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MMi Daily Iron Ore Index Report September 13 2019

Prior to the Mid-Autumn Festival holiday, activity in the port stock market fell off. Traders stood on the side-lines, especially as the iron ore

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Decarbonice

This video is about decarbonice

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Drewry: World Contained Index Down By 5.6%

The composite index decreased 5.6% this week and, 20.9% down as compared with same period of 2018. The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1446 per 40ft container, which is $22 higher than the five-year average of $1,423 per 40ft container. Spot rates from Shanghai to Genoa continue to tumble – and as a result, Drewry’s composite World Container Index fell 6% or $82 to $1386.65 per 40ft container. Transpacific rates declined this week as freight rates from Shanghai to Los Angeles lost ...

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Technology, geopolitical uncertainty and environmental regulations will force change throughout the shipping industry

Global law firm Reed Smith yesterday hosted a panel of shipping experts to discuss the issues having the biggest impact on the maritime industry. As part of London International Shipping Week, representatives from a cross-section of the industry took part in a lively debate on international trade and the wider industry including technology, environmental issues, sanctions and geopolitical uncertainty. The panel members who took part in the event at Reed Smith’s Broadgate Tower offices in Shoreditch comprised: Nick Shaw, executive officer of International Group P&I and former global head of ...

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Low-sulphur gasoil deliveries for September fall at expiry

Deliveries of low-sulphur gasoil for September fell to 1,988 lots, or 198,800 tonnes, their lowest since June, InterContinental Exchange data showed on Thursday. The contract expired at $575.75 a tonne, up from $551.50 at the August expiry, when deliveries reached 2,645 lots. Source: Reuters (Reporting by K. Sathya Narayanan in Bengaluru, editing by Deepa Babington)

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MABUX: Bunker market this morning, Sep.13

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated slight downward trend on Sep.12: 380 HSFO – USD/MT – 390.44(-2.21) 180 HSFO – USD/MT – 432.42(-1.47) MGO – USD/MT – 656.80(-6.13) Meantime, world oil indexes fell on Sep.12 after a meeting of the OPEC+ alliance yielded no decision on deepening supply cuts but focused instead on bringing Nigerian and Iraqi output down to their agreed quotas. Brent for November settlement decreased by $0.43 to $60.38 ...

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Determining the ships position using only the stars, a compass and a sextant

This year’s travelling intern, Henrik Reiten spent 9 weeks on board the CABU MV Banastar, and learnt a thing or two that he did not anticipate. Reiten is a second-year student in Marine Technology at the Norwegian University of Science and Technology in Trondheim and will be starting his third year now that he has returned from his time on board the MV Banastar. This year’s Sea Going Experience candidate shares: It all started with a trip to the head office in Oslo, where I had my medicals done, applied ...

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MOL Starts Demonstration Test of Vessel Image Recognition System Using AI Technology on Nippon Maru -FOCUS EYE Project, Rising to the Developing Automated Watch-keeping

Mitsui O.S.K. Lines, Ltd. announced the joint development, along with SenseTime Japan Ltd., of a new vessel image recognition and recording system, and the system’s installation for demonstration testing aboard the cruise ship “Nippon Maru” operated by Mitsui O.S.K. Passenger Line, Ltd. The system’s graphic recognition engine was developed by incorporating MOL’s knowledge and applying artificial intelligence (AI) deep learning technology, allowing it to recognize surrounding vessels. The system recognizes and automatically records vessels with high accuracy using a terminal equipped with a graphic processing unit (GPU) and ultrahigh-resolution cameras. ...

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Eight Piracy and Armed Robbery Incidents Reported Against Ships in Asia During August

ReCAAP ISC issued the August 2019 Report on the situation of piracy and armed robbery against ships in Asia. Summary A total of eight incidents of piracy and armed robbery against ships were reported in Asia in August 2019 Of the eight incidents, two were piracy incidents and six were incidents of armed robbery against ships There was no report of abduction of crew in the Sulu-Celebes Seas and waters off Eastern Sabah; and no hijacking of ships for theft of oil cargo reported in August 2019 However, the abduction ...

