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Selected News Headlines 2018/Q1

26 March 2018 - 03 April 2018


Pressure Mounts on IMO to Set CO2 Reduction Targets –  Governments will have to compromise to enable the International Maritime Organization (IMO) to set an ambitious strategy for the further reduction of CO2 emissions by shipping that will match the expectations of the Paris Agreement on climate change, the International Chamber of Shipping (ICS) said. (World Maritime news: click here)

UK Government sets up think tank on future of maritime – The UK Government has set up a team of experts to advise on the future of the maritime industry and how the country can stay at the forefront in the development of new technologies such as autonomous ships and digital ports. (Seatrade-Maritime: click here)

SHIP TO SHORE POWER CONTRACT FOR PORT OF GENOA – Genoa Port in Italy is set to benefit from a €8 million ship to shore power project to help it meet EU environmental sustainability standards. (Greenport: click here)

Deepening project receives go-ahead – Minister Cora van Nieuwenhuizen of Infrastructure and Water Management and Ronald Paul (COO Port of Rotterdam Authority) gave the official go-ahead for the deepening of the Nieuwe Waterweg and the Botlek on Monday 26 March. Rijkswaterstaat and the Port of Rotterdam Authority have joined forces to ensure that sea-going vessels with a draught of 15 m can also reach the Botlek port. Dry Bulk Magazine: click here)

UN Security Council Blacklists 27 Ships over North Korea Links – The United Nations’ Security Council has added 27 ships to its blacklist as part of its clamp down on North Korea over its nuclear program. (World Maritime news: click here)

Shipping Fears Trade War Escalation as China Hits Back at Trump’s Tariffs – The trade war between China and the United States is brewing with China announcing plans to impose duties on U.S. goods worth USD 3 billion. (World Maritime news: click here)

Baltic Dry Index 1,055 1,117 -62 -5.6% 1,055 – 1,055
BRENT ($/bbl) 69.87 69.3 +0.6 +0.8%
WTI ($/bbl) 64.75 65.1 -0.4 -0.6%
MGO ROTTERDAM ($/bbl) 592 575.0 +17.0 +3.0%
MGO  FUJAIRAH ($/bbl) 678.0 682.0 -4.0 -0.6%
MGO SINGAPORE ($/bbl) 617.5 612.0 +5.5 +0.9%
IFO 180 ROTTERDAM ($/bbl) 392.5 393.0 -0.5 -0.1%
IFO 180 FUJAIRAH ($/bbl) 441.5 440.5 +1.0 +0.2%
IFO 180 SINGAPORE  ($/bbl) 411.5 408.5 +3.0 +0.7%
EUR-USD 1.23 1.23 +0.00 +0.0%
GBP-USD 1.40 1.41 +0.01 +0.6%
USD-JPY 106.43 105.28 -1.15 -1.1%
USD-KRW 1065.93 1072.24 +6.31 +0.6%

Sources: KPI Bridge Oil,,

12 March 2018 - 16 March 2018




Shipping, data and avoiding becoming the Uber drivers of the seas

How shipping can utilise big data to avoid yet further commodisation of its service and improve safety of operations was a topic panelists at grappled with at the Connecticut Maritime Association (CMA) conference last week. (Seatrade Maritime News: Click here)

Panama Canal signs MoU to promote grain shipments from Brazil

The Panama Canal has signed a Memorandum of Understanding (MoU) in Cuiaba, Brazil, to promote the east-west-route through the Panama Canal for grain shipments traveling from northern Brazil to the ports on the Pacific coast. (Seatrade Maritime News: Click here)

VLCC Scrapping in Q1 Breaks Last Year’s Total

2018 is off to a great start when it comes to removing of outdated tanker tonnage from the oversupplied fleet paving the way for the weak spot market to start recovering. (World Maritime News: Click here)

Dry Bulk Newbuildings On the Rise Again, Prompting Oversupply Concerns Once More

While the overall sentiment in the dry bulk market is more than bullish for the long-term recovery, things can very quickly shift around making a rather unexpected U-turn. (Hellenic Shipping News: Click here)

