(maritime-executive) During a visit by Chinese President Xi Jinping to Brasilia this week, China is expected to announce a $1 billion investment in the port of Sao Luis by state-owned China Communications Construction Company (CCCC). President Xi is in Brazil for the annual BRICS summit, a gathering of the leaders of Brazil, Russia, India, China and South Africa.
(hellenicshippingnews) The second-hand market for ships is quite volatile at the moment, as many owners are actively looking for investment opportunities, in a time when the majority of them refrain from newbuilding orders.
(maritime-executive) Following back-to-back attacks on two vessels in the Gulf of Guinea last week, the International Transport Worker’ Federation has called for urgent global and regional cooperation to fight piracy off West Africa.
(logisticsmgmt) The report’s key metric, the PMI, eked out a 0.5% gain to 48.3 (a reading of 50 or higher indicates growth), following declines of 1.3% and 2.1%, respectively, in October and September. The October PMI marks the third consecutive month the PMI has come in below 50, while the overall economy grew in October for the 126th consecutive month.
(lloydslist) The decision to postpone the October 18 scheduled import duty rise on $250bn worth of goods has failed to lift the uncertainty in a ‘mercurial trade environment’ where importers have to assume the worst to avoid rising Costs.
(maritime-executive) Crude oil production in the U.S Gulf of Mexico hit 1.8 million bpd in 2018, setting a new annual record. The U.S. Energy Information Administration (EIA) predicts that the industry will set new production records in 2019, despite the temporary shut-ins related to Hurricane Barry in July.
(destatis) The downward trend of goods trade with the United Kingdom observed since the Brexit referendum is persisting. As reported by the Federal Statistical Office (Destatis), the United Kingdom ranked seventh among Germany's most important trading partners in the period from January to July 2019, with a foreign trade turnover (exports and imports) of 68.5 billion euros.
(hellenicshippingnews) The escalating US-China trade war, if not settled in October as per the planned meeting between authorities of the two countries, will impact not only the Transpacific trade route, but also other major trade routes as China is the main demand driver.
(hellenicshippingnews) A senior shipping executive said there is still concern in the container shipping industry about whether there will be sufficient low sulfur fuel available for shipping lines to meet the International Maritime Organization requirement.
(Destatis) Maritime transport accounts for the majority of global flows of goods. The volume of goods transported by sea and handled in German sea ports in 2018 was roughly 58 times the volume of air freight handled at the airports.
(gcaptain) A wave of ULCV deliveries this year has pushed the total containership fleet capacity over the 23m teu mark, with the last million slots added in a breath–taking 14 months, according to an Alphaliner report.
(porttechnology) The Georgia Ports Authority (GPA) has said expansions and new business accounted for nearly US$5 billion in investment and 12,000 new jobs in the fiscal year 2019, the centerpiece of which are plans to double annual capacity at the Garden City Terminal to 11 million TEU.
(hellenicshippingnews) Surging iron ore exports from Brazil and contracting vessel supply in the region will keep Capesize/VLOC vessels in high demand in the Atlantic, supporting the continued surge in freight rates.
(porttechnology) A new report commissioned by Maritime UK and the Centre for Economics and Business Research (CEBR), shows that the maritime sector is worth almost US$57 billion to the UK economy, making it larger than many other comparable transportation industries, including rail and aerospace.
(safety4sea) The effect of new IMO 2020 regulations will be one of the key three essential factors expected to determine the direction of the oil price next year, according to research firm Rystad Energy.
(hellenicshippingnews) A new trade campaign coalition has published a report calling on the Government to better assess free port policy measures and grant special economic status to airports and seaports to stimulate international investment, reshore manufacturing and lower prices for consumers in a post-Brexit Britain.
(destatis) Germany exported goods to the value of 115.2 bio. EUR and imported goods to the value of 93.7 bio. EUR in July 2019. Based on provisional data, the Federal Statistical Office reports that German exports increased by 3.8% and imports decreased by 0.9% in July 2019 year on year.
India and Russia have agreed on a five-year roadmap to step up cooperation in the hydrocarbon sector, including investment, not only in exploration and production in each other's oil and gas fields but also in downstream projects.
(safetyatsea) As the category 5-graded Hurricane Dorian slowly inches along its path of destruction, meteorologists from the United States National Hurricane Center have projected the storm will take a right turn from the Bahamas and travel northward along the southeast coast of the US. Ships intending to call at Atlantic seaports on the east coast face great disruption with inbound traffic prohibited at many Florida ports.
