InterManager Daily News 25.02.2022.

1. Seafarer Happiness Index Q4 2021 reflects a depressed, stressed and frustrated workforce

Seafarers Happiness Index Quarter 4 2021 results wraps up 2021, demonstrating how the ‘general happiness’ of seafarers goes hand in hand with the international response to the yo-yo nature of Covid. Where there has been an… Seafarers Happiness Index Quarter 4 2021 results wraps up 2021, demonstrating how the ‘general happiness’ of seafarers goes hand in hand with the international response to the yo-yo nature of Covid. Where there has been an opening up of movement, the optimism has seen sentiment rise, while in times of rising infections and movement bans, the fears and frustrations are mirrored accordingly.

2. ABB and Ballard reach milestone towards fuel cell-powered marine transport

ABB and Ballard are progressing with their industry-leading partnership to decarbonize marine transport and have received an AiP from DNV for their high-power fuel cell concept, the development of which was launched in 2018. An AiP is a major milestone in developing new technology as an independent assessment of the concept, confirming that the design is feasible and no significant obstacles exist to prevent the concept from being realized. With the AiP in place, the jointly developed solution can be completed within the next couple of years for application onboard a wide range of vessels.

3. LNG industry rebounds in 2021 amid supply constraints and volatile prices

The global trade in liquefied natural gas (LNG) increased 6% to 380 million tonnes during 2021 as many countries rebounded from the economic impact of the COVID-19 pandemic, according to Shell’s latest annual LNG Outlook published today. Rising LNG demand, combined with supply constraints, caused gas and LNG prices to remain volatile throughout the year. Prices reached record levels in October 2021 as Europe, with historically low storage levels, struggled to secure LNG cargoes to meet expected winter gas demand.

4. Drone warships will help US be credible force at sea for a fraction of the cost, says GlobalData

Following the news that the US Navy has laid out a vision where both unmanned surface vessels and unmanned underwater vessels will form an integral part of future navy deployments; James Marques, Associate Aerospace, Defence and Security Analyst at GlobalData, a leading data and analytics company, offers his view: “Employing drones as part of its fleet promises to be a cheaper path for the US to exceed its current goal of 335 ships—a new ambition set by the Biden administration in the face of rising competition from China.

5. ‘Historic’ U.S. Offshore Wind Lease Sale Set to Smash Record

The largest ever U.S. sale of offshore wind development rights – for areas off the coasts of New York and New Jersey – attracted a record $1.5 billion in bids on Wednesday, supporting President Joe Biden’s plan to create a new domestic industry.

The auction, which will continue on Thursday, is the first offshore wind lease sale under Biden, who has made expansion of offshore wind a cornerstone of his plans to tackle global warming and decarbonize the U.S. electricity grid by 2035, while creating tens of thousands of jobs.

6. Omicron Ripping Through Cargo Ships May Exacerbate Shipping Woes

Omicron is ripping through cargo ships, raising concerns that a surge in cases, coupled with China’s tightened quarantine requirements for vessels, could delay supply chain stabilization for the shipping industry. Covid outbreaks are hitting ships globally, with cases increasing “exponentially,” said Francesco Gargiulo, CEO of the International Maritime Employers’ Council Ltd., which represents shipping companies. Anglo-Eastern Univan Group, which has an active crew of about 16,000, is seeing infections on five to seven vessels a month compared with only one or two a month last year, the company said.

7. US Department of Transportation announces $450m in funding to expand port capacity

The US Department of Transportation’s Maritime Administration (MARAD) announced on February 23 nearly $450m in newly available grant funding for port-related projects through the Port Infrastructure Development Program (PIDP) – the largest investment ever in the program. Grants will be awarded on a competitive basis to help ports expand capacity and improve the movement of goods. Applicants are encouraged to propose projects that will also strengthen resilience, reduce emissions and advance environmental justice.

8. Top Ships strikes deals for suezmax trio

The Nasdaq-listed company has chartered out the 2019-built Eco Bel Air and Eco Beverly Hillsto an undisclosed major oil trader for 20 to 26 months. The deal comes with the option to further extend the time charter until December 1, 2025 for Eco Beverly Hills and December 10, 2025 for Eco Bel Air. The vessels will commence their new contracts upon completion of their current charters with BP during the first and second quarter of 2021, respectively. The daily rate for the entire period for both vessels is $24,000.

9. Shell’s ‘Electric Dream’ ferries move closer to reality in Singapore

Contracted last year, the first of a series of new zero-emissions, all-electric ferries will begin construction in Singapore, says Penguin managing director James Tham. Shell Eastern Petroleum (Pte) unveiled a number of investments over the last two years as part of its 10-year plan to transform its Pulau Bukom manufacturing site into a low-carbon energy solutions hub.

10. Baltic Index Extends Winning Streak To 4th Day On Stronger Vessel Rates

The Baltic Exchange’s dry bulk sea freight index rose for a fourth straight session on Wednesday to its highest in more than six weeks, on gains in rates across vessel segments. The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 96 points to 2,244, its highest level since Jan. 10. The capesize index jumped 177 points, or almost 9%, to 2,192, its highest level since Jan. 11.


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