1. Fast-Track business activation policy in Cyprus
A Fast-Track Business Activation policy has been recently implemented by the Cyprus Government aiming to support companies wishing to set-up or further expand their operations in Cyprus. Under this new policy, eligible companies can enjoy an accelerated procedure for the incorporation, as well as the registration with relevant public bodies required for the company’s operations. https://cyprusshippingnews.com/2021/01/18/fast-track-business-activation-policy-in-cyprus/
2. Baltic Dry Index as of January 15
On 15 January 2021, the Baltic Dry Index fell to 1,754 points, down 38 points (-2.12%) versus the level of January 14.
BDI is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides “an assessment of the price of moving the major raw materials by sea. https://cyprusshippingnews.com/2021/01/18/baltic-dry-index-as-of-january-15/
3. The Arab Academy for Science, Technology and Maritime Transport in Sharjah discusses cooperation with the UAE Ministry of Climate Change and Environment
The Arab Academy for Science, Technology and Maritime Transport Branch in Sharjah (AASTS) has discussed prospects for cooperation and collaboration with the UAE Ministry of Climate Change and Environment. This includes employing AASTS’ capabilities and the expertise of its staff to protect the environment and curb marine activities that are causing climate change. Cooperation also includes protecting and maintaining the ecological balance in the Arabian Gulf and the Gulf of Oman, which the UAE overlooks.
4. NYK President Speaks at the CDP 2020 A-List Company Awards
On January 14, NYK president Hitoshi Nagasawa gave a speech at the CDP 2020 A-List Company Awards. The awards ceremony was held for Japanese companies that had been selected as A-list winners in the categories of “Climate Change,” “Water Security,” and “Forests” by CDP,* an international environmental non-profit organization. https://cyprusshippingnews.com/2021/01/18/nyk-president-speaks-at-the-cdp-2020-a-list-company-awards/
5. Dire start to the year for crude tankers
Crude tankers have started 2021 in terrible fashion with no traditional winter warm-up in rates. New York-based tanker broker Poten & Partners warned in a new report VLCCs, suezmaxes and aframaxes are showing negative time charter equivalents (TCEs) on one or more of the benchmark routes.
6. Canada joins Australia in committing to get overworked crews home
Transport Canada has issued a notice that it intends to finally enforce the Maritime Labour Convention provisions on duration of contract and repatriation. This means that if a seafarer has completed 11 months onboard, he or she has the right to get off and be repatriated at the owner’s cost.
7. Polaris completes clear-out of controversial converted ore carrier fleet
Cash buyer Best Oasis reports that the Stellar Pioneer and Stellar Topaz, both of which started trading as VLCCs in 1994, have been sold as is in Malaysia. Late last month Seoul-based Polaris also sold the 1993-built Stellar Neptune to Bangladeshi recyclers as it completes its offloading of converted ore carriers.
8. U.S. Plans to Sanction ‘Fortuna’ Vessel Doing Nord Stream 2 Work -Report
The United States has told European allies it plans to impose sanctions on a Russian pipe-laying ship, “Fortuna”, involved in construction of the Nord Stream 2 gas pipeline from Russia to Germany, German business daily Handelsblatt reported on Monday.
9. China’s Economy Ends 2020 Upbeat After COVID-19 Shock
China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and remained poised to expand further this year even as the global pandemic rages unabated.
10. Russia Prepares Earliest-Ever Arctic LNG Transit to Asia
Russia is preparing to make the earliest-ever shipment of liquefied natural gas to Asia, taking advantage of thinning ice in the Arctic Ocean and paving the way for a record-long navigation season this year. https://gcaptain.com/russia-prepares-earliest-ever-arctic-lng-shipment-to-asia/