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Dry Bulk Quarterly: Supramaxes face troubled Q4 despite resurgent US grains exports

The Atlantic basin’s strongest season for dry bulk time charter rates is traditionally the fourth quarter, but 2020 has proved that nothing can be taken for granted. With European and US grains seasons coinciding in Q4, spot tonnage typically gets hard to come by as ships in the Black Sea and North Atlantic carry grains cargoes into the Pacific. With demand for ships high and supply low, freight rates are usually pushed up to yearly zeniths. This year though, the ongoing (and sometimes volatile) trade tensions between China and the ...

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VLCCs: Middle East Market Retreats

VLCC Another lacklustre week has seen a slight downturn in rates for most of the routes. The Middle East market has seen rates drop two to three points as 270,000mt AG/China is now W35, while 280,000mt to USG via the cape/cape routing is assessed at a shade under WS19. In the Atlantic region 260,000mt West Africa to China voyages saw rates dip to WS38. Meanwhile, for 270,000mt US Gulf/China rates improved by just over $100k to $4.93m as a Chinese charterer is reported to have paid $5m for a trip ...

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Trans-Pacific container rates take market by surprise; industry players scramble

Trans-Pacific container freight rates scaled new heights over the past month, with multiple general rate increases (GRIs) taking spot rates to week after week of record highs. However, some key moves by authorities in the past week have tempered bullish expectations. Going forward, sources are divided in their expectations for the rest of the year. At $3,800/FEU, the cost to ship from North Asia to West Coast North America is now almost triple what it was at the start of the year, when it was $1,350/FEU. For goods flowing from ...

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Bunker industry’s smooth transition to IMO 2020 paves way for decarbonization

The global bunker industry’s smooth transition into the low-sulfur era mandated by the International Maritime Organization has sent a strong signal to the sector that it can achieve its next goal of decarbonization equally free of hurdles, industry sources said. “The IMO deserves credit as it was a [role] model to implement the regulation on an international basis,” Mitsuyasu Kawaguchi, general manager of crude oil and tanker department at Japanese refiner Cosmo Oil said at the 36th Annual Asia Pacific Petroleum Virtual Conference, or APPEC 2020. In 2019, there were ...

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Hong Kong normalisation more posturing than punitive

Fractured relations between the US and Hong Kong have rattled some shipping cages, but in terms of trade disruptions the US’ ‘Hong Kong Normalization’ plan looks to have more bark than bite. President Donald Trump’s Executive Order on Hong Kong Normalization published on July 14 first led to the recategorization of ‘Made in Hong Kong’ goods to ‘Made in China’ goods. Iris Pang, ING’s chief economist, Greater China, explains she was surprised by the US’ banning of goods exports from Hong Kong labelled as ‘Made in Hong Kong’. “There are ...

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Ningbo Containerized Freight Index Report, 18 September 2020

In the week ending Sep-18, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE)

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China’s Jan-Aug new ship orders down 4.5% on year

China’s shipbuilders received new vessel orders totalling about 15 million dead weight tons (dwt) over January-August, or down 4.5% on year, according to the latest data from the China Association of the National Shipbuilding Industry (CANSI), there was a slight improvement from the 4.8% on-year drop for the first seven months, but the concern persisted on the insufficiency of the backlog. Among the total, about 13.6 million dwt or 91% were for exports, which went down by 6.6% on year, which was also less steep than the 7.7% on-year decline ...

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Coal exporters should brace for disappointment

The world’s largest thermal-coal exporter is eyeing new markets as its largest export destinations threaten to cut imports. Indonesia is targeting Bangladesh, Pakistan and Vietnam as China and India seek to curb thermal-coal imports into the long term. As a result, Australian and South African thermal-coal exporters aren’t going to have it all their own way in seeking increased deliveries to markets such as Vietnam. Furthermore, it looks increasingly like Vietnam, Bangladesh and Pakistan are going to disappoint those hoping for more demand growth from these countries. A key problem ...

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Gibson tanker report – Strong Winds and Rough Seas

As with most crude tanker markets, the Aframax and Suezmax sectors have remained under pressure since June.

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China’s iron ore port stocks hover at 115 mln t

Imported iron ore inventories at China’s 45 major ports remained largely stable at 114.9 million tonnes as of September 17, up marginally by 363,600 tonnes or 0.3% on week, as the higher daily discharge volume offset the growing unloading volume with the ease in congestion, according to Mysteel’s latest weekly survey. Over September 11-17, the number of vessels queuing at the 45 sampled ports for Customs clearance and unloading declined substantially by another 23 on week to 142, according to the data. Source: Mysteel

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KR issues world’s first cyber security class notation to HHI for very large LPG carriers

The Korean Register (KR, Chairman & CEO, LEE Hyung-chul) has presented Hyundai Heavy Industries (HHI) with the world’s first Cyber Security (CS Ready) class notation for a very large liquefied petroleum gas (LPG) carrier. The presentation took place at KR’s Headquarters in Busan on 18 September, in the presence of Hyundai LNG Shipping (HLS, President & CEO, LEE Kyu-bong), Hyundai Heavy Industries (HHI, President & CEO, HAN Young-seuk) and, Korea Shipbuilding & Offshore Engineering (KSOE, CEO, KWON Oh-gap). Hyundai LNG Shipping is the owner of the very large LPG carrier ...

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Tuberculosis: an avoidable problem?

Key facts Tuberculosis (TB) is caused by a bacterium (Mycobacterium tuberculosis) that most often affect the lungs, but it can also spread to other organs, such as the kidneys, spine and the brain. Tuberculosis is curable and preventable. A total of 1.5 million people died from TB in 2018. Worldwide, TB is one of the top ten causes of death and the leading cause from a single infectious agent (above HIV/AIDS). Several seafaring nations are among the top eight countries which account for 87% of new TB cases. Vaccines against ...

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COVID-19 tests may give false sense of security

The IMO, together with a number of industry organisations, have put together a recommended framework of protocols for ensuring safe ship crew changes and travel during the coronavirus (COVID-19) pandemic (IMO Circular Letter No.4202/Add.14). These protocols provide recommendations to ship operators and seafarers, governments, maritime administrations, port authorities and all other stakeholders involved in crew changes on how to manage and control the risk of seafarers becoming infected prior to leaving home, while travelling to join a ship and during repatriation. At a time when many ports and countries operate ...

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Vitol to move gasoil from East India to Australia in rare deal: sources

In a rare move, global trading company Vitol is shipping a 35,000-mt gasoil cargo from India’s Paradip refinery to Australia, reflecting the slowdown in local demand across South Asia, shipping industry sources said Sept. 18. While it is common for gasoil cargoes to be exported from India’s West Coast refineries such as Reliance in Jamnagar and Nyara Energy in Vadinar, most of the output from the 300,000 b/d Paradip refinery in the eastern province of Orissa is sold in the domestic market. “These are barrels [that were offered via tender] ...

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Saudi Aramco accepts October-loading term LPG with some cuts: traders

Saudi Aramco has announced acceptances of October term LPG cargoes with some cancellations or cuts in cargo loadings, traders told S&P Global Platts on Sept. 18. Around three cargoes were heard cut or cancelled, they said, though no details on loading delays were heard. The cuts included cargoes slated for Chinese buyers, though Indian buyers were heard to be getting volumes in line with nominations and with no loading delays reported, trade sources said. Reasons for the cancellations were not immediately known. Many Middle Eastern OPEC members said they needed ...

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