News & Media

12 June, 2020

Australian Newsletter - Issue 630

KEEP SHIPS MOVING, PORTS OPEN AND CROSS-BORDER TRADE FLOWING, URGE UN ENTITIES
Source: International Shipping News (Hellenic Shipping News)
The world’s reliance on maritime transport makes it more important than ever to keep ships moving, ports open and cross-border trade flowing, and to support ship crew changeovers, the United Nations maritime and trade entities said in a joint statement. The International Maritime Organization (IMO), which regulates shipping, and the United Nations Conference on Trade and Development (UNCTAD), which tracks world trade, reiterated calls for Governments to promote crew well-being by allowing crew changes and ensuring seafarers and other maritime personnel have access to documentation and travel options so that they can return home safely.
FULL STORY

MABUX: BUNKER MARKET THIS MORNING, JUNE, 11
Source: Daily Bunker Report (International Shipping News)
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs increased on June, 10: 380 HSFO – USD/MT – 287.08 (+2.75), VLSFO – USD/MT – 333.00 (+4.00), MGO – USD/MT – 406.90 (+3.77) Meantime, world oil indexes also demonstrated upward changes on June 10. Brent for August settlement increased by $0.55 to $41.73 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for July rose by $0.66 to $37 .41 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $2.13 to WTI.  FULL STORY

DP WORLD SUCCESSFULLY CONCLUDES ACQUISITION OF TIS CONTAINER TERMINAL, UKRAINE
Source: Port News (Hellenic Shipping News)
Dubai-based provider of worldwide smart end-to-end supply chain logistics, DP World, with a global network of 123 business units in 54 countries, has announced the completion of its acquisition of a 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine. This follows satisfaction of specific conditions including confirmation of regulatory approval from the relevant government authorities. This project will be DP World’s second partnership with TIS shareholders, the first being our very successful partnership in the P&O Maritime Ukraine which provides harbour towage services in the principal Black Sea ports in the Ukraine.    FULL STORY

WHY YOUR PACKAGE MIGHT BE LATE: SHIPPING INDUSTRY WARNS OF TRADE LOGJAM AS CREWS REMAIN STRANDED
Source: Peggy Hollinger, Robert Wright and Michael Pooler (Financial Post)
The international shipping industry has warned of a threat to global trade from a mounting crisis on board merchant vessels, with up to 400,000 crew stranded either at sea or at home by travel restrictions because of the COVID-19 pandemic. One German-owned tanker last week refused to sail unless replacement crew could be brought in, said industry executives and union representatives, amid concerns over rising fatigue and safety.  FULL STORY

NUMBER OF SHIPPING CYBER ATTACKS LEAPS 400% SINCE FEBRUARY
Source: Sam Chambers (Splash 247.com)
Israeli maritime cyber security experts Naval Dome claim there has been a 400% spike in shipping-targeted hacks since February this year with the coronavirus pandemic leaving the sector very vulnerable. “While an increase in malware, ransomware and phishing emails exploits the Covid-19 crisis is the primary reason behind the spike, Naval Dome furthers that travel restrictions, social distancing measures and economic recession are beginning to bite a company’s ability to protect itself,” the company stated in a release yesterday.  Among high profile cyber attacks in recent months, Mediterranean Shipping Co (MSC) was struck over the Easter weekend while Australia’s Toll Group has suffered not one, but two hacking incidents this year.  FULL STORY

STELLA MARIS SURVEY REVEALS IMPACT OF COVID-19 ON SEAFARERS
Source: International Shipping News (Hellenic Shipping News)
Putting food on the table, paying household bills and loans and ensuring job security are among the top concerns faced by seafarers as they cope with the impact that Covid-19 is having on their lives and that of their families. A recent survey conducted by global maritime charity Stella Maris showed that such financial worries have had a profound impact on seafarers, with 69% saying that Covid-19 has impacted them financially “a lot” or “very much”. Seafarers also said the pandemic has had a significant impact on their emotional, mental, physical and psychological wellbeing.  FULL STORY

GLOBAL INITIATIVE LAUNCHED TO TACKLE MARINE BIO-FOULING AND GREENHOUSE GAS EMISSIONS
Source: Jim Wilson (Shipping Australia Limited)
A new “Global Industry Alliance for Marine Biosafety” was launched on 08 June by the International Maritime Organization, along with other global stakeholders, to tackle marine biofouling and greenhouse gas emissions. The aim of the GIA is to “accelerate the development of solutions to improve the management of marine biofouling” and to “contribute a significant reduction in greenhouse gas emissions”, the IMO said.  FULL STORY

IRON ORE PRICES SOAR AS VALE SHUTS MINES DOWN
Source: Tara Hamid (Australian Mining)
Australia’s big iron ore miners are set to cash in on surging iron ore prices as Brazil’s Vale has been hit with coronavirus-related troubles.
The Brazilian court ordered Vale to shut down the Conceição, Cauê and Periquito mines at the Itabira complex south-east of the country after 188 workers had tested positive for COVID-19. The ruling will remain in effect until control measures have been implemented to protect workers from COVID-19. The mines shutdown will take about 10 per cent of Vale’s iron ore output offline, or about 2.7 million tonnes per month, which equates to about 2 per cent of the global market.  FULL STORY

