Empty shipyard and suicides as...

Empty shipyard and suicides as ‘Hyundai Town’ grapples with grim future in Shipbuilding News 14/08/2018 When Lee Dong-hee came...

Empty shipyard and suicides as ‘Hyundai Town’ grapples with grim future
posted on: Aug 13, 2018

Single Turnover Sampling Identified as...

Single Turnover Sampling Identified as Most Accurate Methodology for Portable Ballast Water Sampling in International Shipping News 14/08/2018 Chelsea...

Single Turnover Sampling Identified as Most Accurate Methodology for Portable Ballast Water Sampling
posted on: Aug 13, 2018

Greek owners most likely to...

Greek owners most likely to be affected by US Sanctions on Iran in Hellenic Shipping News,International Shipping News 14/08/2018...

Greek owners most likely to be affected by US Sanctions on Iran
posted on: Aug 13, 2018

Investigators Examine Tanker Suspected in...

Investigators Examine Tanker Suspected in Hit-and-Run The Desh Shakti (file image) Officials at the port of Mangalore, India are...

Investigators Examine Tanker Suspected in Hit-and-Run
posted on: Aug 13, 2018
Lightering Set to Begin for SSL Kolkata

Lightering Set to Begin for SSL Kolkata

posted on: Aug 12, 2018

Lightering Set to Begin for SSL Kolkata SSL Kolkata burns, June 2018 (Indian Coast Guard) On Thursday, salvors began preparations to lighter 200 tonnes of fuel off the grounded container ship SSL Kolkata, which caught fire and went adrift on June 13. The Kolkata has been aground off the Sundarbans, an environmentally sensitive mangrove forest on the India-Bangladesh border, for more than one month. The salvage vessel Smit Borneo has arrived on scene to conduct lightering efforts, and salvors intend to begin fuel removal on Friday. The Borneo transited from Singapore to reach the site, a 20-day voyage, and poor weather in the Bay of Bengal has led to further delays. A spokesman for the salvage effort told The Telegraph India that winds were up to 40 knots during a recent monsoon-season depression, raising large waves and rendering operations difficult. The 1,100 TEU Kolkata caught on fire at 2215...

NTSB: Known Hull Leak Led to Sinking

NTSB: Known Hull Leak Led to Sinking

posted on: Aug 12, 2018

NTSB: Known Hull Leak Led to Sinking The Lady Damaris going under (NTSB) In a report issued Thursday, the National Transportation Safety Board determined that the sinking of the fishing vessel Lady Damaris probably had a straightforward cause: an unrepaired leak in the hull, which was known to her crew two weeks before the accident. On June 8, the Damaris left her home port of Brownsville, Texas to trawl for shrimp off Louisiana, and she brought in 6,000 pounds of catch between June 10-18. Throughout the voyage she was taking on a small amount of water in her engine room, and the crew had to pump out about once every 48 hours. The four crewmembers didn’t identify the source of the leak. On June 19, 2017, the master of the Damaris sought to ride out the named tropical storm Cindy at anchorage off Port Fourchon, Louisiana. However, the Damaris’ anchor line...

U.S. soybean cargo docks in Chinese port after weeks at anchor amid trade row

U.S. soybean cargo docks in Chinese port after weeks at anchor amid trade row...

posted on: Aug 12, 2018

U.S. soybean cargo docks in Chinese port after weeks at anchor amid trade row in Freight News 13/08/2018 A ship carrying soybeans from the United States docked in the port of Dalian on Saturday, more than a month after it arrived off China’s coast just as hefty tariffs were imposed on U.S. goods, according to Thomson Reuters Eikon shipping data. The short journey into the northern Chinese port was the first by Peak Pegasus, which has 70,000 tonnes of U.S. soybeans on board, since it arrived off the coast on July 6 shortly after Beijing imposed 25 percent import duties on $34 billion worth of U.S. goods, including soybeans. The penalties were in response to a similar move by Washington as part of a tit-for-tat trade dispute between the world’s two largest economies. The ship was moored in the port area just after midnight on Sunday morning, according to...

