Tag: shipping industry

The use of drones in the shipping industry is about to take-off. They are used more and more by class societies and marine surveyors and they can provide faster and more informed decision-making on board, reducing the impact of any incident. What is most important however, is the fact that drones can help protect lives.

Singapore is considered as the top world's shipping centre for the fifth year in a row, followed by Hong Kong, London, Shanghai and Dubai. The outcome is based on the International Shipping Centre Development Index issued by Baltic Exchange and Xinhua news agency.

Singapore remains at the top of the International Shipping Centre Development (ISCD) Index for the fifth consecutive year. The index covers 43 of the world's largest ports and cities and is published today by the Baltic Exchange and Xinhua, China's news agency. Hong Kong overtook London for the first time in five years, going to second place.

On International Women's Day, 8 March, Southampton-based ferry operator Red Funnel appointed Alice Duncan as its first female captain. Ms. Duncan started her cadetship at the age of 18, and joined Red Funnel five years ago. Alice Duncan stated that she is very proud and noted that the shipping industry needs more women.

Rolls-Royce signed an agreement to sell its Commercial Marine business, to Kongsberg, for £500m and net proceeds of around £350m to £400m. The sale includes propulsion, deck machinery, automation and control, a service network spanning more than 30 countries and ship design capability. Rolls-Royce’s Ship Intelligence activities, including remote and autonomous operation of commercial vessels, are also included.

Manning costs have increased in 2018 after many years of stagnation, as pressure in most cargo shipping markets has been reduced, allowing employers to lift wage levels, especially amongst the market-related officer ranks. As Drewry notes, the mean aggregate manning costs increased by about 1% in 2018.

After Hanjin Shipping bankrupted, Korea's shipping industry was very weak. In order to help the industry stand again on its feet, the Korea Ocean Business Corporation will be launched on July 5. The creation of the organization is under the plan of the country's President Moon Jae-in to revitalize Korea's shipping industry.

International shipping industry organisations have launched a new website to provide maritime security guidance to companies and mariners. The new website www.maritimeglobalsecurity.org provides security guidance, which the industry supplies, as well as links to  useful maritime and military security resources. 

In the 2018 Business-IT Excellence Awards ceremony that took place on June 13, Propulsion Analytics and Euronav received the Gold Award in the category "Specialized solutions for companies in the Maritime Industry". The joint nomination except from the Gold Award, was also granted a top distinction.

BIMCO informed that the US sanctions on Iran are affecting the tanker shipping industry. The immediate effects may be less tangible but they add more uncertainty to the whole shipping industry that has plenty of uncertainty to deal with. Freight rates for crude oil tankers and oil product tankers are making losses.