Home / Tag Archives: Tops (page 3)

Tag Archives: Tops

LNG Demand Rise Bodes Well for the Future of LNG Shipping

Demand for LNG has continued to rise over the course of the past few months, which is shaping up to provide a long-term boost in LNG shipping as well. In a recent market update, ship owner Gaslog said that during the third quarter and post quarter end, “there has been continued momentum in the start-up of new LNG liquefaction capacity with the fourth train at Sabine Pass in the U.S. shipping its first commissioning cargoes in August 2017. Sabine Pass has now shipped approximately 200 cargoes since start up in ...

Read More »

Agreement on EU CO2 quotas excludes shipping for now

Thursday morning, the European Parliament and the EU member states agreed on a revision of the EU’s Emissions Trading System, ETS. For the time being, the agreement excludes shipping and instead it gives IMO the responsibility, which Danish Shipping supports. After long negotiations until late into the night, an agreement on the EU’s Emissions Trading System was reached. It is relevant to shipping since, from the outset, the European Parliament was eager to include shipping in the trading system from 2023 in the event of insufficient progress in the IMO’s ...

Read More »

Hong Kong increases limits of liability for maritime claims

Our earlier Gard Insight discussed the implementation of the 1996 Protocol to the Convention on Limitation of Liability for Maritime Claims 1976 (the 1996 Protocol) which came into effect in Hong Kong on 3 May 2015 . In April 2012 the Member States to the 1996 Protocol agreed an increase of approximately 51 per cent in tonnage limits in their jurisdictions with effect from 8 June 2015 to reflect the changes of monetary values over the period and to cope with inflation. These new limits of liability will now come into ...

Read More »

Tanker Market Suffers from Anti Corruption Campaign of Saudi Arabia

Oil markets have been feeling the pressure from the anti-corruption crackdown which has been going on since the past weekend in the Kingdom of Saudi Arabia. However, it seems that besides the oil market, tanker owners are bound to feel the pressure as well. In its latest weekly report, shipbroker Allied Shipbroking said that “at the start of the week oil prices were on a surge hitting their highest mark since July 2015 and Brent crude futures surpassing the US$ 62 per barrel mark. Many now see a further tightening ...

Read More »

Joint industry collaboration to boost offshore and marine sector with Additive Manufacturing (3D printing), Drone and Digital Twin technologies

Sembcorp Marine, DNV GL, A*STAR’s Singapore Institute of Manufacturing Technology (SIMTech) and National Additive Manufacturing Innovation Cluster (NAMIC) today signed a Memorandum of Understanding (MOU) to develop disruptive applications in additive manufacturing, drone and digital twin technologies that could revolutionize solutions for Singapore’s offshore and marine (O&M) sector and boost its global competitiveness. The quadripartite collaboration will focus on the following three developmental areas with promising potential to bring about transformational improvement to the O&M sector: Laser Aided Additive Manufacturing (also known as 3D Printing) for fabricating large-scale ship structures ...

Read More »

ICS encouraged by EU faith in UN IMO to further reduce shipping’s carbon emissions

Speaking from the UN Climate Change Conference in Bonn, ICS Director of Policy, Simon Bennett, has commented on the provisional decision by the European Union not to include shipping within the full scope of the regional EU Emissions Trading System (ETS). “We think that this demonstrates confidence within the EU institutions in the current progress being made at the UN IMO to develop an ambitious strategy that will deliver additional CO2 reduction measures, consistent with the shipping industry’s own vision of zero emissions, as soon as possible.” Mr Bennett added: ...

Read More »

Volatility is evident in the newbuilding market

Market sentiment maybe in a better place over the course of the past few months, both in the dry bulk and in the wet markets, but newbuilding ordering activity is still showing large spikes week-in week-out. In its latest weekly report, shipbroker Allied Shipbroking said that “the fluctuation in activity in the Newbuilding market keeps the market on its toes, with the scene changing dramatically even on weekly basis. After building a strong trajectory over the past couple of weeks, indicating that we have entered in a firm final quarter, ...

