InterManager Daily News 07.06.2023.

1. Fredriksen approaching mandatory offer for Euronav. The largest shareholder and supervisory board member now owns close to 28.5% of the Antwerp-based company after its investment vehicle, Famatown Finance, added around $63m worth of shares, lifting its stake to 21.71%, according to the latest US Securities and Exchange Commission (SEC) filing.
2. X-Press Feeders taps Huangpu Wenchong for six methanol dual-fuel containerships. Eastaway, the shipowning arm of Singapore’s X-Press Feeders, has ordered six 1,250 teu methanol dual-fuel newbuild containerships at CSSC-affiliated Huangpu Wenchong Shipbuilding.The first boxship will enter X-Press Feeders’ Europe trade routes by the second quarter of 2025, with all vessels joining the fleet by the third quarter of 2026.
3. Singapore’s Crystal Offshore to build offshore rig and vessel repair base in Abu Dhabi. AD Ports Group has signed a 25-year agreement with Singapore’s Crystal Offshore to build a base for repairs and refits of jackup rigs and marine and offshore vessels such as FPSOs and semi-submersibles in Khalifa Port, Abu Dhabi’s flagship deepwater port. Under the agreement, a 20,000 sq m plot of land and an associated quay wall in Khalifa Port will be allocated for Crystal Offshore for office facilities and new shipyard fabrication facility.
4. Belships sells ultramax as another gets fixed on index-linked contract. Norway’s Belships has sealed a deal to sell its 2015-built ultramax bulker to an unnamed buyer while chartering out another at an index-linked rate.No price tag has been revealed for the Japanese-built 60,600 dwt Belvedere, the Oslo-listed shipowner acquired about a year ago, except that it was slightly above the book value.
5. US west coast port disruption stretches into fourth day The Pacific Maritime Association, which represents west coast terminal operators, said Friday that dockworkers were “staging concerted and disruptive work actions” that had stopped or severely disrupted operations stretching from terminals at southern California’s big container port complex at Los Angeles and Long Beach to Seattle with Oakland suffering the largest disruptions. The industrial action carried on over the weekend and is ongoing today.
6. ONE Takes Delivery of First 24,000 TEU Containership Ocean Network Express (ONE) has announced the successful delivery of their first-ever 24,000-TEU class “Megamax” vessel. The vessel, named ONE Innovation, was constructed at Japan Marine United Corporation’s Kure Shipyard of Japan Marine United Corporation and delivered on June 2.
7. WinGD and Mitsubishi Shipbuilding Team Up on Ammonia-Fueled Vessels. Swiss marine power company WinGD and Japanese shipbuilder Mitsubishi Shipbuilding have signed a memorandum of understanding for a partnership on ammonia-fueled vessels.The project will see WinGD applying its X-DF-A ammonia-fueled engines to a range of vessel designs, with Mitsubishi both designing the vessels and completing the fuel chain with its ammonia fuel supply system (AFSS).
8. Multi-National Search Highlights the Role of Merchant Shipping in Maritime Search and Rescue. The recent search for the crew of a Chinese ocean-going fishing vessel, the Lu Peng Yuan Yu 028, underscored the crucial role merchant shipping plays in maritime search and rescue.While the outcome was tragic for the crew, their families and friends, the search highlighted how the seafaring community comes together in challenging circumstances to assist when their fellow seafarers are in peril.
9. Russia behind 225% spike in shadowy oil transfers at sea. As Russia seeks to up its game in circumventing Western sanctions, more oil tankers are turning off their location transponders in risky but lucrative cargo operations.An analysis of data from S&P Global Market Intelligence, including Maritime Intelligence Risk Suite (MIRS) and Maritime Portal, has found a 225% increase globally in the shadowy practice of switching off the automatic identification system (AIS) designed to maintain maritime safety and more recently to help track shipments of oil.
10. Bangladesh: Lack of Specialised Financing Key Barrier To Ship Exports: Study. A lack of specialised financial systems, such as specialised banks or loan schemes, is the key barrier to ship exports from Bangladesh where other required resources are available, according to a study by the Bangladesh Investment Development Authority (Bida).“The global shipbuilding market was valued at over $142 billion in 2020, when Bangladesh exported $18 million. As the international market is projected to reach some $195 billion by 2030, the country has the scope to grow big, but easy-term loans are crucial,” according to the study report revealed at a workshop at the Bida office in the capital yesterday.


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