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Tag Archives: Tops

New marine fuel requirements boost newbuilding ordering activity

Things are heating up again in the newbuilding ordering market, despite the relative slowdown over the course of the past few weeks, which was deemed as a mainstay, at least until the end of August. In its latest weekly report, Allied Shipbroking noted that “despite being well into the summer period which notes a typical slow down in new ordering and despite the fact that we had seen a fair softening in activity over the past couple of weeks, things seemed to have sparked back into life this past week, ...

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Crude Tanker Deliveries: Back With A Bang

The ordering boom in 2006-08 landed the crude tanker market with near record deliveries and robust fleet growth in the subsequent years. A return to strong contracting in 2014-15 has led to a surge in delivery volumes of crude tankers. In 2017, crude tanker deliveries are expected to top 25m dwt, breaking records in the process, and continuing their role as a key feature of market dynamics this year. Rising From The Ashes Following the ordering boom in 2006-08, crude tanker deliveries in the subsequent four years surged to average ...

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FSRUs a better investment opportunity than LNG carriers

Despite falling freight rates for floating storage regasification units (FSRUs), investment returns at current asset prices and charter rates are higher compared with standard LNG vessels, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. The global FSRU fleet has grown at a CAGR of 21% over the last five years, and currently there are 24 FSRUs operational with an aggregate LNG import capacity of 82 mtpa. An additional 74 mtpa FSRU import capacity is under construction or in the planning stage. FSRUs ...

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VLCC Market Under Pressure

Shipbrokers left and right are highlighting the VLCC tanker markets’ intense negative pressures. In its latest weekly report, shipbroker Charles R. Weber said that “rates in the VLCC market were under renewed negative pressure this week, paring last week’s modest gains and extending to a near two‐month low. Though demand in the Middle East was stronger, rising 85% w/w from last week’s YTD low to 24 fixtures – boosted by a surge in demand for AG‐China voyages to an eight‐month high – the pace of demand seemed slower as half ...

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IMO to look at sulphur verification for ‘in use’ samples taken from ships

A proposal to apply the same sulphur verification procedure to samples taken from ships as the one prescribed by MARPOL Annex VI for the representative fuel oil sample taken at the time of delivery (the MARPOL sample) received wide support at the 71st session of the Marine Environment Protection Committee last week. The proposal, put forward by China, noted: “Onboard sampling is an essential tool to verify the sulphur content of the “fuel oil used on board ships”. Some port States, such as the European Union (EU) States, the United ...

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Global Soybean Trade: The Tale Of A Love Triangle

Global seaborne soybean trade grew rapidly in 2000-16, recording a 7% p.a. CAGR, which accounted for 40% of total grain trade growth in the period. In 2016, soybean trade hit 134mt, representing 30% of total grain volumes. As this month’s Commodity Countdown explores, the key features of soybean trade recently have been China’s growing demand and the US and Brazil’s fight for Chinese import attention. China’s Big Soybean Crush In the mid-1990s, China began to look abroad for grain supply, as it became increasingly apparent that domestic output was insufficient ...

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VLCC tanker market facing the doldrums

The VLCC tanker market is facing intense headwinds so far in the year. In its latest weekly report, shipbroker Gibson noted that “undoubtedly, the OPEC led production cuts are having negative implications for crude tankers, particularly VLCCs. Although no major changes have been seen in the absolute volume of spot VLCC fixtures out of the Middle East, this coupled with the ongoing rapid expansion of the trading fleet, forced spot earnings down to around $17,500/day in recent months, from over $40,000/day at the start of the year. In contrast to ...

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MRV: Get On Board With Advanced Fuel Management Technology

The EU MRV regulation moves a step closer in August 2017 when vessel operators will be required to have their monitoring plans in place. Damian McCann, product manager at Royston, considers the implications and technology to help marine vessel owners and operators comply. The EU MRV (monitoring, reporting and verification) regulation came into force in July 2015 and is designed to cut marine vessel CO2 emissions through the enhanced capture and collection of data. Specifically, it requires ship owners and operators to start to log and monitor fuel consumption more ...

