News

In partnership with West Coast Clean Fuels, LLC (WCCF), Stabilis provided project development, management, engineering, technical and operational services.

“Pasha’s leadership in lowering shipping emissions on West Coast shipping routes is a significant step toward the improvement of the air quality in the region,” commented Westy Ballard, President & CEO of Stabilis, “and we are delighted to have partnered with WCCF to play a part.”

Ballard further commented, “The Port of Long Beach is an important international trading hub for the U.S., and we look forward to working diligently with the Port and our customers to further advance the lowering of emissions in ocean shipping.”

Pasha Hawaii’s MV George III is a 774-foot container ship operating between Long Beach, CA, Honolulu, HI, and Oakland CA and is currently scheduled to bunker every second week at the Port of Long Beach. The vessel is the first of three LNG-powered ships that Pasha is putting into service with the second, the Janet Marie, expected in late 2022 and the third expected to be deployed in mid-2023.

Source: https://www.vesselfinder.com/news/24388-Stabilis-Solutions-Provides-Technical–Operational-LNG-Bunkering-Services-for-First-LNG-Powered-Ship-in-Long-Beach-CA

Ship owners are always looking for indicators, both from the market but also technical, in order to evaluate and determine the future strategy in the market, whether it’s chartering or buying and selling their vessels.

In its latest weekly report, shipbroker Allied Shipbroking said that “in an attempt to clarify the prevailing momentum and trend shifts in the dry bulk market for both asset price levels and freight rates since the onset of the previous year, we have once again turned to utilizing a technical analysis approach. As noted in the graph below, we have used the TRIX (triple exponential average) metric for the freight TCA figures, alongside the RSI (Relative Strength Index) for asset price levels of a 5- year-old units, with both indicators being derived (and equally weighted) from all main size segments (Capesize, Panamax, Supramax, Handysize)”.

“As a quick and small introduction, the TRIX shows the rate of change in a 15-period moving average that has been smoothed exponentially 3 times (with signals given when the line crosses zero), while the RSI measures the velocity and magnitude of price movements (with theoretical “overbought” and “oversold” levels being marked at 70 and 30, respectively)”, Allied said.

Source: Allied Shipbroking

According to Allied’s, Thomas Chasapis, Quantitative Analyst said that “it is beyond the scope of this market view to go into depth as to how good signaling these indicators provide individually in terms of market direction, but rather to show whether the movement of one can potentially give an early incline as to the direction of the other and, at the same time how well both used in tandem can give a clearer view of the market’s overall trajectory. It seems that the TRIX indicator has given several “correct” early signals for the RSI. Looking at the graph, most of the zero-line crossovers of the TRIX were noted within a time frame just prior to the RSI following this same trend”.

He added that “at this point though, I would focus on the shifts noted during the summer period, which at that time, adequately reflected the current prevailing sentiment amongst market participants. The TRIX gave a bearish sign roughly at the midpoint of the summer period, while for the parties more focused on the SnP market, there was a time lag of around 3-weeks before the RSI line crosses the overbought line marker (in green color), indicating that an exit strategy from an asset would an optimal choice at that point. The explanatory “power” of the combination of these two technical oscillators proves to be robust within this market regime. The above analysis is not exhaustive as to how bearish the overall dry bulk market tone is at this point. It is a mere approach using a different angle to analyze one view of the market’s state and risk, showcasing potential hedging opportunities and strategies, while “smoothing out” the excessive noise and contrasting signals that tend to appear in such a volatile market”, Mr. Chasapis concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

Lockport, La., headquartered Bordelon Marine LLC has signed a one-year term charter agreement, starting in July 2022, with Subsea 7 i-Tech US Inc. for the M/V Connor Bordelon.

Built by Bordelon Marine Shipbuilders in 2013, M/V Connor Bordelon was designed and constructed on the premise that not all subsea tasks requires a large subsea vessel and that here are a range of missions that can be accomplished with two ROVs, a small crane, and smaller high spec. vessel.

The 260-foot DP2 Jones Act compliant Ultra-Light Intervention Vessel (ULIV) is mobilized with two Schilling 150 HD Work Class ROVs with high spec survey capabilities, operated by Subsea 7.

The vessel is configured to support Inspection, Repair & Maintenance (IRM) operations for clients operating in U.S. waters and regional international locations.

“We look forward to working with Subsea 7 in support of their U.S. and international IMR and light intervention scopes,” said Bordelon Marine President & CEO Wes Bordelon. “Our companies have developed a strong working relationship over the past few years which has laid a solid foundation for safe and consistent vessel operations.”

Source: https://www.marinelog.com/offshore/bordelon-marine-signs-uliv-charter-agreement-with-subsea-7/

Global container shipping turned a corner in the second quarter of 2022 according to the findings of the latest Quarterly Review of the market produced by MDS Transmodal and Global Shippers Forum.

