InterManager Daily News 31.01.2024.

1. The Red Sea challenge for clean tanker exports to Europe Signal Ocean has conducted an in-depth analysis of clean tanker exports traversing the Red Sea bound for Europe. Building upon our previous insights, this analysis underscores the strategic importance of the Red Sea route in facilitating the transportation of essential clean oil products to European markets, with particular emphasis on the leading contributors and their respective shares in this dynamic maritime landscape. https://cyprusshippingnews.com/2024/01/29/the-red-sea-challenge-for-clean-tanker-exports-to-europe/
2. High stakes of energy-related critical minerals With commitments made at the 2023 COP28 Climate Change Conference in Dubai to triple renewable energy production and the surging popularity of electric vehicles, the demand for minerals such as cobalt, copper, lithium, nickel, and rare earths has skyrocketed.Over the past two decades, the trade in unprocessed critical minerals has experienced an unprecedented surge, with an average annual growth rate of 10%, according to a report from the World Trade Organisation. https://cyprusshippingnews.com/2024/01/29/high-stakes-of-energy-related-critical-minerals/
3. European Commission combats drugs trafficing in ports The Commission and the Belgian Presidency of the Council of the EU, together with Member States, ports authorities, European associations, EU Agencies and representatives from customs and law enforcement authorities are launching the European Ports Alliance Public Private Partnership. The partnership aims to bring all relevant stakeholders together, to form solutions to protect ports from drug trafficking and criminal infiltration. https://cyprusshippingnews.com/2024/01/29/european-commission-combats-drugs-trafficing-in-ports/
4. DP World launches global platform as part of 35 million investment in education Maha AlQattan, Group Chief Sustainability Officer at DP World DP World has launched its Global Education Platform, a new resource for students and educators in science and logistics, as part of a $35 million (AED128.5) commitment to educational initiatives by 2030. https://cyprusshippingnews.com/2024/01/29/dp-world-launches-global-platform-as-part-of-35-million-investment-in-education/
5. European subsidy for renovation Lillo Bridge Port of Antwerp-Bruges and Infrabel will receive EUR 23 million from the Connecting Europe Facility for the renovation of the Lillo Bridge. In September 2023, they appleid for a European subsidy for the renovation of the bridge and renewal of the tracks. Today, the European Commission announced that it will support the project with a grant from the Connecting Europe Facility. https://cyprusshippingnews.com/2024/01/29/european-subsidy-for-renovation-lillo-bridge/
6. European Energy gives up on two wind projects offshore Denmark Danish renewables company European Energy has decided to drop plans regarding the development of its Omø Syd (Omø South) offshore wind project. The company has been developing the project for ten years and had the EIA approved back in 2020. However, the Danish government at the time was preparing to designate the area as a Natura 2000 bird sanctuary. https://splash247.com/european-energy-gives-up-on-two-wind-projects-offshore-denmark/
7. Prosafe flotel set for longer stay in US Gulf of Mexico Semisub accommodation vessel owner Prosafe has won an extension for the charter of its flotel Safe Concordia.The company won the contract for the vessel back in October 2022 with an undisclosed US Gulf of Mexico major. https://splash247.com/prosafe-flotel-set-for-longer-stay-in-us-gulf-of-mexico/
8. Tonne-miles leap as shipping battles peak disruption Shipping is facing peak disruption at present as it takes evasive action in the Red and Black Seas as well as shunning the parched Panama Canal.The average haul of global seaborne trade increased last year from 4,943 to 5,036 miles, the third largest annual increase this century and six times times the average, new data from Clarksons Research shows. https://splash247.com/tonne-miles-leap-as-shipping-battles-peak-disruption/
9. Asian LSFO market to be dampened by adequate supply, weak downstream demand The Asian low sulfur fuel oil market is likely to remain lackluster in 2024 amid a potential build in regional stock levels, while downstream bunker demand is expected to grow at a slower pace on the back of global macroeconomic concerns and as new scrubber-fitted vessels drive consumption growth for the cheaper high sulfur grades. https://www.shippingtribune.com/news/shipping/Asian+LSFO+market+to+be+dampened+by+adequate+supply%2C+weak+downstream+demand
10. Shipping transits through Suez Canal plunge 42% amid Houthi attacks Weekly shipping transits through the Suez Canal, a vital trade link between Europe and Asia, plunged by 42 per cent in the last two months, as Yemen’s Houthi rebels continued to attack vessels passing through the Red Sea, a report has shown.The UN agency for the interests of developing countries in world trade, Unctad, carried out a study as major players in the shipping industry suspended or withdrew Suez transits. https://www.shippingtribune.com/news/shipping/Shipping+transits+through+Suez+Canal+plunge+42%25+amid+Houthi+attacks