1. Creation of a committee for the development of maritime culture and the promotion of maritime and maritime studies in Cyprus
The Cyprus Shipping Deputy Ministry announced the creation of a Committee for the development of maritime culture and the promotion of seafarers and maritime studies in Cyprus. The Committee is chaired by the Shipping Deputy Minister and will be made up of representatives of the shipping industry and more specifically of the Cyprus Shipowners’ Association, the Cyprus Shipping Chamber and the Cyprus Maritime and Maritime Institute (CMMI).
2. Singapore ranked number one shipping centre for ninth year running
Singapore has secured the top spot once again in the Xinhua-Baltic International Shipping Centre Development Index Report. It is the ninth consecutive year that the report – published jointly by Chinese state news agency, Xinhua, and global maritime data provider, the Baltic Exchange – has ranked Singapore as the global leading maritime centre.
3. Barents Blue partners award extended concept study contract
The project partners, Horisont Energi, Equinor and Vår Energi, have decided to perform additional and extended concept studies to mature and optimise the ammonia factory further. Previously it has been announced that concept studies for the clean ammonia factory planned at Markoppneset in Northern Norway have been completed. Now more detailed work will be performed by Saipem and Haldor Topsoe over the next three to four months, also providing valuable input into the impact assessment studies that are currently ongoing.
4. Maersk quits board of ICS over climate concerns
A.P. Moller-Maersk has withdrawn its board member from industry organisation International Chamber of Shipping (ICS), partly over the trade association’s stance on climate change, according to the company’s website. Maersk, one of the world’s largest shipping groups, has been part of ICS’s board for around a decade, but Maersk executive and board member Henriette Hallberg Thygesen has stepped down after an annual revision of trade association memberships. https://cyprusshippingnews.com/2022/07/11/maersk-quits-board-of-ics-over-climate-concerns/
5. Shell to shut down Prelude FLNG over industrial dispute
Shell is shutting down production at its Preludefloating liquefied natural gas (FLNG) facility offshore Western Australia due to unions’ escalating industrial action. The operator said on Monday it would not be able to supply cargoes until at least July 21 and that it would be sending workers off the huge FLNG vessel as work stoppages were affecting the company’s ability to moor carriers at the site to pick up LNG cargoes. https://splash247.com/shell-to-shut-down-prelude-flng-over-industrial-dispute/
6. Euronav and Frontline sign definitive combination agreement, plan Cyprus relocation
Belgium’s Euronav today entered into a definitive combination agreement with Frontline, bringing John Fredriksen’s dream tanker merger one step closer. New details of the merger show the Euronav brand will disappear and the new entity would be based in Cyprus, an island where Fredriksen has built much of his shipping empire over the past few decades. https://splash247.com/euronav-and-frontline-sign-definitive-combination-agreement-plan-cyprus-relocation/
7. Post Maintenance Shutdown, Nord Stream Gas Flow To Germany Is Unknown
Germany is in the dark about how much gas Russia will pump through the Nord Stream 1 pipeline after the end of a 10-day maintenance shutdown that started on Monday, Germany’s energy regulator told Reuters. Governments, markets and companies worry that the shutdown might be extended because of the war in Ukraine, which has triggered an economic standoff between the West and Russia and fears of gas shortages and soaring energy bills. https://gcaptain.com/post-maintenance-shutdown-nord-stream-gas-flow-to-germany-is-unknown/
8. Could The U.S. Ship More LNG To Europe?
The United States, the world’s top natural gas producer, wants to send more liquefied natural gas (LNG) to Europe to help its allies break their dependence on Russian gas after Moscow invaded Ukraine on Feb. 24.
But U.S. exports are limited by the country’s liquefaction capacity and an ongoing outage at Freeport LNG’s plant after the second-biggest U.S. LNG export facility was hit by fire in June. https://gcaptain.com/could-the-u-s-ship-more-lng-to-europe/
9. Baltic sea freight index falls for fourth straight sessions
THE Baltic Exchange’s main sea freight index fell for the fourth straight session to a 12-week low due to low demand, reports Reuters. The overall index fell 55 points, or 2.6 per cent, to 2,043 points, its lowest since April 12. The capesize index dropped 84 points, or four per cent, to 2,000 points, its lowest since April 22. Average daily earnings for capesizes fell US$695 to $16,588. https://www.shippingtribune.com/news/shipping/Baltic+sea+freight+index+falls+for+fourth+straight+sessions
10. Russia soon top oil seller to India, world’s No 3 market
RUSSIA is edging towards becoming the largest supplier of oil to India, delivering one million and 1.2 million barrels a day to the world’s third-largest oil importer, reports Bloomberg. “When the price goes up and you are left with no option, you will buy from anywhere,” said Indian Oil Minister Hardeep Singh Puri. “We have a very well defined understanding of what India’s interests are.”
