Page 4 - Al-Rashed Newsletter Sept 19

SHIPPING WORLD
SHIPPING NEWS

Shipping lines 'at mercy of forwarders' who won't commit, with blank sailings
likely to continue
Shanghai Containerized Freight Index (SCFI) saw container spot rates tumble
across the board, resulting in the SCFI comprehensive index losing a further
4.1 percentage points to 734, which is some 18% below the level of a year ago. The
two major tradelanes, Asia – Europe, and the transpacific, both suffered rate
declines due to negative market fundamentals, as a very disappointing third quarter
draws to a close for ocean carriers. Spot rates to North Europe, as recorded by the
SCFI, fell by an additional 5.2% on the week to $639 per teu and are set to slide
again next week as many carriers are forced to discount their rates in the scramble
for cargo. In addition to the raft of blanked sailings to North Europe already
announced by carriers to mitigate the expected soft demand following the Chinese
Golden Week holiday in the first week of October, concerns are also emerging that
the pre-shut down week will also disappoint.

Worker Crushed By Shipping Container In Front Of Colleagues
A man has been killed in Sydney's south-east after being crushed between two
shipping containers at a worksite in Port Botany. Emergency services were called to
a shipping container yard just before 10:30 am on Wednesday where they found a
man in a critical condition with traumatic injuries to his whole body.Bystanders and
shocked witnesses rushed to give the man CPR until specialist paramedics arrived
to take over, but sadly he could not be saved. NSW Ambulance Inspector Darren
Hull said a chaplain was called to the worksite to comfort workers and
witnesses."Paramedics are being supported through an official debrief because it
was such a traumatic job," Hull said.A second man was later transported to hospital
for "severe shock".Hull said the man was one of the witnesses who administered
CPR."A lot of his friends [were] around, distraught, and also trying to perform CPR
on him so it was very traumatic for them," Hull said.

World's Largest LNG-Powered Container Ship Launched
CMA CGM has launched world's largest container ship powered by LNG.The 23,000
TEUs French-flagged CMA CGM Jacques Saade was built at Shanghai Jiangnan-
Changxing Shipyard in China.Rodolphe Saadé, Chairman and Chief Executive
Officer of the CMA CGM Group, announced his decision to order a series of nine
23,000-TEU container ships that would be the world’s first ever to be powered by
LNG in 2017. The new vessels will join the Group's fleet in 2020 on the French Asia
Line (Asia-Northern Europe).The nine newbuilds will feature a state-of-the-art bridge
design, the world’s first to deliver four major innovations to assist the Captain and
crew:
a tactical display offering enhanced map views for more dynamic navigation
briefings
a path prediction system optimized to display the ship’s predicted position in the
next three minutes
a smart eye system projecting a bird’s-eye view of the ship’s surrounding area
augmented reality screens offering the crew precise information on the ship's rate
of rotation, distance from the wharf and transverse speeds.

Source: Loadstar, Maritime-Executive, 10Daily.au