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International Shipping News

What does the future hold as we make our first steps to decarbonisation with vessels using alternative fuels, was the subject of a webinar held by Stream Marine Technical

Great strides have already been made in a short space of time as the shipping industry navigates its journey to decarbonisation, was a key message that came out of a webinar held by Ship Management International (SMI) and leading maritime safety training provider Stream Marine Technical. Part of the Stream Marine Training Group (SMG), Stream Marine Technical brought together perspectives from training, classification and insurance, to discuss what lessons have been learnt and how the industry can prepare itself for the ambitious 2050 maritime goals of reducing carbon emissions. This ...

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HMM’s Share of Asia-U.S. West Coast Route Falls to 4% Range

HMM’s share of the Asia-U.S. West Coast route has fallen to the 4 percent range in seven years. The route accounts for more than 40 percent of HMM’s sales. The drop in HMM’s market share is because not only large shipping companies but also small and medium-sized shipping companies that do not belong to maritime alliances have greatly increased services on the lucrative route. HMM’s share of the Asia-U.S. West Coast route reached 4.8 percent in the third quarter of this year. The company posted 6.8 percent in 2020 and ...

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Cobham Satcom introduces unique multi-band innovation to significantly simplify maritime operations

Cobham Satcom, the leading provider of radio and satellite communications solutions to the maritime and land mobile sectors is proud to add first-to-market innovation and versatility to its proven, industry-standard Sea Tel technology with the introduction of Sea Tel 1500, a 1.5-meter dual-band, multi-orbit VSAT antenna solution. Available in single Ku- or Ka-band, or as a ‘two antennas in one’ dual Ku-Ka-band configuration, the Sea Tel 1500 is a cutting-edge antenna system enabling vessels to seamlessly switch from Ku- to Ka-band in a simple click, ensuring that they benefit from ...

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Bidding Announcement of Bulk Carrier “DE XING HAI”

Entrusted by the transferor (the Sellers), we have scheduled to hold an online public bidding on www.shipbid.net from 14:00 to 14:30 (Beijing Time) on November 30th, 2022. 1. Bidding Object: MV “DE XING HAI”, Bulk Carrier; Flag: China; Class: CCS; LOA:185.84m; MLB: 30.40m; MLD: 16.20m; GRT: 25891; NRT: 14498;Light Displacement: 8015t; DWCC: 43665t on 11.3m Draft; M/E: 6L60MCE*1 set, [email protected]; Built Time: January 19th, 1990; Builder: Tsuneishi Shipbuilding Co., Ltd (Japan). (Data and relevant information provided in this announcement are for reference only) 2. Bidding Rules: 2.1 The bidding will ...

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Techcross Acquired the Cyber Security Capability Cert for its BWMS

Techross’ ballast water management systems received the Cyber Security Capability certification from Lloyd’s Register Classification on November 15. The two models that received the certificate are ECS, direct electrolysis and HYCHLOR, indirect electrolysis. LR Classification announced that Techcross is the first company to receive the Cyber Security Capability certification in the BWMS industry and Asia. With the recent development of smart ships, ship management has transitioned to computer-driven, such as IT and IoT. Voyage log software and digital data operated through the communications network present huge opportunities for improving efficiency ...

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Indian Register of Shipping supported INMARCO 2022 is a huge success

Indian Register of Shipping (IRS) continued its steadfast support as a ‘Principal Supporter’ to INMARCO 2022, a quadrennial event organised by The Institute of Marine Engineers (India). The much-awaited event saw attendance by a galaxy of leading Indian and international professionals from all segments of the maritime sector. With the event theme focussing on ‘Evolving Maritime World for Greener & Sustainable Future’ decarbonisation was high on the agenda and several deliberations focussed on the roadmap in achieving IMO strategy/goals. The event was well attended by policy makers, regulators and industry ...

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Global valuation and data provider, VesselsValue, announces the rebrand of recently acquired Shipping data and consultancy firm, ViaMar

The ViaMar rebrand reflects the ongoing synergies between both companies, as well as illustrating VesselsValue’s continued investment in and expansion of its Maritime data services and offering for their clients. The appointment of ViaMar’s new Managing Director, Martin Kjendlie will facilitate this growth. Martin will be responsible for overseeing the strategic direction of ViaMar, with a specific focus on the commercial development of the company’s Shipping consultancy, forecasting, and report services. He joins ViaMar with a wealth of experience in the Shipping industry, most recently having been a Senior Advisor ...

