Inventory of Hazardous Materials (IHM) Archives - Page 2 of 10 - SHIP IP LTD

The EU Ship Recycling Regulation came into force on 31 December 2020 and effects any in-service ship of 500 GT or over calling at any EU* port or anchorage (regardless of flag). It requires that vessels hold a valid and certified Inventory Hazardous Materials (IHM) on board.

This also continues to apply under the UK Ship Recycling Regulation (UK SRR), following the UK’s exit from the EU.

IHM is a structured system to control hazardous materials onboard ships and achieve compliance with both (EU SRR) and the Hong Kong Convention (HKC) for the Safe and Environmentally Sound Recycling of Ships.

Source: lr

Source: abs-group

Eyeing indigenous production of containers amid a global surge in demand, the Centre is looking to develop Bhavnagar in Gujarat as a container hub and has set up pilot projects for its manufacturing, Union Minister Mansukh Mandaviya said.

The initiative aimed at attaining self-reliance in container production eyes Rs 1,000 crore investment from private players and looks to create one lakh jobs.

Source: economictimes

The time is up for the owners of any ships calling at EU ports or anchorages to arrange surveys, required by the EU Ship Recycling Regulation, to identify if hazardous materials including asbestos, are present on board. Will such surveys lead to an unwelcome and unexpected surprise with asbestos estimated to be present on a significant number of ships? Can owners be confident of relying on certification that the vessel is “asbestos free” when built? The answer for some owners may unfortunately be no.

Over the years, the IMO have increased their restrictions on the permissible levels of asbestos contained on new build vessels using the framework of SOLAS. Since 1 January 2011, the presence of any asbestos at all in new build vessels has been prohibited.

This is because of the risks of asbestos to human health which have been well recognised for some time. Asbestos is an effective insulation material (as well as being fire resistant) and was traditionally used for that purpose on ships. However, it poses a risk when released into the atmosphere. The on-board environment of a ship’s pitching and rolling, as well as the vibrations of the engine, can encourage the release of dangerous asbestos fibres which can then be inhaled by crew and visitors on board. In-service repairs and modifications can also give rise to the same risk. Therefore, although much recent regulation has focussed on the risks arising at the time of ship recycling, asbestos on board can also pose a risk to health during the operation of the vessel. It can also expose shipowners to potential personal injury claims by visitors and crew members as well as imposing additional costs and operational constraints.

The detection of hazardous materials on board commercial ships is addressed in the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (the Convention). The Convention, adopted in 2009 but not yet in force, will require all new commercial vessels over 500GT to carry an Inventory of Hazardous Materials (IHM) listing all hazardous materials on board the vessel, their amounts and their locations.

Although some states, notably Australia and the Netherlands, require an independent approved surveyor to confirm the absence of asbestos before a ship can be entered with their flag, the majority have no such requirement. Therefore, as the Convention is not yet in force, there is limited practical regulation of the problem. An owner may have a ship that contains large quantities of asbestos but have no idea about this.

Source: maritimecyprus

NYK recently announced that it was joining the Ship Recycling Transparency Initiative (SRTI), making it the first Japanese shipping company to join the independent effort design to promote transparency and improve the shipping industry’s recycling policies and practices. According to SRTI, NYK also became the twelfth shipowner to disclose its approach to recycling vessels, bringing the total number of signatories committing to the principles to 28 organizations.

The Ship Recycling Transparency Initiative is an independent effort hosted by the Sustainable Shipping Initiative. It is a collective effort that brings together the shipping industry, investors, cargo owners, and broader stakeholders to improve ship recycling policy, practice, and performance. The SRTI follows a voluntary market-driven approach to sustainable ship recycling practices, promoting information sharing on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

“The NYK Group places environmental, social, and governance (ESG) factors at the center of its business management. Through the SRTI, NYK can provide transparency in ship recycling, which we believe we can bring about improvements and influence needed,” said Hitoshi Nagasawa, President and Chief Executive Officer of NYK Line. “We are committed to promoting and contributing to raising standards of safety and sustainability.”

The practices of the shipping industry have come under increasing pressure based on numerous reports regarding conditions in the shipbreaking industry, which is mostly based in third-world countries. Ships contain large amounts of high-quality metals, which many of these countries sorely need. However, there has been a high level of attention on industrial accidents and environmental pollution when ships are dismantled.

NYK notes that as early as 2008, the company established its ship-recycling policy, which has been further updated to incorporate elements of the 2009 Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships. The policy includes a requirement to conduct an inventory of hazardous materials which is to be presented to the yard when the ship is delivered for scrapping.  The policy also calls for NYK to visit the yards, work with yards that have been issued a Statement of Compliance, and periodically certify that the yards are maintaining the level of occupational and environmental safety.

By participating in the SRTI effort NYK says it will further promote transparency of the ship-recycling process so that stakeholders can be assured that NYK-owned vessels are being safely and properly recycled. At the same time, NYK will promote responsible ship recycling within the global shipping industry.

Further, NYK notes in its policy that to help ship recycling yards in India comply with the Hong Kong convention as soon as possible, Japan Marine Science, a member of the NYK Group, has provided consulting services to 70 ship recycling yards in India. The consulting has included civil engineering work for renovation, selection of equipment, such as waste incinerators and hazardous material treatment equipment, assistance in bidding, and assistance in construction management in the “Preparatory Survey on the Ship Recycling Yard Improvement Project in India” conducted by the Japan International Cooperation Agency (JICA).

The practices of the Asian scrapyard including those in India have come under increasing scrutiny in recent years. Starting in 2019, the EU began requiring all EU-flagged ships over 500 GT to be scrapped in approved recycling facilities, but the EU has yet to approve any facilities in South Asia. Recently it was reported, that Danish authorities are investigating the demolition sales of four former Maersk-operated vessels that ended up at Indian scrapyards.

