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Shipping Has To Get Its Retaliation In First

Who is setting the decarbonisation agenda? Have you seen the images of the CMA-CGM Jacques Saadé? Named after the founder of CMA, later merged with CGM The French Line and now a top five global liner company. The CMA-CGM Jacques Saadé is the largest LNG powered containership in the world and is the first of a series of nine sisters to be built at CSSC Shanghai Shipyard. It looks fabulous with its blue-green paint job (have a look a the CMA-CGM website). Officially listed as having 23,112 TEU capacity, the ship has a DWT of 236,583, making it bigger than a Newcastlemax bulk carrier. It is 61 metres wide and 400 metres long. Its 18,600 cubic metre LNG tanks give it two-months’ worth of fuel. U

How Does China Do It? And What is That Doing to Dry Bulk Freight Markets?

While the rest of the world struggles with the economic disruption caused by coronavirus, China posts record output numbers. The official industrial production index, which focuses on larger entities, grew by 5.6% year on year in August, including a 1.6% increase in mining output, 6% increase in manufacturing output, and 3.3% growth in textile output. China’s August crude steel output was up 1.6% month on month and up 8.4% year on year, hitting a monolithic 94.85 Mn Tonnes. Aluminium output in August was up 2.3% month on month and 5.5% up year on year at 3.17 Mn T. Steel output grew even as blast furnace profitability fell due to higher input costs, with FOB iron prices peaking at over USD 1

What Could Peak Oil do to Oil Tanker Demand?

I’m sure you’ve seen reports this week about how bp is predicting Peak Oil. it’s a scenario that is considered in this year’s annual bp Statistical Review of World Energy. You can view it here. Bp has clearly been concerned about it for some time; the rebranding to lower case "bp" and the "beyond petroleum" tag line have lit that up for years. Recent mult-billion hydrocarbon divestment programmes and renewables investments such as last week’s offshore wind deal with Equinor, have illuminated bp’s path to ‘net zero by 2050’ as its own website proclaims and as the company announced as recently as August this year. The headline that most media have latched onto is the possibility that the worl

To decarbonise shipping, we may have to kill the spot market

Mining giant BHP Group announced last Friday that it has awarded a tender to charter five bulk iron ore carriers powered by liquefied natural gas (LNG), aiming to cut greenhouse gas emissions on voyages between Australia and China by more than 30%. The contract for five LNG-fuelled Newcastlemax bulk carriers to carry iron ore between Western Australia and China was awarded to Singapore-based Eastern Pacific Shipping, controlled by London-based Israeli businessman Idan Ofer. The contract will run for five years from 2022 when the vessels will be delivered from their shipyard in China. The contract to supply the LNG bunkers is expected to be awarded next month. BHP Chief Commercial Officer, Va

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