1. Container ship COSCO PACIFIC fire, interrupted voyage
Container ship COSCO PACIFIC while en route from Port Klang Malaysia to Ngava Sheva western India reported fire in container or containers, in cargo hold.on Jan 4, being under way in Arabian sea off southwest Indian coast. The ship interrupted scheduled voyage and headed for Colombo, arriving there in the morning Jan 6. http://maritimebulletin.net/2020/01/07/container-ship-cosco-pacific-fire-interrupted-voyage/
2. Russian missile cruiser troubled in Bosphorus VIDEO UPDATE Analysis
According to informed sources, cruiser transited Bosphorus without any trouble on Jan 5 and was anchored off Istanbul, waiting for daytime Jan 6 to berth at Sarayburnu pier in Istanbul, as a part of Russia’s President Putin Turkey visit program. Cruiser failed to berth because of strong wind and heavy rain, and returned to anchorage. http://maritimebulletin.net/2020/01/06/russian-missile-cruiser-troubled-in-bosphorus-video/
3. Bulk carrier disabled, drifting in stormy Aegean sea towards Peloponnese
Cargo ship with cargo of steel or iron suffered rudder failure in the morning Jan 6 in Aegean sea NE of Cape Maleas, southeast of the Peloponnese. Disabled ship is caught in severe storm raging over Aegean sea, drifting. Greek MRCC is monitoring situation, ready to intervene. Greek sources don’t reveal ship’s details other then her flag, Marshall Islands, cargo and countries of departure/destination. http://maritimebulletin.net/2020/01/06/bulk-carrier-disabled-drifting-in-stormy-aegean-sea-towards-peloponnese/
4. 2019 volatility lifts freight derivative volumes
The freight derivatives markets for both tankers and dry cargo vessels saw increased traded volumes in 2019 according to data released by the Baltic Exchange. Tanker Forward Freight Agreement (FFA) volumes were up 38% on the previous year, reaching 473,113 lots. Dry FFA volumes hit 1,632,773 lots, up 11% on 2018. One lot is defined as a day’s hire of a vessel or 1000 metric tonnes of ocean transportation of cargo. https://www.hellenicshippingnews.com/2019-volatility-lifts-freight-derivative-volumes/
5. First LNG freight futures trades via CME Group agreed – brokers
Affinity (Shipping) LLP, a shipbroker, said this week in a statement it had facilitated its first trades in CME Group’s liquefied natural gas (LNG) freight futures contracts
The trades involved French energy major Total and commodities trader Trafigura and were submitted for clearing using CME Group’s ClearPort system, Affinity said https://www.hellenicshippingnews.com/first-lng-freight-futures-trades-via-cme-group-agreed-brokers/
6. New Rules on Cleaner Marine Fuel Started Jan. 1. There Are Already Winners
New rules on shipping fuel took effect on Jan. 1, and they are already causing swings in commodity prices and shipping rates that should benefit both shipping companies and refiners. https://www.hellenicshippingnews.com/new-rules-on-cleaner-marine-fuel-started-jan-1-there-are-already-winners/
7. Shearwater GeoServices awarded Gambia seismic project
Offshore survey service provider Shearwater GeoServices has been awarded a 3D Isometrix seismic acquisition project by FAR Gambia.
The one-month survey will cover parts of block A5 offshore Gambia in Mauritania, Senegal, Gambia, Guinea-Bissau, Conakry (MSGBC) Basin. https://splash247.com/shearwater-geoservices-awarded-gambia-seismic-project/
8. Battered OSV sector braces for another challenging year
The offshore outlook for 2020 is muted at best, with senior executives interviewed by Splash worried that unless dramatic consolidation takes place the sector will suffer its sixth consecutive year of downturn. https://splash247.com/battered-osv-sector-braces-for-another-challenging-year/
9. Oil And Gas Shipping Companies On High Alert For Strait Of Hormuz Transits
Shipping companies, including owners and operators of tankers and LNG carriers, are on high alert following escalated tensions in the Middle East, with risks of freight rates rising sharply, higher war insurance premiums and other risk mitigation efforts being implemented. https://www.shippingtribune.com/news/shipping/Oil+and+gas+shipping+companies+on+high+alert+for+Strait+of+Hormuz+transits
10. Australia Lifts Iron Ore Price Forecast; Cuts Metallurgical Coal
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Australia’s Department of Industry, Innovation and Science has marginally lifted its forecasts for iron ore prices for the next couple of years while cutting back the expected price of metallurgical coal. https://www.shippingtribune.com/news/shipping/Australia+lifts+iron+ore+price+forecast%3B+cuts+metallurgical+coal
