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International Shipping News

NYK Group Companies Recognized at 13th Environmental Management Conference

On November 25 at NYK’s 13th Environmental Management Conference in Tokyo, two companies were recognized for their improvement of company value. The two — Nippon Yuka Kogyo Co. Ltd. and MTI Co. Ltd.— were selected from among 39 domestic NYK Group companies. NYK holds this conference once a year with NYK Group companies to share information on environmental practices and strengthen environmental management. The two recognized group companies were highly commended for connecting their environmental measures to their business activities. Details of the measures are provided below. – Nippon Yuka ...

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MOL Captain Visits Elementary School Social Studies Class – Presenting Lecture at Karasuyama Elementary School in Setagaya, Tokyo

Mitsui O.S.K. Lines, Ltd. today announced that on November 26, the company sent one of its captains to present a lecture to a social studies class at Karasuyama Elementary School in Tokyo’s Setagaya Ward. Students at the school are studying how trade and transportation support Japan’s industrial production, and they listened intently as the captain made his presentation on the measures people involved in trade and shipping take to ensure safe transport. About 90 students listened to the captain’s explanation about jobs and lifestyles of mariners as well as types ...

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UN maritime agency commits to further action on gender equality

Member States of the International Maritime Organization (IMO) have urged further firm action in coming years to advance gender equality throughout the maritime sector and reach a barrier-free environment, following a year of action to “empower women in the maritime community” – the World Maritime theme for 2019. The IMO Assembly, meeting for its 31st session (25 November-4 December) adopted a resolution on “Preserving the Legacy of the World Maritime Theme for 2019 and achieving a Barrier-Free Working Environment for Women in the Maritime Sector”. The resolution urges governments, maritime ...

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Eco-conscious regulations shaping the future

Maritime transport, which carries between 80% and 90% of global trade by volume, is responsible for 2.5% of global Green House Gas emissions (GHG). These emissions could increase up to 12.5% by 2050. Ship emissions also include large quantities of other air pollutants such as sulphur dioxide, nitrogen oxides and particulate matter which endanger both human health and the global environment. In order to reduce emissions, the International Maritime Organisation (IMO) agreed in 2018 to reduce annual shipping GHG emissions by at least 50% by 2050 (relative to 2008 levels), ...

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DNV GL awards Hudong-Zhonghua AiP certificate for gas-fueled 25000 TEU containership design

At the Marintec China trade fair in Shanghai, DNV GL awarded an Approval in Principle (AiP) certificate to Hudong-Zhonghua Shipbuilding for its new gas-fueled 25000 TEU Ultra Large Container vessel (ULCS) design at the CSSC booth yesterday. The AiP is for a design that would be the largest containership in the world. Knut Ørbeck-Nilssen, CEO DNV GL – Maritime, presented the certificate to Chen Jun, President of Hudong-Zhonghua, at the CSSC booth in Shanghai. The ceremony was witnessed by Chen Jianliang, Chairman of Hudong-Zhonghua, and Norbert Kray, Regional Manager of ...

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MABUX: Bunker market this morning, Dec.06

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) slightly rose on Dec.05: 380 HSFO – USD/MT – 340.36(+4.94) 180 HSFO – USD/MT – 385.58(+5.54) MGO – USD/MT – 665.74(+0.16) Meantime, world oil indexes were stable on Dec.05 supported by expectations that OPEC will deepen output curbs but pressured by the prospect that gas condensate will be excluded from cuts for non-member producers. Brent for February settlement increased by $0.39 to $63.39 a barrel on the ...

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Singapore’s gas pricing dilemma exacerbated by IMO 2020

The impasse over Singapore’s piped gas import prices, largely set against fuel oil benchmarks, has taken a new turn as IMO 2020 is raising uncertainty over fuel oil prices and therefore heightening the risks faced by both gas suppliers and end users. Singapore, where gas accounts for over 95% of electricity generation, imports more than 60% of its gas via long-term contracts from Indonesia and Malaysia, which are largely indexed against prices of high sulfur fuel oil with a maximum 180 CST viscosity. The rest, almost 40%, is imported via ...

