The last plenary of the European Parliament in Strasbourg for this five-year term adopted earlier today the new law, which aims to scale up industrial capacity for green technologies in Europe. European shipowners strongly welcome the inclusion of clean fuels for shipping, including advanced...
Svitzer A/S (Svitzer) has published its trading statement for Q1 2024, showing a strong start to 2024. Q1 2024 highlights (Q1 2023 in brackets) • Revenue: DKK 1,555 million (DKK 1,424 million) • Revenue growth in constant exchange rates: 11% (12%) • Adjusted EBITDA: DKK 479 million (DKK 420...
https://www.hellenicshippingnews.com/svitzer-sees-strong-start-to-2024/
Singapore’s onshore fuel oil stockpiles slipped to 20-week lows after net imports declined, data showed on Thursday. The inventories fell 14.6% to 18.94 million barrels (2.98 million metric tons) in the week to April 24, Enterprise Singapore data showed. Net fuel oil imports, calculated by...
https://www.hellenicshippingnews.com/singapore-fuel-oil-stockpiles-hit-20-week-lows/
We expect the supply/demand balance to strengthen in 2024 and weaken in 2025. Supply is estimated to grow by 2-3% in 2024 and 1.5-2.5% in 2025, while demand is projected to grow by 2.5-3.5% in 2024 and stagnate in 2025. Overall, conditions in the dry bulk market should stay strong in 2024 but could...
Technology group Wärtsilä will supply the methanol-fuelled auxiliary engines for five new container vessels for COSCO Shipping Lines Co., Ltd and seven new container vessels for Orient Overseas Container Line. Each vessel will operate with three 8-cylinder and two 6-cylinder Wärtsilä 32M engines....
https://www.hellenicshippingnews.com/wartsila-secures-chinas-largest-ever-methanol-newbuild-order/
China is providing moorage for a U.S.-sanctioned Russian cargo ship implicated in North Korean arms transfers to Russia, according to satellite images obtained by Reuters, as U.S. concerns grow over Beijing’s support for Moscow’s war in Ukraine. Britain’s Royal United Services Institute (RUSI)...
Booking the best cargo or the best vessel at the best possible rate is at the heart of the chartering and nominations functions. And yet, the ‘best’ decision can change—sometimes from hour to hour. Missing information can delay decision making and impact cargo or vessel availability in ways that...
Mitsui O.S.K. Lines, Ltd. yesterday announced that it has decided to raise funds through a syndicated transition linked loan(Note 1) using the performance-based interest subsidy system(Note 2) based on Japan’s Act on Strengthening Industrial Competitiveness. The Minister of Land, Infrastructure,...
Results •NORDEN for the first quarter of 2024 generated a net profit of USD 62 million (USD 150 million) ·EBITDA of USD 92 million (USD 208 million) ·Free cash flow of USD -50 million (USD 111 million) ·Return on invested capital (LTM) 26% ·Earnings per share of DKK 14 (DKK 31) •While three of the...
https://www.hellenicshippingnews.com/norden-reports-first-quarter-net-profit-of-62-million/
Asia’s high sulphur fuel oil (HSFO) benchmarks firmed on Thursday amid higher-priced bids, while the market also eyed potentially less exports from the Middle East. The cash differential for 380-cst HSFO was pegged above a premium of $1.50 a metric ton to Singapore quotes, while crack spreads rose...