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Containership Scrapping: Sizing Up The Suspects…

Last year saw a record level of boxship demolition, and this rapid pace of scrapping was sustained into early 2017 with a record monthly level of boxship recycling recorded in January and nearly 0.2m TEU scrapped so far this year. Boxship demolition in 2017 is currently projected to reach record levels, but there are a range of potential scenarios and it is hard to be precise on how scrapping will play out… 2016: Whodunit? In 2016, a record 194 boxships of 0.65m TEU were demolished, and several key themes were ...

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Container Index Revolution: Is it the time to embrace price transparency?

Over 2000 container industry players descended upon TPM at Long Beach, end February, where one key theme I took away was the hesitancy to embrace price transparency. Existing benchmarking providers had mixed reviews depending on delegates’ interpretation of transparency. There was no true winner but when entering negotiations with a data point, on the potential real market rate, compared to market sentiment can only be a good thing for negotiating parties. It builds trust and potential long term relationships, not just focusing on price but ensuring parties have “skin in ...

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Asia Tankers-VLCC rates to remain weak on output, tonnage woes

Freight rates for very large crude carriers (VLCCs), which fell to a near six-month low on Thursday, will remain weak until the Asian refinery maintenance season gets completed, starting April-end. “I haven’t seen a collapse in rates like this for some time. People are taking insane rates,” said Ashok Sharma, managing director of ship broker BRS Baxi in Singapore. Output cuts by oil producers, refinery maintenance in Asia and the reactivation of older vessels previously used as floating storage have combined with a raft of new tanker deliveries and ships ...

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Baltic index rises to over 4-month high

The Baltic Exchange’s main sea freight index , tracking rates for ships carrying dry bulk commodities, closed at its highest level in more than four months, helped by stronger rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended up 44 points, or 3.7 percent, at 1,240 points, a level last seen on Nov. 21. The capesize index gained 137 points, or 5.8 percent, to close at 2,482 points, its highest level since Nov. 23. Average daily earnings for ...

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Spike in coal shipments drive Asia Pacific coal freights higher

Supramax freight rates for moving thermal coal from Southeast Asia reached a multi-month high Friday as Chinese imports spiked and Indian coal buyers were steadily active amid tight tonnage supply. Freight rates on the key Indonesia to India 50,000 mt (plus/minus 10%) Supramax coal routes hit their highest levels since the launch of these assessments on September 1. The freight rate from South Kalimantan in Indonesia to Paradip on the east coast of India was assessed Friday at $9.05/mt and to Navlakhi on the west coast at $10.50/mt. The related ...

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Competition watchdog okays Japanese shipping lines’ JV

The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines, it said yesterday. The firms – Nippon Yusen Kabushiki Kaisha, Mitsui OSK Lines, and Kawasaki Kisen Kaisha – had sought approval on potential issues under the Competition Act. The three companies will merge their container liner shipping business, and their container terminal services businesses outside Japan. “The only overlapping service that would affect Singapore is the provision of container liner shipping services,” noted the CCS. They also provide logistics services, ...

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New International Gas Union Report Highlights Significant Role of LNG in Cleaner Marine Transport

The International Gas Union (IGU) has released a new report on the crucial role of liquified natural gas (LNG) in enabling cleaner marine transport – currently a major cause of human health and environmental costs. Unveiled at today’s G20 Energy Sustainability Working Group, the latest report highlights the detrimental impact of marine transport on air quality levels, emphasisng the positive role LNG can play in combatting these impacts as an alternative and cleaner fuel for shipping. Urban air pollution has become a top priority for local, national, and international governments ...

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The state of uncertainty on global fuel market

World fuel indexes demonstrated slight downward evolution during the week while meantime gained some support from the news that members of the Organization of Petroleum Exporting Countries favor extending production cuts beyond June to continue efforts to rebalance global oil markets. The initiative would require that the 11 NOPEC nations that were a part of the original deal commit to extended cuts as well. The bloc meets in Vienna on May 25th, but negotiations to determine whether the deal will be extended (and if so, to what extent) are already ...

