1. Thome opened Fleet Operations Hub in Mumbai
The Thome Group has opened a modern operations hub at its office in Mumbai following the strengthening of its fleet support function and as a major step towards accomplishing its decarbonisation goals. The hub will complement the one currently at Thome Group’s head office in Singapore which opened in November 2017 to enhance its ship management services and reaction times to emergency responses. https://cyprusshippingnews.com/2022/11/23/thome-opened-fleet-operations-hub-in-mumbai/
2. How the 8th package of sanctions against Russia is shaping the shipping landscape
The Cyprus Shipping Chamber held on November 22nd in Limassol, the Monthly Meeting of its Members, during which Mr. Giorgos Zambartas, Partner and Head of Shipping and Office of INCE in Cyprus and Ms. Ester Toumbouri, and Ms. Marianna Lamari, Partner and Senior Partner respectively of INCE Cyprus, presented the latest developments in relation to the sanctions imposed by the European Union on Russia, following the latter’s invasion of Ukraine, and how they shape the landscape in the Shipping sector. https://cyprusshippingnews.com/2022/11/23/how-the-8th-package-of-sanctions-against-russia-is-shaping-the-shipping-landscape/
3. HMM’s share of Asia-U.S. West Coast route falls to 4% range
HMM’s share of the Asia-U.S. West Coast route has fallen to the 4 percent range in seven years. The route accounts for more than 40 percent of HMM’s sales. The drop in HMM’s market share is because not only large shipping companies but also small and medium-sized shipping companies that do not belong to maritime alliances have greatly increased services on the lucrative route. https://cyprusshippingnews.com/2022/11/23/hmms-share-of-asia-u-s-west-coast-route-falls-to-4-range/
4. New ICS guide launched to help owners and operators navigate the new EEXI and CII emission reduction regulations
The International Chamber of Shipping has published the industry’s first definitive guide to the IMO GHG regulations, helping decision makers to chart their way through the major technical and operational changes they face in achieving the CO2 reduction targets for 2030 agreed by the UN International Maritime Organization. https://cyprusshippingnews.com/2022/11/23/new-ics-guide-launched-to-help-owners-and-operators-navigate-the-new-eexi-and-cii-emission-reduction-regulations/
5. The Marine Warranty Surveyor – are onshore and offshore marine construction operations reduced to an acceptable level in accordance with best industry practice?
The prime objective of the marine warranty surveyor is to assess whether the risks associated with the relevant onshore and offshore marine construction operations are reduced to an acceptable level in accordance with best industry practice. https://cyprusshippingnews.com/2022/11/23/the-marine-warranty-surveyor/
6. The numbers behind MSC’s extraordinary fleet growth
Much has been written about the fleet expansion at Gianluigi Aponte’s Mediterranean Shipping Co (MSC) during container shipping’s boom era. Since August 2020 the Geneva-headquartered liner has bought more than 250 secondhand ships, as well as building a 1.7m teu orderbook, a period of expansion on a scale never seen before in any commercial shipping sector. https://splash247.com/the-numbers-behind-mscs-extraordinary-fleet-growth/
7. Fires top insurance claims
Fire and explosion incidents cause the most expensive insurance claims in the marine industry, while at a time of rising exposures and inflation, cargo damage is the most frequent cause of loss, according to Allianz Global Corporate & Specialty (AGCS).
8. U.S. Navy Confirms Iranian Drone Struck Tanker in Middle East
A U.S. Navy analysis has confirmed that an Iranian drone was behind the November 15 attack on a Liberian-flagged commercial tanker transiting international waters in the Middle East. Two U.S. Navy explosive ordnance technicians boarded M/T Pacific Zirconthe day after the attack to assess the damage and collect unmanned aerial vehicle (UAV) debris fragments for forensic analysis. The evidence was taken to a lab at the 5th Fleet’s headquarters in Bahrain where technicians confirmed Iran’s connection to the attack.
9. Standard Club remains focused on sustainable underwriting in 2023 renewal
The Standard Club’s continued strategy of attracting carefully selected tonnage, whilst maintaining underwriting discipline, has seen it achieve a combined ratio of 97% for the policy year 22/23 (as of August 2022). However, with a key driver for the forecast result being an unexplained drop in large P&I claims across the International Group, the club believes further work is required to reach the desired underwriting position. https://www.shippingtribune.com/news/shipping/Standard+Club+remains+focused+on+sustainable+underwriting+in+2023+renewal
10. Equinor proposes US$1.45Bn Norwegian subsea gas project plan
Equinor has submitted a plan for development and operation (PDO) for the Irpa gas discovery, formerly known as Asterix, which would involve installation of subsea production infrastructure and long pipelines in the deep waters of the Norwegian Sea. https://www.rivieramm.com/news-content-hub/plan-submitted-for-norwegian-us15bn-subsea-gas-project-73922