InterManager Daily News 13.10.2020.

1. Chinese state fund injects $447m into SinoOcean to promote the sale of idle offshore assets
SinoOcean, an idle offshore assets management platform set up by major Chinese state-run offshore builders, has entered into a partnership agreement China Structural Reform Fund Corporation (CSRF) to accelerate the disposal of idle offshore assets.

2. Hyundai Mipo wins Nigerian LPG orders
In the LPG sector, West Africa Gas, a joint venture between Nigerian National Petroleum Co (NNPC) and Ocean Bed Trading, has placed an order at Hyundai Mipo Dockyard for two 23,000 cu m fully refrigerated LPG carriers.

3. Boxship runs aground in Vietnam en route to scrapyard
According to cash buyer NKD Maritime, the new owner of the CMA CGM ship, the vessel was under tow at the time of the incident and no crew were onboard. All crew from the towage vessel are well and accounted for.

4. Hurricane Delta’s Winds Topple Gear, Disrupt U.S. Oil Refineries
Nearly 700,000 homes and businesses in three Gulf Coast states were without power on Saturday after Delta made landfall overnight as a Category 2 hurricane with winds of 100 miles per hour (161 kph) near the town of Creole, Louisiana.

5. Virus Outbreak Halts Shipbuilding at Norwegian Yard
Officials have extended the temporary closure of the Havyard shipyard in Leirvik, Norway until at least October 19 after more workers tested positive for COVID-19. All shipyard activities were originally closed on September 30 after four people tested positive for the virus. On October 2, Havyard said 17 people had been diagnosed with the virus out of 200 tested.

6. Tanker owners pin hopes on storage uptick in oversupplied market
The fourth quarter has traditionally been referred to as the strongest quarter for freight markets, with factors such as winter heating needs in the northern hemisphere and agricultural exports following harvests in key regions, coupled with bad weather and ice tying tonnage up.

7. Korean shipyards may see a flurry of new orders on favorable FX rate
South Korean shipbuilders grappling with dwindling orders may see a flurry of new ship orders from shipowners later this year thanks to the strengthening Korean currency against the U.S. dollar that could hasten their ship purchase before Korean won-based vessel prices rise further.

8. India: Major Ports’ Cargo Traffic Falls For 6th Straight Month In Sep; Logs 14% Drop In H1 FY21
Hit by the COVID-19 pandemic, India”s top 12 ports continue to witness considerable decline in cargo traffic registering a 14 per cent dip in the first half of the current fiscal to 298.55 million tonnes (MT), according to ports” apex body IPA.’+cargo+traffic+falls+for+6th+straight+month+in+Sep%3B+logs+14%25+drop+in+H1+FY21

9. Shipping Demand Recovering But COVID To Have Long-Term Effect -Hapag-Lloyd
German container shipping firm Hapag-Lloyd is benefitting from a rebound in transport demand but its chief executive warned about the longer-term impact on economic activity from the coronavirus.

10. Global Cooperation Necessary To Digitalise Shipping Industry And Enhance Global Trade
Digitalising the shipping industry can enhance global trade, but it will require stakeholders around the world to cooperate, said Senior Minister of State for Transport and Foreign Affairs Chee Hong Tat.


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