28736 members and growing – the largest networking group in the maritime industry!

LoginJoin

Wednesday, February 26, 2020

International Maritime Organization News

Wärtsilä will supply customized Hybrid Scrubber systems that meet and exceed the latest emissions legislation to two Norwegian Cruise Line ships. Photo: Norwegian Cruise Line.

Wärtsilä to Supply Scrubbers to NCL

European technology giant Wärtsilä will be supplying hybrid scrubber system packages for Norwegian Cruise Line's (NCL) Norwegian Breakaway and Norwegian Getaway.According to a press note from Wärtsilä, the scrubber systems have been ‘specially customized to meet the specific needs’ of the two cruise ships – which included adapting ‘to meet the ships’ restricted space availability’.The scrubber systems will enable the 325 meters long cruise vessels to be in compliance with the International Maritime Organization’s (IMO) sulfur restriction legislation while operating on heavy fuel oil (HFO).

Image:  International Maritime Organization (IMO)

IMO's Women in Port Management Course

To encourage More women are joining the maritime ranks in a variety of professions within the industry and with a view to continuing the momentum to empower women in the maritime community, International Maritime Organization (IMO) is supporting a training course aimed at female officials from maritime and port authorities.Twenty-two women from 10 francophone countries in Africa - Algeria, Burkina Faso, Cameroon,  Côte d'Ivoire, Djibouti, Guinea, Madagascar, Senegal, Seychelles and Togo -…

Image: Korea Shipbuilding & Offshore Engineering

KSOE Wades into the Red

South Korean manufacturer of oil tankers, cargo and passenger vessels, and warships, Korea Shipbuilding & Offshore Engineering (KSOE) reported its fourth-quarter net loss of 26.2 billion won (US$ 22.2 million), remaining in the red compared with a year ago.The KSOE is an intermediate holding firm controlling Hyundai Heavy Industries and two other Hyundai Heavy Industries Group shipbuilders.According to a regulatory filing, operating profit for the October-December period last year was 169.9 billion, compared with a loss of 246.4 billion won a year ago.

© naypong / Adobe Stock

Coronavirus Disrupts Global Container Shipping

China's fast-spreading coronavirus is throwing the global container shipping trade out of sync, with lines re-routing cargoes and reducing calls to Chinese ports, setting the scene for months of delivery delays ahead, industry sources said.The spread of the deadly virus has shut down cities and factories in China and disrupted global air travel.China's decision to extend its Lunar New Year holiday period until Feb. 10 has compounded logistical complications, despite its ports staying open.

Image by International Seaways, Inc.

International Seaways Signs Refi Deal

New York-headquartered product tanker company International Seaways has closed on senior secured credit facilities worth a total of USD 390 million.The crude oil and petroleum product tanker company said that the facilities consists of a 5-year USD 300 million senior secured term loan facility, a 5-year USD 40 million revolving credit facility, of which USD 20 million has been drawn, and a 2.5-year USD 50 million senior secured term loan credit facility.The NYSE-listed ship owner…

Image by Poseidon Principles

Poseidon Readies $140Bn Shipping Loan

With the signing by the France-based international lender to global shipping BNP Paribas and the Swiss multinational investment bank Credit Suisse, Signatories of the Poseidon Principles represent around $140 billion in loans to international shipping – about 30% of the total global ship finance portfolio.Poseidon Principles is a global framework for responsible ship finance which helps incentivize shipping’s decarbonization.They establish a common framework to quantitatively…

Image: International Maritime Organization (IMO)

IMO, WISTA Join on Gender Diversity

The Women's International Shipping and Trading Association Limited (WISTA International) and International Maritime Organization (IMO) have signed a Memorandum of Understanding on promoting greater diversity and inclusion through enhanced cooperation activities in the maritime field.According to a press release from the UN body, these activities will lay the groundwork for further discussion on how a diverse workforce will be essential for a sustainable future.Initiatives already under way include a study to collect and analyze data on the number of women employed in the maritime sector…

© Igor Yu. Groshev / Adobe Stock

Low-sulphur Fuel Oil Prices Drop

Prices for very low sulphur fuel oil (VLSFO) in ports around the world have fallen within the first month since the International Maritime Organization's (IMO) new regulation for a 0.50% global sulphur cap for marine fuels has taken effect.Singapore has seen one of the largest drops in the price of VLSFO, which peaked on January 7, 2020 at $740 per metric ton (MT) and dropped $99 to $641 per MT on January 22, BIMCO points out.Prices rose in December as shipowners transitioned…

© Martin Lueke / Adobe Stock

IMO's 2050 Decarbonization Target Has $1 Trillion Pricetag

At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.U.N. shipping agency, the International Maritime Organization (IMO), aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050…

