Home / Tag Archives: Tops (page 6)

Tag Archives: Tops

“Green Ammonia Will Be Cheaper Than Fossil Fuels Eventually”, says Yara

The drive towards shipping’s decarbonization is well underway. At present there’s a growing number of potential alternative fuels and technologies to achieve the desired goals, each with each benefits and drawbacks, from costs to production availability, to developing the required infrastructure. Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), interviewed Yara’s President of Clean Ammonia, Mr. Magnus Ankarstrand. Yara is engaged along the entire value chain, from production through midstream supply and development of bunkering solutions, to make sure the supply is ready to meet the demand. Many transport and container shipping firms ...

Read More »

Navigating decarbonisation – contractual considerations

With mounting global efforts to combat climate change, the shipping and offshore sectors are subject to ever-increasing scrutiny and regulatory intervention. Reed Smith shipping partner Nick Austin and associate Eleni Pilaviou highlight the significant challenges of decarbonisation for shipowners and operators. To meet IMO’s target of reducing carbon emissions by at least 50% by 2050, the Energy Efficiency Existing Ship index (‘EEXI’, which effectively measures emissions per cargo ton mile) and the Carbon Intensity Indicator (‘CII’, a rating from A to E for operational carbon intensity) will need to be ...

Read More »

The complex and fascinating world of modern weather routing: A deep dive into StormGeo’s advanced weather routing services

Do you know the name of the first navigator who used “weather routing” on his voyage from Europe to faraway lands and back? It wasn’t Christopher Columbus, Vasco da Gama, Juan Sebastian Elcano, Walter Raleigh or any other famous name from the XV or XVI centuries. It was a much lesser-known figure. Antón de Alaminos, the pilot of another well-known discoverer, Juan Ponce de León, made the first roundtrip from Europe to the Americas, taking advantage of the winds and currents. On his way to the Americas, he followed, like ...

Read More »

Global Seaborne Coal Trade Declined By 4% in the First Four Months of 2022

With coal coming back into the foray as a major energy source, it’s worth taking a look at the state of major coal exporters and the seaborne market for coal in general. In its latest weekly report, shipbroker Banchero Costa said that “following a disastrous 2020, with the world hit by lockdowns and recession pretty much everywhere, global seaborne coal trade managed to rebound to some extent in 2021. In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 ...

Read More »

EU oil ban to rewrite tanker trade

An EU embargo targeting all seaborne imports of crude oil and petroleum products from Russia will disrupt tanker trade flows into the trade bloc by the end of the year. All 27 members of the EU agreed to a new sanctions package on Monday that included a seaborne trade ban and the removal of Sberbank from the SWIFT international payment system. Sberbank is Russia’s largest bank and is majority state-owned. However, pipeline supplies to the EU were omitted from the sanctions package. More than two-thirds of Russian oil imports to ...

Read More »

Emission trading schemes and international shipping

On a nation state level, governments can impose taxes on the sources of pollution at the point of production or sale, e.g. on petrol, with the aim that the taxes generated will cover the cost of dealing with the resulting pollution and incentivise reduced consumption. The difficulty in international shipping is that if just a few governments took this approach for bunker fuel, the buyers would likely adjust their arrangements so that they avoided bunkering at the taxed ports. For a sales tax on bunker fuel to be effective, governments ...

Read More »

Tankers: Replacing Russian Crude Oil Could Prove a Tricky Proposition

The tanker market is bound to face another round of shifts in trade flows, with EU’s seaborne imports of Russian oil, effectively banned henceforth. The increased ton-mile demand though, could prove to be beneficial for many tanker owners. In its latest weekly report, shipbroker Intermodal noted that “Russia is the world’s third largest oil producer after United States and Saudi Arabia and the second largest crude oil exporter, portraying its major role in the global oil market. As reported for January 2022 market share, Russia’s total oil production was more ...

Read More »

FBX Index: Balancing on the tip of a sword

As we are nearing the traditional peak season in container shipping, the key question is how supply, demand, freight rates and congestion will play out this year. The problem is that global economical and geopolitical forces have created an environment of extremely high uncertainty, with two different scenarios vying for the “honor” to be the baseline scenario. One is almost a repeat of the problems in 2021 and the other is a swift downwards slide in rate levels and the emergence of a rate war, especially in the Pacific. Looking ...

