1. Award ceremony of the student competition with the theme: «The Comparative Advantages of Cypriot Shipping in Relation to Competition – WE SAIL THE FLAG»
The Award Ceremony of the Student Research Competition with the theme: “The Comparative Advantages of Cyprus Shipping in Relation to Competition – WE SAIL THE FLAG” was crowned with great success, which took place on Thursday, May 19, 2022, in the Reception Hall of the Of Culture, Sports and Youth. https://cyprusshippingnews.com/2022/05/23/award-ceremony-of-the-student-competition-with-the-theme-the-comparative-advantages-of-cypriot-shipping-in-relation-to-competition-we-sail-the-flag/
2. Impact of Russia’s invasion of Ukraine on the port of Rotterdam
The war in Ukraine has prompted the European Union and other bodies to impose a number of sanctions on Russia. The extensive import of energy (crude oil, oil products, LNG, coal) is not (yet) affected by sanctions, but the export and transhipment of containers in particular suffers from the uncertainty caused by the war and the sanctions. https://cyprusshippingnews.com/2022/05/23/impact-of-russias-invasion-of-ukraine-on-the-port-of-rotterdam-2/
3. Qatar and Germany sign agreement on Energy Partnership
Qatar’s Minister of State for Energy Affairs, His Excellency Saad Sherida Al-Kaabi, and the German Minister for Economic Affairs and Climate Action, Dr. Robert Habeck, today signed a Joint Declaration of Intent to further promote the cooperation between the two countries in the field of energy. The agreement builds on the ongoing successful dialogue between the two countries and is expected to develop into a mutually beneficial Energy Partnership between Qatar and Germany through building LNG trade relations as well as pursuing the climate action ambitions of both countries. https://cyprusshippingnews.com/2022/05/23/qatar-and-germany-sign-agreement-on-energy-partnership/
4. SAILCARGO purchases new ship as a step closer to clean shipping
SAILCARGO INC. has purchased the cargo vessel S/V Vega Gamleby. Vega will sail approximately 148 cubic metres (or 82 tons) of green coffee beans and other dry goods between Colombia and the United States. The Swedish ship will commence her delivery voyage across the Atlantic Ocean in mid-May, 2022. The first cargo will be coffee beans, transported for Canadian coffee importer Café William and will sail in the fourth quarter of 2022. https://cyprusshippingnews.com/2022/05/23/sailcargo-purchases-new-ship-as-a-step-closer-to-clean-shipping/
5. Japanese power transfer ship developer seals $32m funding
Japanese power transfer vessel developer PowerX has raised ¥4.1bn ($32.5m) to fund its project to carry electricity from offshore wind farms to shore in containerised batteries by 2025. The financing round was co-led by Spiral Capital and Nippon Gas, and also involved the likes of Mitsui & Co. and banks MUFG and Mizuho Capital. PowerX said it would use the funds for the construction of a battery assembly facility and research and development efforts. https://splash247.com/japanese-power-transfer-ship-developer-seals-32m-funding/
6. Rio Tinto and BP launch one-year biofuel trials
Mining giant Rio Tinto will be working with BP on a one-year biofuel trial to help reduce carbon emissions from its fleet. Under the deal, BP will be supplying biofuel for Rio Tinto’s 2013-built capesize bulker RTM Tasman on a mix of Transatlantic and Atlantic-Pacific routes, in what is said to be one of the longest-duration marine biofuel trials to date. https://splash247.com/rio-tinto-and-bp-launch-one-year-biofuel-trials/
7. Maersk Supply Service AHTS to Support Ocean Plastics Cleanup Effort for Another Year
Two anchor-handling tugs belonging to Maersk Supply Service will return to the Great Pacific Garbage Patch having extended their contract with The Ocean Cleanup for an additional year. The Dutch green tech company is developing and scaling plastic-harvesting technologies to rid the oceans of floating plastic, starting with the world’s largest accumulation of ocean plastic—the Great Pacific Garbage Patch. https://gcaptain.com/maersk-supply-service-ahts-to-support-ocean-plastics-cleanup-effort-for-another-year/
8. Long Beach Port Chief Doesn’t See Labor Deal by July 1 Deadline
“I have confidence that the two parties know what’s at stake here,” Port of Long Beach Executive Director Mario Cordero said on Bloomberg Television on Friday. “They will resolve their differences within a reasonable time. It’s not going to be before July 1. But I think we may be looking to a couple of months thereafter. On that front, I’m optimistic.” https://gcaptain.com/long-beach-port-chief-doesnt-see-labor-deal-by-july-1-deadline/
9. US to ease sanctions on Venezuela to make oil market less volatile
The United States previously imposed sanctions on Venezuela including its oil industry – the main source of the country’s wealth – blocking the purchase of petroleum from Venezuela’s state oil company, PDVSA and forcing the closure of its US subsidiary, CITGO. https://www.rivieramm.com/news-content-hub/us-to-ease-sanctions-on-venezuela-in-a-bid-to-make-oil-market-less-volatile-71239
10. Premium Bookings Limited Amid Ample Vessel Capacity, Weak Demand
All-inclusive premium rates on the Asia-North America trade continued their weak positioning during the week to May 20 as demand for Asian goods remained muted, and healthy capacity availability was reported in loading regions.
However, as lockdowns in and around Shanghai are set to be loosened in the coming weeks, sources are already reporting an uptick in booking appetite, and some suggest that rates may begin to escalate. https://www.shippingtribune.com/news/shipping/Premium+bookings+limited+amid+ample+vessel+capacity%2C+weak+demand
