Maritime News Round Up – Issue 27

02 - 06 November 2020

27 days ago

Bunkering

MABUX: Bunker market this morning, Nov.06

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) continued slight upward trend on Nov.05:

380 HSFO – USD/MT – 296.50 (+3.11)
VLSFO – USD/MT – 345.00 (+6.00)
MGO – USD/MT – 404.89 (+1.62)  

Meantime, world oil indexes declined slightly on Nov.05 with attention turning back to the ongoing rise in COVID-19 cases around the world, underlining worries about energy demand as economies slow. Mabux

RPT-Fuel oil outshines other refined products in Asia on tight supply, demand recovery 

Asian refiners’ profit from producing very low sulphur fuel oil (VLSFO) climbed to six-month highs this week as output cuts keep supplies tight while demand for the shipping fuel at most ports are back at pre-pandemic levels, traders and analysts said. Reuters 

Euronav changes VLSFO stockpile strategy again  

Tanker owner Euronav has resumed drawing down the stocks of VLSFO it built up last year at higher prices the company said Thursday. Ship & Bunker

Decarbonisation

The global hub for trading natural gas moves to the Netherlands

The Dutch natural gas market is reinforcing its position as one of the most important trading hubs in the world. Trade on the Dutch Title Transfer Facility, as the market is known, is surging as Europe increased imports from Russia, Norway and further afield via liquefied natural gas tankers. Natural gas futures open interest, a tally of outstanding contracts on the Intercontinental Exchange Inc., are at an all-time high in data going back to 2005. Bloomberg 

World’s first LPG-fueled very large gas carrier completes sea trials

The world’s first liquefied petroleum gas-powered Very Large Gas Carrier (VLGC) has successful complete sea trials and is readying for its return to service. G Captain 

Wah Kwong to buy carbon credits generated from Indian wind farms

Hong Kong bulk shipping operator Wah Kwong Shipping has entered into a memorandum of understanding with CLP Innovation Enterprises, a wholly owned unit of Hong Kong power utility CLP Holdings, to promote decarbonisation in the shipping industry. Splash247 

Bill Gates joins nuclear-powered shipping push

Bill Gates, one of the richest men in the world, has turned his attention to getting ships powered by nuclear energy. The Microsoft co-founder, who turned 65 last week, is also chairman of TerraPower, a nuclear tech company that today announced a new venture with Mikal Bøe’s CORE POWER, French nuclear materials handling specialist Orano and American utilities firm Southern Company. The four companies plan to develop molten salt reactor (MSR) atomic technology in the United States. Splash247 

 

Maritime

Do shipping markets want Biden or Trump for the win?

VesselsValue’s Adrian Economakis uses trade data to construct an informed view on how each candidate for the US presidency might impact shipping markets. Riviera

New ICS report sheds light on diversity in shipping

Women make up just 7.5 percent of the world’s seafarers, according to a first-of-its-kind report looking into diversity within the shipping industry. The report was released this week by the International Chamber of Shipping. It surveyed more than 200 shipping companies across the world on issues related to diversity in the global shipping labor force. G Captain

Digital Features added to ship classification rules

DNV GL is launching a new Digital Features chapter within its ship classification rules, adding three new notations that will enter into force on January 1st, 2021, alongside a ‘Smart’ vessel notation for assessing and visualising digital vessel features. Smart Maritime Network 

Norway opens cyber resilience centre

Norway will open a maritime cyber resilience centre at the beginning of 2021, just as shipping needs to demonstrate cyber risk management within ship safety documentation. Riviera

Samskip launches digital freight forwarding portal

Samskip Logistics has launched a new mySamskipLogistics global forwarding customer portal to help reefer and other specialised cargo shippers to make freight bookings online and access track and trace information for all of their entered shipments. Up to date details covering shipment status, references and comments are available at any time, together with documents and invoices. The Digital Ship


Events
 

IBIA postpones annual convention’s panel discussions

The International Bunkering Association has postponed the live sections of its annual convention by a week because of technical issues. Ship & Bunker

To be held over three days, this dynamic event will include a virtual exhibition hall, access to extensive in-depth on-demand content, and a series of both regional and globally-focused live panel discussions with audience participation. View event details 

Nor-Shipping reports strong interest in 2021 exhibition

Nor-Shipping, Your Arena for Ocean Solutions, has announced that all of its available main and leading partnerships have been taken for its 2021 outing, taking place in Oslo and Lillestrøm 1-4 June. DNV GL and DNB have secured the roles of Main Partners, with Jotun, Wärtsilä, Astrup Fearnleys, KONGSBERG and Skuld signing up as Leading Partners. Tradewinds will return as Nor-Shipping’s Lead Media Partner, while The Norwegian Maritime Authority (Sjofartsdirektoratet) has been confirmed as the Ocean Leadership Conference Partner. ShipInsight

back

Share Insight:

You may also be interested in

Maritime News Round Up – Issue 29

2 weeks ago

One solution to the mounting credit and legal risks faced by both buyers and sellers in the bunker market could be to set up a clearing house for marine fuels trades.

3 Min read

Read more

Maritime News Round Up – Issue 28

3 weeks ago

A toning down of the political uncertainty and turmoil stemming from the US has managed to offer a much need reprieve to the dry bulk market. Even though trade uncertainties dominate, it seems that the overall market sentiment is inclined to believe that things will get better than they are today

4 Min read

Read more