tip some operators into losses, just as other shipping markets emerge from their worst downturn in decades. The liquefied natural gas (LNG) tanker market was until recently the only bright spot in an otherwise depressed freight industry. A global surge in the demand for gas, led by Japan in 2011, boosted trade, tied vessels to longer routes and drove rental rates to record highs. But the 119 new carriers ordered from 2011 will have expanded the fleet by over 30 percent by end-2017.