InterManager Daily News 10.11.2020.

1. Signatories of the Sea Cargo Charter account for 11% of all spot tanker fixtures this year
Signatories to the brand new charter have agreed a common approach to measuring the carbon emissions of each laden and ballast voyage, which when combined will provide an accurate figure of each signatory’s total annual CO2 emissions. These emissions will then be benchmarked against the IMO’s target to halve carbon pollution from 2008 levels by 2050.

2. Modi expands shipping ministry
“It is being expanded. In developed economies, in most places, the shipping ministry also takes care of ports and waterways. In India, the shipping ministry does a lot of work related to port and waterways. Clarity in name will also bring about clarity in work,” Modi said while inaugurating a new ropax ferry service on the country’s west coast.

3. The China – EU rail network and the US election
It may well be asked what the two things in the headline above have in common. Simply put, they both are shrouded in claims of deception, fraud and fake news. This article will refrain from engaging in the current flavour of the day in dissecting the claims and counter claims emanating out of the US election.

4. Heerema closes Angola joint ventures
According to the company, the ongoing poor market conditions and sustained low oil price made its Angola joint ventures no longer economically viable, and it has concluded that the closure of Heerema Porto Amboim (HPA) and Heerema Marine – Sociedade Angolana de Transportes (HMT) is the appropriate option.

5. Top House Democrat Calls US Navy Budget ‘Recipe For A Very Dangerous Cold War’
After winning support from scores of prominent Republicans during his campaign, Joe Biden will take office with the possibility of unprecedented bipartisan backing on national security as he moves to restore traditional policy toward America’s allies and its adversaries.

6. China October iron ore imports dip 1.7% m/m
China’s iron ore imports slipped 1.7% in October from a month earlier, but still hovered well above 100 million tonnes, official customs data showed on Saturday, propped up by firm demand at Chinese mills and shipments from major miners.

7. Scorpio Tankers bullish amid aging global fleet, refinery closures
Tanker shipping company Scorpio Tankers is optimistic for 2021, highlighting its young fleet as well-positioned amid mature global tonnage and product transportation opportunities resulting from refinery closures.

8. Q3 recovery in steel demand better than expected
Many nations witnessed an unprecedented drop in steel demand, in the second quarter of 2020, at the height of the first wave of coronavirus infections. During this time, several individual country PMI readings fell to the lowest levels ever recorded. The most severe drop was in the IHS Markit India Manufacturing PMI which fell to just 27.4 in April. However, in the third quarter, global steel demand improved, as manufacturing activity resumed, with the lifting of restrictions.

9. International Seaways Capitalizes On Strong Period Tanker Market, Despite Q4 Destocking
Crude and products tanker company International Seaways posted a solid third-quarter net income of $14 million compared to a net loss of $11 million during Q3 2019, as the company continued to benefit from strong VLCC time charter contract coverage concluded during March through May, when pandemic oil market economics prompted significant demand for floating storage.

10. The Foul-Smelling Fuel That Could Power Big Ships
An enormous engine, the height of three floors, growls loudly at a test centre in Copenhagen. Nearby a team of engineers supervise it from a control room resembling a ship’s bridge. Usually such an engine would be propelling a large ship across the sea, but this one is being prepared to take part in a ground-breaking project.


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