Ship Fuel of Choice to Remain Heavy Oil in 2030: New Analysis
A new study by Lloyds Register and University College, London, discusses the prospects of marine fuels in 'Global Marine Fuel Trends 2030', giving insights into future fuel demand for the containership, bulk carrier/general cargo and tanker sectors (which represent about 70% of the global shipping industry's fuel demands). Fuel oil remains the main fuel for deep sea shipping; LNG develops a deep sea bunker market share of 11%…
Navy Funds Austal to Build Two More LCS in US$3.5-Billion Program
Austal inform that its USA’s order backlog has grown by approximately US$684-million dollars as a result of two additional Littoral Combat Ship (LCS) contract options being exercised by the United States Navy. The contract options fund construction of the LCS 18 and LCS 20, the seventh and eighth ships in the 10-ship block buy award made to an Austal-led team in December 2010 in a 10-ship program potentially worth over US$3.5-billion.
Sargasso Sea Protection: 11 Countries Pledge to Support Pact
Representatives from 11 countries and territories from North America, the Caribbean and Europe have committed support for the conservation of the Sargasso Sea eco-system for the benefit of present and future generations, informs the Sargasso Sea Alliance (SSA). The Alliance explains that for more than two years, it has collaborated with the Bermuda government in a push for the establishment of safeguarding measures for the Sargasso Sea…
Greece's Box Ships Stays the Course in FY 2013 Despite ...
Container ship owners Box Ships announce its financial results for the fourth quarter and year ended December 31, 2013, showing an increased EBITDA in the past year. Adjusted EBITDA was $42.087-million in year 2012 which rose to $47.209-million in 2013. Mr. "The fourth quarter of 2013 was a challenging one, despite being our eleventh consecutive profitable quarter as a public company. The containership market continues to be pressured by the extended weakness in Europe and the United States…
Solstad Sign Intents in Large Subsea Construction Vessel Deal
Norway headquartered Solstad Offshore ASA (SOFF) inform it has signed a Letter of Intent (LOI) with a major international offshore contracting company to construct & operate a large subsea construction vessel. The intention is that the client will charter the vessel from Solstad for a period of 8 years firm, in addition to 3 x 1 yearly options. At the same time, Solstad have signed a LOI with VARD to design and build the vessel.
