Capesize Slumps, Coronovirus Pull Down Rates
The capesize component of the Baltic sea freight index plunged to an all-time low on Thursday, hurt by high fuel costs owed to new shipping regulations and a seasonal slowdown worsened by a coronavirus outbreak.The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 27 points, or 5.1%, to 498 — its lowest level in over 3 years.The capesize index dropped 92 points, or 98.9%, to a record low of 1 point, extending its losing streak to a 35th straight session.Average daily earnings for capesizes…
Tankers Running on Fumes as Shipping Fuel Switch Causes Delays
Disruption to shipping from the long-anticipated switch to more environmentally friendly marine fuels has finally arrived, exacerbated by logistical problems as much as any shortage of the cleaner fuel.New International Maritime Organization (IMO) rules, referred to as IMO 2020, aim to stop ships from using fuels containing more than 0.5% sulphur unless they are equipped with exhaust-cleaning systems known as scrubbers.From the start of January ships must load very low sulphur…
Tankers Defer Retrofits to Cash in on Record Freight Rates
Tankers that had been scheduled to install emissions-cutting equipment ahead of stricter pollution standards starting in 2020 have deferred their visits to the dry docks to capitalize on an unexpected surge in freight rates, three trade sources said.U.S. sanctions on subsidiaries of vast Chinese shipping fleet Cosco in September sparked a surge in global oil shipping rates as traders scrambled to find non-blacklisted vessels to get their oil to market.The rates for chartering a supertanker from the U.S.
Tankers Defer retrofits as Record Freight Rates Beckon
Tankers that had been scheduled to install emissions-cutting equipment ahead of stricter pollution standards starting in 2020 have deferred their visits to the dry docks to capitalise on an unexpected surge in freight rates, three trade sources said.U.S. sanctions on subsidiaries of vast Chinese shipping fleet Cosco in September sparked a surge in global oil shipping rates as traders scrambled to find non-blacklisted vessels to get their oil to market.The rates for chartering a supertanker from the U.S.
New Ship Emission Regs: Dirty Fuel Down but Not Out
Asia's spot premium for 380-centistoke (cst) high-sulphur fuel oil (HSFO) is expected to ease gradually from its recent record highs as shippers adopt cleaner marine fuels next year to meet new, tougher rules on emissions from ships.But as the deadline approaches, analysts and traders agree that demand for the dirtier HSFO will not die out completely as an increasing number of ships get equipped with sulphur-cleaning devices in the coming years to combat pollution.Starting Jan.
Trafigura in Fuel JV with Frontline, Golden Ocean
Trafigura Group is joining forces with shipping firms Frontline and Golden Ocean to set up a company to supply shipping fuels ahead of a shake up in regulations next year which could disrupt fuel delivery and cause prices to spike.The three companies said on Tuesday that subject to agreement on final terms, the joint venture is expected to start operating in the third quarter.From Jan. 1, International Maritime Organization (IMO) rules will bar many ships from using marine fuel, also called bunker fuel, containing more than 0.5% sulphur in order to help reduce air pollution.
Singapore's Ocean Tankers tests IMO-2020 Compliant Fuel
Off the coast of Singapore, the world's largest ship refuelling centre, a bunker barge sidled next to the supertanker Pu Tuo San to fill the giant vessel with a new type of fuel that will meet global standards that start up in January.With a little over five months left until stricter marine fuel rules come into effect, shippers such as Singapore's Ocean Tankers that own the very large crude carrier (VLCC) Pu Tuo San have started testing out lower sulphur fuel to prepare their…
IMO 2020: Fujairah Offers Clean Fuel
The Port of Fujairah in the UAE, one of the world's largest bunkering hubs, has begun offering cleaner marine fuel oils that comply with stricter global emissions rules which come into effect at the start of 2020, a port document showed.Bunker fuel with a maximum 0.5 percent sulfur content are "available in Fujairah as early as February 2019 onwards," said a notice to mariners posted on the Port of Fujairah's website. To comply with IMO 2020 rules, shippers can switch to burning cleaner but more expensive oil…
IMO 2020: Fujairah Tightens Exhaust Rules Ahead of 2020
Key Middle East oil terminal bans open-loop scrubbersFujairah in the United Arab Emirates has become the latest major port to ban a type of fuel exhaust cleaning system to comply with a coming tightening in rules regarding global sulphur emissions, mirroring similar moves in Singapore and China.Under International Maritime Organization (IMO) rules that come into effect from 2020, ships will have to reduce the sulphur content in their fuel to less than 0.5 percent, compared with 3.5 percent now, forcing huge changes upon global shippers and also oil refiners.Fujairah's harbour master said in a faxed document seen by Reuters that the port "has decided to ban the use of open-loop scrubbers in its waters ...
