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International Shipping News

GAC Thoresen Logistics achieves BRC global standard

GAC Thoresen Logistics’ (GTL) 20,000sqm food-grade distribution facility in Amata Nakorn has achieved an ‘A’ rating, the highest grade available, for the British Retailers Consortium (BRC) Global Standard for Storage and Distribution. The ‘A’ rating comes after GTL, one of Thailand’s leading providers of customised supply chain solutions, underwent a rigorous auditing process covering hazard and risk analysis, quality management system, site and building standards, vehicle operating standards, facility management, good operating practices and more. The internationally recognised BRC standard is Global Food Safety Initiative (GFSI) benchmarked, ensuring product integrity ...

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Fugro’s Contribution To Global Ocean Mapping Earns NOAA Commendation

Fugro’s leadership in advancing global ocean mapping has earned it a formal commendation from the U.S. National Oceanic and Atmospheric Administration (NOAA). The recognition came during a recent industry briefing with Fugro and NOAA about The Nippon Foundation-GEBCO Seabed 2030 Project, a global initiative to map the world’s oceans by the year 2030. Given that more than 80 percent of the world’s oceans remains unexplored and unmapped, NOAA’s Assistant Administrator for Oceanic and Atmospheric Research, Craig McLean, underscored the importance of the role of the commercial sector in meeting the ...

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New Anti-Pollution Shipping Rules to Raise Oil Prices

International efforts to reduce air pollution has lifted the hopes of oil traders, as new shipping regulations are expected to boost demand for lower sulfur fuels, raising demand for crude, as the bank’s analysts report. The current growth in oil prices already exceeds earlier predictions amid OPEC supply cuts, Sputnik reported. Morgan Stanley’s report predicts that the Brent price will reach $90 per barrel by 2020, as demand for crude oil skyrockets by 1.5 million barrels a day, supported by the new shipping rules. In less than two years, new ...

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Malta: Keeping the maritime sector abreast of developments in the industry

Members and guests of the Malta Maritime Forum were invited to participate in a progress meeting held with the aim of keeping the maritime sector abreast with developments in the industry. The meeting was attended by over 50 guests and was moderated by Angelique Maggi, the vice chairman of the Malta Mediterranean Hub. MMH have recently taken over the ex-Marsa Shipbuilding facility to develop it into a maritime hub specialising in the specific requirements of the oil, gas and marine sectors. The session was opened by Joe Borg, chairman of ...

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Rising Oil Prices Good News for US LPG Exports

Global LPG trade flows have structurally shifted as a result of the rise in US Gulf exports, which now make up the largest weight of cargo shipped in the first quarter of 2018 (2013 same period shown for comparison). Rising oil prices may encourage additional gas rigs to come into service in the US, which would increase production. US Propane prices are closely correlated with WTI oil prices. The low freight environment should encourage more arbitrage shipments from the region, and increase ton mile demand, particularly on VLGCs. Exports from ...

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Lost potential

New sanctions on Iran and Russia won’t derail the container market recovery, but would suppress potential growth. US President Donald Trump’s unilateral decision earlier this month to pull his country from the Iran nuclear deal (the Joint Comprehensive Plan of Action that was co-signed by Iran, China, the European Union, France, Germany, Russia and the United Kingdom in July 2015), has the rest of the world scrabbling for a Plan B. Should negotiations fail to resolve the matter all non-US countries will be faced with a thorny dilemma: how to ...

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Large ship managers need to digitalise or die

Medium to large companies such as Columbia Marlow, an international ship manager, need to digitalise over the next five years or they will go out of business. Shippping is being encouraged, and in some places being pushed, to embrace digital solutions to enhance services and efficiencies. Following the merger last year of Columbia Ship Management and Marlow Navigation, two sizeable ship management firms in the industry, the new larger company decided to look at how it could benefit from digitalisation. Columbia Marlow chief executive Mark O’Neil, speaking at the Fathom ...

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Kazakhstan’s company will operate container fleet of Chinese Cosco Shipping

Kazakhstan’s KTZ Express will operate the container fleet of Chinese Cosco Shipping, the press service of Kazakhstan Temir Zholy JSC (KTZ) reported. Kanat Alpysbayev, head of KTA, held a series of meetings in Shanghai with representatives of logistic platforms in the Chinese provinces of Zhejiang (Yiwu), Hunan (Changsha), Jiangsu (Lianyungang), Shaanxi (Xian), Sichuan (Chengdu), Henan (Zhengzhou) and Chongqing, and also the company Cosco Shipping Lines to discuss prospects for cooperation on a number of joint projects,” reads the message. “Within the framework of the meetings (…), agreements were reached to ...

