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Tag Archives: Tops

Tankers: Fast Reflexes Need to Survive in Today’s Market Conditions

As has often been the case in the past, when the dry bulk market is experiencing good fortunes, tankers are suffering and vice versa. While this is mostly coincidental, it also serve as a testament that volatility in both sectors is more obvious in the past few years, than in the more distant past. In its latest weekly report, shipbroker Intermodal noted that “with the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over at the tanker ...

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Asia Clean Tanker Market Outlook Q4 2017: The Sun is Out

While growth in the product tanker fleet has been fairly moderated this year compared to the crude tanker segment, overcapacity has weighed on clean tanker freight rates in Asia over the year. Fleet growth for LRs and MRs hit around 6% and 3% respectively so far this year. The pace of newbuild deliveries is expected to ease in Q4 due to high rates of slippage. A series of unplanned refinery outages in the West provided some respite for LR owners in Q3, most notably Hurricane Harvey which took out nearly ...

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Maritime Clusters: Out to overtake London?

Aside from London, the maritime world is also looking to important existing and newer maritime clusters which have developed in the last decade. A number of other cities across the world including Singapore, Hamburg and Piraeus, as well as Oslo and Hong Kong are established as leading shipping commercial centres. Other centres both inside and outside the EU are seeking to pick up London maritime business, with Greece on a drive to attract UK-based owners and marine insurance brokers for an enhanced post-Brexit maritime cluster in Piraeus. With 15-20% of ...

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Dry Bulk Market’s Recovery Expected to Gain Further Ground says Shipbroker

Optimism is abound the dry bulk market’s prospective recovery, hot on the heels of the rally in freight rates, which has been going on with brief interruptions since the past July. In its latest weekly report, shipbroker Allied Shipbroking noted that “despite the side step noted this past week as part of the Moon Festivities in the Far East, the Dry Bulk market still seems to hold plenty of wind in its sails, something that could well translate into further improvements in the freight market over the coming weeks. The ...

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Capesize Index- a lower low and lower high would suggest the technical is weakening

Capesize Index– a lower low and lower high would suggest the technical is weakening. Market shorts should be cautious on a close above USD 20,427. Nov – the previous wave made a higher high and a lower low suggesting the trend lacks direction, and has the potential to enter a consolidation phase. Caution on a close below USD 18,050. Cape Q4 17 – Like the Nov futures we have the potential to enter a consolidation phase with the stochastic suggest upside moves could be limited. A close below USD 17,630 ...

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ExxonMobil Survey Reveals No Clear Route to Compliance with 2020 Global Sulphur Cap: Results highlight confusion and importance of trusted fuel suppliers

A marine industry survey conducted by ExxonMobil finds that the route to compliance with the International Maritime Organization (IMO) 2020 0.5% global sulphur cap is unclear for many vessel operators. Results highlight an ongoing sense of confusion and lack of preparedness, with 70% of respondents saying that they do not believe the industry is ready for the deadline. The makeup of the marine fuel mix in 2020 and beyond is a clear area of concern, with wide-ranging views from the industry on how the landscape will evolve. Thirty-two percent of ...

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Newbuilding ordering activity pauses on Chinese Holidays

It seems that the absence of China from the shipping markets this past week has led to a pause in newbuilding ordering activity. In its latest weekly report, shipbroker Allied Shipbroking said that “after a vivid week, with a number of notable orders coming to light, it seems as though there was a slight pause in the market with activity going quiet. With the main drivers in the newbuilding market being almost absent, there was limited talk of any fresh newbuilding projects being signed. Chinese holidays have played a role ...

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Scrubber uptake by 2020 may be less than expected, IMO study author tells IBIA forum

The base case figure for projected uptake of exhaust gas cleaning systems (EGCS), or scrubbers, in the official availability study presented to the International Maritime Organization in 2016 may be too optimistic, the study’s lead author told a forum hosted by IBIA during London International Shipping Week (LISW). Jasper Faber of CE Delft said the base case in the study regarding how many ships will have EGCS installed by 2020 may not be happening because current orders are slow. He said the prediction was based in part on the anticipated ...

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“Persisting industry challenges remain at the top of the INTERCARGO agenda while its Membership increases drastically”

INTERCARGO’s Technical and Executive Committees held in Athens their semi-annual meetings on 9 and 10 October 2017, along with a well-attended Dinner Reception on the first day. INTERCARGO re-iterated its commitment to a safe, efficient, high quality and environmentally-friendly dry cargo shipping industry and its support for an industry governed by free and fair competition. The meetings were chaired by Chairman John Platsidakis, Vice Chairman Jay K Pillai and Technical Committee Chairman Dimitris Fafalios. Main topics were the Safe Carriage of Cargoes, the non- availability and adequacy of Reception Facilities ...

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VLCC Tonnage Oversupply to Diminish in October says Shipbroker

It seems that VLCC excess tonnage is gradually been absorbed, as the oil market is nearing the winter season in the northern hemisphere. In its latest weekly report, shipbroker Charles R. Weber said that “VLCC demand was mixed this week with the Atlantic basin continuing to observe strong activity while the Middle East was slower on a slower progression into the final decade of the October loading program amid the China National Day Golden Week holiday. There were 24 fresh fixtures in the Middle East market, off 29% w/w, though ...

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Delivery of cargo without original bills of lading

• It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-production of bills of lading. Although it is commonly accepted in many trades, the consequences of non-performance can be extremely serious for Members. • P&I cover is prejudiced if cargo is delivered against an LOI and claims arise where the cargo is mis-delivered. • It is absolutely essential that Members get the wording of the LOI right and ensure that proper procedures are in place to demonstrate compliance with ...

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IMO undertakes regulatory scoping exercise on autonomous ships

The Maritime Safety Committee (MSC) of the International Maritime Organization (IMO) agreed in June to undertake a regulatory scoping exercise to determine the extent of the need to amend the regulatory framework to enable safe, secure and environmental operation of Maritime Autonomous Surface Ships (MASS) within the existing IMO instruments. The aim is to identify IMO regulations which: preclude unmanned operations as currently drafted, would have no application to unmanned operations, do not preclude unmanned operations but may need to be amended. By agreeing to undertake this exercise, the IMO ...

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Tankers: Aframaxes could see demand boom in years to come

Canada has long been heralded as one of the potentially major markets for oil trade, whether via pipelines or by sea. The Aframax market in particular could be set for a major boost in terms of employment in the coming years, should a major pipeline project come to fruition. In its latest weekly report, shipbroker Gibson said that “the Canadian government has long harboured the ambition to be able to export crude without the need to rely almost entirely on the US for distribution. Increasing US shale oil production lessens ...

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Shipping: How to achieve energy efficiency excellence

There are so many factors influencing the performance of a vessel that many shipping companies find it challenging to determine where to start and how to continue. Not every possible optimization measure makes sense in every instance, and it takes knowledge and experience to identify the most promising parameters to address. Acknowledging that too many owners, managers and operators struggle with selecting the right set of technical and operational optimization measures to realize the greatest possible savings potential, DNV GL has enhanced its proven Energy Management approach and supporting toolkit. ...

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Turning Around Yet? How Far To Go?

When shipping markets start to move into the next phase of the cycle following a downturn, sometimes the percentage increases in earnings can look very impressive indeed. But of course they’re generally from a low base. With some of the shipping sectors now moving into a new phase, how else might the improvements be put into a helpful context? Turn Time? Clearly the percentage increase in earnings in each sector doesn’t really capture the essence of the relative position in the market cycle. Across September, earnings for a 2,750 TEU ...

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