Bunker supplier Monjasa is preparing for a rapid transition to introduce IMO 2020-compliant marine fuel 0.5%S in Panama, while staying flexible to prevent early advances before IFO 380 demand falls off there, according to the company’s top official in the Americas. “We haven’t seen a real pickup yet for 0.5%S in Panama,” Rasmus Jacobsen, Monjasa’s Americas managing director, told S&P Global Platts in a recent interview. “We believe [demand is] going to be building up during next month, and then probably take speed over the next months after that — ...

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated slight irregular changes on Sep. 20 380 HSFO – USD/MT 451.44 (-2.38) 180 HSFO – USD/MT 488.38 (-0.20) MGO – USD/MT 682.49 (+2.03) Meantime, world oil indexes also demonstrated irregular changes on Sept.20 amid the uncertainty over the United States’ next move on Iran after the Saudi attack. Brent for November settlement decreased by $0.12 to $64.28 a barrel on the London-based ICE Futures Europe exchange. ...

Saturday’s attacks on Saudi Arabia’s oil industry at one point pushed crude prices up over 19%, but there could be an even bigger impact in the coming months if the outages lead to significant changes in the quality of crudes refiners run, just as cleaner standards for marine fuels are set to kick in in January 2020. The Saudi grades most affected by the attacks are Arab Light and Arab Extra Light, both of which are very popular in Asia and Europe. Of the crudes Saudi produces, these two grades ...

Minister for Maritime Affairs Syed Ali Haider Zaidi has said that all shipping companies which will register their ships in Pakistan by 2030 will be exempted from tax. The minister for maritime affairs said this while addressing a joint news conference along with Adviser to Prime Minister on Commerce, Textile, Industries and Investment Abdul Razak Dawood here on Wednesday. The minister said economic reforms are the top agenda of the government and the federal cabinet has already approved the Shipping Policy of Pakistan. He said this policy will promote shipping ...

Following the application for membership sent by Mr Vincent Favier to Mr António Guterres, United Nations Secretary-General, Ecoslops officially joins the United Nations Global Compact, the largest international voluntary engagement initiative on sustainable development. Launched in 2000 by Kofi Annan, the Global Compact of the United Nations is an international framework of voluntary commitment urging economic actors to adopt a socially responsible approach and to integrate and promote 10 principles relating to human rights, standards labor, the environment and the fight against corruption. The movement now has more than 13,000 ...

Daewoo Shipbuilding & Marine Engineering (DSME) said it obtained design approval from Bureau Veritas (BV) for its liquefied natural gas (LNG) cargo containment system. BV, an international certification agency based in France, is the fifth agency to grant approval to DSME’s LNG cargo containment system, dubbed Solidus. DSME said the design approval certifies its system is capable of being adopted on real LNG carriers. The Korean shipbuilder has already received approval from United Kingdom-based Lloyd’s Register, the U.S. Bureau of Shipping, the Korea Register of Shipping, and Norway-based DNV GL, ...

Abu Dhabi Ports, one of the UAE’s leading proponents of regional trade and investment, today revealed robust operational performance with significant volume growth in the first half of 2019. The company, which operates ports and terminals across the UAE, as well as Khalifa Industrial Zone Abu Dhabi (KIZAD), said its success was driven in part by concession agreements signed with leading maritime firms, such as Mediterranean Shipping Company (MSC) and COSCO SHIPPING Ports (CSP). The agreements have seen an increase in the number of vessels taking advantage of Khalifa Port’s ...

DP World, the world’s largest port operator, is eyeing more investment opportunities to boost growth after acquiring oil services company Topaz Energy and Marine for an enterprise value of $1.08 billion (Dh3.96bn), a top executive said. “Our company has always been active and very proactive in terms of looking at investments, which builds up the concept, which we called enabling the trade,” Mohammed Al Muallem, chief executive and managing director of DP World, UAE told The National on the sidelines of Dubai Maritime Agenda conference on Sunday. “We did that ...

The more popular it becomes to ship Asian containerized exports to the U.S. East Coast versus the West Coast – whether via the Panama or Suez Canal – the more hinterland transport demand shifts in favor of trucks hauling cargo westward at the expense of rail moving boxes eastward. Evidence of the East Coast’s rising importance continues to build up on multiple fronts. In terms of shipping rates, the price to transport a container from China to the East Coast has held up better year-on-year than pricing to California. Consequently, ...

India’s coal import declined by 3.7 per cent to 18.93 million tonnes (MT) in July this year from 19.67 MT in the same month a year ago. Of the total coal imports in July 2019, non-coking coal shipment was at 12.66 MT, coking coal’s was at 4.17 MT, among others, according to a provisional compilation by mjunction services based on monitoring of vessels’ positions and data received from shipping companies. “Against a modest increase in import in June, volumes during July dropped because of softer demand for power during monsoon ...

With big changes coming in the refinery landscape in the future, ship owners active in the clean tanker market stand to benefit from longer ton-mile demand. In its latest weekly report, shipbroker Gibson said that “over the next 5 years, the global refinery landscape will continue to evolve, with the IEA projecting that over 9 million b/d of new capacity will be added, roughly twice the level of refined products demand growth over the same time period. With over two thirds of new capacity being added East of Suez, pressure ...

Recently Clarksons Research published the executive summary from their forthcoming semi-annual report ‘Shipping Review & Outlook’, which will be soon be available on the Shipping Intelligence Network. Introducing the summary, Steve Gordon, Managing Director of Clarksons Research commented, “Despite a range of economic “headwinds”, our overall earnings indicator, the ClarkSea, has continued to trend upwards this year, increasing 12% y-o-y (2018: up 13% y-o-y). In the tanker sector (up 75% ytd, albeit from a low base), our projections, recent Middle East disruption aside, suggest underlying improvements over the next twelve ...

The World Shipping Council (WSC), BIMCO, the Cruise Lines International Association (CLIA), and the International Parcel Tankers Association (IPTA) calls on International Maritime Organization (IMO) member states to fully implement the new global marine fuel sulphur cap mandated through the IMO. As of January 1, 2020, the maximum sulphur content of fuel consumed at sea will be limited to 0.50%, unless an exhaust gas cleaning system is used. The new rules, including the January 1, 2020, implementation date, have been known for a long time, and the industry has worked ...

Capesize The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at the beginning of this past week, it was unable to build any upward momentum and broke to the downside midweek. Brazil to China C3 opened the week at $25.89 to close out Friday at $23.705, while West Australia to China C5 opened at $10.923 to close at $9.145. Trade activity was moderate throughout the week in the Atlantic, while quieter in the Pacific. Bunker pricing for ...

VLCC The attack on Saudi Arabia led to volatile bunker prices and owners capitalised on this with Middle East Gulf rates for 280,000mt to US Gulf basis Cape to Cape now being rated up four points at WS 31 level, whilst 270,000mt to China gained around 15 points to WS 69 region. Rates for 260,000mt West Africa to China followed suit and last seen here was at WS 71, up almost 14 points. The market for 270,000mt US Gulf to China now sits at between $8.05 to $8.1 million in ...