Shipping Industry – Avalonon Sea http://avalononsea.co.za/ Thu, 23 Jun 2022 18:16:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://avalononsea.co.za/wp-content/uploads/2021/06/icon-3.png Shipping Industry – Avalonon Sea http://avalononsea.co.za/ 32 32 Beans blown by the wind offer emission-free coffee https://avalononsea.co.za/beans-blown-by-the-wind-offer-emission-free-coffee/ Thu, 23 Jun 2022 18:16:23 +0000 https://avalononsea.co.za/beans-blown-by-the-wind-offer-emission-free-coffee/

More and more companies are turning to wind-powered sailboats to enable low-carbon transportation and green coffee.

Last December, the two-masted schooner Avontuur loaded 22 tons of organic Colombian coffee from the port of Santa Marta. With a crew of 16, it crossed the Atlantic over the course of two months to reach the port of Bordeaux.

According to the Belgian specialty roaster, the ship trip saved more than three tons of CO2. Javrywho bought the job last month.

Now, Javry is one of a growing number of roasters offering carbon-free coffee to their customers.

“When we decided to embark on the adventure of importing coffee by ship, we didn’t even consider the price. Ecology is part of our company’s DNA,” said Pierre-Yves Orban, co-founder and CTO of Javry TRT world. “When we had the opportunity to have decarbonized transport, we didn’t hesitate.”

Javry currently imports around 50 tons of coffee annually and expects that number to reach over 100 tons by 2025. Orban says the goal is to import at least 50 tons of coffee by sailboat by 2025.

The goal, argues Orban, is to show that alternative modes of transport exist and can work. “We want to raise awareness among end consumers, but also among other brands and manufacturers who could follow suit.”

Around 22 tons of green coffee sailed from Colombia across the Atlantic to France in two months, saving more than 3 tons of CO2. (javri)

French sailing freight transport company, Transoceanic wind transport (TOWT), was responsible for chartering Javry’s green coffee along with four other roasters who agreed to buy the 22 tons of fair trade Colombian beans.

Founded in 2011, TWOT’s mission is to decarbonize the shipping industry by restoring the movement of goods by ship. It aims to develop cargo sailboats to become as competitive as traditional fuel-powered cargo ships.

“We want to show that ecological sailing transport can be credible and economically feasible,” said Yael Soubeyran, Development & Public Relations Officer of TWOT TRT world.

So far, TWOT has transported 17 different old rigs, including Avontuur, a 100-year-old Dutch merchant ship equipped with solar panels and wind turbines and with a capacity of 114 tons.

The company expects its future sailing cargo ships to reduce CO2 emissions on standard transatlantic routes by over 90 percent compared to the same voyage for the same volume of cargo in the conventional, thermally-powered sector.

French company TransOceanic Wind Transport (TOWT) is about to launch its first fleet of industrial-scale decarbonized ships in a bid to disrupt the conventional <a class=shipping industry.” class=”content-image lazy preview” bad-src=”https://cdni0.trtworld.com/w32/q50/134535_TOWT_1656007331596.png” src=”https://cdni0.trtworld.com/w960/q75/134535_TOWT_1656007331596.png”/>

French company TransOceanic Wind Transport (TOWT) is about to launch its first fleet of industrial-scale decarbonized ships in a bid to disrupt the conventional shipping industry. (TOWT)

To date, TOWT has generated over EUR 1 million (US$ 1.05 million) in sales. By 2025, it guarantees that 9,600 tons of CO2 will be saved annually to and from the port of Le Havre and that 72,000 tons of goods will be converted to low-carbon transport every year.

According to Soubeyran, TOWT will benefit from proposed €150 million ($158 million) deals linked to a number of major French brands. One of them, Belcois a sustainable coffee importer that supplies around 1,000 specialty roasters across Europe like Javry.

By sailboat, a 5,225 nautical mile journey from Brazil to the port of Le Havre carrying Belco’s coffee beans would take 21 days and have a near-zero carbon footprint. A conventional shipping container, on the other hand, would have emitted almost two tons of carbon.

Belco has received so much positive feedback that they now plan to import about 4,000 tons — about half of their total coffee beans — by ship by 2025.

But for that they need a bigger boat – and that’s exactly what TWOT wants to deliver. By the summer of 2023, TOWT plans to launch its first fleet of cargo ships, which can hold up to 1,100 tons. Four more will follow by 2026.

(belco)

For the first time in the industry, TWOT also uses a label called ANEMOS: a certificate that guarantees customers a decarbonized transport of their products. A QR code will be provided containing a decarbonization report, crew testimonials and voyage stops. To date, the company has sold over 1 million products marked with ANEMOS.

Across the Atlantic, Costa Rica-based logistics agency SAILCARGO plans to build its own flagship sustainable ship by 2023. The Ceiba is the name of the largest clean deep-sea cargo ship in the world that was built from renewable wood and can carry 250 tons.

