InterManager Daily News 03.06.2020.

1. Italian tanker disabled in Arabian sea
Product tanker GHETTY BOTTIGLIERI suffered engine failure on May 23 in Arabian sea while en route from Amsterdam to Singapore with ETA Jun 2, according to AIS. Salvage company was contracted, tanker understood to be taken on tow by tug GLADIATOR early Jun 1, port of destination unknown.

2. Oil Tankers Queuing Off Chinese Coast Evidence of Rapid Rebound
Two dozen or more crude-laden tankers are waiting to discharge at terminals on China’s east coast that supply state-owned and independent refiners in the region, according shipbrokers and vessel-tracking data. Asia’s largest economy is leading a recovery in oil consumption, with demand in May almost back to levels seen before the coronavirus triggered stay-at-home orders.

3. Subsea 7 to Slash Global Workforce by 25%
As previously indicated, these cost reduction measures are expected to deliver approximately $400 million in annualized cash savings from the second quarter 2021. In addition, capital expenditures will be reduced to minimal levels in 2021 and 2022.

4. Uncertainty About OPEC+ Cuts Has Oil Struggling to Sustain Rally
OPEC+ and its allies will decide as soon as this week whether or not to extend their historic output curbs, yet how long and to what extent global production curtailments remain in place will be crucial to sustaining crude’s rally after a record rebound last month.

5. Panama-Flagged Ships Face Fine for Tampering with Tracking Systems
Panama’s Maritime Authority said it will impose sanctions on vessels, including fines of up to $10,000 and withdrawing its flag from the ship, if they deliberately deactivate, tamper or alter the operation of their tracking transponders.

6. Qatar Launches Largest LNG Shipbuilding Program in History at Korean Yards
Under the agreement, Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) will reserve a majority portion of their LNG shipbuilding capacity for Qatar Petroleum through 2027.

7. Indian Seafarers Lost 2,520 Jobs On Ships Due To Covid Induced Restrictions On Crew Change
Indian seafarers lost some 2,520 jobs on board ships between March 23 and May 30 as the lockdown restrictions imposed by the government to slow the spread of coronavirus derailed crew change plans both in India and overseas.

8. Global Shipping Industry Continues To Face Disruptions Due To Coronavirus
Carrying 90 percent of international trade, the shipping industry is the warhorse of the global economy. Unfortunately, the industry has had to face major disruptions due to restrictions and lockdowns imposed following the coronavirus outbreak and the resultant fall in activities, both economically and commercially.

9. HFO: End Of An Era
Since the 1960’s, Heavy Fuel Oil (HFO) has been the king of shipping fuels. A byproduct of crude oil, HFO expels 35,000 ppm into the environment and accounts for 8% of the sulfuric dioxide in the air. The arrival of the IMO 2020 fuel regulation in 2019 signaled a formal move toward alternatives to HFO like biodiesel, hydrogen, methanol, and even battery-powered ships. While each of these has been pursued incrementally in the past, the breadth and urgency of a regulated shift is changing the dynamic.

10. India’s Coal Imports Slump As Economy Lockdown Bites
India’s imports of coal collapsed to the weakest in at least five years in May, as the economic lockdown in the world’s second-biggest importer of the polluting fuel took its toll.’s+coal+imports+slump+as+economy+lockdown+bites


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