InterManager Daily News 03.11.2023.

1. NORDEN strengthens focus on growth and customers with new COO role As of 1 January 2024, NORDEN expands the company’s senior management team with the newly created position of Chief Operating Officer , Assets & Logistics, to support and drive the company’s growth ambitions in delivering integrated freight solutions to our customers including port logistics and lower emission services. https://cyprusshippingnews.com/2023/11/01/norden-strengthens-focus-on-growth-and-customers-with-new-coo-role/
2. Tanker Equities on the Rise according to Drewry The Drewry Crude Tanker Equity Index has been largely on an uptrend since early July. The index jumped 10.6% in the past month (from 27 September to 26 October) and substantially outperformed the broader S&P 500, which was corrected by 3.2% over the same period. So far, 2023 has been very volatile for stocks of crude tanker shipping companies. https://cyprusshippingnews.com/2023/11/01/tanker-equities-on-the-rise-according-to-drewry/
3. Prestige oil spill aftermath continues to linger Over 20 years after the MT Prestige (the “Prestige”) split in half and sank, releasing 77,000 MTs of heavy crude oil onto the Spanish and French coasts, the aftermath continues to preoccupy the courts. “Two separate arbitration awards were issued in 2013 making negative declarations in favour of the Club against France and Spain that each was bound by the arbitration clause in the Club’s Rules.” https://cyprusshippingnews.com/2023/11/01/prestige-oil-spill-aftermath-continues-to-linger/
4. New arrangement for new build fishing vessels up to 15m in length ‘We hope updates to the service can address some concerns around waiting times An agreement with the Maritime and Coastguard Agency means that more small new build fishing vessels will have access to external surveyors and engineers. https://cyprusshippingnews.com/2023/11/01/new-arrangement-for-new-build-fishing-vessels-up-to-15m-in-length/
5. Mawani boosts Maritime links with addition of CMA CGM’s India Gulf Express Service to King Abdulaziz Port The Saudi Ports Authority has announced the addition of the India Gulf Express freight service, operated by the French container carrier CMA CGM, to King Abdulaziz Port. This strategic move aims to further strengthen Saudi Arabia’s maritime links and enhance the Kingdom’s position as a leading logistics and economic powerhouse. https://cyprusshippingnews.com/2023/11/01/mawani-boosts-maritime-links-with-addition-of-cma-cgms-india-gulf-express-service-to-king-abdulaziz-port/
6. Hyundai Glovis lines up orders for world’s largest car carriers South Korea’s Hyundai Glovis is set to build the world’s lagest pure car and truck carriers. The shipping and logistics unit of Hyundai Motor Group unveiled plans in a local stock exchange filing to spend around $1.84bn on a dozen LNG dual-fuel 10,800 ceu vessels for delivery in 2027. https://splash247.com/hyundai-glovis-lines-up-orders-for-worlds-largest-car-carriers/
7. Noble scores drillship and jackup contracts New York and Copenhagen-listed offshore rig owner Noble Corporation has secured more work for its drillships and a pair of jackups units. The 2011-built floaters Noble Globetrotter I and 2013-built Noble Globetrotter II have both received additional contracts from Shell for work in the US Gulf of Mexico. https://splash247.com/noble-scores-drillship-and-jackup-contracts/
8. Crisis in U.S. Offshore Wind Industry Escalates The crisis engulfing the US offshore wind industry escalated as Orsted A/S and BP Plc became the latest developers to take large writedowns on projects, putting President Joe Biden’s ambitious targets for renewable energy generation at risk.https://gcaptain.com/crisis-in-us-offshore-wind-industry-escalates/
9. Ukraine Says Russia Dropped Explosives on Black Sea Shipping Lanes Ukraine said on Wednesday Russian warplanes had dropped “explosive objects” into the likely paths of civilian vessels in the Black Sea three times in the last 24 hours, but that its fledgling shipping corridor was still operating. Ukraine is trying to build up a new shipping lane without Russian approval to revive its vital seaborne exports. Russia said it would consider any vessel a potential military target after it quit a U.N.-brokered deal in July that allowed some food exports to flow despite the war. https://gcaptain.com/ukraine-russia-dropped-explosives-black-sea-shipping-lanes/
10. Shipping industry could lose $10 billion a year battling climate change by 2050 Severe drought has caused water levels in the Mississippi River to drop so low that ships have been running aground. To keep commerce flowing, the U.S. Army Corps of Engineers is now using a dredge ship to push out silt in the river near Vicksburg, Mississippi. The chief of navigation for the corps told local media the low water level can cause a major financial impact. https://www.shippingtribune.com/news/shipping/Shipping+industry+could+lose+%2410+billion+a+year+battling+climate+change+by+2050