(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.
(destatis) The Federal Statistical Office reports that price-adjusted new orders in the main construction industry in February 2019 decreased a seasonally and working-day adjusted 2.0% on January 2018. In building construction and civil and underground engineering, in establishments of enterprises with 20 or more persons, new orders increased by 8.2% in nominal terms compared with the corresponding month of the previous year.
(ifo) The mood among German managers became slightly gloomier this month. The ifo Business Climate Index fell from 99.7 points (seasonally adjusted) in March to 99.2 points in April. Companies are less satisfied with their current business situation. March’s gentle optimism regarding the coming months has evaporated. The German economy continues to lose steam.
(seaeurope) SEA Europe welcomes the partial agreement reached between the European Parliament and the Council of the EU on Horizon Europe on 18 April. Horizon Europe is the next 7-years European Research and Innovation Funding Programme and is part of the EU's proposal for a new EU budget for the period 2021 till 2027 (known as the Multi-Annual Financial Framework).
(porttechnology) The US and EU could sign a new trade deal after the European Council, the body comprising of European member states, voted to resume talks over the Trans-Atlantic Investment Partnership (TTIP).
(hellenicshippingnews) While a US-China trade deal might lead to a prompt response in met coal exports from the US to China, the larger outcome would be an improved global economy and boost to the steel market, a Seaport Global report said.
(hellenicshippingnews) With the first quarter of 2019 already past us, it’s now becoming increasingly obvious that the dry bulk market will find it hard to experience a third consecutive year of recovery, not to mention new peaks.
(hellenicshippingnews) A total of 304.7 million tons of seaborne goods was handled in German sea ports in 2018, marking an increase of 1.7 percent compared to the previous year, the German Federal Statistical Office (Destatis) announced.
(maritime-executive) ReCAAP ISC has released it's quarterly piracy report for Asia showing that there were 10 incidents of armed robbery against ships (including one attempted incident), a 52 percent decrease from the same period last year.
(gcaptain) Anglo-Australian miner Rio Tinto Ltd on Tuesday reported a 14 percent drop in quarterly iron ore shipments and cut its 2019 shipments estimate on disruption caused by a tropical cyclone that hit its export terminal in Western Australia last month.
(destatis) In 2018, the volume of seaborne goods loaded and unloaded increased by 1.7% compared with a year earlier. The Federal Statistical Office reports that a total of 304.7 million tonnes of goods were handled in German sea ports that year. In 2017, the relevant volume of freight was 299.5 million tonnes.
(hellenicshippingnews) Last year, it was mostly tankers and containers which were the main candidates for ship recycling. As of late though and amid a growing unease regarding the dry bulk market’s immediate prospects, more and more dry bulkers are being considered for scrapping.
(hellenicshippingnews) Singapore maintained its top position at the head of the 15 leading maritime capitals. Despite a somewhat weak trade cycle in traditional shipping and offshore oil and gas markets yet to recover, Singapore was able to retain its lead in three of the five pillars of the ranking: Shipping, Ports and Logistics as well as Attractiveness and Competitiveness.
(hellenicshippingnews) While the world has been enthralled by the US-China trade war, another extremely pressing situation is happening in the logistics industry — the International Maritime Organization is preparing to roll out a landmark set of regulations that will cost carriers at least $15B per year.
(hellenicshippingnews) VesselsValue data suggests the value of a generic fixed age 15 year old Capesize Bulker has fallen 20% from 1st November 2018 to USD 12.2 million today. By contrast, other valuers are quoting figures or estimated ranges 15-30% higher.
(maritime-executive) Having just completed another record year, optimism remains high in the cruise industry as the business leaders, port and government officials, suppliers and other vendors all gather for one of the industry’s largest business conferences – Seatrade Cruise Global 2019 in Miami, Florida.
(maritime-executive) The U.S. Energy Information Administration (EIA) predicts that the share of high sulfur residual fuel oil consumed as bunker in the U.S. will drop from 58 percent in 2019 to three percent in 2020, and then rebounds to 24 percent in 2022.
(gcaptain) The Baltic Exchange has opted to keep its benchmark shipping indices unchanged, despite calls from some market players for the data provider to include fuel cleaning systems that vessels can fit due to a major regulatory change next year.
