Shipping emissions 17% of global CO2
Shipping could be responsible for 17% of global CO2 emissions in 2050 if left unregulated, according to a new scientific study conducted by European Parliament Directorate General for Internal Policies. Any agreement at the Paris Climate Summit must therefore send a clear signal to the International Maritime Organization (IMO) that CO2 reduction targets and measures for shipping are needed to help keep warming below dangerous levels…
Tankers Versus Bulkers
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000/day range, says a Clarksons study. But the market remains nervous. This tanker pick-up coincided with a slump in dry bulk earnings, which is interesting because on paper bulkers and tankers both seem to have surplus capacity. So why are tankers doing so much better than bulkers?
Sustainable Shipping Initiative leans on shipping ahead of COP21
The Sustainable Shipping Initiative (SSI) is stepping up pressure on the shipping industry ahead of the COP21 Climate Change Conference in Paris, says The Chamber of Shipping of British Columbia. SSI want the IMO to support the UNFCCC global CO2 reduction targets on the basis that climate change is one of the biggest risks to the future of global trade and to the shipping industry. In its response…
Bunker Fuel Market Poised 460 million tons by 2020
Transparency Market Research launched its latest study on the global bunker fuel market, in terms of revenue and volume. The report predicts that the global bunker fuel market is likely to reach an estimated volume of 460 million tons by 2020. The market, therefore, is poised to exhibit a moderate 3.1% CAGR during 2014-2020, expanding from 372.30 million tons in 2013. Bunker fuel is a fractionally distilled liquid fuel derived from crude oil.
Euroseas Sells C/V Marinos
Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today the sale of C/V Marinos (a 1,599 TEU Container vessel, built in 1993) to an unaffiliated third party (the "Buyers") for recycling. The Vessel was delivered to the Buyers today, November 27, 2015.
Bill on Danish Maritime Planning Submitted
The bill is to form the basis of a maritime planning act intended to promote economic growth and development of sea areas. The Danish Maritime Authority is to head the work. The bill on maritime planning gives the guidelines for the drawing up of a holistic marine plan for Denmark's sea areas, which is to be ready in 2021. It is expected that the bill will be presented to Parliament during the first part of 2016.
Plans to Create Rio Doce Fund
Vale and BHP Billiton announced today plans to work together, with Samarco, to establish a voluntary, non-profit fund to support the rescue and recuperation of the Rio Doce river system, affected by an accident at Samarco’s Fundão dam, in the state of Minas Gerais on 5 November 2015. The Fund would initially be sponsored by Vale and BHP Billiton. The aim is to seek additional financial support from other private, public and non-government organisations. The initial value is still being defined.
Seaspan Implements ECO Insight solution
Seaspan Ship Management Ltd. will implement the DNV GL fleet performance management solution ECO Insight to improve their fleet monitoring. ECO Insight will also enable Seaspan to increase their vessel’s performance and energy efficiency. “Seaspan has spent considerable effort to develop its capabilities around fleet performance. Close monitoring of the performance of our fleet is in line with our mission of safe, reliable and economical operations.
New Appointments at Becker Marine Systems USA
Becker Marine Systems USA continues growth in North America. Becker Marine Systems, the leader in rudder technology and the inventor of the Becker Mewis Duct Energy-Saving Device has added Brian Rhoades and Adam Wood to their USA staff. Mr. Rhoades will have the role of Northeast Sales Representative and will be based in Pennsylvania. A Kings Point graduate, he brings 30 years of experience to the role and will support Becker customers in Eastern Canada and the US. Mr.