Construction Work Begins on Saudi Arabia’s Maritime Yard

The construction process on Saudi Arabia’s new maritime yard has officially begun, with dredging and associated activities well underway, oil rig builder Lamprell Plc said. (World Maritime News: Click here)


Baltic Dry Index 1,150 1,201 -51 -4.2% 818 – 1,743
BRENT ($/bbl) 65.22 65.4 -0.2 -0.2%
WTI ($/bbl) 61.28 61.9 -0.6 -1.0%
MGO ROTTERDAM ($/bbl) 547.5 550.5 -3.0 -0.5%
MGO  FUJAIRAH ($/bbl) 671.5 672.5 -1.0 -0.1%
MGO SINGAPORE ($/bbl) 587.5 585.5 +2.0 +0.3%
IFO 180 ROTTERDAM ($/bbl) 382.0 375.0 +7.0 +1.9%
IFO 180 FUJAIRAH ($/bbl) 438.5 430.5 +8.0 +1.9%
IFO 180 SINGAPORE  ($/bbl) 399.5 400.5 -1.0 -0.2%
EUR-USD 1.23 1.23 +0.00 +0.1%
GBP-USD 1.39 1.39 -0.01 -0.7%
USD-JPY 106.01 106.82 +0.81 +0.8%
USD-KRW 1066.15 1069.82 +3.67 +0.3%

Sources: KPI Bridge Oil,,

5 March 2018 - 11 March 2018



INTERCARGO Secretary General: “Regulation is welcome but should be measured and wise”

On 5 and 6 March 2018, The International Association of Dry Cargo Shipowners (INTERCARGO) held its Technical and Executive Committees’ meetings in Singapore, along with a well-attended dinner reception on the first day. (Dry Bulk Magazine: Click here)

Amendments to IOPP certificate now effective

On 1 March 2018, the amendments to update Form B of the Supplement to the International Oil Pollution Prevention Certificate, in relation to segregated ballast tanks, entered into force. (Safety4Sea: Click here)

Problems of ballast water control in Ukraine

The Japan P&I Club has been informed by its correspondent in Ukraine, Dias Marine Consulting p.c., of the development of problems regarding ballast water inspections by the local ecological inspectors. (Safety4Sea: Click here)

Bulk Carrier Taking on Water in Gulf of Finland

Panama-flagged bulk carrier Glory Hongkong sprung a leak while on its way to St Petersburg, the Finnish Border Guard’s maritime rescue center based in Helsinki informed on Thursday, March 8. (World Maritime News: Click here)

China’s aluminum exports rise, steel down as Trump prepares tariffs

China’s aluminum exports grew more than 25 percent in the first two months of 2018, but steel exports fell by nearly a third, as the world’s top producer of the two metals faces scrutiny amid U.S. plans to impose hefty tariffs later on Thursday. (Hellenic Shipping News: Click here)



Baltic Dry Index 1,201 1,207 -6 -0.5% 818 – 1,743
BRENT ($/bbl) 65.38 63.9 +1.5 +2.3%
WTI ($/bbl) 61.88 60.9 +0.9 +1.5%
MGO ROTTERDAM ($/bbl) 550.5 549.0 +1.5 +0.3%
MGO  FUJAIRAH ($/bbl) 672.5 665.0 +7.5 +1.1%
MGO SINGAPORE ($/bbl) 585.5 577.0 +8.5 +1.5%
IFO 180 ROTTERDAM ($/bbl) 375.0 370.5 +4.5 +1.2%
IFO 180 FUJAIRAH ($/bbl) 430.5 433.0 -2.5 -0.6%
IFO 180 SINGAPORE  ($/bbl) 400.5 391.0 +9.5 +2.4%
EUR-USD 1.23 1.23 +0.00 +0.1%
GBP-USD 1.39 1.38 0.00 -0.3%
USD-JPY 106.82 105.75 -1.07 -1.0%
USD-KRW 1069.82 1080.46 +10.64 +1.0%
Sources: KPI Bridge Oil,,


