1. Safe Bulkers announces agreement for the acquisition of one Capesize Class Dry-bulk Vessel
Safe Bulkers an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the acquisition of a 2012-built, Chinese, dry-bulk, 176,000 dwt, Capesize class vessel, to be named MV Aghia Sofia, with delivery date within August 2022, upon completion of its scheduled dry docking by its current owners, which includes ballast water treatment installation, sandblasting and painting of cargo holds and environmental upgrading with ultra-low friction paints, as per our requirements. The vessel will be acquired at a gross purchase price of $31.75 million and will be financed from the cash reserves of the Company. http://cyprusshippingnews.com/2022/05/27/safe-bulkers-announces-agreement-for-the-acquisition-of-one-capesize-class-dry-bulk-vessel/
2. Congestion at the port of Shanghai remains high for the time of year, but is steadily normalising as the city’s Covid wave subsides
VesselsValue data shows average waiting times for Tankers, Bulkers and Containerships at the port are now down to 34 hours, from a peak of 66 hours at the height of reported Omicron case in late April, as shown in Figure 1 below. This is around 10 hours longer than levels this time last year, and the higher end of the three year range. But a resumption of the downward trend, after a slight blip in mid May, will welcome relief for supply chain planners in the region and around the world. https://cyprusshippingnews.com/2022/05/27/congestion-at-the-port-of-shanghai-remains-high-for-the-time-of-year-but-is-steadily-normalising-as-the-citys-covid-wave-subsides/
3. Maritime industry encouraged to come together to support MCTC’s Cooks Day initiative
Leading international and catering management provider MCTC is encouraging the industry to join them in recognising the crucial role of the cook onboard vessels with the very first Cooks Day celebration on Monday .
MCTC launched the initiative in March and has been urging the industry to join them in recognising and appreciating the role of the cook, who are ‘the backbone of every vessel’, says CEO of MCTC Christian Ioannou. https://cyprusshippingnews.com/2022/05/27/maritime-industry-encouraged-to-come-together-to-support-mctcs-cooks-day-initiative/
4. Signing of a Memorandum of Understanding between National Technical University of Athens and CMMI
The bilateral cooperation will be implemented through the exchange of information, data, knowledge and good practices, as well as through joint participation in research schemes and programs. It is worth noting that the research collaboration has already begun and, in addition, that from this year CMMI is hosting NTUA students for their internship.
5. Iran seizes two Greek-flagged tankers
Iranian forces detained two Greek-flagged tankers in the Persian Gulf on Friday following the seizure of Iranian oil by the US from a tanker anchored off the Greek island of Evia in the Aegean Sea over alleged sanctions violations in the Mediterranean Sea.
The Iranian state news agency Irna said that the Revolutionary Guards Navy seized two Greek tankers for violations in Gulf waters.
6. Green light for North and Standard P&I merger
The proposed merger of two of Britain’s best known P&I clubs, North P&I Club and Standard Club, has been given the go-ahead following a vote at separate member meetings on Friday.
The two clubs announced their intention to merge in March, with initial voting among members being overwhelmingly in favour of the combination. The merger will create one of the largest providers of mutual cover in the maritime industry, with consolidated annual premiums of around $750m. https://splash247.com/green-light-for-north-and-standard-pi-merger/
7. Russian Oligarch’s Megayacht Location Is Turned Back On After Going Dark For 12 Days
A $150-million ultra-luxurious superyacht tied to Russia’s second-richest citizen Leonid Mikhelson, who is facing sanctions, reappeared after nearly two weeks without broadcasting its location. Its final destination is unclear.
The 85-meter (280 feet) Pacific, which can accommodate two helicopters, is cruising in the Mediterranean Sea north of Benghazi, Libya, after reappearing near the Canary Islands on May 20, when its location transponder was turned on again, vessel data compiled by Bloomberg News show. https://gcaptain.com/russian-oligarchs-megayacht-location-is-turned-back-on-after-going-dark-for-12-days/
8. Several Factors Point To Shipping Being A Leading Cause Of Whale Shark Deaths
Over 80% of international trade is carried by sea. Much of what we use and consume everyday either has been or will be transported on huge vessels which plough the global ocean.
The courses these container vessels take are fixed shipping routes known as marine highways, which are not unlike motorways on land. These highways, which vessels travel back and forth, connect distant ports, often on opposite sides of vast oceans https://gcaptain.com/several-factors-point-to-shipping-being-a-leading-cause-of-whale-shark-deaths/
9. UK Government rolls out taxes and incentives for oil and gas
The head of the UK Treasury, Chancellor of the Exchequer Rishi Sunak, announced a 25% windfall tax on oil and gas company profits as part of a fiscal package of policies aimed at assisting UK residents in paying for spiralling energy costs that are driving historic inflation rates.
The tax, dubbed the Energy Profits Levy, comes with what the UK Government called a “generous investment allowance built in” to encourage investment in oil and gas extraction projects in the UK. https://www.rivieramm.com/news-content-hub/uk-government-rolls-out-taxes-and-incentives-for-oil-and-gas-71351
10. LNG Shines Light on the Future Fuel Pathway for International Shipping
LNG has gained significant traction in international shipping! It is clearly one of the signs of this fossil-derived fuel overcoming controversies surrounding its green credentials, and how it is able to maintain its place as a primary energy source well into the net-zero emission future.
The year 2021 has already witnessed a record high of nearly 200 LNG-fueled vessels placed with shipyards, according to leading classification society, DN Alternative Fuel Insight portal.
Globally, LNG-fueled new-builds on order exceeded 240 strong at the end of last year, out-numbering 48 for those with LPG, 22 for methanol and just four for hydrogen, according to DNV data. https://www.shippingtribune.com/news/shipping/LNG+Shines+Light+on+the+Future+Fuel+Pathway+for+International+Shipping