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In 2019, Oldendorff Carriers signed a research agreement with the Massachusetts Institute of Technology’s (MIT) Center for Bits and Atoms (CBA). The purpose of the research agreement was to investigate disruptive improvements in ship design, propulsion, and alternative energy sources to help achieve the enhanced decarbonization targets to 2050. As part of their agreement, Oldendorff Carriers asked MIT to conduct a study on the long-term stability and degradation of a B20 advanced biofuel blend. Oldendorff would like to share the results of the study with the shipping community to help ...

NYK Line (“NYK”) and NTT DATA JAPAN CORPORATION (“NTT DATA”) will establish a system to aggregate total greenhouse gas (“GHG”) emissions from the NYK head office and approximately 80 domestic and overseas consolidated subsidiaries by December 2023 to visualize the NYK Group’s GHG emissions in a comprehensive manner. Of the NYK Group’s GHG emissions, all of the following have already been disclosed: Scope 1 emissions, which represent direct emissions from fuel use, etc.; Scope 2 emissions, which represent indirect emissions from electricity use, etc.; and some categories of Scope 3 ...

Technology group Wärtsilä will supply the Cargo Handling Systems for five new very large LPG carrier vessels to be built at the Hyundai Heavy Industries (HHI) yard in South Korea. The order with Wärtsilä was booked in Q3, 2023. The ships have been contracted by Norwegian ship owner Solvang in a joint venture with Gunvor Group Ltd in Geneva. The VLGCs are of Panamax size and form the next generation of eco-vessels. “Being a trusted partner to our customers is something we have worked hard to achieve. It comes through ...

Auramarine, the leading provider of fuel supply systems for the marine, power and process industries, today announced a representative agreement with the Dutch company THB Verhoef. The agreement will see THB Verhoef become an official sales agent and distributor for the Benelux region and Greece, selling and promoting Auramarine’s newly launched Auramarine Fuel Economiser (AFE) solution, including spare parts and installation services. Commenting on the announcement, John Bergman, CEO, Auramarine said: “Like Auramarine, THB Verhoef has a long history and experience of successfully serving the maritime industry with an innovative ...

Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online (www.shipbid.net) from 16:00 to 16:30 (Beijing time) on November 29th, 2023. 1. Bidding Object “Hai Yue 167”（ex FAR STREAM） IMO No.: 9346081 Type: Tug/Offshore Supply Ship/Fire Fighting Ship I Class: CCS Class Notation: ★ CSA Tug/Offshore Supply Ship/Fire Fighting Ship I ★ CSM AUT-0; DP-2; SCM Flag: China PoR: Yangpu Built time: July 10th, 2006 Builder: SIMEK A/S Flekkefjord, Norway CCS Classed: November 16th, 2022 LOA/Breadth/Depth: 78.3m/17.2m/8.3m Summer DWT: 2888.64t, Max Draft:7.00m GRT/NRT: 3100/1057 SS: ...

Ascenz Marorka, a GTT company, announces it has signed a contract with Brunei Gas Carriers to provide its Amadi vessel with a comprehensive range of digital maritime services designed for LNG carriers (LNGC). Encompassing the full spectrum of Ascenz Marorka’s Smart Shipping1 solution, this contract includes on-board data collection, regulatory reporting, performance management services, LNG cargo and operation optimisation and weather routing. Ascenz Marorka’s digital solution, which will be installed on the vessel by the end of this year, provides multiple advantages, in terms of cost savings, operational efficiency and ...

Organized labor is having a moment. Unions representing port workers, parcel deliverers, auto workers, writers, actors, teachers and others are securing or seeking to secure hefty salary increases by striking or threatening to strike. Container shipping flows to the U.S. have been affected by labor negotiations this year — and could be even more affected by union action in 2024. In June, the International Longshore and Warehouse Union (ILWU), which represents over 40,000 West Coast dockworkers, secured a new contract with a 32% pay raise over six years and a ...

Los Export freight rates from the Port of València have stabilised and in the last month recorded a decrease of -0.26%, -the most moderate fall since February 2022-. This is reflected in the València Containerised Freight Index (VCFI) – which measures the trend and evolution of the freight rates of the Valencian precinct – and which in the month of October stands at 1,183.66 points – remaining at similar levels to those recorded in the first quarter of 2020. The VCFI accumulates a growth since the beginning of the historical ...

China’s imports of soybeans, crude oil, copper and iron ore rose in October from a year earlier, data from the General Administration of Customs showed on Tuesday. China’s imports unexpectedly grew in October while exports contracted at a quicker pace, in a mixed set of indicators that showed the recovery in the world’s second-largest economy remains uneven. KEY POINTS: * Soybeans: October imports at 5.16 mmt, down 27.8% m/m but up 25% y/y * Crude oil: October imports at 48.97 mmt, up 7.1% m/m and 13.5% y/y * Iron ore: ...

While Europe has slashed its imports of piped Russian natural gas, it has bought some 13 million metric tons of liquefied natural gas (LNG) so far in 2023, little changed from a year ago, LSEG data showed on Tuesday. Belgium, Spain and France have been the top buyers, the data showed, as Russia’s sales to Europe were little changed from 13.3 million tons a year earlier. LNG is not subject to European sanctions imposed on Russian over the conflict in Ukraine and Europe has no short-term plan to include it. ...

With the number of flour mills in Turkey falling nearly 60% in 15 years, S&P Global Commodity Insights has spoken to Eren Gunhan Ulusoy, Chairman of market-leading Ulusoy Flour Mills, who said the country’s environment, in terms of managing price volatility, has changed due to the COVID pandemic and then the Russia-Ukraine war. “Tiny margins and the environment are not easy,” Eren Gunhan Ulusoy said in an interview. Turkey’s competitive market conditions, together with interest rate and currency issues — there are about 28 lira per dollar, up from 3-4 ...

U.S. wheat shipments typically weaken at this time of year as soybean exports take the stage, but last week’s decline was unprecedented, reflecting the United States’ shrinking share of world wheat trade. Only 71,608 metric tons of U.S. wheat were inspected for export in the week ended Nov. 2, the lowest for any week since records began in January 1983. That surpasses the previous low of 85,672 tons set in late December 2022. The latest week’s export inspections, which are a proxy for exports, are preliminary and could be revised ...

China’s commerce ministry on Tuesday said it will require traders of crude oil, iron ore, copper concentrate and potash, which are subject to import licences, to submit real-time information on shipments as part of efforts to stabilize trade. It will also require exporters of rare earths to submit information under the new rules effective from Oct. 31 this year for two years. The goal is to “promptly and accurately grasp and scientifically judge the import and export status and trends of bulk products, guide foreign trade operators to import and ...

The U.S. Department of Agriculture (USDA) on Monday rated 50% of the U.S. winter wheat crop in good-to-excellent condition, up three percentage points from the previous week and the highest for this time of year since 2019 as soil moisture improved in the Plains following a three-year drought. Better production prospects in the world’s No. 4 wheat exporter could ease concerns about tightening global grain supplies. However, winter wheat will not be harvested in the United States until mid-2024, and the crop’s potential will be highly dependent on springtime weather. ...

Chicago soybean futures gained more ground on Wednesday, with prices trading close to their highest levels in two months, as adverse weather conditions in top exporter Brazil and strong Chinese demand underpinned the market. Wheat edged higher, recouping some of previous session’s losses, although prices remained under pressure from improved U.S. crop conditions. FUNDAMENTALS * The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.5% at $13.68-3/4 a bushel, as of 0119 GMT, not far from previous session’s highest since Sept. 6 at $13.80 a bushel. ...