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Selected News Headlines 2018/Q2

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (16/04/2018-23/04/2018)

ExxonMobil readies release of 2020 bunkers –US-based integrated oil companies is one of the few oil majors to invest in needed upgrades for IMO-ready fuel. (TradeWinds- click here)

Piracy attacks on the rise in west Africa –The International Maritime Bureau has warned of a surge in armed attacks against ships off the coast of west Africa, accounting for more than 40% of global piracy levels in the first quarter of the year. (Fairplay- click here)

Ports urged to take greater role in reducing shipping emissions – Think tank the International Transport Forum says about one-third of the world’s 100 leading cargo ports currently operate emissions reduction financial incentive schemes, but that very little is known about the effects they have on shipping emissions. (Fairplay- click here)

U.S. sorghum armada U-turns at sea after China tariffs – Several ships carrying cargoes of sorghum from the United States to China have changed course since Beijing slapped hefty anti-dumping deposits on U.S. imports of the grain, trade sources and a Reuters analysis of export and shipping data showed. (Hellenic Shipping News – click here)

Handysize bulker shipowners point to tightening market – Chinese and international handysize owners say the sector is neglected by big financial players and Chinese state-owned shipping giants as well — and ‘maybe that’s a good thing’. Handysize and supramax newbuilding deliveries have fallen short by as much as 45% this year, from an orderbook that is modest to start with. That shortfall, along with regulatory uncertainty and a lack of investor interest compared with other sectors, will keep the handysize market tight in the coming months. (TradeWinds – click here)

Dry Bulk Market Charges Back – Capesize: This week has seen the Cape 5 timecharter weighted average almost double. Panamax: Period interest continued, despite the disparity with spot rates, with the ongoing improvement in the Cape market further boosting the sentiment.  Supramax: Overall a week lacking activity in the Atlantic, but some suggested a floor might have been found in certain areas.  Handysize: The Pacific basin saw a continuous fall throughout the week, and the negative sentiment continued in the US Gulf, while the rates struggled to push up further from East coast South America. (Hellenic Shipping News – click here)

Baltic Dry Index climbs to 1281, up 80 points – Today, Friday, April 20 2018, the Baltic Dry Index climbed by 80 points, reaching 1281 points. (Hellenic Shipping News – click here)

 

20.04.2018 WEEK AGO WEEKLY CHANGE WEEKLY CHANGE % 52 Week Range
Baltic Dry Index 1,281 1,014 +267 +26.3% 818 – 1,743
BRENT ($/bbl) 74.06 72.2 +1.9 +2.6%
WTI ($/bbl) 68.38 67.0 +1.3 +2.0%
MGO ROTTERDAM ($/bbl) 635 617.0 +18 +2.9%
MGO  FUJAIRAH ($/bbl) 693.0 693.0 +0.0 +0.0%
MGO SINGAPORE ($/bbl) 650.5 647.5 +3.0 +0.5%
IFO 180 ROTTERDAM ($/bbl) 414.5 408.0 +6.5 +1.6%
IFO 180 FUJAIRAH ($/bbl) 448.5 446.0 +2.5 +0.6%
IFO 180 SINGAPORE  ($/bbl) 432.5 425.0 +7.5 +1.8%
EUR-USD 1.23 1.23 +0.00 +0.3%
 GBP-USD 1.40 1.42 +0.02 +1.7%
USD-JPY 107.66 107.35 -0.31 -0.3%
USD-KRW 1067.15 1069.72 +2.57 +0.2%

Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com

 

09 April 2018 - 16 April 2018

 

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (09/04/2018-16/04/2018)

INTERCARGO on IMO’s initial strategy for the reduction of GHG from ships – INTERCARGO welcomes the landmark initial strategy for the reduction of Greenhouse Gas (GHG) from ships adopted by IMO. We firmly believe that IMO is the appropriate body to address the global challenge of GHG emissions, as the competent authority to do so. (INTERCARGO click here)

IMO reaches historic CO2 reduction deal –  Shipping must cut carbon emissions by 50% by 2050 and improve efficiency. (Tradewinds news click here)

Shipping’s climate strategy was a hard-won battle, but now the real work begins – The IMO has agreed to halve emissions by at least 50% before 2050. Now the hard work begins. (Lloyd’s List click here)

Scrubbers seen losing favour as solution to 2020 sulphur cap – The topic of the 2020 sulphur cap and related issue of scrubbers was prominent at the Marine Money Hong Kong Ship Finance Forum despite it being a mainly finance-based event, suggesting its prominence in the considerations of industry players. (Seatrade-Maritime click here)