19 February 2018 - 25 February 2018


IMO admits serious safety worries still hang over 2020 fuel switch

Delegates voice fears about the potential effect of low-sulphur fuels on ship machinery. (Trade Winds: Click here)

IMO to Ban Many Ships with High Sulphur Fuel from 2020

The International Maritime Organization intends to ban ships that do not have equipment to strip sulphur from carrying fuel that has a sulphur content above new limits in 2020, an IMO official said on Thursday. (Marine Link: Click here)

IMO Sub-Committee Addresses Distress And Safety At Sea

The GMDSS was adopted in 1988 to ensure full integration of maritime radio and satellite communications so that distress alerts can be generated from anywhere on the world’s oceans. (Safety4Sea: Click here)

Refiners tease plans for 2020 0.5% sulfur bunker fuels

As the shipping and bunker industries await the new 0.5% global marine fuel sulfur limit in less than two years, refiners have this week started to reveal some of their plans for the fuels they want shipowners to buy in 2020. (Hellenic Shipping News: Click here)

BIMCO: 1Q18 requires careful handling as seasonal cargo demand drops

The first quarter of any year always represents a challenge for the shipping industry, with fewer cargoes being tendered and Chinese New Year in February creating recurring business issues.(Dry Bulk: Click here)

Dry Bulk Market: Demolition Activity Still Crucial for Long Term Recovery

The sustainability of the dry bulk market’s rebound is still very much reliant on the steady rhythm of dry bulk demolitions. (Hellenic Shipping News: Click here)


Baltic Dry Index 1,185 1,084 +101 +9.3% 818 – 1,743
BRENT ($/bbl) 66.2 64.9 +1.3 +2.1%
WTI ($/bbl) 62.66 61.8 +0.8 +1.4%
MGO ROTTERDAM ($/bbl) 562.5 553.0 +9.5 +1.7%
MGO  FUJAIRAH ($/bbl) 672.5 668.5 +4.0 +0.6%
MGO SINGAPORE ($/bbl) 593.0 583.5 +9.5 +1.6%
IFO 180 ROTTERDAM ($/bbl) 388.0 386.0 +2.0 +0.5%
IFO 180 FUJAIRAH ($/bbl) 432.5 434.0 -1.5 -0.3%
IFO 180 SINGAPORE  ($/bbl) 399.5 399.0 +0.5 +0.1%
EUR-USD 1.23 1.24 +0.01 +0.9%
GBP-USD 1.40 1.40 +0.00 +0.2%
USD-JPY 106.89 106.21 -0.68 -0.6%
USD-KRW 1078.94 1063.10 -15.84 -1.5%

Sources: KPI Bridge Oil,,


12 February 2018 - 18 February 2018




New Cabotage Rules Could Hurt Indonesia’s Coal Ports

 Indonesia’s coal producers are concerned that the nation’s new cabotage rules will cut down on export volumes at its coal terminals. The Indonesian Ministry of Trade has issued a regulation requiring certain goods – including coal and crude palm oil – to be exported aboard Indonesian vessels and insured with Indonesian insurers, a measure intended to boost the nation’s shipping industry.(The Maritime Executive: Click here)


California’s BWM regulations and fines

 The London Club issued an alert informing that Californian legislation now applies maximum fines of USD27,500 per tank where no ballast exchange has been made and between USD5,000 and USD20,000 per tank where there was an exchange within the zones of 200nm and 50nm from land, depending upon how close to land it occurred. Falsification of records is also punishable by up to one year in jail. (Safety4Sea: Click here)


Preventing ships’ garbage pollution

The latest amendments to the International Convention for the Prevention of Pollution from Ships MARPOL Annex V address the disposal of cargo residues and garbage handling in Polar waters. It also provides the new format for the garbage record book, which will used from 01 March 2018.(Safety4Sea: Click here)


