Business

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GREENLAND’S MELTING ICE SHEET HAS ‘PASSED THE POINT OF NO RETURN’, SCIENTISTS SAY

19 AUG 2020 Greenland’s ice sheet may have hit a tipping point that sets it on an irreversible path to completely disappearing. Snowfall that normally replenishes Greenland’s glaciers each year can no longer keep up with the pace of ice melt, according to researchers at Ohio State University. That means …

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FDA GRANTS EMERGENCY AUTHORISATION TO CHEAP NEW COVID-19 SALIVA TEST

18 AUG 2020 On Saturday, the US Food and Drug Administration granted emergency use authorization to a saliva-based test funded by the NBA and National Basketball Players Association to be available for public use, the agency announced. The test was developed by researchers at Yale and jointly funded by the …

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USING LIQUID AIR FOR ENERGY STORAGE AND MARITIME PROPULSION

Liquid air energy storage and regeneration plant 18 AUG 2020  In the area of renewable energy vessel propulsion, the scale of maritime vessel technology allows for application of grid-scale energy storage technologies that would otherwise be impractical for road or rail vehicle propulsion. Initiatives are underway in the UK to …

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GROUNDED BULKER WAKASHIO BREAKS APART OFF MAURITIUS

17 AUG 2020  The situation at the grounded bulk carrier Wakashio started to deteriorate overnight on Friday, August 14, and on Saturday, August 15 the end came when the 203,000 DWT Panama flagged bulk carrier broke apart. The drama had begun three weeks earlier when the ship sailing from China to Brazil …

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SINGAPOREAN SHIPPING MAGNATE CHARGED WITH ORDERING FAKE LOAN DOCUMENTS

16 AUG 2020  The Singaporean oil and shipping magnate Lim Oon Kuin – better known as OK Lim – has been charged with “abetment of forgery for the purpose of cheating” in connection with an allegedly fraudulent trade financing transaction. According to prosecutors, OK Lim instructed a contracts executive at …

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OFFICER ON WATCH ASLEEP AS CARGO SHIP GROUNDS IN THE PHILIPPINES

15 AUG 2020  In one of the more unusual groundig incidents, a Vietnamese-flagged cargo ship went aground in the Philippines today (13th Aug). The Philippine Coast Guard responded to the scene of the accident and reported that their investigators were told, “According to Captain Nguyen Hoai, skipper of MV Globe 6, …

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SCRUBBER INSTALLATIONS CONTINUE WITH CONTAINERSHIPS LEADING THE WAY

14 AUG 2020  The installation of scrubbers and the economics of using this technology was one of the hottest topics in the shipping industry in the lead up to the January 1, 2020 introduction of the International Maritime Organization’s (IMO) global sulfur regulations. The containership industry as of mid-year became …

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CHALLENGES AND OPPORTUNITIES OF THE NORTHERN SEA ROUTE

13 AUG 2020 This year, SCF’s LNG carrier Christophe de Margerie completed an early eastbound voyage along the North Sea Route. What is your assessment of this voyage? What difficulties arose during the voyage? Do you plan similar early voyages in the future? In the eastern sector of the NSR, …

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IRANIAN FORCES BOARD LIBERIAN-FLAGGED TANKER IN THE PERSIAN GULF

12 AUG 2020  In the latest salvo of the ongoing disputes regarding the shipment of Iranian oil, there are reports that Iranian Naval forces approached several vessels and boarded a Liberian-flagged tanker Wila as it was approaching the Khor Fakkan anchorage in the UAE. The marine security firm Dryad Global reported the …

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SINGAPORE BANK SEEKS COURT INTERVENTION FOR DISTRESSED SHIPPING GROUP

10 AUG 2020  Singapore’s OCBC Bank has sought a court-appointed supervisor to manage shipping firm Xihe Holdings Pte Ltd and four of its subsidiaries. Xihe Holdings is part of the troubled Singapore-based Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean Tankers (Pte) …

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