Fleet Optimization and Innovation Headlines of the Week September 19, 2018

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NEW VENUE | NEW FORMAT | NEW IDEAS | NEW OPPORTUNITIES | NEW ERA

Making Money off the Back of Shipping

About 10 years ago, I was invited to a thinktank discussion in Washington DC about marine carbon cap and trade.  I went, expecting to see a room filled with maritime executives looking at the opportunities surrounding this potentially lucrative practice.  Instead, I found a room filled with hedge fund fellows who were looking for a quick buck.  Now, I have nothing against people seizing opportunity, much like the Norwegian pharmaceutical company who intends to set up two funds to capitalize on the price spread of residual fuel oil over gasoil, but I DO object to outsiders benefitting from our industry like hungry vultures.

We need to own our future, and that means investing in it.  Throughout the world, we are seen as low-hanging fruit just ready for the plucking.  How about if we LED innovation, instead of following?  How about if INDUSTRY invested in innovation, instead of being perceived as an adjacent sector from which to make money?

If “outsiders” want to enter our shipping sector, great!  But enter with both feet, invest in us, and don’t just try to skim the cream.  We need committed partners, not carpetbaggers!  Make sure you are at SHIPPINGInsight so you can engage in these tough conversations—and so you can discern between the committed and the opportunists!

Keep optimizing,

Carleen

• Breakfast Briefings by KVH-Intelsat and Hempel
• Fuels
• Markets
• Scrubbers
• Autonomous
• Cyber
• Seafarers
• SHIPPINGInsight Updates

Shipping Fears Engine Failures as Industry Switches to Low Sulphur Fuel

2018-09-11 – Add oil tankers breaking down at sea to the list of things shipping companies are worrying about as they brace for a once-in-a-generation overhaul to the kind of fuel the industry must consume. . . READ MORE

BIMCO Warns of Chartering Disputes Due to 2020 Bunker Rules

2018-09-14 – In addition to the many existing concerns about the IMO 2020 sulfur regulations – fuel availability, quality and cost – shipowners can now add one more: who is liable when something goes wrong?. . . READ MORE

Gard: Protection against contaminated bunkers

2018-09-18 – Gard P&I Club focuses on contaminated bunkers and how to protect the purchaser. Namely, the Club sheds light on the bunker supplier and the supply contract and provides a summary of the current situation. . . READ MORE

Maersk to change fuel adjustment surcharge ahead of the sulphur cap

2018-09-17 – As it seeks to improve its bottom line Maersk Line has announced a new Bunker Adjustment Factor surcharge, which it claims is aimed at recivering the costs of compliance with the global sulphur cap which enters into force on 1 January 2020.  How this new BAF will be accepted by shippers will be watched very carefully by Maersk’s peers, who may well follow suit. . . READ MORE

Wärtsilä Wins First ‘LPG as Fuel’ Order for New Gas Carriers

2018-07-17 – Wärtsilä will provide an integrated cargo handling and fuel gas system for two new liquefied petroleum gas (LPG) carriers for Belgium-based owner Exmar. The 80,000m³ very large gas carriersare being built at HHIC-Philippines (Hanjin Heavy Industries & Construction Philippines) in Subic Bay, and will be the first vessels capable of running on LPG, according to Wärtsilä, who secured the order in July 2018. . . READ MORE

ICS Releases Guide to Sulfur Rule Compliance

2018-09-17 – The IMO sulfur cap is fast approaching, and to help shipowners prepare, the International Chamber of Shipping has produced a guide to compliance using low sulfur fuels. . . READ MORE

Cooking oil used in landmark container voyage

2018-09-18 – Used cooking oil has been used in a landmark container voyage.  Organised by sustainable shipping initiative GoodShipping Program, 22,000 litres of hydrotreated vegetable oil was used on a voyage on the 800 teu Samskip Endeavour earlier this month. . . READ MORE

Norwegian diabetes pharmaceutical company aims to profit from the global sulphur cap

