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Selected News Headlines 2018/Q3

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (10/09/2018 – 16/09/2018)

West of England highlights risks of nickel ore carriage after near-miss

Last October, the Emerald Star bulker sank following liquefaction of nickel ore. A recent near-miss incident on a vessel en route to China after loading in the Philippines has prompted the West of England club to remind its members of the risks (Lloyd’s List: click here)

Search for Stellar Daisy wreck: We may not succeed but we have to try

It is a long shot, but finding the wreck of the sunken VLOC might reveal why it suddenly sank in the middle of the Atlantic and could give answers that help prevent a repeat of the disaster (Tradewinds: click here)

Contaminated bunkers – “The Houston Problem”

The problem started with fuel supplied in the US Gulf region, particularly in the Houston area, but the problems quickly spread to Panama. More recently, similar problems have been encountered with fuel supplies out of Singapore. (Hellenic Shipping News: click here)

IACS updates guidance on bulk cargo loading and discharging

The shipping industry is highly concerned with the possible damage and loss of bulk carriers carrying heavy cargoes. In July 2018, IACS revised ‘Recommendation 46’ referring to Bulk carriers loading and discharging to reduce the likelihood of over-stressing the hull structure in order to raise further awareness on the potential associated risks. (Safety4Sea: click here)

 Capesize slow steaming effect diluted by spike in scrubber uptake

A spike in shipowners turning to scrubbers is reducing the likely impact of slow steaming on the capesize market when new regulations kick in at the start of 2020, DNB Markets says. The bank, which has raised its capesize rate forecasts for the next two years, believes the exhaust cleaning systems represent a good investment for shipowners. (Tradewinds: click here)

Dry Bulk Market is – So Far – Unaffected by the US-China Trade Battles

While it’s a bit difficult to expect this trend persisting, it’s becoming clear that the trade war between the US and China hasn’t dented the dry bulk market’s upwards momentum, thanks, in part to a boom in soybeans trade involving Brazil and the balance between tonnage supply and demand. (Hellenic Shipping News: click here)

Global oil demand to top 100 mln bpd: Tightening up on the way

Since the previous edition of this Report, the price of Brent crude oil fell close to $70/bbl and is now flirting with $80/bbl. Two reasons for the swing are that Venezuela’s production decline continues, and we are approaching 4 November when US sanctions against Iran’s oil exports are implemented. (Bunker Ports News: click here)

 Dry Bulk Market: Negative Sentiment Sips In

Capesize: The Capesize market fell sharply across all areas with the positive sentiment for the fourth quarter being eroded. Panamax: Overall, a generally flat market remained last week despite the pressure from a falling paper market and slashed Cape rates. Supramax: A mixed week with some areas making gains, whilst others had support. Period trading was limited with a gap widening between owners and charterers, but brokers suggested that well-described Ultramaxes were fixing one year periods in the low teens. Handysize: The overall Handy index stayed in positive territory last week. Brokers noted more cargoes in the US Gulf with the tonnage list still tight. EC South America improved further, whilst the Pacific market also picked up significantly from midweek. (Hellenic Shipping News: click here)

 

 
14.09.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,366
1,490
-124
-8.3%
948-1,774
BRENT ($/bbl)
78.5
77.2
+1.3
+1.7%
WTI ($/bbl)
69.0
68.6
+0.4
+0.6%
MGO ROTTERDAM ($/mt)
656.0
656.0
0.0
0.0%
MGO  FUJAIRAH ($/mt)
751.5
745.5
+6.0
+0.8%
MGO SINGAPORE ($/mt)
696.0
695.0
+1.0
+0.1%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
621.5
628.5
-7.0
-1.1%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
700.0
700.0
0.0
0.0%
IFO 180 ROTTERDAM ($/mt)
467.5
456.5
+11.0
+2.4%
IFO 180 FUJAIRAH ($/mt)
538.5
528.5
+10.0
+1.9%
IFO 180 SINGAPORE  ($/mt)
496.5
490.0
+6.5
+1.3%
EUR-USD
1.16
1.16
0.00
0.0%
 GBP-USD
1.31
1.29
-0.02
-1.6%
USD-JPY
112.06
110.99
-1.07
-1.0%
USD-KRW
1116.83
1122.81
+5.98
+0.5%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com
01 September 2018 - 09 September 2018