Weekly Vessel Valuations Report, August 07 2018

Weekly Vessel Valuations Report, August 07 2018...

posted on: Aug 12, 2018

Weekly Vessel Valuations Report, August 07 2018 in Weekly Vessel Valuations Report 07/08/2018 Tankers: Tanker Values have softened slightly with the exception of modern VLCCs which have remained stable. The coiled VLCC Sea Latitude (309,300 DWT, Dec 2001, Hyundai HI) was bought by Ocean Tankers for USD 22.5 mil, VV Value USD 18.67 mil. LR2 Sigma Integrity (105,300 DWT, Feb 2009, Hyundai HI) was bought by Latsco shipping for USD 20.5 mil, VV Value USD 20.7 mil. Bulkers: All modern tonnage has remained stable whilst older Supramax and Handy values have firmed. Panamax Alkyon (74,900 DWT, Jun 2001, Hitachi) sold for USD 9.7 mil, VV value USD 9.47 mil. Supramax Bulk Neptune (55,700 DWT, Apr 2009, Mitsui Tamano) sold for USD 15 mil, VV value USD 15.01 mil. Supramax Tschaikowsky (58,800 DWT, Nov 2008, Tsuneishi) sold to AO Schifffahrt for USD 14.2 mil, VV value USD 14.64 mil. Containers:...

Scrap that: China’s metal recyclers rush to divert or sell U.S. cargoes as tariffs loom

Scrap that: China’s metal recyclers rush to divert or sell U.S. cargoes as tariffs loom...

posted on: Aug 12, 2018

Scrap that: China’s metal recyclers rush to divert or sell U.S. cargoes as tariffs loom in Commodity News 13/08/2018 Chinese copper fabricators and importers are scrambling to divert or resell cargoes of U.S. copper scrap en route to China after Beijing hit such imports with a 25-percent duty as the trade row with Washington deepens, sources said. U.S. scrap metal, waste paper and plastics cargoes arriving in China from Aug. 23 will incur the new levy after China announced on Wednesday its final list of tariffs on $16 billion of U.S. goods. Scrap was not on a draft list released in June. In the first quarter there were almost 2,200 cargoes of copper scrap per month sent to China from the United States, according to Reuters’ calculations based on customs data. The average cargo of scrap copper sent to China is about 20 tonnes. With less than two weeks...

Dry Bulkers: Second-Hand Tonnage Primed for Taking

Dry Bulkers: Second-Hand Tonnage Primed for Taking...

posted on: Aug 12, 2018

Dry Bulkers: Second-Hand Tonnage Primed for Taking in Dry Bulk Market,Hellenic Shipping News 13/08/2018 As the activity in the S&P market has subsided on account of the summer lull, it’s a perfect time for ship owners to contemplate on future deals and plan ahead. In a recent report, shipbroker Intermodal said that “the dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to the dry bulk rates, which were stable and sometimes softening along with a considerable decrease of the volume on SnP transactions”. According to Intermodal’s, Giannis Andritsopoulos, SnP Broker, “the Handy market was soft and there were no positive signs, due to the fact that asset prices were at low levels until the Easter holidays. Following Easter, we saw that values started to increase from that time until Posidonia with aggressive buyers being...

Investigation Fails to Pinpoint Cause of Sewol Ferry Sinking

Investigation Fails to Pinpoint Cause of Sewol Ferry Sinking...

posted on: Aug 10, 2018

Investigation Fails to Pinpoint Cause of Sewol Ferry Sinking August 9, 2018 by gCaptain A picture of the Sewol capsizing, taken by the Korea Coast Guard on April 16, 2014. The cause of one the worst maritime disasters in South Korea’s history is likely to remain a mystery. This week, an eight-member panel appointed by the South Korean government to investigate the 2014 capsizing and sinking of the Sewol ferry released its findings from the investigation, failing to pinpoint an exact cause. Instead, the panel concluded that the sinking could have been due to problems with the ship, such as a sudden turn, excessive cargo load, or stability or buoyancy issues created by substandard refurbishing, or external factors, such as collision with a submarine or other unknown objects, Yonhap News reported. Investigators have said previously that the ferry was structurally unsound, overloaded and traveling too fast on a turn when it capsized...

Despite Tariffs, U.S. Soy Is Still Headed to China. Here’s Why

Despite Tariffs, U.S. Soy Is Still Headed to China. Here’s Why...

posted on: Aug 10, 2018

Despite Tariffs, U.S. Soy Is Still Headed to China. Here’s Why August 9, 2018 by Bloomberg   OVKNHR / Shutterstock By Shruti Date Singh and Tatiana Freitas (Bloomberg) –It looks like China can’t completely shun U.S. soybeans as at least a few cargoes of American supplies head to its shores. The crop has been thrust into the center of trade war between the two nations. China slapped retaliatory tariffs of 25 percent on American shipments, sending buyers from the Asian country rushing to Brazil for supplies. But even though the South American country is the world’s largest exporter, it’s still unlikely to meet China’s voracious appetite alone. Brazil’s supplies will start to tighten by October, after months of record shipments. That’s also just about the time that U.S. crop gathering is under full swing. With no other growers really exporting enough to satisfy China’s demand, the nation will likely either buy...

