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

Weekly US coal carrier departures totaled 32 in the week ended September 14, down four from the previous week, data from cFlow, Platts trade flow software, showed. The departing laden and part-laden ships carried nearly 2 million dwt, down about 5% from the week before. US Gulf Coast departures dropped to their lowest level of 11 since the week ended July 14, when there were four. West Coast departures, on the other hand, had eight, the most in five weeks. From the Gulf, 530,431 dwt was carried on the 11 ...

Frank H. Marmol a Naval Engineer with more than 30 years’ experience in classification societies, statutory certification and services processes has been appointed the new Chief Technical Inspector & Executive Director of the representative office of the Panama Maritime Authority in Miami, Florida. Eng. Marmol until recently was the Principal Surveyor of InterMaritime Group. This new appointment will place Eng. Marmol at the helm of the SEGUMAR office in Miami for the next five years. His predecessor, Eng. Napoleon Smith, has just completed his assignment as the person in charge ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) turned into downward correction on Sep.18: 380 HSFO – USD/MT – 463.74(-12.33) 180 HSFO – USD/MT – 499.06(-14.67) MGO – USD/MT – 685.81(-11.62) Meantime, world oil indexes fell on Sep.18 extending losses from the previous session after Saudi Arabia’s energy minister said the kingdom will restore lost oil production by the end of the month. Brent for November settlement decreased by $0.95 to $63.60 a barrel on ...

POSCO has succeeded in mass-producing high alloy steels that are essential for sulfur oxide (SOx) scrubber systems for ships, the company said. Due to the stringent International Maritime Organization (IMO) regulations to remove sulfur and harmful emissions from ships, the SOx scrubber will be applied to more than 12,000 vessels over the next five years. Through extensive research and development, POSCO has succeeded in mass-producing “S31254,” a high-alloy stainless steel developed for use in seawater. The steel contains high levels of molybdenum and nitrogen, providing high resistance to pitting and ...

GreenSteam, the pioneer of machine learning for improved hull and vessel performance in shipping, announces that it has acquired BMT’s data collection and performance optimization subsidiary firm SMART. BMT, a leading international design, engineering, science and management consultancy, has sold its UK-based subsidiary firm SMART to GreenSteam. GreenSteam leverages machine learning and AI to provide next-generation platforms and services to drive sustainable development of global seaborn trading. The purchase of SMART by GreenSteam, follows a strategic business review by GreenSteam to expand its portfolio of services, extend its data collection ...

The concept of freeports has been in the news in the UK recently, as the government has proposed the creation of 10 such entities around the country, promising the creation of thousands of new jobs and the “turbo-charging” of local economies. Laudable aims in theory but the reality is somewhat more challenging. Freeports are designated areas of a country which are inside the geographic boundary of that country but are considered to be outside of it for the purposes of import duties and tariffs. These duties are not payable until ...

Hamburg-based Asset and Investment Manager MPC Capital AG (“MPC Capital”) and Bremen-based shipping company ZEABORN GmbH & Co. KG (“Zeaborn“) join forces in commercial ship management. Under the traditional shipbroker brand HARPER PETERSEN the two companies are merging their activities in containership chartering and commercial management in a newly found joint venture. Zeaborn contributes their activities of HARPER PETERSEN to the joint venture, whilst MPC Capital adds the business of CONTCHART. The new joint HARPER PETERSEN platform will be amongst the largest commercial containership managers globally. The company will manage ...

ABS and Samsung Heavy Industries (SHI) are to collaborate on the use of digital technologies to streamline designing, building, and classing assets in a joint development project (JDP) signed today at Gastech 2019. The JDP encompasses 3D digital disclosure, data exchange, and the use of analytics to support the new construction process and pilot the survey of the future. “Data and digitalization are revolutionizing the marine and offshore industries. This JDP is further evidence of how ABS is leading the way and working with innovative partners such as SHI to ...

chainPORT – the multilateral partnership of the world leading ports – has just concluded its 5th Annual Meeting which was hosted on September 16 & 17 by the Port of Montreal. While welcoming delegates to the event, Sylvie Vachon, President and CEO of the Montreal Port Authority mentioned: ‘After participating in the chainPORT Hackathon and hosting the chainPORT Academy last year, we are very proud to host the 5th edition of the Annual General Meeting. We see our membership into chainPORT as significant in facilitating and accelerating our digital transformation ...

Russia’s Surgutneftegaz issued a spot tender late on Tuesday to sell 400,000 tonnes of ESPO Blend crude loading from Far East Kozmino port in second-half November, far ahead of the loading plan as premiums for the grade topped $7 per barrel. Surgutneftegaz offered buyers four cargoes of ESPO Blend with loading dates on Nov. 14-20, 18-24, 22-28 and 24-30, traders said. The tender closes on Sept. 18 at 5 p.m. (1400 GMT). The early tender issue is unusual as the ESPO Blend loading plan for November is expected only around ...

Vietnam is feeling the pressure to secure adequate crude supply as geopolitical tensions in the Middle East continue to raise Asia’s energy security concerns, with state-run Binh Son Refining and Petrochemical Co. aiming to ramp up crude imports from the US and West Africa. As rival Northeast Asian importers actively snap up both sour and sweet spot crude cargoes from a wide variety of sources to cover any potential shortfall in Saudi term supply, Hanoi decided to act quickly to secure its own requirements. BSR, an affiliate of the state-run ...

India is keen to ship in higher volumes of liquefied natural gas (LNG) from Australia, but at the same time, the country has indicated that higher imports will be dependent on renegotiating existing long-term contracts to better reflect the fall in spot LNG prices. At a recent government-to-government dialogue, it was stated that with India moving to a gas-based economy, there existed significant scope to enlarge India-Australia energy cooperation. However, to achieve this, long-term contracts with Australian suppliers would need to be renegotiated as Indian consumers were “price sensitive” and ...

Coal production continues to increase in India and the country is likely to surpass the US as the world’s second largest coal producer this year, according to KPMG partner Niladri Bhattacharjee. The country is projected to produce roughly 815 million mt in fiscal year 2019-2020, up from 730 million mt in FY 2018-2019, Bhattacharjee said at the mJunction Indian Coal Markets conference in Calcutta. India’s fiscal year runs from April 1 to March 31. US coal production is projected to total 674 million st (611 million mt) in 2019, down ...

Industrial metals have fallen into two very distinct camps over the course of 2019. In the one corner is the ferrous complex. The Shanghai Futures Exchange’s (ShFE) steel rebar and hot-rolled coil contracts are both showing year-to-date gains of over 21%. In the other corner are the base metals traded on the London Metal Exchange (LME). Copper, the metal with an honorary degree in economics, is now trading flat relative to the start of January. So too are other core LME contracts such as aluminium and zinc. Nickel is the ...

Saudi Arabia will try to maintain oil supplies to its major customers by drawing down crude stored at tank farms in the kingdom and in its global network while repairing and replacing installations damaged in the recent attacks. Saudi Arabia reported domestic crude stocks of 180 million barrels at the end of July, government data supplied to the Joint Organisations Data Initiative showed. Saudi Aramco, the national oil company, also maintains a few tens of millions of barrels of forward storage near its customers in leased tank farms in the ...