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One For The ‘Metalheads’: Mining Minor Bulk Trends

In the metal and mineral bulk trades, as in the heavy metal music scene, a few very big names often end up dominating the headlines: metal has the likes of Metallica, Rammstein and Judas Priest; mining bulk has iron ore and coal. But in both cases, the triumphs and travails of the smaller names can often be just as riveting and indicative of the broader trends as those of the superstars… Atlas, Rise! The ‘mining bulks’ consist of the metallic and mineral outputs of the extractive industries (and substitutes such ...

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Tankers’ demolition sales pick up pace

Tankers sold for demolition in SouthEast Asian scrapyards has accelerated over the course of the past few days, despite the fact that the monsoon season, means that scrapping activity is usually slower. In its latest weekly report, GMS, the world’s leading cash buyer of vessels, said that “the supply of tankers into the Indian sub-continent recycling markets continued at pace for another week as several more high profile sales materialized (including two VLCCs). This follows on from the recent aframax and suezmax sales at ever-improving numbers as the sub-continent markets ...

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Ballast Water Treatment Systems at a glance

With the ratification of the Ballast Water Management Convention, shipowners are pressed to decide which treatment systems to choose. For manufacturers keen to be selected, attaining type approval by the U.S. Coast Guard can be a deciding factor. DNV GL provides comprehensive support. After many years of discussions, the date is set. The IMO’s Ballast Water Management Convention will enter into force on 8 September 2017. For operators with vessels that discharge ballast water in international waters, this means that they must have a treatment system installed on their vessels ...

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A closer look at mutual club funding

There was a time when all P&I Clubs used the same method of funding; the estimated total call (ETC) approach. To understand this method it is necessary to consider the nature of liability insurance. Unlike hull insurance, in which it is reasonably clear whether the property insured has been damaged during the policy year, a liability loss may have occurred yet be unknown to the shipowner or their insurers. This is because the law generally allows a claimant three years or so to lodge a personal injury claim against the ...

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Hanseaticsoft Sets Up Shop In Greece: Ship owners Look to Modernize Ship Management

There’s a lot of talk these days about the digitalization of the shipping industry. The Greek ship owning community is looking to take advantage of this trend and keep pioneering the industry. As such, Hanseatisoft, one of the leading companies in that respect and hot of the heels of its partnership with Llody’s Register is in the process of establishing its office in Greece. In an exclusive interview, Hellenic Shipping News Worldwide (www.hellenicshippingnews.com) talked with the company’s CEO, Mr. Alexander Buchmann, regarding his future plans. Lloyd’s Register recently agreed a ...

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Ballast Water Convention Extension May Delay Recovery in Tanker Market

While the tanker market was previously counting on the implementation of the IMO Ballast Water Management Convention in September 2017 to raise scrapping levels amidst low earnings as well as high retrofit costs (US$1 to 2 million), the Marine Environment Protection Committee (MEPC) recently decided to delay its implementation by two years. The convention requires all existing vessels to install approved Ballast Water Treatment Systems at the first renewal of the International Oil Pollution Prevention (IOPP) survey after the enforcement date. The delay is expected to slow demolition activity over ...

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Dry Bulk FFA: Capesize Market

Capesize Index Resistance – 9,489, 9,837, 11,577 Support – 6,305, 5,211, 4,630 Resistance at USD 9,489 Support 6,305. Weekly stochastic oversold. Daily stochastic nearing overbought territory. Trend continues to make lower lows and lower highs. Caution on a new high close above USD 9,489 as this is an early warning the trend could be turning bullish. Note: – The trend remains bearish, and has potential to make another move lower. However Downside moves that fail to make a fresh low would suggest consolidation, or a change in trend bias to ...

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