The Port of Hamburg on Thursday (2 July) said it welcomes the German government decision to waive traffic dues at the Kiel Canal from 1 July, 2020 to 31 December, 2020.
“Caused by the Corona crisis, the maritime economy is under massive cost pressure and traffic on the Kiel Canal is experiencing an unprecedented decline,” said Jens Broder Knudsen, Chairman of the Kiel-Canal Initiative.
This decline is mainly due to current historically low bunker prices, which would lead to a considerable competitive disadvantage for the Kiel Canal compared to the detour around Skagen, it said.
The route around Denmark is longer and less environmentally friendly, but is free of traffic dues.
“The suspension of the traffic dues is an important step to restore the competitiveness of the Kiel Canal,” added Knudsen.
“It does justice to the importance of the Kiel Canal, which secures over 3,000 jobs in the region and around 51 million tons of cargo in the port of Hamburg alone.”
The port adds that it would now review whether the temporary suspension of the levies would be sufficient or whether a permanent suspension would be a more sustainable solution in the long run.
Photo credit: Port of Hamburg
Published: 7 July, 2020
Both China and Singapore are committed to meeting their sustainability goals under the Paris Agreement, and have embarked on green finance agendas.
Latest development leaves a total of 44 accredited bunker suppliers operating at Singapore port, show MPA data.
‘We have solved 132 international cases of marine fuel contamination,’ says Managing Director.
A green maritime fund is needed to support decarbonisation in shipping but has to be supported by a zero emission standard to bring certainty to investors, says BPA.
CEO sees the development of domestic tourism as motivation to count on the restoration of passenger traffic and to harness the potential of the river market segment.
Bunkering sector to see frequent and significant price swings depending on location and availability, updates CEO.
‘Generally, you have to heat VLSFOs to prevent waxing, but the more you heat them the lower the shelf life is going to be,’ Dr Malcolm Cooper, the Group Managing Director of VPS, tells Manifold Times.
Current low prices for road and aviation fuels in September could mean another increase of flashpoint off-spec cases for MGO when players start introducing the products back into the bunker stream.
Some bunker suppliers at various ports have even achieved their sales target for the year; the trend doesn't seem to be slowing down and suppliers are expecting a boom during end of September.
The company has entered a memorandum of agreement with Millenium Satu Ltd to acquire the 7,550 dwt oil tanker to increase service flexibility; vessel will be paid over an installment period of 36 months.
Deloitte & Touche JMs believe IPP has a viable claim against Dr Goh Jin Hian for breaches of his director’s duties to act with skill, care and diligence which he owned to IPP, states court document.
An earlier MPA notice outlined precautionary measures for personnel to observe when conducting marine refuelling operations at port in order to minimise the risk of contracting Covid-19.
