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Marine News:

Tankers In Demand as Shipowners Are Making Moves Expecting the Market to Rebound

The tanker market appears to be bottoming out according to shipbrokers. As a result, shipowners are seeking more and more wet tonnage in bargain prices, looking to invest while prices are still subdued. In its latest weekly report, Intermodal said that “in the last three months approximately 72 tankers changed hands involving ships larger than ......


Greek Shipowners Strongly Support The Forthcoming Discussions At The UN IMO For Effective Implementation And Enforcement Of The 2020 0.5% Global Sulphur Cap

The Union of Greek Shipowners (UGS) remains firmly committed to the successful transition to the 0.5% global sulphur cap in marine fuels and the related dates that have been agreed at the United Nations International Maritime Organization (UN IMO). At the same time, it fully supports the effective implementation and enforcement of the new regulation ......


Fender damage

Many factors can contribute to an unsafe berth, but a common focus after any berthing incident is whether the fenders were safe and fit for their intended purpose at the material time. Fenders have a simple remit: they should prevent the immovable object (the berth) from succumbing to the irresistible force (of the ship) without ......


Capesize Market Primed for a Late-Year Rally

The dry bulk market fundamentals seem to indicate that a late-year surge in on the cards, at least for the sector’s barometer, the Capesize class. In its latest weekly report, shipbroker Allied Shipbroking said that “since the end of 2016, we have been witnessing a rather impressive recovery being noted in the dry bulk market. ......


Credit Needs To Come Out Of Shipowners’ Blind Spot

Credit has become the taboo topic of the bunker industry since the announcement by the International Maritime Organization that a 0.5% global marine sulfur cap will be introduced from January 1, 2020. After running on easy credit from the banks, as purchases are typically paid for several weeks after delivery, credit lines will need to ......


Shipping: Disclosure and presentation under IFRS 16: Can you access the information you need?

With IFRS 16, the new lease accounting standard, coming into effect soon, shipping companies need to prepare for the new presentation and disclosure requirements. Many will need to make changes to their systems in order to be ready. Lessees face most change, because all lease arrangements will be on balance sheet. The new accounting requirements ......


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