• 2018 October 13 09:06

    OOCL fleet moves forward to meet IMO 2020 regulation

    With new Sulphur cap on marine fuel lowering from 3.5% to 0.5%, approximately 85% of Sulphur emissions is expected to be reduced but at a significant cost to the entire industry, estimated at about US$60 billion each year.

    Currently, the industry has been grappling with the challenges associated to fleet adjustment options, including uncertainties in the availability and accessibility of the 0.5% Low Sulphur Fuel (LSF) in the market and the premium that will be charged for the cleaner fuel. OOCL will begin its transition into the use of LSF for our entire fleet during the second half of 2019, the company said in its press release.

    By looking into the expected bunker consumption of its fleet and the projected price difference from switching to the compliant fuel which may possibly become increasingly expensive due to tight supply in the market, OOCL expects the additional cost impact to easily fall well above half a billion dollars.

    In preparation for the surge in this operating cost and in consideration of the continual trend of rising fuel prices in the market, OOCL will be introducing a bunker recovery approach based on a floating bunker formula that will better reflect the changes in the industry environment. This approach will take various factors into account, including the different fuel types being used, fuel price fluctuations, ship size and capacity, and vessel utilization levels.

    “Orient Overseas Container Line" and “OOCL" are trade names for transportation provided separately by: Orient Overseas Container Line Limited (“OOCLL") and OOCL (Europe) Limited respectively and both are wholly-owned subsidiaries of Orient Overseas (International) Limited, a public company (0316) listed on the Hong Kong Stock Exchange. Headquartered in Hong Kong, OOCL is one of the world's largest integrated international container transportation and logistics companies, with more than 360 offices in 70 countries. Linking Asia, Europe, North America, the Mediterranean, the Indian sub-continent, the Middle East and Australia/New Zealand, the company offers transportation services to all major east/west trading economies of the world. OOCL is one of the leading international carriers serving China, providing a full range of logistics and transportation services throughout the country. It is also an industry leader in the use of information technology and e-commerce to manage the entire cargo process.




2021 June 14

15:52 ABS and 22 industry players to study ammonia as an alternative marine fuel
15:18 ICS Guidance for Ship Operators and Roadmap for vaccination of seafarers
14:09 Bollinger submits proposal for U.S. Coast Guard Heritage-class offshore patrol cutter
13:19 Genco to jointly study ammonia as an alternative marine fuel
12:31 Wärtsilä brings Power-to-X technology to World Expo
11:57 Trafigura joins cross industry study into the adoption of green ammonia as an alternative marine fuel
11:24 DFDS: Freight up 31% following lockdowns in 2020
10:32 SEACOR Marine announces debt payoff agreement
09:47 Kick off “Joint Study” framework for studying ammonia as an alternative marine fuel
09:13 MABUX: bunker indexes may change irregularly on June 14

2021 June 13

15:31 Petrobras signs contract for the supply of eighth Búzios unit
14:18 Lyon Shipyard to invest $24.4 million to expand its operation in the City of Norfolk
13:29 Shearwater GeoServices recycles Western Trident as part of its fleet renewal strategy
12:41 MCA to carry out unannounced inspections of fishing vessels
11:42 The 126-passenger expedition cruise vessel National Geographic Resolution hits the water
10:56 Saipem: Inauguration of Saipem Guyana offshore construction facility in Georgetown

2021 June 12

16:09 Fred. Olsen Cruise Lines unveils brand new sailings aboard new ships Bolette and Borealis in 2022
14:21 "Blowdown" to reduce risk and raise decommissioning progress
13:42 Roambee announces a strategic investment from and partnership with PSA unboXed
13:19 Belfast Harbour awards £25,000 to community projects
12:41 Maurice GEORGES named as new Chair of the Executive Board of Dunkerque-Port
11:38 AIDA Cruises resumes holiday voyages from July 29, 2021
10:52 OptiLink: A digital revolution in ballast water management

2021 June 11

18:07 LNG consumption as a marine fuel has almost doubled in 2020
17:31 Hapag-Lloyd to provide full transparency on vessel arrivals
17:09 MOL joins international think tank and accelerate development for carbon capture, utilization and storage
16:58 GTT obtains tank design order for two new LNG carriers from Samsung Heavy Industries
16:52 Shipping industry welcomes Nigeria’s creation of ‘Deep Blue’ to stamp out piracy in the Gulf of Guinea
16:24 Stena Line will move its Europoort-Killingholme service to Immingham
16:00 Yantar shipyard to build rescue ship of Project MPSV06M for Marine Recue Service
15:36 Sea Port of Saint-Petersburg hosts introductory practical training for students
15:13 The Port of Rotterdam Authority, Customs, Fresh Produce Centre and Portbase join forces to facilitate the growth market of refrigerated products
14:25 Seanergy takes delivery of two Capesize vessels with prompt commencement of period charters
13:51 Total throughput at the ports of Bremen increases once again during Q1 4 June 2021
13:32 Roman Gorgutsa appointed as General Director of Morstroytechnology
13:28 Mitsui E&S Machinery and 22 industry players kick off studying ammonia as an alternative marine fuel
13:04 MOL and ACSL use flying drone to conduct autonomous inspection of vessel holds under non GNSS and dark environment
12:49 Port of Los Angeles becames the first port in the Western Hemisphere to process 10 million container units in a 12‑month period
12:38 Oboronlogistics receives RS certificate on safety management of cargo ship Sparta
12:14 CNES and CMA CGM sign unique partnership agreement to spawn innovative solutions for shipping, logistics and the space industry
12:01 APM Terminals continues roll-out of digital export processing at Russian terminals
11:57 Russian Railways: Loading of export cargo bound for domestic ports grew by 8% in 5M’21
11:34 RS and GTT sign new cooperation agreement
11:33 Xeneta selects CLIVE Data Services’ ‘dynamic loadfactor’ data and analyses to deliver complete air cargo market intelligence
11:11 Stagnation in R&D investment creating unacceptable risk for industry zero emissions future - ICS
10:50 Throughput of port Riga (Latvia) in 5M’2021 dropped by 15.1%
10:29 Rosneft agrees heads of terms to sell a stake in the Vostok Oil Project to a consortium of Vitol and Mercantile & Maritime
10:08 DRAX and Mitsubishi Heavy Industries sign pioneering deal towards delivery of the world’s largest negative emissions project
09:52 Throughput of Russian seaports in 5M’2021 fell by 2.7% Y-o-Y
09:40 Oil prices continue decreasing
09:23 Baltic Dry Index as of June 10
09:16 MABUX: Global bunker prices may rise slightly on June 11.
09:04 The port of Rotterdam Authority intends to build brand new port information centre
08:02 Rolls-Royce to showcase future South Korean naval power and propulsion

2021 June 10

18:45 Equinor sells its refining business in Denmark to Klesch
18:25 Rolls-Royce builds new fuel cell demonstrator to ensure electricity supplies
18:05 DNV predicts that marine finfish production in deeper waters offshore will take a 13% market share in 2050
18:00 Comprehensive programme on development of Yamal resource potential to be developed by October 2021
17:51 Contract awards for PSVs in UK
17:50 BC Ferries' fourth Island Class ferry departs Romania on Transatlantic voyage bound for B.C.