business

The tanker report for 11 January 2019 has been compiled, it highlights the various market conditions faced by VLCC, Suezmax, Aframax, and Clean.

• In the Middle East Gulf, the market came under renewed downward pressure, with 270,000mt to China fixed five points lower at WS 57.
• Going west, rates for 280,000mt to the US Gulf were assessed at WS 24.5, basis Cape to Cape.
• West Africa to China basis 260,000mt saw little inquiry and the market dropped 6.25 points to WS 53.75.
• Occidental fixed US...

http://mfame.guru/tanker-report-11-january-2019/

• Piracy in the Gulf of Guinea is negatively affecting the economic potential of the sea for countries in this region.
• In the past 12 months no less than 40 ships were attacked.
• Inspired by UNs’ Security Council Resolution, the 2013 Yaoundé Code of Conduct strives to strengthen maritime security in the Gulf of Guinea.
• Yet, the actual security situation remains low due to other security challenges generating a high demand for law enforcement resources.

Piracy in the Gulf of Guinea is an...

http://mfame.guru/eu-china-and-the-us-need-to-support-counter-piracy-operations/

Protection Vessels International in their latest report highlighted the present maritime situation of the world and the report has been compiled as follows.

On 13 January, two robbers armed with a steel bar boarded an anchored bulk carrier at Caofeidian large oil tank anchorage at 0430 hrs local time. Duty crew sounded the alarm upon noticing the robbers, prompting them to flee before they stole anything.

The robberies are sporadically reported at...

http://mfame.guru/weekly-maritime-security-report-week-2-2019/

In a major development, Eniram, a Wärtsilä company has announced that they are digitalizing La Méridionale’s fleet of the French ferry operator La Méridionale, reports Sea News.

La Méridionale operates from Marseille for more than 80 years and is one of the port’s oldest ship-owners. Its activities have developed considerably since it was founded. It now runs a daily service to Corsica, as well as a once-weekly service to Sardinia for both passengers and freight.

The company has...

http://mfame.guru/la-meridionale-partners-with-wartsila-for-eniram-technology/

• Venezuela’s Navy recently seized Exxon Mobil’s ship contracted to explore its territory off Guyana..
• To minimize potential impacts Exxon Mobil has focused its Guyana exploration program on the eastern half of the territory.
• It has increased recoverable resources here to >4 billion barrel with plans to bring its third rig online in 2020.
• Even in a potential worst-case scenario it is anticipated that Exxon Mobil will be safe.

Exxon Mobil, the largest publicly traded oil supermajor, has recently...

http://mfame.guru/growth-impact-from-venezuelas-seizure-of-exxon-mobils-ship/

In a recent development, Rauna Marine Constructions (RMC) has announced that they have signed a letter of intent with Kvarken Link for a ropax ferry that will run on dual fuel, LNG/biogas/diesel, and batteries, says a report published in Passengership Info.

The car and passenger ferry is set to operate between the Finnish city of Vaasa and the Swedish city of Umeå. The vessel order has a value of approximately €120M (US$138M). The formal construction agreement is to be signed...

http://mfame.guru/raum-wins-e120m-order-for-lng-biogas-battery-ropax/

The Baltic Briefing has published the latest bulk carrier report for the second week of this year. Here are the highlights of the report.

• A slow start followed by a busy 24 hours of improving rates and a firming FFA market fuelled positive sentiment, only to see both paper and physical sales slide the next day.
• West Australia to China rates briefly moved closer to the high $6.00s, but ended the week at $6.25, as a 2002-built vessel fixed at this rate from Dampier. The ship was re-let...

http://mfame.guru/bulk-report-week-2-2019/

• Navios has ordered a newbuild VLCC from Imabari Shipyard scheduled for completion in autumn 2020.
• Imabari expects the improved ship design to  reduce fuel consumption by up to 18%.
• In-built scrubbers of ship are expected to remove up to 97% of sulfur oxide emissions from the exhaust gas.
• The vessel is claimed to reduce the risk of cracks in the hull and increase vessel safety.

Major ship operator Navios has recently ordered a 311,000 dwt newbuild very large crude carrier (VLCC) from Imabari...

http://mfame.guru/navios-orders-new-vlcc-from-imabari/