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Sulphur Cap Chaos in 2020 Warn World’s Shipowners

The International Chamber of Shipping (ICS) fears ‘chaos and confusion’ unless the UN International Maritime Organization (IMO) urgently resolves some serious issues concerning the successful implementation of the 0.5 percent sulphur in marine fuel cap, which is scheduled to come into effect globally overnight on 1 January 2020. Such chaos would have serious consequences for the movement of the world’s energy, raw materials and manufactured products – about 90 percent of global trade being carried by sea. This was the principal conclusion of the Annual General Meeting of ICS’s member ...

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Feature: Shipping sector M&As, economic growth cut vessel arrests in Singapore

The number of shipping vessels arrested in Singapore hit a multi-year low in 2017 thanks to consolidation in the industry, greater credit scrutiny, and a pick-up in global economic growth, trade sources said Monday. Only 33 vessels were arrested in Singapore last year — a five-year low — compared with 57 in 2016 and 114 in 2012, data from the Supreme Court of Singapore showed. Warrants for arrest also showed a similar trend. A total of 38 warrants of arrest were filed last year, compared with 68 the year before ...

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Panamax Synergies Realised Through Asset Plays – Star Bulk Wows the Market

The acquisition of the Songa Bulk fleet by Star Bulk provides their new owners with a fleet renewal opportunity in the strong Panamax bulk carrier market. Spot market earnings for ships of this size have been moving steadily upwards since the start of 2016, and supply and demand fundamentals are supporting further upside. This purchase allows Star Bulk to expand their fleet on the water immediately to capture the value in the strong market, while also driving down their average Fleet age in the segment. Asset values for a 10 ...

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KR releases faster upgraded SeaTrust-HullScan

IACS member, Korean Register (KR) has significantly updated its SeaTrust-HullScan software to offer much faster operating speeds and many more functions. SeaTrust-HullScan V2 is a specific software package developed for the structural strength analysis of bulk carriers, double hull oil tankers, containers ships based on KR’s Rules and the Harmonized CSR. The latest version has been redeveloped following direct feedback from users in shipyards and design firms. Users rated the DSA (Direct strength assessment) highly, but the Rule aspects of the software have been upgraded. The updated software is more ...

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Maritime push on greenhouse emissions

With regulations in place to reduce sulphur emissions from ships globally, the International Maritime Organisation turns its gaze to a new horizon – the reduction of greenhouse gases. In early April, the IMO’s Marine Environment Protection Committee (MEPC) held its 72nd session with the aim to address the future of emissions reduction in the maritime industry. “As a member of the United Nations family, IMO is encouraged by the spirit of the Paris Agreement (on climate change) and fully committed to further limit and reduce greenhouse gas emissions from shipping,” ...

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Gothenburg bunker fuel premium over Rotterdam widens, supported by demand

The premium of 380 CST fuel oil at Gothenburg, Sweden, over Rotterdam, The Netherlands, hit its widest all year Friday, buoyed by strong demand at the Swedish port. S&P Global Platts assessed Gothenburg 380 CST delivered bunker fuel at a $28 premium to Rotterdam, $12 wider on the day and its largest since October 17, 2017, when it was assessed at $31. Gothenburg had strong demand at the end of last week, which gave extra support to prices that were already high on firm ICE Brent crude futures. “Demand is ...

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Announcement of selling NEW “Viable Organism Analyzer” – Environmental Initiatives Following International Regulations about Ballast Water

Mitsui O.S.K. Lines, Ltd. is pleased to announce that its group company MOL Techno-Trade, Ltd. (President: Hirokazu Hatta) sells a new type of “Viable Organism Analyzer (VOA1000K)” which designed and developed by SATAKE CORPORATION (Chairperson: Toshiko Satake). Viable Organism Analyzer can detect the number of viable organisms in the ballast water and it can be used simply and easily on board. The analyzer can estimate the number of both viable organisms of Large size (Minimum diameter ≧ 50 µm) and Small size (Minimum diameter 10 µm ≦ x < 50 ...

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