1. Seafarer vaccination and green incentives remain top of the agenda for Cyprus’ meeting with IMO Secretary General
Shipping is a global industry and without the International Maritime Organization (IMO), global approaches and international discussions regarding industry challenges would be far more difficult.
As a leading flag state, Cyprus believes collaborating with the IMO is essential to driving progress across the entire industry. Cyprus works closely with the IMO to support shipping with its immediate priorities and also participates in the Correspondence Group on the Development of Technical Guidelines on Carbon Intensity Reduction. https://cyprusshippingnews.com/2021/03/05/seafarer-vaccination-and-green-incentives-remain-top-of-the-agenda-for-cyprus-meeting-with-imo-secretary-general/
2. NORDEN delivered an outstanding performance in 2020 – the best group result in 10 years
“NORDEN delivered an outstanding performance in challenging and volatile markets, achieving an Adjusted Result of USD 106 million in 2020 – the best group result in 10 years. The result reflects the recent transformation of our business model and strategy to an asset-light platform based on trading opportunities, using data as an asset and strengthening our customer focus. The Board of Directors recommends a dividend payment of DKK 9 per share in line with our dividend policy of returning minimum 50% of the annual Adjusted Result to our shareholders.”
3. DNV supports Hapag-Lloyd’s milestone green financing
DNV has supported Hapag-Lloyd in obtaining financing for six of its highly efficient containership newbuildings according to the Green Loan Principles of the Loan Market Association (LMA). DNV has verified that the transactions fulfil the requirements of the programme.
4. Vincent Clerc, A.P. Moller – Maersk’s CEO of Ocean & Logistics discusses supply chain disruption at the JOC TPM annual industry event
Vincent Clerc, A.P. Moller – Maersk’s CEO of Ocean & Logistics spoke at the JOC Transpacific Maritime Conference – North America’s largest (virtual) customer and industry event – to set the context of supply chain disruption for customers and three themes for improvement.
5. Container shipping could save $4bn a year from 50% take-up of e-Bills of Lading
Despite this significant cost saving estimated by the Digital Container Shipping Association (DCSA) the adoption of the e-Bill of Lading remains in its infancy. The idea of an a digital or e-Bill of Lading has been around for the better around 30 years, however, difficulties in moving paper documentation around the world with the onset of the Covid-19 pandemic last year is finally starting to drive adoption in container shipping. https://www.seatrade-maritime.com/technology/container-shipping-could-save-4bn-year-50-take-e-bills-lading
6. Biden Administration Set to Advance Offshore Wind Farm Near Martha’s Vineyard
The Bureau of Ocean Energy Management is set to publish a favorable final environmental review of the 800-megawatt project on Monday, according to two people familiar with the matter. That would mark the penultimate step in the Interior Department’s review of the project, setting the stage for a likely formal authorization in April.
7. Dredging the Coast is Making Flooding Worse, New Study Shows
Climate change is the main culprit behind nuisance flooding, but human alterations to coastal areas that deepen shipping channels or fill in wetlands may be exacerbating the problem by as much as 27%, according to a new study published today in the journal Science Advances. https://gcaptain.com/dredging-the-coast-is-making-flooding-worse-new-study-shows/
8. HM Coastguard Locates Life Raft from Missing Fishing Vessel ‘Nicola Faith’
The HM Coastguard has recovered a life raft that has been confirmed to be from the missing fishing vessel Nicola Faith. The raft was found off the coast of Kirkcudbrightshire in southwest Scotland by HM Coastguard. The Marine Accident Investigation Branch (MAIB) has positively identified the raft as being from the Nicola Faith, which went missing with its three crew members off the coast of Colwyn Bay in North Wales on January 27. https://gcaptain.com/hm-coastguard-locates-life-raft-from-missing-fishing-vessel-nicola-faith/
9. Fuel Demand To Expand 10% Next Year As Covid Intensity Reduces: Govt
The country’s fuel consumption is expected to shrug off the Covid-19 pandemic hit in the next fiscal year (FY22) and rise 9.85 per cent, according to the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. The forecast, however, trails the initial estimates. Demand for diesel is expected to reach 83.68 million tonnes (mt) in FY22, from 73.86 mt in FY21 — an increase of 13.30 per cent. https://www.shippingtribune.com/news/shipping/Fuel+demand+to+expand+10%25+next+year+as+Covid+intensity+reduces%3A+Govt
10. Baltic Index Marks Weekly Rise On Firmer Vessel Rates
The Baltic Exchange’s main sea freight index rose on Friday, while also notching a weekly gain, helped by higher rates across vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, climbed 50 points, or 2.8%, to 1,829 – its highest since Jan. 21. The index gained about 9% this week. https://www.shippingtribune.com/news/shipping/Baltic+index+marks+weekly+rise+on+firmer+vessel+rates