Mitsui OSK Lines (MOL) is going to install an augmented reality (AR) navigation system on 21 VLCCs having successfully trialled the innovation on two vessels.
Oman Shipping Company (OSC) is eying an ambitious fleet expansion plan after it ordered two eco-friendly newbuild VLCC at South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).
Cosco Shipping Energy Transportation (CSET) has an upbeat outlook for the tanker market and sees an improving balance in supply and demand.
Wärtsilä is seeing increasing recognition for the upgraded version of its China-made Wärtsilä 20 engine, with a total of 33 engines being ordered in June, all for newbuildings for Cosco-linked companies at Chinese yards.
Cosco Shipping Energy Transportation (CSET) has warned that it expects to turn to a net loss of between RMB235m ($34.5m) to RMB305m in the first half from a profit of RMB865m in the first six months of 2017.
John Fredriksen's Frontline has become the latest big name to commit to scrubbers as part of the solution meet the 2020 sulphur buying a 20% stake in Fenn Marine Scrubbers Inc (FSMI).
The brewing trade war between the US and China is seen having varied effects on different parts of the shipping industry. While much will depend on if and when the tariffs actually kick in, analysts seem to agree that the worst effects will be felt by the container shipping industry, exacerbating an already difficult situation with oversupply of capacity and slowing global trade.