InterManager Daily News 08.09.2023.

1. Panama Canal restrictions are rerouting LPG shipping flows. Panama Canal restrictions are already forcing ships to take multi-week detours via the Suez Canal and Cape of Good Hope. One shipping segment is more exposed to these reroutings than any other: specialized tankers that carry liquefied petroleum gas (LPG) from the U.S. to Asia.
2. ClassNK opens new survey office in Paranagua, Brazil. ClassNK has opened a new exclusive survey office in Paranagua, Brazil with operations beginning 1 September 2023. Paranagua, located in southern Brazil, ranks among the premier port cities in the country and has recently been expanding its port facilities. Recognizing the increasing number of surveys and audits in the port and the neighboring region, ClassNK has taken the initiative to open its newest office, aiming to provide more streamlined service.
3. Capesize Market trading down in UK and Singapore holidays this week. The Capesize market observed a shortened trading week due to the public holiday in the UK on Monday and another in Singapore on Friday. Trading in the Pacific region displayed consistent volumes throughout the week. The presence of all three major players led to a slightly optimistic market sentiment earlier in the week, but this positivity did not significantly impact rates on C5, which saw only a minor increase.
4. The British Ports Association is looking at the future of the ports industry with its dynamic thought leadership programme. The BPA’s Port Futures programme has been running since 2018, serving as the sector’s thought leadership platform for its members and the wider industry. The central objective of the programme is to dissect emerging trends and to explore innovative ideas within the ports and shipping sectors. As such, the BPA wants to collaborate with companies and specialists who are working at the cutting edge of maritime expertise in order to challenge, provoke and inform.
5. The Hong Kong Convention, EU regulation and outstanding legal issues in various states. With the accessions of Bangladesh and Liberia as contract parties, the Hong Kong Convention (“HKC”) will enter into force in 2025. The HKC applies to ships flying the flag of a contract party and ship recycling facilities (“SRFs”) under the jurisdiction of a contract party. Bangladesh, Belgium, Denmark, France, Germany, India, Japan, Liberia, Luxembourg, Malta, the Netherlands, Norway, Panama, Portugal and Turkey are among the contract parties to the HKC.
6. Maersk to transport Amazon goods using biofuel and methanol. Danish shipping major Maersk and e-commerce giant Amazon have finalized a 2023-2024 agreement for the transport of 20,000 FFE containers using green biofuel and methanol. Transport of the containers will be done via Maersk’s ECO Delivery product offering. The Danish firm estimates that this will contribute to a reduction in 44,600 metric tons of CO2e when compared to standard bunker fuel.
7. Diana Shipping secures charter extension from Reachy Shipping. Greek bulker owner Diana Shipping has extended the time charter contract with Reachy Shipping for one of its ice-class panamaxes. Diana Shipping said that it won an extension for the 2014-built bulker Crystalia. The gross charter rate for the 77,525-dwt vessel is $11,250 per day, minus a 5% commission paid to third parties.
8. Russia Lacks Ice-Class Vessels to Develop Arctic’s Northern Sea Route. Russia must boost production facilities for the construction of ice-breaking vessels in order to meet its targets for increasing trade via the Northern Sea route, Moscow’s official in charge of Arctic development has said. The government has been in talks with India and China on such projects, Alexei Chekunkov, the head of Russia’s Ministry for the Development of the Russian Far East and Arctic, told RBC media.
9. Staten Island Ferry Officers Secure New Contract After 13-Year Stalemate. After 13 years of negotiations, the Marine Engineers’ Beneficial Association and the City of New York have finalized an agreement on a new contract for Staten Island Ferry licensed officers, bringing their wages in line with industry standards and making the ferry system the highest paying public ferry system in the country. The agreement also includes retroactive payments and large increases for deck titles, and was easily ratified by the bargaining unit.
10. BIMCO: Tanker Shipping Market Prospects Are Looking Positive. We forecast that the crude tanker market will see cargo volume growth of between 2.0% and 3.0% in 2023 and between 3.5% and 4.5% in 2024. As average sailing distances are increasing, we estimate tonne miles growth of between 5.0% and 6.0% in 2023, and between 5.5% and 6.5% in 2024. In the product tanker market, we forecast that cargo volume growth will be between 3.0% and 4.0% in both 2023 and 2024. Tonne miles growth is estimated at between 5.5% and 6.5% for 2023 and between 5.0% and 6.0% for 2024.


Leave a reply

©2024 InterManager - Promoting Excellence In Ship Management

Log in with your credentials

Forgot your details?