InterManager Daily News 26.02.2024.

1. Fleet Management announces strategic leadership transition in its 30th year Fleet Management Limited , the world’s largest third-party ship management company, has begun implementing a phased succession plan to ensure continuity, sustained innovation and success as it enters a new era.
2. Stena Line’s CEO Niclas Mårtensson appointed to lead the Supply Chain and Transport Industry Community at the World Economic Forum Niclas Mårtensson, CEO at Stena Line, is the new Governor Chair of the Supply Chain & Transport Industry Community at the World Economic Forum. Niclas Mårtensson will represent Stena AB, playing a critical role in accelerating the transformation of the industry over the next two years.
3. Asia Distillates-Gasoil crack at over three-week low, cash premium extends decline Refining margin for gasoil slipped to more than a three-week low on Wednesday, while the cash premium also extended declines amid narrowing backwardation in recent sessions.The front-month crack dipped below $23 a barrel at the Asia close, while cash premium GO10-SIN-DIF fell to a six-week low of 83 cents a barrel.
4. EU LNG, gas prices rise after Italy’s OLT extends maintenance at Toscana LNG terminal European LNG and natural gas prices rose slightly over Feb. 19-20 after an announcement that maintenance at the FSRU Toscana LNG terminal, off the Italian coast, would be extended, however, an overall bearish tone remained in both markets.
5. S&P Global expects global trade will grow at a compound rate of 3.3% through to 2028 S&P Global published the latest edition of its Look Forward research series, focusing on the most important themes that will drive the development of global supply chains through to 2030.The global supply chain industry finds itself at a juncture, grappling with pressures from geopolitical tensions, shipping disruptions and looming threats from climate change and technological advances.
6. How world shipping has transformed in the two years since Russia’s full-scale invasion of Ukraine Saturday marks two years since the full-scale invasion of Ukraine, a war that has dramatically changed the global seaborne map, some argue irrevocably.Over the past 729 days, Russia has switched its shipments east, using all manner of subterfuge to keep oil and gas revenues high, while Ukraine has had to get highly creative to ensure its exports get to market.
7. Houthis vow to escalate attacks Despite multiple strikes against Houthi positions in Yemen this week there has been no let-up in ship attacks. A Palau-flagged general cargo ship called Islanderwas targeted with two missiles yesterday morning off Aden with a fire reported onboard and nearby military support coming in to aid the vessel.
8. Caribbean Officials Search For Missing Couple After Yacht Hijacking Police from two countries in the eastern Caribbean are investigating the possible murder of two people believed to be U.S. citizens who owned a catamaran that was hijacked by three fugitives in the waters off the island of Grenada.
9. Brazil’s Paranagua Port Resumes Operations After Berths Shut By Fire An important export terminal for agricultural commodities at the Paranagua port in southern Brazil resumed operations on Saturday after three of its berths were temporarily halted due to a fire earlier this week.The local port authority said in a statement that operations at Paranagua’s Export Corridorwere resumed at 1 p.m. local time (1600 GMT), with berths 212 and 213 performing export operations and berth 214 an import operation.
10. Shipping in the Year of the Dragon: Dry bulk Any dry bulk forecast must start with the state of the Chinese economy.In late January, a Hong Kong court ordered the liquidation of the Evergrande Group, bringing an end to two years of financial instability during which the company struggled to meet its debt obligations. This development underscores concerns about the economic challenges facing China, as the property sector represents about 25-30% of the nation’s GDP and approximately a third of the country’s domestic steel demand.


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