InterManager Daily News 07.07.2021.

1. Inchcape Shipping Services and John Keells Holdings form joint venture company
Inchcape Shipping Services registered in England and John Keells Holdings PLC registered in Sri Lanka have signed a joint venture agreement recently which has resulted in the formation of “Inchcape Mackinnon Mackenzie Shipping (Private) Limited”. Inchcape Mackinnon Mackenzie will provide a diverse range of maritime services in Sri Lanka which includes Port Agency, Husbandry, Crew logistics services, Ship chandelling, Bunker fuel supply arrangement, Liner Agency, Marine Survey & Inspection, Logistics services to oil and gas, construction, dredging, cable-laying, Cruise tourism and others sectors, Military support services and Maritime Consultancy. https://cyprusshippingnews.com/2021/07/06/inchcape-shipping-services-and-john-keells-holdings-form-joint-venture-company/

2. Marlow Navigation and Opielok Offshore Carriers (OOC) sign merger agreement
On the 28th of June 2021, OOC and the Marlow Group signed an agreement in which Marlow takes over Opielok’s shares. Talks started in late 2020 have now reached a successful closure. The key focus and main driver behind the merging of the two brands is to retain well tested and proven qualities, whilst at the same time streamline processes and benefit from economies of scale, which will result in improved customer services. https://cyprusshippingnews.com/2021/07/06/marlow-navigation-and-opielok-offshore-carriers-ooc-sign-merger-agreement/

3. Energy transition in shipping: First BioLNG production project at a French port
EveRé, operator of the multi-process household waste treatment plant commissioned by Métropole Aix-Marseille-Provence, the CMA CGM Group, a world leader in shipping and logistics, Elengy, a subsidiary of Engie, operating liquefied natural gas (LNG) terminals at Fos-sur-Mer and TotalEnergies, a global multi-energy company that produces and supplies energy, have joined forces to study the feasibility of creating France’s first production unit for liquefied biomethane (BioLNG), a low-carbon alternative fuel dedicated to energy transition in the shipping industry. https://cyprusshippingnews.com/2021/07/06/energy-transition-in-shipping-first-biolng-production-project-at-a-french-port/

4. Maritime Safety Week to focus on beach safety with bumper season expected
This week is Maritime Safety Week and with another bumper season expected on the UK’s beaches, we’re taking this opportunity to remind everyone about the importance of taking responsibility for the safety of yourself and others at the coast. During May-October 2020 the number of people visiting UK beaches soared; Coastguard incidents increased by 18% and 999 calls to the Coastguard increased by 37% (compared to the same period in 2019). August was our busiest month – 999 calls to Coastguards increased by over 50% compared to August 2019. https://cyprusshippingnews.com/2021/07/06/maritime-safety-week-to-focus-on-beach-safety-with-bumper-season-expected/

5. A Violent Mud Volcano Erupts In The Caspian Sea
King Neptune must be angry. Last week acrazy fire-eye ignited in on Mexico’s gulf coast, and last night a towering pillar of fire erupted in Azerbaijan’s Caspian Sea. The Caspian eruption, which continues to smolder, was caused by a mud volcano, according to the country’s Emergencies Ministry. Mud volcanos, also known as mud domes, are new landform created by the eruption of mud or slurries, water and gases. https://gcaptain.com/mud-volcano-caspian/

6. Pemex Claims No Environmental Damage From The Offshore ‘Eye Of Fire’ Blaze
Just days after video of a massive ocean surface blaze near a Pemex oil platform in the Gulf of Mexico went viral, Mexico’s national oil company has declared that environmental damage was avoided due to quick action by its workers. The July 2 blaze, caught on videoapparently from a nearby helicopter, showed bright orange flames jumping out of the water as the fire raged a short distance from the oil platform. Pemex has previously said it took more than five hours to fully extinguish the fire. https://gcaptain.com/environmental-damage-offshore-eye-fire/

7. Deal Reached for Ever Given to Depart Suez on Wednesday
The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7. The Suez Canal Authority (SCA) has held the giant ship and its crew in a lake between two stretches of the waterway since it was dislodged on March 29, amid a dispute over a demand for compensation by the SCA. https://gcaptain.com/ever-given-will-depart-suez-wednesday/

8. Container line profits could hit $100bn in 2021
The latest edition of Drewry’s Container Forecaster predicts that carriers will report an EBIT of $80bn for this year, up from a previous estimate of $35bn, and that if freight rates surpassed expectations for the rest of the year EBIT could hit the $100bn. Drewry noted that spot rates had been driven to new highs in the second quarter of the year with spot rates following as global supply chain disruptions worsened. https://www.seatrade-maritime.com/containers/container-line-profits-could-hit-100bn-2021

9. Baltic Index Dips As Weaker Rates For Larger Vessels Weigh
Baltic Exchange’s main sea freight index , which tracks rates for ships carrying dry bulk commodities, eased on Monday pressured by declines in capesize and panamax vessel rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 61 points, or 1.9%, to 3,224. The capesize index dropped 161 points, or about 4.6%, to a more than three-week low of 3,349. https://www.shippingtribune.com/news/shipping/Baltic+index+dips+as+weaker+rates+for+larger+vessels+weigh

10. Natural Gas Demand Growth Set To Slow In Coming Years, But Strong Policy Actions Still Needed To Bring It On Track For Net-Zero Emissions
Natural gas demand is set to rebound strongly in 2021 and will keep rising further if governments do not implement strong policies to move the world onto a path towards net-zero emissions by mid-century, according to a new report by the International Energy Agency. Global gas demand is expected to rise by 3.6% in 2021 before easing to an average growth rate of 1.7% over the following three years, according to the IEA’s latest quarterly Gas Market Report, which also provides a new medium-term forecast. By 2024, demand is forecast to be up 7% from 2019’s pre-Covid levels. https://www.shippingtribune.com/news/shipping/Natural+gas+demand+growth+set+to+slow+in+coming+years%2C+but+strong+policy+actions+still+needed+to+bring+it+on+track+for+net-zero+emissions

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