(hellenicshippingnews) Since the introduction of the first diesel-powered ships in the early 20th century, technology developments in shipping have been steady and incremental. This continuity will end as the industry approaches the year 2050. Decarbonization requirements and the opportunities offered by digitalization will bring about major change. The challenge for a ship built today is that this change will take place within its lifespan. Failure to account for foreseeable regulatory and technology developments may render a ship built today uncompetitive at best; in the worst case it may end up being prohibited from operating altogether. The technology choices made when building a new ship will therefore decide whether it will be future-proof.
(hellenicshippingnews) Despite the positive sentiment coming back in the dry bulk market, as shown by the latest rise in the Baltic Dry Index, the industry’s benchmark, shipbrokers and analysts remain cautious. In its latest weekly report, shipbroker Allied Shipbroking said that “being almost at the end of the summer period, has the dry bulk sector recovery shown us all its glitter so far?
(worldmaritimenews) Around 6.2 million barrels per day (b/d) of crude oil, condensate, and refined petroleum products flowed through the Bab el-Mandeb Strait in 2018, according to data provided by the U.S. Energy Information Administration (EIA).
(worldoil) Demand for LNG as a conventional source of energy in the maritime industry will continue to grow because of its technological advantages in meeting the standards and requirements in limiting the emissions of sulphur, a greenhouse gas. According to marine fuel expert Sergey Ivanov, the global sulphur cap of 0.5%, which is set to be implemented by the International Maritime Organization (IMO) next year, could drive the global uptake on LNG as bunker fuel.
(gcaptain) A Scottish company and a Dutch port are discussing launching a new ferry line ahead of Britain’s exit from the European Union, potentially providing a swift alternative route for Scottish exports such as whisky if Brexit causes transport delays.
(splash247) A sudden thinning of cape tonnage in the Atlantic basin as Brazilian miner Vale ramps iron ore exports saw the Baltic Dry Index leap yesterday, with analysts confident the cape sector could enjoy a very solid few weeks ahead.
(destatis) Germany exported goods to the value of 106.1 billion euros and imported goods to the value of 89.3 billion euros in June 2019. Based on provisional data, the Federal Statistical Office reports that German exports decreased by 8.0% and imports by 4.4% in June 2019 year on year. After calendar and seasonal adjustment, exports were down 0.1% on May 2019, while imports rose 0.5%.
(maritime-executive) Imports at major retail container ports in the U.S. are expected to continue at near-record levels this month and the remainder of the year despite a new round of tariffs on goods from China, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
The Government of Canada has announced a USD $4.5 million investment for a project in the Sarnia-Lambton corridor and Port of Sarnia, which is aimed at expanding the country’s access to international markets.
The index ISM uses to measure non-manufacturing growth—known as the NMI—fell 1.4% to 53.7 (a reading of 50 or higher indicates growth is occurring) in July. This reading represents the 114th consecutive month of NMI growth, with July’s NMI down 3.9% compared to the 12-month average of 57.6. July’s reading is the lowest over that span.
(gcaptain) The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced the designation of nine Marine Highway Projects and a Marine Highway Route, helping shift the transportation of cargo and people from the highways to the nation’s waterways.
(destatis) Turkish logistics company Ekol Logistics and Belgian freight forwarder Transuniverse Forwarding have decided to construct a 40-hectare multimodal site at Kluizendok in Ghent, part of the Dutch-Belgian North Sea Port.
(destatis) Increasing quantities of sea freight were registered by the German ports last year. Container and other cargo vessels carried roughly 300 million tonnes of goods via German sea ports in 2018. The Federal Statistical Office (Destatis) also reports that this was a year-on-year increase of 1.6%. Maritime transport is much more important for goods transport than, for example, air transport. In 2018, the quantity of goods carried by sea was approximately 61 times that of air transport (which was roughly 5 million tonnes).
(maritime-executive) The UK's foreign ministry has asked UK-flagged ships to stay away from the Strait of Hormuz, one of the busiest waterways in the world for petroleum shipping, after Iranian forces boarded and seized the British tanker Stena Impero on July 19.
(worldmaritimenews) China has retained its lead as the country best connected to others by sea, according to the liner shipping connectivity index (LSCI) from United Nations Conference on Trade and Development (UNCTAD).