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (01/09/2018 – 09/09/2018)

South Korea delays release of Stellar Daisy report

The maritime industry is eagerly awaiting the accident investigation report after the converted very large ore carrier sank in high seas off Uruguay in March last year. SOUTH Korea is delaying publication of the Stellar Daisy accident investigation report carried out by the Marshall Islands registry, citing the need for more time to study its findings. (Lloyd’s List: click here)

Operational problems continue with Ballast Water Treatment Systems: ABS

Early adopters of ballast water treatment systems continue to experience operational problems, delegates heard at the gmec (global marine environmental congress) organised by SMM in co-operation with Seatrade in Hamburg this week. (Seatrade Maritime News: click here)

IMO drawing up guidelines on implementation of 2020 global sulphur cap

The IMO is working with its Member States and the shipping industry “to identify and mitigate transitional issues” surrounding introduction of the global sulphur cap in January 2020, delegates were told at the 5th biennial gmec (global maritime environment congress) taking place at the SMM trade show in Hamburg this week. (Seatrade Maritime News: click here)

Marine fuel – a toxic mix?

The marine fuel supply chain is facing renewed challenges. Various port authorities have cracked down on some bunker suppliers and removed their licences. More recently, attempts by some suppliers to blend with cutter stock or shale oil to meet minimum ISO specifications for fuel intended for trading vessels, have resulted in numerous engine breakdowns at sea, due to damaged or blocked fuel injection valves and filters requiring replacement. (Bunker Port News: click here)

Tainted Bunker Fuel Sparks Calls for Tighter Quality Control in Shipping

A wave of contaminated fuel that has clogged and damaged engines on hundreds of oil tankers and container vessels in the past months has pushed shippers to demand stricter quality controls around the world. The calls are shining a light on the notoriously opaque shipping fuel sector, where any contamination can spread quickly and be difficult to trace back to its source. (gCaptain: click here)

INTERCARGO: Ammonium Nitrate should not be treated as group C

Following  the investigation report of the 2012 built supramax bulk carrier M/V CHESHIRE which was issued by the  Isle of Man Ship Registry, INTERCARGO urges IMO to reconsider how Ammonium Nitrate Based Fertilizer should be designated in the IMSBC Code. Currently, the Ammonium Nitrate Based Fertilizer is listed as a group C cargo, however, the accident showed that this cargo, or at least some of the ammonium nitrate based fertilizers shipped as this cargo, should treated  differently under the IMSBC Code. (Safety4Sea: click here)

China Ranks as Top Maritime Nation in the World, Report Says

China is the world’s top shipping nation, followed by United States and Japan in the second and third spots, respectively, according to a new report released this week DNV GL and Menon Economics. The report, titled “The Leading Maritime Nations of the World”, was presented at the SMM trade fair in Hamburg, Germany. (gCaptain: click here)

Setback in world trade after strong July data

After a strong gauge in July, the new data show a negative trend. The sharpest slowdown is expected for emerging markets, which are most exposed to any impact from rising trade tensions. In September, a major setback in exports is expected in South Korea, Japan, Taiwan, India, and Brazil. (Hellenic Shipping News: click here)

Baltic Dry Index climbs to 1490, up 6 points

Today, Friday, September 7 2018, the Baltic Dry Index climbed by 6 points, reaching 1490 points. (Hellenic Shipping News: click here)

Dry Bulk Market: Capesizes Under Pressure

Capesize: Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to look for a strong fourth quarter. Panamax: After a hesitant start last week, the Atlantic market succumbed to the lengthening tonnage profile, with voyage fixtures becoming prevalent and Owners discounting the shorter trips to buy some more time. Supramax: A lacklustre week on BSI, which overall remained relatively static. There was very little period activity recorded, with a large gap between Owners and Charterers expectations. Handysize: The BHSI climbed to 565 last Thursday, a number not seen since early July. Ships trading from EC South America saw a touch more hope and the improvement in the Pacific was visible in the middle of the week, after rates being flat in the past few weeks. (Hellenic Shipping News: click here)

