1. UK P&I warns shipping to heed near miss lessons to avoid casualties
Seafarers must report and investigate near misses (NM) to better understand and avoid the root causes of incidents and prevent casualties, urged speakers on a UK P&I Club webinar. Speaking at the 2 July webinar, John Gibson, marine engineer director Asia at Brookes Bell marine consultancy, explained how multiple NM could turn into a casualty. “Any failure that could lead to a NM, needs to be spotted, reported, and investigated by effective onboard staff and so will reduce the casualties,” said Gibson. https://safetyatsea.net/news/2020/uk-pi-warns-shipping-to-heed-near-miss-lessons-to-avoid-casualties/?doing_wp_cron=1594010642.6800539493560791015625
2. South Korea implements tighter COVID-19 checks in ports
South Korea’s Ministry of Health and Welfare (MOHW) has announced that effective from 6 July, quarantine stations at each port will be increased from 3 to 11. The authorities decided that more stringent measures are needed after the COVID-19 outbreaks on two Russian reefer ships, Ice Stream and Ice Crystal, upon arrival in Busan port on 21 June. South Korea is experiencing a serious second COVID-19 wave. https://safetyatsea.net/news/2020/south-korea-implements-tighter-covid-19-checks-in-ports/
3. Experts dubious over security benefits of piracy trials underway in Nigeria
Arrested at sea by the Nigerian Navy, 10 suspected pirates are awaiting trial in Nigeria under the Suppression of Piracy and Other Maritime Offences (SPOMO) Act. Security experts, however, remain dubious that this event will have a wider impact on maritime security in the Gulf of Guinea (GoG). https://safetyatsea.net/news/2020/experts-dubious-over-security-benefits-of-piracy-trials-underway-in-nigeria/
4. Marine fuel market facing tougher Q3 as supply rises
Global supply of fuel oil, used by ships and power plants, is expected to grow in the third quarter, depressing the marine fuel market as shipping demand remains weak, analysts and trade sources said. https://www.hellenicshippingnews.com/marine-fuel-market-facing-tougher-q3-as-supply-rises/
5. China’s weekly coastal bulk freight index down 1.7 pct
China’s coastal bulk freight market has seen a decrease in general demand in the week ending Friday, according to the Shanghai Shipping Exchange (SSE).
The composite index for coastal bulk freight dipped 1.7 percent week on week to 971.03, the SSE said. https://www.hellenicshippingnews.com/chinas-weekly-coastal-bulk-freight-index-down-1-7-pct/
6. China is storing an epic amount of oil at sea. Here’s why
China bought so much foreign oil at dirt-cheap prices this spring that a massive traffic jam of tankers has formed at sea waiting to offload crude.
As of June 29, China — the world’s second-largest consumer of oil after the United States — had amassed 73 million barrels of oil on 59 different ships floating at sea off the country’s northern coast, according to ClipperData, which tracks waterborne flows of crude oil in real-time. For context, that is three-quarters of the demand for the entire planet. https://www.hellenicshippingnews.com/china-is-storing-an-epic-amount-of-oil-at-sea-heres-why/
7. Coal prices to stay under pressure until year end – analysts
Global coal prices will remain under pressure until the end of the year amid a persisting glut in supply and weak demand from China and India, analysts said.
“The market is currently oversupplied. Production, in particular in Indonesia and Australia, remains strong, but the demand is declining,” Hendra Sinadia, head of the Indonesian Coal Producers Association, told a Indonesian coal-industry webinar. https://www.hellenicshippingnews.com/coal-prices-to-stay-under-pressure-until-year-end-analysts/
8. MSC Charters 11 Vessels At Discounted Rate
MEDITERRANEAN Shipping Company, MSC, was quick off the mark to take advantage of the depressed charter market, agreeing to snap up eleven 8,000-8,800 TEU vessels on long-term charters at discounted rates. The charters, to cover a demand uptick, have been agreed at daily hire rates of less than half the US$29,000 fixtures made prior to the pandemic. https://www.shippingtribune.com/news/shipping/MSC+charters+11+vessels+at+discounted+rates
9. British Ports And Augean Team Up To Explore Alternatives To Sea Disposal For Contaminated Sediments
The British Ports Association (BPA) has published a white paper with Augean on alternative routes for dealing with dredged contaminated sediments. Augean are specialists in dealing with hazardous and contaminated materials and associate members of the BPA. https://www.shippingtribune.com/news/shipping/British+Ports+and+Augean+team+up+to+explore+alternatives+to+sea+disposal+for+contaminated+sediments
10. Egypt’s Suez Canal Revenues In FY 19/20 Fall To $5.72 Bln – Statement
Egypt’s Suez Canal revenues fell to $5.72 billion in the 2019/20 financial year from $5.75 billion in the year prior, the canal authority said on Saturday. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency.