1. International Chamber of Shipping and Suez Canal Authority sign landmark agreement to enhance cooperation
The International Chamber of Shipping (ICS) and Egypt’s Suez Canal Authority (SCA) have signed a Memorandum of Understanding (MOU) covering key issues impacting international ship owners and operations of the Suez Canal.
The yearlong commitment, signed during a meeting at the SCA head office, will increase information sharing and negotiations on the movement of global trade through the Canal. It will open communication on long-term strategies for toll pricing, environmental protection, and decarbonisation. https://cyprusshippingnews.com/2022/05/13/international-chamber-of-shipping-and-suez-canal-authority-sign-landmark-agreement-to-enhance-cooperation/
2. Gasum enabled carbon dioxide emission reductions of 345,000 tonnes for their customers through biogas
Sustainability is an integral part of Gasum’s strategy to promote development towards a carbon-neutral future in industry as well as in road and maritime transport. Gasum’s responsibility work is steered by the company’s Corporate Responsibility Program and targets, which cover environmental responsibility, social responsibility, responsible business and governance. https://cyprusshippingnews.com/2022/05/13/gasum-enabled-carbon-dioxide-emission-reductions-of-345000-tonnes-for-their-customers-through-biogas/
3. Ocean Yield announced delivery of newbuilding Suezmax tanker with 10-year charter
Ocean Yield AS is pleased to announce that it has taken delivery of the newbuilding Suezmax tanker Nordic Harrier from Samsung Heavy Industries’ shipyard in South Korea.
The vessel commenced a 10-year bareboat charter to Nordic American Tankers Limited (“NAT”) upon delivery. https://cyprusshippingnews.com/2022/05/13/ocean-yield-announced-delivery-of-newbuilding-suezmax-tanker-with-10-year-charter/
4. Petrobras terminates process to sell four concessions in Sergipe-Alagoas Basin
Petrobras, Brazil’s state-owned oil company, has decided to terminate the current competitive process, which was in the binding phase, for the partial sale of four concessions located in deep waters in the Sergipe-Alagoas Basin (BM- SEAL-4, 4-A, 10 and 11). Currently, the concessions are represented by the fields of Agulhinha, Budião, Budião Noroeste, Budião Sudeste, Cavala and Palombeta. https://splash247.com/petrobras-terminates-process-to-sell-four-concessions-in-sergipe-alagoas-basin/
5. US Admiral Refuses To Submit Rape Report To Congress
Last month gCaptain reported NY Maritime College president Rear Admiral Mike Alfultis, USMS attempted to hide an external review report that contains evidence of racism and sexual harassment at his college. The leaked copy of the report was subsequently released to the students but it contained numerous redactions. Today we learned that Alfultis, a federally appointed Rear Admiral in the US Maritime Service, has refused to share the report with Congress despite receiving over $1.6 Billion in Federal Aid for the college between 2018 and 2022. https://gcaptain.com/us-admiral-rape-report-congress/
6. UK North Sea Sees Chance for Political Reprieve In Energy Crisis
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.
The government was focused on hosting the COP 26 climate talks and environmentalists were close to killing off one of the country’s largest oilfield developments, called Cambo. An industry that had excelled at prolonging its lifespan was at risk of sudden death. https://gcaptain.com/uk-north-sea-sees-chance-for-political-reprieve-in-energy-crisis/
7. Russia Denies Ukraine Forces Damaged Navy Ship In Black Sea
Russia on Saturday dismissed Ukraine’s claim it had damaged a modern navy logistics ship in the Black Sea and showed photos of what it said was the vessel with no signs of damage.
Military authorities in the southern Odesa region said on Thursday that Ukrainian naval forces had struck the Vsevolod Bobrov, setting it alight.
In an online post, the Russian defense ministry published photos it said had been taken of the ship on Saturday in the Crimean Black Sea port of Sevastopol. https://gcaptain.com/russia-denies-ukraine-forces-damaged-navy-ship-in-black-sea/
8. India Bans Wheat Exports, Adding To Global Supply Crunch
India placed a ban on exports as of May 13, blocking a huge supply from the markets at a time when global supply was already falling after Russia’s invasion of Ukraine. The Indian government restricted wheat exports to rein in domestic prices of the food grain, according to a May 14 notice from the Directorate General of Foreign Trade. The ban excludes shipments with irrevocable letter of credit issued on or before May 13. https://www.shippingtribune.com/news/shipping/India+bans+wheat+exports%2C+adding+to+global+supply+crunch
9. All-Inclusive Spot Market Rates Depressed As Shanghai Lockdown Tightens
Premium spot bookings out of Chinese baseports remained under pressure during the week to May 13 amid tenuous demand for Chinese export cargoes. As Shanghai concludes another week of coronavirus lockdowns, production capacity and resultant export volumes continued to slide — keeping rates under pressure — despite a spike in blanked sailings as ocean liners attempt to compensate a downtrend in rates. https://www.shippingtribune.com/news/shipping/All-inclusive+spot+market+rates+depressed+as+Shanghai+lockdown+tightens
10. India’s Port Ministry Finalises Guidelines For Reviving Stressed Projects
Ministry of Ports, Shipping and Waterways has finalised guidelines for early resolution of stuck public private partnership projects at major ports, an official statement said on Wednesday.
According to the statement, the aim of the guidelines is to facilitate revival of the projects falling in the category of stressed assets, and these guidelines will pave the way for resolution of the cases under arbitration. https://www.shippingtribune.com/news/shipping/India%E2%80%99s+port+ministry+finalises+guidelines+for+reviving+stressed+projects