1. Presentation of Shipping Research & Innovation funding opportunities at the Cyprus Shipping Chamber members’ meeting
The Cyprus Shipping Chamber held its Monthly Members’ Meeting on March 24 in Limassol, during which Dr. Nikolas Mastrogiannopoulos, Chief Research & Innovation Scientist of the Republic of Cyprus, President of the Research and Innovation Foundation (RIF) and Mr. Theodoros Loukaidis, General Manager of RIF, presented the new European Union funding programs for of Technological Development and Innovation in Cyprus. https://cyprusshippingnews.com/2022/03/28/presentation-of-shipping-research-innovation-funding-opportunities-at-the-cyprus-shipping-chamber-members-meeting/?amp=1
2. Scandlines offers free of charge passage to Ukrainian refugees
Scandlines offers free of charge passage to Ukrainian refugees
The Russian invasion of Ukraine has major human consequences. Scandlines wants to show its unequivocal support to the Ukrainian people and is therefore offering Ukrainian refugees free transport from Germany to Denmark on the company’s ferries. https://cyprusshippingnews.com/2022/03/28/scandlines-offers-free-of-charge-passage-to-ukrainian-refugees/?amp=1
3. Microsoft selects RISE with SAP to drive business innovation
Microsoft has chosen to adopt the RISE with SAP solution on Microsoft Cloud, shifting the company’s SAP ERP software systems to SAP S/4HANA Cloud, private edition.
RISE with SAP will allow Microsoft to deploy new capabilities and technologies faster and run its business on a flexible cloud-first solution that is integrated with the other cloud solutions from SAP that Microsoft uses. https://cyprusshippingnews.com/2022/03/28/microsoft-selects-rise-with-sap-to-drive-business-innovation/?amp=1
4. PGS releases new 3D GeoStreamer data for Ghana Tano Basin
PGS has added a further 2 000 sq. km of KPSDM processed MultiClient 3D GeoStreamer data offshore Ghana, revealing prolific Cretaceous reservoir targets in sharper detail. This significantly increases 3D coverage in the basin. The data is available now.
This 3D GeoStreamer survey targets the Tano Basin, in an area that has seen recent high-profile exploration success, with ENI’s Baliene-1X discovery in August 2021, and Springfield’s Afina-1X discovery in November 2019. https://cyprusshippingnews.com/2022/03/28/pgs-releases-new-3d-geostreamer-data-for-ghana-tano-basin/?amp=1
5. Sky-high box freight rates could increase global inflation by 1.5% this year: IMF
In the latest blog post on the IMF site entitled How Soaring Shipping Costs Raise Prices Around the World, IMF economists note the cost of shipping a container on the world’s transoceanic trade routes has increased seven-fold in the 18 months following March 2020. The analysis predates the war in Ukraine but isn’t isolated from it with IMF officials suggesting the conflict will likely exacerbate global inflation. https://splash247.com/sky-high-box-freight-rates-could-increase-global-inflation-by-1-5-this-year-imf/
6. Hyundai Heavy deploys lawyers to fight EC decision to block DSME takeover
Hyundai Heavy Industries has filed a legal challenge to the decision taken by the European Commission in January to oppose the takeover of compatriot builder, Daewoo Shipbuilding & Marine Engineering.
The commission had blocked the move on the grounds that the merger could give the enlarged entity too great control over the construction of LNG carriers, something subsequently that has become more important as Europe looks to wean itself off piped in supplies of Russian gas. https://splash247.com/hyundai-heavy-deploys-lawyers-to-fight-ec-decision-to-block-dsme-takeover/
7. ‘Clean Canaveral’ Performs Inaugural Barge-to-Ship LNG Bunkering Operation
The 5,500 cubic meter capacity Clean Canaveral operates as an articulated tug barge unit (“ATB”) and is owned by Polaris New Energy, a subsidiary of Seaside LNG Holdings. As part of the operation, LNG was loaded onto the Clean Canaveral at JAX LNG’s facility dock and then transferred approximately 600 metric tons of LNG to “cool down” and bunker the dual fuel tanker MT Eagle Brasilia, owned by AET. https://gcaptain.com/clean-canaveral-performs-inaugural-barge-to-ship-lng-bunkering-operation/
8. Capital Link’s International Shipping Forum Drybulk Panel: ‘You Pinch Yourself’
The drybulk panel at Capital Link’s International Shipping Forum (now in its 16th year) proved to be lively, to say the least, as shipowner participants engaged in a friendly volley along the lines of “Which is better?”. Martyn Wade, CEO of Nasdaq listed Grindrod Shipping (symbol “GRIN”), operating 31 Handy and Ultramax bulkers-mostly owned, some chartered in long-term, under the Island View Shipping (IVS) banner, said: “It’s our turn this time…” and “You pinch yourself…it’s really really hot out there,” after noting a recent fixture of a 33,000 tonner for around $50,000/day for work hauling containers. Later in the session, Mr. Wade said that GRIN was “happy to be rewarding long-suffering shareholders” with dividend payments, and prudent management of the balance sheet. https://gcaptain.com/capital-link-international-shipping-forums-drybulk-panel/
9. Maersk Supply Service to build pioneering installation vessel for Equinor and BP
Maersk Supply Service has been awarded a firm contract by Empire Offshore Wind, the joint venture between Equinor and BP, for installation of the Empire 1 and 2 offshore windfarms and is to build a unique turbine installation vessel to undertake the contract
As exclusively highlighted by OWJ on 23 March 2022, the installation vessel will be built in Singapore by SembCorp Marine, with a steel-cutting ceremony set for Q4 2022. https://www.rivieramm.com/news-content-hub/maersk-supply-service-to-build-pioneering-installation-vessel-for-equinor-and-bp-70407
10. Baltic Index Declines On Capesize Weakness
The Baltic Exchange’s dry bulk sea freight index edged lower on Monday as the capesize segment dipped for a ninth consecutive session.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, dipped 60 points to 2,484 points.
The capesize index dipped 153 points, or 8.1%, to 1,734. https://www.shippingtribune.com/news/shipping/Baltic+index+declines+on+capesize+weakness