Singapore-listed First Ship Lease Trust (FSL Trust) is suing Torm for redelivering two bareboat chartered vessels in “untradeable” condition.
Sinotrans & CSC Nanjing Tanker orders two 49,700dwt crude oil tankers plus four option at Guangzhou Shipyard International (GSI).
Cosco Shipping Energy Transportation announced has organisation restructuring plan with newly named departments for VLCCs and tanker operations.
Qingdao port, the leading crude oil and ore handling port of China, has started building its second 300,000 tonne-class crude oil terminal at Dong Jia Kou port area with completion scheduled by the end of 2019.
Scorpio Group has provided details of $122m of scrubber installations for its tanker and bulker fleets.
VLCC owner DHT Holdings say its scrubber fitted vessels will be configured in such a way where it can burn 0.5% or less sulphur fuel where exhaust gas cleaning units are banned.
While the sulphur cap is still very much the issue of the day Martin Stopford, president of Clarkson Research Services, says the industry needs to start thinking now how it will meet the IMO's goal of a 50% reduction in CO2 emissions by 2050.