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Cargill Hires Diana Shipping s Capesize
Athens-based Diana Shipping has entered into a time charter contract with Geneva s Cargill International for one of its Capesize dry bulk vessels.
Under the deal, the company s 171,810 dwt bulker Salt Lake City would be hired at a gross charter rate of USD 9,750 per day for a period of twenty to twenty-three months.
The 2005-built unit is scheduled to commence its charter on March 14, 2019.
Diana Shipping expects that the employment would generate around USD 5.85 million of gross revenue for the minimum scheduled period of the time charter.
Salt Lake City is currently working for Cargill International at a rate of USD 16,250 per day. The current deal was signed for a period of over 10 months, from May 2018 to mid-March 2019.Posted On:11-Mar-2019
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NRF: US Retail Imports Set to Drop to Annual Low
Imports at the major retail container ports in US are expected to drop to their lowest level in almost a year this month.
According to a report by the National Retail Federation and Hackett Associates, the decline would be noted as the retail industry entered its annual lull between seasons, while plans for a tariff increase were put on hold.
"Now that the holiday season is over and summer has yet to crank up, this is the quiet time of year for retail supply chains," according to Jonathan Gold, NRF Vice President for Supply Chain and Customs Policy.
"Retailers are also taking a break from the rush to bring merchandise in ahead of tariff hikes now that the increase that was scheduled for March has been delayed," Gold said, adding that imports will start to build up again soon as retailers prepare for the summer.
U.S. ports handled 1.89 million TEUs in January, the latest month for which after-the-fact numbers are available. That was down 3.7 percent from December following the end of the holiday season but up 7.4 percent year-over-year.
February was estimated at 1.79 million TEU, up 6.2 percent from February 2018. March is forecast at 1.59 million TEU, up 3.2 percent year-over-year but the lowest level since 1.63 million TEU in April 2018.
Imports during 2018 set a new record of 21.8 million TEU, an increase of 6.2 percent over 2017 s previous record of 20.5 million TEU. The first half of 2019 is expected to total 10.8 million TEU, up 4.8 percent over the first half of 2018.
"The trade war with China is turning out not to have the results President Trump expected," Ben Hackett, Hackett Associates Founder, said.
"Imports from China did not decline - in fact, they soared to record levels."Posted On:11-Mar-2019
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Nedmag, TIMAB Magnesium Partner Up on New Solution for Scrubbers
Magnesium Producers Nedmag and TIMAB Magnesium have launched a strategic partnership for development and commercialization of magnesium hydroxide in marine gas scrubber systems.
Ahead of the IMO 2020 sulphur cap, the two companies have jointly developed a magnesium hydroxide product called MH53S MARE to offer vessel owners, operators and their crews the alkali source for their scrubber operations.
As informed, MH53S MARE combines alkali power with high purity and best-in-class stability properties. Contrary to alternative alkali sources, MH53S MARE is a non-hazardous material, which is said to contribute positively to crew safety.
After several years of successful use of MH53S MARE on board several vessels, the duo intends to bring this solution to the industry on a global scale. By combining their strengths, the two partners aim at improving further technical support as well as optimizing supply chain options available to each single vessel operator, all over the world. On top, production capacity at Nedmag doubled in 2018, with additional expansion planned to support the industry s growing demand.
In the framework of this partnership, TIMAB Magnesium handles the distribution of MH53S MARE to the maritime industry, with Nedmag supporting the development of this environmentally friendly solution from a technical point of view.
"This approach fits very well in the vision of our company… With TIMAB Magnesium we have found the right partner to establish MH53S MARE as the reference in marine gas scrubbers," Alex Medendorp, Sales and Marketing director of Nedmag, said.
"We are extremely proud to contribute to a solution for the SOx emission challenge faced by the maritime industry," François Mazare, Industrial & Environmental Applications Director with TIMAB Magnesium added.
Since January 2015, regulations over sulphur oxides (SOx) emission from the marine industry have been significantly tightened, in Sulphur Emission Control Areas (SECAs) especially. The new set of regulations will come into force on January 1, 2020, governing all oceans and seas of the globe.
Among the technical alternatives available to the maritime industry to face this environmental challenge, scrubber systems are due to play a prominent role by dramatically reducing SOx content in vessels exhaust.
Established in 1981, Nedmag is a Netherlands-based producer of magnesium oxide, magnesium hydroxide, magnesium chloride and calcium chloride.
TIMAB Magnesium is a French producer and distributor of magnesium products for agriculture, refractories and industrial and environmental applications.Posted On:11-Mar-2019
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Orca AI: Shipowners Not Ready to Give Up Control to Intelligent Vessels
Shipowners are said to be hesitant to relinquish control of their vessels in favor of autonomous solutions, as they trust their captains and crews.
In general, the shipping industry s approach to new technologies has been described as "conservative", especially when it comes to autonomous solutions that could theoretically replace the crew.Posted On:11-Mar-2019
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Sudan s Bashir says Port Sudan terminal deal under review
Sudanese President Omar al-Bashir Friday said that a deal to transfer the container terminal at Port Sudan to a Philippines company is under review after workers held a strike against the contract.
Hundreds of workers at Port Sudan, a vital economic hub of the east African country, went on strike for days last month to oppose Khartoum s decision to transfer control of the terminal to the foreign firm International Container Terminal Services Inc (ICTSI).Posted On:11-Mar-2019
Credits: www.bunkerportsnews.com |
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Sudan terminal deal with Philippines ICTSI under review Bashir
Sudan-Sudanese President Omar al-Bashir said that a deal to transfer the container terminal at Port Sudan to a Philippines company is under review after workers held a strike against the contract.
Hundreds of workers at Port Sudan, a vital economic hub of the east African country, went on strike for days last month to oppose Khartoum s decision to transfer control of the terminal to Filipino business tycoon Enrique Razon Jr. s International Container Terminal Services Inc (ICTSI).Posted On:11-Mar-2019
Credits: www.bunkerportsnews.com |
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First Gen says Philippine govt greenlights LNG terminal project
Philippine power producer First Gen Corp said on Friday it has learned that the Department of Energy has approved its application for a Notice to Proceed (NTP) for the construction of its FGEN Batangas LNG Terminal Project.
First Gen, which operates four power plants with a combined capacity of 2,000 megawatts running on the Philippines Malampaya natural gas, said it has yet to received a formal notice from the DOE on the issuance of NTP.Posted On:11-Mar-2019
Credits: www.bunkerportsnews.com |
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Australia s Port Hedland iron ore shipments to China slip 5 percent in February
Iron ore shipments to China from Australia s Port Hedland terminal fell almost 5 percent in February from a month earlier, port data released on Friday showed.
Iron ore shipments to China from the world s biggest iron ore port totaled 33.5 million tonnes in February, compared with January s 35.1 million tonnes, the Pilbara Ports Authority said.Posted On:11-Mar-2019
Credits: www.bunkerportsnews.com |
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Ports That Boomed on China May Never Be the Same as Trade Shifts
An industry that saw dramatic growth in the decade before Donald Trump took office is now concerned his administration s trade tussle with China, and the lack of a deal with Japan, will cut future growth short.
Ports in the Pacific Northwest have invested hundreds of millions of dollars to expand their ability to ship America s agricultural riches east to an increasingly hungry Asia, with export capacity and rail unloading for grains and oilseeds more than doubling from 2008 to 2015, according to William W. Wilson, a professor of agribusiness at North Dakota State University.Posted On:11-Mar-2019
Credits: www.bunkerportsnews.com |
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