Covid lockdowns in China, suppressing supply of manufactured goods and demand for raw materials, and plummeting sentiment in consuming countries, due to rising interest rates and energy prices, contributed to a fall in average earnings per container carried for the first time since 2020. (Graph 4.1)*

While total container carryings were up on Q1, this volume remained below the level recorded in the same period a year ago (Graph 1.2). This was despite traffic that had switched to other modes or to bulk shipping earlier in the year returning to the more traditional containerised mode.

The reliability and consistency of port calls showed a small improvement in Q2, but this was seemingly made by intermediate port calls being missed altogether. The capacity lost to ‘skipped’ ports remains high (Graph 7.2).

A reshaping of container shipping service patterns seems to be underway with a further increase in Q2 of the number of services connecting no more than two regions, together with a reduction in those linking more than two regions (Graph 2.2). In practical terms this means long, multi-port ‘loop’ schedules are being replaced by ‘shuttle’ services with transhipments required at hub ports in order for containers to reach their ultimate destinations.

Graph 4.1

Mike Garratt, Chairman of MDS Transmodal commented, “In the last quarter we have seen global network capacity grow marginally but underlying demand stay flat. Spot freight rates are now falling steadily and it will be interesting to see as a consequence the share of the minor bulks trade that returns to the major lines. The direct connectivity and reliability of making port calls offered to shippers continues to deteriorate.

Graph 1.2

In welcoming the Quarterly report James Hookham, Director of GSF, said, “This is the first time the GSF/MDS Transmodal Quarterly Review is showing a significant change in the direction of travel. This is just one set of data points, but shippers are telling us the world economy, international trade and the global shipping market have entered a new phase, with different factors at work compared to the past two years.”

Graph 7.2

Over the coming months, GSF and MDS Transmodal will continue monitoring whether the opportunistic gains made by shipping lines since 2020 are consolidated into a strategic shift in rates and service patterns imposed on shippers, or whether different carriers will respond instinctively and distinctively to the changing conditions.

Graph 2.2

James Hookham continued, “This change in market dynamics could provide a context for the use of freedoms granted to shipping lines under anti-trust immunity and Block Exemption legislation to re-engineer an industry-wide shift in capacity deployment, service patterns, port call frequency and market share concentration. Recent experience has shown this is not a market where regulators can ‘legislate and forget’ hoping expected behaviours are observed.

The number of parameters needed to monitor the market are many and complex and GSF and MDS Transmodal invite competition regulators around the world to ‘watch this space’ with us over the coming months”.
Source: MDS Transmodal

Container volumes in head-haul and regional trades are the key drivers of container vessel demand, average container rates, liner operator profits, and, since 2020, port congestion. According to Container Trade Statistics, combined head-haul and regional trade volumes fell 0.4% y/y in the first half of 2022. Head-haul volumes were 1.3% lower than a year ago while regional volumes were 0.6% higher. Under normal market circumstances the peak season in key head-haul trades should lift Q3 volumes. However, recently released volume statistics indicate that there may be no peak season in 2022 but it is very likely that volumes will slow in Q4.

In July, the combined head-haul and regional trade volumes fell 1.5% m/m but were up 1.5% y/y. While this initially seems to be a relative improvement in volumes, compared to first half results, the figure appears in a different light when historical seasonality is considered.

As an example, in the Far East to North America trade lane, volumes in July have historically been on average 7.0% higher than June volumes due to the beginning of the peak season. However, this year volumes were 3.3% lower in July than in June. Applying historical seasonality, volumes should have been nearly 200,000 TEU and 10.6% higher than actual volumes.

Using the same principle for all head-haul and regional trade lanes, the combined July volumes should under normal circumstances have been 3.3% higher; 4.3% higher in head-haul trades and 1.9% in regional trades. Overall, volumes would then have been 4.9% higher than July 2021 instead of 1.5%. This is partly because it in 2021 was the first time in recent years that volumes in July were lower than in June.

Applying the same seasonality-based calculation to the rest of 2022, the full year volume estimate ends at 77.8 million TEU and 63.7 million TEU for head-haul and regional trades respectively. In total, that would leave the combined volumes at 141.5 million TEU and 1.3 million TEU lower than in 2021 (a reduction of 0.9%). Head-haul volumes would be down 3.3% y/y while regional volumes would be up 2.3% y/y.

Focusing on the rest-of-year period from August to December, the calculation indicates that combined head-haul and regional trade volumes will be down by 1.9% y/y. From a congestion perspective it is interesting to note a 10.7% y/y and 8.2% y/y fall in import volumes to the Europe and Mediterranean region and North America respectively.

