As ballast water management regulations shift towards enforcement shipowners are finding that the majority of ballast water treatment systems (BWTS) installed do not function properly.

Putting in more commitment to research, innovation and product development, Wärtsilä is building the Smart Technology Hub, a new centre that will incorporate these functions as well as production, in Vaskiluoto, Vaasa. From 2020, all of Wärtsilä's functions and personnel in central Vaasa will transfer to the new hub, along with the logistics and maintenance workshop operations from Runsor.

Shell Marine has inked a contract to provide lubricants for seven out of 10 Cosco Shipping’s 20,000 teu containership newbuildings.

The International Monetary Fund expects global growth to remain moderate for the rest of the year. This means that even with the dip in oil prices since last year, the shipping industry will not see a quick recovery anytime soon, even with the substantial savings from low bunker prices.