1. Ardmore Shipping sees incentives for fuel-saving retrofits with new EU ETS rules
With tightening environmental regulations for maritime emissions, Ardmore Shipping expects energy-saving retrofits to become an increasingly attractive investment for ship operators in coming years. The EU has proposed to include shipping in its Emissions Trading System from 2023 or 2024 in a bid to combat climate change, and the final rules are expected to be ironed out by autumn. https://cyprusshippingnews.com/2022/09/21/ardmore-shipping-sees-incentives-for-fuel-saving-retrofits-with-new-eu-ets-rules/
2. Shipping industry slowing down
This week’s Shanghai Containerized Freight Index is 2,312.65, down 9.7 percent from the previous week. For reference, the index amounted to 5,109.6 in the first week of January this year. This week’s Baltic Dry Index is 1,553. Although it rose from the previous week’s 1,213, it is much lower than this year’s high of 3,369 recorded in May. https://cyprusshippingnews.com/2022/09/21/shipping-industry-slowing-down/
3. Tufton Oceanic acquires two Product Tankers
The Board of Tufton Oceanic Assets announced that the Company has agreed to acquire two Product Tankers for $73.0m. They are being acquired below depreciated replacement cost. These acquisitions will take the Company’s fleet to twenty-three vessels. Both vessels have fixed rate time charters for three to five years to a major commodity trading and logistics company. The yield during the charters exceeds the targets expressed in the Company’s prospectus dated 25 September 2018. https://cyprusshippingnews.com/2022/09/21/tufton-oceanic-acquires-two-product-tankers/
4. China Classification Society announces delivery of newbuilding LNG bunker vessel “XIN AO PU TUO HAO” classified into CCS for the first time
On the 16th of September 2022, the LNG bunker vessel “XIN AO PU TUO HAO” was successfully delivered in Dalian Shipbuilding Industry Offshore Base. This vessel was built by Dalian Shipbuilding Industry Co., Ltd., contracted by ENN Energy Holding Ltd. and operated by Tianjin Southwest Maritime Limited. It is the first domestic newbuilding LNG bunker vessel classified into CCS meeting the “Rules for Liquefied Natural Gas Bunkering Vessel” and given by “LNG Bunkering Ship” class notation. https://cyprusshippingnews.com/2022/09/21/china-classification-society-announces-delivery-of-newbuilding-lng-bunker-vessel-xin-ao-pu-tuo-hao-classified-into-ccs-for-the-first-time/
5. Further oil leak from bulker wreck off Gibraltar
After a residual oil leak was found spilling from the stricken OS 35 bulk carrier, authorities took the decision to close Gibraltar’s port again yesterday, including stopping all bunkering operations.
The ship is submerged on the seabed less than 1 km from the coastline, having pranged with an LNG carrier on August 29. The ship, which is encircled by a boom, has since nearly basically broken in two. https://splash247.com/further-oil-leak-from-bulker-wreck-off-gibraltar/
6. US Maritime Administration to explore low-carbon options for shipping on the Great Lakes
The US Maritime Administration (MARAD) has launched a 16-month study exploring low-carbon options for shipping on the Great Lakes. The research group, led by the International Council on Clean Transportation (ICCT) in partnership with the American Bureau of Shipping (ABS) and the Conference of Great Lakes and St. Lawrence Governors & Premiers (GSGP), will assess the suitability of alternative fuels and power options. https://splash247.com/us-maritime-administration-to-explore-low-carbon-options-for-shipping-on-the-great-lakes/
7. St. Johns Ship Building Begins Construction on Jones Act Crew Transfer Vessels for Offshore Wind Market
AWT placed the order back in August for six Jones Act-compliant, 24-meter aluminum catamarans that will service domestic offshore wind projects during construction, operations, and maintenance phases. The order followed the June acquisition of St. Johns Ship Building, which is located in with Palatka, Florida outside Jacksonville, by Americraft Marine, a maritime subsidiary of the Libra Group. https://gcaptain.com/st-johns-ship-building-begins-construction-on-jones-act-crew-transfer-vessels-for-offshore-wind-market/
8. Are ports the new battlefront in the digital supply chain dilemma?
After attending a recent update on international trade opportunities, I was left asking questions. Are port and terminal operating systems which interface with China platforms unknowingly putting supply chains at risk in this volatile geopolitical environment? Are they inadvertently contributing to IP theft opportunities?
9. Tumultuous times create positive outlook for LNG shipping
As the world moves to greener fuels, LNG will continue to be a major player in the transition, writes Howe Robinson Partners LNG senior broker, Debbie Turner
This has been one of the most tumultuous years in recent times for LNG, with demand for the product growing as pipeline gas supply to Europe falters. Who would have envisaged that new and existing pipelines, in which billions of dollars had been spent, would be halted prior to start up?
10. Adani Ports bags Rs 25,000 crore Tajpur port project in West Bengal
The Adani Group will develop a port in India’s West Bengal state at a planned investment of over $3 billion, as the port-to-power group continues to strengthen its hold on the local infrastructure and logistics sectors.Adani Ports and Special Economic Zone Ltd, controlled by Gautam Adani, the world’s second richest man, was on Monday selected to develop the Tajpur Deep Sea Port, according to a statement from the state government. https://www.shippingtribune.com/news/shipping/Adani+Ports+bags+Rs+25%2C000+crore+Tajpur+port+project+in+West+Bengal