Read More »

Greek Shipping Leads the Way

“We must free ourselves from the hope that the sea will ever rest. We must learn to sail in high winds.” – Aristotle Onassis It is nearly a decade since the global crisis began, and despite the ongoing austerity and economic uncertainty in Greece, Greek shipping has demonstrated its ability to sail in high winds and weather the storm. With freight rates improving across the board and the new building order book becoming more balanced, along with anticipated scrapping, there is cautious optimism of a sustained recovery in the shipping ...

Read More »

A better outlook for chemical tankers

Subdued ordering and a narrowing in the tonnage supply-demand gap from late 2018 is expected to support a recovery in the chemical shipping market, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Drewry estimates that tonne-mile demand of chemical commodities will grow at 3.8% on a year-on-year basis in 2017, of which the organic trade is likely to grow only at 1.5%. By contrast, inorganic and vegoil tonne-miles are expected to increase by 6.3% and 6.5%. Drewry estimates that the global chemical trade ...

Read More »

Digital Technologies are bound to change the way shipping companies operate, says the head of Setel Hellas

New technologies like cloud-based solutions, blockchain, the Internet of Things and the Digitization of business are slowly taking shape and are bound to transform the “modus operandi” of the shipping industry. In its everlasting quest of chasing margins and boosting competitiveness and efficiency, new digital tools are beginning to change old business models throughout the maritime industry. As such, new business opportunites arise. Hellenic Shipping News Worldwide (www.hellenicshippingnews.com) held an exclusive interview with Mr. George M. Marinakis, CEO of Setel Hellas, to discuss the shifting landscape. Shipowners, Operators and industry ...

Read More »

Container shipping: testing the strength of the market makes spot rates drop

Demand: What have we learnt from the most recent peak season? Volumes on all trades grew at healthy levels in line with our full year forecast for global container demand growth rate being at the same level as global GDP growth. BIMCO anticipates that the global trade-to-GDP multiplier for total container shipping demand in 2017 and coming years will hover around one or slightly above, at best. Year-to-date, we have seen a multiplier of 1.39. The overall level is one thing, but individually, we may see both higher or lower ...

Read More »

Dry Bulk FFA: Supramax Index – The technical remains bullish and is starting to look oversold

Supramax Index Weekly Support – 10,740, 10,045, 9,081 Resistance – 11,891, 12,643, 13,594 As noted on the last report the Supramax index was starting to look over extended and a corrective wave was due. We have now seen 9 consecutive down days as the stochastic enters oversold territory. Not a buy signal, based on previous price action and the stochastic it would suggest the corrective wave should soon find support. Key support is at USD 10,045 keeping the index in bull territory at this point. Upside moves above this level would ...

Read More »

VLCC Tanker Market Looking to Gain More Positive Momentum, Despite Weekly Drop in Fixtures

Stagnation was the “name of the game” for the VLCC tanker market this past week, but according to shipbroker Charles R. Weber and tanker market specialist, the current fundamentals support further rises in the near future. In its latest weekly report, CR Weber said that “VLCC rates were largely stagnant this week with no clear immediate near‐term direction amid a slowing of Middle East demand between the November program’s second and third decades against a sustaining of elevated demand in the West Africa market. The Middle East market observed 25 ...

Read More »

Dry Bulk Shipping: take good care of the recovery says BIMCO

Demand: Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In September, those gains were retained until Chinese Golden Week in early October reduced trip chartering interest, dampened demand and lowered the freight rates. Not dramatically, but noticeably. Capesize ships have (as of 26 October) been in profitable territory (above $15,300 per day) since 11 August and panamaxes likewise, since 5 September (above $10,200 per day). Handymax/supramax/ultramax owners and operators who fixed their ships after 21 August, have also ...

Read More »

Upbeat outlook for dry bulk charter rates from 2018 onwards

Drewry expects dry bulk shipping charter rates to recover from the second quarter of 2018 on the back of strengthening Asian iron ore demand, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. For the medium and long term, Drewry holds the same views as in previous forecasts. Chinese steel production is expected to pick up pace at the end of winter, in the second quarter of next year, by which time production curbs will have relaxed. Strong infrastructure and construction activities will ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping