War Risk underwriters have succeeded in rejecting a $77m claim on the basis that the constructive total loss of the Brillante Virtuoso was caused by the wilful misconduct of the Owner. On October 7, 2019, Mr Justice Teare handed down a 140 page judgmen…
Defeat for shipping’s “most spectacular fraud” Read More »
Ships’ recycling activity has been the negative “star” of today’s shipping market, with tonnage sold for scrap failing to reach Southeast Asias’ shores. As a result, concerns are bound to be raised on the future balance of supply-dema…
Demolition Market Comes Back to “Life”, Albeit in “Slow Motion” Read More »
Using scrubbers while burning residual fuels would help reduce global CO2 levels, a new study published by Norwegian researchers confirmed. The continued use of heavy fuel oil with an exhaust gas cleaning system (EGCS) is the most environmentally benef…
Norway: New Study Confirms Scrubbers Would Aid Global CO2 Reduction Read More »
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engine emissions from 3.5% currently to 0.5% or less from 1st January 2020. It may seem an arcane rule change, but t…
Shipping fuels, crude oil markets and the environment Read More »
Normal service has been resumed, as ship owners have returned to the S&P market, lowering their “appetite” for newbuildings. In its latest weekly report, shipbroker Banchero Costa said that “two modern NewCastelmax, the Bulk Seoul and Bulk Shanghai…
Ship Owners Return to the S&P Market Read More »