One of SAILCARGO’s partners is the Canadian roaster Cafe Wilhelmwhich has invested in the Ceiba to ship coffee beans from South America to its roastery in Sherbrooke, Quebec.

“We want to leave a legacy, to do something bigger than us,” said Jean-Philippe Marcoux, Café William’s marketing director TRT world. “We decided that shipping coffee in a more environmentally friendly way was a worthwhile goal.”

As the largest Canadian-owned roastery focused on producing organic and fair trade coffees for the retail market, Café William is at the forefront of rethinking the future of coffee production.

Marcoux mentioned that zero-emission maritime transport is only one piece of the green coffee puzzle. The company has invested over 10 million dollars in a new eco-friendly roastery and also wants to buy electric trucks to “provide green coffee at every stage of the supply chain,” he said.

Conscious consumption

While the volume of vessels on offer remains limited, growing interest in carbon-neutral alternatives to traditional fossil fuel tankers and aircraft is likely to prompt companies in the industry to reconsider new supply chain practices and shipping companies.

Beyond reducing the carbon footprint, many in the industry are striving to shorten the supply chain to allow for more transparency for customers and fairer prices.

While prices are currently a challenge for Soubeyran, they will change as the industry develops. “Yes, the prices for sails are slightly higher,” he said. “Sea transport is so cheap, and we’re still in an economy where people are used to finding the cheapest options.”

“But I think that’s changing as more consumers are looking for ethical options and we’re promoting less polluting transport that can also be used in relation to marketing.”

Not to mention the added benefit of not being dependent on volatile oil prices, Soubeyran added. Large sailboats have engines that they can use when needed, otherwise they are powered solely by the wind.

For Javry, sailing costs almost 20 times more than traditional transport. To keep the coffee affordable, Orban said Javry is reducing its margin and absorbing some of the extra costs. “In the end, the package only costs the consumer a few euros more than usual,” he says.

“Consumers are becoming more conscious of what they are buying and how they are buying,” Marcoux said, adding that consumers have become more willing to pay more for greener coffee and roasters are taking up the challenge to provide it.

“Here, too, we think long-term and B2B [business-to-business] perspective, and we anticipate that there will soon be other coffee suppliers moving in the same direction.”

Source: TRT World

]]>
Beyond Energy, 5 ETFs to launch this year – June 21, 2022 https://avalononsea.co.za/beyond-energy-5-etfs-to-launch-this-year-june-21-2022/ Tue, 21 Jun 2022 14:22:59 +0000 https://avalononsea.co.za/beyond-energy-5-etfs-to-launch-this-year-june-21-2022/

2022 has been the worst for the stock market in decades as the S&P 500 index has been in bear territory for the past week. Decades of inflation, Russia’s invasion of Ukraine and tightening monetary policy have resulted in turbulent trade.

While the energy sector shines, other sectors are caught up in the sharp sell-off in markets, with technology bearing the brunt. However, a few like ETFs iShares North American Natural Resources ETF (IPI free report) SPDR S&P North American Natural Resources ETF (NANR free report) VanEck Morningstar Global Wide Moat ETF (MOTG free report) SonicShares Global Shipping ETF (BOAT Free report) and SPDR S&P Metals & Mining ETF (XME Free Report) have defied the turmoil and are on the rise this year.

Inflation is rising at its fastest pace in more than 40 years, spurred by supply constraints, resilient consumer demand and disruptions in global food and energy markets, exacerbated by Russia’s war in Ukraine. Natural resources such as oil and gas, precious metals and timber tend to do well in times of high inflation and rising interest rates. Investors have plowed heavily into natural resource ETFs this year as they look for inflation hedges (read: ETFs gain as inflation hits a new 40-year high).

Additionally, metals and mining companies are also getting a boost from the rise in commodity prices. In addition, ongoing supply chain issues around the world continued to fuel demand for ships, driving rates higher and thus benefiting shipping companies.

Let’s go into the details of the above ETFs:

iShares North American Natural Resources ETF (IPI Free report) – up 17.6%

The iShares North American Natural Resources ETF provides exposure to oil & gas, mining and forestry companies by tracking the S&P North American Natural Resources Sector Index. It holds 122 stocks in its basket, with none owning more than 10.1% of assets. The iShares North American Natural Resources ETF holds key positions in integrated oil and gas, oil and gas exploration and production, and oil and gas storage and transportation, each accounting for double-digit exposure.

The iShares North American Natural Resources ETF has $1 billion in assets under management and trades an average daily volume of 857,000 shares. The fund charges 43 bps in annual fees.

SPDR S&P North American Natural Resources ETF (NANR Free report) – up 16.4%

The SPDR S&P North American Natural Resources ETF offers exposure to publicly traded large and mid-cap US and Canadian companies in the energy, materials and consumer staples sectors, with exposures to 49%, 44% and 7%, respectively. It follows the S&P BMI North American Natural Resources Index and has 29 stocks in its basket (read: Why Investors Are Pouring Money into Natural Resources ETFs).