IMO Moves to Ban HFO from Arctic Shipping – Member states of the International Maritime Organization (IMO) have committed to developing a ban on heavy fuel oil (HFO) from Arctic shipping, along with an assessment of the impact of such a ban. (World Maritime News click here)

Pelindo II to build new port in Kalimantan – Indonesian state-owned port operator Pelindo II is planning to develop a new port at Pantai Kijing to serve Kalimantan as the current Pontianak Port in West Kalimantan suffers from heavy siltation as well as has limited scope to expand due to space constraints. (Seatrade-Maritime click here)

Commission approves Portuguese tonnage tax and seafarer scheme (Hellenic Shipping News click here)

Baltic Dry Index climbs to 1014, up 21 points – Friday, April 13 2018, the Baltic Dry Index climbed by 21 points, reaching 1014, points. (Hellenic Shipping News click here)

  13.04.2018 WEEK AGO WEEKLY CHANGE WEEKLY CHANGE % 52 Week Range
Baltic Dry Index 1,014 948 +66 +7.0% 818 – 1,743
BRENT ($/bbl) 72.16 67.1 +5.1 +7.5%
WTI ($/bbl) 67.04 62.1 +5.0 +8.0%
MGO ROTTERDAM ($/bbl) 617 594.5 +22.5 +3.8%
MGO  FUJAIRAH ($/bbl) 693.0  
MGO SINGAPORE ($/bbl) 647.5 614.0 +33.5 +5.5%
IFO 180 ROTTERDAM ($/bbl) 408.0 395.5 +12.5 +3.2%
IFO 180 FUJAIRAH ($/bbl) 446.0 451.0 -5.0 -1.1%
IFO 180 SINGAPORE  ($/bbl) 425.0 412.0 +13.0 +3.2%
EUR-USD 1.23 1.23 -0.01 -0.4%
GBP-USD 1.42 1.41 -0.01 -1.0%
USD-JPY 107.35 106.93 -0.42 -0.4%
USD-KRW 1069.72 1069.62 -0.10 0.0%

Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com

04 April 2018 - 09 April 2018

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO  (04/04/2018-09/04/2018)

Flag states putting lives at risk by failing to report bulk carrier casualty investigations – Reports on bulker casualties are not being made public even when lives are lost at sea and the findings could prevent future tragedies. Investigations into 29 of the 53 losses of bulk carriers over 2008-2017 which resulted in the deaths of 202 crew have never been reported to the International Maritime Organization (Lloyd’s List click here)

IMO: Next Step in GHG Emissions Cut Should Not Be Postponed – Postponing the adoption of the Initial Strategy on reducing GHG emissions from ships to a future session of MEPC should not be an option, according to the International Maritime Organization. (World Maritime News click here)

USCG guidance on ballast water management – Further to the Club’s previous web alert on the U.S. Ballast Water Management Regulations, the United States Coastguard (USCG) has recently issued updated and comprehensive guidance to assist with understanding and ensuring compliance with the requirements: (Hellenic Shipping News click here)

MOL trials special cool suits for crew – Just ahead of the summer, Mitsui OSK Lines (MOL) has started the trial introduction of specialized cooling-work suits for crewmembers developed by composites and materials group Teijin. (Seatrade Maritime click here)

Hamburg Süd conducts low-sulphur pilot project – HAMBURG Süd has carried out a pilot project to reduce sulphur dioxide emissions in ports, with a ship burning marine gas oil instead of the standard heavy fuel oil while at berth. (Daily Cargo News click here)

  06.04.2018 WEEK AGO WEEKLY CHANGE WEEKLY CHANGE % 52 Week Range
Baltic Dry Index 948  – –   –  948 – 948
BRENT ($/bbl) 67.11  –
WTI ($/bbl) 62.06 –   –
MGO ROTTERDAM ($/bbl) 594.5 605.0 -10.5 -1.7%
MGO  FUJAIRAH ($/bbl)  – 678.0 – 
MGO SINGAPORE ($/bbl) 614.0 617.5 -3.5 -0.6%
IFO 180 ROTTERDAM ($/bbl) 395.5 393.0 +2.5 +0.6%
IFO 180 FUJAIRAH ($/bbl) 451.0 441.5 +9.5 +2.2%
IFO 180 SINGAPORE  ($/bbl) 412.0 411.5 +0.5 +0.1%
EUR-USD 1.23 1.23 +0.00 +0.3%
GBP-USD 1.41 1.40 -0.01 -0.5%
USD-JPY 106.93 106.28 -0.65 -0.6%
USD-KRW 1069.62 1063.63 -5.99 -0.6%

Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com