Physical bunker supplier Peninsula Petroleum has boosted its overall liquidity by $150m after renewing its European receivables finance facility.
Six out of 10 new ships ordered by 2025 are predicted to be LNG-powered vessels due to stricter environmental standards in shipping, a South Korean study says.
California-headquartered Chevron Oronite has introduced a new marine cylinder lubricant additive package specially designed for ships operating with less than 0.5% sulphur fuels when the IMO 2020 kicks in.
When Hapag-Lloyd unveiled its ‘Strategy 2023’ towards the end of last year, it was based on the premise that the container shipping market’s rush of consolidation is over.
The Danish Maritime Authority is planning to deploy a large drone to check emissions from ships in Danish waters for compliance with the IMO 2020 global fuel sulphur cap regulation.
With the IMO 2020 regulation just round the corner, shipowners are mostly catching up on understanding fuel compatibility and operational issues, but the equally important legal aspects have been largely left unsaid.
The Maritime and Port Authority of Singapore (MPA) has recently published a list of licensed bunker suppliers that are able to provide IMO 2020 compliant fuels in Singapore.
Shell Marine will introduce its new two-stroke engine cylinder oil dedicated for use with ship engines running on 0.5% sulphur fuel into the Singapore market this year, ahead of the IMO 2020 regulation.
An estimated 860,000 barrels per day (bpd) of bunker fuel demand will not be in compliant with the 0.5% sulphur content cap regulation set to be enforced from 2020, according to energy research consultant Rystad Energy.
Bimco maintains there is more match than clash for shipping and the environment and it’s up to the shipping industry to demonstrate what it has done, and what it is doing, to protect the environment.