Latest Maritime News
21 July-August 3 2020
U.S. Energy Consumption in April 2020 Fell to its Lowest Level in More Then 30 Years

According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion British thermal units of energy in April 2020, the lowest monthly energy consumption since September 1989. Energy consumption in April 2020 was 14% lower than in April 2019, the largest year-over-year decrease in EIA’s monthly total energy consumption, a data series that dates back to 1973.

Before April 2020, the largest year-over-year change in U.S. total energy consumption occurred between December 2000 and December 2001, when consumption decreased by about 10% because of economic and weather-related factors. The third-largest decrease was between March 2019 and March 2020. Continue reading here (Source: EIA)
Container Ship Orders Hit Lowest Levels in 20 Years

Pre-COVID, the bull case for shipping rates was all about plunging newbuild orders. A drop in orders in 2019 pointed to rising freight rates in 2021, given the lag between contract signing and delivery.

Mid-COVID, the bull case for rates is even more about plunging newbuild orders than before. There will be a lot fewer vessels on the water in 2021, 2022 and beyond than previously thought.

New data provided to FreightWaves by U.K.-based VesselsValue confirms that 2020 is shaping up to be an exceptionally weak year for tanker, bulker and container-ship orders. Continue reading here (Source: FreightWaves)
Container Volumes Drop 11.1% in Mexican Ports in H1 2020

Mexican ports moved 3.13m teu from January-June this year, a drop of 11.1 % compared to 3.52m teu for the same period in 2019, said the Mexican Secretariat of Communications and Transport (SCT).

In its monthly statistical report of cargo, vessels and passengers, the agency reported that 2.15m teu were handled through the Pacific ports, down 9.8% compared to 2.38m teu in the first half of 2019.

In this first half of 2020 the Port of Manzanillo handled 1.4m teu, down 7.1% compared to 1.51m teu previously; while Lazaro Cardenas moved 523,589 teu, down 20.9% from 662,060 teu in January-June 2019. Continue reading here (Source: Seatrade Maritime News)
Oil Prices Fall on Concerns Over Rise in Output by OPEC

Oil prices have edged down due to oversupply concerns as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, is set to increase output this month.

Furthermore, global Covid-19 infections point towards a slower pick-up in the recovery of fuel demand, curtailing prices.

Brent crude futures fell by $0.26 at $43.26 a barrel, while the US West Texas Intermediate (WTI) crude futures fell $0.29 at $39.98 a barrel, Reuters reported. Continue reading here (Source: Offshore Technology)
Marine Fuels & IMO 2020: So Much for All the Hype

We are now well into the IMO 2020 shipping regulations, and it is clear that all the hype leading up to implementation was exaggerated. COVID-19 has certainly softened the impact of the shipping industry’s move to a low sulphur compliant fuel. Continue reading here (Source: ING Think)
Slow Steaming Won't Necessarily Cut Emissions - So What Will?

Recent research has shown how the cubic law of fuel consumption-speed dependency is simple, but the reality is more complicated, thus it does not necessarily hold further away from the design speed, and that slow steaming might not be the ‘fix-all’ magic bullet many people want it to be. This is potentially disappointing to a number of people who had been championing this idea, from various sectors of society – from Emmanuel Macron to Extinction Rebellion. It’s easy to see why there was so much support for the idea, even if it was potentially problematic – it solves, on paper, a vital issue, and seems, at first, remarkably simple, with no need for extensive uptake of new technology.

So, what can we do instead? Continue reading here (Source: Splash247)
Port of Seattle Cancels Plans for New Cruise Terminal Amid COVID-19

The Port of Seattle in the US has cancelled the request for industry proposals for the construction and operation of a new cruise terminal.

The cruise terminal was to be built in the preferred location of Terminal 46.

In April, the port suspended the planning for the cruise terminal for the Alaska market to better understand the impact of the COVID-19 pandemic.

Port of Seattle executive director Steve Metruck said: “Our current focus remains on public health. Continue reading here (Source: Ship Technology)
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