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Baltic index scales over 1-year peak as vessel rates jump

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to its highest level since September 2019 on Thursday as demand strengthened across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose 145 points, or 6.7%, to 2,323, its highest since Sept. 12, 2019. The capesize index advanced 232 points, or 7.4%, to 3,383, its highest level since Oct. 9, 2020 Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient ...

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Tanker Market Remains Difficult Despite Brighter Outlook says Angeliki Frangou, as Navios Maritime Acquisition Corporation Reports Return to Profitability

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results today for the fourth quarter and the year ended December 31, 2020. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “The pandemic materially impacted the tanker sector. In early 2020, collapsing oil demand drove the need for storage. As the pandemic progressed, the recession in the travel and entertainment industries migrated to oil transportation. While we believe the outlook looks brighter now, with countries well into vaccination programs and the travel industry ...

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MABUX: VLSFO Prices Higher This Week

MABUX World Bunker Index decreased during the week. The 380 HSFO index has decreased from 407.92 USD/MT to 420.77 USD/ MT (+12.85 USD), VLSFO has added 15.16 USD: from 497.76 USD/MT up to 512.92 USD/MT. MGO LS increased by 12.34 USD from 572.70 USD/MT to 585.04 USD/MT. The Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO –increased during the week and averaged 91.79 USD (87.54 USD last week). SS Spread in Rotterdam has decreased during the week from 102.00 USD up to 100.00 USD ...

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BHP, Oldendorff and GoodFuels successfully complete first trial with sustainable biofuel supplied in Singapore

Global resources company BHP, German shipping company Oldendorff Carriers, and advanced biofuels pioneer GoodFuels, with the support of the Maritime and Port Authority of Singapore (MPA), conducted the first marine biofuel trial involving an ocean-going vessel bunkered in Singapore on 4 April 2021. As part of the trial, the 2020-built 81,290 deadweight tonne dry bulk carrier Kira Oldendorff was refuelled with “drop-in” advanced biofuel blended with conventional fossil fuels. The key objectives of the biofuel bunkering trial include understanding the behaviour of the fuel (such as emissions), assessing engine and ...

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ENGINE: Americas Bunker Fuel Availability Outlook

Bunker fuel availability is good in most major North American ports, while supply has tightened in certain ports further south such as Rio de Janeiro and Guayaquil. Fuel oil inventories are growing on the US Gulf Coast as refiners have boosted production. Gulf Coast inventories added 872,000 bbls to reach a seven-week high of 18.59 million bbls on 9 April, according to the latest data from the Energy Information Administration (EIA). Refineries along the Gulf Coast boosted their fuel oil output through February and March, with production peaking at 100,000 ...

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Singapore fuel oil inventories at 4-month peak as net imports jump

A jump in net import volumes helped lift Singapore residual fuel oil inventories to their highest in more than four months in the week ended April 14, up 1.4% on-week and notching the third straight weekly gain, official data showed on Thursday. Onshore fuel oil stocks climbed by 337,000 barrels, or about 53,000 tonnes, to 23.958 million barrels, or 3.773 million tonnes, Enterprise Singapore data showed. Compared with last year, Singapore’s residual fuel stocks were 2% lower in the week ended Wednesday. A surge in arbitrage flows into the Singapore ...

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GMS: Used and unused spare parts recovered during ship recycling

Ships run round the clock transporting raw commodities and finished goods across the continents. Even in pandemic times, when the entire world was at a standstill, ships ran and kept global supplies uninterrupted. Did we ever wonder who keeps these ships moving? The answer is simple and straightforward: the machinery installed on ships and the seafarers who operate them. An oil tanker takes around 18 days to sail from a load port in Arabian Gulf to a Far East discharge port. It simply means the Main Engine and other auxiliary ...

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Ship Logjam at California Ports Is Easing After March Import Deluge

A monthslong logjam of cargo ships at Southern California’s ports appears to be easing even as imports continue to flood the major U.S. trade gateway. “We are making progress,” Port of Los Angeles Executive Director Gene Seroka said Wednesday. “Today we have half the number of anchorage ships that we reported at the peak in February.” The shipping traffic jam, part of a broader gridlock in supply chains around the world amid disruptions from the coronavirus pandemic, is thinning while record cargo volumes are landing in the U.S. The ports ...

