InterManager Daily News 08.02.2024.

1. New e-fuels project to make international shipping climate neutral Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where companies and researchers from Europe will develop and convert a bulk carrier to sail on climate-neutral fuels and green power. https://cyprusshippingnews.com/2024/02/06/new-e-fuels-project-to-make-international-shipping-climate-neutral/
2. US LNG export pause leaves EU, industry at odds over energy security Europe will have enough gas supply for the next 10 years and thereafter despite a move by the U.S. administration to pause approvals on new liquefied natural gas (LNG) plants, EU energy officials and analysts said, dismissing industry’s warnings. https://cyprusshippingnews.com/2024/02/06/us-lng-export-pause-leaves-eu-industry-at-odds-over-energy-security/
3. Biden’s pause on US LNG export approvals: four questions answered On January 26th, after weeks of speculation and mounting concerted pressure from environmental activists and others, US President Joe Biden announced a temporary pause on approving new US LNG export projects by an Executive Order. Existing and under construction US LNG projects are not affected. https://cyprusshippingnews.com/2024/02/06/bidens-pause-on-us-lng-export-approvals-four-questions-answered/
4. Russian LPG exports to China by rail rose 35% in 2023 Russia raised exports of liquefied petroleum gas (LPG) to China via railways by 35% to 202,000 metric tons last year, according to Reuters calculations based on industry data, diverting flows from Europe after sanctions over its actions in Ukraine. https://cyprusshippingnews.com/2024/02/06/russian-lpg-exports-to-china-by-rail-rose-35-in-2023/
5. Publication of the list of Administering Authorities under EU ETS Since 1 January 2024, the maritime sector has been included in the EU Emission Trading System (EU ETS). (See Class News 07/2023, 14/2023, 21/2023 for additional details on the inclusion of maritime in the EU ETS). https://cyprusshippingnews.com/2024/02/06/publication-of-the-list-of-administering-authorities-under-eu-ets/
6. Judgement has found in favour of PD PORTS having of access in legal dispute with South tees Development Corp. and Teesworks A judgment has been handed down today, 5th February 2024, by Mr Justice Rajah, in the legal case commenced by the South Tees Development Corporation against PD Ports contending that PD Teesport had no rights of access across the Corporation’s land. STDC’s stance was supported by Teesworks Limited who was also a party to the claim. The judgment has found in favour of PD Ports having rights of access in the three key areas of contention, including to South Gare. https://cyprusshippingnews.com/2024/02/06/judgement-has-found-in-favour-of-pd-ports-having-of-access-in-legal-dispute-with-south-tees-development-corp-and-teesworks/
7. Stolt-Nielsen bolsters position in rival Odfjell Chemical tanker giant Stolt-Nielsen has increased its stake in Norwegian competitor Odfjell, cementing itself as the company’s second-largest shareholder.The Oslo-listed firm has accumulated about 8.2m of the class A shares, equaling 13.6% ownership interest, second behind Norchem in Denmark, which sits comfortably at the top and in which Odfjell chairman Laurence Odfjell has a controlling interest. https://splash247.com/stolt-nielsen-bolsters-position-in-rival-odfjell/
8. Red Sea Chaos Causing Global Oil Buyers to Shop Local The global oil market is looking increasingly local as militant attacks in the Red Sea and surging freight rates make supplies from closer to home more attractive.A slump in tanker traffic through the Suez Canal is spurring the beginnings of a split, with one trading region centered around the Atlantic Basin and including the North Sea and the Mediterranean, and another encompassing the Persian Gulf, the Indian Ocean and East Asia. https://gcaptain.com/red-sea-chaos-causing-global-oil-buyers-to-shop-local/
9. Baltic index hits one-week high on capesize strength The Baltic Exchange’s dry bulk sea freight index rose to a one-week high on Monday, as gains in the capesize segment overshadowed declines in rates for smaller vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 29 points, or 2.1%, at 1,436 points, its highest since Jan. 29. https://www.shippingtribune.com/news/shipping/Baltic+index+hits+one-week+high+on+capesize+strength
10. India: Government issues Guidelines for Pilot Projects for utilizing Green Hydrogen in Shipping Sector The Government of India has come out with guidelines for undertaking pilot projects for using green hydrogen in the shipping sector. The guidelines, named “Scheme Guidelines for implementation of Pilot projects for use of Green Hydrogen in the Shipping Sector”, have been issued by the Ministry of New & Renewable Energy (MNRE) on 1st February, 2024, under the National Green Hydrogen Mission. https://www.shippingtribune.com/news/shipping/India%3A+Government+issues+Guidelines+for+Pilot+Projects+for+utilizing+Green+Hydrogen+in+Shipping+Sector