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Ship operating costs stabilise as market recovery lifts pressure

The cost of operating cargo ships rose marginally in 2017 following two consecutive years of falls, but shipowners should prepare for higher costs led by a spike in insurance premiums, according to the latest Ship Operating Costs Annual Review and Forecast 2017/18 report published by global shipping consultancy Drewry. After two years of marked decline, average vessel operating costs stabilised in 2017 as pressure on owners was lifted by a nascent recovery across most cargo shipping markets. Trends in ship operating costs are heavily linked to developments in the wider ...

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Container freight market: East Coast North America to UK Continent route increases by $50 to $550/FEU

The S&P Global Platts Container Index fell $17.50 in the week ending November 17 to $913.83 as fundamentals seemed to have won the battle from the previous week as the most head-haul routes dropped $50 last week, the North Asia to Mediterranean and North Asia to UK and North Continent routes in particular, ending the week at $950/FEU and $1,150/FEU, respectively. Both these routes had quotes lower than these assessments so they could fall further this week. There are some supply-chain issues that are causing spot rates to diverge for ...

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Shipping Must be Economically Sustainable if it is to Deliver on Environmental Sustainability, ICS tells OECD

Addressing government trade negotiators in the OECD Working Party on Shipbuilding at a workshop on ‘green growth’ in Paris today, the International Chamber of Shipping (ICS) asserted that the shipping industry could only be environmentally sustainable if it is economically sustainable too. ‘The perennial challenge facing shipowners is overcapacity, aided and abetted by government subsidies and support measures that encourage shipyards to produce ships that are surplus to requirements’ said ICS Director of Policy Simon Bennett. ‘If governments are serious about helping the shipping industry deliver on the United Nations ...

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ARA gasoline stocks edge higher; naphtha stocks plunge to nine-month low: PJK

Gasoline stocks in Northwest Europe’s Amsterdam-Rotterdam-Antwerp hub rose by 64,000 mt, or 7%, to a fresh five-month high of 981,000 mt in the week ended November 15, data from PJK International showed. ARA gasoline inventories are 1.8% higher than the 964,000 mt on November 16, 2016, according to PJK data. Naphtha stocks in the ARA fell by 65,000 mt, or 27%, in the same period to a nine-month low of 176,000 mt, the data showed. The last time ARA naphtha stocks were lower was January 25. Compared with last year, ...

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VPS Announces Major expansion in State-of-the-Art, Lubricant Oil-Condition-Monitoring Testing Services

Veritas Petroleum Services (VPS) announced today the latest expansion of the company’s lubricant oil condition monitoring (OCM) service. In the company’s continuous drive to offer its customers a widening range of technically advanced, value-added services, VPS have made a significant financial investment to equip their Rotterdam Laboratory with the very latest analytical technology, automation and robotics for the testing of lubricants. The introduction of such advanced equipment and systems, enables a significant increase in the laboratory’s capacity and efficiency and will further assist VPS clients’ effective condition monitoring and routine ...

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Maersk Line and Damco deliver a block train solution for Decathlon

On October 28, Maersk Line and Damco launched their first block train from China to Europe for the French sporting goods retailer Decathlon. On 16th November, the train arrived ahead of the schedule at Decathlon’s premises in Northern France, marking a milestone in cross-brand collaboration within Maersk for providing tailored transportation solutions for customers. The train ran from Wuhan, China to Dourges, France and was fully booked by Decathlon, one of the world’s largest sporting goods retailers and a large ocean freight customer of Maersk Line and supply chain management ...

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RS class: gas carriers “BORIS VILKITSKY” and “FEDOR LITKE” delivered to the customer

The construction of a series of Arctic LNG carriers under the technical supervision of Russian Maritime Register of Shipping (RS) is in progress: in November “BORIS VILKITSKY” and “FEDOR LITKE” gas carriers were delivered to the customer and the keel of a new gas carrier was laid (hull No. 2427). A series of 15 LNG carriers unique in design, is being constructed as part of the implementation of the large-scale RF liquefied natural gas production project Yamal LNG. The construction site is Daewoo Shipbuilding & Marine Engineering shipyard in the ...

