Maritime News Round up – Issue 20

Bunker fuel

MABUX: Bunker Market Under Pressure

The persistent worry that world economies are not recovering from the coronavirus lockdowns robustly enough to absorb a new increase in oil production is still the downward driver on global fuel market. The World Bunker Index MABUX has demonstrated slight upward evolution for a week. The 380 HSFO index rose from 291 to 295 USD/ MT (+4.00 USD), VLSFO added 8.00 USD globally: from 332 to 340 USD / MT while MGO gained only 0.25 USD: 410 USD / MT. There are no any significant changes in the Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) as well: it has narrowed by 1.42 USD and averaged USD 43.31 (44.73 USD a week ago). MABUX / Hellenic Shipping News

Decarbonisation

European Parliament votes in favour of stricter green measures for shipping

The European Parliament voted yesterday in favour of including greenhouse gas emissions from shipping in the European Union’s carbon market from 2022, potentially one of the biggest rule changes to hit the industry for years. Splash 247

Scrubbers Can Deliver Lower Carbon Dioxide Emissions Versus VLSFO: CE Delft

Consultancy CE Delft has published new research confirming that using scrubbers can deliver a small saving in carbon dioxide emissions from ships verses using very low sulfur fuel oil. Ship & Bunker 

New dual-fuel hydrogen engine will advance shipping’s decarbonisation

In a major technological breakthrough, a Belgian joint venture (JV) has launched a new medium-speed dual-fuel engine that will advance the uptake of hydrogen as an alternative fuel, underpinning the EU New Green Deal and pending IMO carbon intensity standards for shipping. Riviera

Tanker Owner Hafnia Invests in Washington Methanol Production Facility 

Hafnia and its partner will also produce and operate duel-fuel carriers capable of running on the methanol produced at the plant. Ship & Bunker

Abu Dhabi Takes $615 Million Stake in U.S. LNG Exporter

Abu Dhabi’s main sovereign wealth fund disclosed a 5.1% stake in Cheniere Energy Inc., the largest U.S. exporter of liquefied natural gas. Bloomberg / Energy Voice

World’s First LNG-powered Very Large Containership Delivered

Hyundai Samho Heavy Industries has delivered the world’s first very large containership powered by liquefied natural gas (LNG) to Singapore’s Eastern Pacific Shipping (EPS), the South Korean shipbuilder announced Wednesday. Marine Link 

Coronavirus and globalisation: the surprising resilience of container shipping 

Although the pandemic has brought chaos to the global economy, many lines are making more money. FT  

Oceanbird cargo ship concept

A Swedish design company has revealed its concept for a cargo vessel with 260-foot-tall retractable ‘sails’, which it says can reduce emissions by 90 per cent.  The 650-foot-long aerodynamic Oceanbird vessel can transport 7,000 cars at an average speed of 10 knots, powered mostly by wind. Daily Mail 

Digitalization 

CIMAC establishes Digitalization Strategy Group 

CIMAC, the global association of the Internal Combustion Engines Industry, today announced the formation of a ‘Digitalization Strategy Group’. The new group wants to develop into the central discussion platform for digitization in the maritime industry worldwide. CIMAC

£1m robotic ship set to become ‘game changer’ for shipping industry  

A “game changing” £1million robotic ship has been christened in Plymouth exactly 400 years to the day that the Mayflower sailed for America. The newly named Mayflower Autonomous Ship (MAS) is a 15m long, aluminium-hulled trimaran, which is bristling with the latest sensors and AI (artificial intelligence) and will set off on a trailblazing voyage from Plymouth to Cape Cod in the USA in the spring of 2021. Business Live 

Maritime 

Hurtigruten Cancels Remaining 2020 Cruises

Norway’s Hurtigruten has called off its remaining cruises this year due to the rise in COVID-19 cases in Europe and the Americas, the company said on Thursday. “Our goal is to resume operations in January 2021,” the company said in a statement. Reuters 

Wilhelmsen continues expansion into renewables

Norwegian maritime major Wilhelmsen has announced that it will acquire 25% of Østensjø Group’s expanding offshore wind company Edda Wind. Launched in 2018, Edda Wind owns and operates service vessels supporting the maintenance work conducted during the commissioning and operation of offshore wind farms. Maritime Journal

Maersk restructuring to affect one third of its staff

A huge restructuring at Maersk will affect one third of the Danish conglomerate’s staff as it moves to integrate subsidiaries into the core organisation. Splash 247

Events

Maritime Week Americas – Virtual Conference

The Maritime Week Americas Virtual Conference will consist of ten carefully curated sessions, each designed to offer exciting, sharply focussed and rigorous discussion and featuring the industry’s leading experts. 

• Insightful keynotes 
• Detailed market analysis 
• ‘Live’ interviews with key market players 
• Analysis of global and regional fuel characteristics and behaviour 
• Examination of bunker supply chain developments 
• Regional overviews 
• ‘Live’ reports from ports throughout the Americas. 

View event details

Posidonia web forums week announced: 26 – 30 October 2020

Following the cancellation of the Posidonia Exhibition this October, the organisers are bringing together leading maritime media and organisations during what would have been Posidonia exhibition week for a series of web conferences and forums under the banner “It’s time to talk”. View event details

IBIA Annual Convention 2020 – Going Global: Bunkering & Shipping in a New Era: 3 – 5 November 2020

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