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Tag Archives: Tops

Tanker Market: Robust Levels All Around During November

The tanker market has been on a high during November as well. In its latest monthly report, OPEC said that dirty tanker spot freight rates in November remained at robust levels relative to the lacklustre performance seen for most of this year, but were down from the record highs seen in the previous month. At the end of September, an announcement of sanctions on two subsidiaries of China’s shipping giant Cosco surprised the market at a time of seasonal uplift in demand for longer haul voyages and reduced tonnage availability ...

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Shipping at COP25: Full speed ahead towards full decarbonisation

Friday at COP 25, the UN Climate Change Conference, in Madrid, the International Chamber of Shipping (ICS), the European Community Shipowners’ Associations (ECSA), and the Spanish Shipowners’ Association (ANAVE) organised an event dedicated to the decarbonisation of shipping. “As shipping’s global regulator, the UN International Maritime Organization has successfully enhanced the sector’s impressive environmental performance through a comprehensive framework of regulations which enjoy robust enforcement worldwide and this includes greenhouse gas reduction,” said Simon Bennett, ICS Deputy Secretary General. “There are already mandatory CO2 reduction regulations in force globally that ...

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China: still reasons to be cheerful

China’s economy has been characterised by two key themes over the past two decades, but what will be the theme for the coming ten years? Exports was the key theme in the 2000s. China started that decade as a WTO outsider and grew to become the world’s biggest exporter by the end of it. Public investment was the theme for the 2010s. In 2010, high speed trains were close to non-existent in China, yet today China owns two-thirds of the world’s high-speed railways by length. In an analysis, Deutsche Bank’s ...

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Tanker Market Closing in On New Decade with Much to Look Forward to

The tanker market had an eventful quarter, with VLCCs in particular taking full advantage of the trade war aftermath. In its latest weekly report, shipbroker Intermodal noted that “pacing towards the end of the year there are much to discuss on how the crude markets performed on the last quarter. HFO prices are mostly flat on popular bunkering locations with VLSFO/MGO being on the spotlight. Last quarter proved to be quite fruitful for crude tanker owners through all ship sizes, VLCC’S quadrupled their TCE’S and THE rest of the sizes ...

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LNG Proves Compelling For VLCCs

SEA\LNG has released the results of its third investment study, which underlines liquefied natural gas (LNG) as a compelling investment solution for Very Large Crude Carriers (VLCCs) on the Arabian Gulf to China trade route. Conducted by independent simulation and analytics expert Opsiana, the study demonstrates clear benefits of LNG as a marine fuel for a newbuild 300K DWT VLCC on the Arabian Gulf to China trade route, in comparison with other alternatives currently available and scalable to the shipping industry across three fuel pricing scenarios. The business case compares ...

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Exclusive shipping industry roundtable by PwC Greece to raise awareness on the importance of cybersecurity in the shipping industry

PwC Greece addressed the crucial issue of cybersecurity for the shipping industry by organising in November, an exclusive roundtable amongst COOs, CIOs and Internal Auditors of shipping companies. The roundtable offered the opportunity for PwC to raise awareness on the challenges shipping companies face with regards to cybersecurity, enhance PwC’s support to shipping professionals in their primary role of protecting their companies from cyberattacks and identify ways to raise the level of importance to the Shipowners and Boards of Directors. It was also an opportunity to have shipping professionals express ...

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Demolition Market Picks Up at Last

Even if it’s been long overdue, finally the ships’ demolition market picked up over the course of the past couple of weeks. In its latest weekly report, GMS, the world’s leading cash buyer said that “the final month of the year has provided some much needed respite and emerging positivity to an industry that has witnessed its fair share of crises and declines this year. Over USD 100/LDT has been lost on vessel prices at the lowest points seen this year and thankfully, December has finally seen some optimism surface ...

