In the Port of Amsterdam, a new factory is being built that could revolutionize the way we dispose of plastic waste. Utilizing groundbreaking technology, the facility will use previously unrecyclable plastic to create fuel for diesel powered cargo ships. Read More
Rolls-Royce announced today that it has signed an agreement to sell its Commercial Marine business, to KONGSBERG, for an enterprise value of £500m and net proceeds of around £350m to £400m. Read More
With oil producers’ cartel OPEC playing havoc with prices, India discussed with China the possibility of forming an ‘oil buyers club’ that can negotiate better terms with sellers as well as getting more US crude oil to Asia to cut dominance of the oil block. Read More
In the biggest policy reform yet in the shipping sector, the Centre has allowed foreign-flagged container ships to carry export-import laden containers for transhipment and empty containers for re-positioning on local routes without a licence or conditions.
A Shipping Ministry order, issued on Monday, follows intense lobbying by global container lines to ease the cabotage rule and allow them to operate along the country’s coast. Read More
With less than two years before the sulphur cap comes into force, LNG is looking more plausible as the marine fuel of the 21st Century.
Many shipowners are still weighing up the dilemma of how to comply with the stringent new rules on sulphur emissions, due to come into force in January 2020. The options have been widely publicised: scrap older tonnage, fit sulphur scrubbers, switch to low-sulphur marine gasoil (LSMGO) or install power plants capable of burning LNG. Read More
Hong Kong-based shipping company Orient Overseas Container Line (OOCL) has teamed up with Microsoft’s research arm in Asia to advance the application of Artificial Intelligence research in the shipping industry.
The collaboration will look for ways to use AI to improve shipping network operations and achieve efficiencies within OOCL’s business. The project is expected to nurture over 200 AI developers over the next 12 months. Read More
The Baltic Exchange will be introducing a modernised code of conduct for shipowners, charterers and shipbrokers using the physical shipping and freight derivatives markets.
Following a detailed review of the current arrangements led by law firm Norton Rose Fulbright with oversight by the Baltic Exchange Council and the Baltic Membership Council, the New Baltic Code has been drafted to bring together a set of principles and business practices which will be applicable to not only Baltic Exchange members, but also the wider market. There is a greater focus on fairness & competition, anti-bribery & corruption and benchmarking related issues than before. Read More
- Maersk, APL, Hyundai race to build paperless cargo system
- Adoption of blockchain could generate $1 trillion in trade
Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents.
That last throwback to 19th century trade is about to fall. A.P. Moeller-Maersk A/S and other container shipping lines have teamed up with technology companies to upgrade the world’s most complex logistics network. Read More