China Breaks New Ground… Again

Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years.(Hellenic Shipping News: Click here)

2017: Port of Bilbao reports 7% rise in port traffic with significant growth in dry bulk

The Port of Bilbao ended 2017 with a 7% traffic growth, which indicates a 2.2 million t increase over 2016. For the port, which is based in northern Spain, this is the greatest yearly tonnage increase since 2006. (Dry Bulk Magazine: Click here)

Clarksons: Bulk Carrier Deliveries to Keep Shrinking

Deliveries in the bulk carrier sector, which in 2017 hit their lowest level in dwt terms since 2008, are set to continue on a downward trend in the next few years, Clarksons Research said. (World Maritime News: Click here)


Dry Bulk Market: Freight Rate Prospects Looking Positive After Chinese Lunar New Year

 Dry bulkers are hotting up price-wise, as the market’s prospects appear rosier than ever during these years of crisis. (Hellenic Shipping News: Click here)


Baltic Dry Index 1,084 1,125 -41 -3.6% 741 – 1,743
BRENT ($/bbl) 64.86 64.2 +0.6 +1.0%
WTI ($/bbl) 61.82 60.5 +1.4 +2.2%
MGO ROTTERDAM ($/bbl) 553 556.0 -3.0 -0.5%
MGO  FUJAIRAH ($/bbl) 668.5 671.5 -3.0 -0.4%
MGO SINGAPORE ($/bbl) 583.5 584.5 -1.0 -0.2%
IFO 180 ROTTERDAM ($/bbl) 386.0 380.0 +6.0 +1.6%
IFO 180 FUJAIRAH ($/bbl) 434.0 429.5 +4.5 +1.0%
IFO 180 SINGAPORE  ($/bbl) 399.0 403.0 -4.0 -1.0%
EUR-USD 1.24 1.23 -0.02 -1.3%
GBP-USD 1.40 1.38 -0.02 -1.4%
USD-JPY 106.21 108.80 +2.59 +2.4%
USD-KRW 1063.10 1092.07 +28.97 +2.7%


Sources: KPI Bridge Oil,,


5 February 2018 - 11 February 2018




‘No turning back!’ on 0.5% sulphur cap states IMO sec-gen


IMO secretary-general Ki-Tack Lim underscored the organisation’s commitment to enforcing the 0.5% sulphur cap on marine fuel from 2020, and in a warning for those hoping for a reprieve said “There is no turning back!”(Seatrade Maritime: Click here)


Global TestNet meeting addresses ballast water testing


Experts from ballast water testing facilities from around the world gathered at IMarEST headquarters in London, on 1-2 February to discuss the science behind BWM. The meeting was part of the Global TestNet, a forum of organizations involved in standardization, transparency and openness of land-based and shipboard testing for the certification of BWMS. (Green4Sea: Click here)


USCG: Activating a Vessel Response Plan


The US Coast Guard issued a bulletin providing clarifications on activation of a vessel response plan (VRP) and when and how deviation from listed response resources may occur. (Safety4Sea: Click here)


CMPort taking 50% stake in Port of Newcastle


China Merchants Port (CMPort) is taking over a 50% stake in the Port of Newcastle from a unit of parent China Merchants Group for AUD607.5m ($479.4m). Top Australian infrastructure focussed fund The Infrastructure Fund (TIF) holds the remaining stake.(Seatrade Maritime: Click here)


Demolition Activity Stagnates, Trigerring Fears of a Slower Shipping Market Recovery


With the fragility in the dry bulk market’s recovery already noted and the rebound in the tanker market both hinging in solid levels of ships’ scrapping.. (Hellenic Shipping News: click here)


RightShip appoints new CEO


RightShip has appointed Martin Crawford-Brunt as CEO. Crawford-Brunt will replace outgoing CEO Warwick Norman, who announced his decision to step down from the position in 2017. (Dry Bulk Magazine: Click here)



