1. Cyprus ship management revenue rises to 4.2% GDP
Cyprus ship management revenues increased to €516 mln during the second half of 2021, or 4.2% of GDP (as turnover), marking a steady recovery from the pandemic and associated decline in economic activity, according to a Central Bank survey.
An increase of 15.4% from the first six months of 2021 generated €447 mln (4% GDP).
The Ship Management Survey notes that by country of payment, Germany’s contribution decreased from 45% GDP in 2021H1 to 43% in 2021H2. https://cyprusshippingnews.com/2022/04/20/cyprus-ship-management-revenue-rises-to-4-2-gdp/?amp=1
2. New “LiveFleet” tool offers greater transparency of ship’s performance and generates cost savings
Bernhard Schulte Shipmanagement makes further progress in the digitalisation of its fleet management. Building on the success of its existing LiveFleet monitoring platform, BSM is expanding the portal with a powerful addition. The new LiveFleet tool “Performance Overview” is pioneering support to take informed decisions on maintenance work and drydock planning. https://cyprusshippingnews.com/2022/04/20/new-livefleet-tool-offers-greater-transparency-of-ships-performance-and-generates-cost-savings/?amp=1
3. Iridium recognised with Trio of Awards
Iridium Communications is pleased to announce that it was the winner of three awards in March 2022, highlighting the company’s commitment to innovation and sustainability. The awards were presented at the Mobile Satellite Users Association innovation awards lunch, held at SATELLITE 2022, and at the 34th annual Thomas Jefferson Awards ceremony hosted by the Virginia Museum of Natural History (VMNH). https://cyprusshippingnews.com/2022/04/20/64814/?amp=1
4. ABP receives outline planning consent for 4.25 million sq ft of development at Port of Hull
Associated British Ports has been granted outline planning consent for more than 4.25 million sq ft of industrial, manufacturing and logistics development at the Port of Hull by East Riding of Yorkshire Council.
The 453 acres of prime land includes 212 acres located within the East Hull Humber Freeport Tax Assisted Zone, which offers significant tax incentives for inward investors. https://cyprusshippingnews.com/2022/04/20/abp-receives-outline-planning-consent-for-4-25-million-sq-ft-of-development-at-port-of-hull/?amp=1
5. EU, US, UK among growing host of nations demanding IMO revises targets to ensure shipping is GHG-free by 2050
Submissions are flying in ahead of the June meet-up of the Marine Environment Protection Committee (MEPC) at the London headquarters of the International Maritime Organization (IMO) with an increasing swathe of western democracies demanding that the IMO ups its green targets to ensure all greenhouse gas emissions from shipping are phased out by 2050 rather than the existing target of a 50% cut from a 2008 baseline. https://splash247.com/eu-us-uk-among-growing-host-of-nations-demanding-imo-revises-targets-to-ensure-shipping-is-ghg-free-by-2050/
6. Charterers ought to pay for carbon credits: BIMCO
Global shipowning body BIMCO has come out with an updated greenhouse gas (GHG) position statement, amid much jostling for who should pay for shipping’s decarbonisation. Unsurprisingly the organisation has said that charterers should pay for carbon pricing while warning that excessive retroactive measures could have negative unintended consequences.
7. NYK Takes Delivery of Third Methanol-Fueled Tanker
Japanese shipping group NYK has taken delivery of a third methanol-fueled chemical tanker, named Grouse Sun, from Hyundai Mipo Dockyard in Korea.
The ship was handed over April 19th to Singapore-based owner NYK Bulkship (Asia), an NYK Group company, and will enter into a long-term charter to Waterfront Shipping, under NYK Shipmanagement management. https://gcaptain.com/nyk-takes-delivery-of-third-methanol-fueled-tanker/
8. US poised to be top LNG exporter in 2022
Following record American LNG exports last year, the US is poised to become the world’s top LNG exporter in 2022, surpassing Australia and Qatar.
Annual US LNG exports are forecast to grow by over 25% — about 2.4 billion cubic feet per day (bcfd) — to reach an average of 12.2 bcfd this year, according to the US Energy Information Administration (EIA). The EIA says US LNG exports will grow another 0.5 bcfd in in 2023. https://www.rivieramm.com/news-content-hub/us-poised-to-be-top-lng-exporter-in-2022-70750
9. Energy regulators urge ‘careful consideration’ of hybrid offshore windfarms
Europe’s energy regulators, represented by the EU Agency for the Cooperation of Energy Regulators (ACER) and the Council of European Energy Regulators (CEER), have raised questions about elements of the European Commission’s strategy to harness the potential of offshore renewable energy https://www.rivieramm.com/news-content-hub/energy-regulators-urge-careful-consideration-of-hybrid-offshore-windfarms-7072
10. Baltic Index Gains 1.3% On Higher Rates Across Vessels
The Baltic Exchange’s dry bulk sea freight index, tracking rates for ships ferrying dry bulk commodities, rose on Wednesday led by gains across vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 27 points, or 1.3%, to 2,142 points, the highest in more than two weeks.
The capesize index jumped 21 points, or 1.6%, to 1,363 points.
Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, increased by $178 to $11,305. https://www.shippingtribune.com/news/shipping/Baltic+index+gains+1.3%25+on+higher+rates+across+vessels