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Diana Shipping Signs Charter Deal with BG Shipping
Athens-based shipowner Diana Shipping has signed a time charter deal with Hong Kong-based BG Shipping for one of its Post-Panamax dry bulk vessels.
The company s 93,193 dwt bulker Alcmene was hired at a gross charter rate of USD 11,500 per day for a period of eleven to fourteen months.Posted On:22-Nov-2018
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US Injecting USD 41.4 Mn into Charleston Deepening Project
Up to USD 41.4 million has been designated for the Charleston Harbor Deepening Project in the latest round of federal funding.
The U.S. Army Corps of Engineers (USACE) unveiled the new funding, which would help deepening the Charleston Harbor to 52 feet, as part of the Fiscal Year 19 Work Plan on November 21.Posted On:22-Nov-2018
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The Ocean Cleanup Tweaking Wilson to Prevent Plastic from Escaping
Initial observations find that plastic sporadically exits the System 001, dubbed Wilson, which was deployed by the Dutch environmental organization The Ocean Cleanup four weeks ago in the Great Pacific Garbage Patch (GPGB).Posted On:22-Nov-2018
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Agreement on Minimum Wage for Seafarers Announced
The social partners, namely the International Transport Workers Federation (ITF) and the International Chamber of Shipping (ICS), convened in Geneva at the Joint Maritime Commission Subcommittee on Seafarers Wages to review the ILO Minimum Wage for an Able Seafarer (AB) provided for in Code B of the Maritime Labour Convention, 2006 (as amended).
The decision, following two days of negotiations, was to update the minimum wage for an able seafarer by 27 USD over the next 3 years. The wages will provide an overall increase of 4.5% on the current rate of 614 USD, with an increase of 4 USD as of 1 July 2019, followed by an increase of 7 USD as of 1 January 2020 and a final increase of 16 USD as of 1 January 2021.
Due to unforeseen circumstances, the meeting had previously been re-scheduled from June 2018 and the social partners, with the support of the ILO Office, were presented with the current consumer prices changes indices and the impact of fluctuation of the USD in the countries agreed to represent the basis for a formula for the calculation of the recommended minimum wage for an AB.
It was noted that during the period taken into account for the calculation the 614 USD, which is the current ILO minimum wage rate for an able seafarer, was below the purchasing power stated in the ILO report prepared for consideration at the meeting.
The Social partners provided reasoned arguments and economic forecasts to support their respective positions, including the volatility of the shipping industry, and the necessity to recognize the seafarers’ commitment and the need to agree fair and sustainable conditions.
"This was a difficult negotiation with two very different assessments about what the future holds for shipping and seafarers", admitted Mark Dickinson, the Seafarers Group spokesperson. "We started slowly but gained momentum as the parties exchanged opinions and provided arguments to support their positions. There was strong opposition from the shipowners side for a significant increase. However, I am pleased that at the end pragmatism and common sense prevailed and the social partners worked their way forward to recognise the fundamental role seafarers play within the industry.
"The principles of social dialogue, which is the basis of a more efficient, fair and progressive industry, were once again demonstrated by the unity of the maritime industry in securing an outcome which was acceptable by all parties." He added, "It is an example the social partners should be pleased with."
"We will continue to work together to find ways to ensure that the ILO formula used as the basis for these negotiations is fair and reflects the reality for seafarers, but the impact of this session of the JMC negotiation on the global seafaring community is undoubtedly a good and equitable result."
Max Johns, the Shipowners Group spokesperson explained that "Following active discussions on the current difficult challenges facing our industry, and the importance of preserving future employment for seafarers, I am very pleased to advise that we were able to work together to come to an acceptable result for both parties".Posted On:22-Nov-2018
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Asphalt tanker sank in Persian Gulf, Indian crew rescued by French Navy
Asphalt tanker DURBAN QUEEN developed heavy pist and later capsized in the afternoon Nov 20 in Persian Gulf, east of Qatar. French Navy Cassard-class frigate, part of Task Force 55, was sent to assist, after USS Kanawha intercepted a distress signal from the ship which was near sinking tanker.Posted On:22-Nov-2018
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ONE, Hapag-Lloyd and MSC Team Up on Asia-South America Service
Liner giants Ocean Network Express (ONE), Hapag-Lloyd and Mediterranean Shipping Co (MSC) have expanded their partnership in the Asia-South America trade lane with a new service.
The service will connect Asia with the east coast of South America, calling major ports in Korea, China, Singapore, Brazil, Uruguay, Argentina and South Africa.Posted On:22-Nov-2018
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SCF Group Names New LNG-Fueled Tanker
SCF Group s newest LNG-fueled Aframax oil tanker has been named in South Korea. The naming ceremony for the 114,000 dwt Mendeleev Prospect was held at Hyundai Samho Heavy Industries (HSHI) shipyard.
With a length of 250 meters and a width of 44 meters, the newbuilding has a capacity of 132,100 cbm. Mendeleev Prospect currently has a market value of USD 44.11 million, VesselsValue s data shows.Posted On:22-Nov-2018
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Investments are vital for maritime trade security
Investments will play a key role in the growing ports and marine industries sector, especially when it comes to insurance and security, experts at the Dubai Maritime Insurance Conference said.
Organised by Maritime Sky, the event highlights the regional and global maritime insurance sector, factors affecting maritime trade security and challenges in the future.Posted On:22-Nov-2018
Credits: www.bunkerportsnews.com |
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Half a billion tonnes of Kazakh oil loaded from CPC Marine Terminal
The 500 millionth tonne of oil delivered by Kazakh shippers to the Tengiz-Novorossiysk crude pipeline since the commencement of operations on the CPC pipeline system was loaded onto a tanker from the Marine Terminal of Caspian Pipeline Consortium on November 17, more than 17 years after the first shipment was loaded near the near the Black Sea port of Novorossiysk on October 13, 2001, the consortium said on November 19.Posted On:22-Nov-2018
Credits: www.bunkerportsnews.com |
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UAE s Fujairah oil inventory data for week ended Nov 19
Fujairah Oil Industry Zone on Wednesday published, via industry information service S&P Global Platts, the following weekly inventory data for oil products for the week ended Nov. 19.
Volumes are in thousands of barrels. Figures in brackets represent volume change from prior week calculated by Reuters.Posted On:22-Nov-2018
Credits: www.bunkerportsnews.com |
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COSCO SHIPPING Ports launches two new berths at COSCO-PSA Terminal with PSA Singapore
COSCO SHIPPING Ports Limited ("COSCO SHIPPING Ports" or "CSP", HKEX stock Code: 1199) and PSA Corporation Limited ("PSA") signed a memorandum of understanding today for the addition of two new berths at the COSCO-PSA Terminal ("COSCO PSA Terminal" or "CPT") in Singapore.
Posted On:22-Nov-2018
Credits: www.bunkerportsnews.com |
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