2018-09-14 – The global sulphur cap might be a bitter pill for many shipowners to swallow, but a new subsidiary of a Norwegian pharmaceutical company aims to profit from the impending legislation.  Energy trader Vistin Trading, founded by Vistin Pharma this March, will establish two new funds by the end of the year dedicated to profiting from the likely fluctuating changes in bunker prices in the months ahead leading up to and through the IMO-mandated global sulphur cap, which starts on January 1, 2020. . . READ MORE

Wärtsilä Initiative Touted as ‘Wake-Up Call’ for Ocean’s Role in Era of Global Change

2018-09-14 – Finnish technology group Wärtsilä has launched a new initiative that aims to convince some of the world’s most influential port cities to adopt a completely digitized marine ecosystem by 2020. . . READ MORE

Trump Gives Go Ahead to More Tariffs

2018-09-17 – U.S. President Donald Trump has directed the United States Trade Representative (USTR) to proceed with placing additional tariffs on roughly $200 billion of imports from China. The tariffs will take effect on September 24, 2018, and be set at a level of 10 percent until the end of the year. On January 1, the tariffs will rise to 25 percent. . . READ MORE

Report: Maersk to Install Scrubbers on a Part of Its Fleet

2018-09-13 – Danish shipping giant Maersk has unveiled its plans to install exhaust gas cleaning systems (scrubbers) on a part of its containership fleet. . . READ MORE

Odfjell Says It Will Not Install Scrubbers to Comply with Global Sulphur Cap

2018-09-13 – Chemical tanker firm Odfjell said it will not invest in scrubbers to clean fuel on its vessels to comply with new stricter emission rules from 2020 but instead buy fuel which meets the new standards. . . READ MORE

DFDS to install scrubbers on 12 Mediterranean freight ferries

2018-09-13 – Danish shipping group DFDS will next year invest DKK 300 million (about $47 million) to install scrubbers on 12 freight ferries deployed on routes in the Mediterranean between Turkey, Italy, Greece and France. . . READ MORE

New Report Explores Human Impact of Autonomous Ships

2018-09-13 – The Institute of Marine Engineering, Science and Technology (IMarEST) has released a report on the human impact of autonomous ships in what it describes as a major piece of research. . . READ MORE

Survey: Shipping future is autonomous but human to remain key component

2018-09-14 – IMarEST issued a survey on a number of issues surrounding the adoption of remote and autonomous technology in shipping. The report shows it is very likely that the adoption will proceed on a sector by sector basis, but it is still unclear as to the justifications for the business case for each of these sectors in terms of full adoption. . . READ MORE

DNV GL: New Guidelines for Autonomous Ships

2018-09-17 – With the first commercial autonomous and remotely operated vessels due to launch in the next several years, DNV GL has released a new class guideline to help build a safety culture around these new technologies. . . READ MORE

Maritime lacks cyber security readiness, says new paper

2018-09-13 – A paper issued last month by Future Directions International highlighted that the maritime industry remains unprepared for future cyber security threats. . . READ MORE

Maritime Welfare Training: More Important than Eve

2018-09-17 – The shipping industry is facing unprecedented change. With topics such as new environmental regulations and the opportunities and challenges of digitalisation dominating the conversation, seafarers’ welfare has tended to be overlooked. . . READ MORE

SHIPPINGInsight Complimentary Breakfast Briefings

KVH-Intelsat or Hempel

Complimentary Breakfast Briefings
Stamford Hilton
Wednesday, October 17
0730-0845

Two Wednesday Breakfast Briefings- hosted by Hempel and KVH/Inmarsat.

Are you interested in what lies ahead for biofouling, tank coatings, and more?  Then join Hempel for a breakfast briefing on the latest technologies coming out to address these sticky issues.

How about cutting-edge developments in satellite communications and their applications on board vessels?  Then you want to be at the breakfast briefing hosted by KVH/Inmarsat.