More validation is emerging for Wärtsilä’s dual fuel concepts and technology with the signing of orders for a new shuttle tanker concept developed by the world’s largest provider of shuttle tanker services; Teekay, in close cooperation with Wärtsilä.
Bimco says that caution will be needed in 2018 to sustain the improvement in shipping markets last year, with China remaining as the driving force of demand.
The announcement of Euronav’s all-share acquisition of Gener8 Maritime came after years of pounding the virtues of the C-word – consolidation - by Euronav’s ceo Paddy Rodgers.
Euronav is taking over Gener8 Maritime in an all stock merger creating a new giant in the large tanker sector.
Cosco Shipping Energy Transportation is going back on the ordering trail, announcing a RMB2.14bn ($323.7m) order for seven tankers from Guangzhou Shipyard International (GSI) over the weekend.
While a panel on the tanker and gas markets, as well as the container shipping session, at the Asian Logistics and Maritime Conference in Hong Kong almost unanimously agreed that scrubbers are not the solution to the emissions control issue, there was one contrarian view that they are needed for the industry to remain competitive.
The US shale gas phenomenon is having an effect on traditional trading patterns, and owners and operators will have to react to this, said Navig8 Group coo Andrew Hoare at the Asian Logistics and Maritime Conference's Tanker and Gas Market Outlook panel.