Maersk, IBM Say 94 Organizations Have Joined Blockchain Trade Platform

Maersk, IBM Say 94 Organizations Have Joined Blockchain Trade Platform...

posted on: Aug 10, 2018

Maersk, IBM Say 94 Organizations Have Joined Blockchain Trade Platform August 9, 2018 by Reuters Nightman1965 / Shutterstock COPENHAGEN, Aug 9 (Reuters) – Shipping group Maersk said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping. The industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Under its new strategy, which includes the creation of an industry-wide blockchain-based trading platform, Maersk aims to expand its transport and logistics business in areas such as freight forwarding and trade finance. It wants to provide end-to-end solutions for customers rather than just shipping a container from port to port. Success of the platform depends on whether Maersk and IBM can convince industry players to sign up. Port operators in...

Italy Uncovers Massive Load of Hash in Ship’s Fuel Tanks

Italy Uncovers Massive Load of Hash in Ship’s Fuel Tanks...

posted on: Aug 9, 2018

Italy Uncovers Massive Load of Hash in Ship’s Fuel Tanks August 9, 2018 by Reuters Italian authorities raid the Panamanian-flagged Remus off the coast of Palermo, Italy. Photo: Guardia di Finanza ROME, Aug 9 (Reuters) – Italian police said on Thursday they found 20 tonnes of hash worth as much as 200 million euros ($232 million) in the fuel tanks of a Panama-flagged ship that was stopped in international waters and escorted to Sicily. The entire 11-person crew, all from Montenegro, was arrested for international drugs trafficking, Italy’s finance police said in a statement. The research and survey vessel Remus left the Canary Islands bound for Egypt and Turkey, but police surveillance showed it had turned off its position transmitter near the coast of North Africa, raising investigators’ suspicions. With the permission of Panamanian authorities, Italian finance police seized the vessel in international waters on July 31 and escorted it to...

Scrubber surge ‘insufficient’ to handle post-2020 HSFO surplus

Scrubber surge ‘insufficient’ to handle post-2020 HSFO surplus...

posted on: Aug 9, 2018

Scrubber surge ‘insufficient’ to handle post-2020 HSFO surplus Mon 06 Aug 2018 by Jamey Bergman Marine Propulsion 842 vessels are listed in the report as having or planning to install scrubbers (image credit: Argus Media) Analysts say a recent surge in scrubber orders will not be enough to absorb the predicted surplus of high-sulphur residual fuel oil when IMO’s global cap on sulphur in fuel takes effect in 2020. Argus Media analysis of energy and shipping industry manufacturing sectors added to a growing body of evidence showing an uptick of scrubber orders in 2018, particularly in the tanker sector, but said order numbers were too small to have a significant impact on HSFO consumption post-2020. Shortages of scrubbers are possible post-2020 “Tankers, the second biggest category of residual bunker fuel consumers, saw an uptick in scrubber demand, especially for VLCCs, but the count remains small in the context of the global...

Three routes to detainment on PSC emissions inspection questionnaire

Three routes to detainment on PSC emissions inspection questionnaire...

posted on: Aug 9, 2018

Three routes to detainment on PSC emissions inspection questionnaire Fri 03 Aug 2018 by Jamey Bergman Three of the questions on the questionnaire could result in a vessel being detained Paris and Tokyo MOUs on Port State Control (PSC) have agreed a questionnaire for use by inspectors during an intensive campaign that will focus on MARPOL Annex VI compliance. Three of the questions on the questionnaire could result in a vessel being detained. If vessels are unable to provide bunker delivery notes that show delivery and use of fuels compliant with mandated sulphur levels and if ships do not have approved fuel cleaning equipment such as scrubbers installed, they could be detained, according to a joint statement from the Paris and Tokyo PSC authorities. Additionally, if a vessel’s master and crew cannot show familiarity with essential shipboard procedures in the approved volatile organic compound (VOC) management plan, the vessel...

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