COS Weekly Newsletter - Friday, 03 January 2020

 
 
 

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          COS Weekly Newsletter
          Friday, 03 January 2020

 
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Local News

 

Chamber of Shipping urges Canada to heed caution when outsourcing marine risk management

The Chamber of Shipping has released a blog post urging Canadian decision-makers to use caution when outsourcing marine risk management. Canada’s marine safety framework does not have a common national understanding of risk principles, risk tolerance, or application of risk mitigation measures and Canada currently has a complex multi-jurisdictional approach to marine safety. In the absence of a single clear authority, major project proponents that require ships to move their product are establishing their own standards, which is typically in excess of recognized industry practices and national regulatory requirements. This is especially true for marine carriers of oil, gas, and chemical products.
 
Moving forward with the Oceans Protection Plan, the Federal Government should refocus its effort on governance, the re-establishment of a single marine authority, the integration of programmes between Federal departments, and ensuring that Federal departments have sufficient technical expertise to execute their responsibilities. Click here to read our blog post.

 


Government

 

Divestment of Ridley Terminals Inc. Closes

The Canada Development Investment Corporation has announced that the divestment of Ridley Terminals Inc. (RTI) has been completed. Based on an agreement reached in July 2019, Canada has now sold 90 per cent of its shares in RTI to a company owned by Riverstone Holdings and AMCI Group for $350 million. The remaining 10 per cent of Canada’s shares has been transferred to a limited partnership owned by the Lax Kw’alaams Band and the Metlakatla First Nation. CDEV managed the sale process as agent for Canada.
 

Canadian emissions projections show progress towards climate target

The Government of Canada has released the annual greenhouse gas emissions projections. The analysis shows that in 2030, Canada’s emissions are projected to be 227 million tonnes (Mt) below what was projected in 2015. This is a historic level of emissions reductions. Policies and measures now in place, including those introduced in the last year, are projected to achieve a level of emissions 28 million tonnes lower by 2030 than last year’s projections.
 

 


US News

 

US Coast Guard issues notice on 2020 minimum drug testing

The US Coast Guard issued a notice stating that the calendar year 2020 minimum drug testing rate for covered crew members will be 50%.  Read the full article here: https://www.govinfo.gov/content/pkg/FR-2019-12-27/pdf/2019-27896.pdf
 
 

Trump Administration extends COSCO tanker unit waiver

The Trump administration has renewed a waiver for companies to wind down transactions with the Dalian unit of COSCO, which it had imposed sanctions in September for allegedly transporting Iranian oil. The waiver, good until Feb. 4, 2020, allows activities and transactions “ordinarily incident and necessary to the maintenance or wind down of transactions” including offloading of non-Iranian crude oil.
 

 


International News

 

India works to improve ship recycling image

India is seeking to improve its global reputation as one of the world’s top ship dismantling nations by upgrading its safety and environmental track records. They have just passed the Recycling of Ships Bill, 2019. The new act restricts and prohibits the use or installation of hazardous materials, which applies irrespective of whether a ship is meant for recycling or not. For new ships, the prohibition on the use of hazardous materials will be immediate, while existing ships shall have a period of five years for compliance. The restriction would not be applied to warships and non-commercial ships operated by the government.
 

Scrubbers and IMO 2020 - payback looking good for now

Based on current estimates, the price of using scrubbers is looking favourable for owners. Prices published by Ship & Bunker show IFO380 at $331 per tonne in Singapore while VLSFO is priced at $644 per tonne, a significant $313 per tonne spread. The situation in Rotterdam is similar, with IFO380 at $272.50 per tonne and VLSFO at $569 per tonne – a $269.50 spread, and in Fujairah IFO380 at $299 per tonne and VLSFO at $688 per tonne – a spread of $389 per tonne.
 

 


Upcoming Events

 

Dec 25 -  Office Closed - Christmas Day

Dec 26 -  Office Closed - Boxing Day

Jan. 9 -   VMAA Board of Directors Meeting

Jan. 15 - ICS Board Meeting

Jan. 20 - COS Board of Directors Governance Meeting

Jan. 21 - ISSC Board of Directors Meeting

Jan. 23 - Liner Committee Meeting

Jan. 29 - PACMAR / NANs Committee Meeting

Jan. 30 - Winter 2020 OPP Dialogue Forum

Feb. 4 -  Cargo Logistics Canada Conference

Feb. 11 - VGE Board Meeting

 


Ship of the Week

 

JANUARY 3, 2020 – MAERSK LAUNCHER

The Maersk Launcher is a special ship designed to clean the oceans. After sailing from San Francisco, it recently harvested its first plastic from the Great Pacific Garbage Patch.
 
GT:       6798
Length:     90m
Beam:       23m
Built:     2010

 

 

 

 
 
   
 
 

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