The SPDR S&P North American Natural Resources ETF has raised $692.6 million and charges 35 basis points in annual fees. It trades in a moderate volume averaging 91,000 shares per day.

VanEck Morningstar Global Wide Moat ETF (MOTG Free report) – up 11.4%

VanEck Morningstar Global Wide Moat ETF focuses on global companies that Morningstar believes have sustainable competitive advantages, or “moats,” by tracking the Morningstar Global Wide Moat Focus Index. It holds 75 stocks in its basket, each accounting for less than 2.4%. The VanEck Morningstar Global Wide Moat ETF holds key positions in consumer staples, industrials, information technology, financials, and healthcare.

VanEck Morningstar Global Wide Moat ETF has accumulated $15.5 million in its asset base while trading an average daily volume of 2,000 shares. It charges 52 bps in annual fees.

SonicShares Global Shipping ETF (BOAT Free report) – up 4.7%

The SonicShares Global Shipping ETF offers pure exposure to the global shipping industry by tracking the Solactive Global Shipping Index. The Index consists of global shipping companies engaged in the ocean transportation of goods and commodities, including consumer and industrial products, vehicles, dry bulk, crude oil and LNG.

The SonicShares Global Shipping ETF holds 50 stocks in its basket and has amassed $26.3 million in assets. The fund charges 69 basis points in annual fees and trades an average daily volume of 38,000 shares.

SPDR S&P Metals & Mining ETF (XME Free report) – up 4%

The SPDR S&P Metals & Mining ETF offers broad exposure to the US metals and mining industry by tracking the S&P Metals and Mining Select Industry. It holds 33 stocks in its basket, with steel companies making up 41.5% of the portfolio, while coal and consumable fuels, aluminum and gold round out the next two spots, each with double-digit exposure (read: 5 sector ETFs to play robust in May job data).

The SPDR S&P Metals & Mining ETF has an expense ratio of 0.35% and $2.4 billion in assets under management. It trades in an average daily volume of around 7.4 million shares.

]]>
Hyundai’s autonomous ship is the first to undertake a transoceanic journey https://avalononsea.co.za/hyundais-autonomous-ship-is-the-first-to-undertake-a-transoceanic-journey/ Sun, 19 Jun 2022 22:00:00 +0000 https://avalononsea.co.za/hyundais-autonomous-ship-is-the-first-to-undertake-a-transoceanic-journey/

This article is part of Future Explored, a weekly guide to world-changing technologies. You can get stories like this delivered straight to your inbox every Thursday morning by subscribe here.

A main argument for autonomous vehicles is that they make roads safer by removing human error – by far the dominant cause of traffic accidents – from the equation.

By making ships autonomous, the shipping industry believes it could also make the seas safer and shipping cleaner and more efficient. well, one transoceanic journey powered by AI has brought it one step closer to realizing this vision of the future.

Navigating rough waters

Maritime transport is of enormous importance to the global economy — more than 80% of international trade (by volume) is by sea, mainly because it is more economical as goods to be transported over long distances by land or air.

There is more than 62,000 Ships in the world’s merchant fleets, and getting all of those ships where they need to be, when they need to be there is a complex endeavor – navigators need to consider weather conditions, the locations of other ships, port activity, and more to decide which routes and at what speed should be taken.

All cargo ships and tankers have been underway since June 14, 2022. Photo credit: Marine Traffic

If something disrupts this system, the impact can be huge – if the giant container ship Always given Stuck in the Suez Canal for six days in March 2021, caused months of supply chain problems and cost the maritime industry an estimated $10 billion a day.

Even more devastating than the economic impact, however, is the fact that one person died when the ship was liberated.

While incidents of this magnitude are not common, grounding and collisions between ships or ships and stationary objects such as oil rigs and bridges do occur regularly – in Japan, for example, on average 286 ship collisions yearly.

These accidents can not only cost money and sometimes lives, but also damage the environment — 62% of oil spills between 1970 and 2021 were caused by tanker collisions or groundings.

autonomous ships

How was the Case with the Ever Givenare ultimately blamed for most accidents at sea human errortherefore, the maritime industry is now developing ships capable of operating with greater autonomy.

These vessels are called “Maritime Autonomous Surface Ships(MASS) and in June 2019, the International Maritime Organization (IMO) — the UN agency that regulates shipping — approved guidelines for MASS trials.

Three months later, Japanese shipping company NYK Line conducted the world’s first MASS trial using these guidelines, letting an autonomous navigation system steer a giant ship during a two-day voyage from China to Japan.

