Aframax carries out rescue mission in Mediterranean

  • Market: Freight
  • 09/27/21

The 2020-built Aframax Aristofanis, owned by Greek firm Capital Ship Management, has arrived at the Egyptian port of Sidi Kerir after diverting to rescue 150 people in the eastern Mediterranean last week.

The incident took place late on 23 September as the vessel was ballasting towards Sidi Kerir. The ship master reported a small boat, around 15m long, with people on board. Those rescued were taken to Crete where they were received by the Greek authorities, according to Capital Ship Management. The Aristofanis then continued its journey and is now at Sidi Kerir terminal, according to shiptracking data.

Merchant ships involved in Mediterranean rescues have encountered difficulties in the past. The Handysize tanker Maersk Etienne rescued 27 people in the Mediterranean in August last year at the request of Maltese authorities, but then faced 38 days in limbo as no country was willing to let the ship dock. That was the third such incident in 2020, after the merchant ships Marina and Talia were delayed for four and six days, respectively, after rescuing people at sea, according to the International Chamber of Shipping (ICS).


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02/23/24

Panama urges fleet to avoid Red Sea, keep AIS on

Panama urges fleet to avoid Red Sea, keep AIS on

New York, 23 February (Argus) — The Panama Maritime Authority said today it "strongly recommends" all Panama-flagged vessels avoid transiting the Red Sea because of the increasing threat of Houthi attacks on commercial vessels, while warning vessels against turning off their automatic identification system (AIS). Some ship operators have chosen to disable their vessel's AIS to avoid detection by the Houthis with varying levels of success when transiting the region. That puts these vessels out of compliance with "international requirements related to position reporting," the authority said in a notice. More than 120 commercial and private vessels flagged by Panama were transiting the Suez Canal, the Red Sea, and the Gulf of Aden on Friday, according to vessel tracking data reliant on AIS. "All vessels hoisting the Panama flag before, during and after transiting the Red Sea, Gulf of Aden and Persian and their approaches must keep the AIS and long-range identification (LRIT) on except in those cases in which the captain considers that the safety of the vessel could be compromised or when a safety incident is imminent," the notice said. "The Panama Maritime Authority may sanction violations of such provisions in accordance with national legislation, if they do not formally report through LRIT and AIS to our administration at the appropriate time." The authority said the Bahamas-flagged vessel Galaxy Trader had operated without its AIS for 24 hours, traveling 250 nautical miles through the region, before being attacked by Houthis anyway. For vessels continuing to transit through the region, recommendations by the authority include traveling by night to avoid detection and installing searchlights to scan for the small vessels that likely act as spotters, the appearance of which have preceded Houthi missile attacks . But traveling by night comes with another risk. "At night, small and slow boats without a wake are difficult to detect on radar," the authority warned. "Don't stop if threatened and present a challenging target through proactive maneuvers." The Panamanian flag is flown by the plurality of flagged ships in operation at 17pc of the global fleet, represented by over 8,000 vessels, according to the state-owned Panama Ship Registry. By Ross Griffith Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Canal disruptions spur fast steaming: UN


