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COVID-19 has wreaked havoc on supply chains around the world, and shows little sign of abating after a surge in new infections across Asia has enforced a partial shutdown of one of the world’s busiest container ports – Ningbo-Zhoushan. China’s Yantian port was also forced to close for over a month across May and June due to virus outbreaks. Importers and exporters have already suffered during the pandemic, as raw material price rises and the much-publicized semiconductor shortage hamper recovery efforts and bring sizeable additional costs to bear and manufacturing ...

Singapore’s August non-oil domestic exports (NODX) expanded 2.7%from a year earlier, official data showed on Friday, the slowest pace since November due to a drop in non-electronics shipments. The year-on-year export growth was below economists’ expectations in a Reuters poll for a 8.3% rise and compared with 12.7% growth in July. On a seasonally adjusted month-on-month basis, exports fell 3.6% in August, Enterprise Singapore data showed, versus the prior month’s 0.9% contraction. Economists had forecast 2.4% growth. Source: Reuters (Reporting by Chen Lin in Singapore; Editing by Jacqueline Wong)

The number of container ships at anchor or drifting in San Pedro Bay off the ports of Los Angeles and Long Beach has now blown through all previous records and is rising by the day. There were an all-time-high 65 container ships in the queue in San Pedro Bay on Thursday, according to the Marine Exchange of Southern California. Of those, a record 23 were forced to drift because anchorages were full. Theoretically, the numbers — already surreally high — could go a lot higher than this. While designated anchorages ...

Vitol’s Singaporean bunker operations company, V-Bunkers, has placed an order to build two electric-hybrid bunker tankers. V-Bunkers intends to deploy these bunker tankers for harbour operations in Singapore, thereby significantly reducing carbon emissions within the port. The bunker tankers are being built with Electric-Hybrid notation and will employ state of the art Energy Storage Systems (ESS) technology comprising Lithium ion batteries for energy storage and a highly automated Power Management System (PMS) which will efficiently manage power consumption and thereby reduce GHG emissions. In addition, the ESS has the capability ...

Sentiment among U.S. consumers remained broadly unchanged in early September, staying at subdued levels after August’s big drop triggered by the increase in Covid-19 cases due to the spread of the Delta variant. The preliminary estimate of the index of consumer sentiment released Friday by the University of Michigan was 71.0 in September, slightly up from 70.3 in August and below the 72.0 consensus forecast from economists polled by The Wall Street Journal. “The steep August falloff in consumer sentiment ended in early September, but the small gain still meant ...

1/CENTRALLY FOCUSED Several central banking big-hitters meet in coming days, with the U.S. Federal Reserve’s Sept. 21-22 meeting topping the must-watch list. The timing of the Fed’s U.S. tapering plans remains the key question and recent data suggests caution may be warranted: the U.S. economy created the fewest jobs in seven months in August and consumer prices increased at their slowest pace in six months. Several officials say the Fed’s tapering of its pandemic stimulus will start this year, a view Fed chief Jerome Powell may echo, while stressing an ...

The Maritime Safety Administration of the People’s Republic of China (PRC) notice of 27 August 2021 contains information on the type of ships covered by this requirement, the information that must be reported and how the reporting shall be made. Oasis P&I Services’ circular contains an English translation of the requirements. The China Navy Hydrographic Office (CNHO) is China’s official hydrographic surveying and mapping organization and publishes the nautical publications authorized by the government. Currently no Notices to Mariners released by CNHO or its counterparts in the United Kingdom, the ...

Damen is proud and honored to be one of the seven recipients of the inaugural IDC Future of Digital Innovation Awards. Damen won in the category ‘Performance as a Service’ with its Triton program and received the award. US based International Data Corporation (IDC) initiated these awards to highlight successful digital innovation projects and initiatives. Other winners include Mattel (Fisher-Price Smart Connect), the U.S. Air Force (Virtual Mission Trainer), Shell (Open AI Energy Initiative) and the Istanbul Metropolitan Municipality (Pay-it-Forward). Damen Shipyards Group received the award for its Triton program. ...

Nicholas has caused less lasting damage than Ida, which halved US Gulf Coast fuel oil production last week. Tropical storm Nicholas hit Houston and other Texan ports without wreaking too much havoc this week. Port authorities and energy suppliers had shut down infrastructure across the Texan coast as they braced for the incoming storm, but the impact was far less severe than when the considerably more powerful Hurricane Ida lashed Louisiana and ports along the Lower Mississippi River two weeks earlier. Houston Ship Channel reopened on 17 September, under two ...

After a brief spike at the end of last week, the Atlantic basin has been very quiet as we are starting to see October VLCC stems

With the addition of the Inductees for 2020, the Hall of Fame’s pantheon of great personalities from the history of Greek merchant shipping now includes 34 legendary names. Athens – 16 September 2021: Shipping legends Stathis G. Gourdomichalis and George A. Pappadakis have been inducted into the Greek Shipping Hall of Fame after an Induction Ceremony & Dinner that took place in Athens on 13 September 2021. They bring the Hall of Fame’s pantheon of great personalities from the history of Greek merchant shipping since the steam age to 34. ...

The New ConTex increased by another 55 points this week. Month-on-Month figures are not up by as many percentage points as before

The management board of Russian gas giant Gazprom GAZP.MM has increased the company’s investments for 2021 to 1.185 trillion roubles ($16.36 billion), up by 282.8 billion roubles from the programme approved in December 2020, it said on Thursday. The company said investments are set to rise for gas transportation and production projects. Source: Reuters (Reporting by Vladimir Soldatkin and Gabrielle Tétrault-Farber Editing by David Goodma)

South Korea’s largest animal feed maker Nonghyup Feed Inc (NOFI) purchased an estimated 201,000 tonnes of animal feed corn and 65,000 tonnes of feed wheat in an international tender that closed on Thursday, European traders said. The corn was purchased in three consignments at premiums over Chicago futures, they said. One corn consignment of 68,000 tonnes was bought at a premium of 304 U.S. cents per bushel c&f over the Chicago December 2021 corn contract CZ1 for arrival in South Korea around Dec. 10. A second corn consignment of 68,000 ...

Ukraine has exported 11.75 million tonnes of grain so far in the 2021/22 July-June season, up from 10.48 million tonnes at the same stage of the previous season, economy ministry data showed on Friday. The exports included 6.9 million tonnes of wheat, 3.2 million tonnes of barley and 1.5 million tonnes of corn, the data showed. Ukraine plans to thresh a record 80.6 million tonnes of grain in 2021, up from 65 million tonnes in 2020. Exports could jump to 60.7 million tonnes in 2021/22 from 44.7 million tonnes in ...