1. Change in piracy threats in Indian Ocean prompts re-think of High Risk Area
A continued downward trend in Somali piracy has prompted leading shipping organisations to reduce the geographic boundaries of the âHigh Risk Areaâ (HRA) for piracy in the Indian Ocean, which will apply from 1 September 2021. In broad terms, the changes agreed by BIMCO, ICS, INTERCARGO, INTERTANKO, and OCIMF, representing the global shipping and oil industries, will reduce the HRA boundaries to the Yemeni and Somali Territorial Seas and Exclusive Economic Zones in its eastern and southern reaches. https://cyprusshippingnews.com/2021/08/18/change-in-piracy-threats-in-indian-ocean-prompts-re-think-of-high-risk-area/
2. Monjasa acquires flexi tanker matching dynamic West Africa cargo market
Global oil and shipping group Monjasa acquires the 25,117-dwt flexi tanker Monjasa Trader (formerly named Neste) as new combined cargo and bunker vessel for its West Africa operations. On 15 August 2021, Monjasa Trader flew the Monjasa flag for the first time leaving the Port of Rotterdam and setting course for Lomé, West Africa. The Monjasa Trader is built to high specification for European coastal trade and very well maintained by her former sole owner, Neste Corporation in Finland. https://cyprusshippingnews.com/2021/08/18/monjasa-acquires-flexi-tanker-matching-dynamic-west-africa-cargo-market/
3. Fully automated container storage system makes first successful trial
DP World has completed testing of the Boxbay fully automated container storage system at its Jebel Ali terminal in Dubai, accomplishing more than 63,000 container moves since the facility was commissioned earlier this year.
The facility, which can hold 792 containers at a time, exceeded expectations, delivering faster and more energy-efficient than anticipated, the Dubai-headquartered terminal operator said. https://splash247.com/fully-automated-container-storage-system-makes-first-successful-trial/
4. SFL seals 10-year charter deal for two LNG-fuelled car carriers in Asia
John Fredriksenâs SFL Corporation has landed long-term charters with an undisclosed Asia-based transportation firm for two dual-fuel car carriers designed to use liquified natural gas (LNG). The vessels are sister vessels of the two 7,000 ceu pure car and truck carriers under construction, chartered to Volkswagen, and scheduled for delivery in Q1-Q2 of 2024.
https://splash247.com/sfl-seals-10-year-charter-deal-for-two-lng-fuelled-car-carriers-in-asia/
5. Green Energy Group wins offshore wind contract extension
Oslo-listed Green Energy Group, formerly Seabird Exploration, has secured a contract extension in the offshore wind sector for the 2008-built Petrel Explorer acting as an accommodation vessel during a maintenance campaign in the Baltic Sea. The Contract has been extended by one month and will be completed in early October 2021. âSince starting the contract in May, the Petrel Explorer has proven itself as very suitable for windfarm support work and the company will pursue other opportunities for the vessel in this segment,â Green Energy Group said. https://splash247.com/green-energy-group-wins-offshore-wind-contract-extension/
6. Californian ports struggle to clear peak season boxes, brace for brutal September
The largest export out of Americaâs top container port is air, a stark reminder of the massively pressurised situation slamming US supply chains this peak season. Giving an update on operations yesterday, Gene Seroka, the executive director of the Port of Los Angeles told reporters: âOur largest export commodity continues to be air as we reposition empty containers back to Asia.â https://splash247.com/californian-ports-struggle-to-clear-peak-season-boxes-brace-for-brutal-september/
7. Somali piracy lull prompts High Risk Area trim
HRA was introduced to counter the threat of Somali piracy around 2010, when vessels were routinely hijacked off the Somali coast and held for ransom. Vessels entering the HRA were advised to take extra security precautions in line with Best Management Practices to Deter Piracy and Enhance Maritime Security in the Red Sea, Gulf of Aden, Indian Ocean and Arabian Sea (BMP). The hijackings led to the deaths of dozens of seafarers. Of the thousands of seafarers taken hostage, many were subject to abuse and suffered injury and emotional trauma.
