#ChinaRejectP3- The Maritime Executive writes about the fallout of the P3 Alliance rejection, following a protectionist "no" from China's Ministry of Commerce. The efforts of the P3 Alliance was to control approximately 47% of Asian-Euro container business.

Maersk chief executive Nils Andersen said the Chinese decision came as a surprise. Really? Last year, China's flag line, China Ocean Shipping Corporation lost $3.2 billion, and certainly China's protectionist attitudes are not new. The country maintains strict cabotage laws which prohibit foreign flagged vessels from moving cargoes domestically.

In 2013, China was the number one exporter at $2.21 trillion and the number three importer at $1.95 trillion. Last year, its top seven ports handled approximately 117 million containers. China's merchant marine consist of about 2,030 vessels, 206 container ships, and ranks number three in the world for ships owned. For more on this development, click HERE.

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.

Container Market: Asia-Europe volumes continue strongly -Container volumes from Asia to Europe continued their strong growth in April, with the sub-routes to the Western Mediterranean and North Africa showing the largest volume increases of 6%. The latest Container Trade Statistics figures as reported by Lloyds List show that overall Asia-Europe volumes increased in April 5.2% year-on-year to 1.2m teu, meaning that for the first four months of the year, volumes have increase 5.8% year-on-year to reach 4.7m teu.

Dry Bulk Market: Across the board declines -The dry bulk market continues to struggle with its overall lacklustre performance. The Baltic Dry Index (BDI) remained hovering below the 1,000 point mark last week, as the index declined 96 points across the week to finish at 906. All sub-segments saw declines,with the Capesize market losing part of the momentum it had developed over the previous week.

US Ports: New infrastructure and dredging bill signed -The Barack Obama signed into law last week the US Water Resources Reform and Development Act of 2014, a $12.3bn water-projects plan to invest in infrastructure and deepening of US ports to allow for larger ships and reduce costs for exporters. The plan is the first water infrastructure bill since 2007 and authorises 34 projects including dredging, flood control, hurricane recovery and environmental restoration. A key driver it to provide funding for dredging of US ports to allow them to accommodate the larger ships that will soon be traversing the newly-expanded Panama Canal.

For more on each of the above and other stories click the PDF downloadable IMDO Weekly Markets Review (Week 24). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.

#GreenNewbuild – Arklow Beach became the third of six 'B' class 'green' newbuilds launched amidships at the Ferus Smit yard in Westerbroek, the Netherlands for Arklow Shipping's Dutch subsidiary, writes Jehan Ashmore.

The spectacular sideways launch (see photo's) and christening of the 4,800dwt vessel yard No. 111 follows Arklow Bay in March and class leadship Arklow Bank in January. Next month this latest unit of the 119m long newbuilds will be delivered to Arklow Shipping Netherland based in Rotterdam, which will also be her port of registry.

The new series of bulk oriented general cargo ships have 'greener' credentials in that her slender straight-stem hull form coupled by a 'bulb-less' reduces wave resistance.

The design also takes into account the various loading drafts and wave conditions to be encountered in service. In addition the performance of the bow design will be better than an alternative bulb for single-draft and flat-water only transits.

Arklow Beach alongside her sisters will be mainly employed in the shipment of wheat, corn and other bulk commodities within European waters.

#Ports&ShippingReview: Over the last fortnight, Jehan Ashmore has reported on the shipping scene, where the European Commission has approved the P3 Alliance Network involving three major container shipping operators.

At cabinet level, Minister for Transport, Leo Varadkar has secured approval of a new Harbours (Amendment) Bill with important implications for Ireland's vital port sector, where five ports designated as Ports of Regional Significance be transferred to local authorities.

The draft legislation builds upon Minister Varadkar's ongoing reform of the State commercial ports sector announced in last year's launch of the National Ports Policy.

Details of the bill and associated consultation submissions from the ports and representing the maritime sector bodies are also available from the DTTAS website.

www.followthefleet.ie has launched a subsciber survey for its educational website resource designed to bring the world of maritime adventure into the classroom and gain an understanding of the marine industry.