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Arrested oil tanker worth $15-million to go on auction in Durban

An oil tanker valued at approximately $15-million, arrested in June 2016 in Durban, will be sold on auction on 05 December. The Korean vessel, built in 2006 and named ‘Pretty Scene’, currently belongs to the Parakou Group in Asia. The auction, set to take place in Durban, comes following a court order. Measuring 183m in length, 32.2m in breadth and with a gross tonnage of 30,068, the oil tanker is the fourth vessel of similar scale and nature to make its way to a South African auction floor in the ...

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Biofouling and Invasive Species: Addressing the Threat through Industry Collaboration

The introduction of invasive aquatic species to new environments is a major threat to ocean biodiversity, and can result in important impacts on infrastructure and livelihoods. The spread of invasive species is mainly associated with shipping, aquaculture, offshore structures and marine debris. Detecting initial incursions of these silent, potentially invasive species requires considerable monitoring effort, and even the eradication of a small population requires an intensive, long term and costly effort, usually with poor results. Marine biofouling has been targeted as a major vector for the transport of invasive aquatic ...

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Supply of qualified UK seafarers “critical” to future success of UK as a maritime centre

David Dingle CBE, Chairman of Maritime UK has written to the Transport Secretary, Rt Hon Chris Grayling MP, to express the entire maritime sector’s support for the shipping industry’s proposal to double funding for seafarer training. Writing on behalf of members representing the breadth of the UK’s maritime sector, the letter adds the weight of the ports, marine and business services industries to the proposals developed by the shipping industry. Known as the SMarT+ proposals, drawn up by Maritime UK members, the Chamber of Shipping and Nautilus, the letter makes ...

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Breakfast with EMAC discusses Charter Party Disputes with Fichte & Co.

Continuing awareness on the benefits of arbitration and mediation for maritime related disputes, the Emirates Maritime Arbitration Centre (EMAC) hosted its eighth Breakfast with EMAC on the subject of Charter Party disputes on 20 November at its offices in DIFC. Guest speaker, Alessandro Tricoli, Partner and Head of Shipping Department (non-contentious) from Fichte & Co, focused on charter party contracts and the most common areas that need to be addressed at the inception of a charter agreement. Drawing on his experience in the region’s maritime legal sector, Mr. Tricoli provided ...

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Maritime Disruptors Academy is open for registrations

Danish Shipping has just launched a new academy for employees in Danish shipping companies together with the tech consultancy DareDisrupt. The academy, which assembles in the beginning of 2018, aims to keep the Danish shipping industry at the forefront of the digital development and the latest technological trends. The first participants have signed up for the Maritime Disruptors Academy, which will be held over four intensive days in January and February. The Academy is a new educational program that is developed specifically for the shipping companies in Denmark. The purpose ...

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GOGL – Issuance of new shares in connection with delivery of vessel

Reference is made to the stock exchange notice dated October 16, 2017 where Golden Ocean Group Limited (NASDAQ and OSE: GOGL) (“Golden Ocean” or the “Company”) announced that it has entered into agreements to acquire two modern Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family (“Hemen”), the Company’s largest shareholder, at a purchase price of USD 43.0 million per vessel. The Company is pleased to announce that it has taken delivery of ...

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High Court in Denmark acquits Monjasa

The High Court in Denmark has today acquitted bunker company Monjasa and former co-owner Jan Jacobsen in an appeal case regarding allegations of over-invoicing. Group CEO, Anders Østergaard: “This strong and complete acquittal of Monjasa by the High Court is the verdict we expected. Monjasa has strongly disputed these allegations from the very start and we now regard this case as closed and look to the future. We continue to focus on our 2,000 strong customer relations, emphasising our ISO-certified quality management, and operating well within industry compliance requirements. This ...

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Wärtsilä will deliver high efficiency and low emissions for new Viking Line ferry

The technology group Wärtsilä will supply the engines, the navigation system, and a broad scope of other products and systems for a new luxury and environmentally friendly ferry being built for the Finland based operator, Viking Line. The ship is being built at the Xiamen Shipbuilding Industry yard in China and there is an option for a second vessel. The order with Wärtsilä was booked in October 2017. Six Wärtsilä 31DF dual-fuel engines running primarily on liquefied natural gas (LNG) will provide the propulsion and power for the vessel. The ...

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