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Tag Archives: Tops

US soya bean exports, up or down?

The trade war has brought increased attention to the soya bean trade between the US and China with 2019 offering conflicting narratives. On one hand, soya bean exports to China in the first six months of 2019 are up 10.9% compared with the first half of 2018, while on the other, exports to China in the 2018/2019 marketing year are down 68.7%. With the 2019/2020 marketing year now just round the corner, this trade is unlikely to return to pre-trade war levels. The combined effects of a worsening relationship between ...

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TT Talk – Review of top 10 risks for container terminals

TT Club continually seeks to understand the risks faced in the transport and logistics industry, providing relevant and targeted loss prevention advice to operators as appropriate. This article focuses on the findings of recent analysis into the risks faced by container terminals. TT Club provides insurance to port authorities, terminals and stevedores in almost half of the world’s top 100 ports globally. As a result, it is well placed to analyse incident data, providing commentary and advice on trends and loss prevention actions. This particular analysis focuses on the top ...

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Bunker Ammonia: Rapid Cross-Sector Progress from Industry, Government, Finance, and Class Societies

The maritime industry has been engaged in a frenzy of research since April 2018, when the International Maritime Organization (IMO) announced its Initial GHG Strategy mandating a 50% reduction in shipping’s emissions by 2050. On one hand, some industry players still believe that “there is no known technology today by which we could reach the 2050 target.” On the other hand, “2030, not 2050, must become the target, as the approximately 20-year lifetime of ships means that steps will need to be in place by then.” (These quotes are from ...

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Clarksons Business Review

Dry cargo The freight market during the first half of 2019 was a huge disappointment due to severe seaborne trade disruptions. The seasonal first quarter downturn was amplified by the impacts of the Brumadinho dam rupture at Vale’s mine in Brazil and subsequently adverse weather in the northern parts of Brazil and in Australia’s Pilbara iron ore region. As a result, iron ore seaborne trade suffered a 4% decline compared to the same period last year. African swine fever, which requires infected pigs to be culled, reduced the soybean feedstock ...

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Simulating the future of maritime

In a scenario in the future, two autonomous ships made by different manufacturers meet each other. How will these ships interact? How complicated will navigation be? Will the vessels discuss complex navigational manoeuvres? Is there a guarantee that the two intellectual machines will interact in a proper way? Simulation or developing mathematical models for IT systems to mimic authentic real-world outcomes can provide several answers to these questions. The maritime sector is not new to simulation and has, in fact, been using it for several purposes apart from just automation. ...

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Member Focus: Autonomous Vessels

In 2018, the Club proudly launched a dedicated autonomous vessel P&I policy, the first of its kind in the world. The Club consulted owners, operators and manufacturers of autonomous vessels to ensure Members had the right cover in place so that they can focus on their operations knowing they are appropriately covered if anything should go wrong. Since then, we’ve gained several new Members who are doing exciting and innovative things with autonomous technology. This article features two of those Members and their recent achievements. Hushcraft One of the Club’s ...

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Use of heavy fuel oil with scrubbers will have a positive effect on global CO2 emissions

Members of the Clean Shipping Alliance 2020 have welcomed a new addition to the canon of scientific literature relating to exhaust gas cleaning systems (EGCS), the latest of which indicates that continued use of residual fuels with a scrubber can help towards global CO2 reduction. In a study published in June by Norway’s SINTEF, one of Europe’s largest independent research organisations, Chief Scientist Dr Elizabeth Lindstad concluded that from well-to-wake the continued use of HSFO or HFO (heavy fuel oil) with an EGCS is the most environmentally beneficial means of ...

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IMO: The chance of postponing 1 January 2020 deadline is zero

The Bulletin met with Frederick Kenney, Director of Legal and External Affairs at the International Maritime Organization (IMO), to talk about why there is no chance that the 2020 sulphur limit deadline will be pushed, what will happen if ships experience operational problems because of the new fuels, and why regulation of open-loop scrubbers should be consistent rather than regional. While the industry – from shipping and refinery to bunker and ports – is preparing, head-on, for 1 January 2020, many questions still cannot be answered, such as those surrounding ...

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Key trends in the LNG carrier market

Ahead of London International Shipping Week, we’ve prepared a summary of the major trends currently shaping the LNG shipping sector. Featuring insights from speakers at the LNG Shipping conference – which is joining LISW for the first time in 2019 – this article provides a snapshot of some of the topics covered by the event. The LNG carrier market is one of the most attractive segments of the global shipping fleet for new investment, buoyed by the ongoing build out of liquefaction capacity initiated in 2016. Perennial uncertainty about the ...

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Tanker Owners Could Have a New Market Soon

The market for ship tankers could soon welcome a new member in Guyana. In its latest weekly report, shipbroker Gibson said that “there may be few new frontiers left in the oil market, with most regions having been tested, even if deemed to be uneconomical in the current oil era. However, from next year there will be a new kid on the block – Guyana. Throughout history, Guyana has hardly made it onto the tanker map. Despite sharing a boarder with Venezuela to the north and Brazil to the south, ...

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Dry Bulk Market: Capesize Rates Dragged Down By Chinese Port Closures

Capesize With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. In addition to this, the national holiday in Singapore gave a weaker trend to the rates, which all lost value during most of the week before bouncing back up a bit on Friday. By week’s end, the West Australia to China route was being rated around the $9.25 level, as rumours flowed this level had been fixed for end August dates. Brazil to China ...

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Flat batteries may erase your MARPOL data

According to IMO guidelines, the 15 ppm Bilge Alarm should record date, time and alarm status, and operating status of the 15 ppm Bilge Separator. The recording device should also store data for at least eighteen months and should be able to display or print a protocol for official inspections as required. In the event the 15 ppm Bilge Alarm is replaced, means should be provided to ensure the data recorded remains available on board for 18 months. During recent Port State inspections, US Coast Guard inspectors found MARPOL deficiencies ...

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Dry Bulk Ships’ Demolition Rate at Lowest Level of the Past Five Years

While the dry bulk market has managed to recover over the past couple of months and net fleet growth remains moderate, ship owners will have to be wary ahead of a trade war, which means that more demolitions could be in order, in order to alleviate tonnage supply. In its latest weekly report, shipbroker Allied Shipbroking said that “demolition activity in the dry bulk sector had seen considerable increases since 2016, allowing us to even see a peak of as many as 60 units being recycled in a single month. ...

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The Vicious Cycle

The shipping markets are classically cyclical, but with extreme volatility. In fact, bulkers and tankers probably have the highest volatility of any major hard asset. The reason for this volatility is due to two main elements: the behaviour of shipowners and investors, and the relatively long build times and working lives of vessels. Effectively, what happens to cause the cycle is: 1. Vessel earnings (charter rates) are low, probably below OPEX and CAPEX because there are too many ships and not enough cargoes. 2. Owners start to send their old ...

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Goodbye globalisation, hello ‘slowbalisation’

Is globalisation on the way out? Researchers at American investment bank and financial services firm Morgan Stanley argue that it might be as a mix of geopolitical shifts and secular trends are “conspiring” to slow down or reverse globalisation. However, trade tensions form only part of the story. Globalisation has been the dominant trend since the late 1900s and few doubted its continuation. Yet, while tariffs may be the most visible barrier, other trade blocks, like new foreign investment review in the US, are weakening the business incentive to globalise ...

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