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ABS and Contemporary Amperex Technology Co. Ltd. Sign Battery Research Agreement

ABS and the Contemporary Amperex Technology Co., Limited (CATL) are to work together to research lithium battery propulsion for next generation vessels. The Frame Cooperation Agreement, signed at Marintec, will see ABS and CATL jointly carry out the research on the technical standards for battery-powered vessels, including key safety-related technologies such as the propulsion system, charging system, power battery compartment layout and fire control. The project also covers research into the technical standards of lithium batteries, including various battery material properties and combustion mechanisms as well as the performance of ...

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Weighing the accounting implications of IMO 2020

The market is expecting that some 3,000 vessels in service will have scrubbers installed by the time the IMO 2020 regulation comes into effect from 1 January 2020. The alternative course will be to operate vessels without scrubbers and consume low-sulphur bunkers, or other compliant fuels, which are expected to be more expensive. As well as the commercial implications of the need to comply with IMO 2020, ship-owners and operators need to consider the accounting implications. From a ship-owner’s perspective, where a decision is taken to retrofit scrubbers any directly ...

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Tankers running on fumes as shipping fuel switch causes delays

Disruption to shipping from the long-anticipated switch to more environmentally friendly marine fuels has finally arrived, exacerbated by logistical problems as much as any shortage of the cleaner fuel. New International Maritime Organization (IMO) rules, referred to as IMO 2020, aim to stop ships from using fuels containing more than 0.5% sulphur unless they are equipped with exhaust-cleaning systems known as scrubbers. From the start of January ships must load very low sulphur fuel oil (VLSFO) or more expensive marine diesel unless they have scrubbers for the old high-sulphur fuel ...

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Oil Tankers Idling Off China Holds Key to Shipping Rates

The fate of at least 15 oil tankers idling off the coast of China holds the key to determining the path of global freight rates. The vessels are owned by a unit of Chinese shipping giant COSCO that was sanctioned by the U.S. in late September for carrying Iranian oil. They’ve been floating off the coast for over a month, ship-tracking data show, in limbo as owners, charterers and potential customers await clarity over the sanctions. For as long as they’re stuck there, effectively removed from the market, global freight ...

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Baltic index dips on sluggish capesize demand

The Baltic Exchange’s main sea freight index declined on Thursday as rates for capesize vessels fell, offsetting gains in other vessel categories. The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, fell 24 points, or 1.5%, to 1,575 points. The capesize index was down by 57 points, or 1.7%, to 3,325 points, ending a nine-day gaining streak. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $687 to $24,229. The panamax index rose ...

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NORDEN enters new biofuel collaboration

NORDEN has entered into a partnership with Danish based Kvasir Technologies, a spinout from the Technical University of Denmark with a patented technology to produce fuel from plant material. “At NORDEN, we want to drive the shipping industry towards a cleaner future. If we are to truly make a difference, testing fuel alternatives is the right starting point”, says Henrik Røjel, Fuel Efficiency and Decarbonisation Manager at NORDEN. “The collaboration with Kvasir is highly welcomed, both as part of our aim to be a front runner in the decarbonisation agenda ...

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DNV GL and Huangpu-Wenchong sign JDP on 5,000 TEU LNG dual-fuel containership

At the Marintec China trade fair in Shanghai, DNV GL entered into a Joint Development Project (JDP) with Huangpu-Wenchong Shipbuilding Company (HPWS) on a 5,000 TEU LNG dual-fuel containership. Ms Wu Ronghui, HPWS Deputy Chief Engineer, and Falk Rothe, Head of DNV GL’s Technical Centre China, signed the JDP. According to the agreement, HPWS and DNV GL will jointly develop a new energy-efficient 5,000 TEU Panamax container ship for the fast-growing intra-Asia trades. In order to minimize energy consumption, emissions to air, and achieve maximum cargo capacity with lower OPEX, ...

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ABS, MAN & SDARI Join Forces to Develop Ammonia-Fueled Feeder Vessel

ABS will advise on compliance and safety considerations as MAN Energy Solutions (MAN) and the Shanghai Merchant Ship Design & Research Institute (SDARI) develop designs for a low-emission feeder container vessel. Signed in a ceremony held at MARINTEC China, the joint development project aims to produce designs for an ammonia-fueled Chittagongmax container carrier of 2700 TEU capacity. “Ammonia is an energy source with significant potential to help the industry meet IMO 2030 and 2050 emission targets but will require stringent new safety standards to be developed in order to support ...

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