business

Panama Bunker Sale Slumps to 26 Month Low

The Panama bunker sales volumes in October have reached a 26 month low for all products by 321,050 metric tonnes.

Decrease in sales

According to the Panama Maritime Authority, the 18% drop is estimated to be on a 26 month low since August 2016. The low has been attributed to the recent bunker fiasco were the sale of fuel oil plummeted to 15% in September while the distillates have managed to increase by 11%. Furthermore, many vessels are choosing to lift their bunkers in Panama.

October report

The...

http://mfame.guru/panama-bunker-sale-slumps-to-26-month-low/

Law Officer Says UK can Cancel Brexit

  • UK’s Brexit process has started amidst call for calling it off.
  • The advocate general advises that thecountry needs to call it off within two-year’s time  as specified in Article 50 of the EU treaty.
  • As the House of Common debates and votes on this matter, Brexit call off remains hypothetical
  • The UK Government has made it clear that they have no intentions of revoking Brexit.
  • However, the period can be extended by the 27 EU states who formulated the Article 50, say analysts.

The process of...

http://mfame.guru/law-officer-says-uk-can-cancel-brexit/

Fleet Cleaner has won the Maritime Innovation Award 2018

On November 12, at the Maritime Awards Gala organized in Amsterdam, Fleet Cleaner has coveted the prestigious Maritime Innovation Award 2018.

True maritime innovation

The jury members hailed the company for its true maritime innovation. Winning the award is yet another indicator that Fleet Cleaners innovation-driven approach, including the high tech cleaning robot and filtration system, has the potential to revolutionize the hull cleaning industry.

Keen on continuous innovation

Director Alex...

http://mfame.guru/fleet-cleaner-has-won-the-maritime-innovation-award-2018/

Diana Announces Time Charter Contract for m/v Thetis With Hudson

  • M/v Thetis previously chartered US$8,350 per day from a contract with Ausca Shipping Limited.
  • It will now be chartering US$10,650 per day for next 14 -17 months from 16 November 2018.
  • The new developments are set to generate a revenue of US$4.47 million gross.
  • Company’s fleet totals to 48 dry bulk vessels post contract completion.

In a recent development, Diana Shipping announced that they have signed a time charter contract with Hudson Shipping Lines Incorporated. The global shipping company,...

http://mfame.guru/diana-announces-time-charter-contract-for-m-v-thetis-with-hudson/

Freightos Baltic Container Report – Week 45

Report Highlights

As of November 16, Continuing high transpacific ocean prices reflects increased demand. Less Container Load (LCL) and Full Container Load (FCL) bookings on Freightos went up 40% and 42%, respectively last month, a marked contrast to last year when they didn’t increase at all.

Increased US imports from China

“Freightos data shows recent increases in US imports from China. Paradoxically, they indicate that the trade tariffs are driving increased Chinese imports in the short term....

http://mfame.guru/freightos-baltic-container-report-week-45/

Eastern Shipbuilding Group resumes operations

Eastern Shipbuilding Group's two main shipyards are back to work just two weeks after Hurricane Michael devastated the Panama City, Fla., area. Eastern Shipbuilding Group photo

Eastern Shipbuilding Group resumed operations at both of its two main shipbuilding facilities just two weeks after Hurricane Michael devastated Panama City, Fla., and the surrounding communities.

The most powerful storm to ever make landfall in the Florida Panhandle, Hurricane Michael currently stands as the third most powerful hurricane to make landfall in the U.S., topped only by Hurricane Camille in 1969 and the Florida Keys Labor Day Hurricane of 1935. Yet the majority of ESG’s workforce has...

https://www.workboat.com/news/shipbuilding/eastern-shipbuilding-group-resumes-operations/

Record Traffic on Northern Sea Route as COSCO Completes Five Transits


Northern Sea Route Traffic jumps more than 80 percent as COSCO of China completes five transits with more on the way. Shipping giant Maersk also active on route as well as a number of cruise ships. Shipping traffic along Russia’s Northern Sea Route reached new heights during the first eight months of 2018 as cargo volume increased by more than 80 percent compared to the same period last year, Russian media outlets report. The route is, at least during the short summer season, increasingly...

http://www.highnorthnews.com/record-traffic-on-northern-sea-route-as-cosco-completes-five-transits/

Maersk Container Ship Embarks on Historic Arctic Transit


Danish company Maersk, the world’s largest operator of container shipping, is about to send the first-ever container ship through the Arctic along Russia’s Northern Sea Route. While the route has seen rising traffic to transport oil and natural gas in recent years, the voyage of the Venta Maersk, a medium-sized container ship capable of carrying nearly 3,600 containers, will be an industry first.

A Maersk representative involved in the project who spoke on the condition of anonymity confirmed...

http://www.highnorthnews.com/maersk-container-ship-embarks-on-historic-arctic-transit/

US and Russia propose two-way shipping routes in Bering Sea


The United States and Russia jointly propose a routing system for vessels passing through the Bering Strait and Bering Sea. The scheme aims to organize and direct ships along fixed corridors passing through these Arctic waters and thus reduce the risk of collisions.

The proposal comes in the form of a document jointly submitted to the International Maritime Organization suggesting the establishment of six recommendatory two-way routes and six precautionary areas in the Bering Sea and Bering...

http://www.highnorthnews.com/us-and-russia-propose-two-way-shipping-routes-in-bering-sea/

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