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Sovcomflot's Profit Soars as Tanker Market Strengthens

Sovcomflot

Sovcomflot closed Q3 2019 with a significant increase in net profit year over year.

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ICTSI a Step Closer to Starting Iloilo Port Development

The company intends to invest USD 171.7 million in the Iloilo Port Complex.

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Rhenus-Arkon-Shipinvest Orders Short Sea Newbuild Fleet

Rhenus-Arkon

Rhenus-Arkon-Shipinvest orders its first four environmentally friendly vessels.

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Shell Marine Wins Lubricants Deal for 5 COSCO Pulp Carriers

COSCO Shipping Specialized Carriers

Shell Marine wins a contract to supply lubricants for 5 pulp carriers owned by COSCO Shipping Specialized Carriers.

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EU Commission Probing Tax Exemptions for Italian Ports

Italian port

The EU wants to check whether Italian laws are in line with EU State aid rules.

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Teekay Receives Fifth Arc7 Icebreaking LNG Carrier

LNG carrier Georgiy Ushakov

The ship is currently en route to Sabetta for its golden voyage.

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CSC: IMO Too Slow in Tackling Shipping's Climate Impact

Containership

Faig Abbasov, shipping policy manager at T&E: "Everything is slow at the IMO, except for polluting ships."

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HMM Becomes Member of Getting to Zero Coalition

HMM

Hyundai Merchant Marine has joined a new alliance that aims to accelerate shipping's decarbonization.

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Epic Gas Wraps Up Acquisition of 11,000 cbm Gas Carrier

Epic Gas

Epic Gas has completed the acquisition of the Epic Sicily, a 2015-built pressurized vessel.

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IMO Working Group Takes Steps to Aid GHG Emissions Reduction

shipping

IMO to create a workstream for the development of lifecycle GHG/carbon intensity guidelines for all fuel types.

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Sustainable Marine Development Towards 2030 and Beyond

A look back at the conference that took place in Jeddah, Saudi Arabia, November 5-7.

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Readers' Picks of the Week

Here are some of the last week's most read news.

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German Fintech Launches New Digital Ship Investment Project

EUR

Hamburg-based FinTech company Marvest launches a new digital ship investment project.

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Essar's Hazira Port Ferry Terminal Ready for Operations

The passenger terminal was built in eight months.

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Stena Estrid Joins Stena Line's Fleet

The vessel will now start a six-week journey to the Irish Sea, where it will begin service in January 2020.

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Drewry: Higher BAF Charges to Arrive ahead of IMO 2020

Shippers and forwarders are starting to help carriers cover the additional cost of the cleaner, low-sulphur fuel.

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MOL Chemical Tankers to Co-Develop Terminal at Ulsan Port

chemical_tanker

MOL Chemical Tankers has agreed with KNOC and SK Gas to develop a chemical terminal in the Port of Ulsan.

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Yang Ming Suffers Net Loss After Returning High-Cost Ships

Yang Ming

Yang Ming plunged deeper into the red in Q3 2019 after returning several high-cost chartered vessels.

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Okeanis Eco Tanker Earnings Hit by Scrubber Refits

VLCC

The company is looking forward to a strong fourth quarter, however.

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2020 Bulkers, Koch Extend Charters for Two Ships

The company's Bulk Santiago and Bulk Seoul will continue working for Koch for another 11-13 months.

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Wärtsilä, PSA Marine Join Forces on Smart Shipping Solutions

Wärtsilä

Wärtsilä and PSA Marine plan to collaborate in the co-creation of smart technologies for the marine sector.

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Maersk's Operating Results Up despite Lower Container Demand

The company delivered strong free cash flow and a return on invested capital of 6.4%, according to Maersk CEO.

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Team Tankers Offloads Two More Older Ships

Team Tankers

Team Tankers is selling another two older vessels, pursuing its strategy aimed at younger ocean-going units.

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GasLog Raises USD 98.4 Mn through Senior Unsecured Bonds

Net proceeds from the bonds will be used for general corporate purposes and prepayment of debt.

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GoodFuels to Support Shipping's Compliant Fuel Demand

The parties would invest in a bio-refinery to produce an advanced marine biofuel based on pyrolysis oil.

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Cargill Extends Charter for Diana's Bulker

Diana Shipping

Diana Shipping has extended a time charter contract with Cargill International for Medusa.

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Report: Sinopec Eyes 100 New Barges for LSFO Supply

SINOPEC

Sinopec is to add 100 barges to its fleet to be able to supply IMO 2020 compliant marine fuel. 

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