InterManager Daily News 09.11.2022.

1. BSM, Mitsui, and Maersk among the world’s most innovative shipping companies

Bernhard Schulte Shipmanagement, Mitsui OSK Lines, and Maersk named in the Thetius 150 list of the maritime industry’s most innovative organisationsA new report by maritime innovation agency Thetius was released today, naming Bernhard Schulte, Maersk, and Mitsui OSK Lines as some of the world’s most innovative shipping companies. https://cyprusshippingnews.com/2022/11/07/bsm-mitsui-and-maersk-among-the-worlds-most-innovative-shipping-companies/

2. Safe manning levels need to increase by 30% for safety

“Seafarers that MHSS speaks to are reporting very high levels of fatigue,” he said. “The shortage of crew means that they are taking on an ever-increasing workload which involves longer hours and less time off. The result is that many more are suffering from the impact on their mental health that comes with unrelenting fatigue.” https://cyprusshippingnews.com/2022/11/07/safe-manning-levels-need-to-increase-by-30-for-safety/

3. AD Ports Group acquires 80% stake in Global Feeder Shipping, creating world’s largest independent feeder carrier

AD Ports Group announced that it has signed an agreement to acquire an 80% equity stake in Dubai-based Global Feeder Shipping (GFS), a global container shipping company. The total purchase consideration for the 80% stake amounts to AED 2.9 billion (US$ 800 million), implying a 100% Enterprise Value of AED 3.7 billion (US$ 1.0 billion), with the acquisition being fully funded through a new acquisition loan. https://cyprusshippingnews.com/2022/11/07/ad-ports-group-acquires-80-stake-in-global-feeder-shipping-creating-worlds-largest-independent-feeder-carrier/

4. “K” LINE enters into Long-Term Time Charter with QatarEnergy for five newbuilding LNG vessels

“K” LINE announced the execution of five long-term Time Charter contracts through joint venture companies with QatarEnergy.The joint venture companies have concurrently executed Shipbuilding contracts for 174,000m3 LNG carriers with Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. “K” LINE has already concluded seven long-term Time Charter contracts with QatarEnergy in August this year, making the total number of twelve vessels. https://cyprusshippingnews.com/2022/11/07/k-line-enters-into-long-term-time-charter-with-qatarenergy-for-five-newbuilding-lng-vessels/

5. Port of Aberdeen’s £400 million expansion nears completion

More than 60% of Port of Aberdeen’s £400 million South Harbour development is now operational, marking the penultimate construction milestone in this transformational project. The handover from construction to operations for Dunnottar, Crathes and Castlegate (East) Quays was completed this week. https://cyprusshippingnews.com/2022/11/07/port-of-aberdeens-400-million-expansion-nears-completion/

6. Massachusetts denies Avangrid motion to delay review of power purchase agreements

US power company Avangrid filed a motion in October with the Massachusetts Department of Public Utilities (DPU) seeking a one-month suspension in the department’s review of power purchase agreements (PPAs) for the Commonwealth Wind project planned for development south of Martha’s Vineyard. The motion said the suspension would enable the parties to examine the effects of inflation and supply shortages on the project. https://splash247.com/massachusetts-denies-avangrid-motion-to-delay-review-of-power-purchase-agreements/

7. Ports of Singapore, Los Angeles and Long Beach to establish green and digital shipping corridor

The Maritime and Port Authority of Singapore (MPA), Port of Los Angeles, Port of Long Beach and C40 Cities – a global network of mayors taking action to confront the climate crisis – have begun discussions to establish a green and digital shipping corridor between Singapore and the San Pedro Bay port complex. The corridor will focus on low- and zero-carbon fuels for bunkering, as well as digital tools to support deployment of low- and zero-carbon ships. https://splash247.com/ports-of-singapore-los-angeles-and-long-beach-to-establish-green-and-digital-shipping-corridor/

8. India’s Cochin Shipyard wins first CSOV order

India’s state-run Cochin Shipyard has won a contract from an undisclosed European client for the construction of two offshore wind farm commissioning service operation vessels (CSOVs). “These specialised vessels are being contracted for the first time in the country,” the shipyard said in a regulatory filing.

https://splash247.com/indias-cochin-shipyard-wins-first-csov-order/

9. Baltic index slides for 12th session on sluggish capasize demand

The Baltic Exchange’s dry bulk sea freight index (.BADI) extended its losing streak to a 12th session on Thursday, pressured by waning capasize rates due to low iron ore shipments to China.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 31 points, or about 2.4%, to 1,290. https://www.shippingtribune.com/news/shipping/Baltic+index+slides+for+12th+session+on+sluggish+capasize+demand

10. Capesize shipments of Guinean bauxite jump 27.4% YTD

High energy prices in Europe have shifted aluminium production to China. Due to China’s increasingly depleted bauxite reserves, this shift has resulted in an increase in bauxite shipments, benefitting the capesize segment. Guinea, the world’s largest exporter of bauxite, accounts for around half of traded volumes and has seen a 14.9% increase in bauxite shipments so far in 2022. https://www.shippingtribune.com/news/shipping/Capesize+shipments+of+Guinean+bauxite+jump+27.4%25+YTD

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