GILLS PTE wins BV air lubrication system approval May 10, 2021, by Fatima Bahtić
Singapore-based company GILLS PTE has secured Approval in Principle (AiP) for its GILLS Air Lubrication System from the classification society Bureau Veritas.
The company has developed a gas-injected liquid lubrication system (GILLS) to drive energy efficiency and reduce fuel consumption in the shipping industry. As disclosed, the fuel savings achieved by the system reach approximately 10 percent.
Courtesy of GILLS PTE
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The GILLS systems have been installed on an existing vessel for a number of years now and the vessel owners are confident that the fuel savings are approximately 10%,”
Safe Bulkers, Inc. Reports Stronger First Quarter 2021 Results As Market Improves
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced yesterday its unaudited financial results for the three month period ended March 31, 2021.
Management Commentary
Dr. Loukas Barmparis, President of the Company, said: “During the first quarter of 2021 we increased our profitability and strengthened our balance sheet. We intend to continue our efforts to gradually renew our fleet through selective sales of older vessels and new acquisitions. We are focused on our environmental performance and will continue to invest to improve our operations in this area. We believe our environmental investments will contribute to sustained operational and financial advantages.”
Safe Bulkers, a shipping company with bulk cargo vessels, went into profitability in the first quarter of 2021, as a result of the improved conditions in the freight market and the large increase in fares during the current year compared to the first quarter of 2020.
The revenue of Poly Hatziioannou’s company in the first quarter of 2021 amounted to $ 62.5 million against $ 45.7 million in the corresponding period of 2020 while profits reached $ 21.3 million against losses $9.9 million registered in the first quarter of 2020. Adjusted EBITDA amounted to $34.6 million compared to $9.4 million a year earlier.
According to the president of NYSE listed company Safe Bulkers, Mr. Loukas Barbaris, during the first quarter of this year, the company increased its profitability and strengthened its balance sheet, while continuing the process of renewing its fleet by selling older ships. and the acquisition of other newer ones.
With President Joe Biden’s 100th-day milestone on April 30, 2021, the U.S. Coast Guard is holding a steady course on its expectations, including those related to environmental stewardship, innovation and cybersecurity. (See Holland & Knight Transportation’s previous article, “Steady as She Goes: Three Expectations for the Coast Guard Under the Biden Administration” from Jan. 8, 2021) In fact, emerging commercial opportunities in areas involving renewable energy, innovative and novel technologies, and alternate marine fuels have already come to surface in the first few months of the Biden Administration. In addition, pending bills on Capitol Hill with a maritime nexus will merit further engagement for stakeholders seeking to help shape future legislation while ensuring regulatory compliance.
Keeping It Steady as She Goes: Coast Guard Living Up to Its Three Expectations – gCaptain gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.