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International Shipping News

S&P Global Commodity Insights Launches Houston Carbon-Accounted Methanol Bunker Prices

Platts, part of S&P Global Commodity Insights, has launched a first-of-type daily sustainable methanol bunker price assessments basis the US Gulf Coast, effective June 13, in response to the maritime industry’s ever-evolving need for greater pricing transparency. The new assessments follow a consultation with the marketplace and are aimed at helping shipowners, charterers, shipping brokers compare the cost of a voyage on low carbon methanol versus other alternative marine fuels such as ammonia and hydrogen. The new Platts carbon-accounted methanol marine fuel (MMF) price assessments will reflect values on a ...

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Singapore fuel oil stockpiles extend climb for third week

Onshore fuel oil stockpiles at key trading and storage hub Singapore rose for a third straight week as imports recovered, data showed on Thursday. Inventories inched 1.6% higher at 19.16 million barrels (3.02 million metric tons) in the week ended June 12, hitting a five-week high, Enterprise Singapore data showed. Net imports, calculated by subtracting total exports from total imports, more than tripled from the previous week to about 538,000 tons. Brazil remained the top origin for inflows for a second consecutive week, with imports extending gains to 185,000 tons. ...

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New ABS Notation Enables Vessel Operators to Carry an Additional Tier of Containers

ABS has published a new notation that enables containership operators to load an additional tier of containers on deck with reduced risk of loss due to parametric rolling. CLP-V(PARR) combines the ABS Computer Lashing Program notation with mandatory Parametric Roll guidance to allow operators to optimize stowage and lashing of containers without loss of safety margin. “Optimizing container loading is key to efficient vessel operations but also has a foundational impact on safety, especially where container losses are concerned. This challenge has been addressed with the new notation,” said Christoph ...

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Kongsberg Maritime takes another step towards autonomous vessel operation with approval to move Chief Engineer role to shore

Kongsberg Maritime has received Approval in Principle from classification society DNV to enable a key role to be transferred from a ship to a shore-based control centre, marking a significant step in the journey towards uncrewed vessel operations. The move will enable the role of Chief Engineer to be located in a Remote Operations Centre (ROC), where the duties can be carried out from a desk-based workstation, instead of onboard a vessel. From the workstation, the Chief Engineer will be able to monitor and control systems including the Power Management ...

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Wrist Acquires Komasco, Expanding its Global Reach to South Korea

Wrist, the world’s largest supplier of provisions, stores and spare parts logistics to vessels and offshore locations, acquires Komasco, a recognized ship chandler in Busan, South Korea. With this acquisition, Wrist is further expanding its global coverage in Asia, gaining foothold at a strategically important maritime hub. In acquiring Komasco, Wrist is expanding its global operational, commercial and procurement network covering a geography where Wrist is not present today. Jens Holger Nielsen, Group CEO Wrist, says “We’re looking forward to working with the Komasco team at the strategically important maritime ...

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Bidding Announcement of 16055t Bulk Carrier “JING HUA 100”

Entrusted by the transferor (the Sellers), we have scheduled to hold a public bidding online (www.shipbid.net) from 14:00 to 14:30 (Beijing time) on June 26th,2024. 1. Bidding Object: MV “JING HUA 100”, Bulk Carrier; PoR: Yangpu, China; Inspection Authority: CCS; Trading Area: offshore; LOA: 147.02m; MLB: 21.00m; MLD: 11.25m; DWCC: 16055t @8.25m draft; GRT: 9909; NRT: 5549; M/E: Guangzhou diesel 8G32E, 2978kW@600rpm x 1 set; Built: November 9th, 2009; Builder: Zhejiang Ningbo Beilun Lantian Shipyard Co.,Ltd (Data and relevant information provided in this announcement are for reference only) 2.Bidding rules: ...

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Baltic index hits near 1-month peak on strong vessels demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, hit a near one-month high on Thursday, supported by higher rates across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 106 points, or 5.8%, to 1,942, its highest level since May 14. The capesize index climbed 259 points, or 9.5%, to 2,985. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, was up $2,144 at $24,752. ...

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Can Shipping Catch Up? New Report Demonstrates Shortfall Against New Climate Goals

The shipping industry must take urgent action to meet ambitious new climate targets set by the International Maritime Organization (IMO), according to a new report from the Sea Cargo Charter (SCC), a global transparency initiative developed by the Global Maritime Forum. New data from the SCC, a global framework representing 20% of global bulk cargo transport, reveals the sector fell short of minimum international climate goals set by the IMO by an average of 17% in 2023, equivalent to 165 million metric tonnes of CO2e. When considering ‘striving’ goals set ...