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CargoValue now measuring a significant share of global emissions from dry bulk shipping

In less than 12 months, Klaveness Digital together with ZeroLab have commercialized an emissions monitoring solution that is now live in CargoValue. The monitoring solution, titled ‘Emissions’, is now measuring a significant share of emissions from global dry bulk shipping, empowering its customers to continuously track and manage their carbon footprint. “Arming our industrial customers with crucial insight like this means they can spend their time actively looking for emissions hotspots and opportunities to reduce their footprint,” said Klaveness Digital Managing Director Aleksander Stensby. Mitigating carbon risk in the supply ...

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ABS Publishes Detailed Requirements for Composite Repairs

The ABS Requirements for Bonded and Composite Repairs of Steel Structures and Piping is the latest in a portfolio of technical requirements from the premier classification organization to support the marine and offshore industries. Particularly with offshore structures that remain at their operation sites for long periods of time, corrosive damage is frequently discovered yet difficult to repair using traditional methods that involve hot work welding and drydocking. Instead, adhesively bonded repairs can be used which can reduce operational downtime, minimize disruption onboard and reduce safety risks. The new ABS ...

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Chinese shipping and port names boast ‘attractive valuations’, profits helped by rate hikes and Asean agreement

Blue-chip shipping and port names in China are currently at attractive valuations, writes UOB Kay Hian Research analyst Roy Chen. Despite some slowdown in volume growth amid near-term economic headwinds, Chen expects the port segment’s profitability to be largely stable due to recent rate hikes and notes that China’s integration within RCEP is a medium-term positive. The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement (FTA) between the 10 Asean member states and its five FTA partners: Australia, China, Japan, New Zealand and Republic of Korea. “As for ...

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Korean Register releases SeaTrust-HullScan V3 software for ship design

Korean Register (KR) has released a new version of its popular structural assessment software, SeaTrust-HullScan V3, to dramatically improve its ability to handle large-capacity graphics and cope with ever more complex ship designs and regulations. SeaTrust-HullScan V3 performs structural analysis for various types of vessels and marine structures by using FEM (finite element modeling). It has been widely used by leading shipbuilders and research institutes since its first release in 2014. South Korea’s major shipbuilders use SeaTrust-HullScan as a standard software for CSR (Common Structural Rules) applications. When designing a ...

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Baltic index snaps 9-day losing streak on capesize gains

The Baltic Exchange’s dry bulk sea freight index rose on Wednesday for the first time in ten sessions, helped by an uptick in capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, added 35 points, or about 3%, to 1,184. The capesize index added 127 points, or 11.6%, to hit its highest in a week at 1,219. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, increased $1,049 to $10,106. Meanwhile, ...

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Momentous changes in the cargo ship fleet

A steady growth trend has evolved in the world merchant ship fleet during the past few years. But this broad view hides contrasting changes among the main vessel types. In the period ahead, further large variations are likely among categories. Bulk carriers, tankers, container ships, and liquefied natural gas carriers are the four biggest categories, together comprising 90 percent of the entire world merchant ship fleet’s carrying capacity. In each of these segments newbuilding deliveries and scrapping volumes have varied both over time and in proportion to the existing fleet ...

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Xeneta forecasts falls in freight rates, volumes and demand as storm clouds gather for 2023

After over two years of rising rates and overstretched capacity, the rapidly cooling ocean freight market looks set for an “extremely challenging” 2023, according to Oslo-based Xeneta. An in-depth analysis of the latest real-time ocean and air freight rates, combined with expert trend forecasts, suggests that ocean cargo volumes could fall by up to 2.5%, rates will drop “significantly” and weak demand will force increased idling of vessels. The air freight market, analysts predict, will also face a turbulent twelve months. Out of balance From climbing to historical highs during ...

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Russian oil moving to Asia on older vessels elevates shipping risks: Trafigura CEO

The global oil market has witnessed the mushrooming of smaller trading firms who are moving Russian oil much longer distances to regions like Asia in older ships, potentially raising the risk of shipping errors and accidents, Trafigura CEO Jeremy Weir told the Financial Times Live conference Nov. 23. Following the start of the Russia-Ukraine conflict, these smaller companies have been set up to fill the trade gap due to bigger companies, such as Trafigura, cutting back on Russian oil trade to comply with international sanctions on Moscow, he said. “A ...

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