Home / Author Archives: hellenicshippingnews. (page 7)

Author Archives: hellenicshippingnews.

China’s new home prices inch up for 9th month in May, survey shows

New home prices in China rose slightly for a ninth month in May, a private survey showed, driven higher by a slew of supportive steps to prop up the nation’s crisis-hit property sector. The average new home price across 100 cities rose 0.25% on month in May, following a 0.27% gain in April, the data from real estate researcher China Index Academy showed on Saturday. China’s property sector, a pillar of the economy, has lurched from one crisis to another since 2021 after a regulatory crackdown on high leverage among ...

Read More »

The Cost of Carbon Compliance Leads the Discussion at the ABS Hellenic National Committee

ABS, the leading Class in Greece, shared the latest insights on critical issues like FuelEU, the impact of geopolitical challenges on global trade and the carbon value chain, with Greek shipowners, ship managers and charterers, at the annual ABS Hellenic National Committee Meeting. The session yielded open conversations, directly addressing the real challenges and viable solutions to meet 2050 decarbonization targets. “We need different ways to approach decarbonization, not just through the lens of a CII rating. In the case of FuelEU, there are market-based measures based on well-to-wake emissions, ...

Read More »

Drewry Multipurpose Time Charter Index Rises Further in May

The Drewry Multipurpose Time Charter Index tracks one-year period charter rates across a basket of vessel types and sizes and forecasts the market movement over the coming month. The vessel types include breakbulk and project cargo ships. The Drewry Multipurpose Time Charter Index is above our forecasted value for May of $9,054 pd, and it is now at $9,094 pd. Larger MPVs continued to increase over May while the smaller vessels remained stable but did not decrease. Drewry’s latest assessment (including June forecast) We expect the index to continue this ...

Read More »

Singapore fuel oil stockpiles rebound after recent sharp draw

Onshore fuel oil stockpiles at key storage hub Singapore rebounded this week after slumping to a 5-1/2-year low last week, data showed. The inventories climbed 7.7% to 16.99 million barrels (2.68 million metric tons) in the week ended May 29, reaching a two-week high, Enterprise Singapore data showed. Stockpile levels have drawn lower in recent weeks as incoming supplies to Asia fell, with the Middle East exporting less cargo during its summer months on peak domestic demand. Fuel oil inventories averaged 18.09 million barrels a week in May, extending a ...

Read More »

Yemen’s Houthis vow to escalate military operations in support of Palestinians in Gaza

Yemen’s Houthis will continue their military operations and escalate them in quality and quantity in support of Palestinians in Israel’s war in Gaza, the Iran-backed group’s leader Abdulmalik al-Houthi said in a televised speech on Thursday. The group have been attacking ships in the Red Sea region since November, forcing shippers to re-route cargo to longer and more expensive journeys around southern Africa. The group later expanded the scope of its attacks to the Indian Ocean and said it would also target any ships heading towards Israeli ports in the ...

Read More »

Easier EEDI process: DNV validates Norsepower’s new EEDI/EEXI calculation method

Norsepower, the global market leader in mechanical sails, has presented a revolutionary calculation method, validated by the leading classification society DNV. The Norsepower E-Cal Method accurately calculates the effective power of Norsepower Rotor Sail™ (NPRS™). This helps ensure the vessel’s compliance with the latest IMO regulations, reducing the business risk for the shipyards, shipping companies, and ship owners. The result of NPRS™ propulsion power for the EEDI and EEXI calculations can be defined by the validated calculation method without ship-specific full-scale tests. The new regulations introduced by the IMO in ...

Read More »

Oceanly Performance introduces TCP & Benchmarking Monitoring and Itinerary planning features in its latest solution to enhance Fleet Performance and Efficiency

Oceanly Performance, a frontrunner in the integration of decarbonization and digitalization for the maritime industry, has announced the release of its latest version, 18. This update introduces innovative features, including advanced Time Charter Party (TCP) management and an intuitive Itinerary Planner, designed to optimize fleet performance and operational efficiency. Oceanly Performance’s commitment to energy efficiency is reflected in its ability to detect inefficiencies, compare vessels, and establish best practices to reduce emissions. The new version further enhances these capabilities, providing the data needed to improve CII ratings and identify the ...

