Genco Shipping & Trading Limited Implements Comprehensive Fleet Plan Ahead of IMO 2020 Regulations

Genco Shipping & Trading Limited announced that it plans to install exhaust gas cleaning systems (“scrubbers”) on its 17 Capesize vessels with options for installation on an additional 15 minor bulk vessels. The balance of the fleet is expected to consume compliant, low sulphur fuel beginning in 2020, when new environmental regulations come into effect
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Prime scrap moved up $20/lt and obsolete scrap moved up $10/lt in early trading around Detroit on Wednesday, while a bid/offer gap between steel mills and their ferrous scrap suppliers kept things at a standstill in most other regions. Aggressive demand for prime scrap by one major mill group stoked supplier optimism. The major mill
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NEW DELHI: Finance Minister Arun Jaitley recently said the ongoing global trade war may have created initial instability, but will gradually open up opportunities for India as a bigger trading and manufacturing base. Speaking at the annual session of PHD Chamber of Commerce, Jaitley said some global trends do adversely affect India, but going ahead
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At yesterday’s IUMI conference in Cape Town, Chair of the Ocean Hull Committee, Mark Edmondson, highlighted a continuing deterioration of premium income against the more positive picture of an improving risk profile. However, the international market has shown signs of improvement during 2018, although continuing volatility and uncertainty in many sectors remained a concern. “Whilst
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BP Singapore has merged its fuel oil and gasoil trading teams ahead of the implementation of a tougher sulfur cap on bunker fuel from 2020, trade sources said this week. This could not be confirmed directly with BP at time of publication. The International Maritime Organization’s global bunker sulfur cap is due to fall to
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SHANGHAI: The inauguration ceremony and promotion meeting of COSCO SHIPPING FURUNO Navigation Technology (Shanghai) Co., Ltd. was held at the COSCO SHIPPING headquarters in Shanghai on the afternoon of September 10. The company was a joint venture of COSCO SHIPPING’s subsidiary COSCO SHIPPING Technology Co., Ltd. (CS Tech), Furuno Electric Co., Ltd. (FURUNO) and Heisei
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Davies Turner, the UK’s largest independent freight forwarding company, remains positive about the trading outlook for Turkey despite the country’s ongoing economic crisis and depreciating currency. The company Chairman, Mr Philip Stephenson, says that the weakened Turkish lira and escalating tariff war between the US and Turkey might make life harder for British exporters but
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The Government needs to look into the problems being faced by exporters shipping consignments to Iran in view of the increasing threat of US economic sanctions against the Persian Gulf nation, FIEO said recently. Federation of Indian Export Organisations (FIEO) President Mr. Ganesh Gupta said that the rupee account currently used for payment settlement has
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OHANNESBURG:The BRICS nations has resolved to strengthen multilateral trading system and called upon member countries of the World Trade Organisation to abide by the rules, amid ongoing trade disputes between major economies. India, China, Brazil, Russia and South Africa also re-affirmed the centrality of the “rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system”. “We
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Grindrod Shipping Holdings, a Singapore-based provider of maritime transportation services in the drybulk and liquid-bulk sectors, began trading on NASDAQ on June 18.  Grindrod Shipping holds the shipping business spun out of Grindrod Limited, a company listed on the Johannesburg Stock Exchange. Following the listing, Grindrod Shipping will be an independent, publicly traded company with
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