InterManager Daily News 15.03.2024.

1. Asia Fuel Oil-Benchmarks steady; Kuwait Al Zour offers more supply Fuel oil benchmarks were little changed in Asia on Tuesday, though the market for very low sulphur fuel oil (VLSFO) retained downside risk after Kuwait issued another spot tender for March.Kuwait’s Al Zour refinery offered another VLSFO cargo for loading in March, via a tender that closes on Tuesday, trade sources said. The cargo comprises 120,000 tons of VLSFO and is expected to load between March 22 and 24.
2. Al Masaood automobiles to set up spare parts Logistics Centre in KEZAD Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and Al Masaood Automobiles have announced the signing of a lease agreement for 12,000 sqm of warehousing space in KEZAD Logistics Park Phase 5 as their spare parts logistics centre.
3. East of Suez Bunker Fuel Availability Outlook by ENGINE In Singapore, the availability of VLSFO for immediate delivery (0-2 days) remains constrained. Despite average demand, most suppliers in Singapore are recommending lead times varying between 5-12 days for the grade. Prompt HSFO supply is also tight, with lead times ranging from 7-13 days, consistent with the previous week. Meanwhile, LSMGO lead times range from 2-8 days, similar to last week.
4. New strategic partnership for ICOMIA and EBI The International Council of Marine Industry Associations (ICOMIA) and European Boating Industry are pleased to announce the signing of a new strategic partnership agreement aimed at fostering collaboration and advancing the interests of the European and global recreational boating industry.
5. Soya bean export season is peaking: prepare for claims Brazil is the world’s top exporter of soya beans with about 75 % of exports going to China. According to the US Department of Agriculture Foreign Agricultural Service Report issued in January, around 157 million metric tons of soya beans will be produced by Brazil for the 2023/2024 season. The export typically begins in January rising rapidly to a peak in February/March before tapering off.
6. Crews’ health should not be sacrificed while they are out sea with access to regular health checks onboard, says BCS Group – Boers Crew Services Leading crew change specialist Boers Crew Services says the industry should be collaborating more to ensure the health of seafarers is treated as a priority, with initiatives in place such as access to blood tests while they are out at sea.
7. Chinese liner readies transpacific entry A new Chinese entrant is ready to enter the transpacific container trades. Hong Kong-based Hede (Hong Kong) International Shipping, part of Tangshan Port Industrial Group, will deploy two 4,250 teu ships later this month on a new service linking Shanghai and Los Angeles. Previously the shipping line focused on domestic trades with a small sideline connecting with Japan and South Korea.
8. US court rules in favour of CMB’s takeover of Euronav The Saverys family-controlled Compagnie Maritime Belge (CMB) has cleared the first obstacle for the takeover of Euronav set by US investor FourWorld Capital Management.In late February, funds managed by FourWorld filed a complaint in a US District Court regarding CMB’s offer to purchase all outstanding ordinary shares of Euronav from US holders.
9. CMA CGM drives clients to its booking platform with rewards scheme For air miles, read nautical miles – French liner CMA CGM has just unveiled a loyalty program with customers. SEA REWARD aims to forge “deeper connections with customers while providing them with exclusive benefits and a seamless digital experience”, the company stated in a release yesterday.
10. First Offshore Wind Farm Approved to Connect to New York’s Grid Energy firm Equinor on Wednesday announced the first Federal Energy Regulatory Commission (FERC) approval for an offshore wind project to connect directly into the New York City transmission system.FERC on March 1 approved the Large Generator Interconnection Agreement (LGIA) executed between the company’s Empire Wind 1 project, New York ISO (NYISO) and Consolidated Edison Co ED.N, Equinor said in a release.


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