Latest Maritime News
July 30-August 12, 2019
Shanghai Tops Ranking of World's Best-Connected Ports

China’s Shanghai port took the title of the world’s best-connected port, according to United Nations Conference on Trade and Development’s (UNCTAD) 2019 ranking, released on August 7.

The Chinese port garnered a connectivity score of 134 points, followed by the ports of Singapore with 124.63 points, Pusan in Korea with 114.45 points and China’s Ningbo with 114.35 points. The index is set at 100 for the best-connected port in 2006, which was Hong Kong, China. Continue reading here ( Source: World Maritime News)
Trade War Hits Port of Long Beach Cargo Volumes

Cargo volumes fell at the Port of Long Beach in July as impacts from the ongoing U.S.-China Trade War continue to hamper trans-Pacific trade. 

The Port of Long Beach reported a total 621,780 TEUs moved through the port this past July, down 9.7 percent compared to July 2018. Imports decreased 9.9 percent to 313,350 TEUs, and exports shrank 6.8 percent to 111,654 TEUs. Empties were also 11 percent lower, at 196,777 TEUs.

“The trade war is hitting the West Coast hard,” said Port of Long Beach Executive Director Mario Cordero. “For more than a year, the supply chain has bent under the weight, and there’s very little give left. If the tariffs continue and escalate as planned next month, American consumers could see higher prices during the holiday season as businesses pass along their costs.” Continue reading here ( Source: gCaptain)
Indonesia's IMO 2020 Pushback Raises Concerns of Wider Non-Compliance

Indonesia's backtracking on  IMO 2020 's January 1 target for sulfur caps on domestic shipping raises the specter of wider non-compliance, as the marine fuel regulation becomes increasingly disruptive and policymakers seek to control its economic fallout, executives said at a gas conference in Jakarta this week.

It also hints at key issues faced by oil refineries, including the lack of an outlet for excess high-sulfur fuel oil and the absence of a cohesive strategy and investment among national oil companies to tackle the new regulations in developing countries. Continue reading here (Source: S&P Global)
Cruise & Ferry Crews Among the Unhappiest, Report Finds

The Seafarers Happiness Index report for Q2 2019, which is produced in association with P&I insurer the Shipowners’ Club, found that cruise and ferry crews had an average score of 5.3/10 on their general happiness level.

This is 15 percent less than the global average across all vessel types, which stands at 6.27 this quarter.

Happiness levels for those working on tankers, bulk carriers and container ships were all close to the global average, coming in at around 6.3/10. Continue reading here (Source: World Maritime News)
Trouble Ahead for Carriers as Trade War Intensifies

The sharp escalation in the US/China trade war could see some short-term front-loading gains for transpacific carriers on the headhaul route, but it spells trouble longer-term, particularly on the backhaul.

Hitting back at President Trump’s Twitter announcement last week of a 10% tariff on a further $300bn worth of Chinese imports into the US from 1 September, Beijing today instructed state-owned companies to suspend all imports of US agricultural products.

Drewry said the renewal of the trade war hostilities could give the transpacific peak season a temporary fillip. Continue reading here (Source: gCaptain)
French Port Sets up 'Mini-ECA'

The French Mediterranean port of Cannes is to impose a 0.1% sulfur cap on the fuel used by cruise ships entering the port.

The rule -- which correlates to the sulfur cap on bunker fuel in place in emission control areas in the Baltic and North Seas -- is to be in place from the start of next year.

The stricter sulfur limit has been imposed by Cannes Municipality and the Chamber of Commerce Nice Cannes Nice-Cote d'Azur, which operates the Vieux Port, according to French media outlet France 3. Continue reading here (Source: Ship&Bunker)
International Energy Agency Says Oil Demand Growth at Lowest Since 2008

Mounting signs of an economic slowdown and a ratcheting up of the U.S.-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said on Friday.

“The situation is becoming even more uncertain ... global oil demand growth has been very sluggish in the first half of 2019,” the IEA said in its monthly report.
The Paris-based agency said that compared with the same month in 2018, global demand fell by 160,000 barrels per day (bpd) in May - the second year-on-year fall of 2019. Continue reading here (Source: Reuters)
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