2019 claims its first casualty of containers going overboard

Shipping and Freight Resource - News

Barely a day into the new year, 2019 has already claimed its first casualty in terms of containers lost at sea..

MSC Zoe, a 396m long containership capable of carrying 19,224 TEU was the unfortunate ship which got caught in heavy seas between Vlieland, Netherlands and the German Bight in the North Sea on New Year’s Day as per the Dutch Coastguard..

Although the exact number is to be verified, the coastguard is indicating that as much as 270 odd containers may have gone overboard in tough weather conditions..

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FMC’s Demurrage and Detention Charges investigation completed

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As you maybe aware, the Federal Maritime Commission initiated investigation, Fact Finding 28, in March 2018 to look into the question whether demurrage and detention charges in the shipping industry were justified..

Industry stakeholders raised a petition to address the question whether demurrage and detention fees charged to shippers for storing containers and using equipment beyond the carrier’s or terminal’s allowed “free time” were just and reasonable..

This question arose on the back of demurrage and detention charges levied by the port, terminal and shipping lines to the shippers especially in the key USA gateways of Los-Angeles/Long Beach on the West Coast and New York-New Jersey on the East Coast..

Here are the results of the investigation and its findings..

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Leaders and Visionaries in Shipping – Chang Yun Chung

Chang Yun Chung - Shipping and Freight Resource

In any industry, there are Leaders and Visionaries who innovate, design, create and shape it, benefiting everyone in the chain..

The Maritime, Shipping, Freight, Logistics and Supply Chain industries are no exception..

Through a series of articles, Shipping and Freight Resource is paying tribute to Leaders and Visionaries who shaped the modern day shipping industry..

In this article we feature one of the leaders and visionaries who shaped the modern day shipping industry – Mr.Chang Yun Chung – Founder of Pacific International Lines who, at a 100 years old is the world’s oldest living billionaire..

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Example of a currency swap and how it can help trade..

shipping and freight news

A Currency Swap is a pact between two countries that allows trading in their own currency and payments to import and export trade at pre-determined exchange rates without bringing in a third currency..

In this article we discuss with a latest example how the currency swap works and how it helps trade between the countries in the currency swap agreement..

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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

shipping and freight news - shipping and freight resource

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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