© vladsv / Adobe Stock

Low-sulphur Fuel Sales Surge

The final quarter of 2019 marked a massive decline of high-sulphur fuel oil (HSFO) sales, as the industry transitioned into compliance of the International Maritime Organization's (IMO) 2020 Sulphur Cap (IMO 2020). In Singapore, the world’s largest bunkering hub, the bunker sale landscape saw significant change as the sale of high-sulphur fuel oil dropped tremendously in a matter of months. In contrast, the sale of low-sulphur fuels skyrocketed in the final quarter.The first wave…

Image: Eagle Bulk Shipping

Eagle Bulk Joins Decarbonization Coalition

The US-based dry bulk carrier Eagle Bulk Shipping has joined industry group the Getting to Zero Coalition.The group is an alliance of over 90 companies within the maritime, energy, infrastructure, and finance sectors which are committed to the decarbonization of deep-sea shipping, in line with the International Maritime Organization's greenhouse gas emissions reduction strategy and the UNFCC Paris Agreement.Gary Vogel, Eagle Bulk’s CEO, said, “We are constantly working on improving energy and operational efficiencies at Eagle…

Copyright: Suriyapong/AdobeStock

China Tax Waiver for Cleaner Ship Fuel Exports

China has approved a long-awaited tax waiver on exports of cleaner ship fuel, paving the way for refiners to boost output, though Beijing may initially limit shipments to focus on growing its coastal marine fuel market, state refiner officials say.Ships globally have switched to lower sulphur fuels, or use emissions-removing devices, to comply with new rules imposed by the International Maritime Organization this year.China's State Council, or cabinet, gave the go-ahead to waive taxes on the 0.5% or very low sulphur fuel oil (VLSFO)…

Capt Eero Lehtovaara  (Photo: ONE SEA)

ONE SEA Appoints Lehtovaara Chairman

ONE SEA has appointed Capt Eero Lehtovaara as its new Chairman. Lehtovaara, a Master Mariner and Associate Fellow of the Nautical Institute, is Head of Regulatory & Public Affairs at ABB Marine & Ports.He brings a wealth of experience to the expanding ONE SEA alliance where he has been a Board member for two years, as well as Vice Chairman. His past experience at sea provides a unique understanding of the challenges set by new regulations, human resource management and technological developments…

Image: Hyundai Mipo Dockyard (HMD)

HMD Confirms Evergreen Boxship Order

South Korean shipbuilder Hyundai Mipo Dockyard (HMD), a unit of Hyundai Heavy Industries (HHI), has confirmed the KRW 110 billion ($100m) newbuilding order for four units of 1,800 TEU container carriers from Taiwanese shipping line Evergreen Marine Corporation.The world's No. 1 shipbuilder specializing in medium-sized ships such as product/chemical tankers, car carriers, LPG & LNG carriers, and asphalt carriers, said that The vessels, each of which will have a length of 172 meters…

Image: Costa Cruises

Costa Smeralda Floated Out

Italian cruise line Costa Cruises said that Costa Smeralda is the first ship in the Costa fleet to be fueled by liquefied natural gas (LNG). "This is a step change for the cruise industry as a whole, guaranteeing a substantially reduced environmental impact," it said."Costa Smeralda is the first ship in the Costa fleet to be powered both in port and at sea by LNG, meaning improved air quality and protecting the environment with the virtual elimination of sulfur dioxide emissions (zero emissions) and particulate matter (95-100% reduction).

Matson's newest vessel, the largest combination container / roll-on, roll-off ("con-ro") ship ever built in the United States. Image Credit: NASSCO

Matson Takes Delivery of First Kanaloa Class ConRo

Largest "Con-Ro" Ship Built in U.S. Will Serve Hawaii.Matson today took delivery of its newest vessel, the largest combination container / roll-on, roll-off ("con-ro") ship ever built in the United States, from General Dynamics NASSCO. Christened 'Lurline,' the new ship is the first of two "Kanaloa Class" con-ro vessels being built for Matson by NASSCO at a total cost of approximately $500 million for the pair, and the third of four new vessels that Matson is putting into service between 2018 and 2020.

Image: International Maritime Organization (IMO)

Asia Boosts IMO Technical Cooperation

The International Maritime Organization (IMO), Thailand’s Ministry of Transport and the United Nations Economic and Social Commission for Asia (UNESCAP) have recently organized the second regional Knowledge Partnership Workshop in Asia in Bangkok,The workshop was designed to support maritime technical cooperation activities in the region.The workshop brought together officials from transport ministries, responsible for maritime affairs, and finance ministries, responsible for official development assistance.

