Tanker Captain Killed in Pirate...

By The Maritime Executive | 02-25-2020 Puerto la Cruz, Venezuela, near Islas Barrachas (file image) [Brief] On Monday, armed robbers...

Tanker Captain Killed in Pirate Attack off Venezuela
posted on: Feb 26, 2020

Study: Seafarers Bear the Burden...

By The Maritime Executive | 02-25-2020 File image According to a new report by researchers at Cardiff University, the old...

Study: Seafarers Bear the Burden of Port Corruption
posted on: Feb 26, 2020

Coronavirus: Which countries have confirmed...

AlJazeera 23 February 2020 Coronavirus: Which countries have confirmed cases? Cases of the virus, which originated in the Chinese...

Coronavirus: Which countries have confirmed cases?
posted on: Feb 23, 2020

Effects on Shipping from the...

By Hellenic Shipping News | 22/02/2020 The effects from the Coronavirus have started to have a negative impact on...

Effects on Shipping from the Coronavirus Effect Far and Wide
posted on: Feb 23, 2020
Seafarers Facing Unprecedented Challenges Due To Coronavirus Outbreak

Seafarers Facing Unprecedented Challenges Due To Coronavirus Outbreak...

posted on: Feb 23, 2020

By International Shipping News | 22/02/2020 Ship managers and crew on the frontline of global trade are bravely coping with unprecedented challenges due to the coronavirus (COVID-19) outbreak in China. Shipping has been crippled by the spread of the virus over the last month which has seen large parts of the Chinese economy closed down for extended periods. This is having supply chain and business reverberations globally and has devastated shipping freight rates and cargo demand. However, the impact on those on the frontline of international business – the seafarers that man the ships that facilitate global trade – has largely been overlooked. Captain Rajesh Unni, CEO and Founder of Singapore-headquartered Synergy Group, one of the world’s leading ship managers, commented: “Seafarers are working under tremendous pressure and doing an amazing job keeping world trade moving. But many are, understandably, anxious about when they can see families again because...

Abandoned seafarers: Hungry, penniless and far from home

Abandoned seafarers: Hungry, penniless and far from home...

posted on: Feb 23, 2020

By Roz Tappenden | 21 February 2020 | BBC News Twitter | Image caption: These sailors who were stuck off the coast of Dubai urged India’s government to help When a ship bound for east Africa was detained in Portland off the south coast of England in November, its Russian crew feared they would be stranded indefinitely. They would have known of the fate that has befallen other seafarers in their situation – hundreds have been stuck on their vessels, some for years, when their ships’ owners have run out of money. Sailors who leave their ships in these circumstances risk never being being paid and so feel they have to stay put. With no income, dwindling supplies and no employer, those stuck in this predicament often rely on the kindness of strangers and the help of charities such as the Southampton-based organisation the Sailors’ Society. In 2017, 40...

BIMCO: Coronavirus Shows Shipping’s Dependence on Chinese Economy

BIMCO: Coronavirus Shows Shipping’s Dependence on Chinese Economy...

posted on: Feb 23, 2020

By The Maritime Executive | 02-22-2020 Port of Qingdao (file image) In a bulletin released Friday, shipping association BIMCO warned that the impact of the coronavirus epidemic in China is already serious, and it could worsen if stringent public health measures are sustained for an extended period.  The effects are already visible. Alphaliner has estimated that 1.7 million TEU of export capacity out of China has been canceled since late January, and anecdotal reports indicate that many of the remaining departures are sailing with less than a full load. Ships’ agencies and carriers have reported that trucking shortages are a serious factor, and BIMCO indicates that in some provinces, as much as two thirds of the driver workforce has not reported for duty.  BIMCO chief analyst Peter Sand laid out three likely scenarios for the impact of the epidemic on shipping. In the first, China’s control measures succeed, and...

