LNG-fueled Tugboat Sakigake Conducts Final LNG Bunkering | Merchant Marine Jobs

On July 25, the LNG-fueled tugboat Sakigake, operated in Tokyo Bay by the NYK Group’s Shin-Nippon Kaiyosha, conducted its last bunkering at Yokohama Shinko pier as a vessel fueled by liquefied natural gas (LNG). Sakigake is scheduled to undergo conversion work in fiscal 2023 and will be re-commissioned the following fiscal year as an ammonia-fueled tugboat with even lower greenhouse gas (GHG) emissions.

On the same day, a ceremony was held in Yokohama to commemorate the last LNG bunkering by the vessel. 

The NYK Group will continue to promote the further development of an energy shift to next-generation fuels such as ammonia in the Group’s aim to achieve low-carbonization and decarbonization in the maritime industry.

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Ship fuel spreads and LNG prices fall to lowest levels in years. | Jobs On Ships

Fuel is one of the biggest costs in ocean shipping, and fuel pricing has seen some big changes in recent months, featuring new dynamics that haven’t been seen in years.

Prior to the IMO 2020 regulation implemented on Jan. 1, 2020, most of the world’s commercial ships ran on 3.5% sulfur fuel known as high sulfur fuel oil (HSFO). Ships with exhaust-gas scrubbers can continue to burn HSFO under IMO 2020, while others — the majority of the commercial fleet — have switched to more expensive fuel with 0.5% sulfur known as very low sulfur fuel oil (VLSFO).

The vessels with scrubbers that burn cheaper HSFO are predominantly larger container ships, tankers and bulkers doing long-haul runs. The discount of HSFO to VLSFO — the so-called Hi-5 spread — equates to savings on the fuel bill. The bigger the spread, the more ships with scrubbers save.

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Ship arrested to force the owner to settle unpaid debts. | Shipboard Jobs

The International Transport Intermediaries Club (ITIC) – a mutual insurer that provides professional indemnity cover for transport intermediaries operating in the marine, offshore, renewable and aviation industries – has warned stakeholders to ensure measures are in place to cover additional financial obligations when settling unforeseen invoices.

In the latest edition of its Claims Review, published bi-annually, ITIC shared a case study where a ship was arrested to force the ship owner to compensate their agent for unpaid debts for a tug owner’s services during previous rescue efforts of a different ship within its fleet.

The ship owner, whose ship experienced difficulties in the Atlantic, requested a shipping agent to arrange tugs to attend to the ship. The agent arranged for tugs to participate in the ship’s rescue, but the ship subsequently sank.

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Secondhand LNG carrier prices hit a record high; prospects rosy. | Rig Jobs

Due to stricter environmental restrictions and rising demand from European nations looking to replace their reliance on Russian gas imports, the price of used liquefied natural gas (LNG) carriers is rising rapidly and is now almost on close to the price of new LNG ships.

According to global market researcher Clarkson Research Service, a five-year-old LNG carrier with a 174,000-cubic-meter capacity was traded at a record $250 million in June.

The price compared with $185 million a year ago and $170 million in June 2021.

Last month’s used LNG carrier price is more than 96% that of a newly built LNG ship, which cost $260 million.

Prices of smaller LNG vessels with capacities between 138,000 cubic meters and 140,000 cubic meters have also doubled from two years ago, data showed.

“Ship owners, which run a fleet of LNG carriers over a relatively short period for investment purposes, are busy handling incoming requests for sales these days,” said an industry official.

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Ship queues mount as dockworker strike in Canada drags on. | Jobs On Ships

Canada’s two largest Pacific ports — Vancouver and Prince Rupert — remained at a standstill Friday as a strike by the port workers’ union hit the one-week mark. Ships are beginning to pile up at anchorages and rail operations serving the U.S. have effectively halted.

The British Columbia Maritime Employers Association (BCMEA) claimed Thursday that the strike is already having “disastrous economic impacts,” with $4.6 billion in cargo affected since the strike began on July 1. The BCMEA maintained it has offered “significant wage increases.”

International Longshore & Warehouse Union (ILWU) Canada, representing dockworkers, countered that the BCMEA “has launched a smear campaign targeting their own workers.”

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Russia sees no grounds to renew grain deal – foreign ministry. | Marine Jobs

Russia sees no basis for renewing the Black Sea grain deal, the Russian foreign ministry said on Tuesday, less than two weeks before the expiration of the agreement which has allowed Ukraine to ship grain out of its Black Sea ports despite the war.

The ministry said in a statement Russia was doing everything so that all ships covered by the deal could leave the Black Sea before it expires on July 17.

Russia has long threatened to pull out of the agreement, complaining that promises to remove barriers to its own exports of grain and fertilizer have not been fulfilled.

It agreed in mid-May to renew the deal for two months, but since then has repeatedly said it sees no basis to extend it again this month.

In its statement, the foreign ministry said the Black Sea initiative had delivered Ukrainian grain to “well-fed” countries but failed to help those that needed it most in Africa, Asia, and Latin America.

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