Category Archives: Tankers

DNV: Fuel efficiency guides for ship types

Posted on December 9, 2011 by Editor

The combination of low charter rates and high fuel prices is creating a strong interest in fuel saving measures. DNV has now updated the Fuel Saving Guideline for Bulk Carriers, which was released in April this year, and has issued … Continue reading →

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An income gusher in the energy patch

Posted on November 27, 2011 by Editor

MoneyShow.com Seadrill (SDRL-N31.14-0.17-0.54%) is the second-largest offshore driller, with the second-largest ultra-deep-water fleet. It operates the world over with 46 rigs, and its clients include most of the oil and gas exploration heavyweights, like Exxon Mobil (XOM-N73.90-0.68-0.91%), ConocoPhillips (COP-N66.14-0.79-1.18%), the … Continue reading →

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Newcastle coal prices ease on extended Chinese buying drought

Posted on November 27, 2011 by Editor

Prices for low and higher calorific value thermal coal traded at Australia’s Newcastle trading hub fell further Friday, as buyers in China refused to be drawn into the spot market by the promise of discounted-price cargoes, said market sources. Sellers … Continue reading →

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Greece to allow armed guards on cargo ships against piracy

Posted on November 27, 2011 by Editor

Greece will let its large commercial fleet employ armed guards to ward against a surge in pirate attacks, the ministry in charge of security said on Friday, satisfying a long-standing shipowner demand. “To improve safe sailing and crew safety aboard … Continue reading →

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Piracy; Costs More Than Just a Ransom

Posted on November 21, 2011 by Editor

“At the moment of the attack there were 78 people onboard and 1 million barrels of crude oil. I cannot imagine what could have happened if we did not surrender to the pirates. Human lives endangered and disastrous pollution; they … Continue reading →

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India: Shipping companies hit hard by high interest rates

Posted on November 17, 2011 by Editor

Shipping companies have reported a poor second quarter on the back of a drastic fall in charter rates and high interest charges and bunker cost. While leading private players – Great Eastern Shipping Company (GE Shipping) and Mercator Lines, net … Continue reading →

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Maersk May Benefit as Overcapacity Hits Rivals

Posted on November 17, 2011 by Editor

A.P. Moeller-Maersk A/S, owner of the world’s largest container line, is prepared to outlast rivals as the industry faces four years of overcapacity. “We are actually quite well positioned for a longer stretch of tough competition,” Nils Smedegaard Andersen, chief … Continue reading →

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SCI to postpone chunk of scheduled vessel orders to 12th plan

Posted on November 17, 2011 by Editor

State-owned Shipping Corporation of India (SCI) will not order more than 6-7 vessels during the terminal year of the 11th plan period due to lean market conditions, leaving a chunk of its orders for 2012-17 period. “We have ordered 26 … Continue reading →

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Oil headed for the longest run of weekly gains since April 2009

Posted on November 15, 2011 by Editor

By Grant Smith Oil headed for the longest run of weekly gains since April 2009, on speculation that signs of U.S. economic growth and Europe’s steps to contain its debt crisis will support fuel demand. Crude climbed as much as … Continue reading →

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Oil Riches Pile on China Doorstep as Clashes Delay Drilling

Posted on November 15, 2011 by Editor

Nov. 11 (Bloomberg) — To China, the world’s biggest energy consumer, another Saudi Arabia of oil may lie beneath the ocean to its south. Escalating regional tensions mean large-scale drilling may be slipping further into the future. The South China … Continue reading →

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