1. Cyprus Flag with positive performance indicators in the ICS Shipping Industry Flag State Performance Table report
The annual Shipping Industry Flag State Performance Table, published from the International Chamber of Shipping (ICS), highlights a 25% increase in flag states reporting on seafarer labour standards compared to last year. Each year flag states must report on labour standards as part of their ILO audit commitments. Some of the labour standards specific to seafarers include repatriation of seafarers, accommodation provision, health protection and medical care. https://cyprusshippingnews.com/2023/01/31/cyprus-flag-with-positive-performance-indicators-in-the-ics-shipping-industry-flag-state-performance-table-report/
2. 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/
3. 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/
4. 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. https://cyprusshippingnews.com/2023/01/31/addressing-underwater-noise-from-ships-draft-revised-guidelines-agreed/
5. Why cooperation is key to decarbonising value chains according to a clean energy expert
“We know we cannot do it ourselves,” Annika Ramsköld, Head of Sustainability at Swedish energy company Vattenfall, told the World Economic Forum in an interview conducted late in 2022. In the midst of what the International Energy Agency terms the “first truly global energy crisis”, there are green shoots of hope. https://cyprusshippingnews.com/2023/01/31/why-cooperation-is-key-to-decarbonizing-value-chains-according-to-a-clean-energy-expert/
6. Singapore’s Global Centre for Maritime Decarbonisation names Olympic Shipping first Greek owner partner
Onassis Foundation-controlled Olympic Shipping and Management (OSM) has become the first Greek ship owner and manager to partner with the Singapore-based Global Centre for Maritime Decarbonisation (GCMD), committing to a five-year collaboration to accelerate shipping’s decarbonisation. https://splash247.com/singapores-global-centre-for-maritime-decarbonisation-names-olympic-shipping-first-greek-owner-partner/
7. Why sanctions make shipowners insomniacs
There was a time when shipping was a free market: supply and demand and just a couple of rules. Over the years however shipping has become, like most other industries, ensnared in an ever growing number of laws and regulations, each of them becoming more complicated as time passes. https://splash247.com/why-sanctions-make-shipowners-insomniacs/
8. Pilots Praised for Preventing Megaship from Grounding in Southampton Waters
The UK Maritime Pilots Association is praising the actions of three ship pilots in preventing one of the world’s largest containerships from running aground in the Solent after a loss of engine power. The incident reportedly took place on January 26 following the MOL Treasure’s recent call at the Port of Southampton. At 400-meters-long and carrying capacity of more than 20,100 TEUs, the ship is among the largest in the world. https://gcaptain.com/pilots-praised-for-preventing-megaship-from-grounding-in-southampton-waters/
9. Adani Group Pledges More Shares of Ports Unit on Stock Rout
The Adani Group pledged more shares of its ports arm to lenders, reflecting the growing spotlight on the conglomerate’s liquidity amid a short seller attack that has wiped out $69 billion from the market value of Gautam Adani’s empire. Flourishing Trade and Investments Ltd. encumbered 2.69% more equity of Adani Ports & Special Economic Zone Ltd. to Catalyst Trusteeship Ltd., according to an exchange filing Tuesday. Catalyst, which is acting as a security trustee on behalf of lenders, now holds 7.79% shares of the port operator under pledge, it said. https://gcaptain.com/adani-group-pledges-more-shares-of-ports-unit-on-stock-rout/
10. Three Korean Shipbuilders Focusing on Boosting Profitability
As in 2022, Korean shipbuilders are expected to receive many orders for high value-added ships this year. Expectations for an earnings improvement are rising as orders for tankers and offshore plants are likely to revive, along with continued demand for LNG carriers.