1. Cyprus shipping making waves
Cyprus shipping, the steady driver of the economy, is sailing for better times, having survived the war in Ukraine almost unscathed and adapting to new challenges. Marking five years since the establishment of the dedicated Shipping Deputy Ministry (SDM), Vassilios Demetriades said the maritime sector had enjoyed growth, with the Cyprus flag attracting more shipping companies and the state earnings higher revenues. https://cyprusshippingnews.com/2023/01/31/cyprus-shipping-making-waves/
2. ESCA vote positive step towards competitive ship finance in Europe
The European Parliament’s Committee on Economic and Monetary Affairs adopted last week its position on the implementation of the latest Basel prudential requirements into EU law . ECSA welcomes the outcome of the Committee’s vote, which recognises the need to safeguard the competitiveness of the European shipping industry by introducing an effective framework for fostering ship financing in Europe. https://cyprusshippingnews.com/2023/01/31/esca-vote-positive-step-towards-competitive-ship-finance-in-europe/
3. How will Maersk-MSC split redraw container shipping landscape?
The decision by MSC and Maersk — the world’s two largest container lines — to terminate the 2M vessel-sharing alliance was predictable. The bigger surprise will be what happens next. Will both MSC and Maersk go it alone after 2M ends in January 2025? Will Maersk join another alliance or create a new one? How will this affect the remaining two global alliances: Ocean Alliance and THE Alliance? And how will it affect cargo shipper pricing? https://cyprusshippingnews.com/2023/01/31/how-will-maersk-msc-split-redraw-container-shipping-landscape/
4. Will Europe’s ban on Russian diesel hike global fuel prices?
Europe is taking another big step toward cutting its energy ties with Russia, banning imports of diesel fuel and other products made from crude oil in Russian refineries. The European Union ban takes effect 5 February following its embargo on coal and most oil from Russia. The 27-nation bloc is trying to sever its last uses of Russian energy and stop feeding the Kremlin’s war chest as the anniversary of the invasion of Ukraine nears. https://cyprusshippingnews.com/2023/01/31/will-europes-ban-on-russian-diesel-hike-global-fuel-prices/
5. Addressing underwater noise from ships draft revised guidelines agreed
Draft revised Guidelines for the reduction of underwater noise from commercial shipping to address adverse impacts on marine life have been agreed by the IMO Sub-Committee on Ship Design and Construction, which met 23-27 January. The draft guidelines recognize that commercial shipping is one of the main contributors to underwater radiated noise (URN) which has adverse effects on critical life functions for a wide range of marine life, including marine mammals, fish and invertebrate species, upon which many coastal Indigenous communities depend for their food, livelihoods and cultures. https://cyprusshippingnews.com/2023/01/31/addressing-underwater-noise-from-ships-draft-revised-guidelines-agreed/
6. Hapag-Lloyd investigates ammonia fuel possibilities
Hapag-Lloyd and integrated energy company Mabanaft have signed a memorandum of understanding through which they will assess the viability of and options for the safe handling of clean ammonia as a bunker fuel in and around the Port of Hamburg. They will evaluate commercial, technical and regulatory requirements and engage with all relevant stakeholders as part of this initiative. In a second step, a similar assessment will be done for the Port of Houston. https://splash247.com/hapag-lloyd-investigates-ammonia-fuel-possibilities/
7. One out, two in at MPC Container Ships
MPC Container Ships (MPCC) has sold a 20-year-old ship and bought another two vessels. Together with its joint venture partner, MPCC has agreed to sell the 2,800 teu AS Carinthiaahead of the vessels 20-year class renewal for $7.6m. The vessel was acquired in 2017 for $5.2m and has since generated free cash flow from operations of $11.2m. https://splash247.com/one-out-two-in-at-mpc-container-ships/
8. First Australian Coal Cargoes Headed to China Since Unofficial Ban Lifted
China is set to receive at least two cargoes of Australian coal in early February, according to traders and shiptracking data, the first since an unofficial ban on imports in place since 2020 was lifted earlier this month. Coal traders will be paying attention to how easily the shipments pass customs for signs that the informal ban is truly over and in the hopes of sending more Australian coal to China. https://gcaptain.com/first-australian-coal-cargoes-headed-to-china-since-unofficial-ban-lifted/
9. Russian Crude Exports Flow to Asia
Asian markets are showing no let up in their demand for Russian oil, absorbing a big rise in seaborne exports of Urals crude this month and helping Moscow cope even as most Western buyers stay away, according to traders’ and Refinitiv Eikon data. At least 5.1 million tonnes of Urals are being shipped from Russia’s European ports of Primorsk, Ust-Luga and Novorossiysk to Asia in January, the data show. https://gcaptain.com/russian-crude-exports-flow-to-asia/
10. Nayara Energy Announced As Gold Sponsor of India Tanker Shipping & Trade Summit 2023
The Shipping Tribune is pleased to announce Nayara Energy as theGold Sponsor of The 9th India Tanker Shipping and Trade Summit 2023. The Summit is back with a bigger, better & more diversified list of participants Previous editions of this conference have received very huge response not only from India but also from Far East, Middle East and other parts of the world. https://www.shippingtribune.com/news/shipping/Nayara+Energy+Announced+As+Gold+Sponsor+of+India+Tanker+Shipping+%26+Trade+Summit+2023
