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MOL Signs Cooperation Agreement for LNG Transshipment Projects

Mitsui O.S.K. Lines, Japan Bank for International Cooperation and NOVATEK have signed a Cooperation Agreement says a press release published on their website.

LNG Transshipment Projects

On 26 September 2019, a Cooperation Agreement for LNG Transshipment Projects in Kamchatka and Murmansk, the east and west of the Russian Federation was launched.

Construction of FSUs

The Projects will construct floating storage units to transship LNG cargoes from ice-breaking LNG ships to conventional LNG ships. The...

http://mfame.guru/mol-signs-cooperation-agreement-for-lng-transshipment-projects/

Container Freight Rates Take a Fall Following the Golden Week

Spot container freight rates on the transpacific and Asia-Europe are coming under intense pressure ahead of a weak outlook for the markets, following China’s Golden Week holiday factory shutdown the first week of October, reports The Loadstar.

Spot rates scenario

The Shanghai Containerized Freight Index (SCFI) show further declines, the North Europe component falling 6.2%, to $710 per teu, while rates to west Mediterranean ports were down 2%, to $877 per teu.

Spot rates for North Europe are about...

http://mfame.guru/container-freight-rates-take-a-fall-following-the-golden-week/

Awake.AI Joins ONE SEA for Smarter Shipping

Industry alliance ONE SEA has signed up Awake.AI to its team to drive standards and pathways to facilitate autonomous shipping, reports The Maritime Executive.

Objective of Awake.AI

ONE SEA, the industry alliance bringing together leading exponents of autonomous ship technology, has made a significant addition to its growing membership, after signing up Awake.AI – a company led by an experienced team of maritime digital innovators.

Awake.AI is aiming to create a new platform and ML models (Machine...

http://mfame.guru/awake-ai-joins-one-sea-for-smarter-shipping/

Weekly Tanker Report – Week 41, 2019

The Baltic Briefing has issued the tanker report for the 41st week of this year. The report dated 11th October 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC
  • In the last few weeks, we have mentioned huge market improvements. This week’s activity puts those improvements into the shade.
  • In the Middle East Gulf, rates have shot up around 100% from a week ago. 280,000mt to the US Gulf, via Cape to Cape, is now rated at WS 90...

http://mfame.guru/weekly-tanker-report-week-41-2019/

More Than 2% Oil Price Fall As US-China Trade Negotiations Falter

According to a Reuters report, oil prices lost about 2% on Monday on worries that global crude demand could stay under pressure as few details about the first phase of a U.S.-China trade deal did little to assure a quick resolution to the tariff fight.

Oil Price Under Pressure

Oil prices also felt pressure as the U.S. dollar .DXY, which has an inverse relationship with crude prices, gained as waning trade deal hopes and ongoing concerns over Britain’s exit from the European Union attracted...

http://mfame.guru/more-than-2-oil-price-fall-as-us-china-trade-negotiations-falter/

Maersk, Cargill, Mitsui Join Forces To Accelerate GHG Reduction Efforts

In a major development, Cargill, Maersk Tankers and Mitsui & Co. have established a strategic collaboration to accelerate the reduction of global greenhouse gases (GHGs) within shipping, says an article published in the Medi Telegraph.

Joining Forces To Accelerate Efforts

All three parties recognize the urgency required to tackle the global issue of climate change and are continually driving progress in their respective lines of business. Today, they are joining forces to accelerate these efforts...

http://mfame.guru/maersk-cargill-mitsui-join-forces-to-accelerate-ghg-reduction-efforts/

Maersk Surcharge Clarity: Shippers To Pay ‘Cost Recovery’ Only

In a major development, Maersk Line has announced that they will only charge for the “extra cost of compliance” as the carrier introduces new IMO 2020 low-sulfur fuels in the coming months, reports Freight Waves

Charge Complexity Baffles Shippers

As reported by FreightWaves, shippers and forwarders have expressed dismay about the complexity of the charges being levied by some container lines as they phase in new low-sulfur bunker fuels ahead of the Jan. 1 International Maritime Organization...

http://mfame.guru/says-maersk-surcharge-clarity-shippers-to-pay-cost-recovery-only/

AAL Adds Four Modern Vessels To Its Fleet!

According to an article published in Seatrade-Maritime, heavy-lift specialist AAL will expand its multipurpose fleet with the addition of four modern vessels.

New vessels added

The addition of four modern vessels will bring the company’s total operating tonnage to just shy of 740,000 dwt.

The four Warnow Class (W-Class) of 33,271-dwt each represent 133,000 dwt or 156,000 cu m of additional capacity for AAL, helping to boost the carrier’s global coverage on key trade routes in Asia-Australia,...

http://mfame.guru/aal-adds-four-modern-vessels-to-its-fleet/

Weekly Maritime Security Report – Week 35, 2019

Protection Vessels International has released the 35th Weekly Maritime Security Report of 2019. The report summarized on 10th October 2019 highlights the various incidents that took place in the past week.

Peru: Robbers board bulk carrier at Callao Anchorage

On 30 September, four robbers boarded a bulk carrier at Callao Anchorage at about 0100 hrs local time. The assailants took the vessel´s Able Seamen (AB) hostage and tied his hands while they proceeded to rob the ship´s properties. When the...

http://mfame.guru/weekly-maritime-security-report-week-35-2019/

Prax Expands Its Bunker Barge Fleet Ahead of 2020

According to an Argus Media report, UK-based fuel supplier Prax has chartered a bunker barge for low-sulphur marine fuels in preparation for the new sulphur cap from January 2020.

About the Bunker Barge

The 1,800 m³ capacity inland bunker barge, Florida, will be based at the port of Zeebrugge in Belgium and is expected to supply fuel compliant with the International Maritime Organisation’s (IMO) 0.5pc sulphur cap. Prax expects that demand for low-sulphur fuel will increase once regulations take...

http://mfame.guru/prax-expands-its-bunker-barge-fleet-ahead-of-2020/

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