InterManager Daily News 13.02.2024.

1. Red Sea tensions drive down WAF Suezmax rates, disrupt Persian Gulf trade flows Disruption in the Red Sea has led to an influx of westward ballasters into the Atlantic region from the Persian Gulf, which has in turn played a major part in driving down freight rates for Suezmax voyages loading in West Africa, according to sources.
2. A significant drop in the number of steel and energy cargoes crossing Suez from the Far East to Mediterranean The second week of February began with a rebound in the Baltic Capesize Index, surpassing the 2,000 points mark, one of the highest points seen in the last two weeks. Meanwhile, smaller vessel size categories continued to trend downward. It remains to be seen whether there will be sustained firmness in the market just a few days before the start of the Chinese New Year.
3. VLGC rates rebound after hitting floor as shipowners hold ground Very Large Gas Carrier rates on the key Persian Gulf-Japan route reached near 35-month lows around $31.50/mt Feb. 2-5 before rebounding, as owners resisted chartering out spot ships at levels deemed below breakeven, shipping sources said.
4. Houthis say they fired at two ships in Red Sea, damaging both Yemen’s Iran-aligned Houthis said on Tuesday they had fired missiles at two vessels in the Red Sea, causing damage to the ships.The Houthis have been targeting commercial vessels with drones and missiles in the Red Sea since mid-November, in what they describe as acts of solidarity with Palestinians against Israel in the Gaza war.
5. Somali pirates are back on the attack at a level not seen in years, adding to global shipping threats Somali pirates are back on the attack, with piracy around the Horn of Africa rising sharply in recent months and adding to concerns for shipping vessels, government forces and private security already locked in a battle in the Red Sea with Houthi rebels.
6. KNOT signs for more shuttle tankers in China Knutsen NYK Offshore Tankers (KNOT) has penned a new contract with Cosco Shipping Heavy Industry (Zhoushan) for up to four suezmax shuttle tanker newbuilds.
7. Reach Subsea charters vessel duo amid increased subsea market demand Norwegian offshore services player Reach Subsea has chartered the Northern Maria and Olympic Taurus in response to increased demand.For the Northern Survey-owned Northern Maria, the charter arrangement includes a three-year firm period and two six-month options.
8. Amendments to the Limitation of Liability Act Through the Years Before dawn on Labor Day 2019, a scuba dive boat named the Conception was anchored off the coast of Santa Cruz Island just 100 feet from shore. Its passengers were sleeping below deck after a day of diving when a fire broke out, engulfing the vessel. 34 of the 38 people on board perished. The loss of the Conception’s 33 passengers and 1 crew member marked the incident as one of the deadliest maritime disasters in U.S. history.
9. UN Agency Says Aid Shipment Blocked In Israeli Port The main United Nations agency providing aid to Palestinians in Gaza is facing growing administrative hurdles from Israel, with a shipment amounting to a month’s supply of food blocked in port, the agency’s chief said.
10. Panama Canal does not plan transit restrictions at least until April The Panama Canal sees no need for further vessel transit restrictions until at least April, when its authority will evaluate water levels at the end of the dry season, Deputy Administrator Ilya Espino told Reuters.


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