(splash247) Capesize bulkers are now trading for in excess of $31,000 a day, leading a surge across all dry bulk segments with the Baltic Dry Index closing yesterday at 2,064 points – a high not seen since the start of 2014.
(worldmaritimenews) Escalating trade hostilities between the US and China spells bad news for the Transpacific container trade but should also result in higher volumes of intermediate goods, according to shipping consultancy Drewry.
(gcaptain) Firefighters were working to bring under control a massive fire at Philadelphia Energy Solutions Inc’s refinery on Friday that has resulted in damage that could keep the affected unit shut for an extended period, according to Philadelphia city officials and company sources.
(splash247) After an extraordinary meeting of the London Joint Cargo Committee to discuss the present situation in the Gulf where six tankers have been attacked in the past six weeks, a number of London cargo insurers have taken the rare decision to issue seven-days’ Notices of Cancellation for the War element of their policies.
(gcaptain) The bunker market is far from ready for the substantial switch in demand to low-sulphur fuel, when the IMO’s 0.5% cap comes into force on 1 January next year, according to the Marine Bunker Exchange (MABUX).
(gcaptain/Reuters) – Global prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.
(maritime-executive) Germany exported goods to the value of 109.7 billion euros and imported goods to the value of 91.7 billion euros in April 2019. Based on provisional data, the Federal Statistical Office reports that German exports declined by 0.5%, while imports increased by 2.1% in April 2019 year on year.
(splash247) At a conference held in town downtown Oslo today organised by class society DNV GL, delegates were warned of the likely huge volumes of claims that will emanate from next year’s global sulphur cap on bunker fuel.
(gcaptain) U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world’s biggest buyer of U.S. energy products.
(ifo) The ifo World Economic Climate has recovered somewhat. In the second quarter, the indicator rose from -13.1 points to -2.4 points, having previously fallen four times in a row. Expectations for the coming months have brightened considerably. In contrast, the assessment of the current situation has deteriorated only slightly. This means the global economy should gradually strengthen again over the course of the year.
(maritime-executive) Global demand for transport will continue to grow dramatically over the next three decades, with global freight demand expected to triple by 2050, according to projections by the International Transport Forum (ITF), an intergovernmental think tank.
Embargoes are rarely effective in compelling a change in diplomatic behavior because they create substantial incentives to circumvent the blockade by switching trade, building indigenous capacity or changing technology.
The governments of Japan, India and Sri Lanka have struck a deal to jointly develop a terminal at the Port of Colombo in order to meet the growing importance of the Indian Ocean to world trade, according to Nikkei Asian Review.
(destatis) Germany exported goods to the value of 118.3 billion euros and imported goods to the value of 95.6 billion euros in March 2019. The Federal Statistical Office reports that German exports were up by 1.9% and imports by 4.5% in March 2019 year on year. After calendar and seasonal adjustment, exports increased by 1.5% and imports by 0.4% compared with February 2019.
(dredgingandports) Several port authorities from around the world have sent no-objection letters and approvals regarding the use of open-loop scrubbers in their waters to the Clean Shipping Alliance 2020 (CSA 2020), indicating they have no intention of banning them.
(hellenicshippingnews) China stepped up purchases of Australian steelmaking coal in March after customs delays earlier this year, Australian government data showed on Tuesday, but exports of thermal coal to the world’s biggest consumer continued to fall.
(ifo) The ifo World Economic Climate has recovered somewhat. In the second quarter, the indicator rose from -13.1 points to -2.4 points, having previously fallen four times in a row. Expectations for the coming months have brightened considerably. In contrast, the assessment of the current situation has deteriorated only slightly. This means the global economy should gradually strengthen again over the course of the year. The experts expect the global economy to grow by 3.4 percent this year.
(splash247) The unprecedented drought hitting Panama has forced authorities to make a sixth draft restriction change this year. Effective from May 28, ships transiting through the new neopanamax locks will have a maximum authorised draft of 13.11 m, shaving another 30 cm off from the last restriction issued at the end of last month.
(hellenicshippingnews) Product tankers could soon be used for floating storage units, as the market is starting to exhibit certain undeniable trends supporting the case for using ships for storage of fuel oils. In its latest weekly report, shipbroker Gibson said that “much of the current market focus is on crude supply, with sanctions, outages and unplanned disruptions impacting on supply.
(worldmaritimenews) The number of containerships taken out for scrubber retrofits is set to increase in the coming months as the date for the implementation of the IMO 2020 rule approaches, Alphaliner said.