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China’s Belt And Road Projects Could Be Improved In 5 Ways

It depends on who you talk to whether China’s massive Belt and Road Initiative is a good thing or a bad thing. Washington, DC has gone so far as to contend that this series of infrastructure investments to connect China with economies throughout Asia and into the Middle East and Europe is a dangerous China attempt, to quote Secretary of State Michael Pompeo, “to buy an empire.” Vice President Michael Pence has warned that the projects would drown Belt and Road partners in a “sea of debt.” On the positive ...

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Tanker Market Rates 26/06/2019

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Oaktree Capital Management LP Sells 1,083,823 Shares of Euronav NV (NYSE:EURN)

Oaktree Capital Management LP lowered its position in shares of Euronav NV (NYSE:EURN) by 11.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,107,246 shares of the shipping company’s stock after selling 1,083,823 shares during the quarter. Euronav makes up about 1.3% of Oaktree Capital Management LP’s holdings, making the stock its 14th largest holding. Oaktree Capital Management LP owned 3.63% of Euronav worth $66,074,000 at the end of the most recent reporting period. Other large ...

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Two NYK Ships Receive Japanese Pilots’ Best Quality Ship Award

The wood-chip carrier Forestal Reina and the methanol tanker Kohzan Maru III, both NYK-operated vessels managed by NYK Group companies, have been awarded the 2018 Best Quality Ship Award by the Japan Federation of Pilots’ Associations (JFPA).* An awards ceremony was held on June 21 at the Todofuken Kaikan in Tokyo and was attended by Shinya Hitomi, NYK corporate officer and related parties. The Best Quality Ship Award was founded in fiscal 2003 with the aim of enhancing awareness of not only safe vessel operations but also the need for ...

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171% Increase in Interest for Tanker Chartering Course

Lloyd’s Maritime Academy, the experts in life-long learning for maritime professionals, has witnessed a 171% surge in delegates registering interest in its ‘Certificate in Tanker Chartering’ course which starts this September. Course Director for the Certificate in Tanker Chartering, Mathias Haase explains: “This uplift reflects the impending IMO 2020 regulations which are set to become the biggest fundamental change the maritime industry has seen for the past 20 years. The regulations present completely different aspects to trading patterns, as well as the supply and demand of oil and there will ...

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Shipping tech finally has its ‘moment’ – can it get it right?

Technology has evolved to the point where adoption is much harder to avoid – even for grizzled old-school ocean ship owners notoriously averse to change. Throw environmental mandates into the mix that heighten pressure to find efficiencies, and it appears the moment for maritime technology and software has finally arrived. The Marine Money Week conference in New York on June 17-19 featured a much greater emphasis on software than in previous years; clearly, it’s no longer just about financing ships, it’s about financing ship tech as well. According to Scott ...

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Chelsea investing $34 million in two new ships

Chelsea Logistics and Infrastructure Holdings Corp. is investing around $34 million (about P1.7 billion) for the acquisition of two new ships this year, which will be used to boost its existing passenger routes and open new ones. Chelsea President and Chief Executive Officer Chryss Alfonsus V. Damuy said in a mobile message Friday the company received a 67-meter roll-on, roll-off passenger (ropax) vessel in April, which will be deployed for the Cebu-Surigao-Cebu route in July. “Next month, we will deploy one brand-new ship for the Cebu-Surigao-Cebu (route)… We (also) have ...

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Vitol building Malaysian oil refinery to meet new low-sulphur ship fuel rules

Vitol, the world’s largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulphur fuel for ships, a senior company official said. The project consists of a crude distillation unit that can process 30,000 barrels per day of crude and is located on the same site as Vitol’s oil storage terminal at Tanjung Bin in the southern Malaysian state of Johor, Vitol Asia’s President and Chief Executive Officer Kho Hui Meng said. A construction unit under China National Petroleum Corp ...

