Baltic Sea shipping tax could pay for undersea cable protection, says Estonian minister

Shipping firms may need to pay a fee to use the Baltic Sea, one of the world’s busiest shipping routes, in order to cover the high costs of protecting undersea cables, Estonia’s defence minister said on Wednesday following a spate of breaches.

NATO said last week it would deploy frigates, patrol aircraft and drones in the Baltic Sea after a series of incidents where ships have damaged power and communications cables with their anchors in acts of suspected sabotage.

In addition to the patrols, Defence Minister Hanno Pevkur said countries are weighing other measures to protect cables, including installing sensors to detect anchors dragged across the sea floor or constructing casings or walls around the cables.

But this will come at a cost, and whether countries or cable operators end up paying for it, consumers may be left ultimately footing the bill through higher taxes or utility costs.

Another option, Pevkur said, is levying a tax on vessels that sail through the Baltic Sea, that is bordered by eight NATO countries and Russia.

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Seacon Shipping Group has three major milestones in three days

At the beginning of the new year, Seacon Shipping Group has achieved a remarkable milestone within three days.

Successful Launch of an 18,500 DWT Oil/Chemical Tanker

On January 19, an 18,500-deadweight ton (DWT) oil/chemical tanker (DN517-1), built by Fujian Shipbuilding’s Southeast Shipyard, was successfully launched. This marks the first newly built chemical tanker for Seacon Shipping Group’s self-operated fleet.

The vessel is 149.8 meters long, with a beam of 22.8 meters, a depth of 12.7 meters, and a design draft of 8.5 meters. It is primarily designed to transport products such as petroleum, vegetable oil, and bulk chemicals (categories II and III) that comply with IBC regulations and have a flash point ≤60°C. The vessel features a shallow draft and large cargo capacity, meeting the requirements for unrestricted navigation areas. With a methanol dual-fuel-ready design, it complies with IMO Tier III emission standards and can be upgraded in the future to operate using clean methanol fuel.

Launch and Naming of a 42,000 DWT Bulk Carrier

On January 20, a launch and naming ceremony was held for a 42,000 DWT bulk carrier built by Tsuneishi Shipyard in Japan. Ms. Dai Yan served as the ship’s godmother and named it “Seacon Liverpool.” The event was attended by multiple representatives, including Yukio Okumura, President and Representative Director of Tsuneishi Shipbuilding Co., Ltd., Zhuang Wei, General Manager of the Asia-Pacific region of BIMCO, and other representatives.

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Baltic index logs third weekly loss on weaker rates across vessel segments

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday and posted its third straight weekly loss, weighed down by weaker rates across vessel types.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 46 points to 778 points, its lowest level since February 2023. The index was down over 21% for the week.

The capesize index (.BACI) slipped 98 points to 983 points, dropping to its lowest level since March 2023. The index extended losses to a second straight week and was down over 29% for the week.

Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, lost $811 to $8,156.

Dalian iron ore futures rose on Friday to log a small weekly gain, aided by resilient demand in top consumer China, even as investors fretted over mounting trade tensions between the United States and China.

The panamax index (.BPNI) fell 30 points to 774 points, hitting its lowest since May 2020. The index fell for the third straight week and was down 13.7% during the week.

Average daily earnings for panamax vessels (.BPWT), which usually carry about 60,000-70,000 tons of coal or grain, decreased by $270 to $6,969.

Among smaller vessels, the supramax index (.BSIS) was down 15 points at 639 points, its lowest since February 2023. The index was down for the fifteenth straight week and fell 14.5% during the week.
Source: Reuters

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IMO launches Regional Presence Office for the MENA region in Alexandria, Egypt

New office will coordinate technical assistance for countries in the region in the areas of maritime safety, security and environmental sustainability.

The International Maritime Organization has launched its Regional Presence Office (RPO) for the Middle East and North Africa (MENA) region during a ceremony held in the historic maritime city of Alexandria, Egypt.

This milestone underscores the IMO’s commitment to enhancing maritime cooperation and capacity-building across one of the world’s most strategically significant regions.

The region holds a pivotal role in global maritime trade, along with a strong commitment to supporting the maritime sector. The event was attended by IMO Secretary-General, Arsenio Dominguez, and high-level dignitaries, including His Excellency Lieutenant General Kamel Al-Wazir, Deputy Prime Minister for Industrial Development representing the Government of Egypt.

Secretary-General Dominguez said: “This Regional Presence Office is a testament to our commitment to bring IMO closer to the regions. This Office will serve as a bridge, addressing regional maritime challenges by fostering collaboration, and ensuring that the voices and needs of MENA countries are effectively represented on the global stage.

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Savannah gets India cargo to market up to eight days faster | Maritime Crew

The Port of Savannah is up to eight days faster for India cargo moving to inland markets such as Atlanta, Chicago and Dallas, compared to West Coast ports.

Six weekly vessel services provide direct connections between Savannah and India, while a total of ten services connect Savannah to the Indian Subcontinent. Twelve ocean carriers serve Savannah-Indian Subcontinent routes, with ocean transit times as short as 29 days. Direct port connections include Hazira, Mumbai/Nhava Sheva, Mundra and Pipavav. Additional calls within the region include Colombo, Sri Lanka and Port Qasim, Pakistan.

