1. United Maritime announced completion of previously announced tanker sale and acquisition of two capesize bulkers
United Maritime, announced that it has successfully completed the delivery of the 2008-built LR2 product tanker, M/T Minoansea, to her new owners. In addition, the Company has entered into definitive agreements to acquire two Capesize vessels from Seanergy Maritime Holdings Corp. (“Seanergy”), a related party of the Company, for an aggregate purchase price of US$36.25 million. The aggregate purchase price of the vessels was based on the average of three independent broker valuations. https://cyprusshippingnews.com/2023/01/05/united-maritime-announced-completion-of-previously-announced-tanker-sale-and-acquisition-of-two-capesize-bulkers/
2. Piraeus Port Authority back again this year with vital corporate responsibility initiatives on the occasion of Christmas
Piraeus Port Authority on the occasion of Christmas and New Year holidays, consistently and with real commitment implements for just another year its program, being part of the company’s broader social responsibility strategy, involving a range of great initiatives and actions aiming at local community, port neighboring municipalities but also employee reinforcement and broader support. https://cyprusshippingnews.com/2023/01/04/ppa-sa-bck-again-this-year-with-vital-corporate-responsibility-initiatives-on-the-occasion-of-christmas/
3. Dynagas LNG Partners announces new time charter for Arctic Aurora
Dynagas LNG Partners, an owner and operator of liquefied natural gas (“LNG”) carriers, today announced that it has entered into a new time charter partyagreement with Equinor ASA (“Equinor”) for the employment of the 2013 built ice class LNG carrier Arctic Aurora. https://cyprusshippingnews.com/2023/01/04/dynagas-lng-partners-announces-new-time-charter-for-arctic-aurora/
4. Yara is speeding up the hydrogen economy in Germany
Yara International plans to modify its ammonia terminals in Germany and will enable handling of up to 3 million tons of ammonia. This equates to roughly 530,000 tons of hydrogen and will help speed up the hydrogen economy in Germany Beyond being a vital component of fertilizers for food, clean ammonia is a sustainable source of feedstock to industries and applications. https://cyprusshippingnews.com/2023/01/09/yara-is-speeding-up-the-hydrogen-economy-in-germany/
5. John Fredriksen walks away from Euronav merger
John Fredriksen’s pursuit of Euronav is over. The Norwegian tanker magnate’s tanker firm, Frontline, on Monday announced it will no longer seek a combination with Euronav, ending one of the most high profile shipping merger sagas in history.
6. Construction of $100m offshore supply base in Newfoundland takes step forward
Fermeuse Enterprises Ltd (FEL) is close to realising its plans to build a marine base for the offshore oil and gas industry in the town of Fermeuse, Newfoundland, about 90 km south of St. John’s. The company received final approval for the project in late December and will now finalise engineering plans for construction, according to Canadian publication SaltWire. https://splash247.com/construction-of-100m-offshore-supply-base-in-newfoundland-takes-step-forward/
7. MSC Containership Grounds on Italian Breakwater -Video
A Mediterranean Shipping Company containership appears to be grounded on the breakwater at the Port of Gioia Tauro in Italy.
AIS data from MarineTraffic.comshows the ship, the 340-meter-long MSC Elaine, was outbound from the port when it apparently swung wide on a turn and grounded along a breakwater at the harbor’s entrance just after 9 a.m. Monday morning.
8. Royal Navy Rescues Five from Sinking Tug in the Caribbean
The crew of a Royal Navy offshore patrol vessel rescued five seafarers from a sinking tugboat in the Caribbean. The rescue took place Friday afternoon when the crew of the HMS Medway picked up a distress call from a tugboat some 20 miles west of the island of Sint Maarten, near to the British Overseas Territory of Anguilla, located a little more than 12 miles from the patrol ship’s location. https://gcaptain.com/royal-navy-rescues-five-from-sinking-tug-in-the-caribbean/
9. Some ocean shipping rates collapsing, but real price relief is months away
Prices in the most volatile segment of ocean shipping are collapsing, but top retailers like Walmart and Home Depot should not expect relief until the spring contract renegotiation season, industry experts said. Spot rates, which cover anywhere from 10% to 40% of ocean container shipments and are considered a key indicator of the industry’s health, are in free fall as recession looms and the pandemic-fueled U.S. import bubble deflates.
10. Baltic index snaps 6-session losing streak on higher capesize rates
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, ended a six-session losing streak on Monday, as an uptick in capesize rates outweighed losses in panamax and supramax segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, edged up nine points, or 0.8%, to 1,139. https://www.shippingtribune.com/news/shipping/Baltic+index+snaps+6-session+losing+streak+on+higher+capesize+rates