Shipping

  • Greece As A Shipping Cluster Needs More Work To...

    Over the last decades, the global shipping industry has been one of the major factors of the globalization process. At the same time, the shipping industry is itself being transformed by growing international trade, market integration and the shifting balance of economic power from developed economies to rapidly growing lower wage economies. As shipping-related economic activities are also becoming more globalized, cities and states have to compete to attract international maritime companies.

  • OPEC, Non-OPEC Global Oil Supply

    The 13 OPEC countries produced about 36.4 MMbbl/d of crude oil and condensate in 2016, the highest in the past several years. Threatened by the U.S. shale boom, the group led by Saudi Arabia decided to fight for market share in 2014, resulting in an industry downturn as oil prices completely collapsed.

  • Saudi energy minister says no immediate need to...

    There is no evidence a pact by global oil producers to curb output needs to be adjusted, Saudi Arabia’s Energy Minister Khalid Al-Falih said on Saturday, describing the recent weakness in crude prices as an overreaction to statistical glitches.

  • US Paris exit may spur shipping emissions...

    US president Donald Trump’s decision to remove the US from the Paris climate accord, which aims to prevent temperatures from rising 2°C above pre-industrial levels by curbing carbon emissions, is going to have a “coordinating” effect on other countries to limit carbon emissions through the International Maritime Organization (IMO), secretary general of the International Chamber of Shipping (ICS) Peter Hinchcliffe told Argus.

  • Ship Demolition Market Hits Standstill, While...

    While all shipping markets are eagerly awaiting for more ship scrapping activity moving forward, in order to be able to alleviate the tonnage oversupply and stage a viable and sustainable recovery, things don’t seem to be able to move that way. In its latest weekly report, the world’s leading cash buyer of ships, GMS, said that “negotiations, fixtures and overall local activity ground to a virtual standstill this week with most end buyers focusing their attention on the budgets of Pakistan and Bangladesh, before deciding on whether to / what to offer on future tonnage”.

  • Damen Green Solutions introduces new Modular...

    Cuts time spent in dock from weeks to days

    Damen Green Solutions (DGS) in partnership with Damen Shiprepair & Conversion (DSC) and AEC, the scrubber supplier, is trialling a new technique for retrofitting scrubbers.

  • GMB seeks help from Shipping Ministry to develop...

    Gujarat Maritime Board (GMB), which administers and regulates the 41 state-owned non-major ports of Gujarat, has sought assistance from the Union Ministry of Shipping for developing a Maritime Cluster, the first in the country.

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Global bunker fuel supplier Aegean Marine focuses on four-pronged growth strategy

Global bunker supplier Aegean Marine Petroleum Network’s new leadership team is pursuing four main strategic initiatives — rationalizing the company’s global platform for asset optimization, executing cost saving initiatives, capitalizing on key business development projects, and generating new revenue streams — to grow the business amid challenging market conditions, the company said during its second-quarter earnings call.

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