Maersk to Install Scrubbers on Select Vessels Ahead of 2020
A.P. Moller-Maersk, the world's biggest container shipping group, will add devices to reduce harmful exhaust emissions to some of its ships ahead of new global fuel regulations starting in 2020.To combat air pollution, the International Maritime Organization (IMO), the United Nations' shipping agency, has set global regulations to cap the sulphur content in marine fuels, known as bunkers, at 0.5 percent down from 3.5 percent now.Shipowners could meet the new regulations by installing sulphur-stripping exhaust cleaning systems…
LNG: Maritime's 'Fuel of the Future'
As the maritime world increasingly mulls alternative fuel and propulsion solutions, Maritime Reporter & Engineering News discusses the path ahead for (liquefied natural gas (LNG) with Timo Koponen, VP, Flow & Gas Solutions, Gas and LNG, Wärtsilä. The road toward acceptance of LNG as marine fuel has neither been short nor straight, but anyone who knows this market could not reasonably expect anything different. “Even though it (LNG) is very well proven both from the technology side and its benefit to the environment, nevertheless there are too many people who still doubt,” said Koponen.
Germany Orders LNG Fueled Research Ship
The Fassmer shipyard in Germany is currently cinstructing a new research vessel to be owned by Bundesamt für Seeschifffahrt und Hydrographie (BSH), the Federal Maritime and Hydrographic Agency. The new 75-meter-long ship, the Atair, will replace her 30 year old namesake, and will be the first German research vessel operating on liquefied natural gas (LNG) fuel. The engines for the new vessel will be supplied by Wärtsilä, who will also supply exhaust cleaning systems based on selective catalytic reduction (SCR) technology and the LNGPac system for complete fuel gas handling.
Norwegians to Finance Vessel Retrofits
Following the International Maritime Organization (IMO) ratifications of the ballast water and exhaust gas treaties, government-owned Export Credit Norway offers financing to international vessel owners who purchase retrofit equipment from Norwegian suppliers. The Norwegian export credit agency Export Credit Norway has assembled a specialized team and tailor-made financing solution to support vessel owners who need to retrofit equipment such as gas exhaust cleaning systems, ballast water treatment systems and new coating systems.
Carnival Vista Recognized as 'Green' Ship
Classification society Lloyd's Register has bestowed the "ECO Notation" designation on the new Carnival Vista, marking the first Carnival Cruise Line ship to achieve this distinction. The notation recognizes that the cruise line designed, built and operates Carnival Vista in a manner that exceeds current maritime statutory environmental regulations. Lloyd's Register (LR) established a set of voluntary standards that vessels can seek to achieve that exceed regulations established by the International Maritime Organization and other national and international regulatory agencies.
Wärtsilä Joins LNG-powered Bulker Project
Wärtsilä is to team up with an international group of shipping industry companies and organisations in a project to develop a concept for equipping future dry bulk carrier vessels with LNG propulsion. Project Forward is led by Athens-based Arista Shipping. It began officially in May 2015 with the aim of developing a commercially feasible LNG powered dry bulk carrier design capable of complying with the International Maritime Organization's (IMO) Energy Efficiency Design Index 2025 standards, as well as with all relevant emission reduction regulations.
Wärtsilä Propulsion for LNG Bunker Vessel
A new 5,800-cubic-meter LNG bunker and feeder vessel, being built for Sirius Veder Gas AB at Royal Bodewes, Hoogezand, in the Netherlands, will be powered by a Wärtsilä propulsion solution. Wärtsilä, who received the contract in September, will supply a propulsion package comprising a six-cylinder Wärtsilä 34DF dual-fuel main engine capable of running on either LNG or diesel, a reduction gearbox with power take-off (PTO), a shaft line suitable for use with environmentally friendly lubricants and equipped with a Wärtsilä Airguard aft seal that allows zero emissions…
Northern Lights to Show DECS at Miami Boatshow
Northern Lights to feature its Diesel Exhaust Cleaning System (DECS) at the 2013 Progressive® Insurance Miami International Boat Show. Based on DCL International’s MARINE-X™ system, DECS removes soot and particulate matter as it is emitted from the diesel engine. The air and water quality on and around the vessel is vastly improved, offering a clean, enjoyable environment for everyone on board. When equipped with DECS, exhaust gas is routed through a catalytically coated ceramic filter, trapping soot and particulates.