The UK government is supporting wind assistance on bulk carriers through Clean Maritime Demonstration Competition Round 4 (CMDC4) grants, but the demand outlook for building steel in China, and the global grains trade looks weak
Victoria Steamship agency to support Anemoi Marine Technologies in CMDC4 project
In 2018, ship broker and insurance agents Victoria Steamship Co assisted in the installation of Anemoi’s first Rotor Sail system on board Blue Planet Shipping’s 64,000-dwt Ultramax dry bulk carrier Afros.
With experience gained, Victoria Steamship Co is set to support Anemoi Marine Technologies with the development and testing of a new 3.5 m diameter x 24.5 m high Rotor Sail after Anemoi was awarded a grant from the Clean Maritime Demonstration Competition.
This project is part of the £206M (US$260) CMDC4, funded by the UK Department for Transport and delivered by Innovate UK.
Blue Planet Shipping managing director Nikolas C Apodiacos said projects such as these are “a symbol of our collective dedication to combating global warming. We are not passive participants in this fight. We are leaders, pioneers and advocates for a future where environmental consciousness is at the forefront of maritime endeavours.”
Carisbrooke Shipping in 20-m AirWind project supported by CMDC4
In another CMDC4 project, GT Green Technologies, in collaboration with Carisbrooke Shipping and The University of Bristol, has been awarded a £3.7M (US$4.7M) grant under the Clean Maritime Demonstration Competition Round 4 to install a 20-m AirWing unit on a Carisbrooke Shipping vessel in the UK.
Bulk shipping blinks as China’s real estate shrinks
BIMCO shipping analyst Filipe Gouveia highlighted the importance of the Chinese property market as a driver of the bulk shipping sector in a new report.
In the BIMCO paper, Mr Gouveia noted, “China’s property market is estimated to account for approximately 35% of the country’s steel demand. It is an important driver for economic growth and raw materials like iron ore, coking coal, wood and cement. Overall, the Chinese economy is a significant driver of dry bulk and more than 35% of dry bulk volumes are destined for China.”
However, a Hong Kong court has mandated the liquidation of China Evergrande Group, one of the largest real estate developers, said to have debts of S$300Bn.
This development could further erode investor confidence and worsen the outlook for China’s real estate sector, which declined in 2023 by 17%, even as the economy grew.
International Grains Council meeting in New Orleans: global trade in grains retreating
The 59th session of the International Grains Council took place in New Orleans in January 2024 and assessed the outlook for biofuels derived from grains, oilseeds and other agricultural products.
Aggregate grains production totalled a record 2,307M tonnes in 2023/24, a 2% increase year-on-year but world trade is forecast to retreat by 3% year-on-year to 415M tonnes.
Global soyabean production in 2023/24 reached a record of 392M tonnes a 6% year-on-year gain and world trade was predicted to retreat by 2% year-on-year to 168M tonnes.
Global rice output in 2023/24 was predicted to decline by 1% year-on-year to 511M tonnes and trade was projected to contract by 2% in 2024.
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