Shipping’s Half Year Report –...

Shipping’s Half Year Report – Extra Classes Needed? in International Shipping News 12/07/2018 With the industry hoping for better...

Shipping’s Half Year Report – Extra Classes Needed?
posted on: Jul 12, 2018

Demolition Activity Slows Down On...

Demolition Activity Slows Down On Monsoon Rains in Hellenic Shipping News 12/07/2018 The ships’ demolition activity has began to...

Demolition Activity Slows Down On Monsoon Rains
posted on: Jul 12, 2018

Sick Bangladeshi seaman airlifted from...

July 11, 2018 Sick Bangladeshi seaman airlifted from a vessel while in transit in the Thai waters Facebook report...

Sick Bangladeshi seaman airlifted from a vessel while in transit in the Thai waters
posted on: Jul 12, 2018

Hapag-Lloyd CEO says sees no...

Hapag-Lloyd CEO says sees no big shipping mergers at moment in International Shipping News 11/07/2018 The chief executive of...

Hapag-Lloyd CEO says sees no big shipping mergers at moment
posted on: Jul 11, 2018
Newbuilding Orders A Divisive Issue at the Moment

Newbuilding Orders A Divisive Issue at the Moment...

posted on: Jul 11, 2018

Newbuilding Orders A Divisive Issue at the Moment in Hellenic Shipping News 11/07/2018 The choice to place an order for a newbuilding vessel, dry bulker or tanker, is dividing opinions at the moment, as ship owners appear to be unable to agree on the shipping markets’ future potential, especially at the current ships’ prices offered by yards. As a result, ordering activity is on a rollercoaster ride in the past few weeks, with high intensity weeks followed by scarcer activity. In its latest weekly report, shipbroker Allied Shipbroking said that it was “a quiet week for the newbuilding market in terms of dry bulkers was observed last week, despite the improved sentiment that has been seen in the freight market of late. Meanwhile, some interesting movements were to be seen in the tanker segment, with a significant number of options being declared, despite the continued pressure being felt in...

U.S.-China Trade War Accelerates with Retaliatory Tariffs

U.S.-China Trade War Accelerates with Retaliatory Tariffs...

posted on: Jul 11, 2018

U.S.-China Trade War Accelerates with Retaliatory Tariffs COFCO Dalian soybean terminal (South Dakota Soybean Council / file image) On Friday, the Trump administration followed through on a threat to impose more restrictions on Chinese exports, levying new tariffs of 25 percent on $34 billion worth of Chinese goods. Beijing immediately responded in kind, with new tariffs of 25 percent on American products worth a combined $34 billion. The new Chinese tariffs cover seafood, soybeans and cars, among other products, and are in addition to existing measures. The new round brings the total Chinese tariff on American-made autos to a steep 40 percent, forcing manufacturers like Tesla and BMW to raise their prices in the Chinese market. Measured by value, the German company exports more American-made vehicles than any other firm – including many bound for China. China’s Ministry of Commerce announced Monday that the money it raises with retaliatory...

Wärtsilä 34DF engine awarded EPA Tier III certification in diesel mode

Wärtsilä 34DF engine awarded EPA Tier III certification in diesel mode...

posted on: Jul 11, 2018

Wärtsilä 34DF engine awarded EPA Tier III certification in diesel mode The technology group Wärtsilä announces another milestone achievement with regard to its Wärtsilä 34DF dual-fuel engine. The 34DF engine has been awarded the USA Environmental Protection Agency’s (EPA) Tier III certification for diesel mode operation when installed together with the Wärtsilä NOx Reducer (NOR) system. The Wärtsilä NOR is a selective catalytic reduction (SCR) system that converts nitrogen oxides (NOx) with the aid of a catalyst into diatomic nitrogen (N2) and water. Wärtsilä is the first engine manufacturer to be awarded this certification. The benefit of this award is that shipyards now need only a single party to certify both the engine and the SCR system for full compliance with the latest emission regulations. The Wärtsilä 34DF has already been awarded EPA Tier III certification of emissions compliance from the EPA in 2017 for operating in gas mode...