Read More »

Bidding Announcement of 4241DWT Oil Tanker “ GUANG HUI 316”

Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online (www.shipbid.net) from 14:00 to 14:30 (Beijing time) on June 13th, 2024. 1. Bidding Object: MV GUANG HUI 316", Oil Tanker (flash point ≤ 60°C); Double Hull; PoR: Shanghai, China; Inspection Authority: CCS; Trading Area: A1+A2+A3; LOA: 90.00m; MLB: 15.20m; MLD: 7.20m; DWT: 4241.67t; GRT: 2882; NRT: 1215; M/E: Wartsila 6L20, 1080kW@1000r/min*2; Built : January 22, 2014; Builder: Rizhao Kingda Shipbuilding Heavy industry Co.,Ltd China (Data and relevant information provided in this announcement are for reference ...

Read More »

Prevention is always better than cure: ITIC advocates for enhanced pre-management surveys to safeguard against costly financial losses

The importance of in-depth and precise pre-management vessel inspections as part of a ship manager’s business risk strategy prior to taking on a vessel has been highlighted by International Transport Intermediaries Club (ITIC) in their latest Claims Review. The professional indemnity (PI) insurer has noted that it has taken on numerous claims in recent months related to vessel condition and alleged poor vessel management, which has resulted in ship managers facing major repair costs that could have been avoided had a comprehensive inspection been undertaken prior to, or as close ...

Read More »

Ship traffic to resume in Turkey’s Bosphorus Strait after brief suspension

Ship traffic in Turkey’s Bosphorus Strait is set to resume for southbound vessels as of 0700 GMT on Friday, after a suspension due to an engine failure on one vessel, the Tribeca shipping agency said. The Liberia-flagged cargo ship Cornelia had resumed sailing after a brief engine failure, according to a report shared by the agency. Source: Reuters (Reporting by Ezgi Erkoyun; editing by Jacqueline Wong)

Read More »

First shore power for seagoing vessels arrives at Antwerp Euroterminal

Antwerp Euroterminal (AET) installs the first shore power connection for seagoing vessels in Belgium. Shore power provides docked vessels in the port with electricity in an environmentally friendly and quiet way and therefore plays an important role in the greening of ports. The installation will be operational in 2026 and will be the first one in Belgium for seagoing vessels, built according to international ISO standards. Scoop for Belgium Shore power allows moored ships to connect to the local electricity grid via a ‘socket’ on the quay. It reduces emissions ...

Read More »

IAPH commissions study investigating energy-related port investments in developing countries

The International Association of Ports & Harbors (IAPH) announces the commissioning of a study to investigate energy-related port investments in developing countries. Managing Director Patrick Verhoeven commented: “After the summer ahead of the next Marine Environment Protection Committee (MEPC 82) at the IMO, we expect exploratory discussions to take place at the Intersessional Working Group on Greenhouse Gas Emissions on the topic of a market-based measure. As a contribution to this process, IAPH has commissioned a study that will look at identifying potential energy-related investments that will be required in ...

Read More »

Dry bulk ship Laax hit by five missiles fired from Yemen, ship’s security company says

The Marshall Islands-flagged dry bulk ship Laax was hit by five missiles fired from Yemen but the vessel is still able to sail to its destination and the crew are safe, the ship’s security company, LSS-SAPU, told Reuters on Wednesday. The vessel, which was carrying a cargo of grains, was attacked on Tuesday off the Yemeni port city of Hodeidah. Yemen’s Iran-backed Houthis said on Wednesday they had targeted six ships including the Laax. “The vessel has sustained damage, she is not taking water, she is not tilting and there ...

Read More »

Sailors’ Society offers key wellbeing skills to the maritime class of 2024

Maritime cadets from across the world are invited to join the Sailors‘ Society Cadet Conferences 2024: Wellbeing skills for future seafarers. They will once again be offered a full virtual conference experience exploring the all-important subject of wellness and mental health. Following glowing feedback from cadets, there will also be the usual interactive sessions and practical advice as well as presentations from key regional and global industry leaders and influencers. More than 6,000 students are expected to attend from maritime schools and colleges in North Asia, South East Asia, Africa ...

Read More »

Pacific Nations Drive High Ambition Climate Action at IMO

Hot on the heels of the groundbreaking ITLOS advisory last week, Mr. John Kautoke, legal research fellow with the Micronesian Center for Sustainable Transport (MCST), delivers a thought-provoking paper on the Pacific’s high ambition options at the International Maritime Organization (IMO). Co-authored with his colleagues at MCST, John Taukave, Morgan Wairui, Maria Sahib, Atina Schutz, Peter Nuttall, Alison Newell, Pierre-Jean Bordahandy, the paper entitled “Holomui ki mu’a: Pacific Catalytic Action at IMO Proves the Power of Small,” delves into the influential role Large Ocean States are playing in the crucial ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping