1. New Monjasa / HØST PtX Esbjerg partnership promotes green marine fuels availability in Northwest Europe
On 6 February 2023, Monjasa and HØST PtX Esbjerg have signed a Commercial Collaboration Agreement (CCA) on logistics services and offtake of green ammonia for the maritime sector. According to the CCA, Monjasa will provide logistics services that will enable distribution of green ammonia from HØST PtX Esbjerg, which is a Danish power-to-ammonia project managed by Copenhagen Infrastructure Partners (CIP). https://cyprusshippingnews.com/2023/02/08/new-monjasa-host-ptx-esbjerg-partnership-promotes-green-marine-fuels-availability-in-northwest-europe/
2. Frontline announced that all Emergency Arbitration claims initiated by Euronav are fully dismissed
Frontline announced that the Emergency Arbitration claims filed by Euronav have been fully dismissed by the Emergency Arbitrator. The decision was issues and announced, and in addition to fully dismissing the claims, orders Euronav to pay to Frontline all costs of the Emergency Arbitration proceedings, including full compensation for legal costs incurred. https://cyprusshippingnews.com/2023/02/08/frontline-announced-that-all-emergency-arbitration-claims-initiated-by-euronav-are-fully-dismissed/
3. Just how big are the global container shipping alliances?
The world’s top two container lines — Switzerland’s MSC and Denmark’s Maersk — have cooperated since 2015 in the 2M alliance, a partnership they will end in 2025. Because MSC and Maersk have the biggest fleets, controlling over a third of all global capacity between them, 2M is the largest alliance, right? https://cyprusshippingnews.com/2023/02/08/just-how-big-are-the-global-container-shipping-alliances/
4. EU ban on Russian Oil imports comes into force, as West steps up measures against Moscow
According to Lauri Myllyvirta, a lead analyst at the Centre for Research on Energy and Clean Air, the embargo, which includes EU purchases of diesel and jet fuel, will be financially damaging for Moscow. “The EU until February 5th, imported about €70 million per day worth of oil products, especially diesel from Russia,” Myllyvirta told Euronews. “And the EU has been by far the largest buyer of oil products from Russia. So, this will be highly impactful.” https://cyprusshippingnews.com/2023/02/08/eu-ban-on-russian-oil-imports-comes-into-force-as-west-steps-up-measures-against-moscow/
5. Medkon buys its biggest ship
Turkey’s Medkon Lines has bought its largest ship to date. According to Alphaliner, the Istanbul firm has taken delivery of the 1,162 teu X-Press Brahmaputra from Sea Consortium, paying around $4m for the 26-year-old ship, which has been renamed Medkon Mira. https://splash247.com/medkon-buys-its-biggest-ship/
6. Reach Subsea awarded North Sea decommissioning contract
Reach Subsea has an existing cooperation with Olympic Subsea for use of the vessel, and the companies have agreed to extend the cooperation for the whole of 2023. The vessel will be jointly marketed outside the already committed period in 2023. https://splash247.com/reach-subsea-awarded-north-sea-decommissioning-contract/
7. Championing marine assurance in the offshore market
Marine assurance is a business-critical discipline that supports safe offshore operations and ensures that operators meet the requirements of stakeholders. MIS Marine’s managing director Dominic McKnight Hardy explains how marine assurance can be applied to the offshore market. https://splash247.com/championing-marine-assurance-in-the-offshore-market/
8. U.S. Container Imports Dip Below Pre-Pandemic Levels in January
Containerized imports last month totaled just over 2 million TEUs, marking a 16.1% drop compared to January 2022. However, looking at consecutive months, January’s container imports increased 7.2% versus December to more tightly align with January 2019 levels. But imports last month actually came in 0.3% below January 2019, marking the first month to underperform pre-pandemic 2019 levels since July 2020. https://gcaptain.com/u-s-container-imports-dip-below-pre-pandemic-levels-in-january/
9. Container Imports Continue to Fall as Retailers Exercise Caution
Inbound cargo volume at major container ports across the U.S. is expected to drop to the lowest level in nearly three years this month as retailers remain cautious about the state of the economy, the National Retail Federation said Wednesday. https://gcaptain.com/container-imports-continue-to-fall-as-retailers-exercise-caution/
10. Adani Ports Q3 profit drops 16% to ?1,316 cr; revenue rises 17.5%
Adani Ports and Special Economic Zone (SEZ), the country’s largest integrated ports and logistics company, has reported a 16% year-on-year (YoY) drop in consolidated net profit at ?1,315.54 crore for the third quarter ended December 31, 2022. The Adani Group company had posted a profit of ?1,567.01 crore in the same period last year. https://www.shippingtribune.com/news/shipping/Adani+Ports+Q3+profit+drops+16%25+to+%3F1%2C316+cr%3B+revenue+rises+17.5%25
