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From January to April 2019, the international shipping market as a whole was at a low level, and global orders for new ships continued to decline. In the month of April, the Baltic Dry Index (BDI) rebounded significantly. The decline in orders for new ships in China narrowed, and the completion of shipbuilding continued to grow. Key economic indicators such as industrial output value of key enterprises were monitored and increased year-on-year. 1. Three major shipbuilding indicators in China From January to April, the nation's shipbuilding completed 13.25 million deadweight tons, an increase of 13.3%. The order for new ships was 9.49 million DWT, a year-on-year decrease of 47.3%. At the end of April, orders for ships were 85.55 million DWT, down 8% year-on-year, down 4.2% from the end of 2018. From January to April, the country's completed export ships were 12.39 million DWT, a year-on-year increase of 13.7%. The orders for export vessels were 8.74 million D...

Last week, the 74th Session of the IMO Maritime Environmental Protection Committee (MEPC 74) was held in London. The delegates discussed the hot topics such as the implementation of the initial strategy for reducing greenhouse gas emissions and the scrubber regulations. The one-week meeting has come to an end, what progress has MEPC 74 made and what decisions have been made to address the focus of the industry? Prior to this meeting, IMO member states have proposed 15 measures on how to implement the initial strategy for reducing greenhouse gas emissions, including proposals for slow down sailing, enhanced energy efficiency requirements for ship design, and optimization of ship operational efficiency. This MEPC meeting did not reach a clear conclusion what measures should be taken to reduce greenhouse gas emissions in the short term, but decided to leave this issue to the next session for further discussion. Despite this, the Commission's representatives agreed ...

To accelerate the achievement of emission reduction targets, the International Maritime Organization (IMO) has agreed to develop more stringent energy efficiency standards for certain types of vessels. On May 17, the IMO Maritime Environmental Protection Committee held a meeting in London to discuss the development of stricter sulfur emission regulations to achieve the long-term goal of reducing greenhouse gas emissions by 50% by 2050. Carbon dioxide is the main greenhouse gas that causes global warming, and the international shipping industry accounts for about 2% of global carbon dioxide emissions. According to the Energy Efficiency Design Index (EEDI), the International Maritime Organization will set a higher carbon emission mandatory target for new buildings, specifying the maximum carbon dioxide emissions allowed for ships of different ship types and sizes with the same amount of transportation. The draft agreement shows that by 2022, the energy efficiency of ...

Chemical tanker The global chemical tanker market is poised to continue improving with demand anticipated to surpass tonnage supply growth through to 2021, according to chemical tankers and terminal operator Odfjell. Odfjell has forecast chemical tanker supply growth of 2% and chemical tanker demand of 5% on average per year through 2021. The company has noted early signs of a positive effect from new and large export-oriented expansions from the US and Middle East coming on stream. Despite what is normally a seasonally weaker first quarter, the chemical tanker market continued to improve on the back of strong exports from the US and Middle East. There was also less supply pressure from swing tonnage during the quarter. This effect will accelerate further into the second half of 2019 and into 2020, as more than 20m tonnes of low cost organic liquid chemical capacity is coming on stream between 2019 and 2020, of which the majority is expected to be seaborne traded....

China's shipbuilding capacity utilization retreated in the first quarter of 2019 due to a sluggish global market, data from China Association of the National Shipbuilding Industry (CANSI) showed. In the first three months, CCI, a monitoring index which indicates China's shipbuilding capacity utilization efficiency, came in at 590 points, down 5.8% from the same period last year. The index also fell from the 607-point reading in the fourth quarter of 2018. The CANSI attributed the drop to downcast sentiment in the global shipping market, with a notable fall in business orders. On the outlook for the Q2, the association expects a slight pick-up in new orders, but shipbuilders will continue to face pressures from sagging demand and rising costs. Earlier data showed Chinese companies built 43.2% of the new ships in the world in 2018, up from 41.9% a year ago, cementing the country's leading role in the sector. China received 43.9% of global new orders l...

Carrier gains to be made by limiting ship speed New research shows that mandatory slow-steaming rule could cut carriers’ round-trip fuel consumption, even with the additional vessels required to maintain strings on long-haul voyages. Those extra vessels may offset much of the gains, but facing a $10-15 billion annual increase in bunker costs stemming from the low-sulfur mandate that kicks in Jan. 1, 2020, even a slight reduction in fuel consumption will provide some welcome relief for container carriers. According to Drewry Maritime Research, if there was no change in the service rotation or handling times at ports, the most obvious impact of speed limits on the Asia-North Europe trade is the requirement for as many as three extra ships on some services. With lower fuel consumption at the reduced speed, the gross service round voyage fuel intake on the Asia-Europe services would be reduced by about 10 percent, the analyst wrote in its Container Insight Weekly. Fur...

China Classification Society GUIDELINES FOR THE APPLICATION OF  ADDITIONAL MARKS TO SEAGOING VESSELS will take effect on June 1 CCS has comprehensively combed the additional mark of appendix1 in Chapter 2 of the first part of RULES FOR CLASSIFICATION OF SEA-GOING STEEL SHIPS . For each classification symbols and additional mark, research its content and technical requirements, and compiled  GUIDELINES FOR THE APPLICATION OF  ADDITIONAL MARKS TO SEAGOING VESSELS  will take effect on June 1, 2019. The Classification Symbols and additional mark contained in this guide are based on currently valid specifications, guidelines, and other acceptable equivalents, and do not include additional marks for the historical version of the specification. The contents of GUIDELINES FOR THE APPLICATION OF  ADDITIONAL MARKS TO SEAGOING VESSELS  mainly include the following six aspects: 1. The Rules & Guidelines referenced in the preparation of...