The Port of Savannah’s industry-leading speed to rail has enabled GPA’s 1-2-3 Strategy, providing third-day availability of cargo at many inland markets: First day offload from vessel, second day on rail, third day at destination.

Rail dwell in Savannah averages just over one day. That compares to a wait time of more than a week between vessel offload and departing train at some other U.S. gateways.

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Port Hedland Iron Ore Exports Down 4% in December 2024 | Maritime Crew

 Pilbara Ports delivered a total monthly throughput of 66.2 million tonnes (Mt) for December 2024.

The Port of Port Hedland achieved a monthly throughput of 48.3Mt, of which 47.6Mt was iron ore exports. This was a four per cent decrease to total throughput compared to December 2023.

Imports through the Port of Port Hedland totalled 197,000 tonnes, a decrease of 10 per cent compared to December 2023.

The Port of Dampier delivered a total throughput of 16Mt, a six per cent increase from December 2023.

Imports through the Port of Dampier totalled 84,000 tonnes, a decrease of 21 per cent from December 2023.

Several factors influence the fluctuation of throughput, including changes in market conditions, port maintenance operations and proponent needs.

Total throughput across all ports since 1 July 2024 is 387.5Mt.

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LME scrap, rebar volumes rise on week as market activity resumes | Maritime Crew

Volumes traded for both scrap and rebar futures on the London Metal Exchange saw an uptick week over week as market participants resumed activity post the new year holidays, leading to an increase in physical trading in the spot market.

LME CFR Turkey scrap futures trading volumes have risen in recent years, with approximately 12.27 million mt traded in 2024, sharply higher from 8.08 million mt in 2023.

Volumes traded, which settle on Platts assessment basis, also increased week over week.

LME scrap futures trading volumes increased to 129,770 mt in the week to Jan. 9, up from 70,110 mt in the week to Jan. 2.

Platts assessed spot prices for physical imports of premium heavy melting scrap 1/2 (80:20) at $343/mt CFR Jan. 9, lower by $3/mt week over week, amid increasing buy-side pressure and a lack of urgency from Turkish mills to secure scrap cargoes.

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Middle East Crude-Benchmarks gain; OPEC oil output falls in December

Middle East crude benchmarks Oman, Dubai and Murban rose on Wednesday amid firm demand from Asia, and as OPEC oil output fell in December after two months of increases.

The Organization of the Petroleum Exporting Countries pumped 26.46 million barrels per day in December, down 50,000 bpd from November, a Reuters survey showed on Tuesday, with the United Arab Emirates providing the biggest drop.

The drop in the UAE’s output was due to field maintenance, while Iran’s production also declined, offseting a hike from Nigeria and other gains elsewhere in the group.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 4 cents to $1.60 a barrel.

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HD Hyundai exports HiMSEN engines to 60 countries, dominating global market

As the incoming U.S. President Donald Trump’s announcement of a tariff bomb looms mid-month, the situation surrounding the impeachment of the President and Acting President makes it difficult for South Korea’s economy to see even one step ahead. Amid the chaotic conditions both inside and outside the country, South Korean corporations armed with the world’s best technology are challenging the global summit. Here, we take a look at the companies that shine a light on South Korea in the world.

On the 26th of last month, at the HD Hyundai Heavy Industries Ulsan Shipyard in Dong-gu, Ulsan, all 10 docks were filled with ships under construction. This yard can produce a maximum of 50 ships annually. In the largest dock, which is the size of nine soccer fields, four liquefied natural gas (LNG) and liquefied petroleum gas (LPG) carriers, measuring up to 300 meters in length, were being constructed simultaneously.

The engines that propel these ships and generate power are referred to as the heart of the ships. Upon entering the powerful engine plant 2 within the shipyard, dozens of HiMSEN Engines, weighing up to 90 tons and measuring 3.5 to 4 meters high, were lined up. The HiMSEN Engine is a medium-speed engine developed independently by HD Hyundai Heavy Industries after more than a decade of research and was first introduced in South Korea in 2000. While large engines drive the ships propellers, medium engines are responsible for electricity generation within the ships, equipped with generators at the end of the engine.

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Navantia strikes Harland and Wolff deal at knocked-down price

The Spanish company struck a hard bargain but, with no other parties in the ring, it could call the shots. Announced Thursday morning UK time, Navantia will acquire the iconic Belfast yard, Appledore in England, and Arnish and Methil in Scotland, for £70 million, far short of the asking price.

About 1,000 jobs were thought to be at risk at the four yards. But thousands more would have been endangered at third party engineering firms and other suppliers.

With its back against the wall, the UK Government not only agreed a lower price but sweetened the deal further by improving the terms of a £1.6 billion contract for three fleet solid support (FSS) ships on order at H&W. The vessels, which will support the Royal Navy’s UK carrier strike group, are to be built in Belfast, Appledore and Puerto Real in Spain, and Navantia is lead partner on the FSS contract.

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