• 2018 October 13 09:06

    OOCL fleet moves forward to meet IMO 2020 regulation

    With new Sulphur cap on marine fuel lowering from 3.5% to 0.5%, approximately 85% of Sulphur emissions is expected to be reduced but at a significant cost to the entire industry, estimated at about US$60 billion each year.

    Currently, the industry has been grappling with the challenges associated to fleet adjustment options, including uncertainties in the availability and accessibility of the 0.5% Low Sulphur Fuel (LSF) in the market and the premium that will be charged for the cleaner fuel. OOCL will begin its transition into the use of LSF for our entire fleet during the second half of 2019, the company said in its press release.

    By looking into the expected bunker consumption of its fleet and the projected price difference from switching to the compliant fuel which may possibly become increasingly expensive due to tight supply in the market, OOCL expects the additional cost impact to easily fall well above half a billion dollars.

    In preparation for the surge in this operating cost and in consideration of the continual trend of rising fuel prices in the market, OOCL will be introducing a bunker recovery approach based on a floating bunker formula that will better reflect the changes in the industry environment. This approach will take various factors into account, including the different fuel types being used, fuel price fluctuations, ship size and capacity, and vessel utilization levels.

    “Orient Overseas Container Line" and “OOCL" are trade names for transportation provided separately by: Orient Overseas Container Line Limited (“OOCLL") and OOCL (Europe) Limited respectively and both are wholly-owned subsidiaries of Orient Overseas (International) Limited, a public company (0316) listed on the Hong Kong Stock Exchange. Headquartered in Hong Kong, OOCL is one of the world's largest integrated international container transportation and logistics companies, with more than 360 offices in 70 countries. Linking Asia, Europe, North America, the Mediterranean, the Indian sub-continent, the Middle East and Australia/New Zealand, the company offers transportation services to all major east/west trading economies of the world. OOCL is one of the leading international carriers serving China, providing a full range of logistics and transportation services throughout the country. It is also an industry leader in the use of information technology and e-commerce to manage the entire cargo process.




2019 January 16

13:25 Société Générale and MPA Singapore join SEA\LNG Board
12:58 Vladivostok Sea Fishing Port handled 4.54 million of cargo in 2018, up 14% Y-o-Y
12:33 VEB team got acquainted with Zvezda SBC production
12:09 ABS Advanced Solutions and Fleet Management Limited partner on cyber security
11:56 Engineers from Far Eastern Federal University provide scientific support of dry dock construction at Zvezda shipyard
11:30 Bunker prices at the Port of Saint-Petersburg, Russia show no significant changes (graph)
11:09 Port of Oakland cargo volume hit all-time high in 2018
10:52 3 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on January 15-16
10:35 ​IMO Secretary-General highlightes the need to consider seafarer training and standards
10:09 Fincantieri to build a new ship for Regent Seven Seas Cruises
09:57 Brent Crude futures price down 0.02% to $60.57, Light Sweet Crude – down 0.03% to $51.97
09:41 CMA CGM OCEANIA LINES - PAD service to resume weekly rotations
09:16 Baltic Dry Index is down to 1,096 points

2019 January 15

18:18 WMU investigated how the global transport industry will change as a result of automation and advanced technologies
17:52 ASCO Training Center achieved all targets set for 2018
17:27 Sovcomflot provides technical management for Marshal Vasilevskiy floating storage and regasification unit
17:00 Throughput of port Shanghai (China) climbed by 0.07% to 561.29 million tonnes in 2018
15:59 Bunker prices continue going down at the Far East ports of Russia (graph)
15:04 Equinor uses technical expertise from LR to lead a safety study assessment for significant offshore project in Brazil
14:44 Container throughput of port Hong Kong (China) down 5.4% to 19.64 million TEUs in 2018
14:21 ONE achieves container loading records in two consecutive weeks by “MOL TRUST” and “MOL TRADITION”
14:00 Port of Klaipeda (Lithuania) handled 46.58 million tonnes of cargo in 2018, up 7.3% Y-o-Y
13:36 Turnover of DeloPorts’ terminals in 2018 increased by 13% Y-o-Y to 8.7 mln tonnes
13:12 Havyard merges its navigation, automation and power systems services into one brand
12:53 Order portfolio of Zvezda Shipbuilding Complex grew by 42% in IIH’2018
12:30 ABS grants AIP for Neptun’s wind turbine transport vessel
12:01 ZIM’s blockchain based B/L’s initiative: the next phase
11:43 9 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on January 14-15
11:29 Jan De Nul enters into concession agreement with the Government of Bangladesh for the dredging of Payra Port
11:20 CDP, Fincantieri and Snam team up to innovate port facilities in Italy and develop sustainable technologies for maritime transport
10:37 Black Sea Fleet trains for new exercises of Depth 2019 contest
10:04 Brent Crude futures price up 1.19% to $59.7, Light Sweet Crude – up 1.27% to $51.13
09:42 Icebreakers of FSUE Rosmorport assisted 2,026 ships in navigation season 2018-2019
09:19 Baltic Dry Index is down to 1,147 points

2019 January 14

18:00 EU, China and the U.S. needs to support counter-piracy operations in the Gulf of Guinea – BIMCO
17:38 Port of Singapore throughput in 2018 grew by 0.4% Y-o-Y to 630.03 million tonnes
17:06 The new Kvarken ferry will be built in Raumo
16:30 Hapag-Lloyd announces Marine Fuel Recovery Surcharges for North Europe
16:00 Full ban on open-loop scrubbers not yet imposed in China
15:36 China adopted new regulations concerning reporting of fuel consumption
15:12 ABP strengthens business with new steel contract at the Port of Immingham
14:47 ABP: £250m to keep Britain trading through Brexit
14:20 PIL adds Itajai call to Sino South America Service (SSA)
13:59 Average wholesale prices for М-100 HFO up to RUB 13,924 in RF spot market
13:35 Russian Railways: Loading of export cargo bound for domestic ports up 4.5% to 306.5 million tonnes in 2018
13:13 Color Line expands Kiel – Oslo cargo capacity
12:54 Posidonia 2020 promises to be the largest and most versatile in its 50 year history
12:32 IMO helps Member States with sustainability targets
12:11 Crowley’s LNG-fueled ConRo MV Taíno completes maiden voyage to Puerto Rico
11:50 IMO holds training on maritime counter-terrorism measures in Viet Nam
11:31 ICTSI flagship gets eco-friendly RTGs
11:08 Cai Mep Terminal receives world’s large container ship
10:44 4 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on January 13-14
10:21 Cargo turnover at the terminals of the Freeport of Ventspils increased in 2018
09:58 Brent Crude futures price down 0.94% to $59.91, Light Sweet Crude – down 0.95% to $51.11
09:40 Throughput of port Helsinki (Finland) in 2018 grew by 3.3% Y-o-Y to 14.71 million tonnes
09:19 Baltic Dry Index is down to 1,169 points

2019 January 13

17:04 Number of ships sailing with Selektope®-powered antifouling coatings set to double in 2019
16:29 Finnish shipbuilder RMC inks LoI for a new car and passenger ferry
15:24 Crowley’s LNG-fueled ConRo MV Taíno completes maiden voyage to Puerto Rico