1. The UAE Ministry of Energy and Infrastructure signs a strategic agreement with the Arab Academy for Science, Technology and Maritime Transport branch in Sharjah
The Arab Academy for Science Technology and Maritime Transport branch in Sharjah (AASTS) has signed a partnership agreement with the UAE Ministry of Energy and Infrastructure to utilise AASTS’ capabilities and the expertise of its staff to serve and develop the UAE’s maritime sector. The agreement supports AASTS’ vision to enhance the Arab maritime sector by preparing the nation’s youth to be competent industry professionals, while also providing research and development services.
2. AET takes delivery of DP2 shuttle tanker Eagle Pilar
AET, one of the world’s leading petroleum tanker owners and operators, took delivery of Eagle Pilartoday, a new Suezmax second generation Dynamic Positioning (DP2) Shuttle Tanker which has been purpose built for long-term charter to Brazil Shipping I Limited, a wholly owned indirect subsidiary of Royal Dutch Shell plc. https://cyprusshippingnews.com/2021/01/06/aet-takes-delivery-of-dp2-shuttle-tanker-eagle-pilar/
3. Trafigura Group publishes its 2020 Responsibility Report
Trafigura Group, a market leader in the global commodities industry, has today published its 2020 Responsibility Report, reflecting a year of strong progress in improving transparency, engaging openly with a broad range of stakeholders and continuing to take a leadership position in progressing responsibility standards in commodities trading. The report marks the company’s sixth consecutive year of reporting on its environmental, social and governance approach and performance. https://cyprusshippingnews.com/2021/01/06/trafigura-group-publishes-its-2020-responsibility-report/
4. 2020 volatility lifts freight derivative volumes
The freight derivatives markets for both tankers and dry cargo vessels saw increased traded volumes in 2020, according to data released by the Baltic Exchange. Tanker Forward Freight Agreement (FFA) volumes were up 31% on the previous year, reaching 603,261 lots, with a daily record of 33,677 lots achieved on 16 March at a time when Time Charter Equivalent earnings for VLCCs exceeded USD 275,000. https://cyprusshippingnews.com/2021/01/06/2020-volatility-lifts-freight-derivative-volumes/
5. Shipmanagement 2021: Covid and the lost generation of quality crew
By common consent in the 50 years of third party shipmanagement 2020 was the sector’s most challenging period. This year will be spent getting staff and operations back to some form of normalcy with crew welfare topping the agenda of most senior shipmanagers surveyed by Splash for today’s special 2021 preview. https://splash247.com/shipmanagement-2021-covid-and-the-lost-generation-of-quality-crew/
6. Japan’s mega yard joint venture fights to be competitive with Asian rivals
Japan’s mega yard joint venture is underway finally. Imabari Shipbuilding and Japan Marine United – the country’s two biggest shipbuilders – kicked off operations of their combined Nihon Shipyard on January 1, nine months later than planned thanks to Covid-19 and lengthy regulatory approval processes.
7. Scorpio Bulkers to change name to Eneti as it finalises transition to offshore wind
Scorpio announced plans to move into the offshore wind sector in August 2020, signing a letter of intent with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) to construct a wind turbine installation vessel (WTIV). The vessel will cost around $265m-$290m and is scheduled for delivery in 2023. Scorpio also has options for an additional three vessels.
8. Crowley Launches Offshore Wind and LNG Division
U.S.-based Crowley announced the formation a new energy division that will focus on the emerging offshore wind and liquified natural gas sectors in the United States. The division, appropriately named the New Energy division, will operate within the Crowley Shipping business unit, part of 129-year-old Crowley Maritime Corporation. https://gcaptain.com/crowley-launches-offshore-wind-and-lng-division/
9. Baltic Index Gains On Higher Panamax Rates
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday as stronger panamax rates offset a dip in the larger capesize segment. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, was up 7 points, or 0.5% to 1,425, its highest since mid-October last year. https://www.shippingtribune.com/news/shipping/Baltic+index+gains+on+higher+panamax+rates
10. Iran Denies Seized Korean Ship And Crew Are Being Held As Hostages
Iran denied on Tuesday it was using a South Korean ship and its crew as hostages, a day after it seized the tanker in the Gulf while pressing a demand for Seoul to release $7 billion in funds frozen under U.S. sanctions.