1. IMO Environment Committee approves amendments to cut ship emissions
Draft new mandatory regulations to cut the carbon intensity of existing ships have been approved by the International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC), meeting in virtual session from 16-20 November 2020. https://cyprusshippingnews.com/2020/11/18/imo-environment-committee-approves-amendments-to-cut-ship-emissions/
2. Maersk further improves profitability in Q3 due to strong Ocean performance and growth in Logistics & Services
During the third quarter A.P. Moller – Maersk improved profitability across the business and delivered strong free cash flow, despite the negative impact on global economies from the COVID-19 pandemic. The company grew earnings before interest, tax, depreciation and amortisation (EBITDA) 39 pct. to USD 2.3bn with revenue decreasing 1.4 pct. to USD 9.9bn.
3. Long Beach Repeats as Best West Coast Seaport
The Port of Long Beach has been named the best West Coast seaport in North America for the second consecutive year. The award was given Nov. 9 in Hong Kong at the 34th annual Asian Freight, Logistics and Supply Chain Awards, hosted by shipping trade publication Asia Cargo News.
4. Tanker shipping at risk of rare winter hibernation
Three months ago, tanker owners hoped for a quick rebound and talked up fleet expansion via consolidation. There’s little talk of fleet growth today. And a growing number of executives and analysts fear the typically strong winter season will be a bust. https://cyprusshippingnews.com/2020/11/18/tanker-shipping-at-risk-of-rare-winter-hibernation/
5. Who will follow Australia’s lead in setting a crew change date?
The International Transport Workers’ Federation (ITF) has welcomed the announcement this week by the Australian Maritime Safety Authority (AMSA) that it will be ending on February 28 temporary exemptions for vessels to have seafarers onboard for longer than the 11 months maximum stipulated by the International Labour Organisation’s Maritime Labour Convention (MLC). https://splash247.com/who-will-follow-australias-lead-in-setting-a-crew-change-date/
6. Bunkering vessel hijacked in Gulf of Guinea
Maritime safety consultancy Dryad Global reported that Togo-flagged bunkering vessel Stelios K was boarded and hijacked while on route to Lagos. The operator reported loss of contact with the vessel, resulting in authorities seeking to establish the vessel location and make contact with the crew.
7. Hyundai Mipo terminates car carrier newbuilding contract
The four 7,500 ceu vessels were ordered by an unnamed Marshall Islands-based owner back in 2015 for a total of $155m, and the owner later signed an agreement with the yard in 2016 to push back the delivery from 2018 to 2020.
8. APM Terminals Pipavav Strives In Facilitating Trade
APM Terminals Pipavav is taking efforts to facilitate trade and reviving economy amidst a considerable imbalance in trade due to severe shortage of containers for exporters. The Port has reduced the terminal handling charges for empty containers by 25% to enable the exporters who are adversely impacted by the shortage of empty containers due to significant fall in imports. The reduction for handling charges on tariff is effective for vessels sailing from 16th November 2020 to 31st December 2020. https://www.shippingtribune.com/news/shipping/APM+Terminals+Pipavav+strives+in+facilitating+trade
9. Container Freight Rates Soar On Consumer Goods Boom, Supply Chain Kinks
Global container shipping rates have surged to records on a spike in restocking demand in the United States and Europe, container scarcity at export hubs, and changes in freight flows because of the coronavirus pandemic, shipping sources said. https://www.shippingtribune.com/news/shipping/Container+freight+rates+soar+on+consumer+goods+boom%2C+supply+chain+kinks
10. Baltic Index Rises On Higher Panamax, Supramax Rates
The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, gained on Wednesday, helped by strong demand for panamax and supramax vessels. The Baltic dry index was up 3 points, or 0.3%, at 1,115. The panamax index rose 39 points, or 3.1%, to 1,291, gaining for a fifth straight session. https://www.shippingtribune.com/news/shipping/Baltic+Index+Rises+On+Higher+Panamax%2C+Supramax+Rates