InterManager Daily News 04.08.2022.

1. CSM Energy DSSV pressure drop vessel led expedition discovering deepest shipwreck ever identified – a US Navy ship sunk in WWII

Texan financier and adventurer Mr Vescovo was delighted to discover the USS Samuel B Roberts that went down during the Battle off Samar in the Philippine Sea in October 1944. The warship was found heavily battered but largely intact. The expedition took place over 10 days in July and was the second time the team visited the Philippine Trench in search of wrecks from WWII involved in the Battle off Samar. https://cyprusshippingnews.com/2022/08/02/csm-energy-dssv-pressure-drop-vessel-led-expedition-discovering-deepest-shipwreck-ever-identified-a-us-navy-ship-sunk-in-wwii/

2. Azule Energy, Angola’s new largest independent oil and gas producer, begins operations

Azule Energy is now Angola’s largest independent equity producer of oil and gas, holding 2 billion barrels equivalent of net resources and growing to about 250,000 barrels equivalent a day (boe/d) of equity oil and gas production over the next 5 years. It holds stakes in 16 licences (of which 6 are exploration blocks) and a participation in Angola LNG JV. Azule Energy will also take over Eni’s share in Solenova, a solar company jointly held with Sonangol, and the collaboration in the Luanda Refinery. https://cyprusshippingnews.com/2022/08/02/azule-energy-angolas-new-largest-independent-oil-and-gas-producer-begins-operations/

3. IMO welcomes first ship departure under Black Sea Grain Initiative

IMO Secretary-General Kitack Lim has welcomed the departure from Odesa of the first commercial ship to leave the port under the United Nations supported Black Sea Grain Initiative to establish a humanitarian maritime corridor for the safe passage of ships from Ukraine. The M/V Razoni is the first commercial ship to leave Ukraine’s port of Odesa since 26 February 2022. The ship is bound for the port of Tripoli, Lebanon, carrying a cargo of 26,527 tonnes of corn. https://cyprusshippingnews.com/2022/08/02/imo-welcomes-first-ship-departure-under-black-sea-grain-initiative/

4. Daewoo Shipbuilding & Marine Engineering Unionists opposed to divide and sell

Unionised Daewoo Shipbuilding & Marine Engineering (DSME) workers released a statement on Aug. 1 to express concerns on the possibility of the company being divided into several units to facilitate its sale. After the recent strike by subcontract workers that continued for 51 days, divide and sell is emerging as the most feasible privatization plan for DSME in the largest shareholder Korea Development Bank. https://cyprusshippingnews.com/2022/08/02/daewoo-shipbuilding-marine-engineering-unionists-opposed-to-divide-and-sell/

5. Port congestion spurs liner share rally, large-caps proliferate

Port congestion is sending plenty of listed liners into large-cap territory. The number of publicly-listed container carriers with a valuation of more than $10bn has risen to six this week, with two more lines following closely behind, according to the latest data from Alphaliner. https://splash247.com/liner-large-caps-proliferate/

6. Singapore and Rotterdam move to establish world’s longest green corridor

Singapore and Rotterdam have joined forces to develop the world’s longest green shipping corridor for low and zero carbon shipping. The Maritime & Port Authority of Singapore (MPA) and the Port of Rotterdam inked a memorandum of understanding to establish the green and digital corridor on the sidelines of the biennial World Cities Summit in Singapore. https://splash247.com/singapore-and-rotterdam-move-to-establish-worlds-longest-green-corridor/

7. Transocean Says Offshore Drilling Market Rebounding After ‘Extremely Challenging’ Eight Years

Transocean on Monday reported second quarter 2022 results, showing a net loss $68 million. But the company expressed optimism amid rising contracting activity, utilization rates, day rates. Contract drilling revenue rose to $692 million in the second quarter, up from $586 in the first quarter of 2022. As of July, Transocean’s contract backlog stood at $6.2 billion. https://gcaptain.com/transocean-says-offshore-drilling-market-rebounding-after-extremely-challenging-eight-years/

8. English Channel Migrants Are Still Crossing In Record Numbers

Boris Johnson’s outgoing government hoped that a new immigration law would reduce immigration by making migrants and smugglers face harsher punishments. However, more than 17,000 migrants have already made it to England this year. That’s a lot compared to the 28,500 people who were said to have crossed the border in 2021 as a whole. https://gcaptain.com/english-channel-migrants-record-numbers/

9. California Energy Commission recommends 25 GW of offshore wind by 2045

If approved by regulators on 10 August 2022, the targets outlined in an updated version of Assembly Bill 525 will be the most ambitious in the US, putting the state on a path to meeting roughly 25% of its electricity needs with offshore wind by mid-century. In late July 2022, California Governor Gavin Newsom sent a letter requesting that regulators set a target of at least 20 GW of offshore wind by 2045. The CEC has delivered on the Governor’s vision with an even higher target, having been tasked with setting targets for offshore wind development by legislation passed by the state of California last year. https://www.rivieramm.com/news-content-hub/california-energy-commission-recommends-25-gw-of-offshore-wind-by-2045-72266

10. Lower price, currency flexibility drive more Russian thermal coal to India

With India leveraging discounted Russian coal and banks adapting to facilitate trade in currencies other than the US dollar, data shows that the influx of Russian material — which has been increasing significantly — has eaten into the Indian import market of high-CV US, South African and Australian coal and experts believe that the trend is likely to continue.

https://www.shippingtribune.com/news/shipping/Lower+price%2C+currency+flexibility+drive+more+Russian+thermal+coal+to+India

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