InterManager Daily News 23.02.2022.

1. International Maritime Industries and Columbia Shipmanagement expand collaboration with new agreement

International Maritime Industries (IMI), the largest shipyard in the MENA region, and Columbia Shipmanagement (CSM) have expanded their partnership by signing a Memorandum of Agreement that will boost Saudi Arabia’s capabilities in shipbuilding, ship repair and engineering excellence. The Memorandum of Agreement (MOA) comes only six months after both companies agreed to a Memorandum of Understanding to explore opportunities in various areas within the maritime sector.

2. Holograms promise to revolutionise training

Columbia Shipmanagement (CSM) tested hologram technology to highlight this innovation in January 2022. CSM president and chief executive Mark O’Neil addressed an audience in Manila, the Philippines from the offices of OneLearn Global in Limassol, Cyprus, 8,900 km away. He appeared as a life-size, 3D hologram, in 4K resolution to demonstrate the technology. Mr O’Neil says, “The future is already here. The equipment we use is high tech, but very portable and takes the whole issue of speaker contributions to conferences or business meetings to a completely different level.”

3. Renewable Energy Group and Bunker Holding enter strategic partnership to advance Biodiesel use in U.S. and EU Marine Markets

Bunker Holding Group, the world’s largest supplier and trader of marine fuels, and Renewable Energy Group a leading global producer and supplier of renewable fuels, have entered into a strategic global collaboration agreement to further develop the U.S. and EU marine markets for sustainable bio-based diesel.

4. Inmarsat and Hughes support ITU disaster relief efforts with $1.3 million donation

Inmarsat and Hughes Network Systems, LLC announced they have donated mobile satellite communications technology and services to the International Telecommunication Union (ITU) for use in developing nations facing natural and man-made disasters. The donation includes 30 Broadband Global Area Network (BGAN) terminals, manufactured by Hughes, and $1.2 million worth of satellite airtime from Inmarsat, leveraging the ELERA network. Hughes and Inmarsat will also provide technical training to ITU personnel so they can deliver a turn-key communications solution for humanitarian aid workers responding to emergencies anywhere in the world.

5. West successfully executes highly targeted renewal strategy

The West of England P&I Club has successfully achieved a targeted renewal strategy intended to counter the challenges posed by the consistent underrating in the P&I market and the growth of unpredictable major claims, all now set against a weak investment market. West’s renewal strategy was announced in Q3 2021 having been endorsed by its shipowner board. The Club has successfully executed that strategy at this renewal by rationalising its Membership through not offering renewal terms to those Members with consistently underperforming records and being selective in underwriting new business.

6. Prysmian to build new cable plant in northeast US to support Vineyard Wind deal

Italy’s Prysmian Group has signed a contract for the purchase of land at Brayton Point in Somerset, Massachusetts, where it plans to build a submarine power cable plant on the site of a former coal plant. The purchase is subject to the securing of state permits for construction. Prysmian expects to invest around $200m in the new plant.

7. MOL sets sights on offshore wind vessels

Japanese shipping giant Mitsui OSK Lines (MOL) has teamed up with compatriot marine contractor Toyo Construction to evaluate potential collaboration on commercialising vessels related to offshore wind power projects in Japan and overseas. Installing larger offshore wind turbines could become a challenge for operators as demand will outstrip the availability of suitable vessels by 2024, Rystad Energy warned earlier this month. “Vessels built earlier this decade are already becoming obsolete as turbine technology advances, making owners hesitant to commit to costly newbuilds that may become outdated before they are profitable,” Rystad noted.

8. Grounded Tresta Star Breaking Up on Reunion Island

The Mauritian-flagged tanker that ran aground earlier this month on Reunion Island in the Indian Ocean is in the process of breaking up.

A breach on the port side of the MT Tresta Star, exposed to the heavy swell caused by the recent passage of tropical cyclone Emnati, has “widened significantly” in size, according to an update from the Préfet of Reunion Island.

9. U.S. Eyes 100-Vessel Unmanned Drone Fleet in Middle East

The United States Navy and security partners will patrol Middle East waters with 100 unmanned vessels next year to improve deterrence against attacks, like those presented by Iran, the U.S. Fifth Fleet commander said on Monday. The region is vital for global trade, especially oil supplies that flow out of the Gulf via the Strait of Hormuz.

10. Higher Rates Across Vessels Propel Baltic Index To More Than 1-Month Peak

The Baltic Exchange’s dry bulk sea freight index rose to a more than one-month high on Monday, boosted by a jump in rates across vessel segments. The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 81 points, or 4.1%, to 2,045, its highest level since Jan. 11. The capesize index jumped 174 points, or 10.4%, to 1,849.


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