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IMO 2020

2020: Golden Ocean removes older tonnage, places 16-scrubber order

Developments to position the company ahead of the implementation of sulphur caps, says CEO.

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International dry bulk shipping company Golden Ocean Friday says it is making several arrangements to get ready for IMO2020, when the global 0.5% sulphur cap for marine fuel kicks in.

The company has entered into an agreement to purchase 16 exhaust gas scrubbers with an option to purchase nine additional scrubbers to be installed on certain of its Capesize vessels, it notes in the financial report for the three months ended June 30 (Q2) of 2018.

The initial 16 scrubbers will be installed during routine dry docking schedules, with the majority of installations to be completed in 2019 or early 2020.
It is further planning to remove older vessels from its fleet ahead of the introduction of the ballast water treatment system (BWTS).

“With the upcoming regulatory changes related to sulphur emissions that come into effect in 2020, much of the focus in the sales and purchase market has been on modern tonnage,” it explains.

“Newbuilding prices have also continued to trend upwards, and newbuilding orders have slowed, which is a positive for the longer-term fundamentals of the market.”

The company believes the impact of new regulations to reduce sulphur emissions starting in 2020 will be felt across the whole shipping industry.

It forecasts the cost of fuel is expected to rise, with the differential between high sulphur fuel and low sulphur compliant fuel is expected to stay wide; which will significantly increase the competitive advantage of fuel efficient vessels.

“The company is well-positioned ahead of the implementation of these regulations with a modern, fuel efficient fleet with an average age of five years,” it notes.

“The average age of the company’s Capesize vessels is slightly above four years.

“The company’s decision to install scrubbers on certain of its vessels coincident with dry dockings in 2019 and early 2020 is expected to further increase the company’s competitive position.

“The company will continue to evaluate its options for further scrubber installations, and if it decides to install scrubbers on additional vessels installations will most likely be timed with future scheduled vessel dry-dockings.”

Golden Ocean posted net profit of USD $8.98 million in Q2 2018, from net loss of USD $11.96 million in Q2 2017; revenue was USD $140.89 million against USD $290.83 million during the comparative period.

“Golden Ocean generated positive results once again in the second quarter. The market continues to strengthen over the summer, in particular for Capesize vessels,” said Birgitte Ringstad Vartdal, CEO of Golden Ocean Management AS.

“The company is currently benefiting from the strategic decision to focus our fleet on larger vessel classes as this maximizes the company’s leverage to improving markets.

“We have a fleet of modern, fuel efficient vessels, and the steps we are taking to optimise the fleet by installing scrubbers will further position the company ahead of the implementation of new caps on sulphur emissions.”

Published: 20 August, 2018
 

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Alternative Fuels

EPS, DongHwa Entec partner on compressor installation for new LNG-fuelled boxship

Singapore-based Eastern Pacific Shipping and DongHwa Entec will collaborate on development and installation of a High-Pressure Compressor for an 18,000 TEU LNG-fuelled container ship.

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EPS, DongHwa Entec partner on compressor installation for new LNG-fuelled boxship

Singapore-based Eastern Pacific Shipping (EPS) and marine engineering solutions provider DongHwa Entec (DHE) on Monday (10 March) announced their collaboration on the development and installation of a High-Pressure (HP) Compressor for an 18,000 TEU LNG-fuelled container ship under construction at China’s NTS Shipyard. 

The companies said the initiative marks a significant advancement in LNG fuel gas supply systems, reinforcing both companies’ commitment to sustainability and technological innovation.

This collaboration optimizes the utilisation of Boil-Off Gas (BOG) to enhance fuel efficiency and, in return, significantly reduce environmental impact. With the HP Compressor integrated, the vessel will be able to channel BOG directly into the main engine, minimising emissions and maximising fuel efficiency, a major leap forward in decarbonizing shipping operations.

As a manufacturing-based engineering specialist with expertise in gas fuel supply systems, cargo handling system (CHS) and other gaseous process advanced system solutions, DHE is strengthening its leadership in sustainable marine engineering solutions. 

Its affiliate, DongHwa Pneutec, a recognised leader in compressor manufacturing, traditionally specialised in Low-Pressure (LP) Compressors, will expand its product range to include HP Compressors with this project, broadening its expertise and market reach in advanced LNG technologies.

“This collaboration underscores EPS and DHE’s shared vision for a greener maritime industry, driving innovation, efficiency, and environmental responsibility. By advancing LNG fuel technologies, both companies will stay committed to pushing the boundaries of sustainable shipping,” it said.

 

Photo credit: Eastern Pacific Shipping
Published: 12 March, 2025

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Port & Regulatory

MPA informs Singapore shipping community of resolutions adopted at MEPC 82

MEPC 82 was held from 30 September 2024 to 04 October 2024; MPA urges the shipping community to prepare for the implementation of the resolutions.

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MPA patrol vessels

The Maritime and Port Authority of Singapore (MPA) on Saturday (28 December) issued Shipping Circular No. 18 of 2024 informing shipowners, ship managers, operators, agents and masters of Singapore-registered ships of resolutions adopted at 82nd session of the Marine Environment Protection Committee (MEPC 82).