 

 
07.09.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,490
1,579
-89
-5.6%
948-1,774
BRENT ($/bbl)
77.2
77.4
-0.2
-0.3%
WTI ($/bbl)
68.6
69.8
-1.2
-1.7%
MGO ROTTERDAM ($/mt)
656.0
652.5
+3.5
+0.5%
MGO  FUJAIRAH ($/mt)
745.5
747.5
-2.0
-0.3%
MGO SINGAPORE ($/mt)
695.0
691.5
+3.5
+0.5%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
628.5
633.5
-5.0
-0.8%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
700.0
697.0
+3.0
+0.4%
IFO 180 ROTTERDAM ($/mt)
456.5
475.0
-18.5
-3.9%
IFO 180 FUJAIRAH ($/mt)
528.5
535.5
-7.0
-1.3%
IFO 180 SINGAPORE  ($/mt)
490.0
501.5
-11.5
-2.3%
EUR-USD
1.16
1.16
0.00
0.0%
GBP-USD
1.29
1.30
+0.01
+0.8%
USD-JPY
110.99
111.03
+0.04
0.0%
USD-KRW
1122.81
1113.07
-9.74
-0.9%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com
01 August 2018 - 31 August 2018

SELECTED AUGUST NEWS BY INTERCARGO (01/08/2018 – 31/08/2018)

The 2020 sulphur cap – Why you need to review your charter parties

When it comes to the impact of the 2020 sulphur cap operational and regulatory issues have received a lot of attention, but there is also a commercial angle an North P&I is highlighting the possibilities of disputes and losses from charter party agreements. (Seatrade: click here)

Flow of contaminated bunkers puts focus on testing practices

Recent bunker contamination scandals in Singapore and the US Gulf should focus the sector’s attention on ensuring a more rigorous testing regime, and clear contracts between those involved, write Toby Stephens and Paul Dean from law firm HFW. (Tradewinds: click here)

Fuel contamination crisis may be a foretaste of 2020 problems

Trouble caused by bunkers in Houston and Singapore is an indication of what could lie ahead when the new global sulphur limit kicks in. The IMO should listen to shipowners’ concerns. (Tradewinds: click here)

Ship Management – Sulphur Emissions, the clock is ticking

Marpol Annex VI Regulation 14.1.3 will come into force on 1 January 2020 requiring vessels to comply with the 0.5% SOX emissions limit worldwide other than in Emission Control Areas [ECA] to which the existing 0.1% limit will continue to apply. With less than 18 months to go before implementation of one of the most wide-ranging measures to affect the majority of the world’s merchant fleet, it may be helpful to identify some of the potential issues arising in consequence. (Maritime Cyprus: click here)

Proper ECDIS settings in navigational waters

Industry stakeholders have discussed a lot about the pros and cons of paperless navigation concluding that ECDIS does have an edge over the traditional paper chart navigation. However, the question for the navigating officers remains the same. Can they steer the vessel, following a pre scheduled passage plan, within the safety margins that they set, from berth to berth, avoiding grounding? At this point, it is worth to mention the passage plan’s main purpose which is to use the available ‘navigational waters’ for the indented voyage so that the vessel could safely conduct the voyage. (Safety4Sea: click here)

The Ocean Cleanup: Countdown Begins

On September 8, The Ocean Cleanup foundation will launch the world’s first ocean cleanup system from its assembly yard in Alameda, through the San Francisco Bay, toward the infamous Great Pacific Garbage Patch.

