1. More governments come on board with Clean Energy Marine Hubs initiative at COP27
Three more governments have endorsed a worldwide cross-sector initiative to catalyse the supply of green fuels, and support the global energy transition, it was announced today in Egypt at COP27. Panama, Uruguay, and Norway have now signed up to the Clean Energy Marine Hub Initiative (CEM-Hubs), a group of representatives from across the global energy-maritime value chain, to set up hubs. The initiative, which is co-led by a taskforce of CEOs, is a cross-sectoral public-private initiative aiming to accelerate the production, export and import of low-carbon fuels across the world. https://cyprusshippingnews.com/2022/11/09/more-governments-come-on-board-with-clean-energy-marine-hubs-initiative-at-cop27/
2. Ships carrying $2 billion in natural gas are waiting off Europe’s coast for prices to rise so they can cash in, report says
More than 30 tankers carrying liquefied natural gas are idling off Europe’s coast as traders hold out for higher market prices, the Financial Times reported. The ships, which combined are carrying LNG worth $2 billion, are at sea around north-west Europe and the Iberian peninsula, the FT reported Friday, citing Vortexa data. https://cyprusshippingnews.com/2022/11/09/ships-carrying-2-billion-in-natural-gas-are-waiting-off-europes-coast-for-prices-to-rise-so-they-can-cash-in-report-says/
3. It’s important to discuss climate reparations, Ursula von der Leyen says
It is “important” that world leaders sit down and discuss the contentious issue of climate reparations during COP27, said European Commission President Ursula von der Leyen. Climate reparations, officially known as, refer to the financial payments that developing nations from the Global South demand from the industrialised Global North in order to compensate the irreversible havoc wreaked by the climate crisis. https://cyprusshippingnews.com/2022/11/09/its-important-to-discuss-climate-reparations-ursula-von-der-leyen-says/
4. Tribute to late Mr. William O’Neil IMO Secretary General Emeritus
IMO Secretary-General pays special tribute to the late Mr. William O’Neil, IMO Secretary-General Emeritus at the annual IMO Awards ceremony. Mr. O’Neil was Secretary-General of IMO from 1990 to 2003. IMO Secretary-General, Mr. Kitack Lim, used the annual IMO Awards ceremony as an opportunity to pay special tribute to the late Mr. William A. O’Neil, IMO Secretary-General Emeritus, who died in the United Kingdom on 29 October 2020, aged 93. Mr. O’Neil was Secretary-General of IMO from 1990 to 2003. https://cyprusshippingnews.com/2022/11/09/tribute-to-late-mr-william-oneil-imo-secretary-general-emeritus/
5. New Times Shipbuilding in China has launched two LNG dual-fuel 210,000 DWT Bulk Carriers
On November 5, 2022, the launching ceremony of two units of 210,000 DWT Bulk Carriers bearing builder’s hull nos.0120833 and 0120834 has been carried out successfully by New Times Shipbuilding Co., Ltd. Our Chairman Mr. Yuan Kaifei, CEO Mr. Liu Haijin, Executive General Manager Mr. Zhang Yuyong, the representatives from Himalaya Site Manager Mr. Davor Radic together with his site members and representatives from ABS classification society attended and witnessed the ceremony together. https://cyprusshippingnews.com/2022/11/09/new-times-shipbuilding-in-china-has-launched-two-lng-dual-fuel-210000-dwt-bulk-carriers/
6. ACPA says ports need more financial flexibility to meet Canada’s global sustainable energy aspirations
Just days later, Canada’s Belledune Port Authority (BPA) signed an MOU with Niedersachsen Ports in Wilhelmshaven, Germany, to establish an energy partnership focused on clean fuels and green products. BPA CEO Denis Caron said at the time: “This agreement creates a direct trade corridor between New Brunswick and one of the biggest clean-energy markets in Europe.” https://splash247.com/acpa-says-ports-need-more-financial-flexibility-to-meet-canadas-global-sustainable-energy-aspirations/
7. Liverpool port strike called off as union backs pay deal
A pay dispute between nearly 600 dockworkers at the port of Liverpool and port operator Peel Ports may be over. The second largest port group in the UK, Peel Ports said it had reached an agreement with trade union Unite over the dispute which has already seen three walkouts. https://splash247.com/liverpool-port-strike-called-off-as-union-backs-pay-deal/
8. Sea/ acquires Polish software developer Setapp
Digital shipping platform Sea/ has acquired Polish software development company Setapp. The Poznan-based company employs around 50 people that provide tech solutions to a number of maritime organisations. “Setapp will continue to provide services to third parties whose projects will be ring-fenced from any other work being executed,” Sea/ said in a release. https://splash247.com/sea-acquires-polish-software-developer-setapp/
9. Baltic index posts best day in a month on firm capesize demand
The Baltic Exchange’s dry bulk sea freight index (.BADI) rose for a fourth straight session on Wednesday to mark its biggest one-day percentage gain in a month, supported by stronger demand for capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 37 points, or about 2.7%, to 1,393, the highest level since Oct. 31.
10. Maersk, CMA CGM take part in US$80m funding round into project44
MAERSK and CMA CGM are among the participants in an US$80 million funding round announced recently by visibility provider project44, a cash injection the company said it will use to build a system for measuring so-called Scope 3 supply chain emissions. The latest funding round now puts the company’s valuation at $2.7 billion, project44 said in a statement. It has raised more than $320 million since January, according to IHS Media.
