With an unprecedented wave of new LNG supply projects coming on stream, 33 new LNG ships have been ordered globally so far this year, compared to 19 in the whole of 2017 and just six in 2016. Owners have been tempted by higher spot/short-term charter rates, still-low newbuilding prices and rapidly growing LNG trade. New LNG supply is being absorbed far more easily than many expected by booming demand in Asia, according to leading energy consultancy firm Wood Mackenzie. A new wave of FIDs (final investment decisions) on new supply ...

Think of a dangerous cargo, and toxic waste or explosives might come to mind. But granular cargoes such as crushed ore and mineral sands are responsible for the loss of numerous ships every year. On average, 10 ‘solid bulk cargo’ carriers have been lost at sea each year for the last decade. Solid bulk cargoes – defined as granular materials loaded directly into a ship’s hold – can suddenly turn from a solid state into a liquid state, a process known as liquefaction. And this can be disastrous for any ...

The Approval in Principle (AiP) for the new cargo containment system (CCS) was delivered at Gastech 2018 in Barcelona today Paris-La Défense, France, September 17th, 2018: Bureau Veritas, a world leader in laboratory testing, inspection, and certification services, today announced that it has formally issued GTT with an approval in principle (AiP) for the development of a new CCS evolution of the NO96 range. This CCS, named NO96 Flex, benefits from the NO96 proven technology as well as the use of an efficient foam panel insulation. Matthieu de Tugny, COO, ...

The contract for the FPSO Dhirubhai-1, which operates on a 10-year contract on the MA-field with Reliance Industries Limited (“Reliance Industries”) in India, expires on Wednesday 19th September 2018 at 06:00 CEST. Ocean Yield ASA’s (“Ocean Yield” or “the Company”) subsidiary, Aker Floating Production AS, has today received an instruction from Reliance Industries to shut-down production on the MA-field. Reliance Industries has a purchase option for the FPSO which is valid until expiry of the contract. Following contract expiry, Ocean Yield will revert with more information on Wednesday morning,19th September ...

Bombay port was a scene of hectic activity in November of 1819: a great imperial expedition was underway. Warships, troop carriers and support ships were being readied to carry three thousand British and Indian soldiers to wage war in the Persian Gulf. For decades, the so-called “pirate kingdoms” of the Persian Gulf’s southern coast(present day UAE, Qatar and Bahrain) had been preying on British shipping. The British had launched naval patrols and a punitive naval campaign ten years ago, to no avail. This time the authorities resolved that Arabian threat ...

Colombian ports in general present drug trafficking risks. Some, such as Barranquilla, are deemed at lower risk, even though they have recently had a few security- or drug-related incidents. Drug searches by members are not mandatory, nor do members need to take special measures in most Colombian ports, excepting Puerto Bolivar and Puerto Drummond, where they are expected. However, our local correspondents advise searches be conducted in any Colombian port. Such inspections can be undertaken by the navy or by private diving companies. Guidelines for members when trading in Colombia ...

On 10:30 a.m. of 10th September, the massive steel cutting ceremony of first 45000DWT bulk carrier with Hull number N2231 was successfully carried out in the Processing Workshop of Jiangsu New Yangzi Shipbuilding Co., Ltd. This is the first vessel of all six sister 45000DWT bulk carriers that YZJ group build for NAVIBULGAR. Business Dept. introduce the progress and production arrangment for 45000DWT project before the massive steel cutting ceremony. Mr. Aleksandar Kalchev, Executive Director of NAVIBULGAR, Mr. Daniel Harizanov, Technical Director of NAVIBULGAR, Mr. Dimitar Tonev, Newbuilding Manager of ...

IMO’s work to promote better understanding of – and steps to reduce – emissions in ports has reached Georgia, at a workshop for regional participants from Georgia, Ukraine and Turkey. The event, in Batumi (10-12 September) focused on how to undertake emissions inventories and calculate emissions, including GHGs and air pollutants. Participants were also introduced to strategies to address emissions from different sources – such as from seagoing vessels, cargo handling equipment and trucks. The workshop benefited from a training package, specially developed under the strategic partnership between the IMO-run ...

Revenues from the Red Sea Ports Authority reached 2.264 billion pounds during 2017-2018, which is 90-percent more than target. The net profit stood at LE 855 million, which is 50-percent more than target. Chairman of the Authority Hisham Abu Senna attributed the increase in revenues to a strategy that made optimal use of all potentials at the Red Sea ports, not to mention decisions made to develop resources. He also touched upon an increase in the number of ships that transited the Suez Canal, as well as the volume of ...

Today, Tuesday, September 18 2018, the Baltic Dry Index decreased by 1 point, reaching 1356 points.

Today, Tuesday, September 18 2018, the Baltic Dry Index decreased by 1 point, reaching 1356 points.

Capesize Commentary The Singapore F1 grand prix weekend did nothing to fire up the Cape FFA market which came under pressure in early trading. We did however find support after a relatively uneventful index and drifted sideways until a late sell off on the prompt. Q4 found some support at 23k and failed to break that support level despite trading there while the deferred saw very little selling interest throughout the day. Panamax Commentary A quiet start to the week with range bound activity. The morning saw sellers return, influenced ...

Asia to West Africa spot rates are inflating as a consequence of tighter capacity in a growing market. Southbound container shipments from Asia to West Africa in the first seven months of 2018 posted a similarly fast pace of growth as seen last year, driven in large part by a reinvigoration of key economies such as Nigeria and Angola that are benefiting from rising oil revenues. Headhaul Asia-West Africa container demand after seven months had risen by 6.1% to approximately 750,000 teu, according to data from Container Trade Statistics. For ...

The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said Monday that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. The regulations are designed to cut down emissions of sulfur, a pollutant blamed for human health conditions such as asthma. To get customers ready for the fuel upgrade, the Copenhagen-based company will from next year start to break out the fuel ...

Shipping on the Rhine river has been hampered for several weeks by low water levels which are now set to fall to 53 centimeters at key chokepoint Kaub Friday, the lowest since January 2017, Rhine river authority WSV forecast Monday. On Monday midday local time 75 cm were recorded. Levels haven’t been above 118 cm since the start of August resulting in additional transport costs. Premium payments typically apply from 140 cm and below at Kaub, operators said earlier. Reduced barge loadings not only result in higher transport premiums, raising ...