Free to view: “A sleeping giant is ready to roar,” International Longshoremen’s Association president Harold Daggett dramatically proclaimed on Tuesday. The ILA, which represents dockworkers at US east and Gulf coast ports, warned that “a strike at all ILA ports…at 12:01 am on October 1 seems more likely”. Also on Tuesday, a coalition of 177 trade associations representing all facets of US business lobbied the Biden administration “to immediately work with both parties to resume contract negotiations and ensure there is no disruption”. The dilemma for the Biden administration: The ILA has refused to allow the administration’s involvement in talks. The Biden administration played a role in last year’s final negotiations between terminal employers and the International Longshore and Warehouse Union on the west coast. But in the case of the east and Gulf coast contract, the union is blocking federal government participation. The letter to President Biden on Tuesday was signed by US trade associations representing sectors from retail to agriculture, customs brokers, forwarders, chemical distributors, forest products, manufacturers, restaurants and miners. Read more below from US senior maritime reporter Greg Miller ⬇ https://lnkd.in/effDJ9e3
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Lloyd’s List delivers curated maritime news and market analysis, evidenced by our actionable data. We bring unique insight to the latest developments and trends, keeping 20,000 professionals in maritime operations, risk identification, and compliance well informed of the constantly changing industry and what it means to businesses and markets around the globe. We are part of Lloyd’s List Intelligence, the industry experts delivering actionable maritime insight, data, and analytics trusted by 60,000 professionals to drive commercial advantage, evaluate risk, and support the efficient, and lawful movement of seaborne trade.
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Updates
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Free to view: Not only are the owners of the boxship that brought down a bridge in Baltimore likely to succeed in their claim for exoneration or limitation of liability, but the bridge may even be allocated a share of the fault, a marine insurance audience has been told. James Mercante a partner at the Gallo Vitucci Klar LLP firm in New York, was speaking at the International Union of Marine Insurance (IUMI) conference in Berlin. Mercante pointed out that the very first litigation resulting from the Dali (IMO: 9697428) casualty was a petition brought by owners under the US Limitation of Liability Act ( (LOLA) of 1851. Read more below ⬇️ https://lnkd.in/e_AB6QNG
Baltimore bridge may be allocated share of fault after boxship allision, US lawyer tells IUMI
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Premium volumes across all key marine classes rose in 2023, the International Union of Marine Insurance (IUMI) conference in Berlin was told this afternoon (September 16). The findings formed part of the annual facts and figures presentation from Astrid Seltmann, statistician for Cefor - The Nordic Association of Marine Insurers, which is one of the highlights of the event each year. The global marine insurance premium base for last year was reported at $38.9bn, representing an increase of 5.9% on the previous year. While not quite as dramatic as the 8.3% rise unveiled in Seltmann’s parallel presentation in Edinburgh last year, the performance will likely suffice to satisfy the top brass at insurance majors as well as attract still further new capacity to marine. Within the overall 2023 tally, ocean hull came in at $9.2bn, with cargo the largest single class at $22.1bn. Offshore energy premiums stood at $4.6bn. In terms of growth rates, ocean hull led the way by jumping 7.6%, with cargo following on 6.2%. Offshore energy was up 4.6%. https://lnkd.in/ev3Dbrjs
Marine premium volumes up across all major classes, IUMI told
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Free to view: Houthi rebels in Yemen clearly have the capability to sink ships but appear to be holding back for political and media management reasons, an influential marine insurance figure has warned. Lloyd's Market Association head of marine Neil Roberts was speaking to journalists at the International Union of Marine Insurance (IUMI) conference in Berlin on September 15. Roberts is also secretary to IUMI’s ocean hull committee and chair of its policy forum. “We have a new reality in the Red Sea and it is ongoing. There is no apparent prospect of it changing,” he said. “We must remember that the Houthis have evolved from an insurgency using roadside bombs to an organisation that is able to use ballistic missiles. “It has 873,000 trained personnel. It is a significant operation. It has political aims, and the reason it is targeting shipping is unchanged. It wants recognition as a state.” It is not obvious that its ambitions can be attained by the methods it is currently using, Roberts said. Read more below ⬇ Lloyd's List will be providing further coverage of the IUMI conference, running September 15-18, over the coming days https://lnkd.in/eX2SQf2f
