InterManager Daily News 11.08.2023.

1. Sunken tugboat recovered from Suez Canal. The Suez Canal Authority has successfully recovered the sunken tugboat Fahd which sank following a collision with an LPG carrier. The tugboat sank in the Suez Canal on Saturday after colliding with the LPG carrier Chinagas Legend resulting in one fatality. The Hong Kong-flagged gas carrier was unscathed in the incident which took place around the 51 km point in the Al-Balah bypass.
2. Shippers look for alternatives as Panama Canal delays lengthen. Shippers are now actively rearranging Asian shipments, moving back from the US east coast to the west coast, as the full ramifications of the Panama Canal’s prolonged reduced operational capacity hits home. Facing what it has described as an “unprecedented” drought, the Panama Canal Authority has shaved a couple of metres off its maximum draft
3. MSC signs for 10 more LNG-fuelled boxships in China. Mediterranean Shipping Co (MSC) has returned to China’s Zhoushan Changhong International Shipyard for more LNG dual-fuel containerships. The Swiss-based liner giant has booked ten 10,300 teu vessels for delivery in 2026 and 2027. No price has been disclosed for the latest deal, which brings the company’s orderbook at the yard to 20 ships.
4. KVH joins ISWAN and its worldwide commitment to seafarer welfare. KVH is proud to announce its membership in ISWAN (The International Seafarers’ Welfare and Assistance Network). ISWAN is committed to improving the welfare of seafarers around the world, and KVH will contribute to its mission with a continued focus on innovative technology, services, and content that enhance crew wellbeing.
5. Torm looking at methanol, ammonia as pathway to maritime decarbonisation. After installing scrubbers on majority of its fleet to tackle sulfur emissions in response to the International Maritime Organization’s global low sulfur mandate, product tanker firm Torm is gearing up for impending decarbonization rules with alternative fuels. “We’re looking at methanol and ammonia,” Torm CEO Jacob Meldgaard said in an interview with S&P Global Commodity Insights on the sidelines of SIBCON 2022.
6. End of ‘easy bunkering’ in sight on shifting oil flows says TFG Marine. The days of picking and choosing from a range of bunker fuels at ports are disappearing as geopolitics cause oil flows to shift, meaning shippers must plan more carefully ahead to ensure they can buy the fuel they need, an official at TFG Marine said. Russia has been a key provider of 3.5% (high) sulfur fuel oil but following sanctions on its oil and with companies looking to avoid dealing with Russian counterparties, availability at some ports has become trickier while at others it has become more readily available. That has distorted traditional price premiums.
7. U.S. Container Imports Mirror Pre-Pandemic Levels. U.S. container imports climbed more than 5% last month, in-line with more typical peak shipping season levels before the pandemic’s impact on trade, according to the latest global shipping report from Descartes Systems Group (Nasdaq: DSGX). Despite the volume increase, port transit times in the U.S. remained close to their lowest levels since Descartes began tracking them two years ago.
8. Forty-One Feared Dead in Migrant Shipwreck in Central Mediterranean. Forty one migrants are thought to have died in a shipwreck last week in the central Mediterranean, Italian authorities and United Nations agencies said on Wednesday, citing survivors who have been taken to the Italian island of Lampedusa. Local public prosecutor Salvatore Vella and three U.N. agencies confirmed media reports that four people who survived the shipwreck had told rescuers they were on a boat carrying 45 people, including three children.
9. Philippine President Says No Promise Made to China to Remove Grounded Warship. PhilippinePresident Ferdinand Marcos Jr on Wednesday denied making an agreement with China to remove a grounded warship that serves as a military outpost in South China Sea, and said if there ever were such a deal, it should be considered rescinded.The Philippines maintains a handful of troops aboard the World War Two-era Sierra Madre at the Second Thomas Shoal, known by Manila as Ayungin shoal, which is located inside its 200-mile exclusive economic zone (EEZ).
10. Adani Ports Q1 net profit zooms 83% on the back of fresh acquisitions. Adani Ports and Special Economic Zone on August 8 reported a 82.57 percent rise in consolidated net profit to Rs 2,114.72 crore for the quarter ended June 2023 from Rs 1,158.28 crore reported last year. The company’s revenue from operations climbed 23.51 percent to Rs 6,247.55 crore from Rs 5,058.09 crore a year back. The company’s topline saw a positive impact from additional revenue generated by fresh acquisitions.


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