Maritime transportation, goods, services and regulation news
| November 08, 2021 | Energy | Maritime
| November 05, 2021 | Maritime | Bulk | Ports & Terminals | Canal and Waterway
At a press event yesterday at the National Museum of the Great Lakes in Toledo, Ohio, Great Lakes maritime industry leaders joined with the U.S. Army Corps of Engineers to provide a progress update on construction of the new large lock at Sault Ste. Marie, Michigan.
| November 05, 2021 | Air Cargo | Freighters | Maritime
Jointly organized by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), the 11th Asian Logistics, Maritime and Aviation Conference (ALMAC) has concluded, successfully running in an online-and-offline hybrid format.
| November 05, 2021 | Maritime | Liner Shipping
Greg Scott, director of LCL Ocean Services at C.H. Robinson, shares why shippers should consider expedited LCL shipping in the face of current disruption.
| November 04, 2021 | Maritime
| November 04, 2021 | Maritime | Bulk
Mitsui O.S.K. Lines, Ltd. (MOL) in cooperation with Mitsubishi Shipbuilding Co., Ltd. (MSB) of the Mitsubishi Heavy Industries Group, have completed Concept Study of the multiple hull forms for a liquefied CO2 (LCO2) carrier that can potentially be the mainstream in the LCO2 shipping market in the near future.
| November 04, 2021 | Maritime | Bulk
Mitsui O.S.K. Lines, Ltd. (MOL) announced an agreement on the joint development of a large-size ammonia carrier—also powered by ammonia fuel—with Namura Shipbuilding Co., Ltd. and Mitsubishi Shipbuilding Co., Ltd.
| November 04, 2021 | Maritime
Crowley’s ship assist and escort services group has agreed to charter its third Tier IV ship assist tug, Athena.
| November 04, 2021 | Maritime | Liner Shipping
MSC Mediterranean Shipping Company has filed and will implement the below GFS (Global Fuel Surcharge) with the following quantum and effective dates for all shipments from Asia to the USA: Effective December 1st, 2021 from Asia to USA, the GFS levels will be as follows:
| November 04, 2021 | Maritime
| November 03, 2021 | Maritime
| November 03, 2021 | Maritime | Liner Shipping
| November 03, 2021 | Maritime | Bulk
| November 02, 2021 | Maritime | By The Numbers
London, UK, 2nd November 2021 – Vessel operating cost inflation has slowed this year as some Covid-19 related expenses unwound and high vessel earnings encouraged some owners to postpone non-essential maintenance work, but wider macroeconomic developments are raising inflationary risks as will decarbonisation initiatives, according to the latest Ship Operating Costs Annual Review and Forecast 2021/22 report published by global shipping consultancy Drewry. Drewry estimates that average daily operating costs across the 47 different ship types and sizes covered in the report rose 0.7% in 2021, which represented a sharp slowdown from the increase of 4.4% recorded in 2020 when opex rose at its fastest pace in over a decade. This compared to increases of 2-2.5% in the two prior years and a net 8% decline in operating costs over 2015-17 (see chart). Drewry ship operating cost index (annual % change) Drewry ship operating cost index (annual % change) Source: Drewry’s Ship Operating Costs Annual Review and Forecast 2021/22 “As some pandemic related costs have unwound and seaborne trade recovered average opex spend has risen moderately in 2021,” said Latifat Igbinosun, head of vessel opex research at Drewry. “Owners have taken advantage of the resumption in trade growth and rising vessel earnings to keep ships in service for longer, depressing some areas of spend.” A high proportion of 2021 opex increases were driven by marine insurance costs which rose 4.3%, slightly higher than 4% recorded during 2020. This was due to a hardening of both hull & machinery (H&M) and protection & indemnity (P&I) premiums during 2020, and this continued into 2021. But spend declined in stores and repair & maintenance (R&M) as some Covid-19 related costs unwound and vessels had limited downtime for maintenance work during the year. The rise in costs was broad-based across all the main cargo carrying sectors for the fourth consecutive year, albeit at a much slower rate compared with last year. The latest assessments include vessels in the container, chemical, dry bulk, oil tanker, product tanker, LNG, LPG, general cargo, reefer, roro and car carrier sectors. Looking ahead, despite buoyant cargo demand across many vessel segments the outlook for freight markets remains highly uncertain and the prevalence of the pandemic continues to disrupt vessel operations. Hence, we expect the pressure on costs to remain which will dampen any likely inflation, but decarbonisation regulations will add to owner cost burdens over the medium term. “Despite the mild outlook inferred by Drewry’s central opex forecast, there still exists some risk of further hardening in the insurance market as well as rising macroeconomic price inflation, both of which could inflate operating costs,” added Igbinosun. “However, we expect wider inflationary pressures to be contained by policy measures.”
| November 02, 2021 | Maritime
| November 02, 2021 | Maritime
| November 02, 2021 | Maritime
| November 02, 2021 | Maritime
| November 02, 2021 | Maritime | Liner Shipping
On 4 November at 11.30am, it will be exactly 150 years since the Hamburg-Südamerikanische Dampfschifffahrts-Gesellschaft – or Hamburg Süd, for short – was founded by an original group of shareholders made up of a dozen Hamburg based and English merchants and a Hamburg based bank.
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