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Crew Welfare And Evidence Preservation In The Aftermath Of A Marine Casualty

When a marine casualty occurs, much of the damage – the loss of life, personal injury, property damage and operational disruption – is apparent in tangible form. Other less tangible forms of damage, such as crew stress and trauma and the effects they can have on a return to normal operations, are less visible. As a normal human response to threat, a seafarer who has recently been involved in a frightening, shocking, unexpected negative incident can reasonably expect some fluctuations in their concentration, thinking ability, emotions and behaviour. Feeling anxious, ...

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Pavilion Energy Imports Singapore’s First Carbon Neutral LNG Cargo

Pavilion Energy Singapore Pte. Ltd. (“Pavilion Energy”) has imported a carbon neutral LNG cargo into Singapore – the first for Singapore and Pavilion Energy. Carbon emissions associated with the LNG cargo from well-to-tank1 including the extraction, production, transportation, and regasification will be offset by retiring a corresponding amount of high-quality carbon credits sourced from its portfolio of carbon offset projects. The carbon credits used for the offset are from Natural Climate Solutions projects certified under the Verified Carbon Standard (VCS) and Climate, Community and Biodiversity Standard (CCB) – Evio Kuinaji ...

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Piraeus: Increased Capacity Of The Pier I Of The Container Terminal Signing Of A Supply Contract For Electric Stacking Cranes (E-Rtg Cranes)

PPA S.A. announces the signing of a new supply contract for five (5) Stacking Cranes (E-RTG), which will be installed in Pier I of the Container Terminal. It is noted that the new electric E-RTGs are more environmentally friendly than conventional ones and their use will improve the environmental footprint of the port of Piraeus. In addition to the above, for further strengthening of the business operation of the Pier I, the following are in progress and will be completed by the summer: a) The supply and installation of one ...

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MPC Container Ships Announces Support of Eyesea

MPC Container Ships ASA (“MPCC” or the “Company”, together with its subsidiaries the “Group”), is pleased to announce its support and membership of the recently launched Eyesea initiative. Eyesea, with the support of the shipping and maritime industry, is developing a maritime pollution reporting and mapping smartphone application through the use of geotagged pictures. CEO Constantin Baack comments in relation to the announcement “The Eyesea app proposes a simple yet effective way for the broader shipping industry to leverage its presence on the world’s oceans to enhance maritime protection and ...

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NYK and NBS Develop System for Creating PCTC Sailing Schedules

NYK and its group company NYK Business Systems (NBS) have developed and implemented a system that assists with the creation of PCTC sailing schedules, thus reducing environmental burden and improving scheduling efficiency. Background Sailing schedules of NYK PCTCs are created after considering several factors, including calling port location, the number of booked units, required arrival dates, and other circumstances such as port congestion and expected weather conditions along the sailing route. However, because vessels call multiple ports to load and discharge vehicles, many manual calculations and much coordination have been ...

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Fugro’s vulnerability assessment informs Port of San Francisco’s safe and sustainable future

Fugro has completed a geotechnical site characterisation, earthquake hazard and geotechnical vulnerability assessment for the Port of San Francisco’s multi-year, multi-billion dollar Waterfront Resilience Program. The work was conducted over a period of 3 years as part of a multi-hazard risk assessment (MHRA) to identify immediate and long-term hazards, such as those associated with earthquakes, flooding and sea-level rise. As the port’s lead geotechnical engineer for future programme phases, Fugro will use the MHRA inputs to develop and design optimal retrofit solutions for the port’s ageing seawall. The 5 km ...

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Fjord Line and Telenor Maritime extend their long-standing partnership

Fjord Line is continuing its successful strategic partnership with Telenor Maritime. Today, they are extending the agreement for the entire fleet for onboard mobile services by five new years. It will be five exciting years of developing and enabling new digital technologies, giving the com- pany more business opportunities and better passenger experience on board all four ships included in the agreement. FSTR means faster Speed is a strong competitive factor in the ferry business, as it is in the telecom- munication industry. When Fjord Line soon puts its new ...

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