InterManager Daily News 24.10.2023.

1. Big 3 Korean shipbuilders likely to log quarterly profits in 11 years South Korea’s three major shipbuilders are likely to log quarterly surplus for the July-September period and remain in the black for years, thanks to rises in newbuild ship prices, banking sources said. It will be the first time that the “Big Three” companies, HD Korea Shipbuilding & Offshore Engineering Co. (KSOE), Hanwha Ocean Co. and Samsung Heavy Industries Co., post their quarterly profits at the same time in 11 years.
2. Asia Fuel Oil-VLSFO premiums retreat, HSFO stable. Spot cargo premiums for Asia’s very low sulphur fuel oil fell on Tuesday, while high sulphur fuel oil (HSFO) market stayed little changed. Singapore’s 0.5% VLSFO cash premium dipped to $20.17 a metric ton, following a further retreat of refining crack.Cash differentials for the 180-cst HSFO edged higher to a premium of $2.58 a metric ton.
3. Tankers International welcomes new pool partner Kuwait Petroleum Corporation and additional vessel from TRF One VLCC, owned and operated by Kuwait Oil Tanker Company , a subsidiary of state-owned Kuwait Petroleum Corporation , has joined the VLCC pool, while another vessel from KPC is expected to join later this month. Meanwhile, existing pool partner Transportation Recovery Fund has added another vessel – the Eco Seas – to the specialist VLCC Scrubber Pool. This brings the total fleet size to 66.
4. DP World expands automotive logistics expertise with acquisition of CFR Rinkens We are thrilled to welcome CFR Rinkens into the DP World family as we continue to deliver our strategy to provide innovative end-to-end logistics services to our clients. Our combined capabilities will empower our automotive clients to navigate the challenges presented by the industry’s shift to electric vehicles and the emerging green energy revolution.
5. Indonesia incorporates Valenciaport as a port reference A governmental delegation from the Republic of Indonesia has visited the Port of València. The delegation was led by the Secretary of the Ministry of Investment, Ikmal Lukman; the Deputy Minister of Investment Climate Development, Iwan Suryana; and the Director of Investment Deregulation, Dendy Apriandi; the three were accompanied by other institutional representatives of the Indonesian Ministry of Investment and its promotion centre in London.
6. Evergreen links up with Danish energy investor CIP on green shipping fuels Taiwanese liner Evergreen has teamed up with Danish fund manager Copenhagen Infrastructure Partners to jointly explore the production and use of carbon-neutral e-fuels. A memorandum of understanding between the world’s seventh largest liner and CIP, on behalf of its Energy Transition Fund, covers cooperation on several aspects, including the production of e-fuels in Taiwan based on offshore wind and the exploration of a broader supply of green fuels such as e-ammonia and e-methanol.
7. Harland & Wolff wins Cenovus FPSO upgrade contract British shipbuilder and fabricator Harland & Wolff has secured a contract from Canadian oil and gas company Cenovus Energy for the mid-life upgrade of the SeaRose floating production storage and offloading (FPSO). The 2004-built unit, which first came into Belfast in 2012, will return in the first quarter of 2024 and will be in the building dock for a period of more than three months.
8. Training port stakeholders to support maritime decarbonization The role of ports in supporting maritime decarbonization and the transition to greener energy was the focus of the “Port Actions for Green Shipping” workshop held in Mumbai, India (10–12 October).
9. NYK Launches Sixth LNG-Fueled Pure Car and Truck Carrier Transporting Vehicles for Mazda NYK’s sixth LNG-fueled pure car and truck carrier (PCTC), Sumire Leader, has started its transportation service for Mazda Motor Corporation (Headquarters: Aki District, Hiroshima Prefecture; Representative Director, President, and CEO: Katsuhiro Kago), arriving at the port of Hiroshima on Oct 17 and the port of Nakanoseki (Yamaguchi Prefecture) on Oct 18.
10. Signed over 300 MoUs worth Rs 6 lakh crore at Global Maritime India Summit, says Ports Minister Sonowal Over 300 Memorandum of Understanding (MoUs) valued at Rs 6 lakh crore were signed during the third Global Maritime India Summit, held in Mumbai, said Sarbananda Sonowal, Union Minister for Ports, Shipping & Waterways in an interview with CNBC-TV18.


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