As informed, the assembly of System 001 will be finalized on August 30, after which it will be lowered into the Seaplane Lagoon. (World Maritime News: click here)

ICC-IMB report: World-Wide incidents of piracy and armed robbery against ships from Jan-June 2018 show persistent piracy risk in Gulf of Guinea

A total of 107 incidents were reported to the IMB Piracy Reporting Centre (PRC) in the first six months of 2018. In total, 69 vessels were boarded, with 23 attempted attacks, 11 vessels fired upon and four vessels hijacked. No vessels were reported as hijacked in the second quarter. (Maritime Cyprus: click here)

European Union flag scrapping deadline to stay, says commissioner

European Commissioner Karmenu Vella has ruled out delaying the end-of-year deadline which will prevent owners scrapping European Union flag ships in most of the Indian sub-continent. (Tradewinds: click here)

Dubai joins elite top five hubs in latest International Shipping Centre Development Index

Dubai has reached a new milestone in its strategy for leadership in the international maritime sector after being selected as one of the world’s top five hubs in the International Shipping Centre Development Index (ISCD). (Bunker Ports News: click here)

Newbuilding Activity Limited But Expected to Revive Soon

As the summer lull nears its end, market participants expect the newbuilding ordering activity to pick up. In its latest weekly report, shipbroker Allied Shipbroking commented that “observed activity over the past two weeks was rather limited in the newbuilding market, with few new contracts coming into the spotlight. (Hellenic Shipping News: click here)

 Dry Bulk Market (27/08): Rates Retreat on Oversupply of Tonnage on Offer

Capesize: The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a late summer feel with a nearby over supply of tonnage, but many considered the ground lost would be regained. Panamax: In contrast, the Singapore holiday had very little impact on Panamax to Kamsarmax trading in a very busy week, with rates improving across the board. The North Atlantic mineral trades remained very active, particularly for coal cargoes from northern Europe to the Baltic, with tonnage tight and rates firming. Supramax: Increased trading was evident towards the end of the week once Singapore returned to the market Thursday after the holiday. The EC South America and Black Sea remained steady, whilst the USG appeared to be edging down, especially for prompt tonnage. Handysize: The trend set at the beginning of the week continued with the Atlantic remaining firm, but weak in the Pacific. Brokers suggested that the current stronger rates for Supramaxes could spill over to the smaller sizes and the positive sentiment would hold for slightly longer. (Hellenic Shipping News: click here)

 

 
24.08.2018
27.07
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,697
1,676
+21
+1.3%
948-1,774
BRENT ($/bbl)
75.3
74.4
+0.9
+1.3%
WTI ($/bbl)
68.4
75.4
-6.9
-9.2%
MGO ROTTERDAM ($/mt)
629.0
626.0
+3.0
+0.5%
MGO  FUJAIRAH ($/mt)
734.0
712.0
+22.0
+3.1%
MGO SINGAPORE ($/mt)
673.5
656.5
+17.0
+2.6%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
620.5
607.5
+13.0
+2.1%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
676.0
666.0
+10.0
+1.5%
IFO 180 ROTTERDAM ($/mt)
466.5
472.5
-6.0
-1.3%
IFO 180 FUJAIRAH ($/mt)
529.0
521.0
+8.0
+1.5%
IFO 180 SINGAPORE  ($/mt)
497.0
508.0
-11.0
-2.2%
EUR-USD
1.16
1.17
+0.01
+0.9%
GBP-USD
1.28
1.31
+0.03
+2.3%
USD-JPY
111.24
111.05
-0.19
-0.2%
USD-KRW
1118.92
1118.11
-0.81
-0.1%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com
23 July 2018 - 29 July 2018

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (23/07/2018 – 29/07/2018)

Contaminated bunker fuel sold in Singapore

Adulterated marine fuel that clogs and damages engines has made its way to the world’s largest refuelling hub. Contaminated bunker fuel has been found in Singapore, with a local marine fuel surveyor warning clients that samples of marine fuel had resulted in severe sludging at centrifuges, clogged pipelines and overwhelmed fuel filters. (Tradewinds: click here)

 China’s stricter rules on shipping emissions a boon for IMO 2020 compliance

Tighter rules on shipping emissions around China’s coastlines from the start of next year is a clear sign the world’s No. 2 economy will strive for 100 percent compliance when the global sulphur emissions cap starts in 2020, consultants Wood Mackenzie said on Tuesday. (Hellenic Shipping 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)

Port state control to focus on ship emissions

The Paris MOU, Tokyo MOU, Indian Ocean MOU and Black Sea MOU port state control (PSC) regimes have agreed to focus on the prevention of air pollution by ships during their forthcoming concentrated inspection campaigns (CICs). The CICs will be carried out between 1 September 2018 and 30 November 2018 and the Port State Control Officers (PSCOs) will pay particular attention to visiting ships’ compliance with MARPOL Annex VI during regular PSC inspections. (Bunker Ports News: click here)

