Weekly Drycargo Shipping Technical Anaysis - Weekly Closing/Fixing (Thursday). 902

Fortesque (FMG) Aussie the nr4 in the world iron ore producer, has signed a contract to construct four VLOC of 260,000 mts dwt each with Chinese shipyard, worth totally usd 275 million. Their total capacity represents 6 pct of miner's exports per annum. We are in position to know that also Rio Tinto and BHP also negod similar kind of newbuildings with Chinese shipyards, with equity participation of Chinese Govermental Financial Institutions.

European Co-Ordination of Member-States at IMO

The European Commission and more recently the EU, have proposed in the past that they should become Members of the IMO. Faced by opposition from Member States and legal constraints to their accession, the issue has abated but not gone away.

Revision of The Schengen Visa Code

On 1st April, 2014, the European Commission published its long-awaited proposal for a revision of the Schengen Visa Code. Some of the new measures the European Commission proposes will go a long way towards removing administrative burdens and facilitating the entry of seafarers into the Schengen area. This is certainly the case for the new provisions extending the validity period of multiple-entry visas, shortening the time period to process applications, and eliminating existing requirements to lodge them in person.

Directive on Reporting Formalities For Ships Arriving At Or Departing From EU Ports

From 19th May, 2012, the new EU Directive 2010/65/EU on reporting formalities, applicable to ships arriving at, or departing from, ports in the European Union, superseded Directive 2002/6/EC. The purpose is to simplify and harmonise the administrative procedures in maritime transport by standardising the electronic transmission of information and by rationalising reporting formalities. It targets the national maritime authorities of the Member States who will be obliged to accept all Facilitation of International Maritime Traffic (FAL) forms for the fulfilment of reporting. They also have to accept electronic reports and their transmission via a single window no later than the 1st of June 2015.

EU Directives on Maritime Labour Convention, 2006 (MLC)

The EU Directive (the Directive for the enforcement of the MLC through Port State Control) entered into force on 20th August, 2013, and ships have not reported any problems encountered as of yet.

Lloyd's Register-Fairplay: Fleet Statistics

The World Fleet

According to Lloyd's Register-Fairplay data, as of March 2014, the world fleet of self-propelled, sea-going merchant ships, greater than 1,000 gross tons (GT), stood at 52,001 ships of 1,311,906,161 gross tons, including 5,344 ships, of 196,795,247 gross tons, on order.