InterManager Daily News 12.03.2024.

1. Swire Bulk sells its two oldest ships Broking reports show Singapore’s Swire Bulk has let go of its two oldest ships. Swire Bulk, which boasts one of the youngest fleets among major bulker owners, has sold the Lintan and Liangchow – both 39,800 dwt and built in China in 2015, in an en bloc deal to Global Meridian for a total of $41m. https://splash247.com/swire-bulk-sells-its-two-oldest-ships/
2. Exmar LPG back at Hyundai Mipo for more gas carriers Exmar LPG has bolstered its midsize gas carrier orderbook with two more vessels at Hyundai Mipo Dockyard in South Korea.The joint venture between gas shipowners Exmar of Belgium and Stonepeak’s Seapeak has splashed about $80.5m on each 46,000 cu m ship delivering in October and December 2026. https://splash247.com/exmar-lpg-back-at-hyundai-mipo-for-more-gas-carriers/
3. Extra hotel booked as interest ramps up for inaugural Geneva Dry Due to overwhelming demand the event organisers of Geneva Dry have reached out to a nearby five-star hotel to reserve additional special room rates for delegates for May’s big global dry bulk summit. https://splash247.com/extra-hotel-booked-as-interest-ramps-up-for-inaugural-geneva-dry/
4. Grindrod secures up to $113m in debt refinancing Grindrod Shipping has struck a deal for an $83m loan with Nordea Bank and SEB Bank (Singapore). The Singapore-based bulker owner and operator is using the proceeds to refinance the existing $114.1m senior secured loan with Crédit Agricole and Hamburg Commercial Bank. https://splash247.com/grindrod-secures-up-to-113m-in-debt-refinancing/
5. US Key to Philippines’ Plan to Tap Oil, Gas in South China Sea The Philippines is counting on the US and its allies to play a crucial role in its plans to explore energy resources in the disputed South China Sea, according to Manila’s envoy to Washington. The country is seeking to parlay its deepening security ties with Washington into broader economic benefits, said Philippine Ambassador to the US Jose Manuel Romualdez. https://gcaptain.com/us-key-to-philippines-plan-to-tap-oil-gas-in-south-china-sea/
6. Shanghai Zhenhua Denies Posing Cybersecurity Risk To US Ports Shanghai Zhenhua Heavy Industries (ZPMC) 600320.SS said on Sunday its cranes do not pose a cybersecurity threat, after U.S. congressional committees questioned the Chinese state-owned company’s work on cranes bound for the United States. https://gcaptain.com/shanghai-zhenhua-denies-posing-cybersecurity-risk-to-us-ports/
7. India signs free trade agreement with European Free Trade Association; ‘win-win situation for all nations,’ says PM Modi India and the four-nation European Free Trade Association (EFTA) on Sunday signed free trade agreement in the presence of Union commerce & Industry minister Plyush Goyal. Speaking about the agreement Goyal said, “EFTA commits $100 billion Investment in India under free trade pact in the next 15 years.” https://www.shippingtribune.com/news/shipping/India+signs+free+trade+agreement+with+European+Free+Trade+Association%3B+%27win-win+situation+for+all+nations%2C%27+says+PM+Modi
8. Strikes at East Coast, Gulf ports are a big labor risk this year, and trade diversions have already started The potential for a strike by the largest union of maritime workers in North America, the International Longshoremen’s Association, is beginning to rise on the list of concerns among logistics decision-makers and advisors in a year already fraught with a multitude of trade uncertainties.https://www.shippingtribune.com/news/shipping/Strikes+at+East+Coast%2C+Gulf+ports+are+a+big+labor+risk+this+year%2C+and+trade+diversions+have+already+started
9. Strategic Partnership Announcement Between GMCG and CHM Global GMCG, a frontrunner in engineering and consultancy, alongside CHM Global, known for its excellence in marine turnkey solutions and operations, are proud to announce a strategic partnership. This collaboration is set to transform the maritime and offshore oil and gas sectors in Qatar, emphasizing innovation, quality, and comprehensive service delivery. https://cyprusshippingnews.com/2024/03/11/strategic-partnership-announcement-between-gmcg-and-chm-global/
10. Address by the Minister of Energy, Commerce, and Industry of Cyprus George Papanastasiou, at the “Cyprus Conference on Competition Law Key Trends and Developments” Ladies and gentlemen,It gives me great pleasure to be joining the distinguished guests attending today’s conference on recent developments in Competition Law, co-organised by the Commission for the Protection of Competition of the Republic of Cyprus and the University of Cyprus. The recent health and geopolitical crises and the subsequent problems created in world markets certainly highlight the crucial importance of fair trade and competition and the need for an effective implementation of the Competition Law for the benefit of both businesses and consumers. https://cyprusshippingnews.com/2024/03/11/address-by-the-minister-of-energy-commerce-and-industry-mr-george-papanastasiou-at-the-cyprus-conference-on-competition-law-key-trends-and-developments/