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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 ...

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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 ...

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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, ...

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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, ...

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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 ...

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Dry bulk: Black Sea grains season reduces tonnage supply, pushes up freight rates

The Black Sea grains export season is heating up, adding extra long-haul demand for both Panamax and Supramax vessels in the Atlantic and giving freight rates yet another boost. An early flux of grain cargoes has been moved from the Black Sea towards the Far East, with Panamax freight rates averaging $22,000/day on a time-charter basis, up $5,000 from June dates. After a few months of quiet, the Black Sea region woke up to a fruitful 2017-2018 marketing year for grains, estimated to reach 38.31 million mt of exported goods, ...

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Shipping must not ignore new revenue standard

The new accounting standard IFRS 15, Revenue from Contracts with Customers, comes into force from 1 January 2018. It excludes revenues under leasing contracts, so income from bareboat charters and the asset element of time charters will be unaffected. Rather, the effect will be on the service element of time charters and on voyage charters. The key change is one of approach. Current practice looks at revenue recognition by reference to what is being done by the seller. The new standard looks at what is being received by the buyer. ...

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Acceptable U.S. Ballast Water Management Methods vs. BWM Convention Methods

Non-recreational vessels, U.S. and foreign, that are equipped with ballast tanks are required to comply with the U.S. ballast water regulations provided in Title 33 Code of Federal Regulations (CFR) Part 151 Subparts C & D when operating in the waters of the United States, except as expressly provided in 33 CFR 151.2015 & 151.2020. The purpose of this bulletin is to remind masters, owners/operators, agents and persons-in-charge of vessels that the United States is not signatory to the International Convention for the Control and Management of Ship’s Ballast Water ...

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DNV GL’s Digital Journey

Digitalization is enhancing our understanding of maritime operations, improving efficiency and helping to reduce costs. From electronic certificates, machine learning tools and drone surveys to the launch of a new industry data platform, DNV GL is embracing digitalization to enhance class services and improve communication with customers. Shipping has undergone a remarkable transformation over the past few decades. Advances in technology, new materials and new insights into the design, construction and operation of vessels mean that they are more complex, more efficient and larger than ever before. While the use ...

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MISC Berhad Welcomes Third Moss-Type LNG Carrier

Malaysia’s MISC Berhad (MISC), a world leading energy related maritime solutions and services provider has today taken delivery of Seri Cempaka, the third in a series of five Moss-Type Seri-C Class Liquefied Natural Gas (LNG) carriers. The 150,200 CBM LNG carrier has been built for MISC by Hyundai Heavy Industries (HHI), and benefits from an Integrated Hull Structure (IHS) with four spherical tanks shielded by a continuous cover, fortifying the vessel to allow for operation in even the harshest marine environments. Seri Cempaka joins her sister MOSS-Type newbuilds Seri Cenderawasih, ...

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European Maritime Social Partners welcome the Directive ensuring the welfare of seafarers

The European Maritime Social Partners warmly welcome the European Commission’s adoption of their proposal to update their Agreement on the International Labour Organisation (ILO) Maritime Labour Convention, 2006 (MLC). The ILO MLC amendments entered into force on 18 January 2017 and require shipowners to provide financial security to ensure the repatriation of seafarers and the payment of contractual claims from seafarers or their dependants in respect of death in service or long-term disability. The MLC 2006 sets minimum requirements to improve seafarers’ working and living conditions including recruitment and placement ...

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Teekay and Brookfield Announce Strategic Partnership and Investment in Teekay Offshore

Teekay Corporation and Teekay Offshore Partners L.P. today announced that they have agreed to enter into a strategic partnership with Brookfield Business Partners L.P. (NYSE:BBU)(TSX:BBU.UN), together with its institutional partners (collectively Brookfield). This transaction is part of a comprehensive solution for Teekay Offshore, which includes a $640 million equity investment and other financing initiatives detailed below. Highlights Brookfield is attracted to Teekay Offshore’s high-quality contracted cash flows and market leading positions in the offshore production and logistics space Comprehensive solution significantly strengthens Teekay Offshore’s balance sheet Fully finances Teekay Offshore’s ...

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Scorpio Tankers To Delay Second Quarter Results Announcement on Pending Merger with Navig8 Product Tankers

Scorpio Tankers Inc. announced that it will release its second quarter 2017 earnings later in the third quarter as a result of the pending merger with Navig8 Product Tankers Inc (“NPTI”). Prior to the release of second quarter earnings, the Company will issue a press release announcing the date of the second quarter earnings release and the related quarterly conference call. On May 23, 2017, the Company announced that it had entered into definitive agreements to merge with NPTI (the “Merger”). In conjunction with the Merger, the Company agreed to ...

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LNG tankers heading to Britain, Belgium and the Netherlands

The following liquefied natural gas (LNG) tankers are expected to arrive in Britain, Belgium and the Netherlands in the coming weeks. The vessels carry gas to Europe’s most active markets and include cargoes delivering on a spot basis and under long-term contracts. Estimated arrival dates are often revised by port authorities and AIS Live ship-tracking data on Reuters, and are updated below. Some tankers heading for Belgium and Britain may be loading at the terminal. Those expected to load are indicated with an (L). Tankers that have docked are indicated ...

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ITF Seafarers’ Trust head takes up consultancy role

Kimberly Karlshoej, head of the ITF’s (International Transport Workers’ Federation) charity arm, the ITF Seafarers Trust, is to step down from her post and take on a consultancy role there. ITF general secretary Steve Cotton commented: “Kimberly came to the Trust at the end of 2014, after having worked for a number of years as director and programme officer of the TK Foundation and as a consultant to maritime charities. “During her time as head of the Trust, she has modernised and revitalised it. Her knowledge of, and passion for ...

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