Baltic Dry Index 1,125 1,095 +30 +2.7% 685 – 1,743
BRENT ($/bbl) 64.22 69.8 -5.6 -8.0%
WTI ($/bbl) 60.46 66.1 -5.6 -8.5%
MGO ROTTERDAM ($/bbl) 556 597.0 -41.0 -6.9%
MGO  FUJAIRAH ($/bbl) 671.5 688.5 -17.0 -2.5%
MGO SINGAPORE ($/bbl) 584.5 622.0 -37.5 -6.0%
IFO 180 ROTTERDAM ($/bbl) 380.0 403.5 -23.5 -5.8%
IFO 180 FUJAIRAH ($/bbl) 429.5 438.5 -9.0 -2.1%
IFO 180 SINGAPORE  ($/bbl) 403.0 425.0 -22.0 -5.2%
EUR-USD 1.23 1.25 +0.02 +1.7%
GBP-USD 1.38 1.41 +0.03 +2.1%
USD-JPY 108.80 110.17 +1.37 +1.2%
USD-KRW 1092.07 1079.94 -12.13 -1.1%

Sources: KPI Bridge Oil,,



29 January 2018 - 4 February 2018





Families of Missing Stellar Daisy Crew Call for Resumption of Search Operation


South Korean families of the missing crew members of the ill-fated bulker Stellar Daisy, which sank off Uruguay in March 2017, are calling on the authorities to continue the search and rescue operation for the missing seafarers. (World Maritime News: Click here)


Baltic Exchange re-weights BDI


Following consultation with members the Baltic Exchange will be implementing previously announced changes to the Baltic Dry Index (BDI). (Dry Bulk Magazine: Click here)


In the shadow of oil, coal markets rise from the ashes


Far from entering the death throes predicted by some environmentalists and analysts, thermal coal miners are enjoying their best returns in years as strong Asian demand and tight supplies send prices soaring. (Hellenic Shipping News: Click here)


Leaking cargo hatch covers cause cargo damage


In its Monthly Safety Scenario for February, the Swedish P&I Club describes a case of cargo damage on a bulk carrier due to water ingress, as a result from improper condition of hatch covers.(Safety4Sea: Click here)


Armed robbers board bulk carrier, stab bosun


Two robbers armed with knives boarded a bulk carrier, while anchored at Godau Port, Vietnam, on 31st of January, according to data provided by IMB Piracy reporting Centre. (Safety4Sea: Click here)


India’s growing economy holds promise for coal exporters


India’s growing economy is hungry for coal, with a huge demand for imported coal, delegates attending the IHS Markit South African Coal Export Conference, in Cape Town, have heard. (Hellenic Shipping News: Click here)


Bangladesh passes bill to improve working conditions in shipbreaking


In a bid to further boost Bangladeshi ship recycling industry, the country’s parliament passed the Bangladesh Ship Recycling Bill 2018, keeping a provision of tougher punishment for violations of the law. (Green4Sea: Click here)




Baltic Dry Index 1095 1,219 -124 -10.2% 685 – 1,743
BRENT ($/bbl) 69.8 70.2 -0.4 -0.5%
WTI ($/bbl) 66.05 65.4 +0.7 +1.0%
MGO ROTTERDAM ($/bbl) 597 611.0 -14.0 -2.3%
MGO  FUJAIRAH ($/bbl) 688.5 672.5 +16.0 +2.4%
MGO SINGAPORE ($/bbl) 622.0 621.0 +1.0 +0.2%
IFO 180 ROTTERDAM ($/bbl) 403.5 407.0 -3.5 -0.9%
IFO 180 FUJAIRAH ($/bbl) 438.5 440.0 -1.5 -0.3%
IFO 180 SINGAPORE  ($/bbl) 425.0 426.0 -1.0 -0.2%
EUR-USD 1.25 1.24 0.00 -0.3%
GBP-USD 1.41 1.42 +0.00 +0.3%
USD-JPY 110.17 108.58 -1.59 -1.5%
USD-KRW 1079.94 1064.01 -15.93 -1.5%


