InterManager Daily News 20.09.2023.

1. LPG earnings sky high VLGC one year time charter rates more than double. VLGC one year time charter rates are at around 2,600,000 USD/Month, the highest levels since 2015 and more than double the levels seen at the same time last year with an increase of c.143%. Similarly, the Baltic Exchange BLPG1 is currently at a record high of 151.43 USD/MT an increase of c.137.7% from the same period. The equivalent to this is USD 140,000 per day, or MUSD 4.2 pcm.
2. NYK Group and Norwegian Maritime IT company hosted an event. Collaboration with partner companies as a driving force for innovation. NYK Group’s MTI and NYK Group Europe and a Norwegian technology provider Dualog* co-hosted an engaging panel discussion event titled “Collaboration @ Sea – Driven by Innovation” during the esteemed London International Shipping Week 2023**.
3. Port Authority of València hosts the first prototype of floating solar energy in marine waters. The startup PV NEXUS has launched the first unit of an innovative pilot project for floating solar energy in Spanish marine waters. Specifically, the Port of València hosts this first prototype of floating solar energy. “Valenciaport will support all innovations such as this one, which is a clear step towards decarbonisation and energy transition.
4. Our ports are essential to international shipping and the UK economy says the British Ports Association. The British Ports Association has welcomed the start of this year’s London International Shipping Week and reinforced the critical role that ports play in enabling the UK to access international markets. As the international shipping community descends on London, the BPA as the voice of the UK ports sector, has issued a rallying call to policy makers and industry partners. It suggests that the ports industry wants to see the right conditions at our international gateways to encourage more trade, further investment and a boost to maritime activities all around the UK.
5. DP World announced as a “Principal pathway Partner”for COP28. “We are honoured to announce our partnership with the COP28 Presidency. As a key stakeholder in the global logistics industry, we recognise the impact of our operations on the environment. Our work with COP28 and other industry peers underscores our commitment to combatting climate change and fostering sustainable global trade. It also reinforces our belief in the potential of collective action. There is an urgent need to reshape industries, redefine possibilities, and chart a course towards a more resilient, net-zero future.”
6. Nøklebye to take on Wallenius Lines CEO role in October. Erik Nøklebye has been appointed as the chief executive officer (CEO) of Swedish shipping company Wallenius Lines.Nøklebye has extensive experience in the shipping and PCTC segment and has worked in different parts of the shipping structure since the foundation of Wallenius Wilhelmsen Lines in 1999.
7. Ukraine celebrates Black Sea shipping breakthroughs. Two bulk carriers made it to the Ukrainian seaport of Chornomorsk over the weekend to pick up grain, while a ship that had been stuck in Odesa since February 2022 was able to leave in signs that Russia has loosened its grip on blockading parts of the Black Sea.
8. Milestones reached along the increasingly busy Northern Sea Route. As the world’s oceans have broken surface temperature levels consistently during the past several months, more and more eyes have looked up to the north towards the growing shipping opportunities provided by the Northern Sea Route (NSR) which now has one of the longest shipping seasons on record.
9. Cleaner vs cheaper fuels: Asia’s policy dilemma is here to stay — for now. Embracing a new energy order will surely come at a hefty cost for Asia, but will it be higher than the price the region pays for its deep addiction to imported fossil fuels? For more than 1,000 delegates who attended the Asia Pacific Petroleum Conference by S&P Global Commodity Insights in early September, a key takeaway was that Asia today is relatively better placed to strike a balance between providing affordable and sustainable energy, as well as ensuring energy security, compared to where it was a few years ago.
10. India tightens wheat stocks limits, no plan to axe import tax. India will reduce the limit on the amount of wheat stocks that traders and millers can hold but it has no immediate plans to abolish the import duty on the grain, a top government official said, indicating sufficient local supplies. Traders, wholesalers and big retailers will be allowed to hold only 2,000 tons of wheat against 3,000 tons allowed earlier, said Sanjeev Chopra, the most senior civil servant at the Ministry of Consumer Affairs, Food and Public Distribution.


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