InterManager Daily News 25.08.2023.

1. Avance Gas declared the option of newbuilding contracts for two Medium-Sized LPG/Ammonia Carriers. Avance Gas Holding has declared the option of the two mid-sized LPG/ammonia carriers (MGCs) from Nantong CIMC Sinopacific Offshore & Engineering Co., LTD (CIMC SOE), announced in June 2023. The two newbuildings are equipped with dual fuel engines capable of running on both LPG as well as compliant fuel oil. The ships will have a cargo capacity of 40,000 cubic meters and are scheduled for delivery during the second quarter and the fourth quarter of 2026. The ships are sister ships of the two MGCs contracted in June. https://cyprusshippingnews.com/2023/08/24/avance-gas-declared-the-option-of-newbuilding-contracts-for-two-medium-sized-lpg-ammonia-carriers/
2. Historic drought, hot seas slow Panama Canal shipping. Before the Ever Max shipcarrying lava lamps, sofas, Halloween costumes and artificial Christmas trees could make its inaugural Panama Canal voyage this month, a historic drought forced it to drop weight by offloading hundreds of containers. Weather-related disruptions denied the vessel, owned by Taiwanese shipping company EvergreenMarine, a chance on Aug. 1 to set a record for carrying the most containers through the vital maritime shortcut that connects the Pacific and Atlantic oceans. https://cyprusshippingnews.com/2023/08/24/historic-drought-hot-seas-slow-panama-canal-shipping/
3. Ukraine may use new Black Sea route for grain shipments -producers. Ukraine is considering using its newly-tested wartime Black Sea export corridor for grain shipments after the first successful evacuation of a vessel along the route last week, a senior agricultural official said on Monday. Russia has blockaded Ukrainian ports since it invaded its neighbour in February 2022, and threatened to treat all vessels as potential military targets after pulling out of a U.N.-backed safe-passage deal for Black Sea grain exports last month. https://cyprusshippingnews.com/2023/08/24/ukraine-may-use-new-black-sea-route-for-grain-shipments-producers/
4. Tanker shipping stocks volatile in 2023 says Drewry. So far, the year 2023 has been very volatile for stocks of crude tanker shipping companies. Drewry Crude Tanker Index rallied at the beginning of the year, followed by a declining trend between the latter half of March and June. However, the index is on an uptrend from July on the back of better-than-expected economic data from the US and a robust demand outlook for crude oil. Overall, the index jumped 26.6% YTD and outperformed the broader S&P 500, which gained 13.8% YTD. https://cyprusshippingnews.com/2023/08/24/tanker-shipping-stocks-volatile-in-2023-says-drewry/
5. Russia remains China’s top crude supplier in July despite narrower discounts. Russia remained China’s largest crude supplier in July, Chinese government data showed on Sunday, even as Russian shipments fall from all-time highs on narrower discounts and rising domestic demand crimps Russian exports. Arrivals from Russia were up 13% from the same month last year to 8.06 million metric tons in July, or 1.9 million barrels per day (bpd), according to data from the General Administration of Customs. https://cyprusshippingnews.com/2023/08/24/russia-remains-chinas-top-crude-supplier-in-july-despite-narrower-discounts/
6. Why shipping should be worried about soaring ocean temperatures. The past couple of months have seen countless headlines on wildfires and concern about the immense heat on land. Gaining less exposure, but potentially just as severe, has been the record-breaking ocean temperatures registered this year. The world’s oceans have been breaking surface temperature levels almost weekly. Such high temperatures could bring extreme weather to shipping routes and ports and cost the industry billions. https://splash247.com/why-shipping-should-be-worried-about-soaring-ocean-temperatures/
7. Shipbuilding in 2026. Andrew Craig-Bennett is back. In his first column since May, he mulls shipowners, shipyards and the realities of decarbonisation. I must apologise for having been unwell. I am now better. I will pick up where I left off.I expect that you read Pierre Aury’s article on May 3, titled Of camels and horses. It introduced me to CBAM, the Carbon Border Adjustment Mechanism, which is the measure that the European Union has put in place to try to stop more carbon-intensive manufacturing processes moving out of the EU and carrying on as before. It’s a good article to read if you want to bring yourself up to date with emissions control legislation. https://splash247.com/shipbuilding-in-2026/
8. Port of New York and New Jersey Green Lights CMA CGM’s Takeover of Two Key Container Terminals. The Port Authority of New York and New Jersey has agreed to amend leases held by Global Container Terminals Inc. (GCT) at two key container terminals in New Jersey and Staten Island, paving the way for French shipping giant CMA CGM to assume operations and increase capacity at the terminals. https://gcaptain.com/port-of-new-york-and-new-jersey-green-lights-cma-cgms-takeover-of-two-key-container-terminals/
9. Gulf of Mexico Offshore Workers Falling Victim to Heat-Related Illness as Temps Soar. The Department of the Interior’s Bureau of Safety and Environmental Enforcement (BSEE) has issued a heat advisory for offshore workers as some workers have fallen victim to heat-related illnesses. The alert comes as heat index values in some areas of the Gulf of Mexico have topped 110°F with no relief in site, according to National Weather Services forecasts. Heat index values combine air temperature and humidity to better reflect what the temperature outside actually feels like. Sea surface temperatures in the Gulf of Mexico have also been at record temperatures. https://gcaptain.com/gulf-of-mexico-offshore-workers-falling-victim-to-heat-related-illness-as-temps-soar/
10. Suez Canal resumes normal traffic after collision. Traffic through the Suez Canal has resumed normally, the canal authority said on Wednesday, hours after a collision of two vessels temporarily caused delays. “Slight contact” was made after liquefied natural gas (LNG) carrier BW Lesmes made a sudden stop due to a technical failure that coincided with a strong current that drove oil tanker Burri towards it, authority chairman Osama Rabie said in an earlier statement on Wednesday. The canal authority responded by sending tugboats to move both ships, he said. https://www.shippingtribune.com/news/shipping/Suez+Canal+resumes+normal+traffic+after+collision