What happens when IMO 2020 collides with cargo slump?


Greg Miller, Senior Editor   

Thursday, January 9, 2020




Capesize rates are crumbling. Photo credit: Star Bulk

What’s going on in dry bulk, the world’s largest transport market by volume, is a cautionary tale for all ocean segments.

The Jan. 1 implementation of IMO 2020, the global switch to low-sulfur marine fuel, is coinciding with a seasonal cargo-demand slump. Because bulker owners and operators must pay for the fuel in spot contracts, they’re netting even less as they’re having to cover the incremental cost of IMO 2020-compliant fuel.

In the spot market for “workhorse” Capesizes (bulkers with capacity of around 180,000 deadweight tons), vessel interests do not have enough negotiating power to pass along any of the costs of more expensive low-sulfur fuel to cargo interests.

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El Piloto de la Marina Civil Rafael Romero Filgueira






El político ferrolano Rafael Romero Filgueira nació en Ferrol el 24 de noviembre de 1885, siendo hijo del comerciante y banquero de Neda Juan Romero Rodríguez y de Elvira Filgueira Pavía. Juan Romero visitó el año 1889 la Exposición Universal de París, donde compró la llamada Fuente Wallace por la cantidad de mil reales. Instalada de origen en la ferrolana Praza Vella fue trasladada luego al Parque Municipal Reina Sofía. 

Rafael Romero, que estudió la carrera de la Marina Mercante, estuvo casado con María Álvarez Sisto, con la que tuvo ocho hijos, cuatro hembras y cuatro varones. Ejerciendo su profesión de piloto, sufrió dos naufragios prácticamente sucesivos, mientras navegaba por aguas atlánticas hacia Inglaterra, por lo que

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50,000 TEU... the Future or Not?









BY TOM BEBBINGTON 2017-11-09 19:11:06

In a recent report from the McKinsey Consulting Group there was a fascinating article about imagining the container shipping industry 50 years from now. I think they may be right to assume that 50,000 TEU vessels will come, but I think this will be much sooner than 2067.

From a technical and naval architecture standpoint, there isn't any limit on the size a container ship can be. There are currently three major limitations that a shipping line has to consider when building new vessels: terminal infrastructure limits, draft restrictions and length overall.

Currently there are vessels sailing close to the 22,000 TEU mark. This is something that was unimaginable 10 or 15 years ago. I'm

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Maritime Subsidies Do They Provide Value for Money?



The International Transport Forum The International Transport Forum is an intergovernmental organisation with 60 member countries. It acts as a think tank for transport policy and organises the Annual Summit of transport ministers. ITF is the only global body that covers all transport modes. The ITF is politically autonomous and administratively integrated with the OECD. The ITF works for transport policies that improve peoples’ lives. Our mission is to foster a deeper understanding of the role of transport in economic growth, environmental sustainability and social inclusion and to raise the public profile of transport policy. The ITF organises global dialogue for better transport. We act as a platform for discussion and prenegotiation of policy issues across all transport modes. We

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