1. New BIMCO clause encourages bulk sector to embrace just in time arrival concept
The new clause creates a contractual framework to overcome the primary obstacle to just in time arrivals; the obligation on shipowners to proceed with due or utmost despatch and without deviation. This is a critical aspect of making JIT arrivals work. Removing this obstacle will allow ships to optimise their speed and thereby arrive at a port at an optimal time and avoid delays without breaching their usual voyage charter obligations. https://cyprusshippingnews.com/2021/02/16/new-bimco-clause-encourages-bulk-sector-to-embrace-just-in-time-arrival-concept/
2. London Gateway is new port of call for two major international shipping services connecting with the UK
DP WORLD today announces that London Gateway, Britainâs fastest growing container terminal, is now the UK port of call for two new major international shipping services, connecting the economies of Western Europe with the Eastern Mediterranean, North Africa and Russia.
DP World â the leading provider of smart logistics solutions â has created an integrated business in the UK comprising two deep water ports with freight rail terminals at London Gateway and Southampton, meaning greater flexibility and choice for shipping lines and cargo owners. https://cyprusshippingnews.com/2021/02/16/london-gateway-is-new-port-of-call-for-two-major-international-shipping-services-connecting-with-the-uk/
3. IMO symposium highlights pathways to shippingâs decarbonization
Various low- and zero-carbon marine fuels will allow shipping to meet its emissions targets, but more work is needed to address availability, safety and other issues. The state-of-play of low and zero-carbon fuel options to ensure shippingâs path to decarbonization was set out in an online symposium hosted by the International Maritime Organization (IMO) on 9-10 February 2021. https://cyprusshippingnews.com/2021/02/16/imo-symposium-highlights-pathways-to-shippings-decarbonization/
4. Liberian Registry expands in Korea
The Liberian Registry announced the expansion of its presence in South Korea, with the opening of its Busan branch office. After a successful several years of winning over tonnage from Korean owners, the Liberian Registry has met the demand of its ever-increasing Korean fleet with this additional technical and operational office in the heart of Koreaâs maritime city. https://cyprusshippingnews.com/2021/02/16/liberian-registry-expands-in-korea/
5. Hapag-Lloyd Forecasts âVery Strongâ First Quarter
Hapag-Lloyd expects operating profit to more than triple in the first quarter of 2021 on âexceptionallyâ strong demand for container transportation and higher freight rates, the German shipping line said today. The company forecasted that performance indicators EBITDA and EBIT are expected to be significantly higher than in the first quarter of 2021, with EBITDA currently expected to be at least USD 1.8 billion, compared to USD 517 million in Q1 2020. https://gcaptain.com/hapag-lloyd-forecasts-very-strong-first-quarter/
6. ONE Containership Testing Use of Sustainable Marine Biofuel
An Ocean Network Express (ONE) containership is trialing the use of sustainable marine biofuel as industry seeks to make supply chains more sustainable by reducing carbon emissions in the container shipping segment. The 4,803 TEU-capacity MOL Experience was refueled with the biofuel at the Port of Rotterdam on November 22, 2020. https://gcaptain.com/one-containership-testing-use-of-sustainable-marine-biofuel/
7. ITF Calls on Shipping Companies to Save Seafarers Stranded Off China
The International Transport Workers Federation (ITF) is calling on companies to step up efforts to help seafarers stranded on ships off China as Beijing continues to informally ban coal importsfrom Australia. âItâs expensive, but itâs the right thing to do,â the ITF urged in a message to shipping companies asking that they pay the millions of dollars the union group says is required to address the problem. https://gcaptain.com/itf-calls-on-shipping-companies-to-save-seafarers-stranded-off-china/
8. U.S. Navy Destroyer Seizes Weapons Cache from Dhows Off Somalia
The seizures took place February 11 and 12 by the USS Winston S. Churchill (DDG 81). The Navy said the cache included thousands of AK-47 assault rifles, light machine guns, heavy sniper rifles, and rocket-propelled grenade launchers, along with components such as barrels, stocks, optical scopes and weapon systems. https://gcaptain.com/u-s-navy-destroyer-seizes-weapons-cache-from-dhows-off-somalia/
9. Only Scrubber-Fitted VLCCs Are Earnings Positive As Bunker Prices Spike â Sources
The rising discounts which high sulfur fuel oil is enjoying over its low sulfur cousin has resulted in a clear two-tier market for VLCCs, where tankers with scrubbers are showing daily earnings, or else running into losses, market participants said Feb. 16. https://www.shippingtribune.com/news/shipping/Only+scrubber-fitted+VLCCs+are+earnings+positive+as+bunker+prices+spike+â+sources
10. Britain’s Cairn Files Case In US To Push India To Pay $1.2 Billion Award
Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues. In December, an arbitration body awarded the British firm damages of more than $1.2 billion plus interest and costs. The tribunal ruled India breached an investment treaty with Britain and said New Delhi was liable to pay. https://www.shippingtribune.com/news/shipping/Britain%27s+Cairn+files+case+in+US+to+push+India+to+pay+%241.2+billion+award