“Considering the risk of energy shortages in Europe during winter and that conditions for consumers and businesses are likely to get worse before they get better as the year progresses, it is possible that volumes could end even lower,” says BIMCO’s Chief Shipping Analyst, Niels Rasmussen.

“Though we appreciate that this approach to forecasting rest-of-year volumes may be somewhat simplistic, the overall forecast does tally with the economy-based forecasts in our recently published Container Market Overview and Outlook report. The prediction will most likely not end up 100% accurate, but we do believe the overall trend will end up correct, confirming a very muted peak season in key head-haul trades and lower Q4 volumes in line with normal seasonality,” Rasmussen says.
Source: BIMCO, By Neils Rasmussen, Chief Shipping Analyst

Constructed at Austal USA’s Mobile Alabama shipyard, EPF-13 is the first Spearhead-class Expeditionary Fast Transport (EPF) ship with capabilities for V-22 Osprey flight operations and enhanced medical support. It is also the United States Navy’s largest ship with the capability to operate as an unmanned surface vessel (USV).

Austal Limited Chief Executive Officer Paddy Gregg said the completion of acceptance trials for EPF-13 was a significant milestone, being the first surface vessel constructed by Austal USA with autonomous capability.

“Apalachicola is the first EPF we have delivered with autonomous capability that demonstrates new technologies that will ultimately enable unmanned missions for the United States Navy, Mr Gregg said.

“We’re very pleased with the performance of the ship, which was rigorously tested over several months by the Navy and teams from Austal USA, L3Harris and General Dynamics.

“We’re looking forward to seeing what she can do when she commences operations with Military Sealift Command following delivery later this calendar year.”

During acceptance trials comprehensive testing is conducted on the ship’s major systems and equipment to demonstrate their successful operation and mission readiness. The United States Navy’s Board of Inspection and Survey participates throughout the trials to validate the quality of construction and compliance with Navy requirements.

In addition to builder’s trials, EPF 13 went to sea five times over the past several months allowing Austal USA, L3Harris and General Dynamics Mission Systems to test and analyze not only her typical ship systems but those resulting from autonomous design and construction contract modifications required by the Navy to establish EPF 13 as an autonomous prototype.

The work included installation of a perception and situation awareness suite, an autonomy controller, an autonomous machinery control system, and automation enhancements to the machinery plant improving hull, mechanical, and electrical reliability. The enhancements will allow EPF-13 to operate autonomously for up to 30 days while retaining the capability for manned operation.

USNS Apalachicola is planned for delivery by the end of the calendar year and will be the 13th EPF ship to join the United States Military Sealift Command’s global fleet.

Austal USA is currently constructing Cody (EPF-14) and Point Loma (EPF-15) and is under contract to build EPF-16. Each of these ships are being constructed to “Flight II” specifications that incorporate Role 2E medical capability and capabilities to support V-22 Osprey flight operations.

Source: https://www.vesselfinder.com/news/24390-Future-USNS-Apalachicola-EPF-13-Completes-Acceptance-Trials

Australian hydrogen shipping start-up Provaris Energy has teamed up with French renewable energy developers Total Eren to transport green hydrogen to Asia and Europe, where the application of Provaris’ compressed hydrogen storage and transport supply chain can be applied. Provaris is developing a 26,000 cu m compressed hydrogen carrier dubbed H2Neo, which it hopes will be constructed in mid-2023, pending approval.

Total Eren is specialized in the development, financing, construction, operation and maintenance over the long-term of renewable energy power plants (mainly solar and wind) worldwide. In particular, Total Eren is working on several large-scale green hydrogen projects globally, including Latin America (Chile, Argentina, Brazil, Colombia), in Australia, and in Africa (Morocco, Egypt and Mauritania).

A memorandum of understanding will provide a framework for Provaris and Total Eren to work together on the identification and assessment of green hydrogen projects currently developed by Total Eren that can utilize Provaris’ GH2 Carriers for bulk transport of compressed hydrogen in markets that require to import volumes of pure gaseous green hydrogen.

The agreement includes the development of solutions that will meet the requirements of off-takers, port authorities, shipyards, and ship operators.

It also provides Provaris with a key partner to facilitate and accelerate the delivery of the first pure gaseous hydrogen (GH2) carrier, including investigation of a future financing scheme, as well as opportunities for an in-house developed compressed floating hydrogen storage solution (pictured below).

“Our discussions with Total Eren over time have identified a strong alignment on the commercial and technical benefits of compression for the storage and transport of hydrogen,” Provaris managing director Martin Carolan said. “We look forward to a closer relationship to facilitate and accelerate the delivery of the first fleet of GH2 carriers.”

Source: Provaris

ICCT (International Council on Clean Transportation) published a report, focusing on ships trading with the European Union, predicts a tripling of demand for LNG as marine fuel between 2019 and 2030, based on trends in fuel consumption.