“[The system] collected information about environmental conditions around the ship from existing navigation devices, calculated the risk of collision, automatically determined optimal routes and speeds that were safe and economical, and then automatically navigated the ship.” wrote NYK line.

autonomous ships

An example of the data analysis NYK’s system performed to determine the ship’s ideal course. Credit: NYK Line

Since then, several more MASS trials have taken place, and Avikus – a subsidiary of Hyundai Heavy Industries, the world’s largest shipbuilder – has now conducted the first, in which a large ship deployed an autonomous navigation system on an overseas voyage.

That ship, the Prism Courage, left a port in the Gulf of Mexico on May 1, passed through the Panama Canal, and reached a port in South Korea 33 days later.

AI route selection increased fuel efficiency by 7% and reduced CO2 emissions by 5%.

For about half of the trip, the ship was steered by an autonomous navigation system called HiNAS 2.0 – the AI ​​evaluated the weather, waves and the rest of the ship’s environment to determine the ideal route in real time and then directed the ship’s control systems to follow it .

HiNAS 2.0’s ability to detect other ships near the Prism Courage during the voyage has allowed it to avoid collisions more than 100 times, according to Avikus. AI route selection also increased fuel efficiency by about 7% and reduced CO2 emissions by about 5%.

Both the American Bureau of Shipping (ABS) and the Korea Register of Shipping (KR) monitored the Prism Courage’s voyage in real time.

“Avikus’ autonomous navigation technology was very helpful in this ocean crossing test, particularly to maintain navigation routes, change directions autonomously and avoid nearby vessels,” said Young-hoon Koh, captain of the Prism Courage.

autonomous ships

The Prism Courage’s captain and several crew members examine HiNAS 2.0 during the voyage. Photo credit: Avikus

The final result

The IMO rates the degree of autonomy of a MASS on a scale starting with level 0 (no autonomy) and ending with level 4 (full autonomy). HiNAS 2.0 is a Level 2 system – that is equivalent to a self-driving car that still needs a backup driver behind the wheel.

As with autonomous cars, the speed with which the shipping industry approves fully autonomous ships (if it does) will depend in large part on how fast controller adapt to the technology. The fact that shipping is one international affair complicates this process as regulations can change between ports.

“We may not remove the person from the ship, but we will remove them from the bridge.”

Hendrik Busshoff

Some think ships are more likely to always have someone on board, as it would be easier to authorize than a ship without a crew, while still allowing shippers to reap most of the benefits of autonomous navigation technology.

“We may not remove the person from the ship, but we will remove them from the bridge and let them do more high-quality work and call the person when they are needed,” Hendrik Busshoff, product manager for autonomy at a maritime technology company Wärtsilä-Reise , said Wired in 2020.

Avikus hopes to play an important role in bringing autonomous navigation systems to ships at sea – it expects the ABS to certify HiNAS 2.0 based on Prism Courage’s journey and plans to start commercializing the technology before the end of 2022.

We’d love to hear from you! If you have a comment on this article, or if you have a tip for a future Freethink story, please email us at tips@freethink.com.

]]>
Could declining freight rates reduce the price pressure on promotional products? https://avalononsea.co.za/could-declining-freight-rates-reduce-the-price-pressure-on-promotional-products/ Thu, 16 Jun 2022 13:34:21 +0000 https://avalononsea.co.za/could-declining-freight-rates-reduce-the-price-pressure-on-promotional-products/

The essentials

The recent rapid drop in ocean freight rates is unlikely to result in lower prices for promotional products, industry leaders say. Meanwhile, the “stock glut” and slump in demand some retailers are experiencing aren’t problems with advertising, suppliers report.

Freight rates are falling dramatically

According to available data from online freight marketplace Freightos, spot prices for shipping containers carrying products – including promotional items – from China/East Asia to the US West Coast fell by 30% between May 20 and June 10. Mid-March to mid-June, prices fell 40%. Meanwhile, China/East Asia to US East Coast rates fell 25% from May 20 to June 10 and 31% since mid-March.

Impact on Promo Prices

During the pandemic, exponentially increasing shipping/container costs have contributed to price increases on promotional products and other merchandise. Could there be a boomerang effect with falling rates as reduced container costs translate into lower promotion prices?

Probably not – at least not in the foreseeable future, say the industry’s sourcing pros.

“While it may cost suppliers less in the short term, they need to work through current inventory levels before retailers see price reductions,” said Jeffrey Nanus, CEO of Norwood, NJ-based hardgoods supplier AAA Innovations (asi/30023). “For direct import orders, it’s still difficult to set the lowest ocean freight rates in advance, so we still have to be conservative.”

Freight rates and prices related question: Will the elimination of tariffs on Chinese-made imports lower the prices of promo products? ASI Media’s Christopher Ruvo tackles the question in this quick video.

Factors keeping promo prices high

Additionally, despite recent declines, freight rates remain a significant cost burden as they remain well above pre-pandemic norms or what was seen at the onset of COVID. According to Freightos, current China/East Asia to US West Coast rates have increased by 268% since the end of June 2020.

Another factor that could keep promotional prices at current levels—or possibly even push them higher—is that industry suppliers continue to shoulder severe inflation across a variety of inputs that impact a product’s cost. Rising prices for labor, fuel, raw materials, transportation, storage space, and more can—and have—increased the cost of making, storing, decorating, and selling a product. Such elements remain in play.

“We have to remember that container freight charges are just part of a cost structure that we need to consider,” says Teresa Fang, vice president of supply chain at alphabroder (asi/34063), promo’s second largest supplier. “Reductions in freight costs can be offset by increases in labor costs, for example for decoration, as minimum wage increases and other wage increases come into effect to secure labour. Also remember: ocean carriers have the power to cut capacity to try and increase rates as much as possible.”

10.8%
The producer price index, a measure of the prices paid to producers of goods and services up 10.8% YoY in the US in May.

(Office for Labor Statistics)

A temporary pardon?

As Fang alludes to, it’s possible that the drop in freight rates is only temporary. Consider: container imports for the US decreased by 36% between May 24th and early June, a major reason for interest rate cuts. There is uncertainty about the extent to which demand may recover, but at least some shipping industry leaders are expecting imports to intensify as the peak for the year is reached in the third quarter ahead of the holiday season. This could lead to freight rates rising again.

“Cargo for the peak season is on the way,” Gene Seroka, general manager of the Port of Los Angeles, said recently. He anticipates an early start to peak volume in 2022, with arrivals from late June, Cargo waves reported.

Freightos added in a note: “Any significant increase in container traffic from Asia – either from the reopening of Shanghai (after COVID-related social lockdowns) or from the expected increase during the peak season – would likely exacerbate existing congestion and delays in the destination ports . which in turn will increase pressure on interest rates.”

Overstock in retail

Retailers like Walmart, Abercrombie & Fitch, Kohl’s and Macy’s say their inventories have increased significantly. Some, like Target, are reporting that inventories have risen disproportionately, and they’re cutting orders and slashing prices to correct it. A potential drop in orders from retailers and other importers could be one of several possible reasons for the recent drop in imports.

The bloating of inventories at some retailers appears to be a result of changing consumer behavior. Retailers ramped up imports in 2021 and for much of the first half of 2022 to meet unbridled consumer demand for things like housewares and certain types of clothing. However, as Americans have spent more money on travel, going out, and various types of products, retailers are now overflowing with certain items. Discounts are a way to clear excess inventory and make room for more in-demand items or Christmas items.

Promo demand remains high

Retailer overstocks don’t seem to be a problem for Promo so far. Indeed, the opposite of too much product has been a constant challenge for the promotion during the economic recovery from COVID – it has been out of stock, with suppliers suffering from stock shortages of key items.

Because of this, suppliers have become more proactive in importing, bringing larger amounts of inventory into the States further ahead than normal and holding more inventory on hand. It’s a strategy they say has helped reduce inventory shortages — and one they plan to continue pursuing for now.

“Although we are seeing signs in the economy that there could be a slowdown, we have not seen any fall in demand. We remain optimistic for a strong Q4.” Liz Haesler, PCNA

“Once the shipping issues ease up, suppliers will try to reduce inventories back to normal levels, but I think most of us will be careful about that,” says Nanus. “Most suppliers will wait until at least spring 2023 to bring inventories to more normal levels. Our company’s strategy for the second half of 2022 is to maintain the currently high stock levels. We now want to place orders for spring 2023.”

The pace at which promo suppliers can build inventories could potentially accelerate if overall import demand remains at lower levels or falls, but as mentioned, the impact of that is uncertain… and there is potential for A rest.

Separately, Nanus and others say the impetus to continue to import aggressively and keep inventories at higher-than-historic volumes comes from demand for branded items remaining high even when there have been economic headwinds. “Right now, demand is strong and growing,” says Fang. Nanus adds: “The business has remained very strong.”

Polyconcept North America (PCNA, asi/78897), the fourth-largest provider of promos by revenue, has frontloaded imports this year to fuel inventory and ensure ample inventory is in place, especially with holiday stamp gifting season in full swing . It’s a bet that the company believes will pay off handsomely.

“Although we are seeing signs in the economy that a slowdown may be occurring, we have not seen demand slowing down,” said Liz Haesler, PCNA’s global chief merchant. “We remain optimistic for a strong fourth quarter. We will have the inventory, manpower and decorating ability to deliver.”






]]>
Industry groups hail maritime reform passage after Biden criticizes ‘rip-off’ https://avalononsea.co.za/industry-groups-hail-maritime-reform-passage-after-biden-criticizes-rip-off/ Tue, 14 Jun 2022 22:01:18 +0000 https://avalononsea.co.za/industry-groups-hail-maritime-reform-passage-after-biden-criticizes-rip-off/

The American Trucking Association (ATA) and Consumer Brands Association (CBA) welcomed Monday’s passage of a new bill that will boost oversight of shipping and industry transparency.

The Ocean Shipping Reform Act, which marks the first major overhaul of maritime regulations in 24 years, requires the Federal Maritime Commission to investigate complaints about detention and demurrage charges levied by ordinary shipping companies, determine whether those charges are reasonable and provide refunds to arrange if they are unreasonable charges. It also prohibits ordinary shipping companies, sea terminal operators or sea transport intermediaries from unreasonably refusing cargo space where available or resorting to other unfair or unjustified discriminatory methods.

President Joe Biden has urged a crackdown on the concentrated market power of ocean shipping, saying in a speech at the Port of Los Angeles on Friday, “The rip-off is over.”

Biden said Monday he looks forward to signing the law.

Earlier: Airlines push back as Biden and Congress take over ocean shipping

“This day has been a long time coming,” said ATA President and CEO Chris Spear. “This law provides important tools to address unjustified and illegal fees levied on American truckers by the shipping cartel — fees that helped shipping companies generate $150 billion in profits last year. These fees are hurting American carriers and consumers, and are helping to fuel record inflation. We thank Congress for passing this bipartisan solution and urge President Biden to sign it into law quickly.”

“Decisive policy action is essential to address supply chain challenges as the consumer goods industry continues to grapple with unprecedented production and shipping costs,” said Tom Madrecki, vice president of supply chain and logistics at CBA. The pandemic and subsequent disruptions have highlighted the vulnerability of the complex supply chain system and the need to modernize decades-old ocean regulations to address the declining performance of maritime shipping and unfair practices that harm American manufacturers, farmers and consumers.

The House of Representatives passed Bill 369-42 after passing it by vote in the Senate on March 31.

“This is the first significant change in ocean shipping regulations in more than two decades — a time when the industry has become a cartel of 10 foreign-owned companies that wielded tremendous power over American truckers and consumers. said Jon Eisen, director of ATA’s Intermodal Motor Carriers Conference. “Thanks to this bipartisan legislation, these hauliers can no longer charge truckers exorbitant and illegal demurrage, increasing efficiency and reducing costs throughout the supply chain.”

]]>
Trans-Tasman shipping could boost trade and jobs, Maritime Union says https://avalononsea.co.za/trans-tasman-shipping-could-boost-trade-and-jobs-maritime-union-says/ Mon, 13 Jun 2022 04:26:00 +0000 https://avalononsea.co.za/trans-tasman-shipping-could-boost-trade-and-jobs-maritime-union-says/

The Maritime Union says the election of a Labor government in Australia could offer potential benefits for trans-Tasmanian shipping.

Craig Harrison, national secretary of the Maritime Union of New Zealand, says the reintroduction of Australian- and New Zealand-flagged vessels and crews is an obvious way forward to resolve the ongoing transport disruptions.

He says attitudes towards local shipping have changed significantly as the industry now demands reliable and safe shipping – a transformation from just in time to just in case thinking in the logistics industry.

Mr Harrison says there is great potential with similar governments in both countries aligning shipping policies and developing regional transport links.

“We have had some very positive results in New Zealand as the government has worked with local shipping companies to develop coastal shipping and there is good reason to extend this to regional shipping services.”

He says a dedicated trans-Tasman shipping service could help with the ongoing congestion and delays affecting international shipping.

“It is important that New Zealand and Australia build our deep sea shipping capabilities and have our own crews and vessels that provide secure supply chains.”

© Scoop Media

In the 50 years since Norm Kirk first promised to take the bikes off the bikes, our politicians have repeatedly tried to win votes by promising to crack down on gangs. Canterbury University academic Jarrod Gilbert (an expert on New Zealand gang culture) recently delivered chapters and verses on the decades of political posturing about gangs – spearheaded by the likes of Mike Moore and others – and the tenuous results that have been consistently ineffective. In today’s political climate, Gilbert’s research on the 1990’s political panic over gangs remains highly relevant…
More>>

]]>
TAIFEX Launches Futures Tracking Taiwan’s Semiconductor, Shipping & Transportation Giants | Taiwan News https://avalononsea.co.za/taifex-launches-futures-tracking-taiwans-semiconductor-shipping-transportation-giants-taiwan-news/ Sat, 11 Jun 2022 07:48:00 +0000 https://avalononsea.co.za/taifex-launches-futures-tracking-taiwans-semiconductor-shipping-transportation-giants-taiwan-news/

TAIPEI (Taiwan News) – The Taiwan Futures Exchange (TAIFEX) has unveiled two new futures tracking the motherboard’s most active semiconductor, transportation and shipping stocks, available for trading on June 27.


