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Reality

In a few short months, the mayhem wrought by coronavirus has changed the world. Our response to the epidemic [more than the virus itself] has the potential to permanently alter the balance of the global economy. But it might be the kind of Black Swan event that we need to trigger real change in the shipping industry – and in particular its approach to digitalization of vessel operation. Like the worldview bubbles created by social media algorithms and fake news, the maritime industry is living in its own digitalization fantasyland ...

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Managing a crisis: Covid-19 and the threat to Critical National Infrastructure

In the midst of uncertainty and significant risk to people’s health, it is clear that the need for robust and accurate screening and testing of Covid-19 is needed now more than ever. The social and health implications of Covid-19 have already been well documented. However, what still remains largely unclear, is how badly our Critical National Infrastructure and supply chain is going to suffer and what measures can be put in place to preserve it, especially offshore. It is imperative that workers involved in the energy industry are supported in ...

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Coronavirus Rattles Shipping Industry as Supply Shock Moves to Demand Decline

Container ship operators that canceled more than half their sailings to China, as coronavirus-driven restrictions froze work at its ports last month, are bracing for a second wave of disruption. Now that China has resumed exporting, shipping companies expect thousands of shipments to be stranded at seaports as the pandemic engulfs the U.S. and Europe. “In China we had a supply shock, a production shortage from closed factories and reduced truck numbers,” Jeremy Nixon, chief executive of Japan’s Ocean Network Express, the world’s sixth biggest container carrier by capacity, said ...

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India: Weak demand to hurt bunker industry; LSFO prices fall 15%

India’s bunker prices have declined sharply by as much as 15% due to a slump in demand as the country grapples with the deadly coronavirus pandemic by imposing a nationwide lockdown including ports. Bunker suppliers in India have seen marine fuel enquiries drop sharply in recent weeks, and the trend is likely to continue, with some pointing to a minimum 10%-15% year on year fall for 2020 in bunker fuel demand as trade slows during this lockdown. Mumbai Marine Fuel 0.5% bunker fuel price was assessed at $322.50/mt Thursday, down ...

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Paris MOU guidance regarding the impact of COVID-19

The Paris Memorandum of Understanding on Port State Control (Paris MoU) acknowledges the crisis which the international shipping industry is facing. The Paris MoU is working to help Member Authorities protect the health and safety of our Port State Control Officers and also the seafarers on the ships. The Paris MoU acknowledges further that at this time it is essential to keep supply chains open and also that it is proving very difficult for shipowners to arrange vessel surveys. It is also very difficult for seafarers to attend the required ...

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Steel shutters down… but not for China

In February, world steel production was maintained at a healthy 143.3m tonnes – an increase of 2.8% year-on-year. But with the world’s top steelmakers shuttering mills in response to Covid-19, the next batch of production figures could look decidedly less robust. Data from the World Steel Association released this week painted a rosy picture of global steel supply. China’s crude steel production for February 2020 was 74.8m tonnes, an increase of 5.0% compared with February 2019; India produced 9.6m tonnes of crude steel in February 2020, up 1.5% on February ...

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Stena Bulk performs a test running an MR tanker on 100% biofuel

During the coming weeks Stena Bulk will perform a test running an MR tanker on 100% biofuel. The fuel is the MR1-100 bio-fuel oil, produced from used cooking oil and supplied by GoodFuels in Rotterdam, the Netherlands. It has been bunkered onto the Stena Immortal and will be used to power the main engine in normal operations to test and prove the technical and operational feasibility. “By doing this test we want to contribute to push the industry and pave way towards more sustainable shipping”, says Erik Hånell, President and ...

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Clarkson Postpones Dividend, Expects Negative Impact on Shipping Markets For the First Half of 2020

Clarkson PLC the world’s leading provider of integrated shipping services, today announces that in light of the current increased uncertainty caused by the COVID-19 outbreak, the Board has decided to withdraw the resolution regarding the final dividend from the Annual General Meeting (“AGM”) and defer the decision on the amount and timing of the dividend until later in the year once the impact of COVID-19 on maritime markets and Clarksons’ business becomes clearer. The Board deems this decision as conservative and prudent, enabling Clarksons to conserve current cash reserves, address ...

