1. NYK leads Japan’s return to ship recycling. Japanese shipping line Nippon Yusen Kaisha (NYK) has moved to bring back ship recycling to the island country in East Asia.
The company has signed a memorandum of understanding with compatriot Oono Development to commercialise a business that would enable ships and large offshore structures to be dismantled in Japan and recycled as steel scrap and other materials.
https://splash247.com/nyk-leads-japans-return-to-ship-recycling/
https://splash247.com/nyk-leads-japans-return-to-ship-recycling/
2. Dali lawsuits pile up in the US. Legal cases surrounding this year’s most high profile shipping accident are expected to run for many years costing hundreds of millions of dollars. Lawyers for three of the families who lost loved ones when Baltimore’s Francis Scott Key Bridge collapsed six months ago are suing the owners of the Dali containership for personal injuries, adding to a slew of lawsuits surrounding the vessel which is scheduled to leave American shores this week and make for China where extensive repairs will get underway.
https://splash247.com/dali-lawsuits-pile-up-in-the-us/
https://splash247.com/dali-lawsuits-pile-up-in-the-us/
3. Intra-Asia rates slumping. British consultancy Drewry has launched an index covering one of the largest, most competitive container tradelanes. Drewry’s new Intra-Asia Container Index (IACI), which made its debut yesterday, comes at a time when spot rates in the region are under pressure.
https://splash247.com/intra-asia-rates-slumping/
https://splash247.com/intra-asia-rates-slumping/
4. Trade Groups Urge Biden to Act as East and Gulf Coast Port Strike Looms. A coalition of 177 trade associations has appealed to President Biden for immediate intervention in stalled labor negotiations between the International Longshoremen’s Association (ILA) and port employers represented by the United States Maritime Alliance (USMX).
https://gcaptain.com/trade-groups-urge-biden-to-act-as-east-and-gulf-coast-port-strike-looms/
https://gcaptain.com/trade-groups-urge-biden-to-act-as-east-and-gulf-coast-port-strike-looms/
5. Woodland Biofuels Invests $1.35 Billion in Louisiana for World’s Largest Carbon-Negative Renewable Energy Facility. Toronto-based Woodland Biofuels has unveiled plans for a groundbreaking $1.35 billion investment at the Port of South Louisiana. The project aims to establish the world’s largest carbon-negative renewable natural gas plant and ultra-green hydrogen facility.
https://gcaptain.com/woodland-biofuels-invests-1-35-billion-in-louisiana-for-worlds-largest-carbon-negative-renewable-energy-facility/
https://gcaptain.com/woodland-biofuels-invests-1-35-billion-in-louisiana-for-worlds-largest-carbon-negative-renewable-energy-facility/
6. Houlder warns shipowners of slow steaming swizz. Many shipowners are turning to slow steaming, but independent design and engineering firm Houlder urges caution. Those owners not informed by data analysis, risk a series of unintended financial consequences. The practice could even hinder progress towards International Maritime Organisation (IMO) greenhouse gas (GHG) reduction targets.
https://cyprusshippingnews.com/2024/09/19/houlder-warns-shipowners-of-slow-steaming-swizz/
https://cyprusshippingnews.com/2024/09/19/houlder-warns-shipowners-of-slow-steaming-swizz/
7. China’s slowdown is weighing on the outlook for global oil demand growth. Amid an abrupt deceleration in Chinese oil consumption, global demand growth is cooling sharply from the rates seen in recent years, which we have been projecting since our first forecast for 2024 was published in June 2023. World oil demand is on course to increase by 900 000 barrels per day (b/d), or 0.9%, in 2024 and 950 000 b/d next year, down from 2.1 million b/d, or 2.1%, in 2023.
https://cyprusshippingnews.com/2024/09/19/chinas-slowdown-is-weighing-on-the-outlook-for-global-oil-demand-growth/
https://cyprusshippingnews.com/2024/09/19/chinas-slowdown-is-weighing-on-the-outlook-for-global-oil-demand-growth/
8. Intelligent risk management as a booster for sustainable aviation fuel. Sustainable, hydrogen-based aviation fuels are expected to make a significant contribution to the decarbonisation of the aviation industry in the medium term. However, uncertainties regarding technologies and business models are currently holding back urgently needed private investment. Appropriate framework conditions and intelligent solutions to limit risks can help to untie this knot.
https://cyprusshippingnews.com/2024/09/19/intelligent-risk-management-as-a-booster-for-sustainable-aviation-fuel/
https://cyprusshippingnews.com/2024/09/19/intelligent-risk-management-as-a-booster-for-sustainable-aviation-fuel/
9. Successful ship-to-ship ammonia transfers pave the way for ammonia bunkering in the Pilbara region. A Global Centre for Maritime Decarbonisation-led consortium has successfully conducted ship-to-ship transfers of ammonia at anchorages within the Port of Dampier on 14 September 2024.
https://cyprusshippingnews.com/2024/09/19/successful-ship-to-ship-ammonia-transfers-pave-the-way-for-ammonia-bunkering-in-the-pilbara-region/
https://cyprusshippingnews.com/2024/09/19/successful-ship-to-ship-ammonia-transfers-pave-the-way-for-ammonia-bunkering-in-the-pilbara-region/
10. Implications of Looming labor strikes on US container trade and supply chains. September is traditionally one of the busiest months for U.S. containerized imports, driven by the peak shipping season as businesses prepare for the holiday rush. However, this year presents an unprecedented combination of challenges that could heavily impact supply chains. Potential labor strikes, natural disasters, and tariff uncertainties are converging, creating a highly volatile environment for global trade. This also led to the pulling forward of orders by retailers, which led to strong inventories in the US. Â
https://cyprusshippingnews.com/2024/09/19/implications-of-looming-labor-strikes-on-us-container-trade-and-supply-chains/
https://cyprusshippingnews.com/2024/09/19/implications-of-looming-labor-strikes-on-us-container-trade-and-supply-chains/
