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Sunday, May 31, 2020

Europe News

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COVID-19 Puts Copenhagen Cruise Terminal on Ice

With uncertainty surrounding business in general, and specifically the future shape and form of the cruise industry, it was announced the the establishment of the new cruise terminal in Copenhagen is postponed indefinitelyA very significantly changed cruise market, due to the crisis with the coronavirus pandemic, means that Copenhagen Malmö Port (CMP) will postpone the establishment of what was planned to be a new cruise terminal at Copenhagen’s Oceankaj.With the prospects for healthy growth in the Copenhagen cruise market…

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Parched Parana River Likely to Hit Argentine Grain Exports through September

Shallow water in Argentina's Parana River will slow exports and hurt the country's soy crushing margins at least through September, officials said, as more cargo ships are needed to carry the same amount of commodities.Drought has pushed the Parana to its lowest level in decades, complicating transportation and soymeal production.An increasing number of ships are running aground and higher costs are pressuring margins at the giant soy crushing plants that make Argentina the world's top exporter of livestock feed…


Kasper Friis Nilaus, CEO, Svitzer A/S (Photo: Svitzer)

Svitzer Names Kasper Friis Nilaus CEO

Towage operator Svitzer announced its Board of Directors has appointed Kasper Friis Nilaus, VP and current Managing Director (MD) of Svitzer Europe, to succeed Henriette Thygesen as global CEO of Svitzer A/S, effective June 15.Going forward, Nilaus will continue to report to Thygesen in her capacity as CEO of Maersk Fleet and Strategic Brands. Svitzer A/S remains a fully-owned AP Moller-Maersk company.Nilaus joined Svitzer as Business Development Manager in 2007 and has since held various global and regional positions within commercial and general management…

HMM Algeciras sails through the Suez Canal on its maiden voyage (Photo: Suez Canal Authority)

World's Largest Containership Sails Through the Suez Canal

The world's largest containership, HMM Algeciras, passed through the Suez Canal on Monday as the record-setting 24,000 TEU class vessel makes its maiden voyage from Asia to Europe.Built at Daewoo Shipbuilding & Marine Engineering’s (DMSE) Okpo shipyard in Geoje, South Korea, the 399.9-meter HMM Algeciras has a capacity of 23,964 TEU and is the first of 12 vessels of the same class, design and size contracted to be built by DSME and Samsung Heavy Industries (SHI).Delivered in April…

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Maersk and Other Danish Firms Partner for Sustainable Fuels Project

A group of Danish transportation and energy companies including shipping giant A.P. Moller - Maersk have teamed up to develop an industrial-scale production facility to produce sustainable fuels for road, maritime and air transport in the Copenhagen area.Maersk is joined in the project by DFDS, Ørsted, Copenhagen Airports, SAS and DSV Panalpina, who have brought together the demand and supply side of sustainable fuels to develop a new hydrogen and e-fuel production facility as soon as 2023.

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Shipping Plan Would Reel International Emissions into EU Carbon Market

The European Union's carbon market could capture a large chunk of emissions from outside Europe if the bloc succeeds in including shipping in the scheme, according to the European Commission's first report on maritime CO2 emissions.Pollution from ships plying international waters typically escapes countries' domestic emissions-cutting targets, but the EU's executive has said the sector must contribute to its trillion-euro push to achieve a "climate neutral" economy by 2050.It wants to curb shipping's carbon footprint by adding it to the Europe-wide emissions trading system (ETS)…

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China to Europe Container Spot Rates in Rare Reversal -BIMCO

Throughout April, container shipping spot freight rates on the back-haul trade from North Europe to China were higher than those on the front-haul trade from China to North Europe. This is a rare occurrence that has developed in the wake of the massive supply chain disruptions in the world’s top manufacturing hub due to the COVID-19 outbreak, causing aftershocks across the Far East.“A reversal of front-haul and back-haul spot freight rates is a rare event. Especially on a high-volume main trade route like the Far East to Europe…

(Photo: Hapag-Lloyd)

Hapag-Lloyd Keeps 2020 Guidance

German container liner Hapag-Lloyd on Friday stuck with its full-year earnings guidance but warned that supply disruptions and weaker demand due to the coronavirus crisis may lead to a revision of its forecast in the second half of 2020.The number five in worldwide container shipping, Hapag-Lloyd reported lower core profits in the first quarter on higher fuel costs and a devaluation of bunker stocks at the end of the period, when oil prices began to fall in a demand slump.The developments masked a positive impact from higher transport volumes - which increased by 4.3% to over 3 million 20-foot

