InterManager Daily News 02.06.2023.

1. Best Invest Congress Cyprus-India working meeting. The Cyprus-India Working Meeting was welcomed by the Shipping Deputy Minister, Marina Hadjimanolis, who thanked the High Commissioner of India to Cyprus, Mrs. Madhumita Hazarika Bhagat for the invitation, and pointed out the excellent opportunity that this meeting offers to the participants to be informed about the latest developments in the business and investment sector, with a substantial exchange of views on a number of issues of common interest, as well as to explore the opportunities offered by the two countries.
2. Intellian and the Grupo Arbulu partner to deliver Cutting-Edge Maritime Connectivity Solutions. Intellian Technologies, the leader in global satellite content connectivity solutions, and Grupo Arbulu, a global technology and innovation leader in the maritime industry, have announced their partnership, to deliver high-end and reliable, cutting-edge maritime connectivity solutions within the industry.
3. Global Shipping Business Network welcomes Ocean Network Express to further expand collaboration and digitalisation in shipping. Global Shipping Business Network (GSBN), an independent, not-for-profit technology consortium building a blockchain-enabled operating system designed to redefine global trade, welcomes Ocean Network Express Pte Ltd. (ONE) as its latest member. This follows a successful trial of GSBN’s Cargo Release with ONE’s customers.
4. Pakistan to receive Russian Urals crude for first time in small batches early June. Pakistan is scheduled to receive around 750,000 barrels of Urals crude over the coming days, which would mark the South Asian nation’s first commercial-scale purchase of Russian crude oil as it looks to take advantage of steep discounts on the medium sour grade to save on energy import costs and dollar reserves, industry and government sources said over May 27-30.
5. Cash premiums for VLSFO steady, sentiment subdued. Asia’s very-low sulphur fuel oil (VLSFO) markets remained steady on Tuesday for a second straight day amid muted trading activity at the Singapore window and lingering concerns around a rise in supplies.The cash premium for 0.5% VLSFO slipped to $7.03 a tonne over Singapore quotes from $7.06 a day earlier.
6. UAE clamps down on smaller P&I clubs. In a move to clamp down on shady ships joining its ship registry, the United Arab Emirates Maritime Administration has issued a circular demanding all clubs not in the International Group of Protection and Indemnity Clubs who insure any UAE-flagged ship need to furnish the country’s regulators with more information.
7. Canal construction underway in southwest China. China has started building its first new canal in many centuries.Linking Nanning, capital of South China’s Guangxi Zhuang autonomous region, with the Beibu Gulf, the Pinglu Canal will be 134.2 km long and is one of three canal projects planners aim to get constructed across the nation in the coming years.
8. Tune Chemical Tankers books up to four methanol-powered ships in Turkey. Rottterdam-headquartered owner and operator Tune Chemical Tankers has placed an order at Tersan Shipyard in Turkey for the construction of up to four methanol-powered vessels.No price has been revealed for the two firm 16,000 dwt stainless steel oil/chemical tankers set to deliver in 2025. The order includes an option for two more ships all of which will boast an Ice Class rating.
9. Svitzer Reaches Agreement in Principle with Australian Unions. Svitzer Australia, a subsidiary of Danish shipping conglomerate A.P. Moller Maersk, has announced an agreement in principle with Australia’s maritime unions on a new labor contract for Australian tugboat crews.The agreement in-principle covers a proposed new National Towage Enterprise Agreement, which the two sides have been negotiating since late 2019. The agreement will now go up for a vote.
10. Baltic index hits over 3-month low amid lower coal imports. The Baltic exchange’s main sea freight index extended losses for the 15th session straight on Thursday, hitting its more than three-month low as shipping rates fell across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 40 points, or 4.1%, to its lowest since Feb. 24 at 937. Weaker demand for imported coal in Europe, improved supply and a seasonal lull in some of the coal trades into China are the factors pressuring overall index, said Alexis Ellender, dry bulks analyst at Kpler.


Leave a reply

©2024 InterManager - Promoting Excellence In Ship Management

Log in with your credentials

Forgot your details?