WESTERN AUSTRALIA BREAKS WEEKLY IRON ORE EXPORT RECORD
Source: Argus Media
Exports from the four largest iron ore producers in the Pilbara region of Western Australia jumped to a record high in the week to 6 June at 32pc above average, as Rio Tinto and Roy Hill hit new weekly records, and BHP and Fortescue came close. The four firms loaded vessels with 22.59mn deadweight tonnes (dwt) of capacity in the period, up from 16.82mn dwt the previous week and above the weekly average of 17.13mn dwt/week over the past year. The deadweight tonnage is the maximum capacity of the vessel and so overestimates actual shipments by around 5pc.  FULL STORY

PORT HEDLAND EXPANSION SETS UP WA JOB OPPORTUNITIES
Source: Vanessa Zhou (Australian Mining)
The port of Port Hedland in Western Australia has contributed a whopping $64.1 billion to the Australian economy in 2018–2019, but this is set to increase even further over the next decade. In a report backed by figures from BHP, Fortescue Metals Group, Roy Hill, Rio Tinto, Sandfire Resources, Pilbara Minerals and Mineral Resources, the port’s activities are estimated to pump an extra $26.2 billion to the economy by 2028–2029. The increased production could deliver an extra $21 billion in taxes and royalties and create an average of more than 5300 additional full-time jobs over the next 10 years.  FULL STORY

TASMANIA JOBS BOOST
Source: thinkingaustralia.com
Tasmania Jobs Boost: A government incentive to boost the economy of Tasmania will see a massive construction boom in the next couple of years. The Tasmania government has announced plans to spend $3.1 billion on infrastructure to stimulate its economy over the next two years. The program of works is designed to immediately stimulate the economy, boost private investment, and give Tasmanian businesses and workers certainty, said Michael Ferguson, Minister for Infrastructure and Transport. The Tasmanian Government is delivering an aggressive infrastructure program to get even more projects underway in the next six to 12 months in a bid to boost Tasmania jobs.  FULL STORY

VENTURE MINERALS SIGNS ROAD ACCESS AGREEMENT FOR RILEY IRON ORE PROJECT
Source: Imelda Cotton (Small Caps)
Perth-based Venture Minerals (ASX: VMS) has moved a step closer to re-starting the Riley iron ore mine in north-west Tasmania after signing an access agreement with Hydro Tasmania covering the initial 21km of haulage road from mine site to port. The agreement has secured an all-weather transport route from Riley’s mine gate to the Port of Burnie, 120km away, and affords Venture a clear and rapid development pathway, with the first shipment targeted for next month subject to completion of financing.  FULL STORY

NEW PLAN TO CONNECT PORT KEMBLA GAS TERMINAL TO VICTORIA
Source: Energy Magazine
Jemena has outlined a plan to connect a proposed LNG import terminal at Port Kembla to the Eastern Gas Pipeline (EGP).  The energy infrastructure company has also advanced plans to modify the EGP to allow surplus gas to flow to Victoria. The $70 million plan aims to overcome gas shortages across Australia’s east coast, which are forecast from as early as 2022.  Dyer replaces the recently retired Sara Lunam and will join Port of Tauranga later this year. She is currently the General Manager People and Culture for Tauranga-based Trustpower Limited. Prior to joining Trustpower in 2014, Dyer spent 11 years at Hydro Tasmania, where she held various roles including People and Performance Manager and Manager Health, Safety and Quality.  FULL STORY

ANNUAL DREDGING PROGRAMME AT THE PORT OF WEIPA COMPLETED
Source: Jessica Casey (Dry Bulk)
North Queensland Bulk Ports Corp. (NQBP) has successfully completed annual maintenance dredging at the Port of Weipa, overcoming the challenges of the COVID-19 pandemic. NQBP CEO, Nicolas Fertin, said the dredge vessel TSHD Brisbane left the Port of Weipa last week after finishing the 24-day programme. “I would like to commend all our staff and contractors for their hard work ensuring this project came to fruition,” Fertin said. “Across all our ports, NQBP is balancing our number one priority, the health and safety of our people and local communities, with the criticality of our ports.  FULL STORY

CRUISE SHIPS BANNED FROM QUEENSLAND UNTIL PANDEMIC IS OVER
Source: Lydia Lynch (Brisbane Times)
Cruise ships have been banned from entering Queensland waters until the coronavirus pandemic is over. Queensland Health on Friday extended its ban on a foreign flagged cruise ship from entering state waters "until the end of the public health emergency". The public health emergency was due to expire on August 17, but that date can be extended. Four of the six Queenslanders who have died after contracting novel coronavirus were cruise ship passengers.  FULL STORY

Whilst every effort has been made to ensure the accuracy of the information contained herein, Inchcape Shipping Services accepts no liability nor makes any representations or warranties of any kind, express or implied, as to its completeness, accuracy, reliability or suitability