AMSC ASA announces results for the fourth quarter ending 31 December 2024. HIGHLIGHTS: Announced a special dividend of NOK 3.9255 per share to be classified as return of paid in capital. Announced intention to distribute Solstad Maritime shares in conjunction with a Solstad Maritime stock exchange listing. Announced intention to liquidate and delist AMSC once …
AMSC ASA – Fourth Quarter 2024 Results Read More »
The amount of Russian and Iranian oil held on ships has hit multi-month highs as harsher U.S. sanctions reduced the number of buyers, leaving fewer tankers available to deliver cargoes and driving up crude costs, trade sources and analysts said. Washington has imposed multiple rounds of sanctions on ships and entities dealing with oil from …
US sanctions strand Iran, Russia oil on tankers, driving up crude costs Read More »
In 2024, India’s coal production reached a record high, driven by increased demand from utilities and a government initiative to boost domestic output. Total coal production from state-controlled entities like Coal India Limited (CIL), Singareni Collieries Company Limited (SCCL), and privately allocated mines for industrial use amounted to 1.04 billion tons, marking a 7% increase …
India’s Energy Shift – Balancing Growth & Sustainability Read More »
New MERC publication highlights the growing importance of advanced hull coating systems to help reduce GHG emissions. New analysis by the Maritime Emissions Reduction Centre (MERC) has found that silicone-based hull coatings could deliver significant emissions reductions, but challenges around application and mechanical strength remain. Silicone coatings, with their very low surface energies and smooth …
Silicone-based hull coatings to deliver significant emissions reduction Read More »
Fuel oil cracks pared strength on Wednesday after a recent rally, while spot trade remained largely thin in the week. Singapore 380-cst high sulphur fuel oil (HSFO) Brent-crack dipped towards premiums of 40 cents a barrel after hitting its recent high of over 80 cents the previous day. Meanwhile, cracks for very low sulphur fuel …
Fuel Oil Cracks retreat while spot trade remains thin Read More »
Northwest Europe HSFO and VLSFO remain tight for prompt deliveries in the ARA hub. Lead times for both grades are 5-7 days, unchanged from last week. LSMGO availability is comparatively better, requiring lead times of 3-5 days. The ARA’s independently held fuel oil stocks have decreased by 8% so far this month compared to January, …
ENGINE: Europe & Africa Bunker Fuel Availability Outlook Read More »
Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2010-built Post-Panamax vessel “Alcmene”, with delivery to the buyer latest by March 7, 2025, …
Aiming to achieve net zero emissions, Mitsui O.S.K. Lines, Ltd. yesterday announced the launch of a new program, BLUE ACTION NET-ZERO ALLIANCE. This program contributes to reducing the Scope 3 GHG emissions of actual shippers and NVOCCs (Note 1) that use ocean transport services by continually offering and enhancing low-emission marine transportation services using alternative …
The investment and asset manager MPC Capital has acquired a 50% stake in the performance management company BestShip GmbH & Cie. KG (“BestShip”) from Norwegian maritime group Wilhelmsen. This strategic acquisition expands MPC Capital’s maritime services and reinforces its growth in energy transition-related activities. BestShip offers holistic and data-driven assessments of vessels and entire fleets …
EXMAR NV hereby announces that today, Saverex NV launched its previously announced voluntary and conditional public takeover offer for all shares of EXMAR not yet directly or indirectly owned by the Offeror or persons affiliated with it (the “Offer”). The initial acceptance period in respect of the Offer will open on 13 February 2025 and …
