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Tag Archives: Tops

Ships’ Demolition Market Still Looking for Its 2019 Footing

While 2018 was a year of near record scrapping, especially in segments like tankers or containers, it seems that the demolition market is still in limbo after the first month of 2019 has gone by. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “we end the week on a mixed note with the lack of demand from the waterfront at India and Pakistan still apparent as the local steel mills are reportedly operating at their minimum production output. This further emphasizes the economic slowdown which is being ...

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Resolving the Blockchain Paradox in Transportation and Logistics

The best blockchain networks are often the hardest to create. A fundamental paradox relating to blockchain technology is on full display in the transportation and logistics (T&L) industry. By increasing transparency, these distributed digital ledgers can mitigate the mistrust that often exists among the industry’s transacting parties. Yet this same mistrust makes it hard to bring together the industry’s diverse participants into a common blockchain ecosystem. The paradox is reflected in the slow rate of blockchain adoption revealed in a recent BCG survey of T&L executives. (See the sidebar, “About ...

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Weekly Report: What Happened In All Things Shipping

Global Growth Goldman Sachs predicts no recession in 2019 but sees a ‘pretty sharp slowdown’ Goldman Sachs does not foresee any recessions in major economies in 2019 but low profit growth is on the cards in the U.S. and Europe, its chief global equity strategist told CNBC. The growth outlook for 2019 is also beset with trade concerns, a slowdown in China, Brexit and political uncertainty in Europe making forecasts for the global economy tricky. The International Monetary Fund (IMF) cited trade tensions when it downgraded its global growth forecast ...

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Shipping Investment Activity Limited to the S&P Markets Thus Far In 2019

Ship owners are not committing funds for the long-term so far in 2019, which means that, instead of newbuilding orders, they ‘re opting for second hand vessels. In its latest weekly report, shipbroker Allied Shipbroking noted that it was “a very disappointing week for the newbuilding market, which apparently went into a state of total clampdown for the time being. With just a single order being reported and this coming from the wet sector, there isn’t much to be remarked in respect to this past week’s activity. With the dry ...

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Liberia confirmed as world’s second-largest ship registry

Liberia is the second largest ship registry in the world, according to leading shipping analyst Clarksons in its Clarksons World Fleet Monitor January 2019. This report confirms that, in gross tonnage terms, Liberia has overtaken and outgrown the Marshall Islands, which now languishes in third place. Alfonso Castillero, CCO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, says, “This is about quality of service, not discounted rates. “The Liberian fleet was the fastest growing major open flag in both the shipping and ...

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Restis To Equip Shipping Fleet with Envirocleanse LLC inTank™ Ballast Water Treatment System

Envirocleanse LLC, division of Charter Brokerage LLC, a BERKSHIRE HATHAWAY company is pleased to announce a fleet sale commitment from Enterprises Shipping & Trading S.A. (“EST”) both for the bulker and tanker arms. The initial installation will be in the 2nd Quarter of 2019, with an additional 30+ vessels over the following 5 years. Mr. E. Candiotis, Fleet Manager for EST remarks as follows: “Finally, a solution that fits with the operational profile of our vessels. This is what the industry has been waiting for the last 10 years. EST ...

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Hellas: Ship owners Led the S&P Charts in 2018 with $4.6 billion

Ship owners from Greece poured 4.6 billion dollars for the acquisition of second hand vessels during 2018, as per VesselsValue data provided exclusively for Hellenic Shipping News Worldwide (www.hellenicshippingnews.com). In total, Greeks bought 305 ships, with a dwt capacity of 28.22 million tons, far more than any other single country. As always, larger ship types were the preferred “weapon of choice”, with the 28.22 million tons being almost double the size of other countries. Globally, as per VV data, a total of 1,628 ships, 90 million-dwt were bought and sold, ...

