1. BSM’s Fleet Performance Centre supports owners to meet upcoming EEXI and CII Compliance
With new IMO regulations on Energy Efficiency Existing Ship Index and Carbon Intensity Indicator taking effect in 2023, BSM’s extended Fleet Performance Centre is supporting ship owners’ efforts in reducing their vessels’ carbon impact. https://cyprusshippingnews.com/2022/07/26/bsms-fleet-performance-centre-supports-owners-to-meet-upcoming-eexi-and-cii-compliance/
2. South Korean shipbuilders exposed to Russia-related Risks
South Korean shipbuilders’ contracts with Russia are being mentioned as a factor that may hinder their profitability improvement. They are aiming to turn a profit next year, but any payment failure on the part of Russian shipowners may delay the schedule. At present, contracts with Russia total US$5 billion in Samsung Heavy Industries, US$2.5 billion in Daewoo Shipbuilding & Marine Engineering, and US$550 million in Hyundai Samho Heavy Industries. https://cyprusshippingnews.com/2022/07/26/south-korean-shipbuilders-exposed-to-russia-related-risks/
3. Draft Convention on the effect of judicial sales of vessels approved by UNCITRAL
The United Nations Commission on International Trade Law approved on 30 June 2022 a draft convention on the effect of judicial sales. The Draft Convention will now be put to the United Nations General Assembly to consider signature. The Draft Convention originated from a long-standing project of the Comité Maritime International commenced in 2007 and eventually known as the ‘Beijing Draft’ which was adopted by the CMI in its 2014 Hamburg Conference. In 2018, the Draft Convention was accepted by UNCITRAL into its work programme.
4. IAPH statement on the current situation facing Ukrainian ports
IAPH welcomes the international agreement reached last Friday to establish a humanitarian maritime corridor which should enable ships to export essential cargoes of grain and foodstuffs from Ukrainian seaports. These products are critical in terms of addressing the global food crisis and alleviating the suffering of millions of people around the world. https://cyprusshippingnews.com/2022/07/26/iaph-statement-on-the-current-situation-facing-ukrainian-ports/
5. Kosmos Energy awards subsea contract to Schlumberger and Subsea 7 alliance
Kosmos Energy Gulf of Mexico Operations has awarded an engineering, procurement, construction and installation (EPCI) contract for the Odd Job field in the Gulf of Mexico to Subsea Integration Alliance, a global alliance of Subsea 7 and Schlumberger’s subsea technologies, production and processing systems business, OneSubsea. https://splash247.com/kosmos-energy-awards-subsea-contract-to-schlumberger-and-subsea-7-alliance/
6. Furetank adds to dual-fuel product tanker orderbook
Swedish shipowner Furetank has placed an order at China Merchants Jinling Shipyard in Yangzhou for a new dual-fuel product tanker that will become the eleventh vessel in the company’s Vinga-class series. The 17,999 dwt newbuild will run on liquefied natural gas (LNG) and liquefied biogas (LBG) and sport a battery hybrid solution as well as several features that reduce fuel and energy consumption, the company said. https://splash247.com/furetank-adds-to-dual-fuel-product-tanker-orderbook/
7. Parties in West Coast Port Labor Negotiations Report Progress on Health Benefits
Parties involved in the U.S. West Coast port labor talks have announced a tentative agreement on health benefits as negotiations on other issues continue in overtime.
The International Longshore and Warehouse Union (ILWU), representing longshore workers, and employers represented by the Pacific Maritime Assocation (PMA) issued a joint statement on Tuesday announcing the tentative deal on what the statement described as “an important part of the contract.” https://gcaptain.com/parties-in-west-coast-port-labor-negotiations-report-progress-on-health-benefits/
8. U.S. LNG Exports to Europe On Track to Surpass Biden Pledge
When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with skepticism. After all, the U.S. LNG industry was already hitting its export limits and the global market is dominated by long-term contracts that can dictate where exported gas would go for twenty years at a time. https://gcaptain.com/u-s-lng-exports-to-europe-on-track-to-surpass-biden-pledge/
9. Drop-in biofuel pilot project to test supply chain
The pilot programme is expected to run for 12 to 18 months beginning 1 August 2022, and will see biofuel blends tested across vessels in the container, tanker and bulker segments travelling on fixed and tramp routes. The 12 vessels involved in the pilot programme are all running on MAN Energy Solutions’ two-stroke engines and will be operating “under business-as-usual conditions,” according to a statement from GCMD. https://www.rivieramm.com/news-content-hub/drop-in-biofuel-pilot-project-to-test-supply-chain-72166
10. Baltic index dips to 2-week low as all segments slip
The Baltic Exchange’s main sea freight index fell to a nearly two-week low on Tuesday as rates across its vessel segments declined. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 53 points, or 2.5%, to 2,061 points, the lowest since July 14.