InterManager Daily News 15.09.2023.

1. Abu Dhabi Maritime reports significant increase in safe waterway usage in the Emirate. Abu Dhabi Maritime, part of AD Ports Group , has announced a 62% reduction in marine incidents in the first half of 2023 compared to the same period in 2021. Following an agreement between AD Ports Group and the Department of Municipalities and Transport in 2020, Abu Dhabi Maritime was established to govern the development of Abu Dhabi’s maritime sector, undertake the role of a regulatory authority, provide maritime services, and enhance the Emirate’s status as a global maritime capital.
2. London retains crown as leading global centre for maritime arbitration, handling 85% of global caseload. London handled more than 85% of the world’s maritime arbitration in 2022 according to the findings of a comprehensive new report published today by global law firm HFW, cementing the capital’s position as the overwhelming forum of choice for international shipping arbitrations. The report – The Maritime Arbitration Universe in Numbers – analyses the latest figures from leading maritime arbitration associations and institutions, including those not yet publicly available.
3. Russian crude oil exports to India in August at lowest level since beginning of the year. The first week of September brings a downward movement in crude oil freight rates and a continued downward trend in VLCC tonne days demand growth. MEG -Rates for China have now fallen to their lowest levels since the beginning of this year, but there is still guarded optimism for a rebound in the third quarter of the year.It is interesting to see that the dependence of the Indian economy on Russian crude oil imports has been shown to be decreasing. At the end of the summer season, Russian crude oil exports to India reached their lowest level in August, a significant drop from earlier in the year (see chart above).
4. Greece and China boost cooperation on shipping finance. Cooperation between Greece and China on shipping finance is set to receive a boost, after a conference held at the major Greek port of Piraeus. The Export-Import Bank of China (EXIMBANK) and Greek shipowners discussed the issue within the framework of China’s Belt and Road Initiative (BRI) for global infrastructure development at the conference co-organized by the Association of Banking and Financial Executives of the Hellenic Shipping (ABFEHS) and the Chinese embassy in Greece.
5. Global container freight still stalled. Global industrial production and containerised freight flows remained in the doldrums at the start of the third quarter, confounding predictions earlier in the year for a strong rebound. Manufacturers and distributors in North America and Europe were struggling to reduce excess inventories after the post-pandemic rotation from goods to services spending.
6. MSC tables bid to to buy 49.9% stake in Hamburg’s HHLA. The jewel in Germany’s port crown is set for dramatic change with news this morning that the Apontes, the richest family in Switzerland, have moved to take over Hamburger Hafen und Logistik (HHLA). The Aponte family-controlled Mediterranean Shipping Co (MSC), owners of the world’s largest containerline, has tabled a bid to take over HHLA, including all its overseas facilities.
7. Panama Canal administrator will not rule out further transit cuts. The Panama Canal Authority has warned there’s a chance the number of daily transits could be slashed further if drought persists. Ricaurte Vásquez Morales, the administrator of the Panama Canal Authority, invited the press to a conference yesterday in which he laid out how he sees traffic faring across the waterway in the short-term as well as outlining his hopes for long-term solutions to ensure lack of fresh water issues are less of a threat in the future.
8. Grounded Expedition Cruise Ship Remains Stuck in Remote Greenland Fjord. An expedition cruise ship with 206 people on board remains stuck in a remote Greenland fjord after attempts to refloat the vessel at high tide failed. The MS Ocean Explorer ran aground Tuesday in Alpefjord, part of Northeast Greenland National Park. Currently the ship remains stable with no threats to the environment and everyone on board is safe. There are no indications that the ship has suffered serious damage to its hull.
9. Bibby Marine Set to Lead Construction of World’s First eSOV. A consortium led by Bibby Marinewas awarded funding via the UK government’s Zero Emission Vessel Infrastructure (ZEVI) toward building the world’s first zero-emission electric Service Operation Vessel (eSOV). The announcement was made on Monday at London International Shipping Week. “We are excited to receive this funding and to work with our partners to launch the world’s first eSOV – the first new vessel for Bibby Marine in five years,” said Nigel Quinn, CEO of Bibby Marine.
10. Shipping must improve forecasting and not allow ‘uncertainty to delay action’ The maritime industry must improve its forecasting to prepare for a range of possible futures, according to its leading classification society. Lloyd’s Register and Lloyd’s Register Foundation have called on shipowners and other supply chain stakeholders to increase their ability to deal with significant changes and possible future scenarios – developed in a new report presented at London International Shipping Week today.


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