S. Korean shipbuilders beat Chinese rivals in orders in 1st half...

posted on: Jul 11, 2018

S. Korean shipbuilders beat Chinese rivals in orders in 1st half South Korean shipbuilders beat Chinese rivals in ship orders in the first half of 2018 for the first time in three years, according to data by Clarkson Research Services. In the January-June period, South Korean shipbuilders clinched orders equal to 4.96 million compensated gross tons (CGTs) to build 115 vessels. This accounted for 40 percent of ship orders placed globally, the research firm said. South Korea’s three biggest shipyards — Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. — all won orders to build vessels, including very large crude oil carriers and liquefied natural gas carriers. In comparison, Chinese shipbuilders trailed behind with 4.39 million CGTs, or 203 ships, according to Clarkson. Source:...

Daewoo Shipbuilding, Sembcorp Marine vying for $2 bln Chevron project

Daewoo Shipbuilding, Sembcorp Marine vying for $2 bln Chevron project...

posted on: Jul 10, 2018

Daewoo Shipbuilding, Sembcorp Marine vying for $2 bln Chevron project in Shipbuilding News 10/07/2018 Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday it is competing with Sembcorp Marine Ltd., a Singapore-based machinery company, to win a US$2 billion auction to build an offshore facility for U.S. energy giant Chevron. DSME has been shortlisted in the bid to supply a floating production storage and offloading (FPSO) unit for Chevron’s deep-water energy exploration project off the United Kingdom, a person familiar with the matter told Yonhap News Agency over the phone. The Korean shipbuilder said it “is in the race to secure the project” though it didn’t confirm if it is the sole Korean competing for the project. The FPSO is scheduled to be delivered by the middle of 2021. Two other Korean shipbuilders — Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. — said they participated in the...

Decline in Indian Power Plant Coal Imports Signals Distress

Decline in Indian Power Plant Coal Imports Signals Distress...

posted on: Jul 10, 2018

Decline in Indian Power Plant Coal Imports Signals Distress in Dry Bulk Market,Freight News 10/07/2018 The decline in coal imports by India’s power plants points to distress in an increasing number of generators and a domestic supply shortfall. Imports by power stations fell about 15 percent from a year ago in the first two months of the fiscal year to March caused mainly by a 32 percent drop in overseas purchases by plants designed to use imported coal, according to calculations based on data from Central Electricity Authority, a unit of the power ministry. Higher coal prices and a weaker rupee forced them to cut generation. At the same time, plants that use domestic coal saw a 35 percent spurt in imports as they tried to bridge a shortfall in domestic supply. A court order last year barred some Indian power plants that use imported coal and have fixed-tariff...

Investment Opportunities Abound in the Dry Bulk Shipping Segment

Investment Opportunities Abound in the Dry Bulk Shipping Segment...

posted on: Jul 10, 2018

Investment Opportunities Abound in the Dry Bulk Shipping Segment in Dry Bulk Market,Hellenic Shipping News 10/07/2018 Dry bulkers’ prices could offer some scope for research and historical comparison, as shipbroker Intermodal suggests that there are investment opportunities to be found. In a recent weekly note after this year’s Posidonia Exhibition, the shipbroker said that “with the market now at full speed after Posidonia, we believe a comparison between dry bulk asset values and freight rates during the 2016 Posidonia and the respective ones during this year’s exhibition is quite interesting”. In the Handysize segment, Intermodal’s SnP broker, Mr. Nassos Soulakis said that “the “ex-SH GRACE” (29,828dwt-blt ’06, Shikoku) was sold to Vietnamese buyers in July 2016 for $5.7m. The “ex-ZENITH EXPLORER” (28,343dwt-blt ’08, Imabari) was sold to Greek buyers in April 2018 for $8.2m. – 43.9% increase in asset values – BHSI: 350 (May 2016/average) & 330 (June 2016/average)...

Worldwide Shipping Could Jeopardize Climate Goals 

Worldwide Shipping Could Jeopardize Climate Goals ...

posted on: Jul 10, 2018

Worldwide Shipping Could Jeopardize Climate Goals July 9, 2018 IDN By Sean Buchanan Worldwide, shipping contributes an estimated 2.5 percent of global emissions, but left unchecked this could grow to 17 percent by 2050, warns Transparency International – an international non-governmental organisation based in Berlin. Failure to dramatically reduce the sector’s greenhouse gas (GHG) emissions, says the NGO, will jeopardise the pledges signed by 195 states in the Paris Agreement, which aims to limit planetary warming to “well below” 2°C, and ideally to no more than 1.5°C. On July 2, the International Maritime Organisation (IMO) – the United Nations specialised agency with responsibility for the safety and security of shipping and the prevention of marine and atmospheric pollution by ships and whose work supports the UN Sustainable Development Goals (SDGs) – released a new report evaluating its governance structure and considering whether it will help or hinder the development...