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CMA CGM Takes $1.1 Bln Loan

Shipping group CMA CGM has obtained a 1.05 billion euro ($1.1 billion) loan to be 70% guaranteed by the French government as it seeks to bolster its cash position during the coronavirus pandemic, which has hammered international trade.The loan, secured from a consortium of banks comprising BNP Paribas, HSBC and Société Générale, has an initial one-year maturity and an extension option of up to five years, Marseille-based CMA CGM said in a statement on Wednesday.France is offering guarantees to support billions of euros in loans for French companies to help them survive the economic fallout fro

(File photo: Maersk)

Maersk Profits Up 23%, Demand Slowdown Expected

Shipping group A.P. Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand.The crisis has thrown the container shipping trade off balance as supply chains have been upended and businesses and factory activity in China and later across the world was disrupted.Maersk, which also reported a 23% rise in first-quarter core profits on Wednesday, now expects global container demand to contract this year…

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Collapsed Riverbank Disrupts Argentina's Exports

Ships transporting cargo from Argentina's Rosario grain hub through the Parana River are having to reduce their cargoes after a bank collapse obstructed the navigation channel, exporters told Reuters.Dredgers are working in the Parana to the south of the Rosario complex to try to restore the necessary depth of water for export traffic, but at present have no estimate of when normal operations on the grains superhighway can resume."Ships cannot leave because they do not have the adequate safety margin…

Source: BIMCO

BIMCO: 2020 and the Collapse of Bunker Fuel Markets

The sulfur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the center stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.The outlook for global economic growth remains bleak as the world is faced with the largest recession since the Great Depression in the 1930s.Commodity prices have declined across the board and most recently…

(Photo: Port of Los Angeles)

Port of Los Angeles 2020 Cargo Volume Down 15.5%

Cargo volume at the Port of Los Angeles is down 15.5% so far this year as the novel coronavirus upends economies around the globe, Gene Seroka, executive director of the busiest U.S. seaport, said on a webcast on Wednesday.April volume was down 6.5% year-over-year as the financial and human toll of the pandemic come into focus in the United States and around the globe.Consumer demand for non-essential items has fallen off the cliff in the United States - where the pandemic is blamed for more than 71…

Photo: Seijsener

Shore Power Cabinets Awarded Eichrecht Certificate

The German National Metrology Institute (PTB) has granted Seijsener the “Baumusterprüfbescheinigung” (type examination certificate) for Seijsener's shore power cabinets. This makes the Dutch company the first manufacturer of shore power for ships in Europe to be awarded this ‘Eichrecht’ certificate. In cooperation with partner Involtum, both hardware and software have been developed in such a way that Seijsener guarantees its customers a fair, transparent and traceable transaction.So what does this mean?In the Netherlands…

Thya Kathiravel (Photo: North P&I)

North P&I Launches New Insurance Product

A new offering from North is designed for larger ocean-going vessels and will complement the H&M insurance already available from Sunderland Marine for fishing vessels and other small craft. WeThe P&I club expects the new line will be taken up by a number of Members, whilst it is also open to non-Members. The focus from an underwriting perspective will be on quality of risk and suitability of terms.In support of the product, North has added significant underwriting expertise from…

 

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​New Shandong-Europe Express Links China and Hamburg

China is the Port of Hamburg’s most important trade partner. Hamburg serves as the gateway to Europe for Chinese goods. Along with handling ocean shipping, the port city is also an important railway hub for transports to and from China. The new Shandong-Europe Express train from Jinan arrived in Hamburg’s Billwerder Terminal for the first time. It carries valuable and time-sensitive cargo from China to Europe along the New Silk Road.On April 10, the “Shandong-Europe Express” set out from Jinan, the capital of Shandong Province, on its way to Hamburg.

Formerly the head of WinGD's slow speed diesel and gas engines business, Rolf Stiefel joins BV as Regional Chief Executive.