(rwi) The Container Throughput Index of the RWI – Leibniz Institute for Economic Research and the Institute of Shipping Economics and Logistics (ISL) fell to 133.9 according to the flash-estimate for February. Compared with (revised) January value of 138.2, this reflects the fourth-largest decline observed so far. Especially the Chinese ports experienced a decrease in container handling which corresponds to the festivities of Chinese New Year. In general, the computation accounts for this seasonal effect, however, its estimation still involves a higher degree of uncertainty.
(maritime-executive) Satellite communications company Inmarsat has recommended shareholders accept a $3.4 billion takeover offer from the newly formed Triton Bidco consortium. Triton Bidco includes Apax, Warburg Pincus, Canada Pension Plan Investment and Ontario Teachers’ Pension Plan Board.
(Destatis)In 2018, the volume of goods transported on inland waterways decreased by 11.1% compared with the previous year. The Federal Statistical Office reports that a total of 198.0 million tonnes of goods were transported on German inland waterways. In 2017, the relevant volume of freight was 222.7 million tonnes.
(hellenicshippingnews) Predicting the future course of the dry bulk market has proven to be more than difficult these days, with most estimates falling way off the mark given the unpredictability of freight rates and the effect of one-off events, like the recent Vale accident, which took out of the market a major part of dry bulk cargoes.
(maritime-executive) Italy's government is headed squarely for a deal with China on direct investment in as many as four major seaports, explicitly endorsing Beijing's "belt and road" economic development program.
(logisticsmgmt) February shipments, at 909,947, fell 4.5% annually, with containerized freight handled shipments down 4%. What’s more, this decline follows an aggregate increase of 5.5% over the previous three months.
(hellenicshippingnews) More ports around the world are banning ships from using a fuel cleaning system that pumps waste water into the sea, one of the cheapest options for meeting new environmental shipping rules.
The South Carolina Ports Authority (SCPA) has announced that it will receive US$138 million in funding from President Trump’s Fiscal Year 2020 Budget for its 52-foot Charleston Harbour Deepening Project.
(Destatis) In Germany, labour costs per hour worked rose a calendar adjusted 2.3% in 2018 compared with a year earlier. The Federal Statistical Office (Destatis) also reports that the costs of gross earnings increased by 2.4%, while non-wage costs were up 2.0%.
(maritime-executive) Australia's coal exports to China could face a continued slowdown as Chinese authorities step up their campaign to reduce air pollution, but the Australian government remains confident of the nation's mining future.
(worldmaritimenews) Philippines-based port management company International Container Terminal Services (ICTSI) has increased its 2018 profit on the back of a six percent increase in TEU volume and inclusion of new terminals.
(hellenicshippingnews) Beijing’s movers and shakers are meeting for the so-called “two sessions” this week, where they will discuss things like trade wars and economic development. The first order of business for the market: a new GDP target range that puts guidance as low as 6% to as high as 6.5%.
The Jacksonville Port Authority (Jaxport) Board of Directors has unanimously approved a long-term agreement with terminal operator SSA Marine for the development and operation of a new $238.7 million international container terminal at the port's Blount Island Marine Terminal.
The Transportation Institute, a maritime association that promotes the Jones Act in the U.S., has published details of a PwC report that demonstrates a 30 percent increase in domestic maritime job creation enabled by the Jones Act. The industry now employs nearly 650,0000 Americans across 50 states and contributes $154 billion to the nation’s economic growth annually.
For more than 100 years, the Panama Canal has improved global commerce, transportation and connectivity, enabling growing opportunities for countries around the world. The waterway currently serves 140 routes, connecting 1,700 ports and 160 countries.
China’s liquefied natural gas imports in January rose to a record as an increase in residential heating demand during the winter after the country’s shift to gas heating spurred higher shipments, customs data showed on Saturday.
U.S. President Donald Trump said on Sunday that he would delay his planned increase in tariffs on Chinese goods after “productive” talks in China. Trump had planned to raise tariffs on $200 billion of Chinese goods from 10 to 25 percent on March 1 but now hopes to meet with Chinese President Xi Jinping to finalize a deal.