BIMCO Archives - SHIP IP LTD

Dutch scrubber manufacturer Value Maritime is installing a CO₂ capture and storage unit on a 1,036 teu boxship, Nordica, belonging to Visser Shipping. The ship will be operated by X-Press Feeders. The landmark installation is expected to be completed next month.

Value Maritime’s system is based on patented technology to remove CO₂ from exhaust gas. The CO₂ is used to charge Value Maritime’s CO₂ battery, an onboard storage facility which can charge and discharge CO₂. The charged CO₂ battery will be offloaded in ports and transported to CO₂ customers such as the agricultural sector.

Value Maritime claimed it is the first company worldwide to install a capture and storage facility onboard a vessel in operation. Other companies are in a trial stage of similar technology, notably Kawasaki Kisen Kaisha and Wartsila.

“Installing the module will not only be beneficial for our clients, but will bring the maritime industry one step closer to targets set by IMO2030 and 2050,” said Christiaan Nijst, the co-founder of Value Maritime.

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Dutch boxship makes history with CO2 capture and storage installation


Malaysia’s Petronas and Japan’s Eneos have partnered up to jointly develop a clean hydrogen supply chain between the two countries, and to explore other hydrogen opportunities. The companies will carry out a technical-commercial joint study of a hydrogen supply chain which includes hydrogen production and its shipping in liquid form.

Petronas believes the development of liquid organic hydrogen carrier (LOHC) technology is fast gaining traction due to its chemically stable nature that allows for long-term storage and long-distance transport. The company said, the use of LOHC leverages existing conventional oil and petrochemicals infrastructure, which heavily reduces the need to develop new assets.

Petronas and Eneos will also explore low carbon hydrogen production from Petronas’ petrochemical facilities and in the future, green hydrogen produced by renewable energy.

“With emerging clean energy sources like hydrogen, innovation and collaboration with partners in technological development are key, as they contribute towards achieving cost competitiveness and scalability for wider use across businesses and industries,” said Adnan Zainal Abidin, Petronas gas and new energy executive vice president and CEO.

For this project with Petronas, Eneos has applied for funding from the Japanese government’s Green Innovation Fund, which sponsors decarbonisation projects and initiatives. While in Malaysia, the development of a hydrogen-based economy is set to complement future growth as the country prepares to transition towards a low carbon economy.

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Petronas and Eneos to collaborate on hydrogen supply chain


Previous container shipping cycles tended to end in vicious rate-cutting grabs for market share. In 2021, the most extraordinarily profitable year in liner history, rate topping rather than cutting is happening.

France’s CMA CGM shocked fellow liners yesterday by publicly announcing it will stop all spot rate increases through to the beginning of February. The liner, led by Rodolphe Saade (pictured with the French president last week), said the preemptive move was designed to prioritise its long-term relationship with customers in the face of an “unprecedented situation” in the shipping industry.

Lost in all the excitement is the fact that rates will remain sky-high

The rates announcement will stand for all the group’s brands including CNC, Containerships, Mercosul, ANL and APL.

Drewry’s composite World Container index increased by 1% or $97 to $10,083.84 per 40ft container yesterday, 309% higher than the same week in 2020.

CMA CGM recently recorded a record EBIT of $3.81bn for the second quarter, firmly putting it on track to post its greatest ever annual results.

Pouring cold water on the announcement, German liner Hapag-Lloyd insisted it had actually done similar for a number of weeks already.

“We have been doing this for some weeks and for the time being. We also believe that spot rates have peaked and we do not pursue further increases. We hope that the market will slowly start to calm down,” Tim Seifert, director of corporate communications at Hapag-Lloyd, told Splash today.

Commenting via LinkedIn on the surprise tactics by CMA CGM, the world’s third largest carrier, Bjorn Vang Jensen, vice president at container consultancy Sea-Intelligence, predicted some coffee will have been spilled in carrier boardrooms across the globe.

“One cannot but admire this brilliantly executed and deliciously diabolical ‘heads I win, tails you lose’ move,” Jensen wrote, going on to explain: “Worst case, CMA in isolation looks like a hero. Best case, the industry will be forced to follow – in which case CMA still looks like a hero. And best of all: lost in all the excitement is the fact that rates will remain sky-high, they just won’t increase further!”

A new container shipping report from BIMCO this week noted: “Years of low freight rates resulting in rigorous cost cutting by carriers have left them in a great position to maximise profits now that the market has turned. Looking to the future, they have proven adept at using their upper hand at the negotiating table to lock shippers into longer-term contracts at today’s higher freight rates.”

