By Pepe Escobar Asia Times
The unipolar model of the world order has failed. -
Vladimir Putin, St Petersburg, May 22
In more ways than one, last week heralded the birth of a Eurasian century. Of course, the US$400 billion Russia-China gas deal was clinched only at the last minute in Shanghai, on Wednesday (a complement to the June 2013, 25-year, $270 billion oil deal between Rosneft and China's CNPC.)
Then, on Thursday, most of the main players were at the St Petersburg International Economic Forum - the Russian answer to Davos. And on Friday, Russian President Vladimir Putin, fresh
from his Shanghai triumph, addressed the participants and brought the house down.
It
Growth in demand for commodities like iron ore will slow in China
A shift in the Chinese economy toward the service sector and away from industries dependent on imports and exports could hurt the bulk carrier sector beginning in 2015-2016, Christopher Rex, head of research at Danish Ship Finance told industry news site ShippingWatch.
Rex said many industry players and observers may be too optimistic about demand for bulk carriers because they fail to adequately account for the shifting nature of economic growth in China.
"When we look at the Chinese growth rate of around seven percent, which used to be around ten percent, then of course that represents a lower growth target for the Chinese economy, though still a high growth," he
Extra costs will depend on the size and fuel efficiency of containerships
For deep-sea container carriers, switching to marine gas oil (MGO) to comply with new sulfur limits in Emissions Control Areas (ECAs) will add $29 to $49 per twenty-foot equivalent unit (TEU) to the cost of trans-Atlantic shipping, according to a new analysis by Drewry Maritime Advisors (Drewry).
For voyages between Northern Europe and the U.S. East Coast, the analysis puts the extra cost at about $29 per twenty-foot equivalent unit (TEU), while the cost for trips that continue into the U.S. Gulf Coast, the extra expense rises to $49 per TEU.
"The industry must look more closely at the cost impact of the low-sulphur regulation, so that carriers and shippers can negotiate and manage the cost increases
Crews did not use all available resources, such as radar tools
An investigation into three collisions resulting in bunker spills around Singapore early this year found that human error was the main cause of all three incidents, the Singapore Maritime and Port Authority says.
The investigation found a "lack of situational awareness" among the ships' bridge teams, including the pilots, despite advisories and traffic warnings provided by the MPA's Port Operations Control Centre (POCC).
Crews also did not use all the available means to avoid the collisions, such as an automatic identification system (AIS), automatic radar potting aid (ARPA), radar, and electronic chart display and information system (ECDIS).
"Appropriate disciplinary actions will be taken against the members of the bridge teams, including the pilots, for contravening
Reuters
MOKPO, SOUTH KOREA – Tried and convicted by an angry public before their case has even come to court, South Korea’s legal system appears to be failing 15 surviving crew members of the Sewol ferry, which sank last month, killing hundreds of children.
Lawyers are unclear how they can mount a convincing defense of the crew, who jumped ship as the children waited in their