https://www.seatrade-maritime.com/piracy/somali-piracy-lull-prompts-high-risk-area-trim
8. No relief yet for tanker owners as rates stay down
However, in market analysis released last week by Belgian-based tanker owner, Euronav, the company identified some potentially positive factors in the months ahead. Asset prices are firmer, Euronav noted, with VLCC and Suezmax prices climbing 9% in the second quarter alone. Steel prices hit their highest level since August 2008, one factor in pushing recycling rates to more than $600/ldt in Bangladesh, for example, and more tankers heading for demolition. Nine VLCCs have been sold for recycling so far this year, the company said, more than double the 2020 total. https://www.seatrade-maritime.com/tankers/no-relief-yet-tanker-owners-rates-stay-down
9. Baltic Index Rally Gains Steam On Rising Demand Across Vessels
The Baltic Exchangeâs main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a sixth straight session on Tuesday, scaling its highest in more than a decade on stronger demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 1.4%, or 51 points, to 3,657, the highest since June 2010. The capesize index jumped 98 points, or 2%, to 4,950, a peak since May 11. https://www.shippingtribune.com/news/shipping/Baltic+index+rally+gains+steam+on+rising+demand+across+vessels
10. Adani Says It Can Easily Acquire State-Owned Container Corp Of India
THE Adani organisation feels confident it can swallow state-owned container rail operator Container Corp of India (Concor) with little disturbance to its corporate structure and financial health, reports Bloomberg. Adani Ports & Special Economic Zone expects to easily raise funds to acquire Concor, in which the government is looking to divest its shareholding.”Concor is a very strategic acquisition,” said Adani CEO Karan Adani. By raising funds “without stretching the balance sheet, we should easily be able to do that acquisition,” he said. https://www.shippingtribune.com/news/shipping/Adani+says+it+can+easily+acquire+state-owned+Container+Corp+of+India
1. Change in piracy threats in Indian Ocean prompts re-think of High Risk Area
A continued downward trend in Somali piracy has prompted leading shipping organisations to reduce the geographic boundaries of the âHigh Risk Areaâ (HRA) for piracy in the Indian Ocean, which will apply from 1 September 2021. In broad terms, the changes agreed by BIMCO, ICS, INTERCARGO, INTERTANKO, and OCIMF, representing the global shipping and oil industries, will reduce the HRA boundaries to the Yemeni and Somali Territorial Seas and Exclusive Economic Zones in its eastern and southern reaches. https://cyprusshippingnews.com/2021/08/18/change-in-piracy-threats-in-indian-ocean-prompts-re-think-of-high-risk-area/
2. Monjasa acquires flexi tanker matching dynamic West Africa cargo market
Global oil and shipping group Monjasa acquires the 25,117-dwt flexi tanker Monjasa Trader (formerly named Neste) as new combined cargo and bunker vessel for its West Africa operations. On 15 August 2021, Monjasa Trader flew the Monjasa flag for the first time leaving the Port of Rotterdam and setting course for Lomé, West Africa. The Monjasa Trader is built to high specification for European coastal trade and very well maintained by her former sole owner, Neste Corporation in Finland. https://cyprusshippingnews.com/2021/08/18/monjasa-acquires-flexi-tanker-matching-dynamic-west-africa-cargo-market/
3. Fully automated container storage system makes first successful trial
DP World has completed testing of the Boxbay fully automated container storage system at its Jebel Ali terminal in Dubai, accomplishing more than 63,000 container moves since the facility was commissioned earlier this year.