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Hapag-Lloyd with positive operating result in a challenging environment

Hapag-Lloyd closed the 2016 financial year with EBITDA of EUR 607.4 million (previous year: EUR 831.0 million) and an operating result (EBIT) of EUR 126.4 million (previous year: EUR 366.4 million). These figures are taken from the 2016 annual report, which was published today. The Group net result came in at EUR -93.1 million (previous year: EUR 113.9 million). “We had a very challenging market environment in the first six months of 2016, but were able to improve revenue and results significantly in the second half of the year. Even ...

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ClassNK issues first EGCS ready notation

Leading classification society ClassNK has issued EGCSR-F (Exhaust Gas Cleaning System Ready Full) notations to nine ships operated by Mitsui O.S.K. Lines, Ltd. This notification signifies that the ship fulfills requirement for SOx scrubber retrofitting. Following discussions on the implementation schedule of MARPOL Annex VI SOX/PM regulations at MEPC70 in October last year, all ships operating outside Emission Control Areas (ECA) will be required to limit sulfur emission levels to under 0.50% from 1 January 2020. In order to enable the safe and secure retrofitting of SOx scrubbers as part ...

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Alfa Laval Touch Control is the new standard of control for marine boilers

(14) KAI GIA BUNKERPORTS Alfa Laval Touch Control is being rolled out successively for new and existing Alfa Laval Aalborg boilers. First out are the Alfa Laval Aalborg OL and OC-TCi boilers, which will now feature advanced control with a simple touch. With its graphical touchscreen display and intuitive two-touch navigation, Alfa Laval Touch Control is a major leap forward in boiler control technology. As the new common control platform for all Alfa Laval Aalborg boilers, the system will be a familiar interface for crews, regardless which boiler they work ...

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Alewijnse Marine Appoints New Representative In Germany

Alexander Höfling has been appointed by Alewijnse Marine to promote the group’s products and services in Germany, as of March 2017. Alewijnse Marine is a family-owned company with a global reach which has been offering innovative solutions in the area of integrated electrical systems and automation for the entire maritime sector since 1901. Its capabilities span new build, conversion and repair projects. The headquarters of Alewijnse are located close to the Dutch / German border in Nijmegen. Germany is a strategic growth market for Alewijnse, where its ability to deliver ...

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North Sea Tyra extension fuels growth: SH Group establishes footprint in Esbjerg

Based on the Danish government’s sanction of the Tyra life extension plans and a continued request from customers for local presence, SH Group has decided to establish a footprint in Esbjerg. The foundation is strong competences within mechanical, hydraulic and electrical work, and the goal is to be the first choice one-stop-shop for owners, operators and wind-companies, especially those companies who are now going to redevelop the Tyra field. SH Group has employed Bjoern Joensen and Hardy Jeremiassen as Business Development Coordinator and Head of Business Development for offshore-, wind- ...

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VN shipping firms face uphill battle

Local companies in the maritime shipping market will have to struggle amidst fierce competition with experienced and well-funded players from abroad, as they battle for dwindling orders. Many Vietnamese shipping firms struggle with bad debts and have had to sell some vessels to cover business costs, after attempts to cut fees for orders. The situation was described by Trinh The Cuong, head of transport and freight services at the Viet Nam Maritime Administration (VMA), at this week’s workshop entitled “Competing in maritime shipping: Experience from Japan”. The workshop was held ...

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The Nautical Institute launches Command Diploma Scheme

The Nautical Institute’s flagship distance learning programme, the Command Diploma Scheme, was launched today in Singapore at the first of this year’s Nautical Institute Command Seminars. The scheme is intended for those about to take command as well as those who have just done so. At its core are the subjects that existing and aspiring Masters have identified as areas of concern – onboard leadership and management, navigation and shiphandling, ship’s commercial business and coping with emergencies. The Command Diploma Scheme provides a practical way for aspiring officers to prepare ...

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