InterManager Daily News 25.10.2023.

1. YoungShip Cyprus in collaboration with Youngship Belgium organised a Study Visit with the title “SEA Your Horizon” YoungShip Cyprus in collaboration with Youngship Belgium organized a Study Visit with the title “SEA Your Horizon”, an Erasmus+ project hosted in Limassol, Cyprus from 28 September to 2 October 2023. 30 participants from Youngship Cyprus and Belgium including the president of Youngship International, Mrs Keshia Janssens participated in the project.
2. Shipping cannot wait for consumers or regulators to get on with decarbonisation Progress is being made by first movers but fast followers are also needed to get action underway before 2030 Insights at a decarbonisation panel discussion at the Inmarsat Connected Future Conference held during London International Shipping Week focused on the drivers, incentives and enablement of sustainable shipping.
3. Capesize gains propel Baltic index to fourth straight day of gains The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, extended gains for the fourth straight session on Wednesday on the back of a robust capesize demand. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 47 points, or 2.3%, to 2,105- its highest since late July 2022.
4. Evergreen line declares force majeure on Israel shipment Taiwanese container shipping line Evergreen has declared force majeure on a shipment to the Israeli port of Ashdod, with its Ever Cozy vessel diverted to Haifa further north due to safety concerns, according to a customer note. This is one of the first force majeures declared since Hamas Islamists launched attacks on Israel on Oct. 7, amid preparations by Israel’s military to launch ground operations into Gaza in retaliation.
5. Ships with Ukrainian crew at Russian ports risk disruption On 6 October 2023, the Russian Federation issued a government order outlining temporary special procedures for Ukrainian citizens seeking to enter Russia from a third country. From 16 October 2023, Ukrainians above the age of 14 will be permitted to enter Russia only through a few identified border control checkpoints, with the Sheremetyevo airport in Moscow appearing to be the only entry checkpoint open to Ukrainians at the time of writing.
6. Frangou closes Navios Holdings take private deal with sweetened offer Angeliki Frangou has sealed a deal to take US-listed logistics company Navios Maritime Holdings private. Frangou, via its affiliate N Logistics Holdings Corporation, is paying $2.28 per share it does not already own – a premium of about 43% to the closing price of Navios Holdings’s common stock on September 12 – the last trading day before it logged its offer.
7. Chevron buying US oil company Hess for $53bn Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The acquisition consideration is structured with 100% stock utilizing Chevron’s equity. In aggregate, upon closing of the transaction, Chevron will issue approximately 317m shares of common stock.
8. Intellian and Inmarsat developing next-gen maritime safety terminal Satellite communications tech provider Intellian Technologies and Viasat-owned Inmarsat Maritime have signed a Memorandum of Understanding (MoU) for the development of a next-generation global maritime distress and safety system (GMDSS) terminal.
9. Wayfinder delivers 8% total equivalent fuel savings on Brazil-China (BDI C14) voyages arriving in early October In the first half of October 2023 arrival window, a sampling of Capesize vessels following Wayfinder’s variable RPM and waypoint recommendations saved an average of $62,000+ per voyage across dozens of ballast and laden legs between Brazil and China (Baltic Dry Index C14). Average total equivalent fuel savings exceeded 8% and average emissions output fell by 270 MT of CO2 per leg driven by weather upside capture.
10. IMO CCC 9: Work on interim guidelines for ammonia and hydrogen as fuel The 9th session of the IMO Sub-Committee on Carriage of Cargoes and Containers (CCC 9) was held from20 to 29 September 2023. CCC 9 continued work on interim guidelines for use of ammonia and hydrogen as fuel, finalized amendments for the IGF Code, and discussed amendments to the IGC Code for gas carriers and the IMSBC and IMDG Codes on dangerous cargoes.


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