This is last issue Daily News this Year. We wish your all readers everything best in New Year.
1. Russian sanctions, demand uncertainty create conflicting crude tanker environment
The Americas dirty tanker markets will continue to face a bullish yet uncertain 2023 as increased ton-mile demand induced by Russian oil sanctions couples with an ever-shifting crude demand landscape to drive tanker market direction. https://cyprusshippingnews.com/2022/12/29/russian-sanctions-demand-uncertainty-create-conflicting-crude-tanker-environment/
2. What’s on the Horizon for Shipping Stocks in 2023?
Shipping stocks, including Danaos, ZIM Integrated Shipping Services, Star Bulk Carriers, Hapag Lloyd, and A.P. Moeller Maersk gained on the back of supply bottlenecks and strong demand for goods, which pushed freight rates higher in 2021. However, the recent easing of supply-chain issues and a weak global macro environment dragged freight rates lower, implying challenges ahead. https://cyprusshippingnews.com/2022/12/29/whats-on-the-horizon-for-shipping-stocks-in-2023/
3. Japan asks its insurers to retain marine war cover for LNG shippers in Russian waters
The Japanese government has asked insurers to take on additional risks to continue providing marine war insurance for liquefied natural gas (LNG) shippers in Russian waters, a senior official at the industry ministry said.
4. Hanwha Group promoting takeover of STX Heavy Industries
Hanwha Group is reportedly seeking to acquire STX Heavy Industries, a ship engine manufacturer. The group has recently signed the main contract to acquire Daewoo Shipbuilding & Marine Engineering (DSME). It is pursuing additional M&A deals to increase synergies in its shipbuilding business. https://cyprusshippingnews.com/2022/12/28/hanwha-group-promoting-takeover-of-stx-heavy-industries/
5. Second LPG Dual-Fuel VLGC for Astomos Named “Lantana Planet”
On September 16, a naming ceremony was held at Sakaide Works of Kawasaki Heavy Industries Ltd. for a new VLGC (very large gas carrier) that NYK will charter to Astomos Energy Corporation, the world’s pre-eminent liquefied petroleum gas (LPG) company.
At the ceremony, the ship was named “Lantana Planet” by Mitsuru Yamanaka, executive vice president of Astomos Energy Corporation, and the ceremonial rope holding the vessel in place was cut by his wife. NYK senior managing executive officer Akira Kono attended together with others from NYK. https://cyprusshippingnews.com/2022/12/28/second-lpg-dual-fuel-vlgc-for-astomos-named-lantana-planet/
6. Germany’s RWE secures long-term Port Arthur LNG supply
RWE Supply & Trading, a unit of German utility RWE, and Sempra Infrastructure, a subsidiary of New York-listed Sempra, have signed a sale and purchase agreement for the supply of around 2.25m tonnes per year (mtpa) of liquefied natural gas from the planned Phase 1 of the Port Arthur LNG terminal in Texas, US, expected to start operations in 2027. https://splash247.com/germanys-rwe-secures-long-term-port-arthur-lng-supply/
7. DP World sells 10% stake in UAE assets to Hassana for $2.4bn
Dubai-headquartered terminal operator DP World has sold around 10.2% stake in the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park to Saudi Arabia-based Hassana Investment Company for $2.4bn. On behalf of the Saudi Arabian pension and social insurer General Organisation of Social Insurance, Hassana invested in a new joint venture with DP World through which it will hold its economic interest in the three UAE assets. https://splash247.com/dp-world-sells-10-stake-in-uae-assets-to-hassana-for-2-4bn/
8. Port of Long Beach Channel Deepening Project Wins Federal Authorization
The Port of Long Beach’s $200 million channel deepening project has won federal authorization. The project promises to improve navigation and safety, especially for bigger vessels, at the nation’s busiest port complex. On December 23, President Joe Biden signed into law the Water Resources Development Act (WRDA) of 2022, the biennial legislation authorizing federal flood control, navigation and ecosystem improvements. https://gcaptain.com/port-of-long-beach-channel-deepening-project-wins-federal-authorization/
9. Congestion Eases as Container Volumes Fall at Port of Oakland
The Port of Oakland reports that congestion has eased thanks to a big drop in November container volumes. Total loaded container volumes at the Port of Oakland declined 15% compared to November 2021, to 131,929 loaded TEUs. https://gcaptain.com/congestion-eases-as-container-volumes-fall-at-port-of-oakland/
10. Container shipping’s ‘big unwind’: Spot rates near pre-COVID levels
The billion-dollar question for container shipping markets at the beginning of 2022 was: “Party on or the big unwind?” It turned out to be the big unwind. As this year comes to a close, the party is pretty much over. Many of the COVID-era market gains are gone. The rest will be in jeopardy in 2023. https://www.shippingtribune.com/news/shipping/Container+shipping%E2%80%99s+%E2%80%98big+unwind%E2%80%99%3A+Spot+rates+near+pre-COVID+levels