02/22/24
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02/22/24

Canal disruptions spur fast steaming: UN

New York, 22 February (Argus) — Ship operators are increasingly speeding up their vessels to offset the lengthier voyages around the Cape of Good Hope necessary to avoid the conflict-afflicted Suez Canal and drought-plagued Panama Canal, according to a UN Conference on Trade and Development (UNCTAD) report published today. "The disruption in the Red Sea and Suez Canal, combined with factors linked to the Panama Canal and the Black Sea and leading to rerouting vessels through longer routes are causing vessel sailing speeds to increase," the UNCTAD said. "This is a means for ship operators to ensure schedule integrity and manage the fleet capacity." The jump in steaming speeds is a departure from record slow steaming speeds hit last year among the dry bulker segment as shipowners attempted to reduce emissions per the International Maritime Organization's (IMO) new environmental regulations, which kicked off in 2023. "An increase from 14 to 16 knots would increase ship (fuel oil) consumption per mile by 31pc," the UNCTAD said. "These trends could erode the environmental gains that had been achieved through slow steaming." The Argus -assessed carbon cost of freight (CCF), which ship operators have to pay to comply with the EU ETS, of a 65,000 dwt long range (LR1) refined products tanker traveling from Ras Tanura in the Middle East to Rotterdam was at 46¢/t on Wednesday, assuming a Suez Canal transit under nominal conditions, for a lumpsum of $30,223. The same fee to shipowners could hit as high as 96¢/t, or $62,129 lumpsum, assuming a 31pc increase in consumption from a two-knot increase in speed alongside the additional two weeks of travel time to avoid the Suez Canal around the Cape of Good Hope. Traders shift to rail Some traders looking to move commodities between the Atlantic and Pacific basins are adjusting their focus away from seaborne routing altogether, with rail traffic jumping in the US since the start of the year because of the rising danger near the Suez Canal and the ongoing drought restrictions at the Panama Canal, according to the UNCTAD. "In the United States, demand for rail transport services has surged as a result in recent weeks, as shippers no longer have the option of going through the Suez Canal as an alternative to the Panama Canal," the UNCTAD said. "The land bridge, which connects the ports of Los Angeles and Long Beach in the United States by rail with the wider North American hinterland, is the other main competitor for the Panama Canal." The move mirrors major container shipping giant Maersk, long a preferred client of the Panama Canal because of the large amount of traffic it pushed through the waterway, choosing earlier this year to halt many Panama Canal transits in favor of discharging two separate vessels on either side of Panama and swapping their cargoes by rail instead. West coast South America countries like Chile, Peru and Ecuador funnel 22pc, 22pc and 26pc of their total foreign trade volumes through the Panama Canal, according to the UNCTAD, and buyers in these countries of refined oil products like diesel and gasoline sourced from the US Gulf coast will need to continue to vie for booking slots at the Panama Canal in the absence of a rail connection. Those without slots will need to win auctions, which jumped above $500,000 lumpsum in early February per Argus assessments for the medium range (MR) tankers utilizing the Panamax locks, to secure passage. By Ross Griffith Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Teekay sees volatile 2024 in tight tanker market


02/22/24
News
02/22/24

Teekay sees volatile 2024 in tight tanker market

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Ship speeds on Red Sea rerouting to 'erode' GHG cuts


02/22/24
News
02/22/24

Ship speeds on Red Sea rerouting to 'erode' GHG cuts

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Ardmore sees strong product and chemical tanker rates


02/16/24
News
02/16/24

Ardmore sees strong product and chemical tanker rates

London, 16 February (Argus) — Product and chemical tanker owner Ardmore said this week that rates are likely to be boosted from large-scale geopolitical and climate-related trading restrictions that are are accentuating tight supply and demand fundamentals. The company's medium range (MR) tankers earned $32,500/d for the fourth quarter of 2023, with 60pc of the first quarter of 2024 booked at $35,400/d. Its chemical tankers earned $26,100/d for the fourth quarter of 2024, with 70pc of the first quarter booked at $26,700/d. Disruptions at the Red Sea and Panama Canal have added to the tonne-mile impact of the EU's embargo on Russian imports, Ardmore said. Rerouting of vessels via the Cape of Good Hope to avoid the Red Sea has increased voyage lengths by up to 70pc, it said. EU diesel inventories are approaching historic lows as a result of the EU ban on imports of Russian refined products, Ardmore said, and the company expects a further boost in EU import tonne miles as inventories normalise. Ardmore expects demand to be strong in the product and chemical tanker markets, driven by continued growth in oil demand as the global economy recovers from the Covid-19 pandemic and strong increases in petrochemical consumption. A trend of refinery expansion in Asia-Pacific will further boost tonne-mile demand to the west, and new petrochemical plants opening in 2024-30 and a growing trade in edible oils from Asia to Europe will support chemical tanker trades. A historically high average fleet age and low orderbook will further bolster product tanker rates, Ardmore said. Ardmore made a profit of $26.1mn for the final quarter of 2023, compared with $53.1mn a year earlier. By Matthew Mitchell Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.