Maritime News Round up – Issue 10

Bunker Fuels

MABUX: Bunker market, July 09

Oil prices settled higher on Wednesday as U.S. gasoline consumption showed signs of a recovery, but price gains were limited by rising crude inventories and an increase in coronavirus infections. Both benchmarks were on track for a fourth session of daily percentage changes of less 1% in either direction, shrugging off news that OPEC member Libya was adding to global supplies by reopening its Es Sider oil terminal for exports. Port news

Five key fuel testing questions answered

Experts at Bureau Veritas VeriFuel and Veritas Petroleum Services answer the key fuel testing questions for the maritime industry. Riviera

Marine Lubricants

Marine Lubrication: improving procurement through to performance

The days of one contract manager in a corner office quietly handling a shipping company’s entire fuels and lubes requirements are numbered. Digitalisation means greater transparency and efficiency is available from procurement through to performance. 

Free Event, register now: Rivieramm

Climate Change/Future Fuels

EU takes aim at ‘insufficient’ measures taken by the IMO and maps its own green shipping agenda

The European Union has splintered global shipping regulation, taking more firm, decisive action on the environment on Tuesday than the International Maritime Organization (IMO) has managed in years. IMO’s legitimacy as shipping’s global regulator has never been more threatened.  The Environment Committee at the European Union voted on Tuesday to include CO2 emissions from the maritime sector in the EU Emissions Trading System (ETS). Splash247

New Wartsila compact reliq adds flexibility to the growing LNG market

The technology group Wärtsilä introduces its Compact Reliq reliquefaction plant. The system is designed to reliquefy boil-off gas (BOG) onboard gas carriers and LNG bunker vessels, and for keeping the cargo cool under all operational conditions. Its compact design enables it to be installed on existing vessels without extensive modification work. Wake Media

Shell calls for co-operation on New Fuels Research

Wide ranging research commissioned by oil major shell on shipping’s route to decarbonisation has revealed that’ urgent effort’ is required to reduce the industry’s carbon footprint. Ship & Bunker

Digitalization

Vogemann touts new blockchain-based handy Green Deal

German shipping company Vogemann has started a new way of financing, using blockchain-based Green Shipping Token to expand its fleet of bulk carriers.  The company is looking to raise $50m via this novel green financing method with minimum investments set at $1,000. Splash247

Making Change Happen

Maersk Tankers’ digital spin-off, ZeroNorth, has hit the ground running with the launch of its Optimise software to help cut emissions and optimise vessel performance. As its CEO Søren Meyer tells Bunkerspot, optimisation starts with data collection – but ZeroNorth’s USP is translating that data into action. Bunkerspot

Cosco Shipping and Alibaba Latest Efforts Using Blockchain in Shipping

Cosco Shipping Group, the Chinese state-run shipping company, is the latest to join the growing momentum in digitization through the use of blockchain technology. China Ocean Shipping Group signed a strategic cooperation agreement with China’s e-commerce company Alibaba and its affiliate Ant Group, to jointly promote the development of blockchain technology for shipping logistics. Maritime Executive

Shipbroker teams with Microsoft to unlock answers to the chemical trades

Chemical tanker brokers SPI Marine have teamed with Microsoft in a bid to bridge the gap between data and decision-making in shipping. Using the latest AI-powered data processing technology, shipbrokers and users will be able to ask questions via a Q&A style search experience and gain real-time answers to granular questions, helping them make better informed and faster business decisions. Splash247

Maritime Industry

Ocean Tankers’ supervisor to start restructuring talks with owners – report

EY, the court-appointed supervisor for Ocean Tankers Pte Ltd (OTPL), has proposed two restructuring options to the shipping company’s owners and could meet with them as early as next week to discuss the plans, according to an EY report seen by Reuters. Reuters

Ship orders plummet to lowest level seen this century

New shipbuilding orders in the first half declined 57% to the lowest levels seen this century, according to data from Clarkson Research Services. Just 269 ships – equivalent to 5.75m cgt – were contracted in the first six months around the world, putting many yards in jeopardy of running out of business in the coming year. Splash247

Joint statement of the international maritime virtual summit on crew changes

Governments from across the world express their appreciation to seafarers and pledge to urgently resolve issues that have arisen due to the COVID-19 pandemic. Gov UK

Shipping banks better prepared than in 2008

Banks are better prepared than in 2008, to face the challenges that are looming post-coronavirus but that an increase in non-performing loans is inevitable as a result of the pandemic, according to XRTC Business Consultants. Seatrade Maritime

Data services for the maritime industry in strong demand

The use of data services in the maritime industry is growing. The increasing demand for data services is an expression of the overall digital transformation of the industry, says maritime analytics and AIS company, GateHouse Maritime. The Digital Ship

Seafarers Awareness Week: 06 – 12 July

In 2020 Seafarers Awareness Week will highlight the challenges faced by merchant seafarers and their families during COVID-19. Seafarers and their families have confronted unique difficulties during the crisis. Thousands of seafarers have been stuck on-board vessels, unable to get home, while their families may be coping without the seafarer’s income. Support the cause: Seafarers UK 

Interested in last week’s News Roundup? Read all now – w/c 29th June 2020

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