ClassNK gives nod to first ammonia floating storage

ClassNK has issued an approval in principle (AiP) for an ammonia floating storage and regasification barge (A-FSRB) jointly developed by NYK Line, Nihon Shipyard Co (NSY), and IHI Corp (IHI). This is the world’s first AiP for A-FSRBs handling ammonia as cargo. The A-FSRB jointly developed by NYK Line, NSY, and IHI is an offshore

Firm demand, lower output lift VLSFO market higher

Asia’s 0.5% very low-sulphur fuel oil (VLSFO) gained on Monday as firming utilities and bunkering demand for the fuel weighed on already tightening inventories, trade sources said. VLSFO output has declined recently as refiners switched to maximising production of higher value refined fuels amid soaring gasoil and gasoline refining margins. The VLSFO cash premium, front-month