COS Weekly Newsletter - Friday, 8 September 2023

COS Weekly Newsletter - Friday, 8 September 2023

COS Weekly Newsletter - Friday, 8 September 2023


COS Updates

‍Register now for our Shipping360 Conference

Register now for Shipping360, a 1.5-day conference bringing experts from across the globe to Vancouver to share insights on the global trade outlook, supply chain resiliency, decarbonization, environmental sustainability and digitalization. Don’t miss your opportunity to learn from, and network with maritime supply chain stakeholders and speakers from:

‍We're on Instagram

‍The Chamber has joined Instagram. Follow us @ShippingMatters, like our posts and help share our stories. This month we'll focus on our 100th anniversary sharing archive images, and historical facts on shipping. If you have something to share, tag us and use the hashtags #100YearsofShipping and #ShippingMatters. 

West Coast News

British Petroleum secures all of Woodfibre LNG's future capacity

BP has secured all of Woodfibre LNG's future capacity, buying 1.9 million tonnes of LNG annually from the Canadian project located in Squamish, B.C. Woodfibre LNG's lower carbon intensity is due to its use of electric cooling rather than natural gas. While Woodfibre LNG was designed to produce 2.1 million tonnes annually, the majority of its capacity will be allocated to BP, leaving only a limited amount available for spot sales. Enbridge, a partner in the project, is pleased with the announcement, highlighting its role in supplying low-emission LNG to global markets.

Neptune Terminals announces new president

Neptune Bulk Terminals (Canada) Ltd. has appointed Megan Owen-Evans as President, effective from early October 2023, succeeding Duana Kipling. Megan Owen-Evans is an experienced leader in the Vancouver waterfront industry, having served as President of another terminal since 2020 and playing a key role in waterfront diversity and inclusion efforts. The Board and senior management express confidence in her ability to contribute to Neptune's ongoing success. Duana Kipling, who has led Neptune for the past three years, is praised for her contributions, including overseeing significant capital projects, expanding Canadian resource handling, and achieving safety excellence during her tenure.

Canada Place is the World's Leading Cruise Port

For the first time in history, the World Travel Awards (WTA) named Canada Place the “World’s Leading Cruise Port.” The recognition seems a natural progression from being recognized in 2020 and 2021 as “North America’s Leading Cruise Port.”  From 2008 to 2022, the winner of the sought-after title was Mina Rashid in Dubai. The Copenhagen Malmö Port in Denmark took it 2005 from the Port of Miami, which kept the title from 1994 to 2004. Considered a national landmark, Canada Place is provides cruise passengers with access to many restaurants, shops, tourist attractions, and hotels to choose from. It also offers convenient access to public transportation.

Canadian News

Lantic secures $200 million funds for Montreal facility expansion.

Lantic Sugar is investing $200 million to expand and modernize its Port of Montreal facility, increasing sugar processing capacity by 20% and optimizing logistics. Currently handling over 580,000 tonnes of raw sugar annually, the plant imports sugar from Latin American countries, refines it and distributes it across Canada. The strategic location within the Port's territory allows for cost-effective importation and efficient transportation via road and rail networks. This expansion reinforces their partnership with the Port of Montreal.

International

USDOT urged to establish a National freight office by key industry stakeholders

Sixteen U.S. transportation industry stakeholders have written to U.S. Transportation Secretary Pete Buttigieg, urging the creation of an Office of Multimodal Freight Infrastructure and Policy within the Department of Transportation. They argue that such an office is necessary to address supply chain challenges and improve coordination among federal agencies, as mandated by the Infrastructure Investment and Jobs Act. Currently, there is no formal structure in place for this office, leading to ad-hoc coordination between departments.

Cruise industry making significant measures towards environment and sustainability

Cruise Lines International Association (CLIA) has released its 2023 Environmental Technologies and Practices Report, revealing significant progress in the cruise industry's environmental and sustainability efforts. The report highlights that cruise lines are investing $62 billion in 44 new ships over the next five years, with 25 of them using LNG power and seven being methanol-ready, contributing to the industry's transition toward low to zero carbon fuels. The data shows that CLIA ocean-going cruise lines continue their work to reduce emissions. Highlights include shore power capability, advanced wastewater treatment systems, renewable fuels and alternative energy sources.

Electronic bills of lading gaining popularity among major supply chain stakeholders

An alliance of industry associations, including BIMCO, DCSA, FIATA, ICC, and Swift, has launched the "Declaration of the Electronic Bill of Lading" (eBL) to support the digitalization of international trade. Major carriers like Maersk and MSC committed to eBL adoption earlier, and now shippers will join through the FIT Alliance. The eBL aims to streamline global trade, and if widely adopted, could unlock billions in trade growth while reducing carbon emissions. The goal is to have 100% of bills of lading handled electronically by 2030, despite challenges like interoperability between eBL vendors.

Shippers paying $2.4 million to skip the Panama Canal congestion queue

Shippers are paying as much as $2.4 million per vessel to bypass the congestion in the drought-affected Panama Canal, in addition to the standard transit fee of around $400,000. This extraordinary payment was recently made by an unnamed party to expedite its vessel's passage through the canal, according to Avance Gas Holding Ltd. The Panama Canal Authority conducts auctions for priority passage, with the highest bids usually coming from carriers transporting liquefied petroleum gas or liquefied natural gas (LNG). The queue of ships waiting to use the canal has grown due to drought conditions, resulting in fewer vessels with reduced cargo capacity transiting the canal. Despite the high cost, some shippers opt to pay to skip the queue.

Events

‍‍Sept 7 - COS Board of Directors Meeting @ 1200
Sept 11-13 - Ports Canada Conference - Trois-Rivieres, QC 

Sept 20 - WMCC PACMAR/NANS Meeting @ 10:00 
Sept 20-24 - Fraser Riverfest Activities and Lucille Johnstone Workboat Parade.
Sept 24 - Port of Vancouver celebrates World Maritime Day @ Canada Place @ 1100
Sept 25 - BCIT Marine Campus and Industry Open House, North Vancouver, BC

Sept 28 - World Maritime Day - "MARPOL at 50 - Our commitment goes on." 

Ship of the Week

 

The MSC Nicola Mastro, a 24,000 TEUs container ship, has become the first of its kind to dock at an Italian gateway. The vessel was officially christened in Trieste on September 4th. Its size surpasses all other ships typically seen in Trieste, showcasing the port's operational capabilities and the competitiveness of the "Trieste System" in providing exceptional service. The MSC Nicola Mastro is an Ultra Large Container Vessel (ULCV) and the largest ship ever to arrive at the Trieste port. The Coast Guard and technical nautical services ensured a secure and smooth mooring maneuver for its entry into the Port of Trieste.