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Chevron Marine Lubricants Launches New Gear Oils For Marine Clutched Gear Systems

Chevron Marine Lubricants have introduced a new range of premium high-performance gear oils designed for use in industrial and marine clutched gear systems, where extreme load and shock load protection is required. In developing Meropa® MG gear oils, Chevron Marine Lubricants has responded to customer and original equipment manufacturer (OEM) demand for gear box oils designed to ensure optimal performance in Renk and Flender/Siemens, Reintjes and Brunvoll clutched gear boxes, extensively used in marine vessels. As such, Meropa MG gear oils carry approvals from those gearbox manufacturers, and also meet ...

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FRO – Extension of expiry date of first option for two Trafigura Suezmax tankers

Reference is made to the notice of 23 August 2019, whereby Frontline Ltd. (“Frontline”) (NYSE and OSE: FRO) announced an agreement with Trafigura Maritime Logistics (“TML”), a wholly-owned subsidiary of Trafigura Pte Ltd (“Trafigura”) and certain related entities, to acquire ten Suezmax tankers, with two separate options to acquire two plus two additional Suezmax tankers. The first option to acquire two Suezmax tankers expires on 12 September 2019. Frontline and TML have agreed to extend the expiry date for the first option to 18 September 2019. Source: Frontline

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Port Report: Tariff increases bring import container front loading

Shippers responded to the last round of tariff increases on imports from China by front loading containers into U.S. ports in July, the National Retail Federation said. After bottoming out this month, the NRF forecasts container volumes will rise in October and peak in November. July’s volume of 1.96 million twenty-foot equivalent units (TEUs) was 100,000 TEU better than the last forecast estimate for the month and the biggest upside surprise to estimated volumes since January 2019. The Port of New York and New Jersey is one beneficiary of the ...

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Throughput of Russian seaports in 8M’2019 grew by 2.9% to 556.3 million tonnes of cargo (detalization)

In January-August 2019, seaports of Russia handled 556.3 million tonnes of cargo (up 2.9%, year-on-year), says press center of the Association of Commercial Sea Ports. Transshipment of dry cargo totaled 248.0 million tonnes (-4.2%) including 116.9 million tonnes of coal (+8.4%), 24.0 million tonnes of grain (-35.3%), 37.4 million tonnes of containerized cargo (+6.1%), 18.2 million tonnes of ferrous metal (-11.5%), 12.0 million tonnes of mineral fertilizers (+2.1%), 5.9 million tonnes of ore (+26.2%), 3.3 million tonnes of timber (-9.4%). Transshipment of liquid bulk cargo totaled 308.3 million tonnes (+9.5%) ...

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British Ports Association Statement on Operation Yellowhammer Leak

British Ports Association (BPA) responds to the publication of the Operation Yellowhammer ‘reasonable worst case planning assumptions’. The BPA has consistently said that a no-deal scenario will cause disruption at some ports and that the best Brexit scenario is a comprehensive deal that supports frictionless trade. It is critical that in any scenario, the Government prioritises the flow of port traffic so that it remains fluid and does not introduce any additional checks at the frontier. If necessary, any new checks at Ro-Ro ports should be facilitated inland. Richard Ballantyne, ...

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Petronas to provide LNG bunkering early next year

Petroliam Nasional Bhd (Petronas) is ready to provide commercial liquefied natural gas (LNG) bunkering services by January 1, 2020, in support of the government’s ambition towards making Malaysia a bunkering hub, said vice president LNG marketing and trading Ahmad Adly Alias. He said the International Maritime Organisation (IMO) decision to implement sulphur cap on marine fuel beginning January next year has triggered a further transition to LNG as an alternative and cleaner bunker fuel option. “The LNG share of bunker market is expected to increase up to seven per cent ...

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