The facility, which can hold 792 containers at a time, exceeded expectations, delivering faster and more energy-efficient than anticipated, the Dubai-headquartered terminal operator said. https://splash247.com/fully-automated-container-storage-system-makes-first-successful-trial/
4. SFL seals 10-year charter deal for two LNG-fuelled car carriers in Asia
John Fredriksenâs SFL Corporation has landed long-term charters with an undisclosed Asia-based transportation firm for two dual-fuel car carriers designed to use liquified natural gas (LNG). The vessels are sister vessels of the two 7,000 ceu pure car and truck carriers under construction, chartered to Volkswagen, and scheduled for delivery in Q1-Q2 of 2024.
https://splash247.com/sfl-seals-10-year-charter-deal-for-two-lng-fuelled-car-carriers-in-asia/
5. Green Energy Group wins offshore wind contract extension
Oslo-listed Green Energy Group, formerly Seabird Exploration, has secured a contract extension in the offshore wind sector for the 2008-built Petrel Explorer acting as an accommodation vessel during a maintenance campaign in the Baltic Sea. The Contract has been extended by one month and will be completed in early October 2021. âSince starting the contract in May, the Petrel Explorer has proven itself as very suitable for windfarm support work and the company will pursue other opportunities for the vessel in this segment,â Green Energy Group said. https://splash247.com/green-energy-group-wins-offshore-wind-contract-extension/
6. Californian ports struggle to clear peak season boxes, brace for brutal September
The largest export out of Americaâs top container port is air, a stark reminder of the massively pressurised situation slamming US supply chains this peak season. Giving an update on operations yesterday, Gene Seroka, the executive director of the Port of Los Angeles told reporters: âOur largest export commodity continues to be air as we reposition empty containers back to Asia.â https://splash247.com/californian-ports-struggle-to-clear-peak-season-boxes-brace-for-brutal-september/
7. Somali piracy lull prompts High Risk Area trim
HRA was introduced to counter the threat of Somali piracy around 2010, when vessels were routinely hijacked off the Somali coast and held for ransom. Vessels entering the HRA were advised to take extra security precautions in line with Best Management Practices to Deter Piracy and Enhance Maritime Security in the Red Sea, Gulf of Aden, Indian Ocean and Arabian Sea (BMP). The hijackings led to the deaths of dozens of seafarers. Of the thousands of seafarers taken hostage, many were subject to abuse and suffered injury and emotional trauma.
https://www.seatrade-maritime.com/piracy/somali-piracy-lull-prompts-high-risk-area-trim
8. No relief yet for tanker owners as rates stay down
However, in market analysis released last week by Belgian-based tanker owner, Euronav, the company identified some potentially positive factors in the months ahead. Asset prices are firmer, Euronav noted, with VLCC and Suezmax prices climbing 9% in the second quarter alone. Steel prices hit their highest level since August 2008, one factor in pushing recycling rates to more than $600/ldt in Bangladesh, for example, and more tankers heading for demolition. Nine VLCCs have been sold for recycling so far this year, the company said, more than double the 2020 total. https://www.seatrade-maritime.com/tankers/no-relief-yet-tanker-owners-rates-stay-down
9. Baltic Index Rally Gains Steam On Rising Demand Across Vessels
The Baltic Exchangeâs main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a sixth straight session on Tuesday, scaling its highest in more than a decade on stronger demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 1.4%, or 51 points, to 3,657, the highest since June 2010. The capesize index jumped 98 points, or 2%, to 4,950, a peak since May https://www.shippingtribune.com/news/shipping/Baltic+index+rally+gains+steam+on+rising+demand+across+vessels
10. Adani Says It Can Easily Acquire State-Owned Container Corp Of India
THE Adani organisation feels confident it can swallow state-owned container rail operator Container Corp of India (Concor) with little disturbance to its corporate structure and financial health, reports Bloomberg. Adani Ports & Special Economic Zone expects to easily raise funds to acquire Concor, in which the government is looking to divest its shareholding.”Concor is a very strategic acquisition,” said Adani CEO Karan Adani. By raising funds “without stretching the balance sheet, we should easily be able to do that acquisition,” he said. https://www.shippingtribune.com/news/shipping/Adani+says+it+can+easily+acquire+state-owned+Container+Corp+of+India
