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Tag Archives: Tops

Tankers’ Newbuilding Deliveries a Major Obstacle for Market’s Restoration of Balance

The single biggest stumbling block which is hindering the crude tanker market’s recovery and is bound to continue doing so, is the excess supply of ships, a trend which isn’t going away anytime soon. In its latest weekly report, shipbroker Intermodal said that “crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure and have significantly been declining since Q3 of 2017 as a result of demand-supply imbalance. Lately, Brent crude oil has hit a ...

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IMO is ready for ban on non-compliant fuel

It should be prohibited to have non-compliant fuel on board as from 2020. This is the clear signal from the IMO Sub-Committee PPR, Pollution Prevention and Response, which this week has been discussing how to ensure that the global sulphur requirements are implemented and enforced effectively. At the opening of the week-long IMO meeting, IMO’s Secretary-General, Kitack Lim clearly communicated that there is no turning back; the global Sulphur requirements will enter to force in 2020. The effect of the rules will be significant for both the environment and public ...

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CPP Tanker Ton-Mile Demand

In examining bilateral country trade flow data, we recorded a 2.1% rise in CPP ton-mile demand distributed across the four tanker segments we analyze (Figure). At 2.23 trillion ton-miles, CPP marine transportation requirements make up 17.3% of all tanker demand, the highest on record. By comparison in 2000, CPP marine transportation accounted for just 7.79% of total tanker demand. LR vessels represent approximately 50% of clean transportation demand. We project annualized growth of 2.0% and 2.5% for the LR2 and LR1 sectors through 2022. We are likely to see more ...

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Demolition Activity Stagnates, Trigerring Fears of a Slower Shipping Market Recovery

With the fragility in the dry bulk market’s recovery already noted and the rebound in the tanker market both hinging in solid levels of ships’ scrapping, as well as newbuilding delivery delays and slippages, the demolition activity so far in 2018 doesn’t seem to bode well for the future. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “with yet again another stagnate week in the recycling market, at least we had the Indian budget to wait for, although the usual anticipation and hype usually seen appeared to ...

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Zero-Emission Vessels 2030. How do we get there?

LR and University Maritime Advisory Services (UMAS) released ‘Zero-Emission Vessels 2030’ in December 2017, a study aiming to demonstrate the viability of zero-emission vessels (ZEVs) – identifying what needs to be in place to make them a competitive solution for decarbonisation. The first milestone in the IMO greenhouse gas (GHG) Roadmap is approaching: MEPC 72 in April 2018. The world is watching to see if an ambitious reduction strategy in line with the Paris Agreement can be delivered. To achieve this ambition, ZEVs will need to be entering the fleet ...

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9th Maritime Employee Survey reveals rising confidence in shipping industry employment prospects

Shore-based shipping industry employees around the world feel slightly more positive about their employment prospects and are less likely to seek new positions in the near future according to research conducted by leading international maritime recruiter Halcyon Recruitment and online training provider Coracle. Just over half (56%) of the (2,863 respondents) indicated concern over job security whilst only 28% said that they were considering a job change in the next 12 months. This compares with the findings of the 8th Maritime Employee Survey published in late 2016 which found that ...

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Dry Bulk Market: Recovery Prospects Not Threatened by NewBuilding Ordering… For Now

In terms of the dry bulk market’s full recovery, a lot hinges on the pace of newbuilding ordering activity, with many analysts fearing that a boom in fleet growth will set the industry on the wrong foot again. Is this the case though? In its latest weekly report, shipbroker Allied Shipbroking noted that “there has been considerable amount of concern expressed over the past couple of weeks with regards to the increasing level of new ordering being seen, with many now fearful of a repeat of what was witnessed back ...

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The Ultra Large Container Ship from a different angle

ULCS, short for Ultra Large Container Ship, is the generic name for container ships with a nominal container capacity of 10,000 TEU and over. For many, the ULCS is a fascinating ship, and the editors of DynaLiners Weekly, published by Dynamar of Alkmaar/The Netherlands, are no exception. DynaLiners is keeping track of all ULCS operating and on order. Not only that, we also check the distribution of the ships over the individual operators, both by number, size and type. This, amongst others, reveals a carrier’s flexibility of trading through the ...

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Chicken and Egg: LNG Bunkering Developments

Further to the lively debate on ship owners’ options after 2020, I note that four big Japanese corporations have announced that they will co-operate on LNG bunkering. K Line and NYK Line will work with Chubu Electric Power and Toyota Tsusho Corporation to build LNG bunkering infrastructure in Japan. The four have released a joint statement which says that “LNG is expected to become an important alternative to heavy fuel oil due to its relatively low carbon footprint, which will enable ships to meet increasingly stringent international regulations on emissions.” ...

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Newbuilding Orders Piling Up in Dry Bulk Segment

Increasing confidence in the dry bulk market’s long term recovery has triggered an increasing number of newbuilding orders over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “an interesting week for the Newbuilding market was due, mostly attributable to the Dry Bulk sector, which pulled in its weight this week dominating the reported activity tables this past week. Despite the fact that freight market is showing some slight softening, with the BDI having eased back from its early January levels, ...

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Dry Bulk FFA: Panamax Index Reaches New Highs

Highlights: The Index has recently made a new high, if we hold above the USD 10,517 support then it would suggest that the current move is basing. The stochastic is showing a bear setup (this has near term bullish implications) and this remains in play above USD 10,223 on the weekly chart. Like the index, the Feb and Q2 contracts are also showing bear setups. Technically these are regarded as near term bullish but tend to result in bearish divergences and signal a longer term corrective phase is due. The ...

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Keir Gravil: Autonomous vessels – the challenges and opportunities in design

Automation presents a set of unique challenges to designers, insurers and operators of ships. In this article, Keir Gravil, a naval architect at Frazer-Nash Consultancy in Bristol, UK discusses some of the key issues that could face automated ships of the future from a design perspective. It is a truth recognised by many industries that the future of transportation lies with greater automation. Over the last 50 years we have seen huge changes not only in shipping, but in every form of transportation and vehicle. Aircraft now incorporate automation routinely ...

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Tanker Market: Suezmax Segment In Worst Position Among Other Classes

Owners of Suezmax tankers are worse off than their counterparts with focus on other ship classes, said shipbroker Charles R. Weber in its latest weekly report. The shipbroker said that the Suezmax market will face a prolonged course towards recovery, as a result of a lack of enough phase-outs, compared to other tanker classes. According to the report, “a broad decline in Suezmax rates since the start of the year has seen average pushed earnings to sustained lows with average returns hovering under $3,000 /day throughout this past week. Representing ...

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Exploiting economy of scale effects for big tankers

When Bow Pioneer was commissioned by Odfjell in 2013, building a chemical tanker of these enormous dimensions – 228 metres in length, 37 metres wide, and with a 14-metre draught – was considered by many as a daring step. But Odfjell, planning for the longer term, ordered the vessel in anticipation of the growing demand for liquid chemicals from new and emerging economies in Asia, most notably China and India. And since size always promises benefits of scale, a key consideration in a highly competitive industry, Odfjell wanted to be ...

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The fundamentals for Indian coal imports continue to look promising

Back in August we reported that the fundamentals impacting Indian coal imports looked more promising Trade flow data today implies 17.4Mt of imports in November 19.0Mt in December and 16.2Mt in January. Based on trade flow data we estimate imports in Oct-Dec 17 to be up about 30% YoY while we estimate imports in January to be up 17% YoY. The positive outlook has thus come into fruition. The combined coal stocks at mines and powerplants has increased from a low point of 36Mt at the end of October to ...

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