InterManager Daily News 01.11.2019

  1. Capesize bulk carrier cocaine bust UPDATE 2 Filipino crew arrested. Oct 30 Update: Two Filipino crew of a Capesize bulk carrier GOLDEN SAVANNAH were arrested for smuggling cocaine into Korea, said Korean police in a statement released on Oct 30. One of them understood to be Chief Officer. Captain reportedly, is accused of cover-up attempt, but understood, he wasn’t involved in criminal plot. Both The ship left Korea on Sep 20, according to AIS history. Both arrested crew members denied charges.
  2. Baltic index flat as lower panamax rates offset capesize gains. The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, remained almost flat on Tuesday as lower rates for panamax vessels offset higher demand for capesizes.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 1 point, or 0.1%, to 1,802.
  3. Oil trader Unipec resumes bookings of COSCO-owned tankers -sources. Chinese oil trader Unipec has restarted using tankers owned by state-owned shipping group COSCO after the United States eased sanctions temporarily on the Chinese state-owned shipping group, trade sources said. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington imposed sanctions on Chinese tanker companies in late September for alleged involvement in moving crude oil from Iran.
  4. Euronav Says Tanker Markets Thinly Balanced. Euronav NV yesterday reported its non-audited financial results for the third quarter of 2019 ended 30 September 2019. Hugo De Stoop, CEO of Euronav said: “Recent freight rates levels are demonstrating that our markets are thinly balanced and that any disruption can have a dramatic impact. Catalysts such as sanctions and geopolitical events may be temporary factors; the market fundamentals and IMO 2020 implications, however, have gradually rebalanced the supply and demand and those factors form a good base for a sustainable cyclical upturn.
  5. Whither the dry bulk shipping recovery? “The recovery is on its way,” proclaimed one analyst, speaking about the dry bulk sector … in 2014. „The trough is now squarely in the rear-view mirror,” said another a half-decade ago. “Prepare for a two-year cycle with earnings likely to peak in 2015.”
  6. Nanotechnology offers pioneering solution to vessel corrosion and biofouling, according to major maritime study. Nanotechnology will play a crucial role in the future management of vessel corrosion and biofouling, according to a major maritime study. Leading European scientists are today releasing details of a study on the potential of ‘Nanotechnology Marine Applications’ as part of the two-year KETmaritime project. The International Iberian Nanotechnology Laboratory (INL) is the lead partner in the €1million initiative backed by the European Regional Development Fund.
  7. Australia’s Viva Energy Launches New Low Sulphur Fuel for IMO 2020. Viva Energy Australia has launched its new very low sulphur fuel oil (VLSFO), developed to meet the International Maritime Organisation’s (IMO) new regulations on fuel sulphur content. Manufactured locally at Viva Energy’s Geelong Refinery, the new VLSFO is the first low sulphur fuel oil to be produced in Australasia.
  8. Stena Estrid Wraps Up Sea Trials in China’s Yellow Sea. Swedish ferry company Stena Line has revealed that Stena Estrid, the first of five vessels being built for a Chinese ferry company, completed its sea trials in China’s Yellow Sea. Following three days of extensive testing, the new vessel “performed excellently across a wide range of stringent test criteria” and is now on schedule to start operating on the Dublin to Holyhead route in early 2020, Stena Line said.
  9. Maersk, Wallenius Wilhelmsen to Lead Development of LEO Fuel. Shipping companies A.P. Moller-Maersk and Wallenius Wilhelmsen have joined forces with Copenhagen University and major clients to form the LEO Coalition which will explore the environmental and financial viability of using lignin ethanol oil (LEO) for shipping. As explained, the industry peers, along with customers including BMW Group, H&M Group, Levi Strauss & Co. and Marks & Spencer, believe that LEO — a blend of lignin and ethanol — could be part of the future solution for sustainable shipping.
  10. Turkey’s Botas Seeks 70 LNG Cargoes For 2020-2023 Delivery – Sources. Turkish state energy company Botas is looking to buy 70 cargoes of liquefied natural gas (LNG) for delivery over 2020-2023, two trade sources said on Tuesday. The tender was issued on Friday, one source said, two days after the United States lifted sanctions against Turkish ministries, including the energy ministry, and senior government officials.

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