Times are good for Scorpio a Monaco-based tanker owner who have managed to get commitments of USD 195.9 million worth of loans from four European banks. A whopping amount of USD 53.9 million would be provided via three separate loan facilities, of new liquidity in aggregate after the repayment of USD 142 million of existing…
The cruise industry is a unique, luxurious and comparatively new segment of travel that has emerged since 1970 and has been gaining increasing popularity since then. The cruise industry is among the most exciting and fast-growing categories in the leisure market. Cruise ship industry has had average passenger growth rate of 7.2% per year since…
The Monaco based company Scorpio, which was recently in news for opting out of the use of scrubbers for the reduction of Sulphur induced pollution and using LNG or low Sulphur oil fuel is once again in the news. Scorpio recently reached an agreement to sell and leaseback six MR product tankers to CMB Financial…
The Indian Centre of Excellence in Maritime & Shipbuilding (CEMS), a state-of-art start-up in skill development sector for maritime and shipbuilding, have planned and announced the making of 24 Labs for training -6 in Mumbai and 18 in Vizag. A variety of courses are being offered. The labs being set up include Advance Manufacturing, Automation,…
A pure product tanker company named Scorpio based in Monaco has decided to use compliant fuels to meet the Sulphur cap of IMO. The fuel their ships trading outside of Sulphur Emission Control Areas, popularly known as ECAs can use should have a Sulphur content of not more than 0.5 pct. It is considerably less than the…
Italy’s abrupt refusal to dock a humanitarian vessel (MS Aquarius) carrying more than 600 immigrants have raised questions at several levels – Is it legal to refuse ships to dock? Who is responsible for legal support of refugees? How welcoming should Europe be in such a situation? According to The United Nations Convention on the…
Lloyd’s Register has approved new prismatic IMO Type B independent cargo tanks, so-called ACTIB (Aluminium Cargo Tank Independent Type B). The initial approval is for use in a DSME-developed 210,000 m3 STD LNG-RV design in accordance with LR’s Guidance notes for liquefied gas carriers and floating offshore installations adopting IMO Type B independent tanks primarily…
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