Latest Maritime News
August 12-26, 2019
U.S. Container Ports Report Surprising Growth Despite Tariffs

Despite the escalating US/China trade war, the ten biggest US container ports posted a surprisingly robust 2.7% year-on-year import throughput growth in July, for a cumulative 1,865,645 teu.
However, analyst John D McCown, of consultancy Blue Alpha Capital, still believes that the impact of tariffs on Chinese imports “will become dramatically more pronounced”.

The better-than-expected July numbers, which support the upbeat view of the transpacific market by Maersk last week, were mainly driven by the increased trend for Asian shippers to route their cargo through US east and Gulf coast ports. Continue reading here ( Source: gCaptain)
Singapore Launches Maritime Sustainability Reporting Guide

Companies in the maritime sector will get more help in becoming sustainable with the launch of a new guide by the Maritime and Port Authority of Singapore (MPA).

The Maritime Sustainability Reporting Guide details a practical framework and lists examples of best practices to help maritime firms create a sustainability report. Firms can download the guide for free from the MPA's website.

It was jointly created by the MPA and partners such as the Singapore Exchange (SGX), Global Compact Network Singapore (GCNS) and sustainability consultants. GCNS is the Singapore chapter of the United Nations Global Compact and the national lead agency in promoting corporate sustainability. Continue reading here ( Source: Straits Times)
Tanker Market: VLCCs in Upward Trajectory

Rates in the Middle East Gulf continued an upward trajectory, with 270,000mt to China at WS 66, up about five points and 280,000mt to the US Gulf, basis Cape/Cape, rated at WS 30, an increase of three points. Meanwhile, western loadings have also climbed, with 260,000mt West Africa to China at WS 64, increasing about four to five points. 270,000mt US Gulf to China is now at $6.5m.

Rates for 130,000mt West Africa to UK-Continent regained some of the ground lost in recent weeks, rising five points to WS 62-63 level. 135,000mt Black Sea to the Mediterranean has remained steady at WS 68/70 level and 140,000mt Basrah to the Mediterranean is unmoved at WS 32.5. Continue reading here (Source: Baltic Briefing)
Indonesia Says it Will Enforce IMO 2020 Fuel Rules on Schedule

Indonesian-flagged ships will comply with new low-sulphur fuel rules that start next year, the country’s Ministry of Transportation said on Tuesday, after earlier saying more time was needed to meet the requirement.

Under International Maritime Organization (IMO) rules that come into effect in 2020, ships will have to use fuel with a maximum 0.5% sulphur content, down from 3.5% now, unless they are equipped with scrubbers to remove the sulphur from the vessel’s emissions.

In a statement on Tuesday, Sudiono, the Transportation Ministry’s director of shipping and maritime affairs, said the rule will be applied to “all Indonesian-flagged vessels starting Jan. 1, 2020, both for domestic and foreign shipping.” Continue reading here (Source: gCaptain)
IMO2020: Scrubber Retrofits Taking Longer than Expected

Shipowners are reporting that their scrubber retrofit programmes are taking a lot longer than expected, in some cases pushing back completion dates until after for the January 1, 2020 start date of the new IM02020 global 0.50% sulfur cap.
Among those reporting issues are crude and product tanker owner Diamond S, who last week said three scrubbers that had originally been scheduled tor installation in Q4 of 2019 have now been officially moved to the first quarter of 2020. Continue reading here (Source: Ship & Bunker)
Low Sulfur Fuel Guidance Published

A group of shipping, refining, fuel supply and standards organisations (see below) have produced a Joint Industry Guidance on the supply and use of 0.5% sulfur marine fuel.

The publication is designed to provide guidance for those involved in the marine fuels and shipping industries, from fuel blenders and suppliers to end users. It presents safety and operational issues relating to the supply and use of maximum 0.5% sulfur fuels, an overview of fuel quality principles, and the controls that should be put in place to ensure that safety issues are identified, prevented and/or mitigated. Continue reading here (Source: Tanker Operator)
OSV and Rig Oversupply in the U.S. Gulf Continues

Where is the recovery in offshore drilling activity? The bulls will tell you it’s just around the corner, but it has so far failed to materialize for offshore supply vessel (OSV) companies in the Americas.

If we step back and look at the Western Hemisphere as one big market, then the Americas OSV market has remained largely flat since October 2018 when the market hit a low of 85 contracted rigs across both continents. Since then it’s been hovering at 88 contracted mobile rigs (semisubmersibles, drillships and jackups), supported by 397 offshore supply vessels (PSV, AHTS and AHT). While production facilities require long term support, drilling activity drives new OSV demand, and rig utilization remains poor. Operators have been enjoying a prolonged period of lower costs for vessels and rigs. Continue reading here (Source: Work Boat)
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