Read More »

Posidonia Week Is Back At Full Steam

The Posidonia International Shipping Exhibition will be held from June 6-10 at the Athens’ Metropolitan Exhibition Centre. 1,929 companies from 88 countries will exhibit their products and services during Posidonia next week. A total of 24 National Pavilions from Europe, North America and Asia have also confirmed their plans to showcase their maritime credentials during the event which is expected to be attended by more than 18,000 international visitors. A programme of 68 conferences and seminars will run in parallel to offer delegates access to insightful information and knowledge imparted ...

Read More »

Crude Oil Trade Could Be Hampered By Greek-Iranian Tensions Over Tankers’ Seizure

With Greece, the biggest single owner of tankers and Hormuz, one of the most important trade lanes for seaborne crude transportation, it’s easy to see why the recent seizure of two Greek-owned VLCCs, by the Iranian Revolutionary Guard, can start to have a ripple effect in tanker trade, until the matter is resolved. In its latest weekly report, shipbroker Allied said that “crude oil prices breached the US$ 120 a barrel once again, after close to a 3-month break, as global markets continue to feel the pressure mounting from the ...

Read More »

Greek Owners Retain Pole Position

As the shipping community prepares for a return to Posidonia after a four-year break, in this analysis (see below and attached) extracted from the Shipping Intelligence Weekly report, Steve Gordon, Global Head of Clarksons Research, tracks the development of the Greek fleet and the pivotal role it continues to play in international shipping. And while the past four years have seen crisis, operational challenges, dramatic market change and widespread disruption, with 16.4% of global tonnage on the water (by GT, 19% basis dwt), Greek owners retain their pre-eminent market position. ...

Read More »

Shipping Decarbonisation goal can be achieved with financial incentives like contracts for differences

Amongst the speakers were Jutta Paulus (MEP Group of the Greens/European Free Alliance), Bart Verboomen (DEME Group), Rasmus Bach Nielsen (Trafigura), Natalie Gupta (Yara Clean Ammonia) and Alex Clark (Oxford University), and Lau Blaxekjær (Global Maritime Forum). The event was moderated by Kasper Søgaard (Global Maritime Forum). MEP Jutta Paulus emphasised that the EU should take leadership to drive shipping’s decarbonisation: “This decade we have to take decisive action if we want to limit global warming to well below 2 degrees Celsius as agreed in Paris seven years ago. The ...

Read More »

Newbuilding Activity Could Soon Pick Up the Pace

The shipbuilding market could soon start to pick, as China’s major cities are emerging from the lockdowns of the previous weeks. In its latest weekly report, shipbroker Allied noted that “the newbuilding market may well be slowly on the verge of a shift , with the lockdown measures in Shanghai about to end this week and many predicting that this event may bring about an onset of intense NB activity. This coupled with the positive seasonal effect brought about every two years during the Posidonia exhibition in Greece, could see ...

Read More »

Dark activity & deceptive shipping trends – lessons learned from the Russia-Ukraine conflict

It is now hard to believe, but the beginning of 2022 offered hope… The world finally seemed to be emerging from the Covid-19 pandemic and the havoc it had wreaked on the global supply chain. The public and private sectors had mostly returned to “business as usual” and logistics companies were less concerned about global disruption. Little did we know that 2022 would offer more of the same (and perhaps even worse). The Omicron outbreak threatened further economic and supply chain setbacks, and then Russia decided on a full-scale invasion ...

Read More »

Xeneta: Shipping Costs Soar As Long-Term Rates Race 150% Up Year-On-Year

May saw the highest ever monthly increase in long-term contracted ocean freight rates, as the cost of locking in container shipments soared by 30.1%. The unprecedented hike, revealed in the latest Xeneta Shipping Index (XSI®) Public Indices for the contract market, means that long-term rates are now 150.6% up year-on-year. In 2022 alone, costs have climbed by 55%. “This is a staggering development,” comments Xeneta CEO Patrik Berglund. “Just last month we were looking at an 11% rise and questioning how such continued gains were possible. Now we see a ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping