InterManager Daily News 19.07.2021.

1. Seaspan completes significantly upsized $750 Million offering of blue transition bonds

Seaspan Corporation , a wholly-owned subsidiary of Atlas Corp. (“Atlas”) (NYSE: ATCO), today announced that it has successfully closed its previously announced issuance of $750 million in senior unsecured notes (the “Notes”), upsized from the original offering size of $500 million. The Notes will mature in 2029 and will accrue interest payable semiannually at a rate of 5.50% per year. Seaspan intends to allocate the net proceeds of the offering to acquire, finance or refinance, in whole or in part, certain new and/or existing eligible projects consistent with Seaspan’s Blue Transition Bond Framework.

2. EU overreach threatens to sink shipping’s decarbonisation efforts, warns ICS

The International Chamber of Shipping (ICS) has released a statement following the European Commission’s proposed extension of the EU’s Emissions Trading System (ETS) to cover the international shipping sector. Guy Platten, secretary general of ICS, commented: “Other than as an ideological revenue raising exercise, which will greatly upset the EU’s trading partners, it’s difficult to see what extending the EU ETS to shipping will achieve towards reducing CO2, particularly as the proposal only covers about 7.5% of shipping’s global emissions. This could seriously put back climate negotiations for the remaining 92.5% of shipping emissions.”

3. Port of Rotterdam welcomes the NAIADES III Action Plan for inland waterway transport

On 24 June, the European Commission published the NAIADES III Action Plan for ‘boosting future-proof European inland waterway transport’. The Port of Rotterdam welcomes the Commission’s initiative and the subsequent flagships that address the need to shift more freight to inland waterways and to facilitate the transition towards zero-emission inland waterways transport. The Action Plan plays an important role in securing the competitive position of the sector on the long term.

1. Advancing Limassol Port operating environment On 13th July, Cyprus Marine Club held its summer event at newly renovated Gazebo Mare Beach Bar. Cyprus Marine Club had the honor to host Mr. Nawaf Abdulla CEO at DP World Limassol with his presentation entitled ” Advancing Limassol Port Operating Environment “ Mr. N. Abdulla with his congenial, appealing way, effortlessly managed to attract the attention of every single member and guest of Cyprus Marine Club.

5. Iran Plans First Oil Export From Gulf of Oman Port Next Week

Iran plans to ship a cargo of oil from a port in the Gulf of Oman next week, its first crude export from outside the Persian Gulf and beyond the Strait of Hormuz. “The first vessel has arrived in the Jask region and we expect operations to load heavy crude to start Monday noon,” Vahid Maleki, director of the Jask Oil Terminal, told the state-run Islamic Republic News Agency. He didn’t elaborate on the size of the cargo or its destination.

6. Vineyard Wind Strikes Union Labor Deal for Nation’s First Major Offshore Wind Farm

Vineyard Wind on Friday announced a deal to use union labor to help construct what will become the nation’s first major offshore wind project off the Massachusetts coast near Martha’s Vineyard. The labor agreement with the Southeastern Massachusetts Building Trades Council covers 500 jobs, most of which will go to local workers, the company said in a statement. It also includes hiring targets for women and people of color.

7. Sailing Cargo Ship ‘Ceiba’ Comes to Life in the ‘Jungle Shipyard’

Danielle Doggett and her co-founders have been on a mission since 2014 to prove the viability of truly emission-free shipping courtesy of the construction of its $4.2m flagship Ceiba, a three masted sailing cargo vessel being built in Costa Rica. “The name Ceiba comes from a type of tree, also called the kapok or silk tree and it is recognized by the Mayan people as a spiritual tree that connects this world with the next,” explained Doggett in a recent interview with Maritime Reporter TV.

8. Data standards a boon for some, a threat for others

“I think these ideas around getting these standardisations in data protocols is really interesting, and I think that will facilitate our ability to build a logistics and shipping ecosphere if you like to give us at least common data that we can share,” said Rob Harrison, Regional Commercial Director, Europe, DP World.

9. Baltic Index Posts First Weekly Fall In Six On Weak Demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, slid on Friday and snapped five straight weekly gains on weakening vessel demand. The main index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 34 points, or 1.1%, to 3,039. The index retreated 7.9% this week, its biggest fall since the week ended May 28.

10. Bad Weather Hits Rio Tinto’s Qtrly Iron Ore Exports Ahead Of Results Bonanza

Rio Tinto reported a 12% fall in quarterly iron ore shipments on Friday after storms affected its West Australian operations, but is expected to report bumper results this month on soaring prices for the steel raw material. Rio said it now expects to ship near the lower end of its range of 325 million tonnes (mt) and 340 mt in calendar 2021, meaning it may hand back its crown as the world’s biggest producer to Brazilian rival Vale S.A.’s+qtrly+iron+ore+exports+ahead+of+results+bonanza


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