It has been a bumpy year for worldwide commodity demand, with some sectors speedily bouncing back from pandemic dents, while others have taken more time to rediscover their ‘normal’. China has been a lynchpin for the recovery in dry bulk commodities; wet trades have needed the support of OPEC+ to turn fortunes around, although the …
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Friday to log its second straight weekly gain as capesize rates climbed to over six-week high. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, was up 24 points, or 1.8%, at 1,325, …
Baltic index gains for second straight week as capesize rates jump Read More »
Interest in ammonia-powered fuel cells for the maritime sector is growing, but stakeholders have been hesitant to commit to investments in large-scale systems. Now the ShipFC project, granted funding from EU’s Research and Innovation program Horizon 2020 under its Fuel Cells and Hydrogen Joint Undertaking (FCH JU), is aiming to secure a place for ammonia …
Ammonia fuel cells for deep-sea shipping – a key piece in the zero-emission puzzle Read More »
Britain is drawing up plans to turn London into a rival of Singapore as a hub for shipping companies to register vessels after the Brexit transition period, according to sources. Industry bodies and unions have been canvassed over the reform of the shipping industry’s so-called tonnage tax after Jan 1 next year, when Britain is …
Britain plans to rival S’pore with ship registry revamp Read More »
The first VLGC powered by liquefied petroleum gas was headed toward the Panama Canal Dec. 17 after loading at Enterprise Products Partners’ hydrocarbon terminal on the Houston Ship Channel, Platts trade flow software cFlow showed. Already the world’s largest propane exporter, Enterprise’s achievement provides another demand source for US shale supplies by allowing large vessels …
First VLGC powered by LPG headed from US toward Panama Canal: Platts cFlow Read More »
The drafting team set up by BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) to develop the recently published gas tanker charter party ASBAGASVOY has drafted a document containing additional clauses for possible use with the new charter. The optional additional clauses developed for ASBAGASVOY, which was published together with explanatory …
Optional gas specific clauses to assist users of ASBAGASVOY Read More »
Severe bottlenecks in trade between China and the rest of the world are frustrating retailers and shoppers in Europe and the U.S. during the year’s biggest shopping season. During Germany’s first COVID-19-lockdown in March, Oliver Hellmold, CEO of Notebooksbilliger, one of Europe’s largest online electronics retailers, started ordering twice as many gadgets from China as …
China shipping logjam chokes Christmas in US and Europe Read More »
With new International Maritime Organization requirements on cyber risk management imminent, CJC Senior Associate Richard Murray and IEIT Cyberlogic conclude that making ships truly cyber secure involves a marathon not a sprint. On 1 January 2021, pursuant to Resolution MSC. 428(98), IMO Administrations are to ensure that cyber risks are appropriately addressed in safety management …
Offshore vessel operator S.D. Standard Drilling has secured more work for its fleet of platform supply vessels. The vessel utilization for the company’s owned large size PSVs totalled 74 per cent in October and November. The Standard Viking, one of four large platform supply vessels (PSVs) owned by Standard Drilling, has won a one-year firm …
Standard Drilling finds new work for supply vessels Read More »
Oslo-listed engineering and marine services player DOF Subsea has been awarded multiple new contracts for execution in the North Sea, Mediterranean and Africa. Skandi Neptune (Courtesy of DOF Subsea) Contracted work includes a number of turnkey subsea projects within the company’s core service lines – Survey, Inspection, Maintenance & Repair (IMR) and Construction. The vessels …
DOF Subsea scores multiple contracts in Atlantic region Read More »
