Home / Author Archives: hellenicshippingnews..

Author Archives: hellenicshippingnews..

Growing trend of cargo owners, refiners offering scrubbers to shipowners

The Asian market has seen a growing trend of scrubbers being offered to shipowners at no outright cost, with both refiners and cargo owners making the offer to shipowners, said market sources this week. The trend in particular, has been fairly widespread in Northeast Asia, especially Japan and South Korea, sources added. This comes 2.5 years ahead of the International Maritime Organization’s mandate that all vessels in 2020 would have to comply with a 0.5% global sulfur cap for the marine industry, from 3.5% currently. The proposal so far in ...

Read More »

Dry Bulk FFA: Capesize Market Sees Buyers’ Resilience

Capesize Commentary Continuing the animal theme of recent days, yesterday the cape paper market and its participants could be well likened to a Tardigrade. Tardigrades are often called moss piglets and are near microscopic animals with long, plump bodies and scrunched up heads. They have 8 legs and hands with 4-8 claws on each. While strangely cute these animals are indestructible and can survive in outer space. You can boil them, freeze them, crush them, dry them out and yet they survive it all and come back for more. After ...

Read More »

Drewry: World Container Index Down by 1%

The World Container Index assessed by Drewry, a composite of container freight rates on 8 major routes to/from the US, Europe and Asia, is down by 1% to $1406.54/40ft container [updated Thurs, 27 Jul 17]. Two-year spot freight rate trend for the World Container Index: World Container Index: Drewry assessment on Thursday, 27 July 2017 The composite index is down by 1% this week and up by 19% from the same period of 2016. The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1,542/40ft container, ...

Read More »

Clipper Oil Provides Marine Oil to Vessels across the Pacific

Clipper Oil is a worldwide supplier of marine fuels and lubricants to a wide variety of vessels including fishing fleets, ocean-going yachts, cruise ships, cargo ships, military vessels, and power plants. Based in San Diego, California, Clipper Oil has been providing quality marine fuels and lubricants since 1985. Clipper Oil was founded by George Alameda and Lou Brito, who were both pioneers of the tuna fishing industry in San Diego. Clipper Oil specializes in providing competitively-priced, high-quality fuel in a variety of ports throughout the Pacific. During a recent interview, ...

Read More »

RS has implemented the research results involving development into the normative base in the field of maritime operations safety

A new revision of the Rules for Planning and Execution of Marine Operations entered into force. Subsequent to the results of research held in 2016, Part IV “Safety Assessment” has been considerably revised and dedicated to risk analysis and elaboration of measures to prevent possible emergencies and reduce their consequences during maritime operations. The standard hazards and emergencies during various maritime operations have been revealed in the Rules as regards the equipment for offshore oil and gas development facilities. Recommendations are set forth on monitoring and managing risks with detailed ...

Read More »

Deepening Recession 62% of Shipyards Worldwide Shut Down

With domestic shipbuilders suspending the operation of their docks due to ongoing sluggish demand, six out of 10 dockyards worldwide have shut down in the past nine years. According to a report from U.K.-based shipping and shipbuilding market analysis firm Clarkson Research, there were a total of 934 “active” shipyards globally in 2009. At that time, many firms scrambled to build shipyards to meet the demand in the peak of the shipbuilding cycle from 2007 to 2008. This number has now dropped by 62% to stand at 358 yards as ...

Read More »

France nationalises shipyard to thwart Italian majority, angering Rome

France will nationalise the STX France shipyard to prevent an Italian firm taking majority control, the economy minister said, triggering an angry response from Rome to President Emmanuel Macron’s first big industrial policy decision. As France’s most avowedly pro-business leader in decades, few would have predicted the former investment banker’s first big move in the corporate sector would be a nationalisation, even if the government says it will only be temporary. However, his action, which added further strain to France’s relationship with Italy, fits with the interventionist style of other ...

