WORLDWIDE SHIPPING INDUSTRY
Baltic index falls on softer capesize demand
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Thursday, weighed down by lower demand for capesize vessels. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 51 points, or 2.9percent, to 1,731. The capesize index was down by 100 points, or 3.2percent to 2,978 points, its lowest in a week. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell by $766 to $24,918. The panamax index dropped for the thirteenth straight session, falling 31 points, or 2.0percent, to 1,543. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $254 to $12,380. The supramax index declined by 36 points to 1,091.
Data shows 9.6pc reduction in CO2 emissions from container shipping since 2015
Carbon dioxide emissions from 17 of the world’s leading ocean container carriers, representing approximately 80 percent of global containerized shipping, continued to fall in 2018, according to a new report from BSR’s Clean CargoTM. Since 2015, CO2 emissions per container carried have dropped by 9.6 percent, indicating that Clean Cargo members are making progress towards meeting the target set by the International Maritime Organization (IMO) of halving CO2 emissions from shipping by 2050.
Clean Cargo’s aggregate average Trade Lane CO2 Emissions Factors are compiled from the carbon dioxide emissions data reported by over 3,200 ships from 17 of the world’s largest ocean container carriers, including A.P. Møller – Mærsk, CMA CGM Group, COSCO Shipping Lines Ltd., Evergreen Line, Hapag-Lloyd, Hyundai M.M., MSC, ONE (Ocean Network Express), and Yang Ming Marine Transport Corp.
Product tankers in demand
Demand in the S&P market was mainly focused around product tankers over the past week. In its latest weekly report, shipbroker Banchero Costa noted that it was “a fairly active week with a clear focus on the product tanker segment. As usual we start from bulkers and the Real Happiness 76,000 dwt, built 2005 by Imabari which was sold in a private deal by Japanese owners to Castor Maritime for $10.2 million. The Dolphin57 Suprastar built 2011 by Qingshan is reported sold to Chinese buyers for a price of $10.4 million, in line with other similar ships of this range and vintage. An older Japanese built Supramax controlled by Navios the Navios Hios, 55,000 dwt built 2003 by Sanoyas is reported sold to Greek buyers around $7.65/7.8 million.
Australian coal exports to China and South Korea on the rise
Australian coal exports are on the rise this year, with China and South Korea proving to be the preferred markets so far. In its latest weekly report, shipbroker Banchero Costa said that coal trade in the Pacific basin has been generally positive so far this year, and this has benefitted not only Indonesian exporters but also Australia, although to a slightly smaller extent.
In the first 9 months of 2019, based on Refinitiv vessel tracking data, Australia exported 290.6 million tonnes of coal. This was +3.5 percent year-on-year, i.e. 9.8 million tonnes more than in the same period last year. As such, Australia has now fallen marginally behind Indonesia, whose coal exports jumped by 8.5 percent to 291.8 million tonnes in the first three quarter of this year.
Indian govt lens on maritime recruitment agents
After targeting maritime training institutes, faculty and seafarers over quality issues, India’s maritime administration is now looking to rein in recruitment and manning agents by grading their performance through an external agency. The Directorate General of Shipping (DG Shipping) plans to conduct an annual Comprehensive Inspection Programme (CIP) of the approved Recruitment and Placement of Seafarers License (RPSL) holders by one of the eight ship classification societies authorised by it. These include the Indian Register of Shipping, Lloyd’s Register Group Ltd, and Bureau Veritas. “The aim is to safeguard the interests of seafarers,” said a government official briefed on the plan. “It will also help seafarers evaluate the credibility of the RPSL agents during the hiring process,” he added.
No oil spillage from stranded oil tanker off Goa coast
A naphtha-carrying ship which has run aground in the sea off the Goa coast has not moved further and aerial survey showed there is no oil spillage from the vessel, the state government said on Saturday. 3000-tonne unmanned oil tanker NU SHI Nalini, which was anchored off Mormugao Port Trust (MPT) harbour, drifted towards Raj Bhavan at Dona Paula beach near here on Thursday.
A statement by the Chief Minister’s Office (CMO) said the ship has about 2,000 tonnes of naphtha, 50 tonnes of heavy oil and 19 tonnes of diesel on board. An expert team of captain K P Jayakumar, Nautical Advisor, Government of India; captain Mohit Behl, Nautical Surveyor, Directorate General of Shipping and Bodh Raj, Engineer and Ship Surveyor, Mercantile Marine Department, Mumbai, alongwith MPT officials were assessing the situation “to plan remedial actions”, it said.