Ship scrapping in the Asian sub-contentinent

Tankers have been off limits after a fatal explosion on the Suezmax tanker Aces killed 18 yard workers in November 2016.

LPG tanker Crystal Sunrise

Two tankers collided off the coast of Singapore on 17 April, resulting in butane gas leak, although no casualties have been reported. 

MR tanker Zhongji No 2

Zhongji International Shipping, once part of Grand China Logistics, has sold its entire two-tanker fleet.

1985-built VLGC Isis Gas

VLCC tonnage heading for demolition appears to be slowing down on the back of softening prices as the reopening of Pakistan for tanker vessels has not yet been finalised.

Bahri vessel

The Saudi shipping company is expected to benefit from an agreement last week between Saudi Aramco and an Indian consortium to build an Indian refinery complex.

NYK Line logo

Japan’s NYK Line will issue USD93.5 million of green bonds for LNG newbuildings and bunkering.

Hyundai Heavy Industries CEO Kwon Oh-gap

South Korean shipbuilder Hyundai Heavy Industries has set a target of USD65 billion in revenue by 2022 through its focus on high-end ships such as LNG carriers and launching new businesses.

Hyundai Heavy Industries’ yard

Sovcomflot and Knutsen OAS Shipping each have declared options for a 96,000 m³ LNG carrier at Hyundai Heavy Industries for an undisclosed sum.

An older vessel

The International Maritime Organization’s stringent global cap on sulphur emissions and a sharp rise in fuel bills could encourage further demolition of older vessels when emission regulations come into force from 1 January 2020.

An LPG tanker, 2001-built Gas Taurus

Japan’s Astomos Energy Corporation aims to explore the development of LPG bunkering in line with the IMO’s mandate for marine fuels by 2020.