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Caught in the pincer of the dollar and oil prices

Following Turkish President Recep Tayyip Erdoğan 's announcement on 17 April that Turkey will hold snap elections on 24 June, the country has reached a new crossroads; both politically and in terms of the economy. The most important aspect about the snap elections on June 24 is that they will change the country's governmental structure Let’s leave the political implications to the expert and take a look at ...

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Yangzijiang signs LOI with Arista for LNG bulk carriers

China’s Jiangsu Yangzijiang Shipbuilding has signed a Letter of Intent (LOI) for the construction of up to twenty LNG-fueled bulk carriers for Forward Maritime, a part of Arista Shipping Group. The Kamsarmax vessels, to be built under Arista Shipping’s Project Forward initiative, will feature 84,000 dwt. Although Forward Maritime did not provide any details on when it expects to sign firm contracts for the ...

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IMO adopts resolution on greenhouse gas strategy

The International Maritime Organization (IMO) adopted a resolution codifying an initial greenhouse gas (GHG) strategy for international shipping on 12 April. This strategy, which represents the first global climate framework for shipping, includes quantitative GHG reduction targets through 2050 and a list of candidate short-, mid-, and long-term policy measures to help achieve these targets. The strategy im ...

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Viking Grace becomes first passenger ship to use wind-assisted rotor sail

Finnish shipping line Viking Line has equipped its LNG-fueled Viking Grace with a rotor sail to help reduce the vessel’s environmental impact even more by harnessing the power of the wind. The 57,565 GT Viking Grace, which has been in operation since 2013, is already considered one of the most eco-friendly cruise ferries in the world, but the addition of a rotor sail will help the vessel cut fuel consumptio ...

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Tug captains at Panama Canal punished for not assisting vessels through new locks

The Panama Canal Authority (ACP) has announced that it will apply sanctions against certain tugboat captains who recently refused to transit vessels through the canal’s new neopanamax locks, impacting the operations of the Expanded Panama Canal. The union representing the captains, however, says the captains refused because of safety issues. “The decision is based on the fact that these captains of tugboats ...

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Megaprojects seem smaller in scale as oil giants reduce costs

Energy companies will approve spending for about 30 major projects this year, consultancy Wood Mackenzie Ltd. said in an April 5 report. That’s in line with the 32 that were sanctioned last year and more than were approved in 2015 and 2016 combined, when oil prices bottomed out amid a global price crash. Projects launched this year are expected to cost about $2.2 billion each, down from $2.7 billion last ye ...

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Wärtsilä Services Turkey hosted a Marine Customer Seminar in Istanbul

Wärtsilä Services’ Marine Customer Seminar, which took place in Istanbul on 19 April, was about Wärtsilä’s recent developments especially in the areas of maintenance and repair, propulsion and retrofit, along with electrical and automation services. Experts sharing information about the subjects in turn were Naeem Arshad Zubair, South Europe and Africa Area Sales Manager in QuantiServ, who provided the semi ...

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The Standart Club held its annual reception in Istanbul

The Standart P&I Club’s annual reception was held on April 19th, Thursday; at the Four Seasons Istanbul Hotel at the Bosphorus. The Club’s Standart Europe Managing Director James Bean commented; “We’ve been involved in Turkey for a long long time and built up a very good business here, which is very important for us. We’ve got some very high-profile shipowners in Turkey, who’s performed exceptionally we ...

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Damen shipping multiple pontoons to Rotterdam

In early April, Damen loaded 11 flat top pontoons on a vessel in Shanghai to take them to the Netherlands. The SAL Heavy Lift vessel MV Lone loaded onboard a newly built batch of eleven Damen flat top Pontoons in Shanghai. MV Lone is bringing the pontoons to the Netherlands. The majority of the pontoons will be available quickly to Damen’s clients from stock. Mr. Maximillian Karp, Senior Chartering Manager ...

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Nothing will be the same as before!

Global trade wars can now be considered among the rising geopolitical risks that we see across the the world That the US  introduced a tax on steels and the import taxes  against China indicate that this trade war will be a “bloody” one. As the main actors in this trade war are major countries, this indicates that the war is going to affect many emerging markets such as Turkey. According to experts, nothing ...

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