10 Reasons Why Maritime SUCKS (NEED TO KNOW Before Joining Merchant Marine) – YouTube

10 Reasons Why Maritime SUCKS (NEED TO KNOW Before Joining Merchant Marine) – YouTube...

posted on: Feb 21, 2020

10 Reasons Why Maritime SUCKS (NEED TO KNOW Before Joining Merchant Marine) – YouTube Published on Feb 20, 2017 A smooth sea never made a skillful sailor. Working at sea is not easy. In this blog I talk about some of the harsh reality and difficulties that sailors encounter. Is it really all about that good salary? Wonderful new sights? Adventurous...

Slump in Global Goods Trade to Deepen With Coronavirus, WTO Says

Slump in Global Goods Trade to Deepen With Coronavirus, WTO Says...

posted on: Feb 19, 2020

By Bloomberg | February 18, 2020 Workers wearing face masks rope a container ship at a port in Qingdao, Shandong province, China February 11, 2020. Picture taken February 11, 2020. China Daily via REUTERS By Brendan Murray (Bloomberg) — Global trade in goods will likely stay weak in coming months as disruptions from coronavirus in China staunch the movement of international commerce already slowed by tariffs and uncertainty, according to the World Trade Organization. The Geneva-based body’s latest forward-looking Goods Trade Barometer stood at 95.5, compared with a level of 96.6 in November. Readings of 100 indicate growth over the next quarter in line with medium-term trends, while those higher or lower than 100 point to growth above or below the recent trend. “The slow start could be be dampened further by global health threats and other recent developments in the first few months of the year, which are not yet accounted...

RMI investigation: Cadet’s death in enclosed space associated with failure to identify hazard

RMI investigation: Cadet’s death in enclosed space associated with failure to identify hazard...

posted on: Feb 19, 2020

Casualties | 17/02/20 A Deck Cadet lost his life in an enclosed space onboard the RMI-registered bulk carrier LA DONNA I, in August 2018. The Republic of the Marshall Islands issued its investigation report on the accident, identifying lack of familiarity with procedures as contributing factor to the fatality. The incident The Republic of the Marshall Islands-registered bulk carrier LA DONNA I, managed by FML Ship Management Ltd., arrived in the Port of Paradip, India on 12 August 2018 to discharge a cargo of 61,557 metric tons (MT) of coal. At approximately 17301 on 14 August 2018, during cargo discharge operations, the Deck Cadet was reported to have been incapacitated due to oxygen deficient conditions in the enclosed Australian ladder trunk of Cargo Hold No. 6. In response to the incident, the Chief Officer (C/O) entered the space to assist the Deck Cadet and subsequently lost consciousness. The Deck...

Europe’s Busiest Port Reports Flat Throughput in 2019

Europe’s Busiest Port Reports Flat Throughput in 2019...

posted on: Feb 19, 2020

By Mike Schuler | February 18, 2020 Photo courtesy Port of Rotterdam Authority Throughput at the Port of Rotterdam remained flat in 2019 amid “significant underlying shifts” in the various commodity sectors served by the Europe’s busiest port. The Port of Rotterdam Authority last week reported freight throughput of 469.4 million tonnes in 2019, only fractionally higher than the 469 million tonnes reported in 2018. While sectors such as crude oil, container, LNG and biomass throughputs increased, coal and mineral oil product throughputs decreased. Container volumes hit 14.8 million TEUs for a 2.1% increase compared to 2018. Liquid Bulk Throughput of liquid bulk in reached 211.2 million tonnes in 2019, almost the same as the 211.8 million tonnes in 2018.  Within this segment, crude oil throughput exceeded 100 million tonnes for the fifth consecutive year and increased by 3.9%. Meanwhile, the throughput of mineral oil products fell as a...

Abandoned ‘Ghost Ship’ Washes Ashore in Ireland

Abandoned ‘Ghost Ship’ Washes Ashore in Ireland...

posted on: Feb 19, 2020

by Mike Schuler | February 18, 2020 M/V Alta aground in Ballycotton, Cork, Ireland, Sunday, February 16, 2020. Image courtesy Irish Coast Guard An abandoned cargo ship has washed up in Ireland after more than a year adrift in the North Atlantic.  The M/V Alta first made made headlines in October 2018 when the U.S. Coast Guard rescued its 10 crew members approximately 1,380 miles from Bermuda, leaving the ship abandoned about twenty days after it became disabled during a voyage from Greece to Haiti.  The vessel was again spotted in September 2019 by the Royal Navy’s HMS Protector as it sailed towards the Bahamas to assist with Hurricane Dorian relief efforts.  Its fate remained a mystery.  That is, until Sunday when it washed up on along the coast Ballycotton, Cork during Storm Dennis. Rescue 117 was tasked earlier today to a vessel aground near Ballycotton, Cork. There was...

