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Selected News Headlines 2018/Q4

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (08/10/2018 – 14/10/2018)

Piracy Hits Decadal Lows in Asia

Piracy in Asia has fallen to decadal lows, according to the latest numbers from regional reporting center ReCAAP. The number of actual reported incidents between January and September 2018 were the lowest recorded since the same period in 2009 (excluding attempted incidents). (The Maritime Executive: click here)

USCG: Changes to Alternate Compliance Program

The US Coast Guard released a new Navigation and Vessel Inspection Circular (02-95, Change 3) on “The Alternate Compliance Program (ACP).” This change incorporates various policies and related provisions consistent with the Commandant’s Final Action Memo (FAM) on the sinking of the ‘El Faro’. (Safety4Sea: click here)

Panama Canal has record year

Latin American waterway closes out fiscal year with higher-than-forecast ship volumes, led by boxship crossings. (Tradewinds: click here)

Marshall Islands Confirms No Class Certificate Surcharge

International Registries, Inc. and its affiliates (IRI) has announced that the Republic of the Marshall Islands (RMI) Registry will not follow competitors by levying surcharges and commissions on vessel documents and certificates issued on its behalf by the Classification Societies. The RMI Registry will continue to provide its clients with a transparent pricing structure for the issuance of key certificates needed by shipowners. (Hellenic Shipping News: click here)

Ship Operating costs on downward track

Operating costs that have fallen for six consecutive years are to be welcomed, but ship operators should not become complacent as there are plenty of road-bumps ahead. (Hellenic Shipping News: click here)

Rules of Engagement

Shipowners and charterers need to revisit their charterparties and fuel supply agreements to ensure that they are ‘fit for purpose’ well ahead of the introduction of the 2020 global sulphur cap. (Bunkerspot: click here)

Brazil ag commodities exports to hit record high this year –minister

Brazil is on track to export a record $100 billion worth of agricultural products this year as demand for staple commodities like beef and soybeans from the South American country remain strong, the government said. (Hellenic Shipping News: click here)

Trade War So Far ‘Positive’ for Shipping Companies, But 2019 Looks Less Promising

The US-China trade war has seemed “positive” for transpacific shipping lines, so far, with importers rushing to beat tariff deadlines. But there is growing concern that a prolonged dispute would leave shippers with question marks on whether to reorganise their supply chains. (gCaptain: click here)

Capesize Market Ends Week with a Bang

Capesize: A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. Panamax: Last week the North Atlantic firmed as sustained demand saw a clear out of most of the prompt tonnage. Supramax: A positive week overall with most routes seeing steady gains but US Gulf routes seeing slightly lower levels. Handysize: The BHSI remained positive last week with stronger numbers discussed particularly from the Black Sea-Mediterranean area. (Hellenic Shipping News: click here)

 

 
12.10.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,579
1,536
+43
+2.8%
948-1,774
BRENT ($/bbl)
80.4
85.1
-4.6
-5.4%
WTI ($/bbl)
71.3
74.8
-3.5
-4.7%
MGO ROTTERDAM ($/mt)
703.5
708.5
-5.0
-0.7%
MGO  FUJAIRAH ($/mt)
794.0
793.0
+1.0
+0.1%
MGO SINGAPORE ($/mt)
743.0
755.0
-12.0
-1.6%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
662.5
686.5
-24.0
-3.5%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
739.5
761.0
-21.5
-2.8%
IFO 180 ROTTERDAM ($/mt)
511.0
529.5
-18.5
-3.5%
IFO 180 FUJAIRAH ($/mt)
557.5
577.0
-19.5
-3.4%
IFO 180 SINGAPORE  ($/mt)
543.0
546.0
-3.0
-0.5%
EUR-USD
1.16
1.15
-0.01
-0.9%
GBP-USD
1.32
1.31
-0.01
-0.8%
USD-JPY
112.21
113.72
+1.51
+1.3%
USD-KRW
1131.27
1130.50
-0.77
-0.1%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com
29 September 2018 - 08 October 2018

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (29/09/2018 – 08/10/2018)

Managing Ships or Managing Regulations

Speaking at an INTERCARGO event in London this week, Chairman John Platsidakis asked “Are we managing ships or are we managing regulations? “We were supposed to do the first, but I am afraid we are mostly doing the second! By the time we conclude one regulation, another one appears in the scene.” (Maritime Executive: click here)

Intercargo chairman aims parting shots at regulators

Outgoing Intercargo chairman John Platsidakis took a number of swipes at regulators during his farewell speech at the International Association of Dry Cargo Shipowners’ agm in London this week. (Seatrade: click here)

