A Porthole of an Exit Window for Shipping Investments?
April 22, 2014 by Leave a Comment
Momentum and, to a certain extent, freight rates and shipping asset prices have improved meaningfully since last year; while this time last year most vessels – including large vessels such as capesize bulkers and supertankers – were earning barely cash break-even freight, there have been a few windows of opportunity here and there since then.
Legal Aspects of Arctic shipping
April 4, 2014 by Leave a Comment
Arctic navigation routes include the ‘Northwest Passage’ between the Atlantic and Pacific oceans along the northern coast of North America and the ‘Northern Sea Route’ (NSR) which includes all passages along the North coast of the Russian Federation. As a result of the continued melting of Arctic sea ice a new ‘Central Arctic Ocean Route’ may soon become an option alone or in combination with elements of the Northwest Passage or the NSR.
Climate Change and Impacts to Shipping
April 3, 2014 by Leave a Comment
The Intergovernmental Panel on Climate Change (IPCC) issued a report yesterday that says the effects of climate change are already occurring on all continents and across the oceans. The world, in many cases, is ill-prepared for risks from a changing climate. The report also concludes that there are opportunities to respond to such risks, though the risks will be difficult to manage with high levels of warming.
Europe Remains Global Fleet’s Flagship
April 3, 2014 by Leave a Comment
“Although shipping has seldom been in the limelight, it never ceased to play a substantial role in Europe’s economy” commented Patrick Verhoeven, ECSA Secretary General on today’s release of the Oxford Economics study on the economic value of the EU shipping industry. He added: “The EU shipping industry continues to stay its ground in these hard times against fierce competition from third country shipping centres, particularly those in Asia and the Middle East. It remains today a world leader and an important source of revenue and jobs in Europe.”
Gastech 2014 and Opportunities in LNG Shipping
March 28, 2014 by Leave a Comment
According to Andrew Clifton, General Manager for the Society for International Gas Tanker and Terminal Operators, there are unprecedented opportunities in LNG shipping today. Last Tuesday in Gastech 2014 Andrew Clifton stated that there are more ships and terminals than ever before. Within 3 to 4 years, there will be a fleet of over 500 LNG vessels in service. It is worth mentioning that in 1997, there were only 100 vessels in service.
Evolution of Shipping
March 25, 2014 by Leave a Comment
My sea career lasted for an exciting decade which saw huge growth in ship size. I went through the evolution of shipping from sailing on a 3,500 TEU jumbo container vessel that was built in the year when I was born to an 8,000 TEU container vessel. In 2003, that 8,000 TEU vessel owned by my former employer was entered into the World Guinness Book of Records as the largest container vessel ever built. But although I stopped sailing on the largest ship at the time, the size of ships did not stop growing.
The Future of Arctic Shipping: A New Silk Road for China?
March 20, 2014 by Leave a Comment
Every time Arctic sea ice extent reaches a new record low a host of new reports and studies predict a rapid increase in shipping activities in the Arctic. Expectations are high that Arctic shipping routes, particularly the Northern Sea Route, will rival traditional shipping routes and complement the Suez Canal route as a key waterway for trade to and from Asia by the middle of this century. One of the drivers of Arctic shipping, as the logic goes, is China’s rapidly growing international trade. As China aims to diversify its trade routes and reduce its dependence on trade passing through the Strait of Malacca, the Arctic offers an alternative and shorter route to conduct part of its trade. How realistic are such scenarios?
DNV GL develops Arctic Risk Map
March 20, 2014 by Leave a Comment
Declining sea ice is creating new possibilities for industrial activities in the Arctic, yet the region is highly variable in its resources and conditions, creating a complex risk picture.
The Next Five Years in Shipping
March 14, 2014 by Leave a Comment
According to a report from Norton Rose Fulbright, shipping is the most negative response to high-capacity or high-speed assets, with almost 30 per cent of the participants of the Survey conducted by Norton Rose Fulbright, seeing these as creating overcapacity – much higher than aviation and rail (11 and six per cent). While some feel they will open up new opportunities, 22 per cent express doubt over their sustainability.
Officer of the Watch 