AJOT | September 28, 2022 | Maritime | Technology | Energy | Alternative
The latest installations of wind propulsion technology on large commercial vessels have tipped the amount of cargo that can be transported on vessels that make use of wind as a renewable energy source over the one million tonnes of deadweight (DWT) milestone.
1. Ocean spot rates ex-Asia continued to fall this week, with US West Coast rates falling 45% so far this month to below $3,000/FEU for the first time since August of 2020.
2. Rates from Asia to the East Coast and to North Europe both fell about 25% this month but remain more than 150% and 400% higher than in 2019, respectively. The slower rate slides are likely due to still-severe port congestion on these lanes.
3. East Coast congestion is driven by a shift of volumes from the West Coast, partly to avoid labor disruptions possible since July. This week, ILWU members temporarily slowed operations in Seattle and Oakland, marking the dispute’s first industrial actions.
• Asia-US West Coast prices (FBX01 Daily) fell 8% to $2,978/FEU. This rate is 82% lower than the same time last year.
• Asia-US East Coast prices (FBX03 Daily) decreased 5% to $6,952/FEU, and are 63% lower than rates for this week last year.
This week the Northwest Seaport Alliance (NWSA) welcomes the inaugural delivery of Hyundai automobiles to its South Harbor in Tacoma. This new partnership between GLOVIS America, Wallenius Wilhelmsen Solutions (WWS) and NWSA will lead to a significant increase in both finished vehicles and breakbulk operations, and increased business to our local partners.
Reacting to a September 22 satellite observation from the US National Snow and Ice Data Centre (NSIDC) showing that that Arctic sea ice reached the tenth lowest on record, Dr Sian Prior, lead advisor to the Clean Arctic Alliance, said: “There is no time for complacency. With a reported lull in international transit traffic passing through the Arctic’s Northern Sea Route this season, Arctic and other governments must seize the opportunity to massively crank up climate action on shipping. By implementing green shipping corridors throughout the Arctic, ships moving through these waters could considerably lower their impact on both sea ice and Arctic ecosystems, and on the global climate.”
Maritime and offshore system cyber risk management specialists, CyberOwl have successfully secured US$5.1M of investor funding to support the accelerated adoption of their Medulla cyber risk monitoring solution.
Automation specialist Høglund Marine Solutions has signed six more contracts with Jiangnan Shipyard (Group) Co Ltd and Babcock LGE to supply Integrated Automation (IAS), Cargo and Fuel Gas Control Systems (CCS and FGCS) for six very large ethane carrier (VLEC) newbuilds. Three vessels will be owned by AW Shipping Limited, (a joint venture shipping company, established by Wanhua Chemical Group and Abu Dhabi National Petroleum Corporation), one by Hong Kong-headquartered Pacific Gas and two by Tianjin Southwest Maritime.
Bloomberg | September 26, 2022 | Maritime | Liner Shipping
A consortium led by former Berkshire Hathaway Inc. executive David Sokol and Canadian investment group Fairfax Financial Holdings Ltd raised its offer to buy Atlas Corp., the holding company that controls shipping firm Seaspan Corp., to $4.4 billion.
Bloomberg | September 26, 2022 | Maritime | Liner Shipping | International Trade
The cost of shipping goods from China has slumped to the lowest level in more than two years as the world economy stumbles, dimming prospects for container carriers that turned in record profits during the pandemic.
AJOT | September 23, 2022 | Maritime | Breakbulk News | Ports & Terminals | Equipment and Tech
The first crane arrived on January 5, 2022. Three new Liebherr mobile harbour cranes are joining the fleet at Noatum port terminals in Castellon, Sagunto and Tarragona. The cranes will enable the terminals to improve their handling efficiency for various cargo types.