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Tag Archives: Tops

Product Tankers In Demand

Demand in the S&P market was mainly focused around product tankers over the past week. In its latest weekly report, shipbroker Banchero Costa noted that it was “a fairly active week with a clear focus on the product tanker segment. As usual we start from bulkers and the Real Happiness 76,000 dwt, built 2005 by Imabari which was sold in a private deal by Japanese owners to Castor Maritime for $10.2mln. The Dolphin57 Suprastar built 2011 by Qingshan is reported sold to Chinese buyers for a price of $10.4mln, in ...

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New Data Shows 9.6 Percent Reduction in CO2 Emissions from Container Shipping since 2015

Carbon dioxide emissions from 17 of the world’s leading ocean container carriers, representing approximately 80 percent of global containerized shipping, continued to fall in 2018, according to a new report from BSR’s Clean CargoTM. Since 2015, CO2 emissions per container carried have dropped by 9.6 percent, indicating that Clean Cargo members are making progress towards meeting the target set by the International Maritime Organization (IMO) of halving CO2 emissions from shipping by 2050. Clean Cargo’s aggregate average Trade Lane CO2 Emissions Factors are compiled from the carbon dioxide emissions data ...

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Global Maritime Issues Monitor 2019: Environmental and climate related issues jump to the top of decision-makers’ agenda

Senior leaders foresee environmental and climate related issues to have a major impact on the maritime industry in the coming decade. This is a key finding of the Global Maritime Issues Monitor 2019, published yesterday by the Global Maritime Forum; Marsh JLT Specialty, a division of global insurance broker and risk adviser Marsh; and the International Union of Marine Insurance. Survey respondents from 46 different countries around the world highlight ‘decarbonization of shipping’, ‘new environmental regulation’, ‘societal demands for sustainability’, and ‘failure of climate-change mitigation and adoption’ as four of ...

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Panamaxes and Capesizes Lead as Australian Coal Exports To China and South Korea On the Rise

Australian coal exports are on the rise this year, with China and South Korea proving to be the preferred markets so far. In its latest weekly report, shipbroker Banchero Costa said that “coal trade in the Pacific basin has been generally positive so far this year, and this has benefitted not only Indonesian exporters but also Australia, although to a slightly smaller extent. In the first 9 months of 2019, based on Refinitiv vessel tracking data, Australia exported 290.6 mln tonnes of coal (including both metallurgical and thermal). This was ...

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Box Ships are Booming

VesselsValue has just added Containers to the list of vessels covered by their Trade module. This means that users can now analyse cargo mile demand and see underlying vessel journeys and stoppages for the global fleet of Containerships. Adrian Economakis, COO, looks at key data to determine which are the most attractive segments for owners and investors, and where the market as a whole, as well as values may be going in the next few years. “Our Container trade service provides a data driven approach to understanding Containership demand, updated ...

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Does IMO 2020 expose shipbuilders to claims for breach of contract?

Since the adoption of the 0.50% m/m maximum global limit on sulphur content by the IMO in October 2016 much consideration has been given to the practical and legal challenges facing shipowners in meeting the global limit effective from 1 January 2020. However, there has been little focus on the potential impact on shipbuilders, specifically their potential exposure for breach of contract. Regulation 14.1.3 Annex VI of the Marpol Convention applies directly to shipowners, reducing the permissible sulphur content of fuel on board intended for use as bunkers from 3.5% ...

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Offshore Support Vessel Market Looking for Further Gains

Things are improving for Offshore Vessels Owners as market conditions are gradually improving. In a recent weekly report, shipbroker Intermodal said that “as we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market during the past year, would continue throughout the year. This is supported from the oil price, which during the past month has been trading at levels steadily above $55/barrel and having reached higher levels during the year. This is in contrast to past ...