MEPC 82 was held from 30 September 2024 to 04 October 2024; MPA urges the shipping community to prepare for the implementation of these resolutions:

Resolution MEPC.392(82) – Amendments to MARPOL Annex VI (Designation of the Canadian Arctic and the Norwegian Sea as Emission Control Areas for Nitrogen Oxides, Sulphur Oxides and
Particulate Matter, as appropriate).

This resolution adopts amendments to the International Convention for the Prevention of Pollution from Ships, 1973, as modified by the Protocols of 1978 and 1997 relating thereto (MARPOL), Annex VI, to designate the Canadian Arctic and the Norwegian Sea as Emission Control Areas (ECA)
for Nitrogen Oxides, Sulphur Oxides and Particulate Matter. The amendments will enter into force on 01 March 2026 and will be given effect through amendments to the Prevention of Pollution of the Sea (Air Pollution) Regulations 2022.

The Canadian Arctic ECA will be applicable to ships constructed on or after 01 January 2025, while the Norwegian Sea ECA will be applicable to ships constructed on or after 01 March 2026, including a “three dates criteria” of date of building contract; keel laying date; and delivery date, to be reflected
as amendments to the Supplement to International Air Pollution Prevention Certificate (IAPP Certificate).

Resolution MEPC.393(82) – Guidance On Best Practice On Recommendatory Goal-Based Control Measures To Reduce The Impact On The Arctic Of Black Carbon Emissions From International
Shipping

This resolution adopts Guidance on best practice on recommendatory goal-based control measures to reduce the impact on the Arctic of Black Carbon emissions from international shipping. It is intended to assist ship operators/companies in their efforts to reduce Black Carbon emissions from
their ships operating in or near the Arctic in measurable and concrete ways.

Resolution MEPC.394(82) – Guidelines On Recommendatory Black Carbon Emission Measurement, Monitoring And Reporting

This resolution adopts Guidelines on recommendatory Black Carbon emission measurement, monitoring and reporting. It specifies recommendations for the measurement, monitoring and reporting of Black Carbon emissions data from marine diesel engines or exhaust gas treatment
systems, in combination or individually, to enhance development of recommendations and regulations to reduce the impact on the Arctic of Black Carbon emissions.

Resolution MEPC.395(82) – 2024 Guidelines For The Development Of A Ship Energy Efficiency Management Plan (SEEMP)

This resolution adopts the 2024 Guidelines for the development of a SEEMP to have a more consistent methodology for fuel oil reporting, taking into account the data collected in the IMO Ship Fuel Oil Consumption Database (IMO DCS) thus far. This resolution revokes Resolution MEPC.346(78).

Resolution MEPC.396(82) – Designation Of The Nusa Penida Islands And Gili Matra Islands In Lombok Strait As A Particularly Sensitive Sea Area (PSSA)

This resolution designates the Nusa Penida Islands and Gili Matra Islands in Lombok Strait as a PSSA, with the Associated Protective Measures (APMs) being the previously established Traffic Separation Scheme (TSS) which entered into force on 01 July 2019.

Editor’s note: The full Shipping Circular No. 18 of 2024 document may be obtained from MPA’s official website here.

 

Photo credit: Manifold Times
Published: 30 December 2024

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Port & Regulatory

Philippines to mandate 0.50% sulphur cap for domestic shipping industry in 2025

Domestic shipping firms may extend the compliance deadline based on the Ship-specific implementation Plan timelines, but not exceeding five years.

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MARINE IMO 2020 advisory

The Maritime Industry Authority (MARINA) of the Republic of the Philippines will be implementing a 0.50% sulphur cap for bunker fuel consumed by the country’s domestic shipping industry effective 1 January 2025, it said.

MARINA Advisory No. 2024-35, published on 22 October 2024, provided supplemental guidelines on the implementation, monitoring and enforcement of MARINA Circular No. SR-2020-06 “Rules and Regulations on the Mandatory Use of 0.50% M/M Sulphur Limit on Fuel Oil for all Philippine Registered Ships in Compliance to Annex VI of MARPOL 73/78, as amended”.

MARINA MC No. SR2020-06 specifically covers ships which are utilising heavy sulphur fuel oil and are therefore mandated to shift to fuel oil with low sulphur content of .50% in/in or below, effective 01 January 2025, noted the advisory.

Ships which are already using Distillates (MGO, MDO, IDO) or bIends may shift to fuel oil with .50% mass/mass sulphur content and are required to accomplish a Ship-specific implementation Plan (SIP) to be attached to the Ship's SMS Manual.

The Administration, meanwhile, noted domestic shipping firms may extend the compliance deadline based on the SIP timelines as verified by MARINA, but not to exceed five (5) years.

No extension of deadline shall be allowed if there is no SIP submitted by 01 July 2024.

Editor’s note: The complete MARINA Advisory No. 2024-35 document may be obtained from the official MARINE website here.

 

Photo credit: Maritime Industry Authority
Published: 30 December 2024

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