InterManager Daily News 27.11.2023.

1. Ecochlor Announces CCS Letter of Intent with Diana Shipping and Sinotech Ecochlor, Inc. is proud to announce that it has signed a Letter of Intent (LOI) with a reputable ship management company, Diana Shipping Services S.A. (Diana Shipping), and carbon capture and storage (CCS) specialist, Sinotech CCS Co., Ltd (Sinotech). https://cyprusshippingnews.com/2023/11/23/ecochlor-announces-ccs-letter-of-intent-with-diana-shipping-and-sinotech/
2. LNG demand for bunkering to intensify in Med with new emissions rules With the Mediterranean set to introduce stricter limits on maritime emissions in just over 18 months time, market players in the region are already predicting that LNG is well placed as an alternative to more traditional — and polluting — marine fuels. https://cyprusshippingnews.com/2023/11/24/lng-demand-for-bunkering-to-intensify-in-med-with-new-emissions-rules/
3. China unlikely to repeat last winter’s surge of fuel exports A surge of diesel and gasoline exports from China in the last northern winter eased then-prevailing fuel shortages in Asia but a repeat performance this year is unlikely. China’s exports of refined products have eased from high levels in recent months, partly as a result of stronger domestic demand, but a lack of available quotas and shrinking profit margins for fuels have also played a role. https://cyprusshippingnews.com/2023/11/24/china-unlikely-to-repeat-last-winters-surge-of-fuel-exports/
4. North Asia LNG importers resell Dec cargoes as stocks high, domestic demand low Asian LNG importers including China, Japan and South Korea are looking to resell some December-delivery LNG cargoes in the wake of high inventories and weaker-than-expected downstream demand, multiple industry and trade sources told S&P Global Commodity Insights. https://cyprusshippingnews.com/2023/11/24/north-asia-lng-importers-resell-dec-cargoes-as-stocks-high-domestic-demand-low/
5. Ukrainian grain pushes Romania’s Constanta port to record volume Romania’s Black Sea port of Constanta shipped a record 29.4 million metric tons of grain in the first 10 months of this year, with supply from Ukraine accounting for 40% of that, the port authority told Reuters. Ukraine is one of the world’s biggest grain exporters, and Constanta has become Kyiv’s largest alternative export route since Russia invaded it last year, with grains arriving by road, rail or barge across the Danube. https://cyprusshippingnews.com/2023/11/24/ukrainian-grain-pushes-romanias-constanta-port-to-record-volume/
6. Somali pirates make their first return in years Picarate activity has been flagged offshore Somalia after many years and commercial shipping has been advised to remain outside the country’s territorial waters due to the risk of “opportunistic armed robbery”. https://splash247.com/somali-pirates-make-their-first-return-in-years/
7. IMO annual budget set to top £40m for the first time The International Maritime Organization (IMO) Assembly, the United Nations affiliate’s highest governing body, is due to meet next week with a packed schedule. The assembly consists of all member states and meets every two years at IMO’s London headquarters to thrash out upcoming work programmes, budgets as well as electing the IMO Council. https://splash247.com/imo-annual-budget-set-to-top-40m-for-the-first-time/
8. Stolt Tankers Orders Six Parcel Tankers in China UK-based tanker company Stolt-Nielsen Limited (Oslo Børs: SNI) has announced a major development in its fleet expansion plans with an order for six stainless steel parcel tankers.The 38,000 dwt tankers were ordered by the company’s subsidiary, Stolt Tankers B.V., at Wuhu Shipyard in China with deliveries between 2026 and 2028. The order includes options for an additional six newbuildings. https://gcaptain.com/stolt-tankers-orders-six-parcel-tankers-in-china/
9. Nigeria Revives Oil Tanker Tax Issue That Drove Up Freight Nigeria again demanded that shipping companies pay outstanding tax bills totaling millions of dollars, reviving a dispute that triggered a spike in freight costs and prompted some tankers to steer clear of its waters. https://gcaptain.com/nigeria-revives-oil-tanker-tax-issue-that-drove-up-freight/
10. Baltic index records third weekly gain on higher vessel rates The Baltic Exchange’s dry bulk sea freight index rose on Friday to post its third straight weekly gain as rates strengthened across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 247 points, or 13.3%, to 2,102. It was up 15.5% this week. https://www.shippingtribune.com/news/shipping/Baltic+index+records+third+weekly+gain+on+higher+vessel+rates