• 2019 October 10 10:09

    CMA CGM to apply Low Sulphur Surcharge to comply with the IMO 2020 Low Sulphur Regulation

    From January 1st, 2020, the new IMO (International Maritime Organization) 2020 Low Sulphur Regulation will be in effect. All sea-going vessels worldwide will have to comply and reduce their sulphur emissions by 85%, CMA CGM said in its release.

    To comply with the Regulation, sulphur in fuel oil must be reduced from 3.50% to 0.50%, in addition to the 0.10% sulphur limit already effective in the Emission Control Areas (ECA). This aims to reduce the amount of sulphur oxide emissions and should have major health and environmental benefits globally, including improving air quality and reducing risks of acidification of the oceans.

    CMA CGM Group will be compliant with a mix of 3 solutions: using liquid natural gas-powered vessels, using advanced air quality systems onboard of vessels, and as the main solution, using compliant fuels with 0.50% or 0.10% sulphur.

    The new IMO 2020 Low Sulphur Regulation impacts the global shipping industry and shipping costs are set to increase worldwide. As the cost of the Very Low Sulphur Fuel Oil (VLSFO) is expected to be significantly higher than the present High Sulphur Fuel Oil (HSFO), CMA CGM will implement a new price reference for its short-term and long-term contracts.

    For short-term contracts of validity 3 months or shorter, a new monthly charge – Low Sulphur Surcharge (LSS) – will be applied on top of CMA CGM’s ocean freight charges, effective 1 December 2019.

    For long-term contracts of more than 3 months’ validity, VLSFO will replace HSFO as the price reference for the quarterly Bunker Adjustment Factor (BAF), effective 1 January 2020. The BAF is applied on top of the ocean freight charges and will still be revised on a quarterly basis with a one-month notice. The BAF quantum for reefer cargo will be 20% higher than that of dry cargo for the same container size, with a minimum of USD25/TEU.




2019 October 17

18:12 World's first emission-free push boat “Elektra” to have SCHOTTEL propulsion units
17:47 Five vessels call at the port of Brussels to show technological solutions to cut CO2 and air emissions
17:45 Nexans celebrates the next step in the construction of its Aurora cable installation vessel
17:43 Lotos shipyard delivers non-self-propelled cargo pontoon of Project GRPN
17:41 DFDS takes delivery of third Chinese-built RoRo
17:19 RroZero rolls out new 12m Site-Management boat for fish farming markets
16:14 North Sea Port offers online liner services
15:50 Ships detachment of RF Navy’s Pacific Fleet arrive on business call to Kingdom of Thailand
15:26 Maldives received maritime security training from IMO on the ISPS Code
15:02 Maritime policy for sustainable development was in focus of IMO national workshop in Chile
14:37 IMO workshop helps put maritime development in Africa’s mainstream
14:11 VT Halter Marine launches first US-flagged offshore LNG bunker ATB barge for Q-LNG
13:25 Bunker prices are flat at the Far East ports of Russia (graph)
13:01 Port of Oakland container volume up 3.1 percent in September 2019
12:41 Thordon to supply propeller shaft bearings for MSC Cruises' third Seaside class cruise ship
12:08 Oboronlogistics launched new shipping line linking ports of Novorossiysk, Tartus, Alexandria and Samsun
11:39 NIBULON MAX made her first cargo trip
11:00 Port of Long Beach posts cargo volume of 707,000 TEUs in September 2019
10:44 Air quality measures make impact at Port of Southampton
10:23 ABP held its annual oil spill exercise on the Humber
10:02 LUKOIL BoD recommends interim dividend amount
09:40 Brent Crude futures price is down 0.67% to $59.02, Light Sweet Crude – down 0.84% to $52.91
09:21 MABUX: Bunker market this morning, Oct 17
09:18 Baltic Dry Index is down to 1,897 points
09:04 BOA awarded contracts to charter two vessels for the state’s emergency response preparedness
08:39 LLOG Exploration orders subsea trees for the Shenandoah Project in the deepwater Gulf of Mexico

2019 October 16

18:37 Damen partners with TCS for increased vessel connectivity
18:07 AET christens two of the world's first LNG dual-fuel DPSTs to be chartered out to Norway's Equinor
17:35 PSA Marine signs frame agreement with Hydroniq Coolers
17:22 MODEC awarded Letter of Intent by Petrobras related to Marlim 1 FPSO
16:57 Throughput of port Kaliningrad in Jan-Sep’2019 fell by 21% Y-o-Y to 8.45 million tonnes
16:22 IBM boards the Mayflower Autonomous Ship project
16:22 Throughput of port Vysotsk in Jan-Sep'2019 climbed by 4% Y-o-Y to 14.27 million tonnes
15:58 Patrol ship of RF Navy’s Black Sea Fleet to take part in events dedicated to anniversary of Navarino battle
15:35 Navios Maritime Partners announces repayment of its Term Loan B
15:19 Throughput of port Primorsk in Jan-Sep’2019 grew by 18% Y-o-Y to 46.93 million tonnes
14:53 Port of Ust-Luga handled 77.49 million tonnes in 9M’19, up 7% Y-o-Y
14:34 NEPTUN WERFT holds keel laying ceremony for AIDAcosma
14:06 Throughput of Port St. Petersburg in Jan-Sep'2019 grew by 2% Y-o-Y to 44.97 million tonnes
13:45 Zvezda shipyard lays down fourth Aframax tanker for Rosnefteflot
13:20 Carnival Cruise Line to add fourth ship in Galveston
12:12 Hapag-Lloyd to apply a Peak Season Surcharge from North Europe to East Asia
11:51 WMU and AHHIC cooperate on marine insurance
11:33 Gazprom Neft establishes a Singapore subsidiary company to develop its international marine lubricants business
11:20 Intensive training on port management and efficiency held in France
10:57 IMO visited United Kingdom to assess country's implementation of special maritime security measures
10:14 LUKOIL enters Ghasha project for extraction of hydrocarbons in UAE
10:01 MPA of Singapore to strengthen collaboration on cyber resilience and response at the 5th Port Authorities Roundtable
09:59 APM Terminals Gothenburg to double rail volumes by 2022
09:52 Brent Crude futures price is up 0.19% to $58.85, Light Sweet Crude – up 0.13% to $52.88
09:36 Baltic Dry Index is down to 1,898 points
09:18 Bunker prices are flat at the port of Saint-Petersburg, Russia (graph)
08:43 Award-winning yachts honored at Cannes - Azimut, Benetti, and Galeon
08:35 MABUX: Bunker Market this morning, Oct 16

2019 October 15

18:37 MOL conducts tabletop drill based on an incident simulation involving containership
18:07 Fincantieri announces delivery of the fourth Royal Princess class ship at the Monfalcone shipyard
17:55 Tatarstan and Gazprom sign action plan for implementation of pilot project on using LNG powered ships
17:36 Keppel delivers fourth jackup rig to Borr Drilling
17:06 Maritime and Port Authority of Singapore revokes Inter-Pacific Petroleum Pte Ltd’s bunker craft operator licence
16:49 Hudson Shipping Lines joins the Trident Alliance as a member