1. Industry calls for earmarking of shipping ETS revenues in final negotiating round
As negotiations on the inclusion of shipping in the EU ETS enter the final stretch, European shipowners, ports and port operators, the cruise and ferry sector, shipyards and equipment manufacturers, fuel suppliers, shippers and forwarders reiterate their call to regulators to earmark ETS revenues from shipping back to the maritime sector. https://cyprusshippingnews.com/2022/11/23/industry-calls-for-earmarking-of-shipping-ets-revenues-in-final-negotiating-round/
2. Port of Rotterdam Authority welcomed first users of the Container Exchange Route
Agreements with these parties were signed earlier this month. By the end of June 2022, it was already agreed with the Dutch Customs Administration to connect the State Inspection Terminal to the CER to strengthen the integrity of transports to and from this location. The Port of Rotterdam Authority will now realise the connections to the sites and the connection to the Closed Transport Route. The first transports over the track could take place by the end of 2023. https://cyprusshippingnews.com/2022/11/23/port-of-rotterdam-authority-welcomed-first-users-of-the-container-exchange-route/
3. G20 merchandised trade falls for the first time in two years in Q3 2022 while services trade growth slows further
G20 merchandise trade fell for the first time in two years in value terms in Q3 2022, retreating from the recent high levels in Q2 2022 (Figure 1 and 2). As measured in current US dollars, exports and imports contracted by 1.3% and 1.1%, respectively, as global demand began to slow and most commodity prices receded from their peaks. https://cyprusshippingnews.com/2022/11/23/g20-merchandised-trade-falls-for-the-first-time-in-two-years-in-q3-2022-while-services-trade-growth-slows-further/
4. Unifeeder announced new direct service connecting the Baltic Sea with the UK
Unifeeder announced an expansion to their network by launching a new service connecting outports in the Baltic Sea with the hub ports of London Gateway and Felixstowe. https://cyprusshippingnews.com/2022/11/23/new-direct-service-connecting-the-baltic-sea-with-the-uk/
5. Colombian alternative to the Panama Canal seeks funding
Puerto Internacional Las Americas (PILA) is planned to be an underground tunnel that would use Maglev (derived from magnetic levitation) technology to transfer containers in less than 30 minutes between fully automated ports on the Atlantic and Pacific coasts of northern Colombia. https://splash247.com/colombian-alternative-to-the-panama-canal-seeks-funding/
6. Hong Kong and the Greater Bay Area
First conceived in 2017, the Greater Bay Area (GBA) is up there with the Belt Road Initiative in terms of mega, overarching economic plans laid out during the tenure of Xi Jinping as leader of China. In a way it harks back to previous Communist times, what Deng Xiaoping called: “Crossing the river by feeling the stones” – a way of bridging divides for greater, mutual strength long-term https://splash247.com/hong-kong-and-the-greater-bay-area/
7. Seapeak splashes $1.1bn on five LNG carrier newbuilds in South Korea
Seapeak has booked five liquefied natural gas (LNG) carriers for construction at South Korea’s Samsung Heavy Industries (SHI). Stonepeak’s gas ship owner is paying around $1.1bn for the 174,000 cu m ships expected for delivery in 2027. The newbuilds are backed by ten-year charters with an unnamed international energy major, which can be extended at the option of the charterer. https://splash247.com/seapeak-splashes-1-1bn-on-five-lng-carrier-newbuilds-in-south-korea/
8. Los Angeles and Long Beach Containership Backup Has Officially Ended
Shipping officials in California have proclaimed the end of the container backup at the ports of Los Angeles and Long Beach after 25 months.
The backup was one of the most visible signs of supply chain chaos driven by the pandemic-fueled import boom, as dozens of ships could be seen parked at San Pedro Bay anchorages just off the coast. https://gcaptain.com/los-angeles-and-long-beach-containership-backup-has-officially-ended/
9. CII at the IMO: All Eyes on Shipping’s New Carbon Intensity Index
With the upcoming International Maritime Organization (IMO) environmental committee meeting now a scant three weeks away, a treasure trove of written material, some factual, some opinion and some offering a little bit of both, is available for journalists to review in advance of the meeting—officially tagged as Marine Environmental Protection Committee (MEPC) 79. https://gcaptain.com/cii-at-the-imo-all-eyes-on-shippings-new-carbon-intensity-index/
10. Baltic index snaps 9-day losing streak on capesize gains
The Baltic Exchange’s dry bulk sea freight index rose on Wednesday for the first time in ten sessions, helped by an uptick in capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, added 35 points, or about 3%, to 1,184. https://www.shippingtribune.com/news/shipping/Baltic+index+snaps+9-day+losing+streak+on+capesize+gains