Sources: KPI Bridge Oil,,


22 January 2018 - 28 January 2018




IMO reviews SOLAS on safe mooring

A revised SOLAS regulation on safe mooring is expected to be finalised during IMO Sub-Committee on Ship Design and Construction (SDC) meeting this week, aiming to prevent accidents and injury when ships are secured at their berth in a port. (Safety4Sea: Click here)

Small Bulkers in High Demand


Newbuilding activity picked up over the past week, while in the S&P market, the main focus has been dry bulk carriers of the smaller size-segments. (Hellenic Shipping News: Click here)


Shippers reminded of wet season issues in loading Indonesian nickel ore


With the wet season in Southeast Asia rolling around again, P&I clubs have been duly reminding its members of the perennial issues in the nickel ore trade. (Sea Trade Maritime: Click here)


Baltic Index Rises On Stronger Rates For Larger Vessels


The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday on higher rates for capesizes and panamax vessels. (Shipping Herald: Click here)


New Plan For Growth In The Danish Maritime Sector


The Government’s Plan for Growth in the Danish Maritime Sector positions the country to become a global maritime hub by 2025. (Shipping Herald: Click here)


DHI Singapore closes down land-based BWMS testing facility


BWMS provider DHI announced it will re-arrange the activities related to type approval of ballast water management systems from 1st March 2018 onwards. Shipboard testing will continue be performed by DHI Singapore and DHI Denmark, but land-based testing of BWMS will continue only at DHI’s land-based test facility in Denmark. (Green4Sea: Click here)


Baltic Dry Index 1,219 1,125 +94 +8.4% 685 – 1,743
BRENT ($/bbl) 70.2 68.6 +1.6 +2.3%
WTI ($/bbl) 65.4 63.2 +2.1 +3.4%
MGO ROTTERDAM ($/bbl) 611.0 602.0 +9.0 +1.5%
MGO  FUJAIRAH ($/bbl) 672.5 659.5 +13.0 +2.0%
MGO SINGAPORE ($/bbl) 621.0 609.0 +12.0 +2.0%
IFO 180 ROTTERDAM ($/bbl) 407.0 404.0 +3.0 +0.7%
IFO 180 FUJAIRAH ($/bbl) 440.0 434.0 +6.0 +1.4%
IFO 180 SINGAPORE  ($/bbl) 426.0 419.0 +7.0 +1.7%
EUR-USD 1.24 1.22 -0.02 -1.7%
GBP-USD 1.42 1.39 -0.03 -2.2%
USD-JPY 108.58 110.77 +2.19 +2.0%
USD-KRW 1064.01 1065.90 +1.89 +0.2%

Sources: KPI Bridge Oil,,


15 January 2018 - 21 January 2018


Three methods of compliance with 2020 sulphur limit.

As new global regulations put in place lower caps on sulphur emissions (SOx), there are three methods of compliance with the impending reduction in the permitted levels of sulphur emissions that shipowners should be considering, according to a new report by Marsh insurance. (Green4Sea: Click here)

How to minimize the effects of biofouling

The introduction of invasive aquatic species (IAS) as a result from international shipping has been identified as a significant threat to the world’s oceans and coastal ecosystems and research suggests that 70-80% of IAS introductions occur through biofouling. (Green4Sea: Click here)

2017: record year of transhipment for North Sea ports

According to the Port of Amsterdam, the positive economy has led to a 2.5 % increase in the transhipment of goods from the Port to 81.3 million t in 2017. (Dry Bulk Magazine: Click here)

Shipping: Commodities trade trends a sign of positive things to come

China broke yet another record during 2017, importing a historically high amount of iron ore, resulting in a boon for dry bulk market owners. (Hellenic Shipping News: Click here)

New reporting platform for human rights in maritime launched

Human Rights at Sea announced a partnership with the Business and Human Rights Resource Centre, with the launch of the new global platform for recording cases of maritime human rights abuses. (Safety4Sea: Click here)