Houthis have capability to sink ships but are holding back, Roberts warns
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Lloyd's List reposted this
As efforts resume to remove a blazing oil tanker that has been stuck in the Red Sea for more than three weeks after it was attacked by Houthi militants, salvage experts have warned that the operation could take several weeks. Any stand-off with the Houthis, though, has the potential to escalate one of the most complex salvage operations in recent history into a much longer-term political problem. No port of refuge has yet been agreed and what happens next remains the subject of increasingly fraught political discussions involving multiple international agencies, naval commands and potentially affected coastal states including Saud Arabia, Eritrea, Sudan and Egypt. Access Lloyd’s List’s free to read account of what’s happening here: https://lnkd.in/egbQChuE
Sounion salvage operation could take several weeks
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Free to listen: This week, Lloyd’s List’s editor-in-chief Richard Meade speaks to international shipping leaders to identify the industry's most pressing problems and ask whether it is up to the task Featuring: 🔵 Sotiris Raptis, secretary-general, European Community Shipowners' Associations (ECSA) 🔵 Caroline Yang, president, Singapore Shipowners’ Association 🔵 Guy Platten, secretary-general, International Chamber of Shipping Listen below ⬇ https://lnkd.in/et-wgGQU
The Lloyd’s List Podcast: Shipping’s to-do list from hell
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Free to view: Recycling took a hit this past year after Houthi attacks created the Red Sea crisis, lengthening voyages by 15 days and buoying freight rates such that demand for vessels dented recycling. Temporary Far East Asian ports’ congestion aggravated the slowdown. However, from now until 2026, Wirana Shipping expects substantial newbuilding ship deliveries in three segments — container, LNG and vehicle carriers that should result in older ships being sent for recycling Read more below ⬇ #sponsoredcontent https://lnkd.in/e-xY7mhR
Ship recycling outlook until 2026
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Orders for new containerships placed in 2024 look set to reach a combined capacity of 3m teu, the second-highest annual level of contracting after 2021 when almost 4m teu of slot capacity was contracted. According to data tracked by Lloyd’s List, a total of 211 containerships with a combined capacity of 2.6m teu has been ordered since January. While some orders are at letter of intent stage, or are awaiting shipbuilding contract refund guarantees, further newbuildings, with a combined capacity of at least 400,000 teu, are expected to be contracted during the fourth quarter. https://lnkd.in/eeXKmebQ
Boxship orders to hit 3m teu as methanol mania abates
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The drought crisis at the Panama Canal is now firmly in the rearview mirror. Official transit stats show impressive gains in August, driven by more containerships and very large gas carriers using the neopanamax locks and more bulkers traversing the panamax locks. Furthermore, the transit numbers do not tell the whole story. The containerships using the waterway on Asia-US routes are getting larger, carrying more cargo per transit. The 2024-built, 17,640-teu MSC Marie (IMO: 9962574) transited the canal on August 30 - the largest vessel to ever do so. There were an average of 30.8 transits per day through the canal in August, up 4% versus July, according to the latest data* from the ACP. The larger neopanamax locks averaged nine transits per day last month, with the panamax locks averaging 21.8 transits per day. This compares to 10 transits slots available per day in the neopanamax locks during August, and 25 slots available at the panamax locks. https://lnkd.in/exAc_jRs
Panama Canal bounces back, buoyed by boxships, VLGCs and bulkers
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Free to view: The UK has announced its third round of shipping sanctions, targeting 10 tankers it says are part of Russia’s ‘shadow fleet’. All 10 are managed by the same UAE-based company, Lloyd’s List Intelligence data shows, and were previously managed by sanctioned Sovcomflot entities https://lnkd.in/evkjurXF
UK sanctions 10 ‘shadow fleet’ tankers shipping Russian oil
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