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BLUSTER Owner, Manager, Shipyard
The coronavirus outbreak has affected all aspects of the shipping industry, lowering, if not wiping out, demand growth prospects for the year across all segments. The outbreak has also affected fleet development, says shipping association BIMCO.Contracting activity has fallen, demolition activity, which had been high, is now being limited by restrictions around the world and deliveries of new vessels are delayed.“The coronavirus has certainty replaced the IMO 2020 sulphur regulation as the talking point of the year. The demand outlook has weakened and uncertainty has increased across the board. This combination is reflected in fleet developments this year.
It is clear that we are living in unprecedented times. Equally clear is that we will get through this pandemic, but that it is going to take some strength, stamina and especially some innovation to come through as unscathed as possible. It is the innovation part that I wish to address here with some tips that go beyond training; tips I am observing our customers innovate and implement. Tips that help us solve some of the problems created by the impacts of this pandemic. My hat is off to these customers for their can-do spirit in these difficult times, using the tools at hand to solve new problems.
McAllister Towing announced Tuesday it has taken delivery of a newly built 6,770-horsepower shipdocking tug, Eileen McAllister, slated to enter service in Port Everglades, Fla.The 34th tractor tug in McAllister’s fleet, Eileen McAllister was built by Washburn & Doughty in Maine and set sail for its new home port following delivery on Monday.The 93- by 38-foot newbuild is powered by 3516E Tier IV Caterpillar engines with twin Schottel SRP 490 Z-drive units and Markey winches, achieving more than 84 metric tons during ABS bollard pull certification. Eileen will soon join sister vessel, Tate McAllister, as the most powerful tug in the Fort Lauderdale, Fla. seaport.
Ships must be allowed to change over overworked and exhausted crews to help to keep trade flowing as coronavirus lockdowns shut many transit points across the globe, shipping industry officials said on Tuesday.About 90% of world trade is transported by sea but a deepening lockdown in many countries and suspended air travel have disrupted supply chains, especially for ship owners who rely on the free movement of crews to keep ships moving.The International Chamber of Shipping association (ICS), and the International Transport Workers’ Federation (ITF), said in a letter to the Group of 20 major economies, that there were 1.
Hedge fund managers sensed oil prices were nearing a turning point last week, and for the first time in more than two months started to add long positions in anticipation prices would bounce from an unsustainable low.Overall, hedge funds and other money managers were still net sellers of 19 million barrels of petroleum in the six most important futures and options contracts in the week ending on March 31.But they initiated 40 million barrels of new purchases as well as 59 million barrels of fresh sales, according to position records published by ICE Futures Europe and the U.S. Commodity Futures Trading Commission.