#Maritime

New world record set for shipping rates: $350,000 per day

LNG shipping rate ship

It has never been more expensive to get a container of goods across the ocean. But it’s not just containers. Liquified natural gas (LNG) shipping is also rewriting the record books.

Argus reported that BP has just employed the ship LNG Abalamabie for $350,000 per day. That makes it the most expensive vessel charter in maritime history, surpassing the $300,000-per-day peak previously recorded in the very large crude carrier (VLCC) segment.

What’s different about the LNG record — compared to...

https://www.freightwaves.com/news/new-world-record-set-for-shipping-rates-350000-per-day

South Carolina Ports continues riding volume wave

The South Carolina Ports Authority said “impressive volumes” helped it end 2020 with its strongest December on record.

South Carolina Ports handled 209,606 twenty-foot equivalent units (TEUs) at the Wando Welch and North Charleston container terminals in December, a 11.6% year-over-year increase.

Loaded imports were up 14.4% year-over-year and loaded exports increased 8.6%, “highlighting a strong balance for ocean carriers and a thriving Southeast market,” the SCPA said in Monday’s announcement.

So...

https://s29755.pcdn.co/news/south-carolina-ports-continues-riding-volume-wave

Don’t expect rate relief from container-ship order spike

container ship orders

In virtually any ocean shipping market, a big jump in newbuilding orders is a headwind for future freight rates. More capacity spread among competing owners strengthens the negotiating hand of cargo shippers.

According to Alphaliner, container-ship orders spiked in Q4 2020. Orders totaled to 673,500 twenty-foot equivalent units (TEUs), the highest quarterly tally since Q3 2015. 

That’s a big jump and cargo shippers may hope for rate relief when those newbuilds eventually hit the water. But they...

https://s29755.pcdn.co/news/dont-expect-rate-relief-from-container-ship-order-spike

Crude Oil Production Cut Down Slows Down Tanker Recover To Second Half

According to a Freight Waves article written by their Senior Editor Greg Miller, Analysts have warned that the tanker recovery will be  a distant dream  as rates are unlikely to recover before the second half of the year over crude oil production cut down 

“It feels a bit like someone stole our clothes while we were enjoying a swim,” mused the analyst team at Fearnleys. They were quoting a political saying and referring to what just went down in the tanker market.

Saudi Crude Production Cut...

https://mfame.guru/crude-oil-production-cut-down-slows-down-tanker-recover-to-second-half/

Diana Shipping Inc. Announces Time Charter With Cargill & C Transport

Diana Shipping Inc. announces time charter contracts for m/v Santa Barbara with Cargill and m/v Salt Lake City with C Transport, says a press  release published on their website.

Time charter contract with Cargill 

Diana Shipping Inc. (NYSE: DSX), announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. 

Charter rate

The gross charter rate is...

https://mfame.guru/diana-shipping-inc-announces-time-charter-with-cargill-c-transport/

Leading Oil Trader Teams Up With Singapore Fund Manager for Energy Projects

As per the report article published in Marine Link, Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management, have agreed to co-invest in mining and energy projects, for a commodity investment to balance the default tights made up by banks.

The deal

The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion, founded and led by former Julius Baer banker Veronica Shim. Envysion will then decide whether to participate via a fund...

https://mfame.guru/leading-oil-trader-teams-up-with-singapore-fund-manager-for-energy-projects/

Emerge’s Leto, marketing expert Pulizzi to keynote Sales & Marketing Summit

FreightWaves Sales & Marketing virtual summit

In a work world that quickly became remote in 2020, organizations faced pressure on a number of fronts – technology, communications and a rapid digitization of the supply chain to name just a few. For sales and marketing professionals used to face-to-face conversations, the challenges were especially acute.

As 2020 turned into 2021, many of the concerns that these professionals faced last year haven’t gone away entirely, and that is leading to a new way to do business. Customer acquisition,...

https://s29755.pcdn.co/news/emerges-leto-marketing-expert-pulizzi-to-keynote-sales-marketing-summit

South Carolina Ports defends hybrid labor model

An unfair labor practice charge has been filed before any containers have been moved at the South Carolina Ports Authority’s new Hugh K. Leatherman Terminal.

At issue is a contract clause that basically says all work at a proposed terminal should be done by International Longshoremen’s Association workers. The SCPA argues the soon-to-open Leatherman Terminal at the Port of Charleston was laid out years before the clause was added to the contract.

Wednesday’s filing with the National Labor...

https://s29755.pcdn.co/news/south-carolina-ports-defends-hybrid-labor-model

‘Blue wave’ stimulus could spur import surge on top of surge

capitol hill stimulus

Could today’s unprecedented boom in containerized imports just keep going year-round? Right through Chinese New Year in February? Through the second quarter, then the fall peak — and all the way into 2022? Could the already overwhelmed global trade network stay stuck at its ceiling until next year?

With COVID hospitalizations at record highs, almost 4,000 U.S. deaths per day and vaccine distribution slow out of the gate, a full-year boom scenario may sound implausible. But it just got more...

https://www.freightwaves.com/news/blue-wave-stimulus-could-spur-container-surge-on-top-of-surge

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