1. WISTA Cyprus celebrates its 10th anniversary and elects new Board of Directors
At their Annual General Meeting, held on 23rdNovember 2022, in Limassol, WISTA Cyprus has concluded a very dynamic year, which marked the association’s 10th anniversary. Since its incorporation in 2012, WISTA Cyprus has been a key stakeholder in the Cypriot shipping sector, promoting inclusion and diversity in the industry and providing its members with a professional networking and development platform. https://cyprusshippingnews.com/2022/11/25/wista-cyprus-celebrates-its-10th-anniversary-and-elects-new-board-of-directors/
2. Samsung Heavy Industries lands order for 5 LNG Carriers
Samsung Heavy Industries announced on Nov. 23 that it has recently won an order for five liquefied natural gas (LNG) carriers from a shipping company in Oceania. The total contract value amounted to 1,456.8 billion won.The latest contract boosted the shipbuilder’s cumulative order intake for this year to US$9.2 billion, beyond its initial target of US$8.8 billion. This is the second year in a row that the company has exceeded its order-taking target. Its order receipt totaled US$12.2 billion last year, surpassing its target of US$9.1 billion. https://cyprusshippingnews.com/2022/11/25/samsung-heavy-industries-lands-order-for-5-lng-carriers/
3. First FSRU for Germany reaches Rügen
The NEPTUNE enters the Mukran Port. It is the first FSRU (Floating Storage & Regasification Unit) intended for use at a floating LNG terminal in Germany and is now reaching a German port. Here she makes a stop before she will start the final transfer to the industrial port of Lubmin. There it will soon take its place in the first and so far only privately financed LNG terminal that is being developed by Lubmin-based Deutsche ReGas.
4. QatarEnergy and Sinopec sign a 27-year 4 million tons per annum LNG supply agreement to China
QatarEnergy entered into a 27-year Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 4 million tons per annum (MTPA) of LNG to the People’s Republic of China.
Under the terms of the SPA, the contracted LNG volumes will be supplied from QatarEnergy’s North Filed East (NFE) LNG expansion project and will be delivered to Sinopec’s receiving terminals in China.
5. SAFE BULKERS announces scholarship program for Nautical and Maritime studies
The Shipping Deputy Ministry welcomes for the third year the excellent initiative of the company SAFE BULKERS Inc and its Managing Director Mr. Polys V. Hajioannou regarding the 3rd annual scholarship program for the academic year 2023-2024 regarding maritime and maritime studies. https://cyprusshippingnews.com/2022/11/24/safe-bulkers-announces-scholarship-program-for-nautical-and-maritime-studies/
6. Record Chinese covid cases spark concern
The number of covid cases in China has spiked to record highs this week as officials ordered lockdown measures in major cities, including Zhengzhou, where protests were staged at the largest iPhone factory in the world. More than one-fifth of China’s total gross domestic product (GDP) is currently under lockdown, according to a report issued yesterday by finance group Nomura. Hotspots include Guangzhou, Beijing and Chongqing. https://splash247.com/record-chinese-covid-cases-spark-concern/
7. Hong Kong: Owners battle to right the ship
Wellington Koo has followed his forebears to assume chairmanship of the Hong Kong Shipowners Association (HKSOA). Arguably his two-year rein at the influential local body will be more fraught with difficulties than any faced by his father, grandfather and uncle, all of whom held the same role in the past. https://splash247.com/hong-kong-owners-battle-to-right-the-ship/
8. Biden administration approves application for new oil export project on Texas coast
The US Maritime Administration (MARAD) on Tuesday approved the application for the Sea Port Oil Terminal (SPOT), a new offshore oil export terminal in the Gulf of Mexico. The facility will be America’s largest oil export terminal, expected to add 2m barrels per day to US oil export capacity. https://splash247.com/biden-administration-approves-application-for-new-oil-export-project-on-texas-coast/
9. Coast Guard Rescues Overboard Cruise Ship Passenger
The Coast Guard rescued a cruise ship passenger Thursday evening, approximately 20 miles south of Southwest Pass, Louisiana. Watchstanders at Coast Guard Sector New Orleans received a call from the Carnival Valor at approximately 2:30 p.m. Thursday, reporting a passenger aboard the cruise ship was missing. Watchstanders then coordinated the launch of several rescue crews to begin searching. https://gcaptain.com/coast-guard-rescues-overboard-cruise-ship-passenger/
10. Oil Freight Boom Makes $1 Million Waiting Bills More Common
With soaring shipping costs comes soaring bills for ships doing nothing. In the oil-tanker market, day rates for delayed vessels — think taxis waiting with the meter on — have now reached around the $100,000 mark, according to traders and shipbrokers.Those waiting fees are called demurrage, and it’s not unheard of in some locations for the delays to have reached seven to ten days, eroding the profit on physical oil trades. https://gcaptain.com/oil-freight-boom-makes-1-million-waiting-bills-more-common/