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Gazpromneft Ocean marine oils are available in South Korea

Gazpromneft Ocean engine oils are available in 16 ports of South Korea, including Busan, Ulsan, Incheon, Pohang and Pyeongtek. Packaged or bulk products can be delivered on board in 3 or 4 days’ notice depending on port category. The production is arranged on a partner facility that has passed a technical audit for compliance with international standards. The quality is controlled at all stages from the raw materials delivery till the lubricants transportation to vessel. High quality base oils allow Gazpromneft Ocean lubricants to maintain optimal viscosity under high mechanical ...

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Feature: US Gulf Coast naphtha heads to Asia amid fallen freight; glut of ULSD left onshore

Sunken freight rates for clean tankers due to a global demand decline amid the coronavirus pandemic has left thearbitrage from the US Gulf Coast to Asia wide open for naphtha,but the route to Europe for ultra low sulfur diesel remains shut despite a drop in USGC demand. Freight for clean tankers loading on the US Gulf Coast has dropped dramatically since mid-March as global demand for petroleum products has dropped, thus opening an arbitrage opportunity for naphtha from the USGC to travel to Asia. However, this opportunity has not opened ...

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MOL invites NAPA to add data analysis expertise to FOCUS project

NAPA, the leading maritime software, services, and data analysis provider, and Mitsui O.S.K. Lines (MOL), the multimodal transport group, today announced that NAPA has joined MOL’s FOCUS project for enhancing the collection and application of ship operation data. FOCUS is a multi-year project developed by MOL with the aim of applying its operational data to develop digital applications that enhance the safe operation of its fleet and reduce its environmental impact. Additional partners include Mitsui E & S Shipbuilding and Weathernews. As part of FOCUS, NAPA will develop various safety ...

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Nordic American Tankers Ltd. (NYSE: NAT) – Jim Kelly Vice Chairman of Nordic American Tankers

We would like to advice you that Jim Kelly has been appointed Vice Chairman of Nordic American Tankers (NAT), following the sad passing of Mr. Andreas Ove Ugland who had this positon in the past. Jim Kelly (American citizen) has been a director of NAT since June 2010. Mr. Kelly has worked for Time Inc., the world’s largest magazine publisher, since 1978. He served as Foreign Editor during the fall of the Soviet Union and the first Gulf War. He was named Deputy Managing Editor in 1996. In 2001, Mr. ...

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‘How to generate more employment in maritime sector’

The Federal Government has been urged to utilize the legal implementable priorities for the development of indigenes operation and generation of employment in the maritime industry. President, National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Lucky Amiwero, in a letter to the presidency, said Nigeria as it now has overall coordinated maritime legal instruments for massive employment generation and wealth creation based on three legal instruments. He named the instruments to include: Coastal and inland shipping (Cabotage) Act 5 of 2003; Nigeria Maritime Administrative and Safety Agency Act ...

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Innovation is crucial for forwarders managing supply chains hit by Covid-19 challenges

Faced with global cargo capacity crunches in both air and ocean freight as a result of Covid-19, the U-Freight Group says its operations around the world are working ‘as normally as possible’ given the circumstances, as it seeks innovative solutions to overcome the challenges of managing supply chains hit by the virus. The Hong Kong-based freight forwarder and logistics group, with subsidiaries and a long-standing network of partners across Asia, North America and Europe says that whilst capacity reductions are a reality, freighter and passenger airline capacity is adjusting to ...

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Message from Tim Lowe CBE, CEO, UK Hydrographic Office on COVID-19

On behalf of the UK Hydrographic Office (UKHO), I would like to reassure users of our products and services that maintaining safety of life at sea during this time remains one of our highest priorities. We are working hard to ensure that there is minimal disruption to the production and delivery of our products and services during the ongoing COVID-19 pandemic. Through our dedicated UKHO COVID-19 working group, we are continuing to monitor the situation and are implementing the latest advice from the UK Government to help safeguard UKHO staff. ...

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