1. Aurus Ship Management and Columbia Shipmanagement to join forces as ‘Columbia Aurus Ship Management’ India
Columbia Aurus Ship Management will tap into the Indian crewing market to further consolidate Columbia’s march eastwards.
Columbia Shipmanagement (CSM) has signed an agreement with Aurus Ship Management to explore various ship management opportunities in the Indian market.
As part of the agreement, Aurus Ship Management will be renamed Columbia Aurus Ship Management (CASM) and will work to become the leading provider of maritime services in the Indian market. https://cyprusshippingnews.com/2022/06/13/aurus-ship-management-and-columbia-shipmanagement-to-join-forces-as-columbia-aurus-ship-management-india/
2. Chevron completes acquisition of Renewable Energy Group
“We have brought together companies with complementary capabilities, assets, and customer relationships to make Chevronone of the leading renewable fuels companies in the United States,” said Mark Nelson, executive vice president of Downstream & Chemicals for Chevron. “Chevron now offers our customers an expanded suite of cost-effective, lower carbon solutions that utilize today’s fleets and infrastructure.” https://cyprusshippingnews.com/2022/06/13/chevron-completes-acquisition-of-renewable-energy-group/
3. QatarEnergy selects TotalEnergies as its first partner in the North Field East expansion project
QatarEnergy announced that it has selected TotalEnergies as its first international partner in the North Field East (NFE) expansion project, the single largest project in the history of the LNG industry. The announcement comes at the conclusion of a competitive process that started in 2019 to select QatarEnergy’s international partners in the NFE project, which will expand Qatar’s LNG export capacity from the current 77 million tons per annum (MTPA) to 110 MTPA. The $28.75 billion NFE project, expected to start production before the end of 2025, employs the highest health, safety, and environmental standards, including carbon capture and sequestration, to reduce the project’s overall carbon footprint to the lowest levels possible. https://cyprusshippingnews.com/2022/06/13/qatarenergy-selects-totalenergies-as-its-first-partner-in-the-north-field-east-expansion-project/
4. Beijing tightens COVID curbs, average container prices decline in China
For the first time this year in May, the average container prices globally have soared month on month at an average of 5.4% (from $2207 to $2330) for the 20 ft DC and by 15% (from $3800 to $4410) for 40 ft HC. However, the average container prices and the leasing rates continue to decline in China even as the country reopens after massive two months of lockdowns. https://cyprusshippingnews.com/2022/06/13/beijing-tightens-covid-curbs-average-container-prices-decline-in-china/
5. Cosco Shipping Specialized Carriers seals 12 pulp carrier newbuilds
Cosco Shipping Specialized Carriers, a unit of Cosco Shipping Group, has reached an agreement with three Chinese leasing companies worth around $1.1bn to charter in 12 multipurpose pulp carrier newbuilds for up to 15 years.
The 70,000 dwt ships will be built by Cosco Dalian Shipyard for Bank of Communications Financial Leasing (BoComm Leasing), China Merchants Bank Financial Leasing (CMB FL) and SPDB Financial Leasing (SPDB FL). https://splash247.com/cosco-shipping-specialized-carriers-seals-12-pulp-carrier-newbuilds/
6. BP acquires interest in Bay du Nord project offshore Newfoundland
In Canada, BP will no longer have interests in oil sands production and will shift its focus to future potential offshore growth. The company currently holds an interest in six exploration licences in the offshore eastern Newfoundland region. The non-operated stake in the Bay du Nord project will expand BP’s position offshore eastern Canada. https://splash247.com/bp-acquires-interest-in-bay-du-nord-project-offshore-newfoundland/
7. Ocean Shipping Reform Act Headed to President Biden’s Desk After Passing House
The U.S. House of Representatives has voted 369 to 42 to pass the Senate’s version of the bipartisan Ocean Shipping Reform Act, designed to give the government’s shipping competition commission with greater authority to help U.S. exporters. President Biden has indicated he is eager to sign the bill into law.The bill, which was introduced in the Senate in February by Senator Amy Klobuchar (D-MN), gives the Federal Maritime Commission (FMC), the independent federal agency responsible for the regulation of international ocean shipping, greater authority to regulate certain ocean carrier practices and to promote the growth and development of U.S. exports “through a maritime system that is transparent, efficient, and fair.” Text of the bill can be found here. https://gcaptain.com/ocean-shipping-reform-act-headed-to-president-biden-desk-after-passing-house/
8. Baltic Dry Index Falls to 2-Month Low
The Baltic Exchange’s main sea freight index extended its retreat on Monday, touching a near two-month low as vessel segments dipped.
Lower Baltic rates would normally signal lower shipping costs, but in the wake of the coronavirus pandemic the price to transport of goods and raw materials by sea has rocketed as a result of supply disruptions and bottlenecks. https://gcaptain.com/baltic-dry-index-falls-to-2-month-low/
9. Ships demonstrate AI-driven autonomous routeing
Artificial intelligence and machine learning enable unmanned transoceanic voyages and collision avoidance using autonomous navigation technologies
Completed voyages by ships using artificial intelligence (AI) for navigation this year have demonstrated how far the shipping industry has come towards autonomous sailing, but also how much further it still must go. https://www.rivieramm.com/news-content-hub/ships-demonstrate-ai-driven-autonomous-routeing-71551
10. Iran Tests New Trade Corridor To Ship Russian Goods to India
Iran’s state-run shipping company said it started its first transfer of Russian goods to India, using a new trade corridor that transits the Islamic Republic, an Iranian port official said.
The Russian cargo consists of two 40-foot (12.192 meters) containers of wood laminate sheets, weighing 41 tons, that departed St. Petersburg for the Caspian Sea port city of Astrakhan, the state-run Islamic Republic News Agency said on Saturday, citing Dariush Jamali, director of a joint-owned Iranian-Russian terminal in Astrakhan. https://www.shippingtribune.com/news/shipping/+Iran+Tests+New+Trade+Corridor+To+Ship+Russian+Goods+to+India+