The shipping industry briefing
The latest news, views and numbers you need to know this month
News in Numbers
$1.5m
Set to begin this November, the third phase of an IMO project to enhance a ship recycling project in Bangladesh has received approximately $1.5m from Norway.
$220m
In October, US Transportation Secretary Elaine L. Chao announced that more than $220m in discretionary grant funding would be awarded to ports in 16 US states and territories.
90%
The global shipping industry is responsible for 90% of world trade by volume, according to the International Chamber of Shipping (ICS).
47%
According to ABS’s Future Future Fuels LinkedIn Survey, 47% of respondents said that liquefied natural gas (LNG) would be the solution for meeting the IMO’s 2050 emissions target.
50,000
More than 50,000 merchant ships trade cargo internationally worldwide, according to ICS.
Projects
One of the busiest container ports in West Africa, the Port of Abidjan in Ivory Coast, is constructing a second container terminal known as Côte d’Ivoire Terminal.
Source: Ship Technology
Russia-based shipyard Blagoverf has secured an order for to construct the buoy tenders of project 3052 from Marine Technics (MT Group).
Source: Port News
Multinational oil and gas company BP has confirmed plans to start shipping natural gas from Azerbaijan to Europe by the end of the year.
Source: Reuters
The Norwegian Government has provided an additional €8m to the HySHIP project, which aims to construct a new hydrogen-powered vessel, scheduled for operation in 2024.
Source: H2View
Singapore-based ship operator BQ LPG announced it had started trials for BW Gemini, reportedly the world’s first very large gas carrier to be fuelled by liquefied petroleum gas.
Source: ShipInsight
Quotes
British Ports Association chief executive Richard Ballantyne, following UK Chancellor Rishi Sunak’s announcement that the Freeports selection process will see the first sites in England set up by the end of 2021:
“This is a welcome development and, by being more inclusive in terms of the number of freeports there might be, the government can now explore how to better deliver on its levelling up agenda without picking regions over each other. Coastal communities are often in areas of high deprivation and have also experienced challenges resulting from the coronavirus pandemic and lockdown so this potentially transformative policy will be welcomed across a range of suitable locations.”
ICS chairman Esben Poulsson, following the launch of the ICS 2020 Annual Review:
“For the global shipping industry, 2020 is a year that will be long remembered. As remarked in this year’s Annual Review, the Covid-19 pandemic has led to significant disruptions to the industry’s way of working. ICS continues to be at the forefront of addressing the ongoing crew change crisis, making every effort to persuade governments to facilitate the repatriation of 400,000 seafarers stranded at sea.”
