1. MSC Mediterranean Shipping: LNG Not a Viable Option Due to Limited LNG Bunkering Facilities Available At Ports
For the past few years shipowners have been preparing for the IMO2020 Sulphur cap and put significant efforts in place to ensure smooth transition without disruption to customers.
2019 HANSA Forum in Hamburg focused on what comes next after 2020. Big investments in research and development are needed to further reduce greenhouse gas emissions from shipping. The ambitious goal set by the UN IMO to half the emissions by 2050 requires innovative solutions to meet the demand for alternative fuels, and to further develop low-carbon technologies to enhance shipdesign. https://www.hellenicshippingnews.com/msc-mediterranean-shipping-lng-not-a-viable-option-due-to-limited-lng-bunkering-facilities-available-at-ports/
2. Chinese shipbuilding giants announce merger
China Shipbuilding Industry Corporation and China State Shipbuilding Corporation Limited merged into one corporation in Beijing on Tuesday.
This reorganized corporation has 147 scientific research institutes, enterprises and listed companies with total assets of 790 billion yuan (about 112.29 billion U.S. dollars) and 310,000 employees https://www.hellenicshippingnews.com/chinese-shipbuilding-giants-announce-merger/
3. Korean shipbuilders brace for rebound on strong LNG ship demand
South Korea’s three major shipbuilders are poised to come out of a protracted slump as it is sweeping up global orders for liquefied natural gas (LNG) vessels amid growing demand for environmentally-friendly vessels https://www.hellenicshippingnews.com/korean-shipbuilders-brace-for-rebound-on-strong-lng-ship-demand/
4. LNG-Fuelled Propulsion Solution Heralds New Green Era for VW Car Carriers
Siem Car Carriers has officially launched its latest vessels at a naming ceremony at Xiamen Shipyard in China on November 15th, 2019. The ‘Siem Confucius’ and ‘Siem Aristotle’ are the very first, trans-Atlantic PCTCs (Pure Car Truck Carriers) to operate full-time on LNG and are both powered by an identical MAN Energy Solutions’ propulsion solution. The vessels will transport cars for the VW Group between Europe and China https://www.hellenicshippingnews.com/lng-fuelled-propulsion-solution-heralds-new-green-era-for-vw-car-carriers/
5. Australian iron ore imports declined in October
Imports of iron ore and concentrate from Australia to China decreased by 9.4% from a month earlier and by 1.25% from a year earlier, to 53.99 million mt in October.
China imported 24.05 million mt of iron ore and concentrate from Brazil in October, up 1.82% on the month and up 9.46% on the year, according to the latest data from China Customs. https://www.hellenicshippingnews.com/australian-iron-ore-imports-declined-in-october/
6. Perfect storm sees VLCC rates leap
The November issue of Splash Extra launches today with a look at the volatile VLCC rates and where they might head in the final five weeks of the year.
The subscription title – available for as little as $100 a year – carries the views of many of the world’s top tanker analysts, all of whom appear bullish on prospects for more six-digit earnings in the weeks ahead. https://splash247.com/splash-extra-perfect-storm-sees-vlcc-rates-leap/
7. US set to be energy independent within months
The US is only months away from full energy independence, a new study from Oslo-based Rystad Energy states. By 2030, total primary energy production will outpace primary energy demand by about 30%, according to Rystad’s latest forecast.
“This milestone follows a strong period of growth in both hydrocarbon and renewable resources, and we forecast that the US will have primary energy surplus – and not a deficit – by February or March 2020, depending on the intensity of the winter season,” said Sindre Knutsson, vice president on Rystad Energy’s gas markets team https://splash247.com/us-set-to-be-energy-independent-within-months/
8. Global electricity production from coal on track for record fall this year
Global electricity production from coal is on track to fall by around 3% in 2019, the largest drop on record, according to a new report from UK website Carbon Brief.
The drop would amount to a reduction of around 300 terawatt hours (TWh), more than the combined total output from coal in Germany, Spain and the UK last year. https://splash247.com/global-electricity-production-from-coal-on-track-for-record-fall-this-year/
9. IMO dismisses Greek minister’s call to delay sulphur cap implementation
The International Maritime Organization (IMO) has swiftly moved to quash the latest efforts to slow down or derail implementation of the global sulphur cap, which is due to start in just over one month. Ioannis Plakiotakis, the Greek minister of maritime affairs and insular policy, caused a stir on Monday afternoon when addressing the 31st IMO assembly opening session, when like the Union of Greek Shipowners earlier, he suggested the sulphur cap ought to be delayed over safety fears. The IMO has since moved fast to say that there is no chance that the regulation – the largest new shipping legislation in a generation – can be delayed. https://splash247.com/imo-dismisses-greek-ministers-call-to-delay-sulphur-cap-implementation/
10. HMM continues to stand out as box shipping’s biggest loser
The main container carriers’ average operating margin improved to 3.6% in the third quarter of 2019, largely due to lower bunker costs, Alphaliner reports in its latest weekly report. However, there is one carrier that stands apart, still mired in red ink.
Among the main carriers surveyed by Alphaliner, South Korea’s HMM was the only shipping line that posted a negative operating margin in the third quarter, extending its negative earnings streak to 18 consecutive quarters https://splash247.com/hmm-continues-to-stand-out-as-box-shippings-biggest-loser/