The Shanghai Containerized Freight Index (SCFI) – a key spot pricing benchmark – rose by another 65.51 points today to hit a new all-time high of 4502.65 points.


Some of the biggest shipper names in the world are on the newly formed National Shipper Advisory Committee created by the Federal Maritime Commission (FMC) in the US, one of many measures American regulators and politicians are taking to try and tackle this year’s extreme supply chain crunch.

The committee is comprised of 24 members, evenly divided between those who export cargo from and those who import cargo to the US. It will advise the FMC on policies relating to the competitiveness, reliability, integrity, and fairness of the international ocean freight delivery system. Executives from the likes of Amazon, Ikea, Walmart, Cargill and Louis Dreyfus are on the advisory group.

“I and the other commissioners need rapid access to the perspectives of importers and exporters on the ground dealing with the realities of ocean shipping every day.  We also need them to meet and help guide our efforts and those outside the FMC to improve the system and make it easier, fairer, and more efficient to American shippers,” said FMC chairman Daniel Maffei.

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Walmart, Amazon and Cargill among 24-member new shipper advisory group in the US


Ships are being forced to drift outside Los Angeles and Long Beach as all anchorages are chock-a-block with the total number of boxships waiting for berth spaces to open up at America’s top two gateways set to hit a new all-time high of 50 ships today.

As of last night, the Marine Exchange of Southern California registered a record 49 boxships waiting for berth space in and around San Pedro Bay. More than 15 ships are due to arrive by the end of the weekend.

Giving an update on operations last month, Gene Seroka, the executive director of the Port of Los Angeles, said the challenge facing the entire supply chain amounts to “squeezing 10 lanes of freeway traffic into five lanes.”

The extraordinary congestion seen at America’s main two west coast ports is far worse than the port lockout days of 2002 and 2004.

When the ports of Los Angeles and Long Beach were locked out for 10 days and eight days in 2002 and 2004 respectively, ship queues never exceeded 30 vessels, and yet the the port lockdowns caused significant economic chaos.

“Record backups at the ports of LA/Long Beach are the major driver of delays that are effectively removing an estimated 20-25% of transpac capacity. Combined with still-surging demand for imports, these delays pushed Asia-US West Coast prices up 12% and past the $20k/FEU mark for the first time this week,” Judah Levine, head of research at online box platform Freightos stated in an update yesterday, adding: “As carriers again look to alternate West Coast ports like Oakland and now Portland, volumes have started causing backlogs in East Coast ports such as Philadelphia as well.”

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Number of ships waiting for berth space outside LA and Long Beach set to top 50


New York-listed bulker owner Diana Shipping has entered into a new time charter contract with Koch Shipping for the 2009-built capesize Houston.

The charter commenced retroactively on August 30 and will run through to between July 15, 2022 and October 15, 2022, at a charter rate of $27,000 per day. In February 2019, Koch took the same ship on charter for 14 to 17 months at a rate of $10,125 per day.

Before starting its new charter with Koch, the Houston was with C Transport Maritime at $6,250 per day for the first 30 days and $12,400 per day for the balance of the time charter.

The Greek owner, with a fleet of 37 bulkers on a fully delivered basis, expects to generate around $8.51m of revenue on the minimum time charter period. Earlier this week, Diana

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Diana Shipping clinches new capesize charter with Koch at higher rate


Smugglers suspected of evading sanctions on North Korea have turned to schemes to create fraudulent identities for sanctioned ships, a U.S.-based research group said in a report released on Thursday.

Ships suspected of smuggling have long modified their physical appearance or broadcast false position data, said the report from C4ADS, a non-profit group.

But the practice of “vessel identity laundering” is significantly more sophisticated and not only undermines sanctions, but jeopardizes the integrity of the International Maritime Organization (IMO) ship registration system, it added.

“Given its complexity, vessel identity laundering presents unprecedented challenges for maritime regulators and risks undermining global shipping practices,” the report said.

When asked about the report, a spokesperson for the IMO, the United Nations’ shipping agency, said any specific unlawful practices should be brought to the organization so they could be addressed.

“IMO has been working to address issues related to fraudulent registration and related unlawful practices including the registration of vessels without the knowledge or approval of the relevant national maritime administration,” the spokesperson added. “This work is ongoing.”

North Korea is under strict international sanctions imposed over its nuclear weapons and ballistic missile programmes. Talks aimed at persuading Pyongyang to give up those weapons in return for lifting sanctions have been stalled.

Independent sanctions monitors have reported to the United Nations that North Korea has continued to evade sanctions, albeit at a lower level since the country imposed its own border lockdowns to prevent a coronavirus outbreak since last year.

