1. Future International Trade Alliance launched
ICC, DCSA, BIMCO, FIATA and SWIFT have launched the Future International Trade Alliance and signed a memorandum of understanding to standardise digitalisation of international trade. Together, the industry associations will collaborate on the development and adoption of relevant standards to facilitate the use of electronic bills of lading. https://cyprusshippingnews.com/2022/02/16/future-international-trade-alliance-launched/
2. Posidonia 2022 to chart new course for global shipping reset
Posidonia 2022 will be held this summer from June 6-10, with the 27th edition of the world’s most prestigious shipping event gearing up to welcome the international maritime community back to its Athens Metropolitan Expo venue, following the pandemic-induced disruption of the 2020 event. https://cyprusshippingnews.com/2022/02/16/posidonia-2022-to-chart-new-course-for-global-shipping-reset/
3. IRClass Systems and Solutions Pvt Ltd (ISSPL) announces acquisition of test laboratory
IRClass Systems and Solutions Pvt Ltd (ISSPL), an entity promoted by Indian Register of Shipping, has acquired several verticals of CEG Test House including Food & Agriculture, Pharmaceutical, AYUSH and Environmental Testing. Through the acquisition of this test laboratory, ISSPL will be able to offer testing services to several key verticals under one roof. This move strengthens ISSPL’s presence in the testing laboratory segment. https://cyprusshippingnews.com/2022/02/16/irclass-systems-and-solutions-pvt-ltd-isspl-announces-acquisition-of-test-laboratory/
4. English Law Charterparty issues relating to potential hostilities between the Ukraine and Russia
As is known, armed conflict is possible between Ukraine and Russia. Events are fast moving, and it is of course very much hoped by all that such can be avoided. As a precautionary measure, however, we are publishing the following general FAQs so that our members and assureds can have some general guidance on a few fundamental questions. Please note that this is not specific advice, and each case turns on its own specific facts. In the event that an actual matters arises, members and assureds should immediately contact the club for further guidance. https://cyprusshippingnews.com/2022/02/16/faqs-english-law-charterparty-issues-relating-to-potential-hostilities-between-the-ukraine-and-russia/
5. Google searches for supply chain fix
Will shippers soon be able to Google their way out of a supply chain crisis? New York-listed Dun & Bradstreet, a provider of business decisioning data and analytics, and Google Cloud have announced a 10-year strategic agreement to to co-develop software and services around supply chain visibility and other business issues. https://splash247.com/google-searches-for-supply-chain-fix/
6. Fire rips through car carrier, all 22 crew safely evacuate
All 22 crew onboard the Felicity Ace car carrier were evacuated yesterday after a fire ripped through one of the ship’s cargo decks while it was crossing the Atlantic Ocean. The Portuguese navy and four nearby merchant ships came to the rescue of the Mitsui OSK Lines (MOL) vessel which was midway through a voyage taking German cars from Emden to Rhode Island when the blaze started. https://splash247.com/fire-rips-through-car-carrier-all-22-crew-safely-evacuate/
7. Record Rogue Wave Measured Off British Columbia
Researchers have measured what they believe to be the most extreme rogue wave ever recorded at 17.6 meters – the equivalent of a four-story building. The wave was recorded in the Pacific Ocean west of Ucluelet, British Columbia in November 2020 by Victoria, B.C.-based MarineLabs Data Systems (MarineLabs). The wave is also the subject of a scientific report by Dr. Johannes Gemmrich and Leah Cicon, both of the University of Victoria, published last week in Scientific Reports. https://gcaptain.com/record-rogue-wave-measured-off-british-columbia/
8. Europe Remains Top Destination for U.S. LNG For Third Month
Europe’s call for U.S. liquefied natural gas continues to run hot in February and is poised to remain the top destination for U.S. shipments for the third month in a row, according to mid-month Refinitiv vessel tracking data on Tuesday. About three quarters of U.S. LNG volumes went to Europe in January as skyrocketing demand lifted prices and U.S. LNG exports. U.S. LNG exports overall last month hit 7.3 million tonnes. Read full story https://gcaptain.com/europe-remains-top-destination-for-u-s-lng-for-third-month/
9. The changing face of ship management
Traditionally, the qualities shipowners and operators looked for in ship managers were transparency, trust and reliability. Now, owners are looking for larger, more impactful expectations from a manager, namely digitalisation, sustainability and ESG. In this rapidly evolving, digitalised, eco-friendly shipping environment lies the ship manager’s challenge to adapt and be prepared to work with these changes. When we established Viridian Maritime, our entire aim was to change the manner in which ship management was historically operated. There was certainly a requirement for a breath of fresh air on how assets are managed and how operational teams delivered on their promises to asset owners and agreed operating cost budgets. https://www.rivieramm.com/news-content-hub/the-changing-face-of-ship-management-69751
10. Newbuilding prices up despite lack of orders
Week 6, 2022 saw no new tanker newbuilding contracts placed and according to VesselsValue, no newbuilding contracts have been placed at a shipyard for tankers over 100,000 dwt since 1 November 2021 In the smaller sectors, CRS reported that only three crude oil tanker contracts have been placed in 2022. Year-on-year, this is an 85% fall in contracting. In the product tanker sector, the rate of newbuilding contracting has been also weak, with just three new contracts in 2022, a fall of 70% year-on-year. https://www.rivieramm.com/news-content-hub/newbuilding-prices-up-despite-lack-of-orders-69694