Panama-Registered Ship Sinks off Vigan City
A Panamanian cargo vessel MV Fortune Life sank off the coast 130 nautical off Vigan City in Ilocos Sur, Philippine Coast Guard (PCG), uthorities said. The Coast Guard received a distress signal from Hong Kong about the maritime incident. According to the Public Information Office of PCG, the search for 13 missing crew members is continuing. PCG Northwestern Luzon district commander and Captain Leovigildo…
Polish Cargo Ship SZAFIR Attacked off Nigeria
Pirates operating off the coast of Nigeria have taken hostage five Polish sailors, including the captain and officers, from the Polish general cargo ship Szafir. The ship was headed to the port of Onne in Nigeria from Antwerp, when the armed pirates struck, with 11 of the crew escaping harm by barricading themselves in the engine room and turning off the engines. Polish Foreign Minister Witold Waszczykowski…
IMO Assembly Elects New 40-Member Council
Category (a) 10 States with the largest interest in providing international shipping services: China, Greece, Italy, Japan, Norway, Panama, Republic of Korea, Russian Federation, United Kingdom, United States. Category (b) 10 States with the largest interest in international seaborne trade: Argentina, Bangladesh, Brazil, Canada, France, Germany, India, Netherlands, Spain, Sweden. Category (c) 20 States not elected under (a) or (b) above…
DP World, SCA Pact for Ain Sokhna Port Development
Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World (DP World) and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport, reports Egypt Independent. The signing of the deal comes in line with directives by Egypt’s President Abdel Fattah al-Sisi to upgrade the sea port’s status as part of the broader scheme to develop the Suez Canal region, SCA chief Mohab Mamish said.
BIMCO Signs New LNG And Shipbuilding Supervision Contracts
The twice yearly meeting of BIMCO’s Documentary Committee took place in Hamburg on 19 November. In his first meeting as Chairperson of the Committee, Belgium’s Francis Sarre presided over the adoption of several new contracts and clauses and an update of BIMCO’s extensive suite of bills of lading and waybills. Two new owner representatives joined the Committee from Canada and Brazil, reflecting the importance of the Americas in BIMCO’s global coverage of documentary matters.
SCCT Prepares to Boost Vessel Traffic with 24-hour Access
A formal signing ceremony will now enable vessels to transit to Port Said East through a new side channel to be constructed bypassing the Suez Canal’s main entrance. Vice Admiral Mohab Mamish, the Head of the SCA, formally approved the construction of a new 9.5 km (5 mile) long, 17 meter (55 feet) deep and 250 meter (820 foot) wide access channel to Port Said East which will permit uninterrupted vessel traffic to the Suez Canal Container Terminal…
North Korea Submarine-Launch Missile a Flop Show
North Korea apparently failed to launch a ballistic missile from a submarine in a sign that Pyongyang has yet to master the technology, Yonhap news agency quoted a government official as saying. According to a source from the South Korean government, the failure took place in the Sea of Japan. North Korea is believed to have fired a KN-11 missile from a submarine in the East Sea roughly between 2:20 p.m.
Windrock Names Kelleher Global Business Development Manager
Edward P. Kelleher will be assuming the new role of Global Business Development Manager – Diesel, effective December 1st. In this role, Mr. Kelleher will be leading the effort in developing a global distribution network, growing the Windrock Inc business in the marine industry and other diesel related applications as well as continuing the growth of the Windrock customer base in Nuclear, Military, Mining and Power Generation.
Canada to Aid Developing Nations Fight Climate Change
Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming, which he has promised will show the country is serious about tackling the issue. Canada will give C$2.65 billion ($1.98 billion) over the next five years, the newly elected Trudeau announced during a trip to Malta, where he was meeting the heads of Commonwealth countries.
Sandra Weakens to Tropical Storm off Mexico's Coast
Hurricane Sandra weakened to a tropical storm on Friday and was expected to continue losing strength as it approached Mexico's Pacific coast, the U.S. National Hurricane Center (NHC) said. Sandra, about 215 miles (346 km) southwest of the Pacific port of Mazatlan on Friday evening, was producing maximum sustained winds of 70 mph (113 kph), the NHC said. "Sandra is expected to be near tropical storm strength when it moves near the coast of Mexico in the warning area on Saturday.
Gates to Launch Mega Clean Tech Initiative
Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative on Monday, the opening day of the U.N. climate change summit in Paris, GreenWire reported Friday. Gates and a group of developing and developed countries will agree to double their research and development budgets to boost clean energy deployment and work collaboratively, according to GreenWire…