OPEC remains key to price recovery through 2040

Though non-OPEC production will ensure supply to 2030, OPEC will need to continue to exploit its available reserves. Despite record-breaking gains in the Permian, strong demand growth and heightened geopolitical risk pushed Brent to USD80/bbl in May. For the market to truly rebalance, OPEC will remain key to price recovery over the short to medium term. (Bunker Ports News: click here)

IMO video on Safety, Security and Green improvements over last 70 years

IMO’s 2018 World Maritime Day will celebrate 70 years of helping international shipping become safer, more secure and develop a greener environmental footprint. A short animated film shows how IMO has developed mandatory international regulations covering almost every aspect of shipping. (Maritime Cyprus: click here)

Emergency Procedures: Necessary steps required in case of power failure

Collisions, contacts and groundings are some of the most usual maritime accidents. There are many factors which may lead to them, such as failures at vessel’s main systems. In the previous articles, we experienced failures at vessel’s main engine and steering. At this point is critical to analyze what happens in the case of power failure. (Safety4Sea: click here)

Capesizes to Deliver the Goods in H2

Capesizes, the most volatile sector of the dry market that reaps the most gains and again faces biggest risks when rates spiral down, are headed for another strong period. (World Maritime News: click here)

Dry Bulk Market: Capesize Index Reached Year-High Prior to Correction

Capesize: After the BCI timecharter average went over $26,000 mid-week, the highest level this year, the market then went into a correction. Panamax: The Atlantic witnessed some positive gains last week driven largely by shorter trips from the North Continent, with vessels fixed in the upper teens via the Baltic and Murmansk to the Continent/Mediterranean. Supramax: The Black Sea area captured most of the spotlight this week, with Ultramax tonnage reportedly fixed over $20,000 to the East and the tonnage supply tight. Handysize: The handy market generally remained weak, but the Mediterranean/Black Sea proved the exception. This was the standout area as demand for grain shipments in particular pushed levels forward. (Hellenic Shipping News: click here)

 

 
27.07.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,676
1,689
-13
-0.8%
933-1,774
BRENT ($/bbl)
74.4
73.2
+1.2
+1.6%
WTI ($/bbl)
75.4
73.3
+2.1
+2.9%
MGO ROTTERDAM ($/mt)
626.0
614.0
+12.0
+2.0%
MGO  FUJAIRAH ($/mt)
712.0
712.5
-0.5
-0.1%
MGO SINGAPORE ($/mt)
656.5
642.5
+14.0
+2.2%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
607.5
601.5
+6.0
+1.0%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
666.0
654.0
+12.0
+1.8%
IFO 180 ROTTERDAM ($/mt)
472.5
458.0
+14.5
+3.2%
IFO 180 FUJAIRAH ($/mt)
521.0
520.5
+0.5
+0.1%
IFO 180 SINGAPORE  ($/mt)
508.0
493.0
+15.0
+3.0%
EUR-USD
1.17
1.17
0.00
0.0%
 GBP-USD
1.31
1.31
0.00
0.0%
USD-JPY
111.05
111.41
+0.36
+0.3%
USD-KRW
1118.11
1133.75
+15.64
+1.4%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com
16 July 2018 - 22 July 2018

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (16/07/2018 – 22/07/2018)

ReCAAP ISC: 10-year low of piracy incidents reported in first half of year

ReCAAP ISC released its Half-Yearly (January to June 2018) Report. Namely, 40 incidents were reported from January to June 2018. This is the lowest number of incidents since 10 years for the same period. It also marks a 15% year-on-year decrease. (Safety4Sea: click here)

UK Maritime and Coast Guard Agency issues Ballast Water Management FAQs (July 2018)

The UK Maritime and Coast Guard Agency (MCA) has published a document containing Frequently Asked Questions on the subject of Ballast Water Management. These address questions on a variety of current topics such as application of regulation to different types of ships, domestic or international, Survey and Certification Requirements, Ballast Water Exchange (BWE) requirements, Ballast Water Treatment Systems (BWTS), Alternatives to meeting the D1 or D2 Standards, handling sediments, and more. (Maritime Cyprus: click here)

