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Inadequate control on confined spaces highlighted in eCMID vessel inspection analysis

Analysis of more than 1,600 vessel inspection reports in year to 1 April 2024 reveals ongoing safety concerns over confined spaces. A new report from the International Marine Contractors Association (IMCA) has analysed 1,611 standard vessel inspection reports uploaded to IMCA’s eCMID (Common Marine Inspection Documents) and eMISW (Common Marine Inspection Documents for Small Workboats) database in the previous year. The eCMID system provides the marine and offshore industry with standardised formats for vessel inspection. Offering a Safety Management System ‘health check’, it improves the quality and consistency of inspections, ...

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Langh Ship’s third 7800 dwt newbuilding has set sail for Europe

All three vessels of Langh Ship’s 7800 dwt multipurpose newbuilding series have now been delivered. The final vessel of Langh Ship’s multipurpose newbuilding series, named Sofia during a ceremony in Ningbo, China, has begun her journey towards Europe through Singapore Strait and around Africa. Like her sister vessels, Sofia is purposely built to carry the stainless steel coils that Outokumpu produces in Finland. The liner service is established between Outokumpu factories in Tornio, Finland and Terneuzen in the Netherlands. There is a good balance of cargo flows, with stainless steel ...

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Odfjell SE 1Q24: A record quarter

Odfjell SE today reported its results for the first quarter of 2024, showing a record quarter driven by strong markets. The rerouting of vessels away from the Red Sea has elevated freight rates further. Highlights – 1Q24: Record net result of USD 68 million. Net result adjusted for one-off items was USD 69 million compared to USD 50 million in 4Q23. Time charter earnings in Odfjell Tankers ended at USD 195 million, compared to USD 182 million in 4Q23. EBIT of USD 89 million compared to USD 71 million in ...

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CMA CGM to strengthen and reshuffle its SEAS1 & SEAS2 services connecting Asia and East Coast South America

CMA CGM is pleased to introduce its new Asia-East Coast South America set up that will start in May 2024. A major milestone in CMA CGM development on the Asia/Latin America trade, this new set up includes a complete reshuffle of SEAS1 & SEAS2 loops that will allow us to offer our customers the best product in the market. The new features will be the following: SEAS2 – Dedicated to Brazil South Range & North East volumes – Fleet: 12 vessels of up to 13,500 TEU specially designed for this ...

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Can emissions taxes decarbonise the LNG industry?

The LNG industry is under no illusions about the scale of its carbon challenge. LNG projects are among the most emission-intensive energy assets globally and face growing pressure to decarbonise. This won’t come cheap. All available options to cut emissions push up the cost of delivered LNG. And after two years of gas market chaos, few buyers today are queuing up to pay a premium for lower-emission LNG. Carbon taxes could change everything. Europe is already on the case, with the EU extending its emission trading scheme to include shipping ...

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MMi Daily Iron Ore Index Report April 15 2024

Today, Liantie fell first and then rose, and still fluctuated strongly throughout the day.

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China’s Q1 foreign trade surge signals economic upturn

China’s total import and export of goods expanded 5 percent year on year in yuan terms in the first quarter (Q1) of 2024, setting new records in both scale and growth rate, official data showed Friday. From January to March, the country’s foreign trade in goods stood at 10.17 trillion yuan (about 1.43 trillion U.S. dollars), according to the General Administration of Customs (GAC). Exports from the world’s second-biggest economy were 4.9 percent higher year on year to reach 5.74 trillion yuan, while imports rose 5 percent to 4.43 trillion ...

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HMS Diamond heads back to the Red Sea and Gulf of Aden to protect global shipping

HMS Diamond will take over from HMS Richmond, which joined Operation Prosperity Guardian – the international coalition to protect commercial shipping from Houthi attacks – in February. Just this weekend, HMS Richmond successfully repelled a Houthi drone attack in the southern Red Sea, shooting down two attack drones using Sea Ceptor missiles. This is the first time a UK warship has fired a Sea Ceptor missile in combat. The deployment is part of the UK’s broader response to Houthi attacks, which has also included intercepting weapon-smuggling to Yemen, imposing sanctions ...

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Russia’s Sovcomflot considering alternative shipping routes in case of Red Sea escalation

Russia’s leading tanker group Sovcomflot FLOT.MM is considering alternative shipping routes in case of further escalation of the crisis in the Red Sea, the TASS news agency reported on Tuesday. The United States and Britain launched a series of strikes on Yemen last week aimed at the Iran-backed Houthi militia, whose attacks on international shipping have disrupted one of the world’s most important trade routes since December. According to British maritime security firm Ambrey, last week the Houthis mistakenly targeted a tanker carrying Russian oil. Tass quoted Sovcomflot as saying ...

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Monjasa buys Panamax as floating storage in double tanker acquisition for West Africa

Global oil and shipping group, Monjasa, remains active in the market for second-hand tonnage following the acquisitions of three tankers earlier this year. Today, Monjasa reveals additional ownership of the two tankers, Monjasa Leader (68,589-dwt) and Monjasa Refiner (13,051-dwt) for floating storage and bunker operations in West Africa. Increasing number of owned vessels Since 2018, the number of Monjasa-owned vessels has increased from five to 13 to ensure highly specialised operational standards, while at the same time lowering overall operating costs. To realise the ambition of extended fleet ownership, the ...

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STOCK MARKET SNAPSHOT FOR 25/10/2023

NASDAQ-Adv: 2,635 Dec: 1,581 NYSE-Adv: 2,757 Dec: 1,184 (Source: Nasdaq)

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Europe Distillates-Diesel cracks firm on strong demand

Northwest European diesel barge refining margins rose sharply to about $41 a barrel on Friday on strong demand and despite rising regional stocks. There was brisk buying activity in the afternoon trading window with BP buying nearly 21,000 metric tons of diesel on barges. Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose by 3% in the week to Thursday, their first rise in five weeks, data from Dutch consultancy Insights Global showed. Gasoil stocks rose to 1.92 million metric tons as imports into ...

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SAAM Towage Peru serves the largest vessel to call on the west coast of South America

SAAM Towage Peru recorded a new milestone by servicing the largest vessel to reach the west coast of South America. The Alexander Von Humboldt, belonging to the CMA CGM shipping company and part of the ACSA 1 service connecting Asia and South America, docked at the Port of Callao. The ship measures 396 meters in length, 53.6 meters in beam and has a capacity of 16,590 TEUs. Due to its size, the vessel required the assistance of three tugboats with a bollard pull capacity of 70 tons. The SAAM Towage ...

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Could deep sea mining solve our critical metals dilemma?

The end is nigh for the internal combustion engine Electric vehicles will be phased in across the next decade, with two-thirds of vehicles sold in the US by 2032 mandated to be electric. In California, 100% of cars will need to be electric by 2035. As a result, demand for the precious metals that are needed for EVs is forecast to increase significantly. Every solution creates its own challenges. Electrification is one of the answers to the net zero question, but it’s created an issue in itself – where are ...

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Customers to benefit as Bochem Houston joins Stolt Tankers’ fleet

Stolt Tankers is pleased to welcome the Bochem Houston to its Stolt Tanker Joint Service, bringing the number of ships in its deep-sea fleet to 84. The Bochem Houston is one of six newbuildings ordered from the CMJL shipyard in China by Belgian shipowner Compagnie Maritime Belge (CMB). Stolt Tankers reached an agreement with CMB’s chemical tanker division Bochem in June this year for the long-term time charter and pooling of the six 26,000 deadweight chemical tankers. The remaining five ships are expected to enter service in 2023 and 2024. ...

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