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Around the SHIPPING WORLD in 1 minute as on 20th September 2023

Around the SHIPPING WORLD in 1 minute as on 20th September 2023

(1) Tragedy Strikes at Bangladesh Shipbreaking Yard as Guard Falls from Ship

A heartbreaking incident unfolded at the NB Steel Shipbreaking Yard in Sitakunda, Chattogram. Nizam Uddin, a 33-year-old security guard from Mirsharai, tragically lost his life in a fall from a ship while on duty. The accident occurred during the early hours of the morning as Nizam was preparing to leave for home after his night shift. Despite immediate medical attention at Chittagong Medical College Hospital (CMCH), he succumbed to his injuries.

Mazaharul Islam, the manager of NB Steel Shipbreaking Yard, expressed deep sorrow over the incident. He explained that Nizam sustained severe injuries while disembarking from the ship, and despite their best efforts, they couldn’t save him. The yard has informed the relevant authorities and pledged to provide appropriate compensation to Nizam’s grieving family.

India abolishing cabotage laws to boost coastal shipping

(2) Container Shipping Lines Struggle with Soaring Fuel Costs

Container shipping lines are facing a significant challenge as global freight rates decline and fuel costs spike. The price of low-sulphur fuel (VLSFO) sourced from Rotterdam, an industry standard, surged by $8 per ton on Friday, reaching $643. This marks a 22% increase since the end of June. While carriers have mechanisms to adjust bunker surcharges paid by shippers based on fuel costs, some lines have refrained from increasing charges during the recent period of heavy discounts.

In addition, oil prices are on the rise, touching $90 a barrel, with December Brent Crude trading around $95. This surge is attributed to OPEC’s decision to extend supply cuts until the end of the year, impacting the financials of shipping companies, especially those already grappling with second-quarter losses.

Major Railway and Port Agreement to be Signed by India, the US, and Saudi Arabia

(3) Ukraine’s Grain Exports Defy Challenges

Ukraine has taken bold steps to secure export routes for its vital grain industry, even in the face of Russian naval aggression and disputes with allies like Poland. A ship named the Resilient Africa, loaded with 3,000 metric tons of wheat, successfully crossed into Romanian waters from the Ukrainian port of Chornomorsk. This achievement is significant as it establishes a new Black Sea route amid ongoing disputes about overland grain exports with neighboring European Union countries.

(4) Tragedy Strikes at Paradip Port: 3 Missing in Boat Capsizing

A tragic incident occurred at Paradip port in Jagatsinghpur, Odisha, as a boat capsized, leaving three individuals missing. Efforts are underway to locate them. According to Jagatsinghpur SP Rahul PR, there were eight people on the boat, and five were rescued while three remain unaccounted for. The boat had overturned after hitting a sandbar as the fishermen were returning to the coast after a two-day fishing trip in the sea.

A joint rescue operation involving the Coast Guard, Marine Police, Paradip Port Authority, and CISF was swiftly launched upon receiving news of the capsized boat. An Indian Coast Guard helicopter is also aiding in the search operation. Boat owner Purendra Biswal mentioned that they had repeatedly requested the administration to clear the sandbar near the beach, but their pleas went unanswered, ultimately leading to this tragic incident.

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