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International Shipping News

0.5%S marine fuel East-West spread hits all-time high on stronger Asian prices

The spread between Singapore marine fuel 0.5%S cargo and Rotterdam marine fuel 0.5%S barge assessments hit an all-time high of $108/mt on June 30, according to Platts assessments by S&P Global Commodity Insights, due to a stronger Asian market. The previous all-time high for the East-West spread was on May 31, when it reached $106/mt. S&P Global started assessing marine fuel 0.5%S East-West on April 4. Singapore marine fuel 0.5%S prices are typically higher than Rotterdam, allowing cargoes to move from the West to the East. The East-West spread is ...

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What’s new with SOLAS 2024?

A set of amendments to the International Convention for the Safety of Life at Sea (SOLAS) and the associated Codes enter into force on 1 January 2024. This statutory news highlights the changes that have been adopted for the 2024 update of SOLAS and its associated Codes. Relevant for ship owners and managers, design offices, shipyards, suppliers and flag states. The SOLAS Convention is regarded as the most important of all international treaties concerning the safety of merchant ships. Amendments to the technical provisions generally follow a four-year cycle of ...

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Ukraine requests Turkey detain Russian-flagged ship it says carrying Ukrainian grain

Ukraine has requested that Turkey detain and arrest the Russian-flagged cargo ship Zhibek Zholy carrying a cargo of Ukrainian grain taken from the Russian-occupied port of Berdyansk, according to a Ukrainian official and document seen by Reuters. The Ukrainian foreign ministry official, citing information received from the country’s maritime administration, said the 7,146 dwt Zhibek Zholy had loaded the first cargo of some 4,500 tonnes of grain from Berdyansk, which the official said belonged to Ukraine. In a letter dated June 30 to Turkey’s justice ministry, Ukraine’s prosecutor general’s office ...

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Maersk Tankers helps shipowners keep track of emissions

Shipowners are facing new regulations from 1 January 2023, requiring them to track and report vessel emissions. Together with shipowners in its pools, Maersk Tankers has launched a new digital solution to help owners meet the required standards. The International Maritime Organization’s Carbon Intensity Indicator (CII) aims to cut greenhouse gas emissions for vessels already on the water. The measure links the emissions to the amount of cargo a vessel carries over the distance travelled. The owners will receive an annual energy efficiency rating – A, B, C, D or ...

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“K” LINE has Enhanced the Shipboard Cyber Security with Surveillance of Ship’s Communication 24/7 in View of our DX Strategy

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) has introduced a new AI-based cyber security platform, “Cybereason”, which is provided by “Cybereason Japan Corp.” (Head office: Chuo-Ku, Tokyo), and adopted their monitoring/analysis service, “Cybereason MDR (Managed Detection & Response) service”, to enhance the cyber security of ship-shore communication in the ships managed by the “K” LINE Group ship management companies in anticipation of developing our ship DX strategy. Nowadays, it has become quite difficult to prevent highly sophisticated cyber-attacks by the ship’s conventional security solutions such as anti-virus software and firewalls, which ...

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WiseTech Global extends digital documentation offering with acquisition of Bolero.net Limited

WiseTech Global, developer of leading cloud-based logistics execution software CargoWise, today announced the acquisition of Bolero.net Limited (Bolero) and its subsidiaries, a leading provider of electronic Bills of Lading (eBL) and digital documentation capabilities to facilitate global trade. Headquartered in the United Kingdom and with over two decades of experience, Bolero offers fully digital solutions for carriers to digitize Bills of Lading, creating eBLs that can be transmitted, endorsed and presented electronically to port authorities, customs, financial institutions, logistics partners and other parties. This removes rekeying of paper-based and scanned ...

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J.B. Hunt to Expedite Overseas Delivery of New Containers and Customer Freight With Long-Term Service Agreement

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, announced today that the cargo vessel Johnelle has docked at the Port of Everett in Washington, with more than 250 new containers reserved for the expansion of J.B. Hunt’s intermodal fleet. The Johnnie Bryan, a second cargo vessel, is expected to dock at the Port of Hueneme in California next month with additional new containers. The two are part of a long-term, multi-vessel service agreement between J.B. Hunt and Swire Shipping Pte. ...