Ardmore Shipping acquires a pair of second-hand 47,500dwt MR product tankers for $23 each from the Japanese yard of Onomichi Dockyard which launched the sisters in 2008.

#ArdmoreAquireTankers - Ardmore Shipping Corporation have acquisition two second-hand 47,500 Dwt MR product tankers built in 2008 at Onomichi Dockyard Co. Ltd., Japan for a purchase price of $23m each.

The vessels are expected to deliver to Ardmore between July and October 2014 and are intended to be employed either in the spot market or on time charters.

Upon delivery, Ardmore's fleet will stand at 24 vessels, with 14 in operation and 10 Eco-design product and chemical tanker newbuildings delivering by the fourth quarter of 2015. The next two newbuildings are scheduled to deliver in November 2014.

Anthony Gurnee, the Company's Chief Executive Officer, commented: "We are pleased to announce the acquisition of these modern MR product tankers at attractive prices. The vessels are Japanese-built and very fuel-efficient, in line with our strategy of acquiring high-quality MRs that we can upgrade to Eco-mod."

Mr. Gurnee continued, "The delivery of these vessels will expand our operating fleet and provide an immediate positive contribution to Ardmore's earnings. By continuing to supplement our newbuilding program with accretive acquisitions of modern, in-the-water vessels, we are capitalizing on the attractive, cash flow-generating opportunities that exist in the near term while also strengthening the Company's ability to benefit from the long-term fundamentals of the product and chemical tanker markets."

Only at the end of last month, Ardmore acquired another tanker for $36m, a 49,997dwt product and chemical vessel built to an Eco-design and from a South Korean yard.

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.

Container Market: Further rate volatility predicted - Container shipping rates have been forecast to remain volatile for the coming months as carriers on Asia-Europe trades benefit from superior capacity management than on Transpacific and intra-Asia lanes, which continue to suffer from vessel cascading. The Shanghai Containerised Freight Index (SCFI) has continued to decline on Asia-Europe trades of late, however HSBC's latest Transport Indicator forecasts Asia-Europe freight rates will remain relatively high while Trans-pacific spot rates will struggle despite attempts from Transpacific Stabilization Agreement (TSA) lines to enforce General Rate Increases (GRI).

Product Market: Dramatic changes to Atlantic sector - Last year the transatlantic product tanker market saw positivity and strong earnings between $15,000-$20,000 a day, spurring a surge of new orders as optimism grew according to Clarksons Research Ltd. However at the moment MR product tanker earnings are between $4,000-$8,000 with year-to-date earnings averaging $8,0000-$14,000 a day. The market sea-change is attributed to the near-demise of Europe's refining industry, once the dominant region in the product sector, coupled with the resurgence of US refining due to their domestic shale boom.

Short Sea Market: Weekly update -The European Short Sea Bulk market experienced flat to soft activity last week according to H.C. Shipping & Chartering's latest report, in a replica vein to the recent period of sluggishness. Activity was said to be patchy with the current supply/demand imbalance becoming increasingly acute with an abundance spot tonnage and owners keen for whatever cargoes they can cover.

For more on each of the above and other stories click the PDF downloadable IMDO Weekly Markets Review (Week 23). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.

#FollowTheFleet-  www.followthefleet.ie is an educational resource designed to bring the world of maritime adventure into the classroom.

The website which is devised by the Irish Maritime Development Office (IMDO), is a simple and effective way for schoolchildren to gain an understanding of the major contribution the maritime industry makes to day-to-day life in Ireland.

The site is an online resource that can be integrated into the SESE curriculum and covers aspects of science, history, geography and trade based on the maritime industry.

www.followthefleet.ie uses a unique satellite tracker system, six easy to follow lesson plans, downloadable teaching plans and regular reports from the captains and crews of Irish owned or operated vessels.

Currently there is an undergoing process of redesigning the existing website. As a subscriber and user of the site, your opinion of www.followthefleet.ie is vitally important to the success and development of the education programme.

