1. Dry Bulkers Still in High Demand
Demand for dry bulk carriers remained high over the past week. Ship owners are eager for more tonnage, on the back of improving market fundamentals. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, interest remained relatively robust this past week, with the positive sentiment noted as of late from the boosted freight market playing a key role. https://www.hellenicshippingnews.com/dry-bulkers-still-in-high-demand/
2. China’s June iron ore imports hit 33-month high on robust demand
China’s iron ore imports jumped 17% in June from a month earlier to hit the highest level in 33 months, customs data showed on Tuesday, fuelled by rising shipments from miners and robust demand in China.
3. Methanol Institute joins first comprehensive study of Methanol as marine fuel in China
The Methanol Institute (MI) has joined a study led by the China Waterborne Transportation Research Institute (CWTRI), the think tank of the Chinese Ministry of Transport, which will consider the technical and operational requirements for the use of methanol as a marine fuel.
4. A lost decade for shipping stocks
There’s a sense of deja vu, not just because there’s another global crisis, but because there has been so little evolution in the public shipping space over the past 10 years. Shipowners on Wall Street were supposed to mature into the kind of blue-chip, consolidated, corporate, creditworthy, non-conflicted investment vehicles that are coveted by the long-only funds of Boston and New York. https://www.hellenicshippingnews.com/a-lost-decade-for-shipping-stocks-2/
5. Fire Continues to Burn on USS Bonhomme Richard
According to a Monday afternoon update from Rear Adm. Philip Sobeck, Commander of Expeditionary Strike Group 3, the ship is currently stable and the structure itself remains safe. However, fire is still active and continues to be fought from both within and outside the ship from multiple access points.
6. Tom Hanks Recognized for Works Celebrating U.S. Merchant Marine
Actor Tom Hanks has been awarded the American Maritime Partnership’s American Maritime Hero Award in recognition of his work celebrating American maritime heroes.
The Oscar Award-winner has drawn global attention to the U.S. merchant marine through acclaimed works such as “Captain Phillips,” which tells story of the Maersk Alabama hijacking and kidnapping of Master Richard Phillips (Hanks), and starring in and writing the screenplay in the newly released “Greyhound.” https://gcaptain.com/tom-hanks-recognized-for-works-celebrating-u-s-merchant-marine/
7. U.S. Says Room for Sanctions in Response to China in South China Sea
The top U.S. diplomat for East Asia warned on Tuesday that Washington could respond with sanctions against Chinese officials and enterprises involved in coercion in the South China Sea after the United States announced a tougher stance to Beijing’s claims there.
8. Directors At French Shipping Firm Louis Dreyfus’ Indian Unit Face Contempt Of Court
The Bombay High Court on Monday admitted a contempt petition against Alba Asia Pvt Ltd, its directors Gildas Maire and Antoine Person and Arunabh Tripathi, an employee of Louis Dreyfus, for failure to deposit ?1,21,80,000 with the court following a February 17 order. https://www.shippingtribune.com/news/shipping/Directors+at+French+shipping+firm+Louis+Dreyfus’+Indian+unit+face+contempt+of+court+
9. TT Club Supports UK Crime Agency Targeting Cargo Theft
Through the recent period of lockdown in the UK, there has been a demonstrable change in behaviour and tactics of criminal organisations involved in cargo theft. Restrictions on free movement have impacted criminal “business models”. Reported theft cases have demonstrated an increase in local activity and involved thefts from warehouse facilities, something less frequently experienced in the UK.
10. Vietnam First-Half Coal Imports Surge To Record High As Power Demand Grows
Vietnam’s coal imports in the first half of this year surged by more than 50% to a record high, government data showed on Monday, mostly to feed the country’s growing number of coal-fired power plants.Coal imports in the January-June period rose 53.8% from a year earlier to 31.57 million tonnes, the Customs Department said in a statement. https://www.shippingtribune.com/news/shipping/Vietnam+first-half+coal+imports+surge+to+record+high+as+power+demand+grows