AdobeStock / © Mikesjc

China Stocks up on VLSFO Ahead of IMO2020 Deadline

Chinese marine fuel suppliers have signed up short-term deals to buy very low-sulphur fuel oil from companies like oil major Shell, Germany's Uniper and U.S. commodities trader Freepoint ahead of a new standard on emissions for the global shipping industry that kicks in on Jan. 1.While China's state refiners have pledged to produce a combined 14 million tonnes of the fuel for 2020 that complies with the tighter rules set by the International Maritime Organization (IMO), Beijing…

Photo: Wärtsilä

LR Awards Wärtsilä Cyber Certification

Lloyd’s Register (LR) has awarded Wärtsilä system-level cyber certification for its network architecture relating to Wärtsilä’s integrated main and auxiliary machinery. The LR’s ShipRight SAFE AL2 certification, which is with Wärtsilä’s Data Collection Unit (WDCU), gives Approval-in-Principle (AiP) for the entire Wärtsilä integrated system network, rather than for any individual component. The certification is one of the first of its kind to be awarded globally.At a time when information and operational technologies onboard ships are being networked together…

Image: International Chamber of Shipping

Ship Industry Proposes $5B R&D Fund to Cut Emission

Shipping associations have proposed creating a research fund with $5 billion raised by the industry to develop technology to help the sector meet U.N. targets on cutting emissions."The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D program to help eliminate CO2 emissions from international shipping," said a press note from International Chamber of Shipping (ICS).The proposal include a new non-governmental Research & Development organisation to pave the way for decarbonization of shipping.

Tom Strang, senior vice president of maritime affairs for Carnival Corporation

Carnival Joins the Getting to Zero Coalition

Carnival Corporation has announced it has joined the Getting to Zero Coalition.Carnival Corporation is the first cruise company to join the global alliance.The coalition’s goal aligns with the International Maritime Organization’s (IMO) strategy to reduce greenhouse gas emissions from shipping by at least 50% by 2050 as compared to 2008 emissions. To meet the target, the Getting to Zero Coalition aspires to having technically feasible, commercially viable zero emission deep sea vessels (ZEVs) entering the global shipping fleet as early as 2030.

© Kara / Adobe Stock

BIMCO: Climate Ambitions Not Achieved Alone

BIMCO has welcomed the recognition of the European Commission (EC) that climate change is a global issue that requires mobilization of partners internationally.In The European Green Deal, published on December 11, 2019 by the European Commission, it is highlighted in the introduction that “the environmental ambitions of the Green Deal will not be achieved by Europe acting alone”. BIMCO fully agrees with this, especially when it comes to climate actions for international shipping.The…

Ed Grimm, (second from left) CEO, Southern Towing Company during a crew visit.

Interview: Ed Grimm, CEO, Southern Towing Company

“In God we trust. All others must have data.”When Ed Grimm took the helm of Southern Towing Company (STC)as President and CEO, he inherited an enviable team of leaders, engineers, mentors, communicators and analysts. Today STC is a clear leader on the inland waterways, pioneering and proving the business and safety value of Z-Drives on the river towboats.How did you come to the top spot at Southern Towing Company?I started in the energy industry at 16 working at an oil storage depot in New York Harbor, working there through high school and putting myself through college.

© vladsv / Adobe Stock

Asian Refiners Strive to Finish IMO Preparations

At SK Energy's largest refinery in South Korea, engineers are rushing to complete a new processing unit ahead of schedule as the firm looks to boost sales of low-emission fuels before new marine fuel standards take effect in just one month.In Japan, the country's second-biggest refiner Idemitsu Kosan Co is taking a more cautious stance, increasing capacity for low sulphur fuel oil (LSFO), but also relying on blending to produce IMO 2020 compliant bunker fuel.The different approaches…

AdobeStock / © 14KT Gold

Fuel Market Calm ahead of IMO Changeover

Fears about a shortage of diesel and other middle distillates stemming from new marine pollution regulations have receded, with distillate premiums falling to some of the lowest levels for two years.From the start of 2020, ocean-going ships will be required to use low-sulphur fuels or employ exhaust gas cleaning systems, known has scrubbers, under pollution control rules approved by the International Maritime Organization (IMO).Fuel traders and shipowners have warned for several…

Pic: International Maritime Organization (IMO)

Training for L. American Maritime Leaders

A regional workshop organized by International Maritime Organization (IMO) has provided senior maritime administration officials in Latin America with the latest information on current and future developments at the Organization.The workshop for the regional maritime authorities networks, ROCRAM and ROCRAM-CA was held at IMO Headquarters in London (26 November) in the margin of the 31st IMO Assembly.The 28 participants received detailed information about the activities within…