Read More »

S. Korea’s seaport cargo up 5.2 pct in H1

Cargo processed at South Korean seaports rose more than 5 percent during the first six months of the year on brisk outbound shipments, government data showed Thursday. Cargo handled at the country’s ports came to 789.16 million tons in the January-June period, up 52 percent from 750 million tons tallied a year earlier, according to data by the Ministry of Oceans and Fisheries. Non-container cargo gained 2.3 percent on-year to 548.11 million tons over the cited period, while container freight rose 5.1 percent to 13.46 million twenty-foot equivalent units (TEUs). ...

Read More »

Statement Port of Rotterdam barge waiting times

Over the past few weeks, the Port Authority has received a number of signals about increasing waiting times for inland vessels at the container terminals in Rotterdam’s port area. Various inland shipping and transport organisations in the Netherlands and abroad have expressed their concerns about what they see as overly long waiting times – both in the ports of Rotterdam and Antwerp. Of course, as the Port Authority, we take these concerns very seriously. We realise that companies may well experience regularly-increasing waiting times as a structural problem, and that ...

Read More »

Valencia upgrades to accommodate 20,000 teu ships

Valencia Port Authority (APV) is to dredge 690,000 cubic metres to deepen existing quays to accommodate vessels of up to 20,000 teu. The recovered spoil will then be used as infill material for Phase I of the new northern container terminal. The work, which will cost €5.2m, should see both projects finished in mid-2018. APV is investing a total of €18m to allow all three of its container terminals to handle the latest generation of box ship. Alongside draft is being deepened to a depth of 17m-18m. Once work is ...

Read More »

Why record U.S. oil exports are poised for even more growth

U.S. refineries are producing more fuel than ever as they seek to meet rising demand – from overseas, rather than the drivers on nearby roadways. Last year, the U.S. became the world’s top net exporter of fuel, an outgrowth of booming domestic production since the shale oil revolution started in 2010. That’s a fundamental shift from the traditional U.S. role in global markets as a top importer and consumer. Net exports are on track to hit another record in 2017, making foreign fuel markets increasingly important for the future growth ...

Read More »

Angola LNG issues sell-tender for prompt early-August loading cargo

Angola LNG on Wednesday issued a fresh sell-tender for a single shipment loading on August 1-3, according to two market sources. The tender is calling for bids to be submitted by July 31, and will remain valid until August 2. The LNG cargo has some destination restrictions, with the project limiting cargoes shipped to the east of Suez no further than the port of Singapore, according to one market source. This would exclude all of North Asia’s terminals, including those in China, Taiwan, Japan and South Korea. Angola LNG was ...

Read More »

Algeria gas exports to reach 54 bcm in 2017 – Sonatrach chief

Algeria’s gas exports should reach 54 billion cubic metres (bcm) this year, up from 51 bcm in 2016, as the new Reggane and Touat fields come on stream, the chief of state-run energy company Sonatrach said. Sonatrach CEO Abdelmoumen Ould Kaddour told reporters on a visit to Hassi Rmel gasfield that it was going to be “very hard” to meet both growing domestic demand and export needs for clients, mainly European markets. “We do have a shortage of 50 million cubic metres per day that we need to find somewhere,” ...

Read More »

Dry weather diminishes outlook for global grain crops – IGC

The International Grains Council cut its forecasts for 2017/18 global corn, wheat and barley crops after prospects took a hit from dry weather in several countries. “Because of overly dry weather, including in North America, the EU and Australia, the outlooks for global corn, wheat and barley harvests are revised lower,” the IGC said in a monthly update, adding rains would likely be too late to reverse damage in some areas. The IGC cut its forecast for the global corn crop by 5 million tonnes to 1.02 billion tonnes, driven ...

Read More »

Iron’s Jekyll-and-Hyde Moment Shows This Rally’s `Dangerous’

Iron ore’s latest rally has run beyond fundamentals and there’s a risk of a sharp reversal as prices tumble back below $50 a metric ton next year, according to Westpac Banking Corp. Senior Economist Justin Smirk, who says the raw material has something of a split nature. “Most commodities are pretty Jekyll-and-Hyde,” Smirk said in an interview. “Iron ore does fit that trend. Hyde is meant to be angry, Jekyll is meant to lovely and nice,” he said, referring to the principal character in Robert Louis Stevenson’s 19th century classic ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping