MSC explains 2020 Sulphur Cap Bunker charge mechanism for 2019

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In one of our previous articles about IMO 2020 Sulphur Cap, we reported that many shipping lines will be adopting the regulations but also implementing a bunker surcharge to cover the same..

MSC is one of the lines that have announced the introduction of new bunker charges as of 1 January 2019 to achieve the common goal of improving environmental performance in the container shipping supply chain, as required by the IMO 2020 Sulphur cap..

MSC has revealed the mechanisms for the calculation of their 2020 sulphur cap bunker surcharge..

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More ships using vegetable oil as fuel

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In April 2018, more than 100 Member States met at the United Nations International Maritime Organization (IMO) in London and adopted an initial strategy on the reduction of greenhouse gas emissions from ships by at least 50% by 2050 compared to 2008 levels..

It was reported previously, that as from 1st of January 2020 the new global limit on the sulphur content will be 0.50% m/m..

More and more shipowners seem to be going the route of using vegetable oil as fuel..

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New paperless system saves South Africa’s fruit export sector R250m

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In a demonstration of what positive things can happen when the Government and Agricultural sector partner in innovation, a new paperless system is set to save South Africa’s fruit export sector ZAR250 million..

After a successful pilot and implementation by Department of Agriculture, Forestry and Fisheries (DAFF), the roll out of a new e-Certification IT platform to the fruit industry in 2019, will save the industry at least R250 million over the next five years..

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Take back your shipment of trash..!!

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South Korean government is said to have confirmed that it would take back approximately 5,100 tons of trash shipped in containers from South Korea to Mindanao in July..

This cargo seems to have been exported to Philippines under forged documents and were not declared correctly..

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Digitalization club for container industry in the making

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Major shipping lines from within the container shipping industry namely, Maersk Line, MSC, CMA-CGM, Hapag Lloyd and ONE are locked in discussions to create an association looking to pave the way for further digitalization, standardization and interoperability within the industry..

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CargoX wins the IRU World Congress Startup competition

shipping and freight news

CargoX wins the IRU World Congress Startup competition among 77 competitors, impressing more than 1000 attendees from over 60 countries.

The IRU organization is constituted of more than 100 national transport associations and transport operators. Igor Jakomin, Ph.D., COO of CargoX, pitched the CargoX platform to a jury of venture capitalists, business professionals, and industry experts.

The startup competition was organised by Road Ventures SA, a Captive Venture Capital Fund that supports innovation in mobility. The competition was dedicated to launching and advising the world’s next wave of leading entrepreneurs.

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Now ports also get in on the Blockchain action

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Many people may remember fondly while some may choose to forget the famous tech bubble of 2000, when a long list of internet and tech related stocks peaked and then crashed into a bear market..

Many companies like Microsoft, Cisco, Intel, Qualcomm, Apple etc were part of this bubble.. Some of the bubbles burst, while some survived..

Will Blockchain prove to be one such bubble that will last or burst…………………..

Blockchain has been

  • successfully used by Banks and Shippers to create Trade Finance documents ;
  • creative enough to get a Tech company and the World’s largest container line to invest in it ;
  • successfully used by companies to create and transmit smart bills of lading with it ;

Now it seems to be the turn of ports and port authorities to get in on the Blockchain action..

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India’s first blockchain enabled Letter of Credit transaction completed

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Blockchain – that newfangled concept seems to be catching on quickly and moving along quite nicely in the shipping and freight industry..

A Blockchain is a ledger that uses cryptography, the internet and naturally computers to create, share, transfer, track and secure assets and transactions (represented/organised as blocks) belonging to everyone to fulfil a certain function..

Unless the previous transaction is not completed in the chain and shared forward with a timestamp, the next transaction cannot happen..

In the first transaction of its kind in India, HSBC India and ING Bank Brussels have enabled, successfully executed and completed a full blockchain driven trade finance transaction between India’s Reliance Industries and USA’s Tricon Energy..

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56% of businesses have not planned for Brexit

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Despite being only left with 150 days until Brexit, over half (56%) of business leaders have not started to make plans for the impact of Brexit on their business.

As per the discussions and a live poll conducted at the Brexit Business Event, this is guided by the belief of the majority (68%) that a deal will not be completed by March.

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Container Booking comes in an Instant Flavour now

shipping and freight news

A.P. Moller – Maersk becomes the first container shipping company to launch instant booking confirmation..

One of the first steps in a container shipment is the process of booking..

This is also one of the areas where the customers often face delays leading to frustrations resulting in sometimes the deal between the shipping line and the customer being cancelled even before the shipment takes place..

Maersk Line, currently the largest container shipping line in the world has reportedly become the first container shipping company to launch instant booking confirmation much like a flight ticket booking..

Read on..

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