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Aspo’s subsidiary ESL Shipping has confirmed an additional order for one electric hybrid vessel

Aspo’s subsidiary ESL Shipping has confirmed an additional order for one electric hybrid vessel [email protected] Shipping, a subsidiary of Aspo Group’s ESL Shipping, has declared an option and order for the first additional vessel from the Indian shipyard Chowgule & Company Private Limited, from which the shipping company has previously ordered six identical electric hybrid vessels, as announced in September 2021. In connection with the forthcoming series of new-generation electric hybrid vessels and additional vessel options, ESL Shipping is preparing to start a long-term pooling partnership together with a group ...

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Baltic sea freight index logs second straight weekly fall

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a second straight week on Friday, dragged down by declines across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 26 points, or nearly 1.2 %, at 2,214 points. The index posted a weekly fall of about 5%. The capesize index lost 53 points, or 2.2%, at 2,381 points, down about 0.6% for the week. Average daily earnings for capesizes, which typically ...

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2 MOL-operated Vessels Earn 2021 ‘Best Quality Ship Awards’

Mitsui O.S.K. Lines, Ltd. announced that the Japan Federation of Pilots’ Association (JFPA) (Note 1) has presented its Best Quality Ship Award for fiscal year (FY) 2021 to two MOL-operated vessels—the LNG carrier LNG SATURN and the bulk carrier TAIYO. LNG carrier LNG SATURN LOA: 288.00m Breadth: 48.94m Gross tonnage: 136,739 tons Bulk ship TAIYO LOA: 234.88m Breadth: 38.00m Gross tonnage: 50,927 tons Mementos and letters recognizing the award-winning ships The award was founded in 2003 to raise awareness of port and ocean environmental protection through safe operation of vessels, ...

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BIMCO’s new IOCD Clause focuses on keeping the trade going and avoiding further supply chain issues

The revised BIMCO Infectious or Contagious Disease Clause for Time Charter Parties 2022 is now ready for use. The revision was prompted by the COVID-19 pandemic. However, the clause is not intended to be a “COVID-19 clause” – it is designed with future epidemics and pandemics in mind. The BIMCO IOCD Clause 2022 is appropriate for outbreaks of diseases on a pandemic scale like COVID-19, and outbreaks at a regional level, such as the Ebola virus epidemic in West Africa in 2014-2016. In undertaking this revision, BIMCO has focused on ...

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Iron ore stuck in downward spiral

An upturn in iron ore prices on the back of promises from Chinese President Xi Jinping to take more effective measures to achieve the country’s economic and social development goals has proven to be just a blip. When Xi made his comments on June 23, iron ore prices bounced off a seven-month low of $109 per tonne on June 22. But rather than marking the start of a sustained recovery, the tide soon turned and by June 27 prices had fallen for three straight weeks. Analyst Wood Mackenzie’s observation in ...

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Vale Advances A Pioneering Project To Adopt Low-Carbon Fuels In Shipping

Vale has achieved a major advance in the adoption of alternative, lower-carbon fuels for shipping. A pioneering project developed by the company resulting in a design to incorporate multi-fuel tanks on iron ore carriers has received an Approval in Principle (AIP) from the leading Classification Society DNV. The independent assessment performed by DNV verifies the technical feasibility of the design, and indicates that based on this system, developed in partnership with Norwegian companies Brevik Engineering AS and Passer Marine, vessels chartered by the mining company could be adapted to store ...

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Just 35% Of Shipping Companies Have A 2050 Net Zero Pledge Or Have Committed To IMO Targets Of 50% Absolute Emission Reduction

A new study examining the top shipping companies’ commitment to decarbonization shows that only 35% have a clearly expressed emissions target to be net zero by 2050. The assessment, conducted by the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, draws on published decarbonization ambitions and actions of the largest companies by owned capacity in tanker, bulk, container, and RORO/car segments. Together, these four segments cause a substantial share (70%) of global maritime emissions. The state of decarbonization in the maritime industry shows that while real progress has been made, ...

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Drewry: World Container Index Down 3% This Week

Drewry’s composite World Container Index decreased by 3% to $7,066.03 per 40ft container this week. Our detailed assessment for Thursday, 30 June 2022 The composite index decreased by 3% this week, and, 16% lower than a year ago. The average composite index of the WCI, assessed by Drewry for year-to-date, is $8,421 per 40ft container, which is $4,930 higher than the five-year average of $3,490 per 40ft container. Drewry’s World Container Index composite index decreased by 3% to $7,066.03 per 40ft container, and is 16% lower than the same week ...

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