The idea that liquefied natural gas (LNG) can help mitigate the climate impacts of the maritime shipping sector rests on the assumptions that ships can switch to bio and e-LNG (“renewable” LNG) in the future and that switching would result in low greenhouse gas (GHG) emissions. For this to happen, there must be enough renewable LNG to meet future demand and using it must result in a substantial reduction in GHG emissions on a life-cycle basis compared to fossil LNG. Understanding whether these assumptions are realistic is important for policymakers, including in the European Union, which has committed to reducing its GHG emissions by at least 55% below 1990 levels by 2030 (that is equivalent to a 41% reduction from 2019 levels).

The report also estimates that renewable LNG will cost seven times more than fossil LNG in 2030 and, therefore, subsidies or other policies would be needed to encourage its use.

The well-to-wake (WTW) carbon dioxide equivalent (CO₂e) emissions associated with three 2030 scenarios in the European Union are shown in the figure above. Compare the scenario in which ships use 100% renewable LNG in 2030 (far right, representing a €50 per gigajoule subsidy) to emissions from using 100% fossil in 2019 (far left). As shown, using renewable LNG could cut WTW CO₂e emissions by 38% based on 100-year global warming potentials (GWP, labeled as CO₂e100) but raise emissions 6% based on 20-year GWP (CO₂e20) because of methane’s strong near-term warming effects. Focusing on the orange portions of the bars, even using 100% renewable LNG doubles methane emissions compared to 2019; this is primarily because of methane slip from marine engines.

For renewable LNG to significantly contribute to achieving climate goals, methane slip from marine engines needs to be virtually eliminated and methane leaks upstream need to be greatly reduced. Additionally, methane leaks from onboard fuel tanks and cargo tanks, which researchers are still working to adequately quantify, would need to be near zero. It is important for policymakers and stakeholders to understand that other fuels, including synthetic diesel and green methanol, could offer low life-cycle emissions without the methane problem.

Source ICCT

Larger at the time than either the Suez or Panama canals, the St. Lawrence Seaway was officially inaugurated on June 26, 1959 by young Queen Elizabeth II and U.S. President Dwight Eisenhower. The latter had overcome initial strong opposition in Congress to the colossal project.

Widely regarded as one of the engineering marvels of the 20^th century, the marine highway’s 13 Canadian and two American locks have so far facilitated the movement of 3 billion tons of cargo.

The Seaway notably allows ocean vessels to deliver general and bulk cargo into the industrial heartland of North America. The Great Lakes-Seaway waterway connects more than 110 commercial ports in Canada and the United States. Photos Seaway archives

HMS Britannia in St. Lambert Lock, 26 June, 1959

Source: https://maritimemag.com/en/queen-elizabeth-ii-inaugurated-st-lawrence-seaway/

Scrubber manufacturers are increasingly adapting their technologies to move into the broader carbon capture domain. To that effect, South Korean HMM has just signed a memorandum of understanding (MoU) with compatriot Panasia to collaborate on developing onboard carbon capture systems.

Under the terms of MoU, HMM and Panasia will perform a feasibility study, economic analysis and risk assessment. In addition, the handling process of captured CO2 is one of the vital areas of study. Based on research findings, HMM is expected to install the carbon capture system and perform an operational test on its vessels.

Kim Gyou-bong, HMM Chief Maritime Officer, said, “Carbon capture technologies are one of the alternatives in support of the net-zero ambitions of the global community” and added, “We will continue to participate in collaborative partnerships to develop onboard carbon capture solutions on our pathway to carbon neutrality.”

As an environmental initiative, HMM unveiled its target of reaching net-zero carbon emissions across its entire fleet by 2050. HMM explores various sustainable energy sources to achieve the target, including biofuels, LNG, hydrogen, and green ammonia.

Source: HHM

Newer Posts

Older Posts

Stabilis Solutions Provides Technical & Operational LNG Bunkering Services for First LNG-Powered Ship in Long Beach, CA

Looking Into the Current Dry Bulk Market Trends: A Technical Approach

Bordelon Marine signs ULIV charter agreement with Subsea 7

Container shipping market turns a corner … in lockstep?

Head-haul and regional container trade volumes fall 1.5% m/m in July

Future USNS Apalachicola (EPF-13) Completes Acceptance Trials

Provaris and Total Eren signs MoU to ship compressed hydrogen to Europe and Asia

ICCT report predicts a tripling of demand in Europe for LNG as marine fuel between 2019 and 2030

Queen Elizabeth II inaugurated St. Lawrence Seaway

HMM partners with Panasia to study onboard carbon capture system

New Requirements for Ballast Water Record Books (BWRBs)

PSC focus on NOx technical files and machinery components

AI’s Strategic Role in Maritime Security

Quick Menu

Company DETAILS

ISO 9001:2015 CERTIFIED