The launch of Taiwan Semiconductor 30 Futures (SOF) and Shipping and Transportation Sector Futures (SHF) will allow investors who invest their money in the leading semiconductor, transportation and shipping companies by market cap to better hedge risk amid the wild ride since faced in 2021.


Taiwan is a leader in the global chip supply chain. The nation enjoys the highest market share in pure foundry and packaging and testing industries. It is also the second largest integrated circuit (IC) design market in the world.


According to TAIFEX, SOF tracks the performance of the top 30 semiconductor companies, ranked by market capitalization, listed on the Taiwan Stock Exchange and the Taipei Exchange. These companies include Taiwan Semiconductor Manufacturing Company (TSMC), MediaTek Inc., ASE Technology Holding Co, and United Microelectronics Corporation (UMC), among others. Together they accounted for 92.72% of the market cap and 99.51% of transactions per category at the end of 2021.


SOF can also be traded by investors overnight for timely risk management during US trading hours when the main constituents of the index are listed as American Depositary Receipts (ADRs).

As a major player in the global container shipping industry, Taiwan has benefited from increases in demand and rates as it is home to some of the world’s largest shipping giants by vessel capacity, including Evergreen, Yang Ming and Wan Hai.


SHF’s underlying index, the TAIEX Shipping and Transportation Sub-Index, includes companies such as EVA Air, China Airlines and Taiwan High Speed ​​Rail and measures the overall performance of the country’s shipping and transportation stocks. The launch of SHF will allow investors to gain exposure to this key sector while managing any disruption.

]]>
Should you use Star Bulk Carriers Corp. (SBLK) sell in the maritime shipping industry? https://avalononsea.co.za/should-you-use-star-bulk-carriers-corp-sblk-sell-in-the-maritime-shipping-industry/ Thu, 09 Jun 2022 14:07:31 +0000 https://avalononsea.co.za/should-you-use-star-bulk-carriers-corp-sblk-sell-in-the-maritime-shipping-industry/

With a rating of 92, Star Bulk Carriers Corp. (SBLK) close to the forefront of the maritime shipping industry InvestorsObserver. Star Bulk Carriers Corp. Earnings out of 92 means it reaches more than 92% of the stocks in the industry. Star Bulk Carriers Corp. also received an overall rating of 71, over 71% of all shares. Shipping ranks 11th out of 148 sectors.

SBLK has an overall score of 71. Find out what that means for you and get the rest of the leaderboard on SBLK!

What do these ratings mean?

Trying to find the best stocks can be a daunting task. There are a variety of ways to analyze stocks to determine which are performing the best. InvestorsObserver makes the whole process easier by using percentile rankings that allow you to easily find the stocks that have received the highest ratings from analysts. This ranking system includes numerous factors used by analysts to compare stocks in more detail. This makes it relatively easy to find the best stocks available in any industry. These percentile ratings, which use both fundamental and technical analysis, give investors an easy way to see the attractiveness of specific stocks. Stocks with the highest scores have the best ratings from analysts working on Wall Street.

What Happens To Star Bulk Carriers Corp. Stock Today?

Star Bulk Carriers Corp. shares (SBLK) are trading at $27.83 as of 10:05 am on Thursday, June 9, down -$0.47 or -1.66% from the previous close of $28.30. The stock has traded between $27.26 and $28.33 so far today. The volume is less active than usual today. So far 1,136,191 shares have been traded compared to an average volume of 2,625,390 shares. Click here to download the full Star Bulk Carriers Corp. stock report.

Stay up to date

Subscribe to our daily morning update newsletter and don’t miss any major market news, moves and more.

Thanks for signing up! You are ready to receive the Morning Update newsletter

]]>
Container ships could reduce emissions through just-in-time arrivals https://avalononsea.co.za/container-ships-could-reduce-emissions-through-just-in-time-arrivals/ Tue, 07 Jun 2022 22:05:00 +0000 https://avalononsea.co.za/container-ships-could-reduce-emissions-through-just-in-time-arrivals/

Published June 7, 2022 18:05 by

The Maritime Executive







Shipping companies have increasingly recognized the benefits of voyage optimization for fuel savings and cost control, but a new report from an IMO-sponsored low-carbon public-private partnership highlights the immediate benefits of cutting carbon emissions through what they call “just in time”. Arrivals.” By focusing on even a relatively small number of voyages, they emphasize that the shipping industry could see immediate results in reducing carbon emissions as work on future technologies and alternative fuels progresses.


Just-in-time arrivals allow ships to optimize speed during their voyage to arrive in port when berth, fairway and nautical services are available. It represents a mindset shift for the industry, as many experts point out that captains are judged on their ability to arrive on time, which often results in them driving fast to ensure on-time or early arrival. However, as fuel costs have risen, shipping lines have increasingly implemented voyage optimization programs, and even ports, such as those on the US Pacific Coast, have asked container ships to optimize their voyages to address the backlog of ships waiting outside ports and the resulting reduce emissions.


