What is IMO 2020 and how you could be affected..

IMO2020 - shipping and freight resource

If you are in the shipping and freight industry you may have heard several whisperings, notices, loose talk, official talk, speeches etc about IMO 2020..

But what is this IMO 2020, who will be impacted and how will it affect your life in the shipping and freight industry..??

This article examines the impact of IMO 2020 on shipping lines and cargo owners, the options available and how this lower sulphur emission standards can be achieved..

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Mining, Energy sectors are key to South Africa’s maritime growth

shipping and freight news - shipping and freight resource

The Minister of Transport of South Africa, Dr Blade Nzimande, kicked off a two-day Maritime Transport Sector Dialogue on Thursday the 28th February 2019 at the Southern Sun Elangeni Hotel in Durban, KwaZulu-Natal..

This inaugural Maritime Transport Sector Dialogue will work towards promoting a strong relationship between government and private sector regarding developments, challenges, opportunities and transformation in the maritime sector..

Maritime stakeholders from government and the private sector, organized labour, shipping industry, business community and academia are attending the event..

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NVOCC register created and minimum standards set for the issuance of NVOCC Bills of Lading

nvocc register - shipping and freight resource

The International Maritime Bureau (IMB) estimates from its work in verifying Bills of Lading that over 95% of all improperly issued Bills of Lading are issued by – yeah you guessed it – Non-Vessel Owning Common Carriers (NVOCCs)..

The IMB identifed that there is a prevalence of issuance of incorrect NVOCC bills of lading by the NVOCC which is then presented to banks and other stakeholders in the trading and finance chain, with the aim of defrauding the trade finance system, possibly for the purposes of multiple financing, money laundering, etc..

The IMB has developed a business solution to mitigate the effects of this problem..

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General Average declared on fire stricken Yantian Express

Shipping and Freight Resource - News

It was expected and would have been just a matter of time.. 

We reported previously that part of the 16-year-old Yantian Express the 7,510 TEU, 320m German-flagged ship of Hapag Lloyd went up in flames on the 3rd of Jan 2019 while on its way from Colombo to Halifax via the Suez Canal..

The container fire that broke out was largely contained and brought under control after one week and the ship sailed to the Port of Freeport (Bahamas) for further recovery and cargo damage assessment. when it arrives in Freeport around the 1st of Feb 2019.. 

On January 25, 2019, Hapag Lloyd declared “General Average” for the Yantian Express..

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Maersk Line clamps down on container misdeclaration

Cargo Misdeclaration - Maersk Line - Shipping and Freight Resource

Misdeclaration in weight or misdeclaration of hazardous content has been the bane of the shipping industry and the carriers who have suffered several consequences due to misdeclarations..

When such misdeclarations are done, it does not just affect the ship, the carrier involved and the person who chose to misdeclare their cargo.. These misdeclarations result in cargo damage and affect everyone else’s cargo, especially when entire ships are lost..

Millions of dollars worth of goods and assets are lost due to this, not to mention the huge impact on the environment and the loss of life (human or otherwise)..

IMO and other stakeholders took these misdeclarations seriously and SOLAS VGM came into effect.. Life after SOLAS VGM seems to be hunky dory and no major incidents have been reported in relation to weight misdeclarations..

However, the recent spate of maritime disasters is causing some worries to the container lines.. Having had first-hand experience with such misdeclarations and maritime disasters, the world’s largest container line – Maersk Line – has put its foot down on these misdeclared cargoes..

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Concor enters Coastal Shipping in India

Concor enters Coastal Shipping in India

India measures around 2,933 Kms from West to East and around 3,214 km from South to North and boasts a coastline of around 7,516..

Given such distances and the volume of goods handled, rail transport was found to be one of the cheaper options for all cargoes over medium to long distances..

Indian Railways entered the cargo market for moving door-to-door domestic cargo in special DSO containers starting in 1966..

Container Corporation of India Ltd. (CONCOR), was incorporated in March 1988 under the Companies Act, and commenced operation from November 1989 taking over the existing network of 7 ICDs from the Indian Railways..

Amid increasing competition, inadequate rail and road infrastructure, a rapidly changing market driven by weak demand and digitization, Concor has decided to enter the coastal shipping market in India..

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Difference between Harbour, Port, Terminal, Berth, Quay, Pier, Jetty

Harbour, Port, Terminal, Berth, Quay, Pier, Jetty - Shipping and Freight Resource

Harbour, Port, Terminal, Berth, Quay, Pier, Jetty – you are not alone if you are confused about these terminologies..

To many of us, these terminologies sounds the same.. It took me also a while to understand the difference when I started out in this industry..

So here’s how it works..

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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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Extreme winds shuts down the port of Port Elizabeth in South Africa

shipping and freight news - shipping and freight resource

Port Elizabeth is one of the main ports in South Africa and is a main port of call for many carriers on the East/West Trade between Far East/South East Asia and the Americas and the North/South Trade between Africa and Europe..

Since the morning of 30th October, access to this main port has been restricted as one of the 5 STS (Ship to Shore gantry cranes) was blown off its rails due to the extreme winds that Port Elizabeth (PE) has been facing..

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Which type of vessels is each maritime nation buying..??

shipping and freight news - shipping and freight resource

Despite the relative difficulty in obtaining adequate ship financing, activity in the S&P market for second hand vessels is still rather brisk.

Every nation has its own requirement for ships for their trade.. In this article shared from Hellenic Shipping News Worldwide, we look at which ships are in demand and what types of vessels each maritime nation is buying..

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