China aims to build more than half the world’s cleaner-fuel ships by 2025 | Marex

China has set itself the goal of producing more than half of the world’s ships powered by cleaner fuels by 2025, inguidelines published byte industry ministry on Thursday.

It did not give any estimates of the number of ships involved. But the guidelines said China would build morevessels powered by lower-carbon fuels such as methanol and liquefied natural gas, part of Beijing’s push to become carbonneutral by 2060.

“Implement innovation in ship engines, improve the efficiency of traditional fuel and LNG marine engines, and steadily increase the use of LNG in marine engines at scale,” the document issued by the Ministry of Industry and Information Technology said.

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More ships to avoid the Red Sea as attacks disrupt world trade. | Sailor Job

Germany’s Hapag-Lloyd and Hong Kong’s OOCL said on Thursday they would avoid the Red Sea, the latest shipping companies to do so after attacks by Yemen’s Houthi group on vessels disrupted global trade, prompting the establishment of a naval task force.

Hapag-Lloyd said it would reroute 25 ships by the end of the year the key waterway as freight rates and shipping stocks have increased because of the disruption. Avoiding the Red Sea and Suez Canal means following a far longer route around Africa.

The Iran-aligned Houthis, who control much of Yemen, have been attacking ships passing through the Bab al-Mandab Strait at the southern end of the Red Sea for weeks in what they say is a response to Israel’s war in Gaza.

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Japan container conglomerate ONE halts Red Sea navigation, reroutes to Cape of Good Hope | Offshore Jobs

Japan’s container conglomerate Ocean Network Express has decided to suspend navigation away from the Suez Canal and the Red Sea in the wake of escalating security threats, rerouting its ships via the Cape of Good Hope instead or temporarily pausing voyages, the company said in late Dec. 19.

“Effective immediately, as a temporary safety measure, ONE will reroute our vessels away from the Suez Canal and the Red Sea,” ONE said in a statement.

“Instead, we will either navigate our vessels around the Cape of Good Hope or temporarily pause their journey and reposition them in a safe location.”

The Singapore-based container shipping arm of Japan’s NYK Line, Mitsui OSK Lines, and Kawasaki Kisen Kaisha (K Line) said it will continue closely monitoring the situation and reinstate services through the Suez Canal when the situation normalizes.

ONE has a fleet of 205 ships, including 35 super-large ships like the world’s largest 20,000 twenty-foot equivalent unit container ships, in a service network covering over 120 countries.

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KPI Oceanconnect Delivers Biofuel Bunkering First For Fujairah | Marex

KPI OceanConnect, a leading global provider of marine energy solutions, today announced it has supplied 200mt of B24 VLSFO to the bulk carrier GCL Tapi for its client ArcelorMittal at Fujairah. The bunkering of the vessel took place last week on 8th December at Fujairah anchorage.

KPI OceanConnect supports biofuel deliveries in 85 ports worldwide, acting to aggregate supply for its customers and deliver top-quality fuel. This first biofuel stem for the Port of Fujairah was followed by a second operation on 13th December, delivered by KPI OceanConnect for the same client, supplying 200mt B24 VLSFO to the vessel GCL Sabarmati.

Biofuel bunkering continues to grow worldwide, with close to one million tonnes of biofuel blend being bunkered in 2023 in Singapore and Port of Rotterdam – two of the world’s largest bunkering hubs. The innovative development of biofuel bunkering in Fujairah and its facilitation by KPI OceanConnect, will increase opportunities for vessel owners and operators to act on reducing the net greenhouse gas emissions of voyages.

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US drillers add oil and gas rigs for fourth week in a row – Baker Hughes | Merchant Marine Jobs

 U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, rose by one to 626in the week to Dec. 8, its highest since September.

Despite this week’s rig increase, Baker Hughes said the total count was still down 154, or 20%,below this time last year.

The rig count has dropped from the post-pandemic high of 784 a year ago due to lower oil and gas prices. Capital spending has also gone to cover inflation-related costs for labor and equipment as many firms focus on returning money to investors and paying down debt rather than boosting production.

U.S. oil rigs fell two to 503this week, while gas rigs rose three to 119, their highest since September, Baker Hughes said.

Data provider Enverus, which publishes its own rig count data, said drillers cut 15 rigs in the week ended Dec. 6, cutting the total to 678. That put the overall count down about 3% in the last month and down 23% year-over-year.

U.S. oil futures CLc1 were down about 12%so far this year after gaining 7% in 2022. U.S. gas futures NGc1, meanwhile, have plunged about 42%so far this year after rising about 20% last year.

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Weaker vessel rates push Baltic index lower | Shipping Openings

The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships carrying dry bulk commodities, fell to its lowest level in a week on Wednesday, weighed down by lower rates across all vessel segments.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels was down 295 points, or 9.4%, at 2,848 – its lowest since Nov. 29.

The capesize index lost 785 points, or 13.2%, to 5,161. The index was up 178% for November.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, lost $6,510 to $42,800.

“Capesize rates are pulling back further as the spot market has gone somewhat quieter after a frantic period since mid-November,” Jefferies analysts wrote in a note.

“Rates in general remain strong but are on a softening trend. We view the backdrop as supportive to freight rates due to fundamentally healthier iron ore demand and seasonally stronger iron ore trade.”

Dalian iron ore futures rose, buoyed by positive economic data and persistently strong demand and as concerns over China’s supervision of the markets to ensure price stability began to fade.

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Oldendorff: Newcastlemax Biofuel Trial | Merchant Marine Jobs

Vale, working in partnership with Oldendorff Carriers, have just commenced their first biofuel voyage on a bulk vessel. The trial is taking place on an Oldendorff vessel performing a laden Vale voyage from Brazil to Asia, carrying a full cargo of iron ore.

The Hinrich Oldendorff (209,113 deadweight built 2016) loaded the biofuel in Singapore on October 16th on the ballast voyage to Brazil. The vessel then loaded Vale’s iron ore this Tuesday November 28th at Guaiba Island Terminal and will consume the blended biofuel on the laden leg from Brazil to Asia.

The B24 biofuel on board is a blend of about 24% used cooking oil of vegetable origin (286 metric tonnes) and the balance is fuel oil. The product supplied is both European Union Renewable Energy Directive (EU RED) compliant and certified by International Sustainability & Carbon Certification (ISCC). The expected well-to-wake CO2 equivalent savings is around 18% or 784 metric tonnes of CO2 equivalent and will contribute to Vale’s Scope 3 emission reduction. 

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