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HOT PORT NEWS from GAC

Sea Cargo Manifest and Transhipment Regulations: New implementation date Monday, February 17, 2020, Cochin, India

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Cyprus ferry connection to Piraeus possible by this summer

There will be a ferry connection between Piraeus port and Limassol with the possibility of a stopover at a Greek island, following an initial agreement between Cyprus Shipping Deputy Minister Natasa Pilides and Greek shipping officials. And efforts are underway so that the ferry link is launched and available by this summer, Phileleftheros reports citing insiders. Pilides and Greece’s Shipping Minister, Ioannis Plakiotakis, discussed in detail the action-plan for the ferry trip during a meeting in Athens last week. Plakiotakis reportedly told Pilides that the further development of maritime links ...

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Anchor Shipbroking Weekly Market Report – Week 07 2020

Anchor Shipbroking Weekly Market Report – Week 07 2020

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Cheapest Bunker Port Matrix: Tankers & Dry Bulk – 17 February 2020

Matrix for the cheapest bunker ports for the most common voyages.

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Baltic Dry Index climbs to 434, up 9 points

Today, Monday, February 17 2020, the Baltic Dry Index climbed by 9 points, reaching 434 points.

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SSY ATLANTIC CAPESIZE INDEX 17 February 2020

A further week of declines for spot voyage rates across the basin saw the SSY Atlantic Capesize Index fall by 362 points week-on-week to 5,173 points. The round-voyage rate (180k dwt) dropped by $1,500/day

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SSY PACIFIC CAPESIZE INDEX 17 February 2020

The SSY Pacific Capesize Index fell by 148 points week-on-week to the lowest level since April 2019 at 3,298 points. The W.Australia-China iron ore spot rate declined by $0.15/t to $5.60/t, however, there was

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COVID-19 fears restrict movement of cargo ship crews

Crew members on cargo ships have been one of the worst affected as port authorities scramble to isolate vessels in a bid to stop the COVID-19 virus from reaching their shores. China fares high on international trade and any interruption in that part of the world has severe consequences for global commerce. According to the latest statistics from Clarkson Research Services, China accounts for 35 percent of seaborne dry bulk imports, 30 percent of container exports, 23 percent of crude imports and 18 percent of gas imports. Shipping companies are ...

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Ship Owners Burned By The China Slowdown

Traffic jams are a nuisance for road users but off the west and east coasts of Australia there are marine traffic jams as bulk carriers which normally carry iron ore and coal to China are riding at anchor because even if they take on a load there’s no guarantee they will be able to unload. China’s fight against COVID-19, the coronavirus, has slowed all forms of commerce in the country with knock-on effects being increasingly felt elsewhere, both in countries which sell material to China, and countries which rely on ...

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MABUX: Bunker market this morning, Feb.17

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs demonstrated downward changes on Feb. 14: 380 HSFO – USD/MT – 361.99 (-0.78) VLSFO – USD/MT – 541.00 (-2.00) MGO – USD/MT – 597.29 (-1.35) Meantime, world oil indexes increased on Feb. 14 on hopes, that the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent for April settlement increased by $0.98 to $57.32 a barrel ...

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Another coronavirus fallout: India’s shipping business

‘The coronavirus impact is much bigger than what the market had predicted. We are helpless and simply watching the market at present. Nothing can be done,’ Anil Devli, chief executive officer (CEO) of Indian National Shipowners’ Association (INSA), said. Tanking freight rates on the back of the coronavirus epidemic in China are likely to hurt the earnings of Indian shipping companies in the March quarter. “Freight rates have tumbled significantly and are impacting SCI (Shipping Corporation of India) across segments. We have seen the damage in January already. Our Q4 ...

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Benefits Of IMO 2020 And Impacts On Shipping Industry

The latest revision to International Maritime Organization (IMO) regulations, known as IMO 2020, calls for cutting emissions of sulfur oxide (SOx) from ocean vessels to less than 0.50% by mass. This bold initiative, which went into effect on January 1, will help reduce the environmental impact of the international shipping industry. These IMO 2020 regulations require the lowest globally applied requirements of sulfur oxide emissions to date. Outside of designated emission control areas (ECAS), this is an 85% reduction from the existing limit of 3.50%. Four established emission control areas ...

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GMS Week 07 – CAUGHT COLD!

After a rather positive start to the year (particularly for the rampant Indian market), subcontinent fundamentals have been reflecting weakened

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158 new vessels to be added to Iran’s shipping fleet

Some 158 new vessels are going to be added to Iran’s shipping fleet, IRIB reported on Sunday, quoting the head of the Industry Ministry’s Supreme Maritime Council. “We have the construction of 158 vessels on the agenda; about 62-70 percent of which will be built inside the country, “Siamak Seyed Marandi said. According to Marandi, the development of the maritime industry has been considered as one of the main priorities of the industry ministry and the necessary planning has been carried out in this regard. Focusing on the development of ...

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Breakdown of weekly ship sales by type 10th – 16th February 2020

In the following table you will find the total ship sales for last week.

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