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Ship recycling – new regulatory requirements for owners

By 31 December 2020, all ships entering a European Union port or anchorage will require a valid and certificated Inventory of Hazardous Materials (IHM) on board, according to the requirements of the 2013 EU Ship Recycling Regulation (EU SRR). Also, a requirement under the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships 2009, which is yet to enter into force, is a necessity for the IHM requirements to be fulfilled has been hastened by the EU SRR. LR’s Jennifer Riley, Senior Ship Recycling Specialist, explains ...

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Pakistan bans use of open-loop scrubbers to clean fuel in local waters

Pakistan has prohibited the use of open-loop scrubbers by ships in its waters, the latest country to tighten restrictions on the use of the cleaning devices which strip sulphur from marine fuel and empty the residue in the sea, a regulatory note showed. Since the start of this year, United Nations shipping agency the International Maritime Organization (IMO) has banned ships from using fuels with a sulphur content above 0.5%, compared with 3.5% previously, in the biggest shake up for the oil and shipping industries in decades. The regulations are ...

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MABUX: Bunker market this morning, Jan.23

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs declined on Jan.22: 380 HSFO – USD/MT – 379.48(-1.65) 180 HSFO – USD/MT – 624.00 (-3.00) MGO – USD/MT – 667.43(-6.52) Meantime, world oil indexes fell on Jan.22 as the International Energy Agency’s (IEA) forecast of a market surplus in the first half of this year. Brent for March settlement decreased by $1.38 to $63.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate ...

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KVH Launches KVH Link, New Digital Content Service for Seafarers and Commercial Fleets

KVH Industries, Inc., (Nasdaq: KVHI), announced yesterday that it has launched KVH Link, a new digital content service that addresses two pressing needs in commercial maritime: News and entertainment content to improve crew wellbeing and operations data to optimize vessel performance. Building on KVH’s past experience providing content for crew wellbeing and its patented IP-MobileCastTM technology for content delivery, KVH Link provides timely and popular news, sports, movies, TV, music, karaoke, podcasts, documentaries, trending social videos, and more in a sleek new user interface designed with digital natives in mind. ...

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CMA CGM introduces NETWORKING INTERMEDIATION SERVICES, a unique, unprecedented solution for business networking

The CMA CGM Group, a world leader in shipping and logistics, is pleased to announce the launch of NETWORKING INTERMEDIATION SERVICES, the first and only business matchmaking solution on the market. NETWORKING INTERMEDIATION SERVICES, a unique, unprecedented solution to accelerate business growth for the CMA CGM Group’s customers In line with its Customer Centricity strategy, CMA CGM is committed to providing customized support to its clients as they pursue international expansion and business development. With NETWORKING INTERMEDIATION SERVICES, the Group gives them the ability to expand their activity worldwide, to ...

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MAN Cryo to Supply Icebreaking RoRos with Fuel Gas Supply System

MAN Energy Solutions’ marine LNG fuel-gas-system manufacturer –has signed the contract to supply the LNG fuel-gas supply systems to Wallenius SOL, the Swedish shipping line, in connection with the building of two RoRo newbuildings in China at Yantai Raffles shipyard. MAN Energy Solutions has also been selected to supply 2 × 9L28/32DF dual-fuel auxiliary engines to each vessel. Wallenius SOL states that the vessels will run on LNG, making them among the most environmentally efficient vessels in that part of the world. Upon construction, the vessels will be the largest ...

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Cargo Volumes In Panamanian Ports Up 4.7% To 7.3m TEUs

In 2019, cargo volumes in Panamanian ports totaled 7,346,859 TEUs, up 4.7% compared with the year before when cargo volumes showed a slight growth of 1.7% to 7.014, 410teu. “In 2018, Panamanian ports hit the 7MTEUs milestone for the first time and just last year cargo volumes increased by 4.7% to 7.34mteu of cargo volumes, making 2019 the best port performance,” said Noriel Arauz, Administrator of the Panama Maritime Authority (AMP) and Minister of Maritime Affairs. “We expect this positive trend to continue in 2020,” he added. “I am pleased ...

