InterManager Daily News 18.11.2020.

1. IMO Resolution on Maritime Cyber Risk Management – Compliance date 1 January 2021
Whilst recognising that cyber technologies had become essential to the operation and management of numerous systems critical to the safety and security of shipping and the protection of the marine environment, the IMO acknowledged the vulnerabilities of these technologies to cyber risks and cyber threats.

2. Coping with diabetes at sea
In conjunction with the UN World Diabetes Day, we join the effort to raise awareness among our readers of the risks of the disease, particularly to seafarers and the increased risk during the Covid-19 pandemic. Here is what we can do to minimize risks, save lives and ensure safety at sea.

3. Baltic Exchange launches Air Freight Indices
The Baltic Exchange has today (16 November) launched weekly air freight indices. It has partnered with established Hong Kong based air cargo pricing publisher TAC Index and the new indices include six outbound indices and 13 individual destination baskets. These products will be branded as the Baltic Air Freight Index (BAI) – powered by TAC data. They will come under the governance of Baltic Exchange Information Services Limited (BEISL), with TAC Index acting as the Calculating Agent.

4. INTERCARGO supports IMO in approving GHG measures this week
Ahead of the important International Maritime Organization (IMO) Marine Environment Protection Committee meeting (MEPC 75), which will take place on 16-20 November 2020, INTERCARGO supports the IMO in approving the new mandatory measures that were developed by the 7th session of the Intersessional Working Group on Reduction of Green House Gas Emissions (GHG) from Ships (ISWG-GHG 7) on 19-23 October 2020.

5. ‘Chinese authorities say there needs to be a rates ceiling’: Saadé
In an interview with the Financial Times, Saadé said that Chinese authorities are determined to try and keep a lid on rates, especially on the transpacific, where prices have soared in the last three months. Soaring demand on the tradelane has created acute container shortages that are being felt around the world.

6. Australia sets date to get seafarers back to their pre-Covid-19 contracts
The Australian Maritime Safety Authority (AMSA) has announced that from 28 February 2021 the interim Covid arrangements which have permitted seafarers to serve longer than 11 months onboard ships will end. Seafarers around the world will now be looking at whether other countries will follow suit, putting an official deadline on the crew change crisis that has raged all year.

7. PIL defaults on notes payment
Under pressure Pacific International Lines (PIL) told the Singapore Exchange on Monday it would not pay back S$60m ($44.6m) of notes due yesterday. The SS Teo-led company insisted its planned $600m bailout from Heliconia Capital Management, a unit of Singapore’s sovereign wealth fund was on track.

8. Scorpio Bulkers offloads another five kamsarmaxes for $101.5m
Emanuele Lauro-led Scorpio Bulkers has announced the sale of another five kamsarmax bulkers, and has now sold a total of 13 bulkers since announcing its move into the offshore wind sector in August.
Scorpio has agreed deals with two parties for the 2017-built kamsarmaxes SBI Parapara, SBI Jive, SBI Swing and SBI Mazurka and the 2016-built kamsarmax SBI Reggae.

9. Box Shipping Rates Spike On Container Shortages And Strong Demand
This week, the Shanghai Container Freight Index (SCFI) spot rate index to Europe rose sharply, with Northern Europe rates up 21% and Mediterranean rates up 23% – potentially with more increases ahead, according to Lars Jensen, ceo and of SeaIntelligence Consulting. “This means that both these trades are now at rate levels which have not been seen since early 2014. And more increases might be in store,” Jensen forecast.

10. Congestion At Colombo Port Boosts Transshipment Business At Cochin Port Trust
The congestion at Colombo Port has turned out to be an opportunity for Kochi at least in terms of gaining transshipment business following the diversion of some ships. Of late, the International Container Transshipment Terminal (ICTT) at Vallarpadam has started receiving additional mainline ships on ad hoc basis with transshipment volumes following the diversion of MSC Lines to Kochi. The rising number of Covid cases among port workers in Colombo, has aggravated the existing congestion in that port.


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