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Carnival selects KONGSBERG integrated bridge with dynamic positioning functionality for new expedition cruise ships

KONGSBERG has signed an agreement with the shipbuilding firm T.Mariotti to provide its K-Bridge Integrated Bridge System (IBS) with K-Pos Dynamic Positioning (DP) functionality for two ultra-luxury, purpose-built expedition cruise newbuilds to Carnival Corporation. The ships are under construction at the T.Mariotti yard in Genova, Italy for the ultra-luxury cruise line Seabourn, a brand of Carnival Corporation. The first, Seabourn Venture, is due to enter service in June 2021, while her yet-to-be-named sister ship is scheduled for launch in May 2022. As Seabourn’s first purpose-built expedition ships, every detail is ...

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Seagull introduces Videotel Training title – Seafarers Mental Health and Wellbeing

As a direct response to the joint ownership and new collaboration between Seagull and Videotel, Seagull is happy to offer a NEW and FREE training title on Seafarers Mental Health and Wellbeing. The title is produced by Videotel in partnership with ISWAN – International Seafarers Welfare and Assistance Network , and is offered exclusively for existing Seagull customers. Recently Oakley Capital acquired majority stakes in both Seagull and Videotel. While there are no planned organizational changes and the companies will continue to operate as separate units, there will be collaboration ...

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Concordia Damen ships 18 hulls from Shanghai to Rotterdam

On Monday, 17th June, heavy-lift vessel Black Marlin departed Shanghai. On deck with eighteen Concordia Damen inland shipping vessel hulls and a Damen Crane Barge 6324, bound for Rotterdam. Concordia Damen regularly conducts such heavy-lift transportations as a means of providing its customers with cost-efficient vessels. The hulls and crane barge had been constructed at yards in China. They are scheduled to arrive in the Port of Rotterdam mid-August. Upon arrival the hulls will be towed to Concordia Damen and other local yards for outfitting and the Crane Barge to ...

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EGA, Abu Dhabi Ports welcome largest bulk cargo ship to ever call at Khalifa Port

Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, today announced the arrival of the first fully-laden Capesize vessel to call at any GCC port at its quay at Khalifa Port in Abu Dhabi, inaugurating the import of bauxite for EGA’s new Al Taweelah alumina refinery using these huge bulk cargo vessels. EGA imports bauxite ore from the Republic of Guinea to supply Al Taweelah alumina refinery, and using Capesize vessels reduces shipping costs per tonne. Abu Dhabi Ports has modified the approaches ...

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Low Water Level of Rivers Has Negative Effect on Panama Canal

The low water level of rivers is affecting the Panama Canal, whose restrictions in draft for the ships that go through it has caused 40 million dollars in expenses. According to the executive vice president of the Panama Canal Authority (ACP), Carlos Vargas, so far this year, the interoceanic route has reported the driest summer in history, although the third set of locks has three containers to reuse water in each of them. He noted that the effects of climate change have affected the country since the 1970s, especially due ...

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India’s MRPL buys Upper Zakum crude in its 1st sour crude tender in 2019- source

Indian refiner MRPL has bought 1 million barrels of Upper Zakum crude in the first sour crude tender issued by the refiner this year, a source familiar with the matter said. * The tender comes after India stopped lifting Iranian oil in May as Washington did not extend waivers from sanctions on Iran for Iranian oil buyers * MRPL bought the cargoes from Shell at $2.05 a barrel above Dubai quotes and they will load on Aug. 1-10, the source said Source: Reuters (Reporting by Florence Tan)

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Column: Funds shed more CBOT shorts, though corn bulls should heed the wheat longs

Speculators’ optimism in Chicago-traded grains and oilseeds built further in the week ended June 18 as the U.S. corn and soybean crops are off to their latest-ever start, creating high uncertainty over production possibilities. But the market took a breather last week as CBOT corn futures hit a five-year high and traders weighed changes to U.S. weather forecasts, trying to figure out what they mean for the unprecedented growing season. In the week ended June 18, hedge funds and other money managers increased bullish bets in CBOT corn futures and ...

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