An online survey is available to help understand the interaction between users and www.followthefleet.ie

If you could take a moment to fill in the anonymous questionnaire to aid with the research, the survey is accessible here.

The Follow the Fleet team thank you for your continued participation and support of the www.followthefleet.ie programme.

#ECapproveP3Alliance- The P3 Alliance Network, as previously reported on Afloat.ie, which is formed by three major container shipping operators have been informed by the European Commission that it will not open anti-trust proceedings, allowing the shipping alliance to remain compliant with EU competition law.

CMA CGM, Maersk Line (see giantship) and Mediterranean Shipping Company (MSC) announced in June 2013 their intention to establish a long term operational vessel sharing agreement called the P3 Network.

Yesterday's decision of the proposed alliance is subject to regulatory review in jurisdictions in North American, Europe and Asia. For more Seatrade-Global has a report.

#WeighingContainers –The European Sea Ports Organisation (ESPO) has welcomed recent decision of IMO's Maritime Safety Committee (MSC) by which it is the shipper's responsibility to submit the verified gross weight of containers before loading onto the ships.

The verification of the containers' weight can indeed play an important role in enhancing safety in maritime transport and the whole transport chain. Ports confirm that misdeclarations of container weight occur and entail safety risks.

ESPO hopes however that the implementation of this new amendment to the Safety of Life at Sea (SOLAS) Regulation in EU and/or national legislation, further clarifies the shippers' responsibility and avoids that in the end this responsibility is transferred to ports and terminal operators. The weighing should take place before entering the port area, and preferably by the shippers at the place of origin.

"We do recognise the importance of knowing the exact weight of containers not only for maritime transport but throughout the whole transport chain. We should look for the most practical solution for all players in the transport chain. But we should at all times avoid that this weighing operation burdens the handling activities in the port and increases the congestion in the port. This could happen if mis-declared container weights are only being detected at a late stage, in the port or port terminal area", said ESPO's Secretary General, Isabelle Ryckbost.

On its 93rd session last month, the IMO's MSC approved the amendment of SOLAS Regulation VI-2 regarding Mandatory Weighing of Gross Mass of Containers before loading onto ships. The committee also adopted relevant guidelines regarding the verified gross mass of a container carrying cargo.

The amended rule requires shippers to submit verified gross weight of containers before loading onto ships and sufficiently in advance to be used in the preparation of the ship stowage plan. Without such document, relevant export containers shall not be loaded onto ships.

The amendment and its guidelines will be effective by July 2016, subject of final adoption by MSC 94th session in November 2014.

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.

Container Market: African upsizing -The upsizing of vessels on African trades continues strongly accordingly to Clarksons Research Limited supported by robust growth in trade volumes and despite a variety of infrastructure challenges. A number of services to West Africa have been reorganised and now Panamaxes and 4,500 TEU 'Wafmaxes' (the largest geared containerships in world) are regularly being deployed instead of 2-3,000 TEU geared vessels.

World Fleet: Misplaced optimism regarding overcapacity -The growing optimism regarding the perceived improvement of the supply-demand balance is overplayed according to a report by Danish Ship Finance (DSF). DSF contend that whilst several major shipping segments, particularly the crude and dry-bulk sectors, have benefitted from an improved supply-demand balance, overcapacity remains a systemic issue not merely, "temporary spikes, driven by regional imbalances and inventory changes". Seaborne trade volumes increased 2.8% in 2013, against world fleet growth of 3.7%, resulting in fleet utilisation of just 83% according to DSF.

Marine Fuels: New fuel development from wood residues - Researchers at Britain's Aston University claim to be developing a marine fuel using waste from the Norwegian forestry industry, with the potential for the large-scale production of a "completely sustainable" biofuel by 2020. The ReShip Project aims to process low-quality wood waste and chips into crude pyrolysis oil, by heating the material without exposing it to oxygen.

For more on each of the above and other stories click the PDF downloadable IMDO Weekly Markets Review (Week 22). In addition to coverage on Afloat.ie's dedicated Ports & Shipping News section.