InterManager Daily News 27.10.2023.

1. Israel-Hamas war could disrupt shipping, spike freight rates, but Singapore unaffected for now Container shipping ports in Singapore have so far not been impacted by the conflict between Israel and Hamas, despite reports of congestion and a backlog of cargo at the Israeli ports of Haifa and Ashdod, as well as the closure of smaller ports around the coastal Gaza enclave.
2. Weak LSFO demand in Singapore exerts pressure on downstream margins Tepid demand for low sulfur fuel oil at the world’s largest bunker hub of Singapore, amid lean volumes of inquiries from end-users, is expected to pinch downstream margins, with ex-wharf valuations also remaining buoyed, traders said Oct. 20.
3. VLCC Tankers Market on the rise LRs in the MEG have again been at the forefront of activity this week. Although rates have not climbed exponentially, sentiments have been firm in the MEG all week for the largest of CPP vessels. TC1 hopped up 19.72 points to WS171.11 and for a run westward on TC20 the index improved $343,750 to $4.475m.
4. Middle East diesel exports to Europe slow as US steps in Europe’s diesel imports are averaging 165,000 b/d for October, more than the pace in September at 136,000 b/d, according to S&P Global Commodities at Sea data. The Middle East shipments to Europe are running at 110,000 b/d, with exports from Saudi Arabia and Qatar well below the September total pace of 317,000 b/d. Russia imposed the temporary diesel export ban on Sept. 21 to ease surging domestic fuel prices, removing an estimated 1 million b/d of diesel from the global market, according to S&P Global estimates.
5. Dry Bulk Equity Index up 9.2% in September according to Drewry In September, the Drewry Dry Bulk Equity Index rose 9.2%, outperforming the S&P 500(-4.9%), as there was a significant rise in vessel earnings. Similarly, in 3Q23, the Drewry Dry Bulk Equity Index increased 4.6%. However, when considering YTD performance, the Drewry Dry Bulk Equity Index was down 7.9%, underperforming the S&P 500(+11.4% YTD), as there was a steep decline in the index in 2Q23 due to weakening in vessel earnings arising out of lower than expected demand from China.
6. Russians drop explosive devices along Ukrainian grain corridor “For several days, there were no flights of Russian aircraft in the area of sea transport routes. However, on October 25, they intensified their activity and dropped four explosive devices. Presumably, this is done to disrupt the movement of civilian vessels and discredit the Defence Forces of Ukraine, as we continue to ensure the security of the humanitarian corridor used by ships from around the world,” a spokesperson of the Ukrainian Operational Command South told Maritime security consultant firm Ambrey.
7. Just-in-time port calls could slash boxship emissions by at least 5% Global adoption of just-in-time (JIT) port arrivals in the container shipping sector has the potential to diminish emissions by 5%. This reduction translates to roughly 17m tonnes of CO2 emissions annually, according to a recently published white paper.
8. LNG Bunker Barge Christened at Fincantieri Bay Shipbuilding Seaside LNG and Polaris New Energy have christened the LNG bunker barge Clean Everglades at Fincantieri Bay Shipbuilding in Sturgeon Bay, Wisconsin. The vessel will serve as the sister ship to the largest Jones Act-compliant LNG bunkering barge, Clean Canaveral, which was delivered by FBS two years ago and has successfully completed over 65 LNG bunker deliveries based out of Port Canaveral, Florida. With a similar design and look, the articulated tug barge has a capacity of 5,500 cubic meters of LNG.
9. Crowley to Launch LNG Bunkering at Panama Canal US-based maritime company Crowley has announced plans to launch liquefied natural gas (LNG) bunkering along the Pacific side of the Panama Canal. The bunkering services will be offered under the first permit of its kind granted by the Panama Maritime Authority.
10. New York Throws Support Behind Offshore Wind With Three Project Awards New York officials on Tuesday said the state has awarded conditional contracts to three offshore wind projects as part of a massive renewable energy procurement that will provide 12% of the state’s power needs in 2030.


Leave a reply

©2024 InterManager - Promoting Excellence In Ship Management

Log in with your credentials

Forgot your details?