InterManager Daily News 27.07.2023.

1. AMS Advanced Management Solutions announces strategic investment from Real Consulting. AMS Advanced Management Solutions Ltd, announced a significant milestone in its growth trajectory through a strategic investment from Real Consulting. This collaboration will enhance AMS‘s capacity to effectively tackle complex enterprise challenges in a more comprehensive manner. Additionally, AMS will have the opportunity to leverage Real Consulting’s talented consultants and extensive industry expertise, ensuring an improved customer experience through the provision of scalable software solutions. https://cyprusshippingnews.com/2023/07/25/ams-advanced-management-solutions-announces-strategic-investment-from-real-consulting/
2. The outlook for the oil market in 2024. World GDP growth in 2024 is forecast at 2.5%, slightly below this year’s expected growth level of 2.6%. Key oil-consuming countries, including China and India, along with some other developing economies in Asia, will continue their healthy growth levels and be responsible for around half of next year’s global economic growth. This is under the assumptions that general inflation will continue retraction in 2H23 and 2024. Tight monetary policies are also assumed to continue and key policy rates to peak by the end of 2023. https://cyprusshippingnews.com/2023/07/25/the-outlook-for-the-oil-market-in-2024/
3. European thermal coal struggles to find takers in Asia amid robust regional supply. European market participants are finding it increasingly difficult to resell their excess stock in Asia due to strong supply-side fundamentals for thermal coal in the region, a trend that was widely prevalent over the past several weeks, sources told S&P Global Commodity Insights. Lower-than-expected demand, decent natural gas storage levels and renewable generation led to mounting coal stockpiles in Europe over the past three months, following which traders flocked to the Asian market with their cargoes. https://cyprusshippingnews.com/2023/07/25/european-thermal-coal-struggles-to-find-takers-in-asia-amid-robust-regional-supply/
4. Asia buys near-record volumes of US crude, replaces MidEast oil. Asian refiners have booked near-record volumes of U.S. crude to be shipped in August, replacing Middle Eastern oil, as competitive prices and ample supplies attracted heavy buying, according to trade sources. The jump in U.S. imports comes on the back of strong Chinese demand for Brazilian oil in the third quarter as Asia boosts its light oil purchases from the Americas, reducing demand for similar quality grades from the United Arab Emirates. https://cyprusshippingnews.com/2023/07/25/asia-buys-near-record-volumes-of-us-crude-replaces-mideast-oil/
5. Ship fuel spreads and LNG prices fall to lowest levels in years. Fuel is one of the biggest costs in ocean shipping, and fuel pricing has seen some big changes in recent months, featuring new dynamics that haven’t been seen in years. Prior to the IMO 2020 regulation implemented on Jan. 1, 2020, most of the world’s commercial ships ran on 3.5% sulfur fuel known as high sulfur fuel oil (HSFO). Ships with exhaust-gas scrubbers can continue to burn HSFO under IMO 2020, while others — the majority of the commercial fleet — have switched to more expensive fuel with 0.5% sulfur known as very low sulfur fuel oil (VLSFO).https://cyprusshippingnews.com/2023/07/25/ship-fuel-spreads-and-lng-prices-fall-to-lowest-levels-in-years/
6. Signal links up with Germany’s Flagship Founders on maritime tech startups. Greece’s Signal Group has teamed up with German venture studio Flagship Founders to jointly develop new technology startups for the maritime industry. As part of the deal, the Ioannis Martinos-controlled Signal is taking a stake in the Berlin-based Flagship Founders and will contribute data and APIs from its Signal Ocean platform to help speed up new venture development. The partnership includes a total investment volume of €2.5m ($2.77m) and complements the €3.5m funding round Flagship Founders closed earlier this year. https://splash247.com/signal-links-up-with-germanys-flagship-founders-on-maritime-tech-startups/
7. No sign of major stimulus from Beijing Real estate stock prices soared today in Hong Kong and Shanghai, but dry bulk owners hoping for a big stimulus announcement from yesterday’s Politburo meeting in Beijing will be disappointed with the range of economic measures outlined. China’s top leaders pledged on Monday to ramp up policy support to boost domestic consumption as the economy struggles to fire post-covid. https://splash247.com/no-sign-of-major-stimulus-from-beijing/
8. NATO Convoys Can Protect Ukraine’s Grain Says Stavridis. In the latest escalation of his war crimes against Ukraine, Russian President Vladimir Putin has pulled out of the painfully negotiated grain deal that for months has permitted exports of Ukrainian and Russian agricultural products from Black Sea ports.There are several reasons for Putin’s withdrawal: frustration at Western sanctions; concern over Ukraine’s modestly successful counteroffensive; and anger at the Ukrainians’ bold strike on the symbolically and logistically important Kerch Strait bridge that connects Russia to occupied Crimea. https://gcaptain.com/nato-convoys-can-protect-ukraines-grain-says-stavridis/
9. UK and France Move to Protect the Rights and Welfare of Seafarers. The UK government has launched a new seafarers’ charter to help guarantee fair wages, proper rest periods, and suitable training for thousands of UK-based seafarers. The voluntary charter is part of the UK government’s wider Nine-point plan to protect domestic seafarers and boost employment protections launched in response to P&O Ferries’ abrupt firing of nearly 800 of UK-based ferry workers staff without consultation or notice last year. https://gcaptain.com/uk-and-france-move-to-protect-rights-and-welfare-of-seafarers/
10. Oil markets to face ‘serious problems’ as demand from India, China rises: IEF secretary general. International Energy Forum’s secretary general Joseph McMonigle said supply of oil is likely to witness serious problems in keeping up in the second half of this year. Oil prices are likely to gain in the second half of this year as supply continues to struggle to meet demand, the International Energy Forum’s secretary general Joseph McMonigle said. Oil demand came back to pre-COVID levels pretty quickly, but the supply is still facing a tough time catching up and the only factor that is moderating the oil rates at presentis the fear of a looming recession, he said. https://www.shippingtribune.com/news/shipping/Oil+markets+to+face+%E2%80%98serious+problems%E2%80%99+as+demand+from+India%2C+China+rises%3A+IEF+secretary+general+