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On the Pacific Coast of Costa Rica, in the “jungle shipyard” – El AstilleroVerde – an impressive milestone has been achieved. On the 20th of February 2019, the award-winning company, SAILCARGO INC., hoisted the first frame of their vessel, the 148ft (45m) long tallship, Ceiba, completely by hand. The international team is excited as this accomplishment marks the beginning of a new phase of construction of the three-masted square-topsail schooner, which is designed to carry cargo between the west coast of the Americas. Ceiba will be a flagship for Costa ...

Next weekend marks the first anniversary of the creation of the junior ministry tasked with raising the standard of shipping to another level. It may have taken President Anastasiades six years to implement his pre-election promise, but at least he delivered, so let’s give him credit for that. The Deputy Ministry of Shipping has been upgraded from the governmental office of the Department of Merchant Shipping, at a most crucial time for the maritime community, especially the Cyprus cluster. No matter how many times we say this, we need to ...

ABS is now offering Remote Survey with 24-hour worldwide coverage and increased flexibility and efficiency, enhancing the traditional survey experience by allowing surveyors to perform certain surveys without being physically present. “We are committed to harnessing digital technologies to solve owners and operators challenges to improve performance, control costs, and drive efficiencies across the industry, while never compromising safety,” said John McDonald, Senior Vice President, Western Hemisphere Operations. “This year we introduced ABS e-Certificates and our Smart Guidance. Now, by offering easy direct access to our global network of surveyors, ...

Over the previous week demolition markets in Sub-Cont. kept their steady course. Bangladesh remained the most attractive recycling

As long as Iran is able to export its oil via the Strait of Hormuz, the waterway would be open, Navy Commander of the Islamic Revolution Guards Corps (IRGC), Ali Reza Tangsiri, said. “We have already said that as long as our oil is exported from the Strait of Hormuz and there is no obstacle to the departure and arrival of our ships,” the waterway will remain open, Tangsiri was quoted as saying by Tasnim news agency. “Iran, as the guardian of the Strait of Hormuz who has full control ...

Four companies, including a large North American firm, expressed interest to take over shipbuilder Hanjin Heavy Industries and Construction Philippines Inc., the Subic Bay Metropolitan Authority said over the weekend. SBMA administrator and chairman Wilma Eisma said all four showed great interest in the Zambales-based shipbuilder. She did not identify the four parties but said none of them were Chinese. “Two [companies] do not want to disclose and represented only by lawyers. The other two are a North American company and a European company. These are big companies and they ...

The country’s two seaports handled combined cargo traffic of over 23million metric tonnes last year, representing an 8 percent increase over the 21 million metric tonnes recorded in 2017, the Ghana Shippers’ Authority (GSA) has said. The Port of Tema handled 15.50 million metric tonnes of the total traffic, representing 67 percent of the total seaborne trade, while the Port of Takoradi recorded 7.62 million metric tonnes, representing 33% of the total seaborne trade. Transit/transshipment imports amounted to 1,043,039 metric tonnes, while transit/transshipment exports stood at 89,629 metric tonnes. Total ...

During Latvian president’s visit to Germany, Transport Ministry’s state secretary Kaspars Ozoliņš Hafen Hamburg Marketing e.V. CEO Ingo Egloff signed a memorandum of understanding to establish closer cooperation between Latvian and German ports, as confirmed by the ministry’s Communication Office. This memorandum provides for improving connections between Latvian and German ports, as well as further developing integrated marine and railway transport corridor between Europe and Asia. It is planned to develop cooperation in exchange of experience with adoption of new technologies, as well as development of logistical services and manufacturing ...

The United States has imposed tough sanctions on Venezuela’s oil industry to put pressure on President Nicolás Maduro to step down. Oil dominates Venezuela’s economy, accounting for almost all of its export earnings. Its biggest customers have been the US, followed by India and China. But over the past decade, oil production has collapsed and the country is in a deep economic crisis. So what effect are the sanctions having and who is buying its oil now? What are the sanctions? The sanctions block US companies doing business with Venezuela’s ...

Indian Oil Corp is seeking a liquefied natural gas (LNG) cargo for delivery in April, two industry sources said. The company is seeking the cargo for delivery into the port of Dahej on April 20, one of the sources said. The tender closes on March 27 and is valid for a day, the source added. Energy companies do not typically comment on such commercial matters. Source: Reuters (Reporting by Jessica Jaganathan; Editing by Joseph Radford)

Japan’s crude steel production fell 9.8% year on year to a ten-year low of 8.14 million mt in January 2019, reflecting a 3.8% drop from December 2018, the latest data released by the Japan Iron & Steel Federation showed. Japan’s crude steel output was last lower on July 2009 at 7.66 million mt A JISF official said on Monday that the lower output was not due to a slowdown in demand, but rather from supply-side issues such as issues at production facilities. “Facility problems physically lowered overall steel output,” he ...

“Let your plans be dark and impenetrable as night,” is one of many maxims in The Art of War penned by the Chinese general, military strategist and philosopher Sun Tzu. The advice may be 2,500 years old, but it still seems to be relevant in the great, or then again, maybe not so great Australian coal blockade on the Dalian docks in China’s north east. Even the weapons used in the skirmish are a bit hazy. Those on the ground, trading coal, are giving mixed messages; some say Australian coal ...

Chicago wheat slid for a second session on Monday to its lowest in 10 months as the market is being weighed down by abundant global supplies. Soybeans slid, giving up last session’s gains, as rapidly advancing harvest in top exporter Brazil is boosting global supplies. The most-active wheat contract on the Chicago Board Of Trade was down 0.4 percent at $4.71 a bushel by 0314 GMT, after dropping to its lowest since April 17 at $4.67 a bushel. Wheat closed down 4 percent on Monday. Soybeans fell 0.3 percent to ...

Supply disruptions are anathema to commodity markets. Steel prices on the London Metal Exchange rose as much as 10% after an accident at a Brazilian mine hit iron ore production. The accident and the resultant regulatory action could affect 70 million tonnes of iron ore production, amounting to 5% of global imports. These concerns drove up iron ore rates, lifting steel prices in international markets. Tracking the gains, prices in India perked up, too. Analysts expect the Brazilian regulator to tighten mining norms, restricting exports from the country in the ...

Japan’s top steelmaker Nippon Steel & Sumitomo Metal aims to boost crude steel output to nearly 11 million tonnes a quarter in the year from April 1, after system troubles cut production and its profit outlook this year, a senior executive said. “We should be able to produce 11 million tonnes of crude steel a quarter, but actual output has been falling short of it in the past few years,” Nippon Steel Executive Vice President Katsuhiro Miyamoto told Reuters in an interview on Friday. The average of estimated quarterly output ...