India’s major ports’ cargo traffic...

India’s major ports’ cargo traffic share hits 58%: Report in Port News 23/06/2018 The share of country’s cargo traffic...

India’s major ports’ cargo traffic share hits 58%: Report
posted on: Jun 23, 2018

European Shipowners encourage the European...

European Shipowners encourage the European Commission to have sufficient recycling capacity on the EU approved ship recycling yards list...

European Shipowners encourage the European Commission to have sufficient recycling capacity on the EU approved ship recycling yards list
posted on: Jun 23, 2018

IRI Posidonia 2018...

IRI Posidonia 2018 in Hellenic Shipping News 23/06/2018 The Marshall Islands Registry’s celebration at Posidonia in Athens was a...

IRI Posidonia 2018
posted on: Jun 23, 2018

Can the holder of a...

Can the holder of a bill of lading claim damages for losses sustained by someone else? in Marine Insurance...

Can the holder of a bill of lading claim damages for losses sustained by someone else?
posted on: Jun 23, 2018
Global Economy and Trade Tensions Are Bound to Find their Way Into Shipping as Well

Global Economy and Trade Tensions Are Bound to Find their Way Into Shipping as Well...

posted on: Jun 23, 2018

Global Economy and Trade Tensions Are Bound to Find their Way Into Shipping as Well in Hellenic Shipping News 23/06/2018 Just as the shipping industry was looking for signs of further trade growth rebound and was hoping for an improvement over the initially modest predictions for the 2018-2019 pace of rate increase, reality kicked in, in the form of renewed trade tensions around the world. In its latest weekly report, shipbroker Allied Shipbroking commented that “market worries resurfaced amidst increasing trade tensions between the world’s two largest economies. It seems as though we are back where we were in March, as Washington DC and Beijing find themselves back in the trenches, digging in their positions ever deeper as neither side looks willing to back down. The reaction by markets was quick. Agricultural commodities already started to reflect the pinch last week, with soyabeans taking the lead with a 6.7...

Uncertain outlook for container shipping

Uncertain outlook for container shipping

posted on: Jun 22, 2018

Uncertain outlook for container shipping Study says physical infrastructure of container shipping is unlikely to change. By Chris Dupin |Thursday, June 21, 2018     A study published this month by the insurer T.T. Club and consulting firm McKinsey says the outlook for container shipping over the next 25 years is extremely uncertain. “The outlook for the ‘demand side’ of the industry is ambiguous. A few trends point to faster growth, but other trends point to a slowdown. And one’s point of view on the question can be easily shaped by the evidence considered,” say the authors of Brave new world? — What industry leaders really think the future holds for container transport. The report does come to five broad conclusions: • The physical infrastructure of container shipping is unlikely to change — the container and the ships will continue to exist and “won’t be displaced by ‘sci-fi’ concepts like...

Wilhelmsen Ship Management expands global presence with new office in UK

Wilhelmsen Ship Management expands global presence with new office in UK...

posted on: Jun 22, 2018

Wilhelmsen Ship Management expands global presence with new office in UK in International Shipping News 22/06/2018 Southampton location opens for business. Wilhelmsen Ship Management (WSM) adds another ship management office in Southampton, England, to increase their global footprint in the region. “Southampton is a city with one of the longest histories in the maritime industry. It has an established maritime cluster of infrastructure and human resources that we can tap into immediately to support growth,” said Carl Schou, President of WSM. “Expanding into the United Kingdom (UK) was a natural progress and another indicator of the global momentum we are building in ship management.” L-R: Haakon Lenz and Carl Schou WSM’s Southampton office has an initial staff of five and 11 vessels in management for now. “With a local presence in the UK, we look forward to strengthening our position in the UK tonnage fleet both flagged and owned....

