DNV has granted an Approval In Principle (AIP) to PASSER Marine for the development of a new LNG fuel tank insulation system. The new concept is designed for prismatic type B LNG tanks - which according to IMO rules require a partial second

Ten months of test sailing using Frugal Propulsion on the tanker Endelo Swan shows a fuel saving of 12.2%, which is now driving Uni-Tankers to install the system on more ships in the fleet. Uni-Tankers is continuously working to make its oi

In its April 2021 World Economic Outlook, the International Monetary Fund (IMF) lifted global economic growth projections for 2021 and 2022 by 0.8% and 0.2% to 6% and 4.4% respectively due to the anticipated vaccine-driven recovery in the 2

In response to the numerous challenges arising in the face of the Covid-19 pandemic, BIMCO launched a webinar series in the autumn of 2020. The series offer insight from industry experts who join the webinars to share their knowledge and de

China Classification Society (CCS) hasbeen named as the best performing International Association of Classification Societies (IACS) member for having the lowestDPI (Deficiencyper InspectionRatio)for bulk carriers. CCS secured the ranking i

On April 30, China Shipbuilding Tradingjoinedhandwith Jiangnan Shipyard, Hudong-Zhonghua Shipbuilding, and Qingdao Beihai Shipbuilding Heavy Industry, a subsidiary of Wuchang ShipbuildingIndustryGroup, to jointly undertake 22 orders for 3 t

On April 28, Shanghai Bluesoul Environmental Technology and CITIC Capital signed a strategic cooperation agreement. Shanghai Bluesoul completed 100 million yuan A round of financing, CITIC Capital fully subscribed. Among them, this round of

On April 29, COSCO Shipping Heavy Industry(Dalian) named and delivered the 62,000DWT multi-purpose pulp ship N1009 built for COSCO SHIPPING Development andCNIC Corporation Limited. The ship is the 12thmulti-purposepulp shipbuilt byCOSCO Shi

Sinopec plans to import 17.4 million mt of LNG in 2021 and produce 34 Bcm of natural gas, including about 12 Bcm of shale gas, in an effort to meet domestic demand, while lowering carbon emissions, senior officials said during the companys

Chinese steel rebar and hot-rolled coils futures rose on Thursday, after Beijing announced adjustments on tax and tariffs for some ferrous products to support domestic crude steel production cuts. The countrys finance ministry said on Wedne

The Baltic Exchanges main sea freight index, which tracks rates for ships ferrying dry bulk commodities, climbed to its highest since mid-2010 on Thursday as demand improved for all vessel segments. The Baltic dry index, which tracks rates

In the first quarter of 2021 high-sulphur fuel oil (HSFO) has been the only bunker fuel to experience year-on-year growth in Singapore, the worlds largest bunkering hub. HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is ho

The resurgence of Covid-19 in India has prompted fresh lockdowns across a number of states. While ports, steelmaking plants and refineries are deemed essential businesses and continue to operate, disruptions should be expected in the follow

With 20 years in the industry, Ecochlor has a long history of providing timely and expert support to their customers in keeping their ballast water management systems(BWMS) in compliance. They are not in this business for the short-term, th

CMES released its financial results for the first quarter of 2021, during which the company achieved an operating income of 3.596 billion yuan, down 24.81% compared with the same period last year. Net profit attributable to shareholders of