Global Trade Turmoil as Ships Skip China

Global Trade Turmoil as Ships Skip China

posted on: Feb 19, 2020

By Bloomberg | February 16, 2020 A foreman wearing a face mask works as a cargo ship docks at a container terminal of Qingdao port in Shandong province, China while the country is hit by an outbreak of the new coronavirus, February 4, 2020. cnsphoto via REUTERS By Alex Longley (Bloomberg) — February 2020 will come to be remembered as a period of historic disruption to physical supply chains the world over, as the coronavirus wrecks trade. Dozens of export sailings to ship China-made goods to consumers from the U.S. to Europe — think handbags, flat-screen TVs, and plastic toys — have been canned since the coronavirus crisis escalated last month. Those non-shipments are part of a much bigger picture in which every aspect of global shipping — from oil and gas through to dry-bulk commodities — has been upended. The unprecedented gyrations caused by the virus matter because 90% of...

Big Oil Warned Trump Team China Trade Deal Was Unrealistic

Big Oil Warned Trump Team China Trade Deal Was Unrealistic...

posted on: Feb 19, 2020

by Bloomberg | February 14, 2020 File Photo: The LNG carrier Hoegh Galleon at Cheniere’sCorpus Christi Liquefaction. (Photo: Business Wire) By Jennifer A. Dlouhy, Shawn Donnan and Nick Wadhams (Bloomberg) – Industry leaders privately warned the Trump administration that the U.S. will struggle to deliver the oil, gas and other energy products that China has committed to buy in a new trade deal, raising additional questions about one of the president’s signature economic achievements. The “phase one” deal signed by President Donald Trump on Jan. 15 calls for China to purchase an additional $52.4 billion in liquefied natural gas, crude oil, refined products and coal over the next two years. To do that, China would have to import an additional 1 million barrels per day of crude oil, 500,000 barrels per day of refined products and 100 tankers full of liquefied natural gas, the American Petroleum Institute cautioned last month...

Bouchard Ordered to Move Vessels to Safe Berth Over Safety Issues

Bouchard Ordered to Move Vessels to Safe Berth Over Safety Issues...

posted on: Feb 19, 2020

by Mike Schuler | February 14, 2020 Photo: MarineTraffic.com / Josh Karp The U.S. Coast Guard Captain of the Port of New York and New Jersey has issued an order to New York-based Bouchard Transportation Company requiring that three tug and fuel barge units currently anchored in New York Harbor immediately be moved out of anchorage and moored at a safe berth. The vessel’s will be required to remain at safe berth until undergoing additional safety inspections to determine they are fit to return to service, the Coast Guard said. “As a result of recent safety checks, the Coast Guard has determined the operational condition of these vessels poses a risk to the safety of New York and New Jersey waterways,” the Coast Guard said in a statement. “Specifically, Bouchard has been unable to consistently maintain safe fuel and manning levels aboard these vessels, and does not have adequate contingencies in place for emergency weather or other conditions requiring movement within...

Is the free market free?

Is the free market free?

posted on: Feb 18, 2020

By Syed Mohammad Shahadatul Islam | February 18th, 2020 Is a lack of regulation conducive to economic growth? A certain level of regulation can be healthy for the economy What is a free market economy? Usually, it is supposed to be an economy that is free from of any kind of intervention or regulation by any authority.  In economics language, however, free market economy is a concept where the allocation of resources, the level of production, and the prices are determined by the principles of supply and demand.  The point at which the level of demand meets the level of supply is called the equilibrium price. Necessarily, scholars contrast the concept of free market economy with the concept of political economy, new institutional economies, economic sociology, and political science. Now, according to the facts about free market economy, an economy that is regulated in any way by any authority...

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