Intercargo elects Dimitris Fafalios as chairman

Intercargo chooses its technical committee chairman Dimitris Fafalios from Fafalios Shipping to lead it from January 1, replacing John Platsidakis who has been chairman for the past six years and has reached the three-term maximum appointment length. The dry bulk owners’ body has expressed dismay at regulators’ ‘lack of understanding’ of how the industry works and has called for charterers, refineries, shipyards and engine-builders to be more involved in meeting emission reduction targets. (Lloyd’s List: click here)

Singapore plans to tighten controls in maritime fuel industry

Singapore plans to apply stricter control measures to the marine fuels sector, a move that industry sources say could boost transparency in a notoriously opaque industry. (Bunker Ports News: click here)

Scrubbers in numbers: 983 vessels have opted for EGCS

Scrubber uptake is rapidly accelerating with the number of ships with exhaust gas cleaning systems installed or on order standing at 983 as of 31 May 2018, according to a survey by the Exhaust Gas Cleaning Systems Association (EGCSA). (Safety4Sea: click here)

Procedures: How to maintain food hygiene onboard

Food onboard is considered as a critical welfare issue for crew members. A healthy, nutritious and low-fat food program provides seafarers with the required energy to perform their duties, protect their health and fight any fatigue symptoms. On the other hand, if not handled properly onboard, food can be a significant cause of diseases and foodborne outbreaks. (Safety4Sea: click here)

Plastic Waste in the World’s Oceans Could Double by 2030, IEA Warns

The total amount of oceanic plastic waste is likely to more than double by 2030, and then keep getting worse, if action isn’t taken now, according to projections by the Paris-based organization in a report published Friday… An estimated 80 percent of the plastic in the ocean is derived from land-based sources, as opposed to fisheries and ships. (gCaptain: click here)

UNCTAD – Maritime transport review 2018

The Review of Maritime Transport is a recurrent publication prepared by the United Nations Conference on Trade and Development (UNCTAD) secretariat since 1968 with the aim of fostering the transparency of maritime markets and analysing relevant developments. It remains the single, most important global review of the Maritime Industry. (Maritime Cyprus: click here)

Bulk owners are optimistic, but say dangers still lurk

Dry bulk operators are optimistic about the industry’s future, but say dangers still lurk that could derail the recovery. (Tradewinds: click here)

Indian Iron ore imports zoom 190% to 6.34 mt in Apr-Aug over domestic price hikes

Iron ore imports into the country zoomed 190 per cent to 6.34 million tonnes (mt) during April-August, the first five months of this financial year. (Hellenic Shipping News: click here)

 Atlantic Panamax grains freight hits near 4-year high on bunkers

Panamax grains cargo freight rates from the East Coast of South America have reached near four-year highs and are set to go even higher in mid-October as bunker fuel prices continue to soar, market sources said. (Hellenic Shipping News: click here)

Chinese soybean tariff creates ‘new and unusual trades’

Chinese tariffs on US soybean imports have created new and unusual trades with alternative export markets opening up. (Tradewinds: click here)

 Dry Bulk Market: Capesizes Waiting for China’s Return from the Holidays

Capesize: It was a surprising start to the week, with rates moving in some key areas despite a week of Asian holidays, although some moves were attributed to draft issues and rising bunker values. Panamax: Last week defied expectation, with a long holiday in China many expected a slow week with little excitement. Supramax: Despite widespread holidays mainly affecting the Asian market, generally rates remained firm. Handysize: Continuing the positive trend from September, the BHSI climbed throughout the week despite the holidays in Asia and Germany. (Hellenic Shipping News: click here)

 

 
05.10.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,536
1,540
-4
-0.3%
948-1,774
BRENT ($/bbl)
85.1
82.7
+2.3
+2.8%
WTI ($/bbl)
74.8
73.3
+1.6
+2.2%
MGO ROTTERDAM ($/mt)
708.5
680.5
+28.0
+4.1%
MGO  FUJAIRAH ($/mt)
793.0
783.0
+10.0
+1.3%
MGO SINGAPORE ($/mt)
755.0
738.0
+17.0
+2.3%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
686.5
670.5
+16.0
+2.4%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
761.0
731.5
+29.5
+4.0%
IFO 180 ROTTERDAM ($/mt)
529.5
494.5
+35.0
+7.1%
IFO 180 FUJAIRAH ($/mt)
577.0
545.0
+32.0
+5.9%
IFO 180 SINGAPORE  ($/mt)
546.0
527.5
+18.5
+3.5%
EUR-USD
1.15
1.16
+0.01
+0.9%
 GBP-USD
1.31
1.30
-0.01
-0.8%
USD-JPY
113.72
113.70
-0.02
0.0%
USD-KRW
1130.50
1109.30
-21.20
-1.9%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com