1. Signing ceremony for the Exploration and Production Sharing Contract for Block 5 of the EEZ of the Republic of Cyprus
It is with distinct pleasure that I welcome you all to the Presidential Palace, on the occasion of the signing of the Exploration and Production Sharing Contract and the Hydrocarbons Exploration License for Block 5, of the Exclusive Economic Zone of the Republic of Cyprus. I would especially like to greet our friends joining us here this morning from Qatar, the Manager of Qatar Energy’s International Upstream and Exploration, Mr Ali Al-Mana, and his associates. https://cyprusshippingnews.com/2021/12/10/remarks-by-the-minister-of-energy-commerce-and-industry-ms-natasa-pilides-at-the-signing-ceremony-for-the-exploration-and-production-sharing-contract-for-block-5-of-the-eez-of-the-republic-of-cyprus/
2. IMO Council to expand – amendments adopted
The IMO Assembly has adopted amendments to the IMO Convention to expand the size of the Council, extend the term of its Members and recognize three additional language texts as authentic versions of the IMO Convention.The Assembly is meeting for its 32nd session (6-15 December).Until the amendments enter into force, the current structure will remain unchanged. https://cyprusshippingnews.com/2021/12/10/%e2%80%8bimo-council-to-expand-amendments-adopted/
3. Cyprus Shipping Deputy Minister addresses IMO assembly in London
Cyprus’s Shipping Deputy Minister Vassilios Demetriades has called upon the sector’s community to work towards a sustainable future for shipping, with recognition and protection of seafarers, especially in pandemic circumstances. Addressing the 32nd regular session of the Assembly of the International Maritime Organization (IMO) in London on Tuesday morning, Demetriades praised the Organization, its members, and the good office of the Secretary-General for their “strong efforts and initiatives” that have managed to keep the world seaborne trade flowing and have protected the supply chain, including those of food, energy, and medicine. https://cyprusshippingnews.com/2021/12/09/cyprus-shipping-deputy-minister-addresses-imo-assembly-in-london/
4. Port of Long Beach breaks cargo record
The Port of Long Beach is on the verge of processing more than 9 million cargo containers by the end of 2021 as efforts continue to make room for imports and deliver holiday goods as quickly as possible. Dockworkers and terminal operators have moved more than 8.6 million twenty-foot equivalent units through November, already surpassing the current annual record of 8.1 million TEUs, set in 2020. https://cyprusshippingnews.com/2021/12/10/port-of-long-beach-breaks-cargo-record/
5. EU And UK Making Progress In Post-Brexit Fishing Dispute
The U.K. has issued additional fishing licenses for European Union boats, in a step that may signal some progress toward resolving the post-Brexit dispute in which the two sides are engulfed. “Today’s decision is an important step in a long process seeking full implementation of the Trade and Cooperation Agreement,” the European Commission said in a statement on Saturday, after the U.K. agreed to issue 18 licenses for EU replacement vessels in its territorial waters and 5 licenses for EU vessels to access Jersey waters. https://gcaptain.com/eu-u-k-making-progress-post-brexit-fishing-dispute/
6. Exxon Proposing to Build Supply Depot for Guyana Oil and Gas Projects
Exxon Mobil Corp outlined a major new investment in Guyana amid government calls for delivering economic benefits to residents from deepwater oil and gas discoveries helping turn the South American nation into an oil powerhouse. A coming onshore supply base will expand jobs and boost local fabrication for future projects starting with its fourth production unit, Exxon’s president for Guyana Alistair Routledge said in remarks late Thursday. It will bring total investment in Guyana to $30 billion, he told a Georgetown Chamber of Commerce and Industry gathering. https://gcaptain.com/exxon-proposing-to-build-supply-depot-for-guyana-oil-and-gas-projects/
7. Neptune Energy CEO to step down
UK-based oil and gas operator Neptune Energy said on Friday chief executive officer Jim House had decided to retire from his role and from the company’s board at the end of the month. Pete Jones, currently Neptune’s vice president of operations, Europe, will succeed House as CEO and join the board on January 1, 2022. He joined Neptune in August 2018. https://splash247.com/neptune-energy-ceo-to-step-down/
8. Syndicated marine finance loan volumes fall off a cliff
Shipping might have been enjoying its best year since the collapse of Lehman Brothers, yet loan volumes have fallen off a cliff in 2021. The ClarkSea Index – a weighted barometer developed by Clarksons covering the main shipping sectors – stands at $36,535 a day, with the average in the year to date up 90% year-on-year and 108% on the 10-year trend. https://splash247.com/syndicated-marine-finance-loan-volumes-fall-off-a-cliff/
9. Saudi Aramco To Supply Full Term Oil Volumes To Several Asian Buyers – Sources
Saudi Aramco has notified at least two North Asian buyers that it will supply full contractual volumes of crude oil in January, two sources with knowledge of the matter said on Friday. Most buyers were allocated full volumes, one of the sources said. The allocations come after Saudi Arabia raised its official selling prices (OSPs) for all crude grades sold to key market Asia for a second straight month in January, tracking robust gains in Middle East spot market last month. https://www.shippingtribune.com/news/shipping/Saudi+Aramco+to+supply+full+term+oil+volumes+to+several+Asian+buyers+%E2%80%93+sources
10. Bullish Oil Outlook Crushed By Rise In Coronavirus Cases
Brent prices and particularly calendar spreads are being hammered by the rising number of confirmed coronavirus cases around the world, which is threatening tougher international travel restrictions and renewed domestic lockdowns. Brent spreads have slumped since the start of November, roughly two weeks after the seven-day average new case count started rising in the middle of October, according to global statistics compiled by Our World in Data. https://www.shippingtribune.com/news/shipping/Bullish+oil+outlook+crushed+by+rise+in+coronavirus+cases
