1. Port of Long Beach channel deepening project wins Federal authorisation
The Port of Long Beach is kicking off 2023 with plenty to celebrate. On Dec. 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 that include the Port’s Channel Deepening Project. https://cyprusshippingnews.com/2022/12/30/port-of-long-beach-channel-deepening-project-wins-federal-authorisation/https://cyprusshippingnews.com/2022/12/30/port-of-long-beach-channel-deepening-project-wins-federal-authorisation/
2. LNG Tank Containers manufactured by COSCO SHIPPING first put into use for LNG import from Canada
Recently, LNG tank containers manufactured by COSCO SHIPPING were first put into use by Lianyungang Traffic Control Logistics Group for LNG import from Canada. The containers are manufactured by Lianyungang COSCO SHIPPING Special Equipment Manufacturing Co., Ltd., a joint venture established by COSCO SHIPPING (Qingdao) Co., Ltd. and Lianyungang Traffic Control Logistics Group. COSCO SHIPPING Freight will provide total supply chain services including shipping, land transportation and customs clearance. https://cyprusshippingnews.com/2022/12/30/lng-tank-containers-manufactured-by-cosco-shipping-first-put-into-use-for-lng-import-from-canada/
3. Fujairah bunkers 2023 demand outlook steady amid expansion plans, OPEC output cuts
The UAE’s Port of Fujairah, the world’s third-largest bunkering hub, is heading for a downturn in ship fuel sales this year and the outlook for 2023 isn’t much better, with the biggest proportion of respondents in an S&P Global Commodity Insights survey expecting little change as expansion projects could boost demand while OPEC production cuts curb usage. https://cyprusshippingnews.com/2022/12/30/fujairah-bunkers-2023-demand-outlook-steady-amid-expansion-plans-opec-output-cuts/
4. China set to receive Russian Arctic oil cargo in February
China is set to receive in February a cargo of Russian crude oil produced from Arctic fields, the second such cargo in three months, after Europe halted crude imports from Russia, data on Refinitiv showed. About 900,000 barrels of Arco crude oil was loaded on to tanker NS Bravo at the Murmansk port on Dec. 20, Refinitiv data showed. https://cyprusshippingnews.com/2022/12/30/china-set-to-receive-russian-arctic-oil-cargo-in-february/
5. Amid Ukraine War, Russia’s Northern sea route turns East
The Russian war on Ukraine is upending global energy markets. European countries are pushing to reduce their dependence on Russian oil and gas, while China and India are making the most of new, discounted supplies of increasingly shunned Russian hydrocarbons. This reshuffling of energy relations is also impacting the Northern Sea Route, the Arctic waterways that run along large stretches of Russia’s northern coastline, and which Russian President Vladimir Putin is looking to develop into an international shipping route. https://cyprusshippingnews.com/2022/12/30/amid-ukraine-war-russias-northern-sea-route-turns-east/
6. Dynagas LNG Partners seals new Equinor charter deal
New York-listed Dynagas LNG Partners has struck a new time charter deal with Equinor for the ice-class LNG carrier Arctic Aurora. The Tony Lauritzen-led owner of six LNG ships said the charter would last for about three years, adding about $116.5m to the revenue backlog. https://splash247.com/dynagas-lng-partners-seals-new-equinor-charter-deal/
7. Oshima will start construction of first bulk carrier at newly acquired yard in April
Japan’s Oshima Shipbuilding has completed the takeover of Mitsubishi Heavy Industries’s Nagasaki Shipyard & Machinery Works (Koyagi), with plans to start construction of a first bulk carrier there in April. The Koyagi dock will focus on dry bulk carriers, Oshima’s specialty, but is likely to see a jump up in size to capes. Oshima will also look at manufacturing LNG fuel tanks at its newly acquired yard. https://splash247.com/oshima-will-start-construction-of-first-bulk-carrier-at-newly-acquired-yard-in-april/
8. Could Rising Interest Rates Sink Carnival?
US companies had a lot to overcome in the latter half of 2022 with rising interest rates, more budget-conscious consumers and a sagging stock market. That’s left some of them in very tough spots at the start of the new year. Carnival Corp. entered 2020 with a full head of steam, having reported record sales and profit the year before. Three years into the pandemic, it’s a different company. https://gcaptain.com/could-rising-interest-rates-sink-carnival/
9. US Navy Opens Medical Vault For Google
In early February 2016, the security gate at a U.S. military base near Washington, D.C., swung open to admit a Navy doctor accompanying a pair of surprising visitors: two artificial intelligence scientists from Google. In a cavernous, temperature-controlled warehouse at the Joint Pathology Center, they stood amid stacks holding the crown jewels of the center’s collection: tens of millions of pathology slides containing slivers of skin, tumor biopsies and slices of organs from armed service members and veterans. https://gcaptain.com/us-navy-opens-medical-vault-for-google/
10. Tonnage dislocation to prolong freight volatility to Americas clean tankers
The Americas clean tanker market is poised for an uncertain 2023, with freight volatility exacerbated by the ongoing displacement of distillates amid the Russia-Ukraine conflict, fueling global economic turmoil and deepening tonnage dislocation. Since the onset of the Russian invasion of Ukraine on Feb. 24, Americas clean tanker freight has seen grandiose swings, once rising as fast as 45% in a matter of days only to see market corrections devaluing key trading routes by almost half in a just a week’s time. https://www.shippingtribune.com/news/shipping/Tonnage+dislocation+to+prolong+freight+volatility+to+Americas+clean+tankers