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INTERCARGO Bulk Carrier Casualty Report highlights positive improvement in safety of dry bulk shipping

Annual casualty figures from INTERCARGO, the International Association of Dry Cargo Shipowners, highlight continuing improvement in the safety performance of the sector. The Association’s Bulk Carrier Casualty Report records the yearly loss of vessels* and lives across the dry bulk sector, with the intention of monitoring the impact of safety measures in the sector across the globe. The bulk carrier fleet has grown significantly in recent years to cater for the world’s growing economy. Between 2014 and 2023 the number of vessels increased by 20% (to 12,200 according to the ...

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Kongsberg Maritime announces groundbreaking, fuel efficient bulker design

Kongsberg Maritime has unveiled its radical new ‘Super-Efficient Bulker’ vessel design concept. The new design is set to redefine industry standards, offering ship owners the means to meet stringent future compliance targets without abandoning conventional fuels. In response to the growing regulatory pressures on emissions and fuel efficiency, Kongsberg Maritime, together with Deltamarin, has developed a vessel design that demonstrates compliance with future regulations is achievable even when using conventional fuels. This new design promises fuel cost savings between 40-50% depending on the operational profile, addressing a crucial industry need. ...

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AEGIR-Marine expands propulsion services to hydraulics

AEGIR-Marine has launched a new propulsion hydraulics workshop from its office in Dubai that offers ship-owners comprehensive overhaul and repair services of propulsion equipment such as controllable pitch propellers, azimuth and tunnel thrusters. By extending its propulsion services scope to encompass hydraulics, AEGIR-Marine will now be able to provide its clients in the Middle East region with a ‘total package’ of propulsion services that includes both mechanical and hydraulic aspects. Housed in a 40-foot container, AEGIR-Marine’s new propulsion hydraulics workshop is fitted out with all the necessary equipment to work ...

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Asia Fuel Oil-Benchmarks rangebound while Singapore inventories climb

Singapore fuel oil benchmarks were rangebound on Thursday, while onshore inventories recovered for a third straight week. Cracks for the low-sulphur (VLSFO) market held stable above $8 a barrel, though trade sources continued to eye the weakness in gasoline margins. Meanwhile, high-sulphur 380-cst (HSFO) cracks hovered at discounts of about $6 a barrel. Spot benchmarks were largely rangebound in recent trading sessions, capped by incoming supply replenishment, according to sources. Onshore fuel oil stockpiles in Singapore rose for a third straight week, led by recovering net imports, which more than ...

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Telenor Satellite changes its name to Space Norway

Space Norway emerges as a leading actor in the Northern European space sector. Following its acquisition by Space Norway Group in January 2024, Telenor Satellite will now be recognised by its new name, Space Norway. As a result of this transaction, Space Norway Group is now Northern Europe’s leading satellite services provider and a key player in the European space sector. Space Norway provides critical satellite services to governments, commercial maritime, land-based industries, and major broadcasters. With a portfolio of satellites, submarine cables and teleport infrastructure, the company serves clients ...

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MABUX: Bunker Prices Expected to Trend Higher Next Week

During Week 24, the MABUX global bunker indices showed robust growth across all segments. The 380 HSFO index rose by 7.74 USD, moving from 536.75 USD/MT last week to 544.49 USD/MT. The VLSFO index increased by 10.97 USD (633.73 USD/MT versus 622.76 USD/MT last week). The MGO index saw the most significant rise, adding 22.09 USD (from 801.93 USD/MT last week to 824.02 USD/MT). At the time of writing, the upward trend moderately continued in the global bunker market. MABUX Global Scrubber Spread (SS) – the price difference between 380 ...

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MOL establish JV with INDU for self-operated warehouses in JAFZA Dubai- Enhancing regional logistics infrastructure

MOL Middle East FZE, a 100% subsidiary of Mitsui O.S.K. Lines Group and a strategic management company in the Middle East, has joined forces with INDU KISHORE LOGISTIC LLC (hereinafter “INDU”), a prominent warehousing entity based in Dubai. Together, they have inked a joint venture agreement aimed at establishing a new company that will oversee self-operated warehouses strategically located within Dubai’s esteemed Free Zones. These Free Zones serve as crucial trade gateways to both the Middle East and Africa, underlining the significance of this collaboration in enhancing regional logistics infrastructure. ...

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