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MSC announces new bunker charge mechanism for 2019

As per a previous announcement in late September, Geneva-based Mediterranean Shipping Company is introducing new bunker charges as of 1 January 2019 in line with 2020 sulphur cap. After considerable analysis of operating costs and related market factors, the company has now established a new price mechanism – the BRC (Bunker Recovery Charge) – which will be transparent to respective trades.

US exports to China reduced by 96%

As we are now two months into the US soybeans trading year, the trade war between US and China is making its impact more apparent, Maritime Strategies International informs. Namely, US exports between September and October are less by 41%, as well as the exports to China (96%). However, there is an increase to shipments elsewhere (86%).

NYK to form joint holding company with MLC in December

Japanese NYK announced a schedule update regarding its plans to form a joint holding company to integrate the management of the four NYK Group terminal operation companies in Japan, through a new joint holding company that will be established by NYK and Mitsubishi Logistics Corporation (MLC), as announced in August 2018. 

EIB approves EUR 195 million for Ports of Rome and Lazio upgrade

The European Investment Bank (EIB) has approved a loan of EUR 195 million to support the upgrade of the Italian Ports of Rome and Lazio as per the Port Authority’s multi-year investment plan. The approved loan will cover the financing of the extension of the Port of Civitavecchia, about 60 km north-west of Rome, and the construction of a new seaport for freights and passengers in Fiumicino, 20 km west of the capital.

New record for US crude oil and natural gas proved reserves in 2017

According to EIA’s recent report ‘Crude Oil and Natural Gas Proved Reserves’, there is a continuous rise on shale and tight resources that drove proved reserves of both U.S. crude oil and natural gas to new records in 2017. Reserves of  U.S. crude oil increased 19.5% in comparison to 2016, whereas reserves of natural gas increased by 36.1% from the end of 2016.

HSH Nordbank sale officially completed

The sale of the German bank HSH Nordbank is now officially completed. The bank was sold to private equity companies, which are Cerberus Capital Management, J. C. Flowers & Co., GoldenTree Asset Management, Centaurus Capital LP and BAWAG. HSH Nordbank AG reported that it will become the first successfully privatised Landesbank in Germany.

Capital’s crude and product tanker business merges with DSS

Capital Product Partners and DSS Holdings entered into a transaction agreement. According to the agreement Capital will spin off its crude and product tanker business into a separate company, which will merge with DSS’ businesses and operations. The new company will be called Diamond S Shipping Inc.

HSH Nordbank privatisation approved by EU

The European Commission  approved the sale of HSH Nordbank by  Länder of Hamburg and Schleswig-Holstein to private investors. The Commission found that the sale was conducted through an open and non-discriminatory process and resulted in a positive price without additional State aid.

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maritime events

Alerts Casualties Loss Prevention Maritime Health Regulation Safety Seafarers Security
steel plate
Following instructions vital to avoid injuries
pad
Heavy tensioner pad falls near deck supervisor
glow sticks
Glow sticks may hide chemical risks
Arctic Ballast Emissions Fuels Green Shipping Pollution Ship Recycling Technology
e waste
EU to deny citizens longer-lasting and repairable products resulting to e-waste
cop 24
IMO focuses on strategy for shipping emissions reduction at COP 24
lng
Facility to improve safety of LNG to be created
Connectivity Cyber Security E-navigation Energy Efficiency Maritime Software Smart
drones
Port of Amsterdam trials monitoring system to explore drones
lrit
Tunisia joins EU LRIT Cooperative Data Centre
Propulsion Analytics: Unlocking the benefits of ‘Digital Twin’ concept for shipping
CIC Detentions Fines PSC Focus Vetting
lng carriers
Fines on LNG carriers for cargo shortages in India
MSC
MSC pays $630K for violating air quality regulation
korea
S. Korea top court orders Mitsubishi to pay for WWII forced labour
CSR Shipping Sustainability Women in shipping
e waste
EU to deny citizens longer-lasting and repairable products resulting to e-waste
Sea Shepherd to scrap ‘M/Y Steve Irwin’
australia
Australia’s Labor Party makes inquiry to improve maritime industry
Finance Fishery Infographic Maritime Knowledge Offshore Ports Reports Shipbuilding Short Sea Yachting
port of portland
Ballpark to be created at Port of Portland’s Terminal 2
transparency in fishing
Ten principles for global transparency in fishing industry
feport
FEPORT: Consistency and coordination needed between EU policies
Magsaysay: Making maritime training attractive for the young seafarers
Propulsion Analytics: Unlocking the benefits of ‘Digital Twin’ concept for shipping
OSM Maritime: Raising awareness on cyber risks is the first step
Marlink: Securing available connectivity onboard is vital