1. Capitalism, the epitome of risk taking as seen by Anastasios Maraslis
Well, now I got your attention let’s delve into risk taking and its link with Capitalism. In a democratic, capitalistic society, the world is characterized by economic change, plethora of information, imperfect knowledge, business uncertainty and opportunities for profit. Can you imagine living in a world of stationary economy, where you knew what to expect, your future perfectly predicted and pre-determined, owning nothing and, all your basic, survival needs, were provided for free by your government, for everyone the same? There would be no uncertainty, no risk, and no profit. https://cyprusshippingnews.com/2022/05/16/capitalism-the-epitome-of-risk-taking-as-seen-by-anastasios-maraslis/
2. IMO supports Kenya to develop National Maritime Security Risk Register
To address this, thirty participants from multiple Kenyan Government Ministries and Agencies with responsibility for maritime security policy and operational implementation are taking part in a five-day IMO-sponsored workshop (9-13 May). They will assist the Kenyan Government in the development of its National Maritime Security Risk Register. https://cyprusshippingnews.com/2022/05/16/imo-supports-kenya-to-develop-national-maritime-security-risk-register/
3. PGNiG to sign another long-term contract for the supply of American LNG
PGNiG has signed Heads of Agreement with Sempra Infrastructure defining the main provisions of a purchase and sale agreement for 3 million tons of liquefied natural gas (LNG) per annum. The LNG would be sourced from two liquefaction terminals in the Gulf of Mexico and would come to Poland, among others, via a floating regasification terminal in the Gulf of Gdansk. https://cyprusshippingnews.com/2022/05/16/pgnig-to-sign-another-long-term-contract-for-the-supply-of-american-lng/
4. Carrier Transicold crosses Milestone, with over 1.5 Million Refrigeration units sold
“On any given day, Carrier Transicold container refrigeration units help protect more than $11 billion worth of perishable food and medicine traveling around the world,” said Tim White, President, Refrigeration, Carrier. “We introduced the industry’s first ‘picture-frame’ front wall container refrigeration unit in 1968 and have continued to innovate ever since. In 2008, we launched our PrimeLINE® unit that has led the industry for 15 years. We are focused on increasing energy efficiency, sustainability, high-quality products, services and connected solutions for our customers.” https://cyprusshippingnews.com/2022/05/17/carrier-transicold-crosses-milestone-with-over-1-5-million-refrigeration-units-sold/
5. MLC updates bring internet access for all
Seafarers’ groups have won the right to mandatory social connectivity for crews –including internet access – in updates to the Maritime Labour Convention 2006 (MLC), but are disappointed that shipowners and governments may seek to charge for it.
The MLC is an international treaty designed to protect seafarers’ rights and has been ratified by more than 100 countries, who represent over 90% of the world fleet. https://splash247.com/mlc-updates-bring-internet-access-for-all/
6. New report highlights scale of shipping’s renewable challenge
The scale of shipping’s green transition has been put into sharp relief with new data from Germany’s University of Applied Sciences showing the global shipping industry will require the equivalent of the world’s entire current renewable energy demand in order to replace fossil fuel use. https://splash247.com/new-report-highlights-scale-of-shippings-renewable-challenge/
7. Coast Guard: SpaceX Rocket Launch Cancelled After Royal Caribbean Cruise Ship Entered Safety Zone
A U.S. Coast Guard investigation has concluded that a Royal Caribbean International cruise ship violated a Coast Guard Captain of the Port safety zone and caused the cancellation of a SpaceX rocket launch from Cape Canaveral, Florida back in January.
The Harmony of the Seas got underway from Port Canaveral and began its voyage towards the Bahamas when it entered a safety zone established by the Captain of the Port of Jacksonville, designed to ensure the safety of the public during the Cosmo Skymed rocket launch, without proper authorization. https://gcaptain.com/coast-guard-spacex-rocket-launch-cancelled-after-royal-caribbean-cruise-ship-entered-safety-zone/
8. CMA CGM Launches Early Container Return Incentive
CMA CGM has announced plans to implement an industry-first incentive program designed to encourage the early return of empty containers and help exporters get the equipment needed.
The program, which launches today to U.S. customers, gives customers who return empty containers early a $300 credit per dry container to either the FMS terminal in Los Angeles or one of four CMA CGM return locations across the country (Chicago, IL; Dallas, TX; Kansas City, KS; and Memphis, TN). https://gcaptain.com/cma-cgm-launches-early-container-return-incentive/
9. MPA and K-Line to develop ammonia bunkering infrastructure
Japanese shipping firm Kawasaki Kisen Kaisha (K-Line) and Singapore’s Maritime and Port Authority of Singapore (MPA) have joined an industry consortium developing an ammonia bunker supply chain in Singapore
The consortium, whose members include AP Møller Mærsk, Fleet Management Ltd, Keppel Offshore & Marine, The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, Sumitomo Corp and American Bureau of Shipping (ABS), launched a feasibility study in March 2021 on developing an ammonia bunkering chain. https://www.rivieramm.com/news-content-hub/mpa-and-k-line-join-effort-to-develop-ammonia-bunkering-infrastructure-71147
10. Baltic Index Dips For Second Consecutive Session On Lower Vessel Rates
The Baltic Exchange’s main sea freight index fell for the second consecutive session on Monday due to weaker rates for all vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 19 points, or 0.6 %, at 3,085 points. The capesize index lost 18 points, nearly 0.5%, at 3,929 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $152 to $32,581. https://www.shippingtribune.com/news/shipping/Baltic+index+dips+for+second+consecutive+session+on+lower+vessel+rates