New INTERCARGO project to address bulk carrier safe loading/unloading

INTERCARGO, the International Association of Dry Cargo Shipowners, announced the introduction of a new project, from 1 August 2018, through a reporting scheme “INTERCARGO Bulk Carrier Reporting Form (II) – Safe Loading/Unloading at Anchorage”, in a bid to respond to the increasing issues related to safe loading/unloading at anchorage. (Safety4Sea: click here)

Owners face long scrubber queue for 2020

Largest manufacturers booked through end of next year as rush of shipowners want scrubbers ahead of 2020. (Tradewinds: click here)

China gives even younger ships the thumbs down

Authorities tighten grip on import rules as critics argue that the change creates ‘quasi-Jones Act’ conditions for the country’s domestic trade (Tradewinds: click here)

Dry Bulk Market: Capesize Index Slows Down

Capesize: Charterers slowed the pace this week to try and check rates, and, to an extent, succeeded. Panamax: The Atlantic experienced some large gains this week, triggered by a lack of tonnage on the North Continent and significant enquiry from Murmansk and the Baltic. Supramax: More activity was seen as the week progressed from key areas in the Atlantic, whilst rates from the Asian sector moved sideways. Handysize: A flat week for Handysizes, reflected overall in the BHSI, unchanged for two days this week. (Hellenic Shipping News: click here)

Baltic Dry Index climbs to 1689, up 32 points

Today, Friday, July 20 2018, the Baltic Dry Index climbed by 32 points, reaching 1689 points. (Hellenic Shipping News: click here)

 
20.07.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,689
1,666
+23
+1.4%
933-1,743
BRENT ($/bbl)
73.2
73.6
-0.4
-0.5%
WTI ($/bbl)
73.3
70.1
+3.2
+4.5%
MGO ROTTERDAM ($/mt)
614.0
631.0
-17.0
-2.7%
MGO  FUJAIRAH ($/mt)
712.5
708.0
+4.5
+0.6%
MGO SINGAPORE ($/mt)
642.5
656.0
-13.5
-2.1%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
601.5
603.0
-1.5
-0.2%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
654.0
650.5
+3.5
+0.5%
IFO 180 ROTTERDAM ($/mt)
458.0
467.0
-9.0
-1.9%
IFO 180 FUJAIRAH ($/mt)
520.5
510.5
+10.0
+2.0%
IFO 180 SINGAPORE  ($/mt)
493.0
495.0
-2.0
-0.4%
EUR-USD
1.17
1.17
0.00
0.0%
 GBP-USD
1.31
1.32
+0.01
+0.8%
USD-JPY
111.41
112.38
+0.97
+0.9%
USD-KRW
1133.75
1123.36
-10.39
-0.9%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com
09 July 2018 - 15 July 2018

THIS WEEK’S HEADLINES SELECTED BY INTERCARGO (09/07/2018 – 15/07/2018)

 Risk Focus – Engine Room Fires

Considering the wide range of both sources of fuel and sources of ignition within the engine room, it should come as little surprise that a large proportion of fires onboard ships originate there. Engine room fires are one of the most common fires on ships owing to the presence of a wide range of sources of fuel, sources of ignition and running machinery. (Maritime Cyprus: click here)

Loss Prevention – Asian Gypsy Moth guide from West of England club

The Asian Gypsy Moth (AGM) is a highly destructive forest pest that feeds on both deciduous and coniferous trees. The voracious appetite of AGM larvae (caterpillars) coupled with the ability of the female moth to travel up to 21 nautical miles can cause widespread defoliation leaving trees weakened and susceptible to disease and other pests. (Maritime Cyprus: click here)

 Chinese Rescue Diver to Receive IMO Exceptional Bravery At Sea Award

A Chinese rescue diver who led a series of dives to help rescue six crew members from a sunken cargo ship will receive the 2018 IMO Award for Exceptional Bravery At Sea, the International Maritime Organization has announced. (gCaptain: click here)

