InterManager Daily News 13.09.2022.

1. Simplicity at its best – A Mastermind Shipmanagement case story

Frustration amongst the crew had grown within the MSM fleet. Their existing onboard centrifugal separators required too many spare parts, handling had become a hassle and the order procedure left much to be desired. Most importantly they had continues problems with water contamination in their main engine’s lube oil, and therefore had to change it too often to avoid engine breakdowns. After 3 years of patience, it was time for a change, it was time for quality and simplicity, it was time for GreenOil.

2. Call made by the AMP to the Panamanian Seafarers concludes successfully

With the assistance of approximately 300 applicants, including Officers, Cadets and Seafarers, the call made to Panamanian seafarers interested in embarking, ended up successfully, organized by the Panama Maritime Authority , through the General Directorate of Seafarers , in a joint effort with the leading international maritime transport company in the field of general cargo in Colombia, the shipping company NAVESCO, S.A.

3. The leading international maritime trade fair: Shipping sector sets a clear course for climate protection

Friday was the closing day of the 30th SMM which took place on Hamburg’s exhibition campus from 6 to 9 September. During the anniversary edition of the flagship fair the maritime industry demonstrated its commitment to tackling the energy transition. Organisers, exhibitors and trade visitors alike delivered a positive summary of the event.

4. Global oil and gas exploration shrinks as companies shift focus to lower-risk core assets and regions

Global oil and gas exploration is set to falter this year as the number of licensed blocks and total acreage fall to near all-time lows as the sector struggles to shake off the effects of the Covid-19 pandemic and the ensuing oil market crash, Rystad Energy research shows. Only 21 lease rounds were completed globally through August this year, half of the 42 rounds held in the first eight months of 2021. The acreage awarded so far this year has shrunk to a 20-year low of 320,000 square kilometers.

5. OceanPact scores long-term vessel deal with Petrobras

Brazilian offshore vessel owner and services provider OceanPact Serviços Marítimos has entered into a contract with Petrobras for remotely operated vehicle support (RSV) vessel Parcel do Bandolim.

The 2007-built vessel, formerly Bourbon Pearl, will be going on a three-year charter with fellow state-controlled oil giant equipped with two own remotely operated vehicles (ROVs).

6. IMO’s Carbon Intensity Indicator comes in for further criticism

With 111 days until its introduction, critics of the International Maritime Organization’s (IMO) Carbon Intensity Indicator (CII) are growing. The CII, which debuts on January 1 alongside the IMO’s Energy Efficiency Existing ship Index (EEXI), are the most significant pieces of green legislation from the United Nations body since the 2020 introduction of the global sulphur cap.

7. Money & Ships: The next wave in dry bulk

One of the unique pleasures of being a shipping investor, especially since February 2020, has been to figure out how to deploy capital in an environment in which there always seems to be one shipping sector in a raging bull market. But it’s not as easy as it might seem from studying the stock charts in retrospect: the enthusiasm which coincides with the apex of a rising trend is also usually the sign that it’s time to start deploying money elsewhere.

8. Baltic Dry Index Rises on Higher Capesize Rates

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday as rates for larger vessel segments increased. The overall index, which factors in rates for capesize, panamax, supramax shipping vessels, was up for the fourth consecutive session, gaining 43 points, or about 3.5%, at 1,256.

9. Biden Urges Action to Avoid Railroad Shutdown

The Biden administration urged railroads and unions to reach a deal to avoid a railroad work stoppage, saying on Monday it would pose “an unacceptable outcome” to the U.S. economy that could cost $2 billion a day. Railroads, including Union Pacific, Berkshire Hathaway’s BNSF, CSX, and Norfolk Southern, have until a minute after midnight on Friday to reach tentative deals with hold out unions representing about 60,000 workers.

10. Tanker Market Eased This Week

For the Middle East clean market it has been muted compared to last week. TC1 saw marginal gains over the week to WS280 (a TCE of $63676 per day). A similar run on the LR2 going west, TC20, rose by just over $140k per day ending at $543,333 per day.


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