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MPC gambles on scrubbers

Fast-growing Norwegian feeder vessel owner MPC Container Ships has placed firm orders for the installation of exhaust gas cleaning system scrubbers on five of its ships, with options on 50 more of its 68-strong fleet, reports Ship & Bunker.
MPC said its decision to invest in scrubber technology was in response to “significant interest from charterers”, who would otherwise need to use the more expensive low-sulphur fuel (LSFO) when the IMO’s 0.5% …

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UK updates code of practice for autonomous ships

“It is not if, but when”, said James Fanshawe, chair of the Maritime Autonomous Systems Regulatory Working Group, at the launch of version 2 of the Maritime Autonomous Surface Ships (MASS) UK Code of Practice this week.
Indeed, the Yara Birkeland, an autonomous battery-powered cargo ship has been developed by a Norwegian agriculture company to carry fertilizer 37 miles down a fjord, to its production plant at the port of Larvik.
After …

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Agility reports 12% Q3 earnings increase

Agility posted its results this morning, revealing a KD20m ($65.7m) third-quarter net profit, up 12.3% year-on-year. Revenues rose 10%, while for the first nine months, net profit was up 19.7% to KD58.9m.
Agility Global Integrated Logistics saw gross revenues rise to KD292.2m, up 7%, in the third quarter. Net revenue increases (+5.15%) were driven by air freight, up 15.6% and contract logistics, up 6.4%. Ocean freight net revenue was up 4.2%.
“We …

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Dubai’s DP World sues China over Djibouti trade zone

The row in the Horn of Africa between DP World and the government of Djibouti rumbles on, and now appears to be dragging the Chinese government to the courts. The Dubai operator is suing it for the investment of state-owned port operator China Merchants and its role in acquiring a 23.5% stake in Djibouti’s state-owned port authority [PDSA] and subsequent development of an adjacent free trade zone. PDSA has been …

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Jack Ma bemoans ‘stupid’ trade war; but South-east Asia is upbeat

Alibaba founder Jack Ma has called the trade war “the most stupid thing in this world”. While tensions rise, with an increasing expectation that the US will add more tariffs on Chinese exports next year, Mr Ma argued that in fact China was soon to become a major buyer of foreign products, as the services sector, rather than manufacturing, was now powering its job growth.
Not everyone, however, is set to …

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Chinese economy slowing faster than expected – worst yet to come

Bad tidings loom for China, with its economy reportedly slowing far faster than expected. The South China Morning Post reports the situation is likely to spur Beijing into introducing new growth-supporting measures to avoid returning to its “battle-tested” strategy of large-scale monetary and fiscal stimulus. Even so, the news will be particularly concerning for an economy that has yet to experience the full force of its trade war with the …

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Trump’s next tariff blow could be 10 times worse for US shoppers

Bloomberg is reporting that the next round of China-US tariffs could be the costliest yet for American consumers. According to the report, the US will announce tariffs on all remaining Chinese imports by early December, with the impact on consumers as much as 10 times worse than the tariffs thus far implemented. Expected to take effect in February, they would hit finished goods including iPhones and Nike trainers – so …

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Pirates seize 11-strong crew of Maersk-chartered containership off Nigeria

Pirates have seized 11 crew members of a Maersk-chartered containership off the coast of Nigeria, Reuters reports. Eight of those seized are Polish nationals, alongside two Filipinos and one Ukrainian. The vessel – Pomerania Sky – belongs to Peter Dohle subsidiary Midocean, which issued a statement shortly after the attack. “Our priority is securing the earliest release of the 11 crew who have been taken and we are working closely …

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2020 ship fuel overhaul will cost Russian oil firms billions

Rules mandating cleaner shipping fuels – set to take effect from 2020 – will hit Russia’s wallet. The country is the world’s largest exporter of high-sulphur oil and, according to Bloomberg, it does not look prepared for the change. Unlike its competitors in Europe and the US, which have braced themselves and made necessary changes, Russian companies have reportedly done very little. One analyst said the country had no chance …

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