InterManager Daily News 29.11.2023.

1. LNG Shipping Equity Index down 7.5% this year says Drewry The Drewry LNG Shipping Equity Index declined 7.5% YTD (as of 16 November 2023), underperforming the S&P 500, which surged 17.4% during the same period. The share prices of Nakilat fell 7.4%, Flex LNG 5.4% and Golar LNG 4.6% YTD, while in the last one month alone, Golar LNG’s stock price crashed 9.7%, Nakilat 6.7%, but that of Flex LNG was almost flat. https://cyprusshippingnews.com/2023/11/28/lng-shipping-equity-index-down-7-5-this-year-says-drewry/
2. A Mixed Bag for VLCCs Tankers LR’s in the MEG have regained some strength this week. The 75kt MEG/Japan TC1 index rose almost 10 points to WS133.61 (about $25,000/day TCE). The 90kt MEG/UK-Continent TC20 run to the UK-Continent also recovered, rising almost $200,000 to over $3.6m. https://cyprusshippingnews.com/2023/11/28/a-mixed-bag-for-vlccs-tankers/
3. ‘Dire’ scenario for shipping lines more likely as spot rates fall back There’s a lot at stake for container lines’ 2024 bottom lines in the last few weeks of 2023. If lines can’t push up spot rates very soon, next year’s annual contract rates will reset much lower versus this year’s. https://cyprusshippingnews.com/2023/11/28/dire-scenario-for-shipping-lines-more-likely-as-spot-rates-fall-back/
4. Panama canal announces special auction slot starting Saturday The Panama Canal, one of the world’s main maritime trade routes, announced on Friday it is launching a special auction slot on Saturday, as it battles a severe drought that has forced it to reduce daily ship crossings. https://cyprusshippingnews.com/2023/11/28/panama-canal-announces-special-auction-slot-starting-saturday/
5. European Commission to allocate €50 million to restore Ukrainian ports The European Commission will allocate 50 million euros ($54,7 million) to restore Ukrainian ports affected by Russian attacks, according to the Commission’s President Ursula von der Leyen.“Despite the war, Ukraine keeps feeding the world. In this effort, you can count on the EU. We continue enhancing our Solidarity Lanes and will provide €50 million to repair your port infrastructure. Together we ship Ukrainian grain to the world,” she wrote on X/Twitter on 25 November. https://cyprusshippingnews.com/2023/11/28/european-commission-to-allocate-e50-million-to-restore-ukrainian-ports/
6. Partnership Funding supports development of Safer Waves On the International Day for Elimination of Violence Against Women The Seafarers’ Charity, UK P&I Club and TK Foundation have joined forces to commit three years of funding for the next stage of development of Safer Waves. https://cyprusshippingnews.com/2023/11/28/partnership-funding-supports-development-of-safer-waves
7. Red Sea danger sees Israel-linked ships steer clear More Israeli-linked ships, including those operated by ZIM, the world’s 10th largest liner, are diverting, avoiding new hot spots around the Red Sea and the Horn of Africa in the wake of a series of attacks. Israel’s 52-day war with Hamas spilled out into the high seas nine days ago when a ship belonging to Ray Car Carriers, the Galaxy Leader, was hijacked by Houthi militia and taken – with its crew of 25 – to Yemen. https://splash247.com/chaotic-scenes-in-the-red-sea-as-israeli-linked-ships-are-targeted/
8. ‘No one has caused greater harm to free navigation than Russia’: Zelensky addresses the IMO Assembly In chaotic scenes not seen since the 2011 peak of the Horn of Africa piracy crisis, global merchant shipping faced a weekend of terror wrought by Houthis, Iranians and the reemergence of pirates off Somalia. https://splash247.com/chaotic-scenes-in-the-red-sea-as-israeli-linked-ships-are-targeted/
9. U.S. Navy Destroyer, Tanker Targeted by Ballistic Missiles off Yemeni Coast The U.S. Department of Defense has confirmed that two ballistic missiles were launched towards the USS Mason and a commercial tanker from Yemen early Monday morning.The incident occurred shortly after the Arleigh Burke-class destroyer successfully intervened to free a commercial tanker, the Central Park, from armed individuals who had boarded it while it was transiting the Gulf of Aden. https://gcaptain.com/uss-mason-targeted-by-ballistic-missiles-off-yemeni-coast/
10. Greek Shipowners Avoiding Russian Oil Oil tanker owners in Greece, the world’s most powerful shipowning nation, scaled back how much Russian crude they’re hauling, a decision that could ultimately disrupt the flow of Moscow’s petroleum. The number of Greek-owned tankers going to Russia will fall by a quarter this month compared with last, and is down 60% from June, ship tracking data compiled by Bloomberg show. https://gcaptain.com/greek-shipowners-avoiding-russian-oil/