The overall index, which factors in rates for capesize, panamax and supramax vessels, lost 65 points, or 2.8%, to 2,229, its lowest since April 14

Rates for the vessels have further eroded into the current week ahead of the holidays, shipbroker Intermodal said in a weekly note dated Tuesday.

The capesize index fell 208 points, or 7.8%, to its lowest since June 8 at 2,455.

Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, decreased by $1,725 to $20,363.

Benchmark Dalian and Singapore iron ore futures fell as concerns over COVID-19 curbs in China and the approaching off-season for construction activity in the world’s biggest steel producer soured sentiment.

The panamax index added 73 points, or 3.2%, to 2,384, ending a 10-session losing streak.

Average daily earnings for panamaxes, which carry 60,000-70,000 tonne coal or grain cargoes, increased by $664 to $21,460.

The supramax index shed 46 points to its lowest in over three weeks at 2,337.

Source: www.marinelink.com

Image: www.pexels.com

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Airseas said it has installed its Seawing system on the vessel Ville de Bordeaux owned and operated by Louis Dreyfus Armateurs. The ship, which is chartered by Airbus to transport major aircraft components between France and the U.S., will deploy the 500-square meter Seawing on its monthly transatlantic journeys from January 2022, conducting six months of sea trials and testing ahead of its full operation.

Airseas has received formal approval from classification society Bureau Veritas to begin operations at sea, following three years of close collaboration on the development and early trials of the Seawing.

According to Airseas, a French company founded in 2016 by former Airbus engineers, its Seawing system combines kite technology with an automated flight control system and can be safely deployed, operated and stored at the push of a button. It can be retrofitted on a ship in two days.

Airseas’ full size Seawing is a 1,000-square-meter parafoil which flies at an altitude of 300 meters, capturing the strength of the wind to propel the vessel. Based on modeling and preliminary testing on land, Airseas estimates that the Seawing system will enable an average 20% reduction in fuel consumption and greenhouse gas emissions, the company said.

Vincent Bernatets, CEO and Co-Founder of Airseas, said, “A decade ago, we embarked on the ambitious project of channeling our unique aviation expertise towards creating a cleaner and more sustainable shipping industry. Today, I am beyond proud to see that vision becoming reality, with our first Seawing ready to make a tangible difference for our planet. This first installation marks a significant milestone not only for Airseas, but also for wind and other renewable propulsion technologies in general. Given the urgency of the climate crisis, the world needs to see a drastic reduction in carbon emissions now. In shipping, we can achieve this by using the full set of tools we have available to us today. Wind propulsion is one of these and will play an essential role in helping shipping achieve its much-needed decarbonization transition.”

Laurent Leblanc, Senior Vice President Technical & Operations at Bureau Veritas Marine & Offshore, said, “This important milestone follows three years of close and fruitful collaboration on the development and early trials of the Seawing, supporting Airseas’ safety-first approach and validating the reliability of the system. As a class society, Bureau Veritas has a key role to play to support safe innovation, and this is why we have developed comprehensive rules on wind propulsion systems earlier this year. At BV, we are dedicated to help the maritime sector navigate the challenges of the energy transition, and we fully believe that wind propulsion technology represents a key opportunity to start decarbonizing the maritime sector immediately.”

Source: www.marinelink.com

Image: www.pexels.com

The post First Ship Fit with ‘Seawing’ Kite Propulsion System appeared first on Cargo News Today.

The step, proposed by the Industry and Trade Ministry, would restrict vessels built outside Russia on the Northern Sea Route that Moscow wants to become a major shipping lane as the Arctic warms at a faster rate than the rest of the world.

The ministry did not immediately respond to a request for comment.

Kommersant reported that the ministry on Nov. 1 drew up a draft list of activities that only Russian-built vessels would be able to undertake on the shipping lane.

The activities included transporting Russian-produced oil, gas, gas condensate, and coal along the route, as well as icebreaking services, hydrotechnical and underwater engineering work, it said.

The draft ban that could enter force on March 1 for most of the activities is opposed by some in government who fear Russian-made vessels and Russian shipyards might not be able to cope with a sudden switch, the paper said.

Russia hopes the shipping lane across its northern flank, which would shorten the distance between China and Europe, will begin year-round shipping in 2022 or 2023.

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