InterManager Daily News 21.03.2023.

1. Registration of Mortgages on Vessels in Cyprus

Cyprus is one of the most reputable maritime jurisdictions in the world, and its legal framework for the registration of mortgages on vessels is well-established. This article provides a comprehensive guide to the registration of mortgages on vessels in Cyprus, covering the legal framework, the procedure for registration, and the advantages of registering a mortgage on a vessel in Cyprus.

2. Nokia wireless connectivity supporting The Ocean Cleanup to rid the oceans of plastic

Nokia has announced it will deploy private wireless connectivity, network edge equipment and analytics for The Ocean Cleanup, the international non-profit project working to develop and scale technologies to rid the world’s oceans of plastic. The collaboration is in line with Nokia’s enhanced Environmental, Social and Governance strategy, as well as a broader longstanding commitment to advancing the role of technology in combatting climate change and minimizing environmental impacts.

3. Vale and Kongsberg Digital join Forces to reduce Emissions

After implementing the vessel-to-cloud Vessel Insight technology to Guaibamax Bulk Carriers in 2020, Vale, iron ore producer and charterer of one of the world’s largest fleet of ore carriers, has signed with Kongsberg Digital to install Vessel Insight on four Valemax vessels. Over the last years, Vale has invested heavily in technology to develop more efficient vessels, such as the Valemax and Guaibamax freighter classes.

4. TORM purchases three fuel-efficient MR product tankers in a partly share-based transaction

TORM has entered into an agreement to purchase three 2013-built MR eco product tanker vessels for a total cash consideration of USD 48.5m and the issuance of 1.42 million shares. The transaction will increase TORM’s total fleet to 88 vessels on a fully delivered basis.

5. ABS highlights transformational CII potential of biofuels today

That was a key message from Vassilios Kroustallis, ABS Senior Vice President, Global Business Development to a meeting of marine industry leaders in Cyprus. In a wide-ranging presentation on ABS’ latest decarbonization thinking, he outlined new research showing how a blend of biofuels could improve a vessel’s CII performance regardless of whether it was diesel, methanol or LNG-fueled.

6. Black Sea Grain Initiative renewed

The United Nations said on Saturday that the Black Sea Grain Initiative has been renewed, allowing for grain exports from three Ukrainian ports. The length of the extension remains unclear. “The Black Sea Grain Initiative, signed in Istanbul on 22 July 2022, has been extended,” the UN said.

7. AD Ports signs multiple agreements in Egypt

Abu Dhabi’s AD Ports Group has signed a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt, in addition to signing of two 15-year agreements, a memorandum of understanding (MoU) and three head of terms (HoT) concerning ports located in Egypt’s Red Sea region and the Mediterranean Sea.

8. Australia Did Not Promise US Support For Taiwan In Submarines Deal

Australia has “absolutely” not vowed to support the U.S. in a conflict over Taiwan in return for U.S. Virginia-class submarines, Australia’s Defence Minister Richard Marles said on Sunday.Australia, the U.S. and Britain this week unveiled the multi-decade AUKUS project in which Australia will buy the U.S. military submarines before joint British and Australian production and operation of a new submarine class, SSN-AUKUS.

9. What’s Included In The UN High Seas Biodiversity Treaty?

An agreement reached this month on the language of a landmark United Nations treaty to preserve marine biodiversity will transform how countries, corporations and scientific organizations do business on the high seas, the 60% of the ocean beyond any nation’s jurisdiction. If the accord is ratified as expected, what was once an essentially lawless ocean will be managed to protect ecosystems that maintain life on Earth at a time when climate impacts are intensifying.

10. Container prices in Asia take a hit in March 2023 on low demand, higher inventory – report

Container prices fell in March 2023 due to sluggish consumer demand and excess inventory in Asia, online container logistics company Container xChange said in a market forecaster report. Singapore and China saw container prices plunge by 55 percent and 47 percent year-on-year (YoY) to $1,951 and $2,284, respectively, in March 2023.


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