It is one of the best-known Beatles songs from their final studio album Let It Be, but it also encapsulates perfectly the challenge many commodity markets face as they begin to recover from the enormous disruption of Coronavirus. The pandemic has impacted every metric you can think of: quantitative easing, government debt, unemployment, share valuations, …
China’s marine fuel futures contract that debuts on Monday on the Shanghai International Energy Exchange (INE) is likely to attract strong interest, despite weakened ship fuel demand amid the coronavirus pandemic, industry participants said. The new low-sulphur fuel oil (LSFO) contract features marine fuel meeting stricter international emissions rules and is the latest commodity futures …
China’s new marine fuel contract seen attracting strong industry, investor interest Read More »
The shipping industry’s woes started before the current pandemic. Trade tensions between the U.S. and China had depressed demand throughout 2019. On a longer time frame, a trend to nearshoring or onshoring and the rise of automation were both creating headwinds for the unfettered growth of globalization on which the global shipping industry depends. Indeed, …
Despite unprecedented shock to world trade, shipping lines maintain high freight rates Read More »
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment. New data from the United Nations Conference on Trade and Development (UNCTAD) predicts a 20% slump in the value of trade this year – and developing countries look set to bear the brunt of the pain. …
Weathernews Inc. has been selected as a member of the “Designing the Future of Full Autonomous Ship Project” (hereafter, DFFAS Project) (*), made up of 22 domestic companies who will collaborate on the Joint Technological Development Programme for the Demonstration of Unmanned Ships (**) administered by the Nippon Foundation. In 2021, this project will carry …
Teekay GP LLC, the general partner of Teekay LNG Partners L.P., has declared cash distributions of $0.5625 per unit on the Partnership’s Series A preferred units (NYSE:TGP PR A) and $0.5313 per unit on the Partnership’s Series B preferred units (NYSE:TGP PR B) for the period from April 1, 2020 to June 30, 2020. The …
Teekay LNG Partners Declares Distributions on Series A and B Preferred Units Read More »
This weekend, the UK’s largest independently owned freight forwarding and logistics group, was due to celebrate its 150th anniversary with a birthday party for all the company’s 900 staff from across the UK. Davies Turner has certainly seen plenty of ups and downs since its creation in 1870. However, as COVID-19 grips the world, the …
Davies Turner 150th birthday celebrations: Postponed, not cancelled Read More »
Offshore marine services provider, PACC Offshore Services Holdings Ltd’s (“POSH” or the “Group”) accommodation vessel has been designated by the Maritime and Port Authority of Singapore (“MPA”) to support crew changes for cargo ships calling in Singapore. The Group has uniquely configured its accommodation vessel, POSH Bawean, for deployment at the Eastern Working Anchorage. The …
POSH’s Vessel To Support Singapore In Providing Safe Crew Changes Amid COVID-19 Read More »
The Korean Register (KR), an IACS member classification society celebrates its 60th anniversary on 20 June 2020. To mark the occasion KR has held a commemorative ceremony at the organization’s headquarters in Busan, Korea. However, as a result of the COVID-19 pandemic, the large planned celebration event was replaced with significant donations given to six …
Robotic arm systems (underwater manipulators) are being used in the offshore industries, especially in executing subsea intervention operations. Robotic arms can be mounted on remotely operated vehicles (ROVs), unmanned underwater vehicles (UUVs) and in some cases on autonomous underwater vehicles (AUVs).The systems are used for a variety of subsea tasks in diff[…] Premium content You …
