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MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated upward changes on Sep. 06 380 HSFO – USD/MT 377.14 (+13.74) 180 HSFO – USD/MT 421.278 (+13.77) MGO – USD/MT 652.68 (+2.39) Meantime, world oil indexes demonstrated irregular changes on Sept. 06 on the news, that OPEC producers raising their overall output in August, despite signs of faltering global demand. Brent for November settlement increased by $0.59 to $61.54 a barrel on the London-based ICE Futures ...

Cyprus is considering updating its tonnage tax system and its pricing policy for the registration of ships as part of targeted measures to enhance the competitiveness of the Cyprus shipping industry, President Nicos Anastasiades said. Addressing a ceremony for the 25th anniversary of Fleet Management Ltd, Anastasiades said enhancing the strategic advantages of the Cyprus maritime cluster remained a high priority for the government. “We are all aware that our shipping industry operates in a highly competitive global environment, thus requiring stability and long-term innovative planning in order to further ...

India Market: Foreign originated ferrous scrap has witnessed a major drop from it’s previous week, sources directly link this to poor demand from mills and traders.

Corvus Energy celebrated the grand opening of its automated battery factory in Bergen, Norway. Yesterday, approximately 450 guests from around the globe attended the opening ceremony, representing ship owners and shipbuilders, marine technology and equipment suppliers, maritime infrastructure, government agencies and innovation centers dedicated to the electrification of the maritime industry. Emission controls inspire electric revolution “There is an electric revolution going on in the maritime sector, and we want to deliver the best solutions in the industry,” says Geir Bjørkeli, CEO of Corvus Energy. “The Corvus team in Vancouver ...

Wilhelmsen Ship Management (WSM) has gathered major industry players together to share opinions, best practices and ongoing initiatives towards a common goal in preventing and significantly reducing marine pollution of all kinds, in particular from land-based activities (UNSDG 14 : Life below water). In this first-of-its-kind roundtable discussion, the panels focused on plastic packaging delivered onboard ships including means of disposal and recycling plastic waste. The panel discussed in depth the need to create alliances in the industry to share best practices, standardization of metrics for measuring plastics, establishment of ...

As part of its Responsible Ship Recycling Program (RSRP), GMS supplies workers at ship recycling yards in India and Bangladesh with the knowledge to safely undertake their daily operations through topical, expert-led training sessions. In Alang, the GMS team conducted two trainings this month. The first on confined space safe for entry and use of self-contained breathing apparatus (SCBA) at Plot 63 (24J) explained the proper procedures for entering confined spaces and using safety equipment, such as multi-gas detectors, blowers and SCBA sets. Participants also learned how to use emergency ...

ARIES oil field services, is now the Middle East’s 1st establishment to be approved and certified as Recognized Specialists for carrying out Inventory of Hazardous Materials Surveys by ABS (American Bureau of Shipping). IHM Surveys are carried out as per new Regulations aimed at reducing Environment Pollution and improving Health and Safety of people in the Marine & Offshore Industries (Specifically, MEPC Resolution 269 (68), EU Regulations and Hong Kong Convention requirements.) Aries has been, time and again, investing heavily on developing its Greenships Solutions division, which actively assists Clients ...

The CEOs of Korea’s three major shipbuilders will attend Gastech 2019 to be held in Houston Sept. 17-19 to land orders for LNG carriers. The CEOs of Korea’s three major shipbuilders — Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries –- are rolling up their sleeves to land orders for LNG carriers. They will attend Gastech 2019, which will run in Houston, the United States, from Sept. 17-19, to receive this year’s final LNG carrier orders. The event is the world’s three largest gas exposition ...

Inspections of ocean shipping containers conducted by the U.S.-based National Cargo Bureau discovered a shocking number of containers with misdeclared and improperly packaged cargo. In the wake of incidents such as the 2018 fire onboard the Maersk Honam, which resulted in the deaths of five crew members, NCB — which normally inspects export containers leaving the U.S. — offered to do free inspections of a sample of containers, including imports, for members of the Cargo Incident Notification System (CINS). CINS describes itself as “a shipping line initiative, launched in September ...

Rise in protectionism is impacting global trade flows, the new administrator of the Panama Canal, former economy and finance minister Ricaurte Vasquez said. Speaking at a ceremony marking the start of his seven-year tenure at the head of the Panama Canal Authority (ACP), Vasquez said protectionist tendencies presented new challenges for the waterway. “We are facing a different world … Instead of globalization, today there is a resurgence in protectionism and trade flows are moving through different routes,” said Vasquez. “Wars over markets are the norm and this new global ...

Oil major BP plans to sell more U.S. crude to Asia as its shale oil production grows, seeking to capitalise on growth in the world’s key demand region. The strategy, outlined in a Reuters interview with company executives, follows BP’s move to acquire giant miner BHP’s assets in the United States’ prolific Permian shale basin last year, expected to give its portfolio a boost in light-sweet crude production. “This (Asia) is a key growth region” for energy demand, said Sharon Weintraub, BP’s chief executive officer of supply and trading for ...

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

Brazilian iron ore products have enjoyed greater popularity among most Chinese steelmakers over the past several weeks, due to their better price performance compared with mainstream Australian iron ore fines, market sources said. By August 20, the price spread between 61.5% PB Fines and 63% Brazilian Blend Fines (BRBF) at Qingdao in East China’s Shandong province, had widened to Yuan 2/wmt ($0.3/wmt), the widest since January 2018, according to Mysteel’s database which selects two representative brands of the respective markets for price comparison. Source: Mysteel

China’s unwrought copper imports fell in August after a bounce in the previous month, customs data showed on Sunday, as a slowdown in the world’s top copper consumer raises concerns over demand for the metal, while aluminum exports also dipped. Arrivals of unwrought copper, including anode, refined and semi-finished copper products into China stood at 404,000 tonnes last month, the General Administration of Customs said. That was down 3.8% from 420,000 tonnes in July and also down 3.8% year-on-year. The decline came despite copper prices in China being mostly high ...

Foreign buyers of Australian coal have deferred shipments over the past two months, adding to evidence of fading demand for several export commodities. Peabody Energy said its financial performance had “materially” deteriorated since June 30 on the back of ”demand-driven deferrals” of coal shipments, slumping coal prices and a slower than expected return to production at Queensland’s Middlemount mine after safety incidents. Peabody told AFR Weekend on Friday that its Australian coking coal and thermal coal exports were among those affected by the “demand-driven deferrals”. The deferrals add to mounting ...