1. New Chief Executive appointed at Singapore’s Maritime Port Authority
Singapore’s Ministry of Transport has appointed Mr Teo Eng Dih, currently Deputy Secretary (Policy) of the Ministry of Defence (MINDEF), to replace outgoing Chief Executive of the Maritime and Port Authority of Singapore (MPA), Ms Quah Ley Hoon, who will be stepping down on 5 September 2022.
2. Evergreen Marine obtains double certification for its Greenhouse Gas Emission Inventory
In order to implement the company’s environmental protection policy and carbon reduction goals, Evergreen Marine Corp. has completed a systematic inspection and calculation of greenhouse gas emission inventories for its business operations, including its global operating fleet, office buildings and container terminals in Taiwan. The methodology and results of the survey were recently certified by BSI (British Standards Institution) in compliance with ISO14064-1:2018 and the GHG Protocol in late July. https://cyprusshippingnews.com/2022/08/09/evergreen-marine-obtains-double-certification-for-its-greenhouse-gas-emission-inventory/
3. Global Current Account Balances widen amid war and pandemic
The war in Ukraine and resulting increase in commodity prices are expected to contribute to a further widening this year. The lingering pandemic and Russia’s invasion of Ukraine are dealing a setback to the global economy. This is affecting trade, commodity prices, and financial flows, all of which are changing current account deficits and surpluses. https://cyprusshippingnews.com/2022/08/09/global-current-account-balances-widen-amid-war-and-pandemic/
4. Black Sea Grain Initiative procedures agreed at the JCC
The Joint Coordination Centre has authorized today the departure of two vessels through the maritime humanitarian corridor under the Black Sea Grain Initiative carrying a total of 70,020 metric tons of foodstuffs.
5. Centrica seals $8.5bn US LNG supply deal
UK energy supplier Centrica has signed an agreement with US-based Delfin Midstream to buy liquefied natural gas (LNG) at the Delfin Deepwater Port off the coast of Louisiana from 2026. The Windsor-based owner of British Gas said a 15-year deal would see 1m tonnes per annum of LNG delivered on a free-on-board basis worth £7bn (around $8.5bn).
6. NYK retrofitting LNG-powered tugboat to run on ammonia
Japan’s Nippon Yusen Kaisha (NYK) has moved to retrofit its liquefied natural gas (LNG)-fuelled tugboat to run on ammonia fuel. Yokohama-based Keihin Dock Co., part of NYK Group, will carry out the modifications on the Sakigake it built in 2015. https://splash247.com/nyk-retrofitting-lng-powered-tugboat-to-run-on-ammonia/
7. Keppel Terminates More Contracts Linked to 2010s Offshore Boom
Singaporean rigbuilder Keppel O&M has announced the termination of contracts over failure of clients to make final payments and take delivery. The terminations are the latest linked to abandoned assets that had been ordered during the last offshore oil and gas boom in the mid-2010s but never fully paid for or delivered. In each case, Keppel retains ownership of the “legacy” assets, through an independent related company, and also retains the right to sell or charter the vessels. https://gcaptain.com/keppel-terminates-more-contracts-linked-to-2010s-offshore-boom/
8. Norwegian Cruise Line Says Pre-Pandemic Occupancy Still a Year Away, Shares Tumble
Norwegian Cruise Line Holdings Ltd forecast a loss for the current quarter and revenue below estimates as occupancy rates remained stubbornly below pre-pandemic levels, sending its shares down 12% on Tuesday. Its second-quarter occupancy of 65% compared with more than 107% in 2019, a level the company does not expect to reach till the second quarter next year. https://gcaptain.com/norwegian-cruise-line-says-pre-pandemic-occupancy-still-a-year-away-shares-tumble/
9. ABS publishes best practice manual for metadata use in maritime
ABS’ guidance comes as more companies adopt smart, autonomous and remote-control functions in the marine and offshore sectors
The ABS Advisory on Data Quality for Marine and Offshore Application – Metadata is the latest in ABS’ continuing series on the use of vessel data.
provides context to other operational data that enables smart, autonomous and remote-control functions to be executed, either by humans or systems.
10. Baltic index steady as lower rates for smaller vessels offset capesize gains
The Baltic Exchange’s main sea freight index was little changed on Tuesday as declines to multi-week lows in the panamax and supramax segments countered gains in capesize rates. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, edged down two points to 1,564 points. The capesize index was up for the second session, gaining 45 points, or 3.1%, at 1,510 points. https://www.shippingtribune.com/news/shipping/Baltic+index+steady+as+lower+rates+for+smaller+vessels+offset+capesize+gains