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Fujairah data: Oil product stocks climb to 4-week high on heavy distillates

Oil product stockpiles at the Middle Eastern hub of Fujairah climbed 4.4% in the past week to a four-week high, led by gains in heavy distillates and residues, according to data released Wednesday by the Fujairah Oil Industry Zone. Total stocks on January 20 stood at 21.301 million barrels, the most since December 23. Heavy distillates and residues, which includes fuel oils used for marine bunkers and power generation, climbed 15% to 11.794 million barrels, the highest since December 9, data compiled by S&P Global Platts showed. International Maritime Organization ...

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YILPORT Implements Navis N4 3.7 at Puerto Bolivar Terminal

Navis, a part of Cargotec Corporation, and the provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, announced that Puerto Bolivar Terminal, operated by YILPORT, went live with Navis 3.7. The Navis project was part of a full terminal modernization effort to help take them from a manual terminal down a path of implementing more automated and data-driven services to increase terminal capacity and strengthen the terminal’s operational performance Located in Ecuador, YILPORT Puerto Bolivar handles over ...

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Fourth Canal bridge design decision this week

Work on the $1.42 billion fourth bridge over the Panama Canal should start this quarter following a review meeting between the Minister of Public Works, Rafael Sabonge, and with the Chinese Panama Fourth Bridge Consortium (CPCP) of the changes d to construction costs and time. “We hope to be able to communicate this week the decision about whether there is a new re-alignment of the project or if the alignment that is currently in the contract is maintained,” Sabonge said on Tuesday. January 21. The minister said that on Wednesday ...

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Mitsui buys Australian heavy sweet crude Van Gogh at large premium for IMO fuel -sources

Japanese trader Mitsui & Co has bought a cargo of Australian Van Gogh heavy sweet crude at a large premium to meet shippers’ demand for low-sulphur fuel, trade sources said. It bought the 300,000-barrel cargo for March loading at a premium of $27-$28 a barrel to dated Brent from Japanese explorer Inpex Corp, the sources said. The deal could not be independently verified as the companies do not comment on deals. Japanese traders Mitsui and PetroSummit have paid record premiums to secure Australian heavy sweet crude supplies in recent months. ...

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Aramco sells LNG cargo to South Korea’s S-Oil – sources

Aramco Trading Co, the trading arm of oil giant Saudi Aramco, has sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corp, as the company looks to ramp up its LNG business, four industry sources said. The cargo is for delivery in early March and was traded on a delivered ex-ship (DES) basis, the sources said. The cargo was sold at around $4.40 to $4.60 per million British thermal units (mmBtu), two of the sources said, though this could not immediately be confirmed. Companies typically do not comment ...

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Global copper market to see another year of volatile prices

As we look to 2020, copper is faced with a finely balanced market. For now, positive investor sentiment around copper’s fundamentals is supporting higher prices. Stronger demand growth is underpinned by new semis capacity, while mine supply growth will be reliant on additions from both projects and existing mines. Meanwhile, the recent approval of new copper scrap re-categorisation standards in China could yet determine the mix of copper raw material imports into the country and influence global scrap dynamics. These fundamental factors, in addition to the strong geopolitical headwinds across ...

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Soybean Farmers’ Fate Is Now In Chinese Hands

President Trump signed the Phase One trade deal with China last Wednesday. One of the most touted goals is China importing $32 billion of additional agricultural goods in 2020 and 2021 above the amount bought in 2017. There are also monetary goals for manufactured goods, energy and services in the document, which brings the total for the four categories to $200 billion over two years. Due to the large increases needed to hit the targets, there is a lot of uncertainty that China will be able to deliver on them. ...

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Resilient Chinese Steel Industry Holds Promise for Iron Ore

Per the latest data, the Chinese steel industry has been resilient despite a slowing economy and the prolonged trade war with the United States. The country’s steel demand is expected to rise 2% in 2020. This helped lift prices of iron ore — the main steel making commodity. Notably, China, which produces about half of the world’s steel, imports more than 70% of the world’s seaborne iron ore. Further, concerns about supply crunch due to tropical cyclone Claudia in Western Australia is aiding iron ore prices. China Steel Industry Holds ...

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