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The Shipping Industry Receives a Boost from Blockchain

After several successful trials over the last year, Israel’s largest cargo shipping company, Zim, has implemented a blockchain platform for electronic bills of lading. According to Zim, this technology could replace paper bills of lading and further improve other activities which rely on physical means of transfer. Zim recently conducted several transactions in which bills of lading were transferred to the receiver less than two hours from the vessel’s departure, a process that typically takes days or can take weeks. Following these successful trials and initial transactions, Zim will soon ...

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Unrecoverable General Average contributions from cargo interests

P&I insurers normally provide cover in respect of general average (GA) contributions which are not recoverable from cargo or other interests and resulting from the shipowner’s breach of the contract of carriage. The Standard Club provides such cover under Rule 3.14[1]. In the recent case of The Cape Bonny [2], the English Commercial Court ruled that neither the Chinese cargo interests nor their subrogated underwriters were liable for cargo’s proportion of GA (valued at approximately $2.1m) because the owner of the vessel had failed to exercise due diligence to make ...

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Product Tanker Owners’ Fortunes to Improve In Second Half of 2019 on New Refinery Additions

Product tanker owners could potentially see rates improving during the second half of 2019, as a number of new refineries will hit the market. In its latest weekly report, shipbroker Gibson said that “according to a recent IEA report, 2019 is expected to see the largest wave of refinery capacity additions since the 1970’s. The Agency expects that 2.6 million b/d of new capacity will initiate operations this year. In terms of pure volumes, this is of course a bullish sign for the product tanker market, but what really matters ...

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Clarksons: Shining Some Light On The Seasonal Sequence

In 2018 the ClarkSea Index had a very strong Q4, with the average in the final quarter well above that registered across the first three. It’s well known that shipping markets can be seasonal, and studying our ClarkSea Index illustrates that fairly well. But how seasonal actually are they, how far did last year’s Q4 stand out, and how much does a strong Q4 tell us about the year to come? Seasoned Performer In 2018 the ClarkSea Index (our weekly index tracking earnings in the tanker, bulker, containership and gas ...

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Dry Bulk: Capesize Index Slips Across the Board

Capesize A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying threats of a cyclone in West Australia saw the miners on the side lines. The West Australia/China route fell to $6.00 for 6 February onwards and cyclone worries receded, many hoped this was the floor. There was timecharter activity, but rates were only just hovering around five figures. Brazil trading was relatively active, and there were signs of firmer numbers as the week closed out with owners ...

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The World Economy and Shipping: What Will 2019 Bring?

With the global economy and shipping all the more linked with each other, it’s crucial to get a grip on where global trade is heading in 2019. In its latest weekly report, shipbroker Allied Shipbroking said that “the year has not exactly started off on a positive footing, with numerous concerns being voiced amongst most economists as to the health of the global economy and the large number of potential risk present. This week we would add on top of these fears brought about by the recent GDP growth figures ...

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The greatest challenges facing the shipping industry include flattening demand growth, industry consolidation forcing freight rates down and fuel emissions regulations

In a survey conducted by global law firm Reed Smith in 2018, industry participants were asked: What is the greatest challenge facing the shipping industry in the next five years? The findings have been published on www.reedsmith.com in a report titled ‘Is the shipping industry embracing the digital age?’ Respondents identified flattened demand growth as the greatest challenge with 18.3 per cent of the vote, followed closely behind by industry consolidation forcing freight rates down with 16.7 per cent, while meeting fuel emissions regulations received 15 per cent of the ...

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Shipping’s automation shortcomings

Many nations are yet to develop long-term plans for automation in the maritime industry: that’s one findings of a new report from the World Maritime University (WMU) and the International Transport Workers’ Federation (ITF), Transport 2040: Automation, Technology, Employment – The Future of Work, that explores how automation will impact the future of work in transport. The publication, described by the WMU as the first ever assessment of the topic, looks into how the global transport sector will change thanks to automation and advanced technologies. It predicts and analyses developments ...

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