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Italian Saras Group to begin bunkering operations in Cagliari

Saras Group, opetor of the refinery plant based in Sarroch, Sardinia, Italy, published its H1 2019 financial report, according to which it will proceed with its bunkering operations in Cagliari this month. The company will start on August the bunkering business in Cagliari area that is expected to contribute positively to the Group results.

Pacific Basin to install scrubbers in majority of fleet

Pacific Basin, Hong-Kong based dry bulk shipping company, published its 2019 interim results, and revealed its plans to fit scrubbers on a majority of its Supramaxes by the end of 2019. During H1 2019, the company managed to expand its fleet with four secondhand vessels, and also conducted a sale of an older, small Handysize. 

How EU plans for carbon neutrality by 2050 differentiate from IMO’s target

The shipping industry has long been under discussions on finding low carbon solutions for a more sustainable future while IMO’s decision on reducing GHG emissions from ships by 50%, compared to 2008 levels, by 2050. However, the EU seems to have different future plans, as the newly elected European Commission President, Ursula von der Leyen, proposed a carbon-neutral Europe by 2050.

Indonesia will not comply with IMO’s sulphur cap on its domestic fleet

The Indonesian Ministry of Transportation announced that Indonesia will not implement the 2020 suplhur cap regulation on its domestic shipping fleet because of the expense of the cleaner fuel. Thus, Indonesian-flagged vessels will be able to sail burning marine fuels with a maximum 3.5% sulphur content in its territorial waters past 2020 without having to use scrubbers.

Lanka Marine sees rise in profit due to increasing bunker volumes

The John Keells Holdings subsidiary saw a 6% year-on-year increase in bunker volumes and in base fuel prices, which both boosted the company’s revenue and profitability. Based on the company’s Annual report, it reported a 32% year-on-year rise in revenue and EBITDA for the period from 1 April 2018 to 31 March 2019.

CSL Group and Oldendorff Carriers enter Trident Alliance

The Trident Alliance, a network consisting of shipping companies and other interested parties that have the common goal on the transparent enforcement of environmental regulations, welcomes the entry of CSL Group and Oldendorff Carriers as its newest members.   

Green Watch – Future Lookout on upcoming Sulphur Cap challenges

The 2019 Hellenic American Maritime Forum gathered experts from the maritime industry, who provided their knowledge and expertise on critical matters that the industry is currently focusing on. One of the key discussions was about the approaching 2020 sulphur cap and the challenges around it. 

IMO Council 122 session begins

The International Maritime Organization (IMO) Council is conducting its 122nd session this week. Stakeholders from the shipping industry gathered to discuss hot issues that are on the spot and priority as strategy and planning, reform, management, technical, environmental and safety and smart issues.

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