InterManager Daily News 18.07.2023.

1. Baltic index edges up on panamax, supramax gains. The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, edged higher on Tuesday, aided by gains in the panamax and supramax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 8 points, or 0.8%, to 1,032. The panamax index was up 31 points, or 3.1%, at 1,027 – posting its best day in five weeks.
2. The International Maritime Bureau raises concern on resurgence of maritime piracy and armed robbery in Gulf of Guinea in 2023 mid-year report. The ICC International Maritime Bureau (IMB) has raised concern on the resurgence of reported incidents in the Gulf of Guinea waters and the increase in incidents in the Singapore Straits in its mid-year report for 2023.Sixty-five incidents of piracy and armed robbery against ships were recorded in the first half of 2023, an increase from 58 incidents for the same period in 2022.
3. Trade cools in June at the Port of Long Beach. Trade moving through the Port of Long Beach cooled in June as retailers continued to clear warehouses. Dockworkers and terminal operators moved 597,076 twenty-foot equivalent units (TEUs) last month, a 28.5% decline from June 2022, which was the Port’s busiest June on record. Imports were down 34% to 274,325 TEUs, while exports declined 18% to 94,508 TEUs. Empty containers moving through the Port decreased 25% to 228,243 TEUs.
4. Europe’s shipping emissions up to three year high. Cargo and container ships make up the lion’s share of shipping emissions, but LNG-carriers and cruise ships main driver of increased emissions. European shipping emissions grew 3% last year as the industry edges closer to pre-pandemic levels, new Transport & Environment (T&E) analysis shows. Cruise ship emissions were well up on the year before while a high number of vessels transporting LNG contributed to driving up emissions. The industry is moving closer to the point of no return, says T&E.
5. Baltic Exchange co-hosts 8th Global Shipbrokers Forum. The Baltic Exchange proudly co-hosted the 8th Global Shipbrokers Forum in Piraeus, Greece, in late June with the Hellenic Shipbrokers Association in an event that discussed a number of topics affecting the global maritime industry including environmental regulations and the impact of global sanctions.
6. Hours left before Black Sea grain deal expires. The Black Sea Grain Initiative was originally agreed upon in July last year, brokered by Turkey and the United Nations, allowing Ukraine to move nearly 33m tonnes of grain from three of its ports in the ensuing months. The deal comes up for renewal every few months, with Russia regularly leaving it to the last minute before agreeing to extend it. This time, however, the chances of renewal are looking bleak with hours to go.
7. Dutch heavylifters HEBO and Bonn & Mees merge. Dutch maritime heavy lifters HEBO Maritiem Service and Bonn & Mees Floating Sheerlegs have joined forces in an ambitious merger.The Rotterdam-based duo said the collaboration lays the foundation for sustainable growth, expanded services, and strengthened market position.
8. Oil Surge To $80 Shows Long-Awaited Market Tightening Is Here. Betting on a tighter oil market has been a bad trade for most of this year. But there are signs it’s finally paying off.After languishing for months, crude surged above $80 a barrel in London last week as fuel demand in China and elsewhere recovers from the pandemic to reach new highs. That’s happening just as production cutbacks by Saudi Arabia and its OPEC+ allies are set to rapidly drain storage tanks around the world.
9. Tanker Arrives in Yemen to Start Risky Oil Pumping Operation. A United Nations oil tanker arrived in Yemen on Sunday to begin the risky operation of pumping over a million barrels of crude oil from a decaying tanker in danger of exploding and causing an environmental disaster. The Nautica arrived at the port of Hodiedah, Yemeni Foreign Minister Ahmed Bin Mubarak tweeted, to start a pumping operation that’s been in the works for years. The ship, moored off the Yemen coast, has been described as a “ticking time bomb.”
10. Singapore’s LSFO market faces near-term pressure on buoyed stockpiles. The Singapore low sulfur fuel oil spot ex-wharf premiums would remain pressured in the near term, weighed by persistently thin demand for late-July and early-August loading cargoes amid expectations of increasing supplies at the world’s largest bunker hub of Singapore, traders said. The Asia LSFO cash differentials dropped for the 10th consecutive session July 12 to their lowest level in more than three months.


Leave a reply

©2024 InterManager - Promoting Excellence In Ship Management

Log in with your credentials

Forgot your details?