“The international shipping order has operated on the basis that an IMO number is an authoritative and unique identifier issued to one ship — a real ship, if that has ever needed to be spelled out,” C4ADS said.

But the group’s case studies of two ships allegedly involved in evading North Korea sanctions show how the IMO registration process can be hijacked to issue a registered identity to a non-existent vessel, which in turn can be used to disguise the identity of other ships, the report said.

C4ADS, which says it provides data-driven analysis and reporting on global conflict and security issues, said overall it had observed at least 11 ships engaging in elaborate schemes to create fraudulent ship registrations in recent years.

The C4ADS report outlined ways that law enforcement and civil regulators might detect and disrupt the activities of such vessels using tracking data, satellite imagery, IMO registration records, and other sources of publicly available information.

(Reporting by Josh Smith; Additional reporting by Jonathan Saul; Editing by Pravin Char)

 

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https://www.marinelink.com/news/smugglers-fake-ship-identities-evade-490509


Container shipping firm Evergreen Marine has this week ordered 24 container ships for a total price of up to ~$1.1 billion from CSSC Huangpu Wenchong Shipbuilding in China.

In a Taiwan Stock Exchange announcement on Wednesday, Evergreen said the order comprised newly-built 1,800 TEU, 2,300 TEU, and 3,000 TEU container ships.

More precisely, the company has ordered two 1,800 TEU vessels, eleven 2,300 vessels TEU and eleven 3,000 TEU vessels.

The total transaction price is between $958 million and ~1.1 billion.

Evergreen Marine, the owner of the Ever Given container ship which earlier this year blocked the ship traffic in the Suez Canal, did not share any details on the expected delivery dates.

 

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https://www.marinelink.com/news/evergreen-marine-orders-container-ships-490524


Liza Unity FPSO, set to become Guyana’s second offshore production unit, has been completed in Singapore and has set sail towards Guyana.

Keppel Shipyard, responsible for the construction and integration of the topside modules with the China-built FPSO hull said Thursday it had delivered the FPSO to SBM Offshore. Once in Guyana, the FPSO will be deployed at ExxonMobil’s Stabroek offshore block.

Keppel O&M’s scope of work included the fabrication of several topside modules, the riser balcony, the spread-mooring and the umbilical support structures, as well as the installation and integration of associated equipment and all topside modules onto the FPSO.

Liza Unity is the second in a series of three FPSOs for the Stabroek block offshore Guyana chartered by the consortium of ExxonMobil, CNOOC, and Hess. The Liza Destiny FPSO has been producing oil off Guyana since December 2019, and is currently producing approximately 120,000 gross barrels of oil per day.

The Liza Unity FPSO, which will be spread moored in a water depth of about 1,600 meters, is designed to produce approximately 220,000 barrels of oil per day, with an associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. Credit: SBM Offshore

The FPSO will be able to store approximately 2 million barrels of crude oil.

Keppel has also started work on the third FPSO unit earmarked for Guyana, the Prosperity FPSO. The vessel hull recently arrived at Keppel O&M’s yard in Singapore and work onboard has started. This FPSO is destined for the Payara development in the Stabroek Block.

The prolific Stabroek block is where ExxonMobil has in the past few years found more than 9 billion barrels of oil, with the latest discovery, at the Pinktail offshore well, announced Thursday. Read more.

At least six FPSOs are expected to be online in the Stabroek block by 2027 with the potential for up to 10 FPSOs on the block to develop the current discovered recoverable resource base.

ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.

 

 

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https://www.marinelink.com/news/video-guyanas-second-fpso-sets-sail-490491


The Louisiana Offshore Oil Port (LOOP), the largest U.S. privately owned deepwater crude terminal, has fully reopened its marine operations for imports and exports, a spokesperson said on Friday.

The facility closed on Aug. 28 ahead of Hurricane Ida, which caused extensive damages to U.S. Gulf of Mexico oil production and processing. More than two-thirds of oil production was shut-in on Friday.

There were no vessels docked at the port on Friday, the spokesperson said. However, at least one tanker, the very large crude carrier Arsan, has been waiting since Tuesday to load crude bound for Asia, according to Refinitiv Eikon vessel tracking data.

The largest U.S. offshore producer, Royal Dutch Shell , on Thursday declared force majeure on numerous contracts, leaving at least two cargoes of sour Mars crude oil canceled.

China and South Korea had stepped up purchases of Gulf-produced crude in recent months and now face lengthy delays before shipments arrive. LOOP is one of the largest terminals used for exporting Mars crude, produced in the U.S. Gulf, to Asian clients.

 

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https://www.marinelink.com/news/louisiana-offshore-oil-port-fully-reopens-490538


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