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HOT PORT NEWS from GAC

Marine works at Junk Bay Tuesday, September 10, 2019, Hong Kong

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SeaCube and Globe Tracker to Supply IoT-Enabled Gensets to ONE

SeaCube Containers, a global leader in refrigerated shipping containers and gensets, and Globe Tracker (GT), a leader in IoT tracking and monitoring solutions for logistics assets, today announce their partnership to provide Internet of Things-enabled gensets for the 6th largest shipping line in the world, Ocean Network Express (ONE). The cutting-edge GT technology provides cellular communication of operational parameters from gensets including, fuel level, battery voltage, events and alarms and even remote shut-off capability for certain genset brands. “We are extremely pleased to be working with SeaCube in providing this ...

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WinGD collaborates with ETH Zurich in predictive maintenance drive

An advanced and sophisticated algorithm based on a physical and data driven engine model has been developed by leading technical university ETH Zürich and WinGD (Winterthur Gas & Diesel Ltd) to enhance predictive maintenance for marine two-stroke engines. The solution, which deploys a new hybrid approach to modelling engine behavior, will be further tested and validated to be applied in future versions of the WinGD Integrated Digital Expert (WiDE) engine data analytics system. WiDE diagnostics are currently being piloted on WinGD engines in operation and were made available for all ...

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Government Hails Maritime Industry As Lifeblood Of Global Trade With Launch Of London International Shipping Week

Maritime trade will take centre stage this week as 20,000 industry leaders head to the capital for London International Shipping Week Cabinet members including the Secretaries of State for Transport, International Trade and Defence as well as the Minister for Maritime will attend events across the week to champion their continued support for the sector, and highlight the UK as a hub for international maritime trade. The event will showcase the unique opportunities for international business that will reinvigorate the UK shipbuilding industry as we leave the EU on October ...

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Seaspan Acquires 9600 TEU Vessel and Enters Into Three Year Time Charter with ONE

Seaspan Corporation (“Seaspan”) (NYSE:SSW) announced yesterday that it has purchased a 2010-built 9600 TEU containership and entered into a fixed rate time charter agreement for the vessel with Ocean Network Express (“ONE”). The time charter will be for a term of 36 months with an option for up to an additional four months. Seaspan expects to take delivery of the vessel by the end of April 2020. Upon delivery of the vessel, Seaspan’s fleet will expand to 113 vessels. Source: Seaspan

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Athenian Shipbrokers S.A. DEMOLITION QUICK UPDATE Week 36, 2019

The correction noticed on the freight markets along with underperforming local fundamentals forced the Sub-Cont. recycling markets

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Two fatal accidents at Indian yards under EU scrutiny

According to local media, two workers recently died on the shipbreaking beach of Alang, India. Two separate accidents took place at well-known scrapping yards that have applied to be included in the EU list of approved ship recycling facilities. On July 29, 50 years old Subash Vishwakarma lost his life at Priya Blue yard – Plot V1. He was working on a ship when a metal plate fell on his head. He was transferred to the nearest hospital in bad condition and pronounced dead at arrival. On September 3, due ...

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U.S. Grains Council targets rest of Asia for ethanol sales as tariffs shut out China

The U.S. Grains Council has stepped up efforts to drum up demand for its ethanol exports across Asia, its officials said, after former top customer China imposed steep import tariffs on the fuel amid the Sino-U.S. trade war, shutting out sales. Council representatives took a booth for the first time at the Asia Pacific Petroleum Conference (APPEC), the largest oil industry gathering in Asia, to promote blending the renewable fuel with gasoline. The Grains Council “is ramping up this year its commitment and presence in Asia market development for U.S. ...

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China CNPC skips Venezuelan oil loading for 2nd month -sources

China National Petroleum Corp (CNPC), a leading buyer of Venezuelan oil, will skip cargo loadings for a second month in September as the state oil giant looks to avoid breaching U.S. sanctions, two sources with knowledge of the matter said. CNPC made a surprise halt last month in loading Venezuelan oil after the Trump administration in early August froze Venezuelan government assets in the U.S. and officials warned companies against dealing with Venezuela’s state-run oil company, Petróleos de Venezuela, S.A., or PDVSA. “CNPC at the group level has made it ...

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Plans for Israeli gas exports to Egypt on track: Egyptian minister

Plans to start exporting gas from Israel to Egypt are on track but further steps are still needed before exports can commence, Egyptian petroleum minister Tarek El Molla said. “Everything is agreed on … countries (involved) have already given their blessings. There is no issue in that,” Molla told reporters during an energy conference in UAE’s Abu Dhabi. “It’s a multilateral deal, a gas deal and a pipeline deal so it is a little bit a lengthy process. That’s why it is taking a little bit of time.” The gas ...

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Putin pushes idea of Russian gas supplies to China via Mongolia

Russian President Vladimir Putin told the head of state-controlled Gazprom (GAZP.MM) to consider making Russian gas exports to China via Mongolia, the Kremlin said. Gazprom is due to start exporting gas to China in December via the eastern Power of Siberia pipeline. “Please, look into the resources of Yamal (Peninsula) as well, in order to gather the necessary resources for the supplies via the western route to China via Mongolia,” Putin told Gazprom head Alexei Miller at a meeting, adding that the partners in China also “lean toward” this route. ...

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Russia central bank does not rule out 2020 oil price at $25/bbl in risk scenario

Russia’s central bank in its risk scenario does not rule out oil prices falling to $25 per barrel in 2020, it said in its updated macro economic forecasts. The risk scenario could be triggered in case of lower demand for energy products around the globe and worsening prospects for global economic growth, it added. In case the risk scenario materializes, Russia’s inflation could jump to 7.0–8.0% in 2020 with gross domestic product falling by 1.5-2.0%. Source: Reuters (Reporting by Elena Fabrichnaya; writing by Polina Devitt; editing by Chris Reese)

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As market welcomes new Saudi oil minister, analyst touts Prince Abdulaziz as ‘master’ of OPEC politics

Saudi Arabia appointed a new energy minister over the weekend, and the oil market appears to have welcomed Prince Abdulaziz bin Salman with open arms, touting King Salman’s son as an energy ministry veteran who likely remains committed to production cuts. Prince Abdulaziz replaces Khalid al-Falih, who held the post for about three years and was removed last week as chairman of Saudi Arabia’s state-owned oil giant, Saudi Aramco. The country has never placed a member of the royal family in charge of the energy ministry before, according to The ...

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Nigeria will do what OPEC asks it to do – minister

Nigeria will do what OPEC asks it to do, its minister of state for petroleum resources said on Tuesday. “It is not every day,” Timipre Sylva said when asked about current overproduction. “We are team players. We will do what OPEC asks.” Source: Reuters (Reporting by Dmitry Zhdannikov, writing by Nafisa Eltahir, editing by Louise Heavens)

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U.S. gasoline prices mixed as crude oil price gains

The prices of regular gasoline were mixed in different parts of the United States as crude oil price rose for nearly a week. Crude oil price at The New York Mercantile Exchange has been gaining since Tuesday, boosted by factors like Saudi energy minister Prince Abdulaziz bin Salman’s words on production cuts. According to a report from the U.S. Energy Information Administration (EIA) on Monday, the average regular gasoline retail price dropped over 1 cent from last week to 2.55 U.S. dollars per gallon for the week ending Monday. Gasoline ...

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