InterManager Daily News 06.12.2023.

1. BW LPG signs joint venture agreement with Confidence Petroleum, and invests USD 40 Million in Confidence Petroleum and in LPG Onshore Import Terminal BW LPG announced the signing of multiple definitive Agreements, viz. a Joint Venture (JV) with Confidence Petroleum India Limited; an investment in Confidence; and an investment to develop and operate an LPG onshore import terminal in India. The first two Agreements were signed between Mr Kristian Sørensen, CEO of BW LPG, and Mr Nitin Khara, Chairman and Managing Director of Confidence Group https://cyprusshippingnews.com/2023/12/04/bw-lpg-signs-joint-venture-agreement-with-confidence-petroleum-and-invests-usd-40-million-in-confidence-petroleum-and-in-lpg-onshore-import-terminal/
2. MABUX Bunker Prices Volatility to remain the Norm next week During Week 48, the MABUX global bunker indices experienced a modest decline. The 380 HSFO index decreased by 7.15 USD, moving from 536.04 USD/MT last week to 528.89 USD/MT, although it remained above the $500 mark. The VLSFO index, in turn, lost 16.48 USD (667.76 USD/MT versus 684.24 USD/MT last week). https://cyprusshippingnews.com/2023/12/04/mabux-bunker-prices-volatility-to-remain-the-norm-next-week/
3. The Maritime Technologies Forum expands global leadership with the addition of the Maritime and Port Authority of Singapore The Maritime Technologies Forum whose founding members include ABS, DNV, Lloyd’s Register, ClassNK, Japan’s Maritime Bureau, Ministry of Land, Infrastructure, Transport and Tourism, the Norwegian Maritime Authority and the U.K.’s Maritime and Coastguard Agency, welcomed the Maritime and Port Authority of Singapore(MPA) as an associate member, further strengthening MTF’s collaborative approach to advancing safety and sustainability in the maritime industry. https://cyprusshippingnews.com/2023/12/04/the-maritime-technologies-forum-mtf-expands-global-leadership-with-the-addition-of-the-maritime-and-port-authority-of-singapore/
4. Metal Park and Galva Hub partner to create UAE’s largest Galvanising Pool in KEZAD Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE announced the signing of an agreement between Metal Park and Galva Hub that will usher in a new era of capabilities and efficiency in metal processing industry. https://cyprusshippingnews.com/2023/12/04/metal-park-and-galva-hub-partner-create-uaes-largest-galvanising-pool-in-kezad/
5. Red Sea security situation worsens Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE announced the signing of an agreement between Metal Park and Galva Hub that will usher in a new era of capabilities and efficiency in metal processing industry. https://cyprusshippingnews.com/2023/12/04/metal-park-and-galva-hub-partner-create-uaes-largest-galvanising-pool-in-kezad/
6. MSC, Maersk, CMA CGM, Hapag-Lloyd and Wallenius Wilhelmsen call for an end date of fossil-only powered newbuilds The CEOs of leading global shipping lines, MSC, Maersk, CMA CGM, Hapag-Lloyd and Wallenius Wilhelmsen, issued a joint declaration at COP 28 on Friday calling for an end date for fossil-only powered newbuilds and urging the International Maritime Organization (IMO) to create the regulatory conditions to accelerate the transition to green fuels. https://splash247.com/msc-maersk-cma-cgm-hapag-lloyd-and-wallenius-wilhelmsen-call-for-an-end-date-of-fossil-only-powered-newbuilds/
7. 95% of shipping’s zero emission fuel projects still on the drawing board New research published today shows that more than 95% of supply side projects to produce zero emission fuels in maritime shipping are in the pre-final investment decision (FID) phase, meaning that the decision to invest capital and start construction has not been made. https://splash247.com/95-of-shippings-zero-emission-fuel-projects-still-on-the-drawing-board/
8. Car carrier trades smash multiple records Record car trade volumes by sea are on track to stand 12% above pre-covid levels this year, and 19% above in car-miles, according to the latest projections from Clarksons Research, with car carriers being one of the best performing shipping sectors this year. https://splash247.com/car-carrier-trades-smash-multiple-records/
9. US Says Warship Attacked, UK-Owned Ship Hit By ‘Rocket Fire’ A US warship, the USS Carney, and multiple commercial ships came under attack Sunday in the Red Sea, Associated Press reported, citing a statement from the Pentagon. The incidents are the latest in a string of attacks on vessels in the region since rebels in Yemen last month issued a threat against ships with ties to Israel. The Pentagon didn’t identify where the latest fire came from, AP said. https://gcaptain.com/us-says-warship-attacked-uk-owned-ship-hit-by-rocket-fire/
10. Navy Will Test AI System To Track Chinese Submarines The US and two of its closest parters are set to test a new way to track Chinese submarines using artificial intelligence. Crews flying Pacific missions on the US Navy’s top maritime surveillance and attack aircraft will be using AI algorithms to rapidly process sonar data gathered by underwater devices of the US, UK and Australia, the defense chiefs of the three nations announced Friday. https://gcaptain.com/navy-will-test-ai-system-to-track-chinese-submarines/