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Shipping to face the sulphur shakeup

Shipping industry facing the realities The first of January is fast approaching and with that comes the implementation of the long-awaited IMO sulphur shipping regulations, which will see the global shipping fleet having to move from burning fuel oil with a sulphur limit of 3.5% to just 0.5%. The industry has had years to prepare for this, however, and those preparations were slow to start. Many thought or hoped these regulations would be delayed. As we approach the end of the year, the industry has accepted that this really is ...

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Shipping number of the week: 1.9 million tonnes – net seaborne US crude oil exports set record

October was the first month in which the US exported more crude oil by sea than it imported, with exports reaching a new record of 12.95 million tonnes. Imports on the other hand, have fallen since the start of the year and totalled 11.1 million tonnes in October this year, compared to 16.9 million tonnes in October 2018. Overall, while growing exports are in themselves a good thing for the shipping industry, looking closer at the numbers in fact reveals some, albeit temporary, bad news. Exports have risen by 38 ...

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Dry Bulkers in Demand

Ship owners are closing their final deals of the year both in the newbuilding, but also in the S&P market, with bulkers in high demand. In its latest weekly report, shipbroker Banchero Costa said that “last week was rich of transactions in the dry bulk sector, especially for Handy and Supramax bulkers. Prices are slightly down from the previous done and more buyers are hunting for bargains before 2020 kicks off. The Ultramax “Ursula” 61,000 dwt built 2012 Imabari was sold to undisclosed for $16.8mln. A younger, but smaller Supramax ...

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Lithium Ion Batteries, a force to be reckoned with in vessel applications

Since the beginning of boat building; designers, builders, owners and crew have always sought to do more with less. Seeking efficiencies may reduce costs, make better use of space, provide more speed and meet regulatory requirements or socially accepted organisational norms. While developed in the early part of the 1900s, the use of lithium batteries did not see much in the way of commercial or consumer applications until the 1970s. Even then, marine applications haven’t gained traction until recently, just the past three to four years. Lithium batteries can be ...

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Copper concentrate sails smoothly amid Chilean unrest

Chile has been facing severe unrest for more than a month now, with a state of emergency declared in some parts of the country and curfew imposed in many regions. Although the country is slowly returning to normalcy after the National Congress of Chile agreed to reform the constitution, businesses have been badly affected across Chile. Chile is the largest exporter of copper concentrate, with most of its exports going to Asia. The trade employs smaller dry bulk vessels, mainly Supramaxes, on the long-haul route. The ongoing unrest in the ...

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Will 2020 Mark the Return of the Dry Bulk Market to Form?

With a couple of weeks still remaining for yet another year of a rollercoaster ride in the dry bulk market, analysts are pondering whether 2020 will be any better. In a recent report, Allied Shipbroking said that “the uncertainty witnessed this year in the iron ore trade has been extraordinary making for a very volatile freight market for the Capesize sector, which varied wildly from a low of US$3,460 to a high of US$38,014 in the year so far. However, the improvement being witnessed since Q3, has boosted overall perception ...

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Modelling the carbon-robust future

“Our fleet modelling shows big changes looming in the coming decades. The exact nature of some of these changes is uncertain. Ship owners need to future-proof their ships for whatever happens, which is why we keep improving our model to help them make vessel design decisions that stand the test of time,” says Øyvind Endresen, Environmental Consultant at DNV GL’s Environment Advisory section. “We introduced the concept of the carbon-robust ship in 2017, which in 2018 led to our Carbon-Robust Model in the Maritime Forecast to 2050. The model evaluates ...

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Preparations intensify as IMO 2020 global sulphur cap looms

With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measurement of sulphur content in the fuel. Under MARPOL Annex VI, it is a statutory requirement that a bunker delivery note (BDN) includes at least the stipulated information and declaration, and this must be provided by the supplier to the ship. With regard to the sulphur content, the supplier must state the actual sulphur content, rather than advising that the sulphur constitutes <X%. It is ...

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