1. The work of the evaluation drill “Glaucus-2” within Block 10, in the AOZ of the Republic of Cyprus has been completed
The Ministry of Energy, Commerce and Industry announces that the work of the “Glaucus-2” rating drilling, in Block 10 of the Exclusive Economic Zone of the Republic of Cyprus, has been successfully and safely completed. The drilling operations, which included production tests, were carried out by ExxonMobil Exploration and Production Cyprus (Offshore) Limited / Qatar Petroleum International Upstream LLC, which holds a Hydrocarbon Exploration License for the Unit. https://cyprusshippingnews.com/2022/03/21/the-work-of-the-evaluation-drill-glaucus-2-within-block-10-in-the-aoz-of-the-republic-of-cyprus-has-been-completed/?amp=1
2. Seafarers International Relief Fund launches urgent Ukraine crisis appeal to support seafarers and their families
The Seafarers International Relief Fund (SIRF) has launched a new appeal to the maritime industry to support seafarers and their families impacted by the crisis in Ukraine.
TK Foundation have already generously donated $50,000 donation to the new appeal. https://cyprusshippingnews.com/2022/03/21/seafarers-international-relief-fund-launches-urgent-ukraine-crisis-appeal-to-support-seafarers-and-their-families/?amp=1
3. Tufton Oceanic acquires a Handysize Bulker for $25.5m
The Board of Tufton Oceanic Assets is pleased to announce that it has agreed to acquire a Handysize Bulker for $25.5m.It is being acquired slightly above DRC but the strong cash flows from its charter will significantly de-risk the investment. The vessel has a fixed rate time charter of nine to twelve months producing a net yield of 25%. It is in the top quartile of fuel efficiency in its market segment. https://cyprusshippingnews.com/2022/03/21/tufton-oceanic-acquires-a-handysize-bulker-for-25-5m/?amp=1
4. Ocean Infinity signs the Climate Pledge
The Climate Pledge is a call to organisations from around the globe to take collective action on one of the biggest problems currently facing our planet – the climate crisis. When a company signs The Climate Pledge, it is committing to becoming net zero carbon by 2040, which is ten years earlier than stated in the Paris Agreement. As part of this journey, signatories are obliged to carry out regular reporting of greenhouse emissions, implement decarbonisation strategies and take action to neutralise any remaining emissions through credible offsets. https://cyprusshippingnews.com/2022/03/21/ocean-infinity-signs-the-climate-pledge/?amp=1
5. Russian Billionaire’s Yacht Detained in Gibraltar
A luxurious super-yacht linked to the owner of Russia’s largest steel pipe maker, who is currently under British and European Union sanctions, docked in Gibraltar on Monday and was then detained by the authorities. https://gcaptain.com/russian-billionaire-yacht-detained-gibraltar/
6. Russian Landing Ship Docks in Ukraine
Russia’s armed forces said on Monday they had docked a large, beachable landing support ship, the Orsk, in the occupied Ukrainian port of Berdyansk, 70 km (45 miles) southwest of the besieged Ukrainian port of Mariupol on the Sea of Azov. https://gcaptain.com/russian-landing-ship-docks-ukraine/
7. Euroseas in for feeder boxship trio at Hyundai Mipo
Greek boxship owner Euroseas has penned a new contract with Hyundai Mipo Dockyard for the construction of three 1,800 teu LNG-ready eco-design feeder containerships, taking its orderbook at the South Korean yard to seven ships. https://splash247.com/euroseas-in-for-feeder-boxship-trio-at-hyundai-mipo/
8. Avance Gas banks $4.8m profit from another VLGC sale
Norwegian shipowner Avance Gas has sold the 2008-built very large gas carrier (VLGC) Providence to undisclosed buyers.
The vessel will deliver in May this year and generate around $24.3m in net cash proceeds and a book profit of some $4.8m, which the Oslo-listed owner will recognise in the second quarter of 2022.
9. Ireland’s government opens leasing process for its first round of offshore windfarms
Ireland’s Minister for the Environment, Climate and Communications, Eamon Ryan TD has initiated the country’s Maritime Area Consent (MAC) regime for offshore windfarms, the first step towards projects securing planning permission https://www.rivieramm.com/news-content-hub/ireland-opens-leasing-process-for-offshore-windfarms-70304
10. Global Shipping Industry Has No Option But Pass On Fast Rising Costs, Says Top Maersk Official
The global shipping industry has already taken a big hit from COVID-19, highly volatile fuel prices, and the ongoing geopolitical crises. Consumers the world over will be bearing the brunt of it. https://www.shippingtribune.com/news/shipping/Global+shipping+industry+has+no+option+but+pass+on+fast+rising+costs%2C+says+top+Maersk+official