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Oil and Water: A Day in the Life of a VLCC Harbor Pilot: “A cool, calm courage that no peril can shake”

Emad Talhah is a Chief Harbor Pilot and Mooring Master at Saudi Aramco. He is based in Ras Tanura. 6:45: Pilot Boarding Area Next to our tiny craft, the supertanker looms like a skyscraper rising from the deep. Mini-metropolis may be more like it: stretching the equivalent of five city blocks, the VLCC – or Very Large Crude Carrier – is as long as New York’s Empire State Building is tall. Navigating the choppy waters, our pilot boat angles toward the VLCC, pulling starboard alongside the fast-moving vessel in a ...

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Shipping container prices tumble on inventory glut

Prices for new and second hand shipping containers as well as lease rates fell in 3Q19 as factory stocks continued to build up and prospects for container shipping cooled. Container shipping remains challenged by rising geopolitical uncertainty and a slowdown in the global economy. In response Drewry recently cut its forecast for global container port throughput in 2019 from 3% to 2.6%. Add to this the growing number of boxes stockpiled in depots around China, estimated to be over one million TEU, and it’s no surprise that the container manufacturing ...

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The Case for LNG as a Shipping Fuel

With IMO 2020 now just a couple of months away, it’s worth taking a look at alternatives towards compliance, such as LNG fuel. In its latest weekly report, shipbroker Gibson said that “back in May we discussed the IMO’s plan to reduce CO2 emissions by 40% by 2030 and GHG emissions by 50% by 2050 (compared to 2008 levels). LNG propulsion, whilst by no means perfect, appeared to offer the best route to towards meeting the IMO’s targets. Since then, LNG has gained popularity with more orders placed across the ...

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Dry Bulk Market: Capesizes On Rebound Mode

Capesize The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop in value for the first part of the week, the 5TC now appears to have turned its fortunes around to settle the week out almost unchanged. 5TC opened $25,117, dropped to $23,740 midweek before closing up Friday at $24,945. The West Australia to China C5 continues to trade its range closing Friday at $9.268 up from $8.823 mid-week with healthy trading activity throughout the week ...

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Mental health and seafarers: It’s time to talk

Seafarers live and work under more challenging conditions than most of us. They are exposed to an environment that stays with them 24/7 for the duration of their tenure on board the vessel. This Insight addresses some of the key issues that affect their mental health every day of their working lives while they are on board the vessel. Some factors can be controlled and others cannot. Knowing what can be controlled provides an opportunity to make the positive changes. Before looking for solutions, it is important to understand what ...

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Ship Repair Yards Fill Up On Retrofitting Rush

As was widely expected, ship repair yards around the world are now mostly occupied, as a result of a flurry of scrubber retrofittings and other maintenance or repair works. In its latest weekly report, shipbroker Intermodal said that “moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipyards stretching their capacity to the maximum possible. Their only task, to accommodate as many projects as possible despite the prevailing restrictions on berthing capacity, ...

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CO2 emissions from ships: Council agrees its position on a revision of EU rules

The EU is making efforts to cut red tape for ship owners while maintaining its high standards for the monitoring of CO2 emissions from maritime transport. Today, the ambassadors of EU member states agreed on their position on a proposal which updates existing EU rules, and partially aligns them with the global data collection system for ship fuel oil consumption of the International Maritime Organisation (IMO). “The maritime transport sector has to become more energy efficient and use less fuel to contribute to our climate goals. We want companies and ...

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Alcohol, Biomethane and Ammonia are the best-positioned fuels to reach zero net emissions

A study by A.P. Moller – Maersk and Lloyds Register confirms that the best opportunities for decarbonizing shipping lie in finding new sustainable energy sources. Based on market projections, the best positioned fuels for research and development into net zero fuels for shipping are alcohol, biomethane, and ammonia. Energy efficiency has been and still is an important tool for Maersk to reduce CO2 emissions. Efficiency measures have positioned Maersk 10% ahead of the industry average. But getting to net zero requires a total shift in the way deep sea vessels ...

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