Rolf Stiefel Joins Bureau Veritas as Regional Chief Executive

Bureau Veritas (BV) appointed Rolf Stiefel as its new Regional Chief Executive based in Hamburg, responsible for Central Europe - Germany, Austria, Switzerland and Russia. He will be based in the BV regional office in Hamburg and his appointment is effective May 1, 2020. He succeeds Dr. Hans Gaetjens who is retiring in July following a two month hand-over period.For the past 17 years Stiefel has been leading engine sales for WinGD’s slow speed diesel and gas engines including developing the market for WinGD’s X-DF gas fueled engine…

HMM Algeciras (Photo: HMM)

World's Largest Containership HMM Algeciras Launched

South Korean ocean carrier HMM held a naming ceremony for the newly constructed 24,000 TEU-class containership HMM Algeciras, the world’s largest containership, at the Daewoo Shipbuilding & Marine Engineering’s (DMSE) Okpo shipyard in Geoje, Korea.The 399.9-meter HMM Algeciras is the first of a dozen 24,000 TEU-class vessels scheduled to be delivered this year, and takes the "world's largest" title from the 23,656 TEU Gülsün-Class ships owned by Mediterranean Shipping Co (MSC).In September 2018…

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Container Shipping Capacity Down 11% in April -eeSea

A total of 302 of 2,693 containership sailings, or 11%, have been canceled in May on all the main line trades, according to the latest data from maritime intelligence company eeSea, revealing the extent of the impact of COVID-19 on global shipping.In the first six months of 2020, a total of 1,675 sailings have been canceled, or 11%; which comes out at 13% for 2M, 17% for Ocean Alliance and 17% for THE Alliance, while only 8% of non-alliance sailings have been canceled.However, the number of sailings alone only tells part of the story.

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Oil Traders Chase Storage Space in World Awash with Fuel

Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.Dozens of oil tanker vessels have been booked in recent days to store at least 30 million barrels of jet fuel, gasoline and diesel at sea, acting as floating storage, as on-land tanks are full or already booked, according to traders and shipping data.That adds to about 130 million barrels of crude already in floating storage…

David Cox (Photo: MatthewsDaniel)

MatthewsDaniel Names Cox as CEO

David Cox has been appointed CEO of MatthewsDaniel, effective April 8. He reports to Matthieu de Tugny, President of Bureau Veritas Marine & Offshore. Previously Chief Operating Officer, Cox succeeds Kevin Jarman who has been CEO of MatthewsDaniel for 30 years. Jarman having led the growth and expansion of the business through those three decades will now act as a Special Advisor.Cox started his career as a Subsea Engineer in 2001 with BBP Technical Services and began his career as a Loss Adjuster when he joined MatthewsDaniel in 2006.

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Japan Exports Slump as Coronavirus Hits Demand

Japan's exports slumped the most in nearly four years in March as U.S.-bound shipments, including cars, fell at the fastest rate since 2011, highlighting the damage the coronavirus pandemic has inflicted on global trade.Monday's bleak data underscored the challenges Prime Minister Shinzo Abe's government faces in dealing with a collapse in activity that is expected to send the global economy into its deepest slump since the Great Depression of the 1930s.After a jump in virus cases…

Image Credit: Port of Rotterdam

COVID-19 to Wipe 20% of Traffic in Europe's Largest Port

Throughput at the Port of Rotterdam is set to drop by up to 20% this year as the coronavirus pandemic disrupts production and trade worldwide, Europe's largest sea port said on Thursday.Throughput of containers, coal, oil products and other bulk goods already declined 9.3% in the first quarter from a year earlier, the port authority said, as economies around the globe shut down in an attempt to contain the coronavirus outbreak."We are facing unprecedented disruptions", the port's…

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Record Oil Output Cuts Fail to Make Waves in Coronavirus-hit Market

The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said.After several days of discussions, oil producing and consuming countries aim to remove nearly 20 million barrels per day (bpd) or 20% of global supply from the market, Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Monday.The oil market has barely shrugged, however: Brent crude gained 1.5% on Monday, while U.S.

(Photo: Port of Indiana-Burns Harbor)

Port of Indiana-Burns Harbor Kicks Off 2020 International Season

The first ocean-going vessel of 2020 arrived Monday at the Port of Indiana-Burns Harbor, thereby commencing this year's international shipping season at the Great Lakes port.Port officials welcomed the M/V Muntgracht, a 466-foot general cargo carrier, after her five-day voyage through the St. Lawrence Seaway to the deepwater port on Lake Michigan. Due to the current global pandemic precautions, the ceremonial Steel Stein, a long-running tradition at the port, was canceled this…

Photo: CMA CGM

COVID-19: CMA CGM Launches the Business Continuity Pack

As the COVID-19 pandemic affects all sectors of the world economy, the CMA CGM Group is taking action by launching the Business Continuity Pack, a range of solutions to adapt and protect the supply chains of its customers.Business Continuity Pack: a new global range of adapted solutions during the COVID-19 pandemicWith the Business Continuity Pack, the CMA CGM Group provides comprehensive and customized solutions to:Adjust the pace of shipments by prioritizing the fast transportation of urgent shipments…