1. New biofuels partnerships and first supply in the Middle East for Monjasa
Oil and shipping group, Monjasa, has successfully completed its first blending and supply of marine biofuels in the UAE. The project was carried out in close collaboration with international energy company, Uniper and biofuel producer Neutral Fuels. https://cyprusshippingnews.com/2022/05/04/new-biofuels-partnerships-and-first-supply-in-the-middle-east-for-monjasa/?amp=1
2. Cyprus targets to export natural gas by 2026 says Natasa Pilides, Minister of Energy, Commerce and Industry
Cyprus is targeting first natural gas exports by 2026 via the “Aphrodite” gas field, Minister of Energy, Commerce and Industry Natasa Pilides has said. Speaking after a hearing of the parliamentary committee of Commerce, Pilides said there are many options concerning natural gas infrastructures, one of which is a pipeline connecting the Cypriot gas fields with Egypt, either a joint pipeline with Israeli gas fields or separately. https://cyprusshippingnews.com/2022/05/04/cyprus-targets-to-export-natural-gas-by-2026-says-natasa-pilides-minister-of-energy-commerce-and-industry/?amp=1
3. 500 seafarers remain trapped on vessels stuck in Ukrainian ports, 1,500 evacuated since March
Just under 500 seafarers remain sheltered awaiting evacuation onboard 109 ships at Ukrainian ports in the Black Sea and the Sea of Azov, down from 2,000 six weeks ago.
Three quarters of the seafarers trapped in Ukrainian ports have now been evacuated from their stranded vessels, according to new data gathered by the International Chamber of Shipping, collated in association with the IMO. https://cyprusshippingnews.com/2022/05/04/500-seafarers-remain-trapped-on-vessels-stuck-in-ukrainian-ports-1500-evacuated-since-march/?amp=1
4. Focusing on Total Cost of Ownership brings substantial savings to ferry owners
Are you planning a new ferry build? If the answer is yes, then you would probably want to optimise your costs by focusing on the Total Cost of Ownership (TCO) instead of kW-power. Choosing the propulsion unit based mainly on Capex, for example, will most likely increase costs in the long run. In this article we present a case study, showing that a ferry owner can save more than two million euros over a 15-year period by concentrating on the TCO. https://cyprusshippingnews.com/2022/05/04/focusing-on-total-cost-of-ownership-brings-substantial-savings-to-ferry-owners/?amp=1
5. Europe readies further Russian shipping bans
The European Commission’s plans to ban Russian oil imports into the continent this year, as reported by Splash yesterday, are set to face a very significant fallout for shipping. Reuters is reporting that the European Commission has proposed to ban from June all shipping, brokerage, insurance and financing services offered by EU companies for the transport of Russian oil worldwide. Citing an unnamed EU official as a source, the shipping and ship services ban would apply to Russian exports of oil worldwide, albeit that Russian exporters could still source such services from outside the bloc. https://splash247.com/europe-readies-further-russian-shipping-bans/
6. Safesea turns its attention to Ceylon Shipping Corporation
According to the Economic Times of India, Safesea has lodged a bid to take a 40% stake in Ceylon Shipping Corporation, a state-run company, that like the nation of Sri Lanka, finds itself in financial trouble at the moment. Both Safesea and Ceylon Shipping have confirmed the bid to create a public-private partnership has been lodged. https://splash247.com/safesea-turns-its-attention-to-ceylon-shipping-corporation/
7. Maritime Software Consolidation: Veson Nautical Acquires Q88
Maritime freight software firm Veson Nautical on Wednesday announced its acquisition of Q88, an information management and software platform for the maritime transportation industry, combining two well-known brands in maritime data and software.
Veson said the acquisition will further its growth strategy and ambition to be the standard platform that propels maritime commerce. https://gcaptain.com/maritime-software-consolidation-veson-nautical-acquires-q88/
8. Marine Insurance Industry Braces for More Risk
The marine insurance industry is bracing to meet an expected upswing in multidimensional risk across product lines.
That is the consensus of many panelists speaking Tuesday at the Marine Insurance Americas conference in New York. Rising inflation is among the most prominent emerging risks. It increases the cost to settle valid marine casualty and damaged cargo claims. https://gcaptain.com/marine-insurance-industry-braces-for-more-risk/
9. GE, HSM Offshore Energy agree further collaboration on AC substation projects
GE’s Grid Solutions business, and platform and module builder HSM Offshore Energy have signed a memorandum of understanding (MoU) to work together on AC substation projects for the global offshore wind industry. GE Grid Solutions president and chief executive Philippe Piron said, “We are pleased to strengthen our collaboration with HSM Offshore Energy. Together we offer complementary expertise to support AC offshore wind substations projects across the market. https://www.rivieramm.com/news-content-hub/ge-hsm-offshore-energy-agree-further-collaboration-on-ac-substation-projects-70953
10. China’s Sinochem Supplies Its First Bonded LSFO Bunker In Zhoushan: Source
China’s state-owned Sinochem completed its first two bonded bunkering deals in Zhoushan on May 2, a step toward boosting its bonded bunkering business, a source with knowledge of the matter said May 4. The two deals were to refuel the international vessels Emma and Priscilla Venture, each with 1,000 mt with low sulfur bunker fuel oil, the source said.
The LSFO barrels were produced by Zhejiang Petroleum & Chemical in Zhoushan and use the private refiner’s fuel oil export quota for tax rebate or tax exemption. https://www.shippingtribune.com/news/shipping/China%E2%80%99s+Sinochem+supplies+its+first+bonded+LSFO+bunker+in+Zhoushan%3A+source
