1. World fleet 60% larger than 2008, but emitting 18% less carbon
Despite the global merchant fleet being 60% bigger than in 2008, its carbon footprint has dropped by 18% over the last 11 years, according to data from Clarkson Research Services. The latest Clarkson weekly report shows that the the fuel consumption and the carbon output of the world fleet is lower today (~820m tonnes of carbon) than in 2008 (~1,000m tonnes), despite moving 35% more cargo and there being 60% more tonnage on the water. https://splash247.com/world-fleet-60-larger-than-2008-but-emitting-18-less-carbon/
2. Cosco Shipping Energy resumes stock trading
Cosco Shipping Energy Transportation (CSET), the tanker unit of Cosco Shipping Group, has resumed stock trading on both the Shanghai and Hong Kong stock exchanges today following a trading suspension since September 26. In an announcement, the company confirmed that the trading suspension was related to the US sanctions on its Dalian subsidiaries. https://splash247.com/cosco-shipping-energy-resume-stock-trading/
3. Early shipping blockchain pioneer sinks
One of shipping’s more high profile early blockchain initiatives has stumbled. Hong Kong-based 300cubits, which created the cleverly titled TEU tokens, has decided to suspend the operation of its booking deposit module from tomorrow. The system, led by ex-JP Morgan analyst Johnson Leung, has been live since March 2018, but failed to get enough commercial traction. https://splash247.com/early-shipping-blockchain-pioneer-sinks/
4. Driving forward the diversity debate
Diversity in shipping: why now? This was the question that we posed during London International Shipping Week (LISW) earlier this month. The number of people that came along to join this debate is a great sign that shipping is moving in the right direction. But although the shipping industry is waking up to the importance of diversity and inclusion, we still have a long way to go before these good intentions are translated into meaningful action. https://splash247.com/driving-forward-the-diversity-debate/
5. Mitsubishi Shipbuilding to Build Two High-Speed Ferries for Shin Nihonkai
Mitsubishi Shipbuilding, a group company of Japan’s Mitsubishi Heavy Industries (MHI), has received orders for two large, high-speed ferries from compatriot transportation company Shin Nihonkai Ferry. To be constructed at the Tategami Main Plant of MHI’s Nagasaki Shipyard & Machinery Works, the vessels are scheduled for completion and delivery in 2021. https://worldmaritimenews.com/archives/283971/mitsubishi-shipbuilding-to-build-two-high-speed-ferries-for-shin-nihonkai/
6. EU Clears TPG’s Acquisition of Genting’s Dream Cruises Shares
The EU has given its approval to TPG Asia to acquire 35% of Genting Hong Kong’s shares in cruise operator Dream Cruises. The European Commission concluded that the proposed acquisition would raise no competition concerns, because there were “no horizontal overlaps or vertical links between the activities of the companies in the European Economic Area. https://worldmaritimenews.com/archives/283963/eu-clears-tpgs-acquisition-of-gentings-dream-cruises-shares/
7. Tufton Oceanic Buys Crude Oil Carrier
Tufton Oceanic Assets Limited, a United Kingdom-based investment company, has agreed to acquire a crude oil tanker. The ship will be purchased from an undisclosed seller for USD 19.9 million. As informed, the vessel is time chartered to a major tanker operator for two years at a fixed floor rate plus a profit-sharing mechanism. The new fleet addition will take Tufton Oceanic’s fleet to sixteen vessels. https://worldmaritimenews.com/archives/283956/tufton-oceanic-buys-crude-oil-carrier/
8. Oil product shipping rates in Asia hit near 2-week high after U.S. sanctions
Freight rates for shipping naphtha and other clean oil products from the Middle East to Japan have jumped 13% to their highest levels in nearly two weeks after Washington imposed sanctions on tanker subsidiaries of China’s COSCO, according to industry sources and Refinitiv data. https://www.shippingtribune.com/news/shipping/Oil+product+shipping+rates+in+Asia+hit+near+2-week+high+after+U.S.+sanctions
9. U.S. Ban of Cosco Tankers Rattles Oil Transport
Shipping brokers around the world are being swamped with calls from oil traders looking for replacement ships after the U.S. blacklisted dozens of tankers operated by a major Chinese tanker operator. The U.S. action over allegations that the vessels were tied to illicit shipments of Iranian crude hits about 50 tankers operated by a subsidiary of Cosco Shipping Energy Transportation, one of the world’s largest tanker owners that moves a big part of China’s oil needs. https://www.shippingtribune.com/news/shipping/U.S.+Ban+of+Cosco+Tankers+Rattles+Oil+Transport
10. VLCCs: Tanker Market on a Roll
With 10 days having passed since the Saudi oilfield attacks, the Middle East Gulf market had calmed, and rates dipped. Then, the next fuse was lit, with a USA blacklisting on a major Chinese shipowner for breaking US imposed sanctions on Iranian crude oil carriage. Rates then got propelled upwards, as charterers sought to replace period contract coverage. 270,000mt to China voyages fell about seven points earlier in the week, then rose about 12-13 points to WS 75 level. For 280,000mt to US Gulf, basis Cape to Cape, rates are assessed 3.5 points higher at WS 34.5 level. https://www.shippingtribune.com/news/shipping/VLCCs%3A+Tanker+Market+on+a+Roll
