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Bio-lng fuel seen as ‘prime pathway’ to carbon neutrality

The gradual introduction of bio-LNG alongside synthetic LNG is expected to incrementally decarbonise shipping towards IMO’s 2050 target of reducing greenhouse gas (GHG) emissions by 50 percent compared to 2008 levels. In a recent report by SEA-LNG, it was noted that LNG as a marine fuel has moved from being a niche option to a mainstream fuel of the future. Instead of avoiding making a decision and waiting for technologies to develop in the future, LNG enables shipowners to reduce emissions now while protecting the future. The report noted the need for lifecycle analysis with current data taking actual operational environments into account, and working with seafarers, ports and port communities is essential. Specifically, the industry must make decisions on future fuels on a well-to-wake basis, looking at total emissions throughout the lifecycle of a fuel,” the SEA-LNG report mentioned.

Tanker shipping outlook looks promising up till 2025

In a 2021-2025 Tanker Market Outlook by McQuilling Services, the shipbroking and consultancy firm finds crude fundamentals under intense pressure entering 2021 on subdued economic activity, although expectations for a sustained but gradual recovery remains intact. The traditional tone-mile demand growth is projected to increase by 5percent for VLCC tankers this year. However, including demand changes from the unwinding of floating storage, the McQuilling report forecast a 12.5 percent reduction year-on-year. As the world restores demand following the Covid-19 demand disruptions, we find structural challenges to the crude demand story over the medium term, including decarbonisation efforts and the inclusion of biofuels into product supply,” the Tanker Market Outlook report stated. As such, we project that crude demand likely peaked in 2019, indicating that the fundamental outlook for crude tanker demand will face headwinds over the longer term.

Port of Cartagena passes 3m teu mark in 2020

Cartagena reported an increased cargo volume of 6.5 percent in 2020 and surpassing the 3m teu barrier to handle 3.13m teu. Cartagena commercial director Giovanni Benedetti told that it was the first time that we pass the mark of 3m teu. Last year, the terminal positioned itself as an important transhipment hub for the Caribbean area moving 2.3m teu, growing 7.7 percent in transhipment volume. Cartagena reported an increased cargo volume of 6.5 percent in 2020 and surpassing the 3m teu barrier to handle 3.13m teu. Furthermore sources also reported that it was the first time that we pass the mark of 3m teu. Last year, the terminal positioned itself as an important transhipment hub for the Caribbean area moving 2.3m teu, growing 7.7 percent in transhipment volume. Although figures show growth in volume, revenues fell slightly “because imports that decreased 9.5percent, is financially more important for us as it brings storage fees. Exports grew by 4.4 percent boosted by a rise in dried and reefer products, the latter increasing by 56.6 percent. Cartagena added 800 plugs to a total of 4,000 plugs making the Colombian port the largest reefer terminal in the Americas.

Liberia becomes first ship registry to join neptune declaration

The Liberian Registry joins over 300 owners, operators, and maritime organisations in this worldwide call to action to end the unprecedented crew change crisis caused by Covid-19. I am very proud to have the Liberian Registry join as signatory to the Neptune Declaration. It is an honour for us to sign, and we pledge to continue our efforts in facilitating crew changes aboard our 4,600 vessels around the globe, said Alfonso Castillero, Chief Operating Officer of the Liberian International Ship and Corporate Registry (LISCR). The Liberian Registry joins over 300 owners, operators, and maritime organisations in this worldwide call to action to end the unprecedented crew change crisis caused by Covid-19. I am very proud to have the Liberian Registry join as signatory to the Neptune Declaration. It is an honour for us to sign, and we pledge to continue our efforts in facilitating crew changes aboard our 4,600 vessels around the globe.

Strongest containership charter market in 12 years yet to reach peak

Soaring container freight rates and a shortage of boxes have been well documented, containership charter rates have also been enjoying their day in the sun, if not quite at the record levels seen for freight rates. A surge in charter rates has been witnessed across all sizes of containerships has led the Howe Robinson Containership Charter Index to stand at 1,293 points last week, its highest level in over 12 years since 2008. Soaring container freight rates and a shortage of boxes have been well documented, containership charter rates have also been enjoying their day in the sun, if not quite at the record levels seen for freight rates. A surge in charter rates has been witnessed across all sizes of containerships has led the Howe Robinson Containership Charter Index to stand at 1,293 points last week, its highest level in over 12 years since 2008. It is also said that certainly these 12 years have been incredibly important, not only the difficulties but also creating the solution to where we are at the moment.

Port of Los Angeles hit by container shortage weeks after acute surplus

Adding to the Port of Los Angeles’ woes of congestion, Covid outbreaks and labour issues, the US gateway port has seen acute excess of boxes change to a shortage in a period of just seven weeks. While earlier in the year the high-volume US box import port was overwhelmed with boxes, now there is a dearth,” said Dr. Johannes Schlingmeier, ceo of Container xChange. The Port of Los Angeles had an average surplus of 0.64 according Container xChange’s Container Availability Index, any value of over 0.5 being a surplus. The surplus was particularly acute in weeks 37 – 45 last year when the US west coast was awash with empty containers. In week 42 the index peaked at 0.86 for twenty-foot dry containers, and 0.91 for forty-foot boxes. However, as lines aggressively repositioned equipment to Asia, including extra loaders purely for empty boxes, by week 49 container availability in the Port of LA had plunged to 0.27 for twenty-foot boxes, and 0.29 for forty-foot containers.

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