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Selected News Headlines 2018/Q3

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (02/07/2018 – 08/07/2018)

Maritime Industry releases the Global Counter Piracy Guidance

Piracy and armed robbery at sea is an organised and persistent criminal activity prevalent in many parts of the world. Attackers are often aggressive and subject their victims to violence and ill treatment. Ships have been hijacked, either for a ransom payment for the release of captive seafarers, theft of cargo or both. Some seafarers have been held hostage for several years. (Maritime Cyprus: click here)

Emergency Procedures: How to act during a cargo shifting

Load shifting is a commonly dangerous situation for ships carrying solid cargo, bulk cargo ships and containerships.  A good seamanship and compliance to safety regulations while loading or trimming, are some of the factors that should be considered before operations start. (Safety4Sea: click here)

Manning costs rising on trade recovery and officer supply shortage

Cost growth returned to seafaring in 2018 and is projected to accelerate moderately on recovering vessel earnings and continued shortfall in officer numbers, according to the latest Manning Annual Review and Forecast report published by global shipping consultancy Drewry. (Hellenic Shipping News: click here)

MLC in the PSC spotlight

Since MLC came into force in August 2013, a lot of inspections have been conducted on items related to working & living conditions of seafarers such as the payment of wages, the provision of food &catering on board and liability issues. ILO has issued a main guidance respectively for PSCOs who are responsible for conducting MLC inspections onboard vessels; the MELCBS/2008/12 Guidelines is a six chapters document which analyses each article of the Convention, providing examples for guidance. Paris MoU and AMSA are two regions which appear to conduct thoroughly PSC inspections with respect to MLC implementation. (Safety4Sea: click here)

 Completion of World’s Largest Sea Lock Delayed

The completion of the sea lock at the North Sea Canal entrance in IJmuiden, the Netherlands, has been delayed for 27 months. (World Maritime News: click here)

Dry Bulk Market: Capesizes Enjoy Week of Significant Gains

Capesize: A punchy week for the big ships that saw Atlantic rates soar, with the tonnage list tight prompting charterers to split cargoes, though, mostly unsuccessfully. Panamax: The Atlantic tonnage list continued to tighten last week, and sentiment was further helped by the appearance of several Cape splits entering the market, as rates there rose rapidly. But more than once charterers found themselves unable to make the business work on smaller ships. Supramax: A mixed week with a growing tonnage lists in Asia putting rates under downward pressure at the end of last week. In contrast, from the Atlantic there was limited activity reported, but as the week closed out certain areas saw a tightening of tonnage especially in the US Gulf and Mediterranean areas. (Hellenic Shipping News: click here)

Baltic Dry Index climbs to 1622, up 10 points

Today, Friday, July 06 2018, the Baltic Dry Index climbed by 10 points, reaching 1622 points. (Hellenic Shipping News: click here)

 

 
06.07.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,622
1,385
+237
+17.1%
820-1,743
BRENT ($/bbl)
77.3
79.4
-2.1
-2.7%
WTI ($/bbl)
73.1
74.2
-1.0
-1.4%
MGO ROTTERDAM ($/mt)
644.5
627.5
+17.0
+2.7%
MGO  FUJAIRAH ($/mt)
724.5
737.0
-12.5
-1.7%
MGO SINGAPORE ($/mt)
672.0
668.5
+3.5
+0.5%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
623.5
632.0
-8.5
-1.3%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
674.5
670.0
+4.5
+0.7%
IFO 180 ROTTERDAM ($/mt)
470.0
474.5
-4.5
-0.9%
IFO 180 FUJAIRAH ($/mt)
520.0
518.0
+2.0
+0.4%
IFO 180 SINGAPORE  ($/mt)
493.5
501.0
-7.5
-1.5%
EUR-USD
1.17
1.17
0.00
0.0%
 GBP-USD
1.33
1.33
0.00
0.0%
USD-JPY
110.47
109.97
-0.50
-0.5%
USD-KRW
1115.86
1107.53
-8.33
-0.8%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com