New York-listed oil tanker shipping firm Frontline Thursday announced that it has entered into memorandum of agreement (MOA) to acquire a 20% stake in exhaust gas cleaning systems manufacturer Feen Marine Scrubbers Inc (FMSI).
The development includes an intention to order FMSI exhaust gas cleaning systems for 14 vessels, with options to order an additional 22 systems at fixed prices.
“The economic case to install scrubbers is very compelling, particularly for larger vessels,” said Robert Hvide Macleod, CEO of Frontline Management.
“Scrubbers installed on existing vessels provide the same benefit as those delivered from the yard on newbuildings and our solution comes at a much cheaper cost.
“Additionally, this transaction allows Frontline to secure the capacity to source a large volume of scrubbers, which we believe will present a challenge to many owners as the deadline for sulphur emissions compliance approaches.
“Our relationship with Feen Marine has been structured in a manner that will be beneficial to both parties and would not have been possible absent our significant commercial scale and long-standing industry relationships.”
Bjørnar Feen, Founder of Feen Marine Scrubbers is “extremely pleased” about the partnership with Frontline.
“We believe that this memorandum of agreement is indicative of both Frontline’s industry-leading approach to managing its fleet as well as the high quality EGCS systems Feen Marine produces,” he says.
“We are proud that some of the world’s largest shipping and trading companies, including Frontline, Navig8 Group and Trafigura have chosen Feen Marine as their main provider of EGCS systems.”
Photo credit: Feen Marine Scrubbers
Published: 29 June, 2018
Bunker quality claims are not new to the industry, but these claims going global indicate an issue with the stability of low sulphur fuel.
Cold Flow is nothing new, but the idiosyncrasies of the industry allow fuel blenders to thrive within the ‘grey areas’ with regards to quality, it said.
OGVs which have visited Group A (high-risk) countries required to undergo quarantine and self-monitoring before conducting bunkering operations.
Ras Al Khaimah is home to one of the world’s largest limestone quarries; the four RAK ports handle around 2,000 vessels yearly and aims for expansion.
Introduces new Chairman, shift of corporate headquarters, ‘stable’ Q1 operations, and more.
MSC expected to become permanent number one in 1H 2022, when numerous large newbuilt container ships are scheduled to be delivered to the carrier.
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.
