InterManager Daily News 03.01.2023.

1. Chevron Sending Two Oil Tankers To Venezuela Under U.S. Approval

U.S. oil company Chevron Corp CVX.N is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data.

2. Dead In The Water – The Best Maritime Book Of The Year

On July 6th, 2011, the fully laden Greek-owned, Liberian-flagged tanker Brillante Virtuoso, carrying $100 million worth of fuel oil was attacked by Somali pirates. The crew of 26 Filipino sailors was forced to abandon ship, but thankfully, the US Navy cruiser USS Philippine Sea responded and rescued them all. Tugboats from the nearby port of Aden were able to put out the fire and tow the ship to safety. Miraculously, no one was hurt until weeks later when a bomb exploded under the car of former British Merchant Navy Captain David Mockett.

3. Indonesia Will Export Less Palm Oil To Keep Supplies At Home

The government will cut the amount producers can export to six times the domestic sales requirement, down from eight times currently, according to Budi Santoso, director general of foreign trade at the trade ministry. The change will take effect from Jan. 1, he said by text message on Friday.

4. Ecuador Reports 400% Rise In Drug Trafficking Via Shipping Containers

Insecurity in Ecuador is hurting the Andean country’s exports of products like bananas and shrimp, an exporters association said, amid assaults on shipping containers and contamination of shipments with drugs.

5. Top five trends to watch in LNG in 2023

2023 will see the lingering impact of the war bringing continuing demand for LNG in Europe, higher LNG carrier newbuild prices, price volatility, fast-moving FSRU developments, and much more, writes LNG Shipping & Terminalseditor John Snyder.

6. Why we must increase the capacity of land ports along the India-Bangladesh Border

The commerce minister of Bangladesh Tipu Munshi called for increasing the capacity of land ports on the Bangladesh-India border on December 21, 2022. He stated that India is a close friend and major trading partner of Bangladesh. He also reiterated the huge demand for Bangladeshi products in the Indian market.

7. Japan insurers to maintain cover for LNG vessels in Russian waters

Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for liquefied natural gas (LNG) vessels, industry sources said on Friday. But on Tuesday, a senior official at the industry ministry said the Japanese government had asked insurers to take on additional risks to continue providing war insurance for liquefied natural gas (LNG) shippers.

8. Rising supply from Kuwait, Russia to weigh on Asia fuel oil in 2023

Asia is expected to be flooded with more fuel oil supplies in 2023 as Kuwait’s new Al-Zour refinery ramps up output and as Russia diverts record volumes from Europe to the East ahead of sanctions. Higher supplies are expected to weigh on Asia’s fuel oil prices and refiners’ margins next year amid steady demand from the ship fuelling and power generation sectors.

9. More seafarers seek support for mental health over Christmas period as they face loneliness and isolation from their families, says OneCare Solutions

Calls for support services from seafarers who are away at sea increase over the Christmas period as crews struggle more with loneliness and isolation, says leading health and wellbeing platform One Care Solutions. The platform offers 360 degrees of support to crews and their families and addresses the full spectrum of seafarer health and well-being with 24/7 direct access to medical expertise, as well as mental health support.

10. EU gas price cap could tighten LNG supplies into Europe as Asia reassesses favorable markets

The EU’s Eur180/MWh gas price cap would not impact Asian LNG trade flow in the near term but could tighten supplies to Europe in 2023 as some Asian suppliers might opt to sell to other markets, market sources told S&P Global Commodity Insights Dec. 20. The EU’s energy ministers agreed Dec. 19 to implement a new gas market correction mechanism that imposes a TTF price ceiling of Eur180/MWh for a year from Feb. 15, 2023.


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