Weekly Vessel Valuations Report, June 19 2018

Weekly Vessel Valuations Report, June 19 2018

posted on: Jun 22, 2018

Weekly Vessel Valuations Report, June 19 2018 in Weekly Vessel Valuations Report 19/06/2018 Tankers: Older Aframax and LR1 tonnage has softened. Sentosa River (115,100 DWT, Oct 2008, Sasebo) sold to Bergshav AS for USD 19.5 mil, VV value USD 20.3 mil. Krasnodar (115,600 DWT, Aug 2003, Hyundai HI) sold for USD 9.3 mil, VV value USD 10.63 mil to Horizon Tankers. MR1 (chem/product) (35,800 DWT, May 2001, Daedong) sold for USD 6.2 mil, VV value USD 6.22 mil. Bulkers: Capesize and Supramax values have firmed this week Red Cherry (182,400 DWT, Jan 2015, Japan Maritime) sold for USD 45 mil, inc 9 months charter at 18,000pd. Supramax Pollux Star (58,700 DWT, Feb 2012, Tsuneishi Cebu) sold for USD 17.5 mil, VV value USD 16.74 mil. Handysize King Wheat (33,400 DWT, Jun 2009, Shin Kochi) sold for USD 12 mil to Van Weelde Shipping, VV value USD 11.76 mil Sider...

Demolition Market Quiets Down

Demolition Market Quiets Down

posted on: Jun 22, 2018

Demolition Market Quiets Down in Hellenic Shipping News 22/06/2018 While much has been discussed on the record-breaking year of tanker demolitions, the market is about to enter into a relatively calm period. In its latest weekly report, shipbroker Clarkson Platou Hellas commented that “with Ramadan now having finished and Eid commencing, a quiet period is anticipated into the beginning of this week but we do hope some resurgence will start to return once all local markets re-open after the holiday period and then we shall see if Owners look to capitalise on the current prices on offer for certain units. Some of the recent high transactions are down to the lack of tonnage in the market which naturally attracts more interest, but also each individual sale has had specific factors inflating the purchase price,[…]. We will not know the true market sentiment until possibly next week, once the Eid...

Vietnamese Ship Runs Aground in Philippines, Damages Artificial Reefs  – See more at: http://juldians.org/2018/06/7320/

Vietnamese Ship Runs Aground in Philippines, Damages Artificial Reefs – See more at: http://juldians.org/2018/06/7320/...

posted on: Jun 21, 2018

Vietnamese Ship Runs Aground in Philippines, Damages Artificial Reefs By Jeoffrey Maitem on Jun 20, 2018 A Vietnamese cargo ship has run aground off Sarangani Bay in the southern Philippines, damaging more than 200 artificial reefs that were built more than 10 years ago by environmental conservationists, authorities said Wednesday. The ship, the HTK Energy, was carrying a cargo of rice when it hit the artificial reefs just off the coast along the bay on Monday, said Omar Saikol, assistant superintendent of the Sarangani Bay Protected Seascape, a government body tasked with protecting the local marine environment. The damaged reefs served as a habitat for various fish species, Saikol said, adding that authorities had arranged for divers to check the extent of the destruction. “There is an ongoing investigation. We’re getting video footage of the damage to facilitate the proper assessment and imposition of possible penalties or fines,” he...

French farmers block oil refineries, petrol stations in palm oil protests

French farmers block oil refineries, petrol stations in palm oil protests...

posted on: Jun 21, 2018

French farmers block oil refineries, petrol stations in palm oil protests June 14, 2018 Farmers have blocked several refineries and depots of French oil and gas giant Total in protest over its planned use of imported palm oil as a feedstock for its new La Mede biofuel refinery. Using truckloads of onions, wood and rubble, the farmers on 10 June blocked the depots and refineries as a part of three days of protests, reported Reuters on the day. The farmers, who grow crops such as rapeseed which is also used for biodiesel, are concerned that allowing cheaper palm oil imports for biodiesel would result in unfair competition and work against biofuels’ environmental goals. France’s largest farm union National Federation of Agricultural Holders’ Unions (FNSEA) said that by the afternoon of 11 June, a total of 16 sites had been blocked, Reuters wrote. Among the blocked facilities were Total’s Gonfreville...

China imposes 25% tariff on US soya

China imposes 25% tariff on US soya

posted on: Jun 21, 2018

China imposes 25% tariff on US soya June 18, 2018 China will impose a 25% tariff on 545 US products – including soyabeans – on 6 July in retaliation to a similar import tax hike by the US government, spurring fears of a global trade war. The tariffs on US$34bn worth of goods also covers products such as corn, wheat, beef, pork, poultry, electric cars, orange juice, whiskey, lobsters, salmon and cigars, reported The Globe and Mail on 15 June. The move came after the Trump administration announced a similar tariff hike on 15 June on US$34bn worth of Chinese good, set to come into effect on the same day as its Chinese counterpart. The USA was also considering a further US$16bn worth of tariffs on other products. China’s increased taxes on agricultural and food products would have the biggest impact on US rural areas, which were staunch Trump...

