InterManager Daily News 25.07.2023.

1. Cyprus Maritime Award 2023. The Shipping Deputy Ministry hereby announces that the “Cyprus Maritime Award”, a tradition dating back to 1993, will be awarded, as is customary, during the opening ceremony of the “Maritime Cyprus 2023” Conference which will take place on Sunday 8th October 2023. https://cyprusshippingnews.com/2023/07/24/cyprus-maritime-award-2023/
2. Argentina turns around LNG tanker for having Russian supplies. Argentina state-owned energy company Enarsa has called off the unloading of a cargo of liquefied natural gas from Geneva-based Gunvor after discovering it contained Russian supplies, a company source said July 19. The decision was made by Enarsa President and Argentina Economy Minister Sergio Massa because of the international sanctions against Russia for its war on Ukraine. https://cyprusshippingnews.com/2023/07/24/argentina-turns-around-lng-tanker-for-having-russian-supplies/
3. “Dancing in the Craters” campaign by maritime lawyer uses haunting song and heart-rending video to raise funds for Ukraine. A well-known maritime lawyer is using music to raise vital funds and awareness for Ukraine by releasing a haunting song and heart-rending video highlighting the impact of the war from a child’s perspective. Julian Clark, Vice President and Senior Legal Adviser of Gard (UK) Limited, was inspired to write the song, titled Putin’s War, after hosting two Ukrainian refugee families in his UK home. (He is still in close touch with them). https://cyprusshippingnews.com/2023/07/24/dancing-in-the-craters-campaign-by-maritime-lawyer-uses-haunting-song-and-heart-rending-video-to-raise-funds-for-ukraine/
4. Dirty Russian oil exports to India and clean ones to Turkey with the highest monthly export volume. As the third week of July unfolded, crude oil market rates continued to grapple with negative pressure, compounded by a noticeable increase in the supply of crude oil tankers. The demand for Very Large Crude Carriers (VLCC) tonne miles experienced a sharp decline since the second quarter, posing challenges for the industry. Looking ahead, the end of July holds the potential for optimism, contingent on the pivotal role of Chinese crude oil demand in shaping future market dynamics. https://cyprusshippingnews.com/2023/07/24/dirty-russian-oil-exports-to-india-and-clean-ones-to-turkey-with-the-highest-monthly-export-volume/
5. Asia’s LSFO cash differential drops to widest discount in over 2 years. Asia’s low sulfur fuel oil cash differential slumped to its lowest level in more than two years July 19, weighed down by higher arbitrage volumes coming into the region, aggressive offers and muted buying interests for early August-loading cargoes on the physical trade window this week. Platts assessed the cash differential for Singapore marine fuel 0.5%S cargo to the Mean of Platts Singapore marine fuel 0.5%S assessments at a discount of $1.92/mt at the Asian close July 19. The differential was at the widest discount since June 1, 2021, when it was assessed at a discount of $2.17/mt, S&P Global Commodity Insights data showed. https://cyprusshippingnews.com/2023/07/24/asias-lsfo-cash-differential-drops-to-widest-discount-in-over-2-years/
6. TT Club brings in former APM Terminals boss Morten Engelstoft as new chairman. Former chief executive of Maersk’s APM Terminals Morten Engelstoft has been elected as the new chairman of insurer TT Club as Ulrich Kranich retires from his position after sixteen years. Engelstoft is to take over as chairman of both Through Transport Mutual Insurance Association (TTB) and TT Club Mutual Insurance (TTI). He spent thirty-six years in various positions and across three regions within Maersk before retiring in June 2023 as APM Terminals’ top man. https://splash247.com/tt-club-brings-in-former-apm-terminals-boss-morten-engelstoft-as-new-chairman/
7. Nigeria’s NNPC takes stake in the country’s debut FLNG project. Nigeria’s state oil firm, NNPC, has sealed a deal with fellow developer UTM Offshore to take a 20% stake in the country’s first-ever floating liquefied natural gas (FLNG) project. The planned FLNG vessel will process and liquefy gas from the Yoho field offshore Nigeria, most likely starting in 2026, and the agreement is seen as the next step towards finalising the project. https://splash247.com/nigerias-nnpc-takes-stake-in-the-countrys-debut-flng-project/
8. Russian Drones Attack Danube Grain Terminal. Russia destroyed Ukrainian grain warehouses on the Danube River in a drone attack on Monday, targeting a vital export route for Kyiv in an expanding air campaign that Moscow began last week after pulling out of the Black Sea grain deal. Last week’s attacks mostly struck the seaports of Odesa but Monday’s pre-dawn strikes hit infrastructure along the Danube, an export route whose importance has grown since the demise of the deal allowing Ukrainian grain transit via the Black Sea. https://gcaptain.com/russian-drones-attack-danube-grain-terminal/
9. Shipowners urged to up digitalization game for GHG cuts by 2030 Shipowners can achieve decarbonization at scale within this decade with speed optimization and energy-saving equipment, according to maritime professionals — but the industry might need to digitalize data collection first. Currently, shipping companies rely on the so-called noon reporting, in which a ship’s chief engineer manually compiles information on sailing speed, vessel location, bunker inventories and weather conditions daily to gauge operational conditions. https://www.shippingtribune.com/news/shipping/Shipowners+urged+to+up+digitalization+game+for+GHG+cuts+by+2030
10. Black Sea conflict boosts wheat prices in Southeast Asia, Australia. Black Sea wheat offers into Southeast Asia rose $10/mt overnight, with Romanian and Bulgarian feed wheat offers to Vietnam for August to September shipment said to be at $282/mt CFR on July 20. The strength in European markets has spilled over into Australian markets, where domestic cash prices have firmed. “FOB offers will be up at least $10/mt, but it is a bit early to say where fair value should be,” a trader based in Australia said. https://www.shippingtribune.com/news/shipping/Black+Sea+conflict+boosts+wheat+prices+in+Southeast+Asia%2C+Australia