1. Powerful international shipping personalities meet in Limassol for the Maritime Cyprus 2022 conference
Today marked the opening of the internationally renowned “Maritime Cyprus 2022” Conference at the Carob Mill Conference Centre in Limassol. Organized in partnership by the Shipping Deputy Ministry of the Republic of Cyprus, the Cyprus Shipping Chamber and the Cyprus Union of Shipowners, this year’s conference theme is “Shipping’s Response to the 3 Cs – Crises – Challenges – Competitiveness”. More than 900 shipping professionals from around the world, originating from 35 countries, attended the conference, organized biennially in Cyprus. https://cyprusshippingnews.com/2022/10/10/powerful-international-shipping-personalities-meet-in-limassol-for-the-maritime-cyprus-2022-conference/
2. Ensuring inclusive innovation IMO-UNEP-Norway Innovation Forum
IMO-UNEP-Norway Innovation Forum explored how to ensure inclusive innovation to support transition of maritime sector towards decarbonization. The transition in maritime towards a decarbonized sector has already begun and will continue, but this must be done in an inclusive way. This was a key theme throughout the second edition of the IMO-UNEP-Norway Innovation Forum, which was held on 28 and 29 September at IMO Headquarters, London, United Kingdom, and online. https://cyprusshippingnews.com/2022/10/10/ensuring-inclusive-innovation-imo-unep-norway-innovation-forum/
3. 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 . 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://cyprusshippingnews.com/2022/10/10/imo-low-carbon-global-industry-initiative-celebrates-milestone/
4. Practical Guide to the Selection of Energy Efficiency Technologies for Ships
A Practical Guide to the Selection of Energy Efficiency Technologies for Ships has been published by the Global Industry Alliance to Support Low Carbon Shipping (Low Carbon GIA) under the IMO-Norway GreenVoyage2050 Project. Together with its accompanying Excel tool, the Guide aims to support shipowners looking into retrofits, with helpful guidance on considerations and operational practices that should be taken into account when selecting relevant technologies.
5. Strike-hit Liverpool port warns of job cuts
Liverpool port is set to restructure its containers division and start a redundancy consultation process, citing a marked deterioration in the volume of containers handled by the port. The second largest port group in the UK, Peel Ports said the move was “extremely regrettable” but unavoidable, due to the economic backdrop caused by an increasing decline in the movement of cargo over the last few months and a recent sharp drop in containership charter rates.
https://splash247.com/strike-hit-liverpool-port-warns-of-job-cuts/
6. Where’s the floor for container shipping?
“Carriers will have accepted that prices and profits were unsustainable,” Drewry suggested, going on to state that carriers would start cutting back when rates sink close to a level that would be acceptable in the long run. “Recent news of more East-West service suspensions, including a 2M Transpacific loop, indicates that time is now,” Drewry stated, predicting that the next course of defensive action would be to offload older, gas-guzzling ships with 2023 likely to see near-record volumes of boxship demolitions, while a number of the huge swathe of newbuilds ordered will be deferred. https://splash247.com/wheres-the-floor-for-container-shipping/
7. OOCL Kicks Off Another Turbo-Charged Earnings Season for Container Shipping
The Q3 ocean carrier reporting season has kicked off with OOCL’s third-quarter turbo-charged operational numbers. This bellwether data is confirmation that shipping lines have enjoyed another record quarter, while the collapse of demand in the latter weeks of the period will only impact earnings in Q4 onwards, due to the lag in voyage accounting. https://gcaptain.com/oocl-kicks-off-another-turbo-charged-earnings-season-for-container-shipping/
8. How Does The Pentagon’s Massive Global Transportation System Work?
Despite popular opinion, Maersk is not the world’s largest shipping company and Delta is not the world’s largest airline. But both do have massive contracts with the organization that is: The Pentagon. Few people in the shipping industry understand the full extent of the US Military’s air and ocean freight operations. The United States Department of Defense is the world’s largest ship owner, the world’s largest employer, and the world’s largest logistics company. https://gcaptain.com/how-does-the-pentagons-massive-global-transportation-system-work/
9. Inert gas systems in the decarbonisation era
At this year’s SMM event, Alfa Laval announced a refresh of its Smit LNG inert gas generator, highlighting the modular construction, more options and faster access to vital safety equipment. According to Alfa Laval, the Smit LNG system is known for its very dry, high-quality inert gas, which is produced with fuel atomised by steam, ensuring not only less soot in the cargo tank after inspection, but also lower NOx emissions. https://www.rivieramm.com/news-content-hub/inert-gas-systems-in-the-decarbonisation-era-73242
10. Suez Canal revenues hit $2.1bn in Q3, highest quarter in history: Egypt Cabinet
Suez Canal revenues increased in the third quarter of this year by 23.5 percent year-on-year to hit $2.1 billion — the highest figure ever recorded, official data has revealed. This increase is supported by the unprecedented jump in revenues during the month of August that hit a historical record at $744.8 million, according to a release from the Egyptian Prime Minister’s Information Center on Friday. https://www.shippingtribune.com/news/shipping/Suez+Canal+revenues+hit+%242.1bn+in+Q3%2C+highest+quarter+in+history%3A+Egypt+Cabinet