Virtual consolidation: how digitalisation eases the pain when tanker companies merge

Virtual consolidation: how digitalisation eases the pain when tanker companies merge...

posted on: Jun 21, 2018

Virtual consolidation: how digitalisation eases the pain when tanker companies merge Tue 19 Jun 2018 by Craig Jallal, tankers and markets editor The expansion of digitalisation in shipping could offer another way to consolidate without loss of ownership or brand In the April/May issue of Tanker Shipping and Trade, I reported on the 12th Annual Capital Link International Shipping & Offshore Forum during which Robert Bugbee, (president, Scorpio Tankers), a group that has undergone its fair share of mergers and acquisitions, made a remark that set me thinking about the possible leverage digitalisation offers to shipping. Mr Bugbee said, “You need a certain critical mass to [gather market] information and win charters.” He also warned that the MR2 market is more consolidated than it appears, as a number of companies that operate MR2s also run pools. The inference is that this gives them crucial assess to market data, more so than...

Speculators creates waves in the Asian bulk carrier market

Speculators creates waves in the Asian bulk carrier market...

posted on: Jun 21, 2018

Speculators creates waves in the Asian bulk carrier market Despite the global economic recovery that is keeping shipping demand high in Asia, charter rates for large bulk carriers have been fluctuating wildly, driven by investors trading contracts for future carrier charter rates, or freight futures. Similar to what is happening in the commodities markets, investor money is dictating the shipping market for iron ore, coal and other resources. “It is rare that prices fluctuate so rapidly,” said a ship broker. Price movements in the futures are also causing spot prices for shipping to move erratically. Charter rates for carriers have been on a roller coaster ride since April. Rates for benchmark capesize vessels with a capacity of about 180,000 tons on key routes averaged $7,050 a day on April 5. They nearly tripled to $20,810 on May 14 then fell sharply to $10,583 on May 30. The global economy...

Grounded Tanker Breaks Up off Kaohsiung

Grounded Tanker Breaks Up off Kaohsiung

posted on: Jun 21, 2018

Grounded Tanker Breaks Up off Kaohsiung All images courtesy Taiwan Maritime and Port Bureau The product tanker Shine Luck, which grounded off Kaohsiung, Taiwan during a storm last week, has broken up. The 5,000 dwt Shine Luck and a second tanker, the Winner 19, both went aground south of Kaohsiung’s commercial seaport on Thursday after strong winds sent them drifting towards shore. The Luck grounded on a hard concrete breakwater about 400 yards from Kaohsiung’s Fengbitou fishing terminal, and the Winner grounded on a sandy beach about one nm further to the south. All 32 crewmembers from both vessels were safely rescued. Video from the scene showed waves rocking the Shine Luck against a tetrapod revetment parallel to a seawall. Despite the efforts of salvage crews to stabilize her, she broke up on Monday morning. Salvors managed to offload about 32,000 gallons of fuel oil from her tanks before her condition deteriorated. Shortly after she broke up,...

Paris MoU Releases 2017 “White, Grey and Black” List: United States Falls to Grey as Korea, Poland Move to White

Paris MoU Releases 2017 “White, Grey and Black” List: United States Falls to Grey as Korea, Poland Move to White...

posted on: Jun 21, 2018

Paris MoU Releases 2017 “White, Grey and Black” List: United States Falls to Grey as Korea, Poland Move to White June 19, 2018 by gCaptain By Igor Grochev / Shutterstock The Paris MoU has approved its 2017 port state control inspection results for 2017 and adopted its new “White, Grey, and Black” performance lists for flag states and Recognized Organizations (ROs). The Paris MoU’s annual “White, Grey and Black (WGB) List” ranks flag states from best to worst, from flags with a high performance (White) to flags with poor performance that are considered high or very high risk (Black). The List is based on the total number of inspections and detentions over a 3-year rolling period for flags with at least 30 inspections in the period. The new “White, Grey and Black List” for 2017 is to take effect from 1 July 2018, at which point it is used to calculate...

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