1. Port Congestion, Far East. This week’s chart visualises the 14-day moving average of actual port days for energy cargo at Far Eastern ports, comparing the Capesize, Panamax, and Supramax segments. As shown in the image below, there is a notable decreasing trend in the Capesize segment, with the number of days recently dropping to one of the lowest points since early 2021.
https://cyprusshippingnews.com/2024/06/17/port-congestion-far-east/
https://cyprusshippingnews.com/2024/06/17/port-congestion-far-east/
2. Baltimore’s busy port fully reopens after bridge collapse, and a return to normal is expected. Commercial shipping traffic through the Port of Baltimore is expected to return to normal levels next month, officials said, after the channel fully reopened this week for the first time since the collapse of the Francis Scott Key Bridge in March.
https://cyprusshippingnews.com/2024/06/17/baltimores-busy-port-fully-reopens-after-bridge-collapse-and-a-return-to-normal-is-expected/
https://cyprusshippingnews.com/2024/06/17/baltimores-busy-port-fully-reopens-after-bridge-collapse-and-a-return-to-normal-is-expected/
3. Russian client unilaterally scratches off big order to Samsung Heavy Industries. Samsung Heavy Industries has been hit by sanctions against Russia following the Russia-Ukraine war. The company’s order worth 4.85 trillion won (approximately $3.7 billion) from a Russian client before the war broke out was blocked by sanctions and the Russian client abruptly called off the contract.
https://cyprusshippingnews.com/2024/06/17/russian-client-unilaterally-scratches-off-big-order-to-samsung-heavy-industries/
https://cyprusshippingnews.com/2024/06/17/russian-client-unilaterally-scratches-off-big-order-to-samsung-heavy-industries/
4. Eyesea and SurfCleaner team up to minimise nearshore oil spill effects. Swedish water treatment firm SurfCleaner has entered into a global partnership with maritime pollution mapping specialist Eyesea to minimise the effects of nearshore oil spills. Eyesea maps analyses and supports the recovery of pollution and maritime hazards using a portfolio of tech tools.
https://splash247.com/eyesea-and-surfcleaner-team-up-to-minimise-nearshore-oil-spill-effects/
https://splash247.com/eyesea-and-surfcleaner-team-up-to-minimise-nearshore-oil-spill-effects/
5. Lomar seals $30m bulker refinancing. Lomar Shipping has struck a new loan deal with Macquarie Group, securing $30m in the process. The deal, which was the fourth transaction between the maritime subsidiary of New York-based Libra Group and the Australian lender, will see the refinancing of three bulk carriers.
https://splash247.com/lomar-seals-30m-bulker-refinancing/
https://splash247.com/lomar-seals-30m-bulker-refinancing/
6. CSBC and DEME joint venture awarded new Taiwanese wind farm contract. CSBC-DEME Wind Engineering (CDWE), a joint venture between Taiwanese shipbuilder CSBC Corporation and DEME Offshore from Belgium has won a new offshore wind contract in Taiwan. Danish fund manager Copenhagen Infrastructure Partners (CIP) has selected CDWE to transport and install foundations for the 500 MW Fengmiao 1 offshore wind project.
https://splash247.com/csbc-and-deme-joint-venture-awarded-new-taiwanese-wind-farm-contract/
https://splash247.com/csbc-and-deme-joint-venture-awarded-new-taiwanese-wind-farm-contract/
7. U.S. Dishes Out New Sanctions Targeting Houthi Weapons Network. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions on two individuals, including a tanker master, and five entities for their alleged involvement in facilitating weapons procurement for the Iranian-backed Houthi militant group in Yemen.
https://gcaptain.com/u-s-dishes-out-new-sanctions-targeting-houthi-weapons-network/
https://gcaptain.com/u-s-dishes-out-new-sanctions-targeting-houthi-weapons-network/
8. Industry Mixed on Duration of Prolonged Red Sea Crisis. The maritime industry faces an uncertain future due to the ongoing Red Sea crisis, with a majority of industry insiders predicting the issues will continue throughout this year and even extend into 2025, warns Drewry, a leading maritime industry consultant.
https://gcaptain.com/industry-mixed-on-duration-of-prolonged-red-sea-crisis/
https://gcaptain.com/industry-mixed-on-duration-of-prolonged-red-sea-crisis/
9. Shipping Corporation’s fleet health loaded against a sale.
An ageing oil tanker fleet some of which lack approvals from oil loading terminals and oil majors, hurting employment opportunities, could scupper a deal Privatising Shipping Corporation of India Ltd (SCI) is increasingly looking a difficult task for the government to accomplish as the core shipping fleet after the demerger reveals that the assets are not healthy enough to draw the attention of any worthwhile, potential investor.
https://www.shippingtribune.com/news/shipping/Shipping+Corporation%27s+fleet+health+loaded+against+a+sale
https://www.shippingtribune.com/news/shipping/Shipping+Corporation%27s+fleet+health+loaded+against+a+sale
10. Congestion at ports of Singapore, Shanghai/Ningbo escalates disruption in global shipping.
The Singapore port is a major transshipment port used by Indian trade. While there is no respite in the Middle East for the shipping industry that continues to face hardship due to the Red Sea route suspension, there is now tension in the South East due to severe congestion at Singapore port and China’s Shanghai/Ningbo ports has only aggravated the disruptions.
https://www.shippingtribune.com/news/shipping/Congestion+at+ports+of+Singapore%2C+Shanghai%2FNingbo+escalates+disruption+in+global+shipping
https://www.shippingtribune.com/news/shipping/Congestion+at+ports+of+Singapore%2C+Shanghai%2FNingbo+escalates+disruption+in+global+shipping
