1. Remote surveys are the new reality – but we will meet again
Once again, shipping has turned adversity into advantage. Faced with the devastating effects of a pandemic, the maritime community has responded with what I have called a renaissance for shipping, driven by broad adoption of digital solutions to enhance safety, sustainability and efficiency. Remote surveying, already booming pre-Covid, has shown perhaps the sharpest spike in demand among digital services. https://splash247.com/remote-surveys-are-the-new-reality-but-we-will-meet-again/
2. Another record year of offshore wind farm investments on the
Wind farm investments are set for another record-breaking year of investments, according to a new report from Clarksons Research, which highlights some staggering numbers in the booming sector. For the first time, capex committed in offshore renewables overtook offshore oil and gas last year – $51bn versus $41bn. https://splash247.com/another-record-year-of-offshore-wind-farm-investments-on-the-cards/
3. MOL establishes offshore wind division
Further changes are afoot at Mitsui OSK Lines (MOL), Japan’s largest shipowner by fleet size. In addition to the creation of MOL Drybulk, which will house all MOL’s smaller bulk carriers at the start of the next financial year on April 1, MOL is upping its focus on offshore wind. https://splash247.com/mol-establishes-offshore-wind-division/
4. Euronav swoops for suezmax resales
Euronav has switched its buying focus from VLCCs to suezmaxes. Clarksons Research reports that the Belgian tanker giant has swooped for two resales at Daehan Shipyard, originally ordered by Turkey’s Yasa Shipping. Euronav is thought to be paying between $57m and $58m for each 158,000 dwt tanker. The ships deliver in January 2022. https://splash247.com/euronav-swoops-for-suezmax-resales/
5. Terrifying Video Shows Cargo Ship Break in Half Off Turkey
Turkish maritime authorities have published some terrifying video showing a cargo ship breaking in half in a matter of minutes.
The incident took place January 17 when the Palau-flagged Arvin broke in half and sunk at a Black Sea anchorage off the Port of Bartin. The 1975-built ship was reported to be carrying 2,902 tons of urea. https://gcaptain.com/terrifying-video-shows-cargo-ship-break-in-half-off-turkey/
6. Shipping’s Wall Street saga: Rags to riches to rags to occasional riches
That doesn’t sound like much of an achievement. The U.S. IPO market is booming; proceeds surged 69% in 2020, according to Renaissance Capital. Yet prior to ZIM (NYSE: ZIM), there hadn’t been a U.S. shipping IPO since Barack Obama was in the Oval Office, when Peter Georgiopoulos-led Gener8 Maritime, a company that no longer exists, went public. https://www.hellenicshippingnews.com/shippings-wall-street-saga-rags-to-riches-to-rags-to-occasional-riches/
7. China goes on pricey U.S. corn shopping spree amid thin supply at home
China had been relatively quiet in the U.S. corn market since its record buying streak last summer, but a string of much more expensive bookings this week would seem to be proof of the country’s dire need for the yellow grain. https://www.hellenicshippingnews.com/china-goes-on-pricey-u-s-corn-shopping-spree-amid-thin-supply-at-home/
8. Indian Oil Announces New Greenfield Refinery At Nagapattinam In Tamil Nadu
State-run oil refiner Indian Oil’s board of directors on Friday approved setting up a new refinery in Nagapattinam in Tamil Nadu, chairman and managing director SM Vaidya said at a press conference. https://www.shippingtribune.com/news/shipping/Indian+Oil+announces+new+greenfield+refinery+at+Nagapattinam+in+Tamil+Nadu
9. Coal Demand Expected To Spike In 2021
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
According to sources, the import of coal at three coal-based power plants – China Hubco, Sahiwal and Port Qasim Electric — is around 10-12 million tonnes per annum. https://www.shippingtribune.com/news/shipping/Coal+demand+expected+to+spike+in+2021
10. Saudi Arabia Expected To Cut March Crude Prices For Asia: Survey
Top oil exporter Saudi Arabia is expected to lower its official selling prices (OSPs) for Asian buyers in March, the first cut in three months, tracking falling benchmark prices and coronavirus-induced demand weakness, a Reuters survey showed on Friday. https://www.shippingtribune.com/news/shipping/Saudi+Arabia+expected+to+cut+March+crude+prices+for+Asia%3A+survey
