InterManager Daily News 22.03.2024.

1. Container rates drop to unsustainable levels, Maersk CEO says The global container shipping market faces overcapacity in the coming years and the rates paid by customers have fallen to an unsustainable level, Maersk CEO Vincent Clerc told the group’s annual meeting of shareholders on Thursday. https://cyprusshippingnews.com/2024/03/20/container-rates-drop-to-unsustainable-levels-maersk-ceo-says/
2. Yemen’s Houthis threaten to extend ship attacks to Indian Ocean Yemen’s Houthis vowed to prevent Israel-linked ships from passing through the Indian Ocean towards the Cape of Good Hope, the group’s leader Abdul Malik Al Houthi said on Thursday.“Our main battle is to prevent ships linked to the Israeli enemy from passing through not only the Arabian Sea, the Red Sea and the Gulf of Aden, but also the Indian Ocean towards the Cape of Good Hope,” Mr Al Houthi said in a televised speech. https://cyprusshippingnews.com/2024/03/20/yemens-houthis-threaten-to-extend-ship-attacks-to-indian-ocean/
3. Fortescue conducts world’s first ammonia bunker trial in Singapore Fortescue FMG.AX has conducted the world’s first ammonia marine bunker operation in the port of Singapore, the city-state’s Maritime and Port Authority (MPA) and the Australian mining company said on Friday. https://cyprusshippingnews.com/2024/03/20/fortescue-conducts-worlds-first-ammonia-bunker-trial-in-singapore/
4. Russia’s seaborne oil product exports fell in February, calculations show Russia’s seaborne oil product exports fell 1.5% in February from the previous month to 9.943 million metric tons due to unplanned maintenance at refineries, data from industry sources and Reuters calculations showed. https://cyprusshippingnews.com/2024/03/20/russias-seaborne-oil-product-exports-fell-in-february-calculations-show/
5. Gazprom uses FSRU Marshal Vasilevskiy to load LNG ship-to-ship, LSEG data shows Russia’s Gazprom GAZP.MM is using a floating storage and regasification unit (FSRU) for ship-to-ship loadings (STS) of liquefied natural gas from its Portovaya LNG plant to improve logistics as another tanker is under repair, LSEG data showed. https://cyprusshippingnews.com/2024/03/20/gazprom-uses-fsru-marshal-vasilevskiy-to-load-lng-ship-to-ship-lseg-data-shows/
6. Liner CFOs faced with ‘one of the most unpredictable years in recent times’ Chief financial officers at global liners have had severe difficulties in providing financial forecasts in the 2020s to date, with early annual forecasts often proving to be out by billions of dollars.Like the pandemic earlier on, the Red Sea shipping crisis is this year’s great unknown for liner fortunes leading to massively divergent earnings before interest and taxes (EBIT) forecasts – stretching to as big as $5bn. https://splash247.com/liner-cfos-faced-with-one-of-the-most-unpredictable-years-in-recent-times/
7. Eight dead in chemical tanker capsize incident off Japan At least eight crew members were killed after a South Korean-flagged chemical tanker anchored off the coast of Japan capsized.The 11-strong crew of the 1996-built tanker Keoyoung Sun requested assistance around 7:05 am local time on Wednesday, reporting that the vessel was tilting. https://splash247.com/two-missing-as-south-korean-tanker-capsizes-off-japan/
8. Fleet supply and trade growth get the balance right for dry bulk In its latest, Q1 2024 forecast, Maritime Strategies International (MSI) forecasts a positive year for trade growth in the dry bulk sector, supported by signs of a broad-based improvement in economic activity across developed countries. In terms of supply, the forward newbuilding orderbook and delivery schedules remain relatively subdued across vessel sizes. https://splash247.com/fleet-supply-and-trade-growth-get-the-balance-right-for-dry-bulk/
9. Tanker Operators Navigate Russian Crude Trade Amid Sanctions Despite restrictions, the Russian crude trade is expected to continue at discounted prices, benefiting the crude tanker market for vessels not subject to sanctions, according to maritime consultancy firm Drewry. https://gcaptain.com/tanker-operators-navigate-russian-crude-trade-amid-sanctions/
10. Nike Commits to Sustainable Biofuel for Portion of CMA CGM Cargo Volumes Sports apparel leader Nike has teamed up with French shipping group CMA CGM to reduce the carbon emissions from its ocean shipping, part of a broader strategy by Nike to decarbonize its supply chain. https://gcaptain.com/nike-commits-to-sustainable-biofuel-for-portion-of-cma-cgm-cargo-volumes-2/