Capesize FFA Mirrors Physical Market Demise

Capesize FFA Commentary: The morning session saw paper move up with some aggressive pays on cal 18 leading the way. (Hellenic Shipping News: Click here)


Baltic Dry Index 1,139 1,303 -164 -12.6% 685-1,743
BRENT ($/bbl) 69.3 69.3 +0.0 +0.1%
WTI ($/bbl) 64.0 63.8 +0.2 +0.2%
MGO ROTTERDAM ($/bbl) 602.5 601.5 +1.0 +0.2%
MGO  FUJAIRAH ($/bbl) 659.5 656.5 +3.0 +0.5%
MGO SINGAPORE ($/bbl) 606.5 606.0 +0.5 +0.1%
IFO 180 ROTTERDAM ($/bbl) 405.5 404.0 +1.5 +0.4%
IFO 180 FUJAIRAH ($/bbl) 434.0 440.0 -6.0 -1.4%
IFO 180 SINGAPORE  ($/bbl) 418.0 418.5 -0.5 -0.1%
EUR-USD 1.22 1.20 -0.02 -1.7%
GBP-USD 1.39 1.35 -0.05 -2.6%
USD-JPY 111.11 111.26 +0.15 +0.1%
USD-KRW 1,070.46 1,072.18 +1.72 +0.2%


7 January 2018 - 12 January 2018


 Ballast water services extends across eight EU

Ship owners are now able to treat their unmanaged ballast water or load cleaned ballast water in eight different Northern EU ports using Damen’s IMO certified InvaSave ballast water management treatment service. (Greenport: link)

Maritime piracy in 2017 reaches 22-year low, says IMB

A total of 180 incidents of piracy and armed robbery against ships were reported to ICC’s International Maritime Bureau (IMB) in 2017, which is the lowest annual number of incidents since 1995, according to the latest IMB report. (Safety4Sea: link)

Suez Canal Authority Extends Toll Cuts for Dry Bulkers

The Suez Canal Authority has extended the discount offered to dry bulk vesselsback in April 2017 until the end of 2018. (World Maritime News: link)

Libya-Bound Ship Loaded with Explosive Materials Seized in Greek Waters

A Tanzanian-flagged cargo ship Andromeda has been seized by the Greek Coast Guard as an inspection had found that the vessel was carrying materials to Libya intended to make explosives. (World Maritime News: link)

IMO 2020, a shipping regulation that may reshape global coal trade

It is not uncommon for people in various commodity sectors to believe that their markets exist in some kind of a happy bubble, where only the obvious supply and demand forces or targeted regulations can make or ruin their day. ( Hellenic Shipping News: link)

Port of Rotterdam secures two dry infrastructure contracts

On 22 December, Port of Rotterdam Authority signed agreements with two contractors relating to what is known as the port’s dry infrastructure. One contract covers maintenance of the roads in the port and the other, maintenance of the green spaces.( Dry Bulk Magazine: link)

Capesizes’ Rates Rallied 92% in 2017, Panamaxes’ at 64%

 Dry bulk shipowners had longed for this period of time for more than nine years. It was late in 2008, when the market came tumbling down, amid a halt in world trade, as a result of the aftermath of Lehman collapse and its consequences in global economy. (Hellenic Shipping News: link)

Baltic Dry Index 1,303 1,341 -38 685.00 – 1,743.00
BRENT ($/bbl) 69.3 68.1 +1.2 +1.7%
WTI ($/bbl) 63.8 62.0 +1.8 +2.9%
MGO ROTTERDAM ($/bbl) 601.5 582 +20.0 +3.4%
MGO  FUJAIRAH ($/bbl) 657 628.5 +28.0 +4.5%
IFO 180 ROTTERDAM ($/bbl) 404 404.5 -0.5 -0.1%
IFO 180 FUJAIRAH ($/bbl) 440 442 -2 -0.3%

Sources: Bloomberg, Ship & Bunker