“In the fight against climate change, global shipping has a steep climb to climb and we must pull out all the stops to deliver in line with the Paris Agreement,” said Captain Andreas M. van der Wurff, Port Optimization Manager at AP Moller – Maersk and Chair of the Low Carbon GIA Ship-Port Interface workstream, which sponsored the research. “The study underscores that while we are working to accelerate and scale the availability of future green fuels, significant emissions reductions can be achieved in the short term by bringing ships, terminals and ports together to share standardized data and facilitate just-in-time arrivals. “


The study shows that container ships can reduce fuel consumption and the resulting carbon dioxide emissions per voyage by up to 14 percent through JIT arrivals. The results show that while optimizing speed over the entire duration of a voyage offers the greatest savings opportunity, there are also benefits (5.9 percent) when a ship optimizes speed over a 24-hour period, or even benefits ( 4.2 percent) when achieved over a 12-hour period. “This indicates that implementing JIT in the last 12 hours of a voyage can already contribute significantly to fuel and emissions savings,” the report concludes.


The analysis also shows that 50 percent of potential fuel savings could be realized by focusing on a comparatively small subset of trips (8.5 percent for total trips, 6.5 percent for the last 24 hours, and 3.2 percent for the last 12 hours). According to the study’s authors, these trips are “potential candidates for first movers” in the approach that offers the opportunity for industry to achieve immediate emissions reductions.


“The results of this study demonstrate that operational changes in industry practices to effectively implement JIT can result in significant fuel consumption and therefore CO2 emissions savings,” the report concludes.


The research was conducted by MarineTraffic and Energy and Environmental Research Associates using AIS data from 339,390 container ship voyages in 2019. They calculated that the ships consumed 43.97 million tons of fuel and tested applying the optimization techniques to those voyages. The scenarios dealt with overall trip optimization from controller station to controller station as well as just-in-time arrival for the last 24 or 12 hours of the trip before reaching the controller station. Fuel savings ranged from 1.8 million to 6.2 million tons, while resulting CO2 emission reductions ranged from 5.8 million to 19.4 million tons.


They conclude that the study shows the potential to achieve significant savings by implementing the optimization strategies. However, realizing these savings requires collaboration between shipping companies, ports and terminals to optimize voyages and properly implement JIT arrivals.


While it is clear that the sooner a ship can take steps to optimize speed, the greater the potential fuel economy savings, they also call for additional research to help implement the approach. They also recommend further studies on the proportion of trips that target the small percentage of trips with the potential for the greatest reduction in emissions.


That complete study is available online from IMO.





]]> HEMEXPO highlights need for collaboration in new IOBE marine equipment report https://avalononsea.co.za/hemexpo-highlights-need-for-collaboration-in-new-iobe-marine-equipment-report/ Mon, 06 Jun 2022 05:32:28 +0000 https://avalononsea.co.za/hemexpo-highlights-need-for-collaboration-in-new-iobe-marine-equipment-report/

Thanasis Athanasopoulos, Vice President of HEMEXPO (Image courtesy of HEMEXPO)

A new report from HEMEXPO, Greece’s leading association of marine equipment manufacturers and exporters for the international shipping industry, outlines the ambitious goals the association has set itself to support the education and training of the next generation of marine equipment specialists.

The new report “Marine Equipment Manufacturing: Trends, Prospects and Contribution to the Greek Economy” is based on a study conducted by the Foundation for Economic and Industrial Research (IOBE). It suggests that bridging the gap between labor supply and demand in the marine equipment market requires industry action to drive closer collaboration with educational institutions and raise awareness of the career opportunities available.

HEMEXPO Vice-President Mr. Thanasis Athanasopoulos commented: “The results of the study have revealed new challenges facing marine equipment manufacturers, but the most important finding relates to human resources management. The report confirms HEMEXPO’s view that increased collaboration between marine equipment manufacturers and educational institutions is key to improving the skills of existing personnel; A coherent approach is needed to develop a range of training programs that cater to graduates and professionals alike.”

The integrated approach in the report suggests that HEMEXPO and its members should seek collaboration with universities to empower young professionals to consider careers in the maritime industry and to help create curricula that meet the demands of the labor market.

HEMEXPO proposes the creation of a fully-funded internship program, which Mr. Athanasopoulos said should include incentives to participate, to attract young professionals with the desired skills who often move into other industries unrelated to their studies.

The report also considers the financial performance of HEMEXPO companies and assesses the impact of HEMEXPO on the Greek economy – in terms of its contribution to GDP, employment and public revenues – based on the latest available data. For example, taking into account the impact of the Covid-19 pandemic, the study shows that the direct impact of HEMEXPO on the Greek economy increased by 3.6% in 2020, indicating the resilience of HEMEXPO companies and companies operating in the water transport sector indicates.

Sea News, June 6

]]>