1. Searchlight Capital buys into Synergy
New York-based private equity firm Searchlight Capital Partners has bought into Singapore shipmanager Synergy Marine Group. Searchlight did not disclose the terms of the deal, except that it involved a minority ownership stake in the Rajesh Unni-led group. https://splash247.com/searchlight-capital-buys-into-synergy/
2. Cyprus Shipping Deputy Ministry establishes new maritime entity to simplify operations for shipowners
The Cyprus Shipping Deputy Ministry (SDM) has enacted the “Shipping Limited Liability Company (S.L.L.C.) Law of 2022”, which was ratified by Cyprus Parliament on 6 October 2022. The new legislation aims to simplify the procedures and operating regime of Cypriot shipping companies that own Cyprus ships, while safeguarding the competitiveness of the Cyprus flag in international shipping. https://cyprusshippingnews.com/2022/10/08/cyprus-shipping-deputy-ministry-establishes-new-maritime-entity-to-simplify-operations-for-shipowners/
3. European Shipping meets in Cyprus
The European Community Shipowners’ Associations (ECSA), which represents national shipowners’ associations of EU Member States, organised for the third time in Cyprus, following a relevant invitation by the Cyprus Shipping Chamber and the Cyprus Union of Shipowners, its Board of Directors Meeting on 7 October 2022, in Limassol. https://cyprusshippingnews.com/2022/10/08/european-shipping-meets-in-cyprus/
4. Hafnia wins diversity award
Confetti fell and champagne popped when the employees at Hafnia today got the news that they had won Danish Shipping’s diversity award.
A jury has evaluated the four finalists and Hafnia wins the award, among other things, because of their different, refreshing, and innovative initiative.
5. “It has to be more about evolution, not revolution” says Tom Hewitson of Maersk Tankers
Tom Hewitson has built a career amid the hustle and bustle of shipping’s trading desks. As he takes up the reins at Maersk Tankers’ chartering and freight solutions arm, Hewitson discusses how ship managers today must both drive up owners’ earnings and cut emissions by deploying vessels efficiently.
6. Crew evacuated from burning boxship off Saudia Arabia
A major fire broke out onboard a Panama-flagged containership TSS Pearl off Saudi Arabia. A crew of 25 seafarers were evacuated from the 2008-built fire-stricken ship by the Saudi border guards in collaboration with another unnamed foreign commercial ship. The incident occurred in the Red Sea some 123 nautical miles northwest of Jazan port while the 2,007 teu vessel was en route to Aden, Yemen. https://splash247.com/crew-evacuated-from-burning-boxship-off-saudia-arabia/
7. Mississippi Barge Backup Stalls Millions of Tons of Cargo
Prolonged drought is jeopardizing waterborne trade along the Mississippi River, a basin that produces 92% of the nation’s agricultural exports.
As of Friday, the river was still closed near Stack Island, Mississippi, and Memphis, Tennessee. That has resulted in a backup of more than 2,000 barges at various points, according to the US Coast Guard. Dredging activities are currently paused, and officials plan to reopen the waterway with restrictions when it has been determined safe to do so. https://gcaptain.com/mississippi-barge-backup-cargo/
8. Can NATO Protect Pipelines & Subsea Cables?
NATO allies are struggling to work out how to better safeguard undersea critical infrastructure after the Nord Stream pipelines blasts laid bare the difficulty of monitoring facilities and identifying any attackers. The sheer scale and underwater depth of assets such as pipelines — or data cables that allow the internet to function — heighten the challenge for governments. With most systems owned by private companies, proving which government may have sponsored an attack is even more complex. https://gcaptain.com/can-nato-protect-pipelines-subsea-cables/
9. China’s 15m tonnes oil products export quota could boost tonne miles to EU
On 30 September 2022, China added 15 million tonnes to its 2022 export quota for oil products. The quota includes 13.25 million tonnes for gasoline, diesel, and jet fuel as well as 1.75 million for low-sulphur marine fuel. If headed for the EU, it could be a welcome addition to the block seeking to replace on average 2 million tonnes of diesel imports from Russia when sanctions take effect from February 2023 and demand for heating increases in the winter months. It could also add some attractive tonne miles for product tankers. https://www.shippingtribune.com/news/shipping/China%E2%80%99s+15m+tonnes+oil+products+export+quota+could+boost+tonne+miles+to+EU
10. IMO Low Carbon Global Industry Initiative celebrates milestone
The IMO-Norway GreenVoyage2050 has celebrated five years of its Global Industry Alliance to Support Low Carbon Shipping (Low Carbon GIA). The Low Carbon GIA is a public-private partnership that provides a collaborative platform for maritime industry leaders to support an energy efficient and low carbon maritime transport system. https://www.shippingtribune.com/news/shipping/IMO+Low+Carbon+Global+Industry+Initiative+celebrates+milestone