Addressing seafarer mental health issues: Do’s & Don’ts

Anxiety, social isolation, pressure of work and disturbed sleep, may negatively influence the mental health of seafarers.  Taking care of the mental wellbeing of crew is vital and currently industry places a high priority on the issue.  MLC, 2006 is a landmark convention on crew welfare but not enough; therefore, shipping operators need further policies to promote the health, safety and welfare of seafarers. (Safety4Sea: click here)

IMO – Ship noise negative impacts on humans and marine life

Continuous noise onboard ships can have an adverse impact on human health. IMO adopted, in 2012, a regulation in the International Convention for the Safety of Life at Sea (SOLAS) to require ships to be constructed to reduce on-board noise and to protect personnel from noise, in accordance with the Code on noise levels on board ships. The Code sets out mandatory maximum noise level limits for machinery spaces, control rooms, workshops, accommodation and other spaces on board ships. (Maritime Cyprus: click here)

Newbuilding Orders A Divisive Issue at the Moment

The choice to place an order for a newbuilding vessel, dry bulker or tanker, is dividing opinions at the moment, as ship owners appear to be unable to agree on the shipping markets’ future potential, especially at the current ships’ prices offered by yards. (Hellenic Shipping News: click here)

Dry Bulk Market: Things Are Looking Perky

Capesize: A shaky start to the week in Asia where rates on the key West Australia/China run lost almost 90 cents dropping to $8.30. However, ongoing interest from the miners and operators saw levels regain ground with the expectation of over $9.00 on the cards, with some suggesting timecharter business was done, which equated to $9.10.

Panamax: Like the football, last week was a game of two halves. Rates in the Atlantic took off as a combination of a reduced tonnage supply in the North coupled with increased mineral transatlantic trades and several front haul stems from various alternative loading areas to East coast South America fuelled the bull’s optimism.

Supramax: Another week of diverging markets, with rates in the Atlantic gaining ground whilst the Asian routes lost support. Very limited period activity was discussed although a 63,500-dwt open CJK was failed on subjects at $12,750 for four to six months trading.

Handysize: The handy index slightly recovered and the market began to see a ray of hope especially in the Atlantic. It started from mid-week with more cargo appearing on East coast South America and the US Gulf area, but sentiment in the Pacific was still weak with little reported. (Hellenic Shipping News: click here)

Baltic Dry Index climbs to 1666, up 34 points

Friday, July 13 2018, the Baltic Dry Index climbed by 34 points, reaching 1666 points. (Hellenic Shipping News: click here)

 

 
13.07.2018
WEEK AGO
WEEKLY CHANGE
WEEKLY CHANGE %
52 Week Range
Baltic Dry Index
1,666
1,622
+44
+2.7%
900-1,743
BRENT ($/bbl)
73.6
77.3
-3.8
-4.9%
WTI ($/bbl)
70.1
73.1
-3.0
-4.1%
MGO ROTTERDAM ($/mt)
631.0
644.5
-13.5
-2.1%
MGO  FUJAIRAH ($/mt)
708.0
724.5
-16.5
-2.3%
MGO SINGAPORE ($/mt)
656.0
672.0
-16.0
-2.4%
ULSFO ROTTERDAM, MAX 0.1% SULPHUR ($/mt)
603.0
623.5
-20.5
-3.3%
LSMGO SINGAPORE, MAX 0.1% SULFUR DISTILLATE ($/mt)
650.5
674.5
-24.0
-3.6%
IFO 180 ROTTERDAM ($/mt)
467.0
470.0
-3.0
-0.6%
IFO 180 FUJAIRAH ($/mt)
510.5
520.0
-9.5
-1.8%
IFO 180 SINGAPORE  ($/mt)
495.0
493.5
+1.5
+0.3%
EUR-USD
1.17
1.17
0.00
0.0%
 GBP-USD
1.32
1.33
+0.01
+0.8%
USD-JPY
112.38
110.47
-1.91
-1.7%
USD-KRW
1123.36
1115.86
-7.50
-0.7%
Sources: KPI Bridge Oil, Bloomberg.com, ShipandBunker.com
02 July 2018 - 08 July 2018

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