“We are glad to welcome NYK to the SRTI community and are encouraged to see momentum continue to build behind the importance of transparency and accountability on sustainability challenges such as ship recycling,” says Andrew Stephens, Executive Director of the Ship Recycling Transparency Initiative. “Shipowners like NYK are holding themselves to account before key stakeholders, making ship recycling data available for interested parties to review, scrutinize, and use to make informed decisions.”

Source: maritime-executive

Strong results and cash flow delivery

• Reported profit for the quarter was $4.7 billion, compared with $1.4 billion profit for the fourth quarter 2020.
• Underlying replacement cost profit* was $2.6 billion, compared with $0.1 billion for the previous quarter. This result was driven by an exceptional gas marketing and trading performance, significantly higher oil prices and higher refining margins.
• Operating cash flow* of $6.1 billion was underpinned by strong business performance, with a working capital* build (after adjusting for inventory holding gains) of $1.2 billion including $0.5 billion of severance payments. This build was largely offset by other timing differences.
• Divestment and other proceeds were $4.8 billion in the quarter, including $2.4 billion from the divestment of a 20% stake in Oman Block 61 and $1.0 billion final instalment for the sale of the petrochemicals business.

Net debt target achieved, $500 million share buybacks in the second quarter

• Net debt* reduced by $5.6 billion to reach $33.3 billion at the end of the quarter. Having reached $35 billion net debt, bp is now retiring this target and remains committed to maintaining a strong investment grade credit rating.
• bp is introducing an intent going forward to offset dilution from vesting of awards under employee share schemes through buybacks. Surplus cash flow* is now defined after the cost of buying back these shares.
• In addition, bp remains committed to returning at least 60% of surplus cash flow to shareholders through share buybacks, subject to maintaining a strong investment grade credit rating. In considering the quantum of buybacks, the board will take account of the cumulative level of, and outlook for, surplus cash flow with the intention to provide guidance on a quarter-forward basis while macro uncertainties remain.
• For 2021:
• In the second quarter, bp intends to offset the expected full-year dilution from the vesting of awards under employee share schemes through buybacks, at a cost of around $500 million.
• Subject to maintaining a strong investment grade credit rating, the board is committed to using 60% of surplus cash flow for buybacks, planning to allocate the remaining 40% to further strengthen the balance sheet and support our strong investment grade credit rating.
• During the first quarter, bp generated surplus cash flow of $1.7 billion after having reached its net debt target of $35 billion. During the second quarter, cash flow is expected to be impacted by the $1.2 billion pre-tax annual Gulf of Mexico oil spill payment, further severance payments and a smaller improvement in realized refining margins relative to the quarter to date rise in our RMM*. As a result of these factors we expect a cash flow deficit in the second quarter.
• In the second half of the year bp expects to generate surplus cash flow above an oil price of around $45 per barrel with an RMM of around $13 per barrel and Henry Hub of $3 per mmBtu.
• bp will provide an update on our third quarter buyback plans at the time of our second quarter results, taking into account the surplus cash flow in the first half of the year as well as the outlook for surplus cash flow.

Disciplined strategic progress

• Oil production & operations: in April in the Gulf of Mexico, the Argos platform for bp’s Mad Dog 2 development arrived, on track for start-up in 2022, and bp announced the high-quality Puma West oil discovery.
• Customers & products: bp agreed to acquire a stake alongside Daimler and BMW in Digital Charging Solutions, a leading developer of digital charging software, and bp pulse announced the roll out of new EV-only ultra-fast charging hubs across the UK. bp also added further strategic convenience sites* to its network during the quarter.
• Gas & low carbon energy: bp and EnBW were selected as preferred bidder for UK offshore wind leases and bp completed formation of its US offshore wind partnership with Equinor. bp announced plans for the UK’s largest blue hydrogen production facility in Teesside. Start of production from two new gas projects – Raven in Egypt and Satellite Cluster in India – was announced in April.

Source: hellenicshippingnews

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Source: uschemicalstorage

Source: eagle

In shipping there have been clear winners and loser in the global war against the Covid-19 pandemic. In the latter camp sit cruise ships and to some extent tankers, who have seen earnings spike from storage demands only to fall back as international oil demand waned.

In prime position in the winners’ circle are container ships. Freight rates have climbed ever higher since the start of the pandemic and while they were starting to settle towards the end of the first quarter, the mishap with the Ever Given in the Suez Canal gave them a shot of adrenaline.

This renewed growth has raised concerns that inflated container freight rates will hamper the ability of the world economy to recover, with shipping rates a major component of trade costs.

In a policy brief, UNCTAD has examined why container freight rates surged during the pandemic and what can be done to avoid a similar situation in the future – although container ships operators might prefer those increases to go unchecked.

Container rates have a particular impact on global trade, since almost all manufactured goods – including clothes, medicines and processed food products – are shipped in containers, UNCTAD noted. “The ripples will hit most consumers,” said Jan Hoffmann, head of UNCTAD’s trade and logistics branch. “Many businesses won’t be able to bear the brunt of the higher rates and will pass them on to their customers.”

At the start of the Covid-19 pandemic, expectations were that seaborne trade, including containerised trade, would experience a strong downturn. However, changes in consumption and shopping patterns triggered by the pandemic, including a surge in electronic commerce, as well as lockdown measures, in fact led to increased import demand for manufactured consumer goods, a large part of which is moved in shipping containers, noted UNCTAD.

This was supported by the lessening of lockdown measures, recoveries and stimulus packages that supported consumer demand, and inventory-building and frontloading in anticipation of new waves of the pandemic, which all contributed to more demand for containerised services.

Source: hellenicshippingnews