ISO specification is another step forward for Methanol as marine fuel

ISO specification is another step forward for Methanol as marine fuel...

posted on: Jul 10, 2018

ISO specification is another step forward for Methanol as marine fuel The Methanol Institute has welcomed the decision of the International Maritime Organization (IMO) to invite the International Organization for Standardization (ISO) to develop a standard for methyl/ethyl alcohol as a marine fuel and a standard for methyl/ethyl alcohol fuel couplings. The decision, taken at the 99th session of the IMO’s Maritime Safety Committee (MSC 99) is a significant step forward in the recognition of Methanol as a marine fuel that already meets IMO’s 2020 regulations and provides a pathway for very low carbon fuels in future. “The global chemicals industry currently relies on the IMPCA specification for producers and consumers but a dedicated ISO standard will help shipowners understand the fuel in a marine fuel context,” said MI Chief Operating Officer Chris Chatterton. “We are seeing increasing interest around Methanol as a liquid fuel that is safe to...

South Korea and India Plan to Collaborate on Shipbuilding

South Korea and India Plan to Collaborate on Shipbuilding...

posted on: Jul 10, 2018

South Korea and India Plan to Collaborate on Shipbuilding South Korean President Moon Jae-in, is visiting India for the first time seeking to expand cooperation on a range of industries including shipbuilding. Moon said on Monday that he was committed to raising South Korea’s relations with India to the level of those with China, Japan, Russia and the U.S – a election pledge he made. The visit has been planned by his administration since taking power in May this year. “India is witnessing dynamic development,” Moon said, adding that his country would contribute actively to the “Make in India” policy, noting some 500 South Korean companies are already doing business in India. He also asked Indian companies to invest in South Korea, saying the ongoing rapprochement between his country and North Korea may lead to new opportunities. “India and South Korea are the world’s seventh and 11th largest economies....

IMO Sets World Maritime Day Theme for 2019

IMO Sets World Maritime Day Theme for 2019

posted on: Jul 10, 2018

IMO Sets World Maritime Day Theme for 2019 “Empowering Women in the Maritime Community” has been selected as the World Maritime Day theme for 2019. This will provide an opportunity to raise awareness of the importance of gender equality, in line with the United Nations’ Sustainable Development Goals (SDGs), and to highlight the important contribution of women all over the world to the maritime sector. The Council of the IMO, meeting for its 120th session at IMO Headquarters in London, endorsed the theme, following a proposal by IMO Secretary-General Kitack Lim. “IMO has a strong commitment to helping achieve the Sustainable Development Goals and continues to support the participation of women in both shore-based and seagoing posts, in line with the goals outlined under SDG 5: ‘Achieve gender equality and empower all women and girls’,” Lim said. “This theme will give IMO the opportunity to work with various maritime...

IMO Selects Chinese Rescue Diver for 2018 Bravery Award

IMO Selects Chinese Rescue Diver for 2018 Bravery Award...

posted on: Jul 10, 2018

IMO Selects Chinese Rescue Diver for 2018 Bravery Award Image courtesy IMO / Guangzhou Salvage A Chinese diver who rescued three people from a sunken cargo ship will receive the 2018 IMO Award for Exceptional Bravery At Sea. Zhong Haifeng, senior diver and deputy of the engineering team of Guangzhou Salvage, was nominated by China and selected by an IMO panel. On the morning of November 27, 2017, the bulker Jin Ze Lun collided with the freighter Shun Jin Long at the port of Guangzhou. The Shun Jin Long remained afloat, but the Jin went down shortly after the collision. Two out of the 14 crew on board were immediately rescued by local maritime authorities, but the others remained missing. The bulk carrier was lying on the seabed, in the main channel into the port. A strong current meant extreme difficulties for any underwater search and rescue operation. Zhong...

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