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Weekly Vessel Scrapping Report: 2016 Week 46

Weekly Vessel Scrapping Report: 2016 Week 46

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue.com's demolition sales from November 17 – November 23, 2016.

EC Gives Green Light Hapag-Lloyd UASC Combination

The approval is noted to be conditional on UASC's withdrawal from a consortium on the trade routes between Northern Europe and North America.

MOL Launches New Project to Reduce Fleet's Environmental Impacts

The Ishin Next - MOL Smart Ship Project will also share its technological development policies with customers and other stakeholders.

Idle Box Ship Capacity Falls Back From Record Highs: Alphaliner

As of November 14, the number of idle container ships of above 500 TEU is said to have fallen from a record high of 1.59 million TEU to 1.49 million TEU.

OPEC Deal Expected, but Doubts of Its Efficacy Cause Oil Prices to Drop

Widespread indications suggest next week's OPEC summit will be a bust.

Vienna Will Result in $38-$60 Oil, No Change in the Glut, and More Volatility next Year: Analysts

The Saudis reportedly are aiming for $50 to facilitate their sale of Saudi Aramco.

WE Tech Shaft Generators to Provide "Tonnes of Fuel Savings Every Day" to Four Stena Newbuilds

WE Tech says it will supply energy efficient permanent magnet shaft generator solutions to Stena Line's four newbuild RoPax ferries.

Freepoint Commodities Opens Bunkering Services at St. Croix

The company says it will initially provide bunkers ex-pipe at St. Croix's Limetree Bay Terminals.

LNG-Powered Ferry Embarks on Transatlantic Voyage for Delivery to BC Ferries

Salish Orca is expected to arrive for delivery to in BC Ferries in January and will be put into service on the Powell River and Comox route in the spring 2017.

Viking Line Signs LOI for Newbuild LNG-Fuelled RoPax Vessel

"Our intention is for the vessel to run on LNG," said Jan Hanses, Viking Line's CEO of the new order.

Gasfuelled Ships Conference Points to Increased Momentum for LNG Uptake

The Motorship's Gasfuelled Ships conference is noted to have hosted discussion that suggested the "tide is turning" for LNG.

New TRACE, RightShip Partnership Aims to Reduce Charterers' Exposure to Bunker Fraud

"Unfortunately, the vast majority of bunker fraud incidents go unreported," TRACE's Katya Lysova tells Ship & Bunker.

Crude Prices Edge Up

Bunker prices were firm to start in the primary ports.

Former Maersk Executive and TORM Chairman Flemming Ipsen Joins Monjasa

Ipsen was formerly chairman at Torm and a long-time executive at A.P.Moller-Maersk.

Angelicoussis: "No Question" Trump Presidency Will Be Positive for Shipping

Shipping magnate, John Angelicoussis, says a Trump presidency will be positive for the industry in terms of infrastructure expansion.

HMM's Potential 2M Membership in Question Following Seemingly Conflicting Reports

The parties have "decided to look at other co-operation possibilities" with HMM, says Maersk Line.

Promise of Iran/Iraq Cooperation in OPEC Cutback Deal Causes 3 Week Market Highs

But one analyst reminds media that past OPEC deals have "always fallen apart."

Diana Shipping Ends Talks with Lenders Amid Q3 Loss

Discussions with lenders aimed at proposed amendments to the terms of its outstanding loan facilities were concluded without agreement.

Hydrogen Gas "Will Replace Diesel in a Marine Industry that is Forced to Reduce its Emissions"

PowerCell and Swiss Hydrogen have partnered to install and develop a hydrogen fuel cell system on a ship that will be powered by photovoltaics.

OPEC Cutback Deal May Be a Gesture, but it Could Lessen Market Volatility: Goldman

The bank also thinks backwardation is required to prevent U.S. producers from causing another market imbalance.

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