1. SCF concludes new international project financing for two shuttle tankers
PAO Sovcomflot has signed a new USD 110 million credit facility, for ten years, with three leading international banks: ING BANK N.V.; SMBC BANK EU AG and UNICREDIT BANK AG. The facility will be used to finance two new ice-class shuttle tankers, to be delivered in Q1 2022, to serve the Sakhalin-1 project (oil and gas development in the Sea of Okhotsk, on the north-eastern shelf of Sakhalin Island, Russia). https://cyprusshippingnews.com/2021/11/15/scf-concludes-new-international-project-financing-for-two-shuttle-tankers/
2. New strategic partnership in ICT solutions between OneNovation and Anglo-Eastern
OneNovation, a One Net Group company, and Anglo-Eastern are pleased to announce a strategic partnership in Information Technology solutions for their fleet of vessels. Together, the two companies are deploying a secure, efficient, and scalable technology platform that supports Anglo-Eastern’s current and future digital strategy. Under this partnership, Anglo-Eastern is at the forefront of innovation and engineering with the abela IT suite of services. https://cyprusshippingnews.com/2021/11/15/new-strategic-partnership-in-ict-solutions-between-onenovation-and-anglo-eastern/
3. Sri Lanka opens country’s main airport for crew logistic services
Ministry of Health in Sri Lanka has granted acceptance to proceed with the crew change and sea marshal services for the international seafarers through the country’s main airport to facilitate the travel on commercial flights said Chinthaka Jayaweera, General Manager of MAC Equity Maritime Services Limited, a fully owned subsidiary of MAC Holdings (Pvt) Ltd https://cyprusshippingnews.com/2021/11/15/sri-lanka-opens-countrys-main-airport-for-crew-logistic-services/
4. 300 Maritime Workers to build Digital and Technical Capabilities under enhanced career conversion programme by WSG and MPA
Workforce Singapore (WSG) and the Maritime and Port Authority of Singapore (MPA) have rolled out an enhanced Career Conversion Programme (CCP) for Sea Transport Professionals and Associates. Benefitting up to 300 individuals over two years, the enhancements include a new Job Redesign and Reskilling (JRR) pathway, specialist “Maritime Superintendency Track” and the expansion of the programme to cater for associates. https://cyprusshippingnews.com/2021/11/15/300-maritime-workers-to-build-digital-and-technical-capabilities-under-enhanced-career-conversion-programme-by-wsg-and-mpa/
5. Shell proposes UK move and name change
Anglo-Dutch supermajor Shell is seeking shareholder approval to establish a single equity line, move its tax residence and top executives from the Netherlands to the UK and drop Royal Dutch from its name. Under the proposal announced Monday, Shell intends to change its share structure to establish a single line of shares, which is said to be simpler for investors to understand and value, and also align its tax residence with its country of incorporation in the UK. https://splash247.com/shell-proposes-uk-move-and-name-change/
6. First satellite-focused leasetech firm aims to disrupt equipment financing
A new company has been launched, aiming to revolutionise the way firms finance satellite telecommunications equipment. SatLease Capital is focused on both maritime and land enterprises by generating satellite equipment leasing transactions. The Geneva-based firm said it is looking to fill a void in the current market by offering an all-in-one solution while traditional satellite service providers are not in a position to finance the equipment required by their customers. This is said to be the first ever independent satellite as a service solution brought to the service providers community. https://splash247.com/first-satellite-focused-leasetech-firm-aims-to-disrupt-equipment-financing/
7. Federal Maritime Commission to Examine Maritime Supply Chain Data Sharing
Federal maritime agency launches program looking into maritime supply chain data sharing and transparency. The U.S. Federal Maritime Commission announced a new initiative on Monday aimed at identifying data constraints that impede the flow of ocean cargo and add to supply chain inefficiencies. The FMC says the effort, to be spearheaded by Commissioner Carl W. Bentzel, will be critical to pinpointing how data can contribute to “the long-term reliability of the domestic cargo delivery system.” https://gcaptain.com/federal-maritime-commission-to-examine-maritime-supply-chain-data-sharing/
8. Los Angeles and Long Beach Port Authorities Postpone New Container Dwell Fees
San Pedro Bay Ports postpone dwell time fees set to start Monday as port authorities report progress despite an increasing number of containers over the weekend. The ports of Los Angeles and Long Beach announced Monday that they will delay their controversial container dwell fee directed at ocean carriers until November 22, bringing a sigh of relief for helpless cargo owners who faced steep penalties for containers stuck in marine terminals. https://gcaptain.com/los-angeles-and-long-beach-port-authorities-postpone-new-container-dwell-fees/
9. Baltic Index Slips To 1-Week Low On Weaker Rates For Larger Vessels
The Baltic Exchange’s dry bulk sea freight index dipped to its lowest in a week on Monday, pressured by declines in the larger capesize and panamax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 48 points, or 1.7%, to 2,759, touching its lowest since Nov. 8. The capesize index shed 84 points, or 2.2%, to 3,752, its lowest level since Nov. 9. Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell $698 to $31,113. https://www.shippingtribune.com/news/shipping/Baltic+index+slips+to+1-week+low+on+weaker+rates+for+larger+vessels
10. Gobbling Up’ Cargo: How Crude Tankers Cannibalized Product Tankers
Good news for refined product tankers: Those “cannibals” over in the crude business have temporarily stopped feasting on their cargoes.
Some tankers are specifically designed with coated tanks to switch between crude oil and refined products like gasoline and diesel. But even uncoated crude tankers can carry products if they’re brand new on their maiden voyage out of an Asian shipyard. https://www.shippingtribune.com/news/shipping/‘Gobbling+up’+cargo%3A+How+crude+tankers+cannibalized+product+tankers
