1. China’s worst floods for 100 years impacting tanker trades
China’s worst floods for 100 years are having a significant impact on the tanker trades. The country has been battered by heavy rains for most of this month with many dying in extreme floods and growing concern about whether or not the massive Three Gorges Dam can withstand the deluge.
2. Giant bulk carrier runs aground on reef off Mauritius
A giant bulk carrier ran aground on a reef off Mauritius on Saturday evening, despite warnings from the local coast guard that the ship was travelling too near the shore. Booms are in place, and salvage companies are on standby to handle the delicate operation to safely remove the 203,130 dwt Wakashio bulk carrier from its position some 900 m from the shoreline in the southeast of Mauritius. https://splash247.com/giant-bulk-carrier-runs-aground-on-reef-off-mauritius/
3. Hyundai Heavy fined for unfair trade
South Korean’s Fair Trade Commission has imposed a KRW970m ($805k) fine on the country’s shipbuilding giant Hyundai Heavy Industries (HHI) for unfair trade with its subcontractors. According to the anti-trust commission, HHI stole technologies in the production of pistons on ship diesel engines from subcontractor Samyoung and shared the technology with another subcontractor, and then the shipyard ended trade with the Samyoung one year later. https://splash247.com/hyundai-heavy-fined-for-unfair-trade/
4. Golden Ray Salvage Suspended Due to COVID-19, Hurricane Season
The Unified Command overseeing the wreck removal of the Golden Ray in St. Simons Sound has announced that work will be suspended due to combined impacts of hurricane season and the COVID-19 pandemic. https://gcaptain.com/golden-ray-salvage-suspended-due-to-covid-19-hurricane-season/
5. U.S. oil exports to Europe rebound as OPEC+ cuts supply
The United States has increased oil supply to Europe in July for the first month since May, making up for output cuts from OPEC+ members, according to traders and Refinitiv Eikon data.
6. Land-sea freight route from west China links more ports worldwide
A land-sea freight route, jointly built by provincial-level regions in west China and Singapore, had linked 234 ports in 92 countries and regions, as of June 30, sources with the route’s operation platform said Thursday.
7. Dublin’s Second Quarter Container Throughput Declines 14pc To 173,000 TEU
THE Port of Dublin’s unitised trade, trailers and containers combined, fell 13.5 per cent year on year to 321,000 units during the second quarter with ro-ro declining by 13 per cent to 225,000 units and boxes down 14 per cent to 173,000 TEU. https://www.shippingtribune.com/news/shipping/Dublin%27s+second+quarter+container+throughput+declines+14pc+to+173%2C000+TEU+
8. Shipyards’ Rebound Hopes Are Coming Up Empty
Orders for new oceangoing ships are at record lows as carriers sit on the sidelines amid clouds of uncertainty. The blow to the global trading economy from the coronavirus pandemic has left cargo carriers’ demand forecasts in tatters. Perhaps more important, there’s no consensus on what kind of fuels a new generation of environmentally friendly ships would use in the coming years. https://www.shippingtribune.com/news/shipping/Shipyards’+Rebound+Hopes+Are+Coming+Up+Empty
9. India June Oil Imports Lowest In Nearly Nine Years; None From Venezuela
India’s oil imports fell in June, hitting their lowest since October 2011, as refiners curbed purchases due to maintenance turnarounds and weaker fuel demand, data from industry sources showed. India, the world’s third biggest oil consumer and importer, received 3.2 million barrels per day (bpd) oil in June, a decline of 0.4% from May and about 28.5% from a year ago, the data showed.
10. Enhancing Safety Measures In The Port Of Singapore
The Maritime and Port Authority of Singapore (MPA) is enhancing safety measures in the Port of Singapore, in view of the heightened risks of importing COVID-19 cases into Singapore.