1. Container shipping market exploding in 2024, but 2025 could be a different story says BIMCO. We have revised our assumption regarding when ships might return to normal Red Sea and Suez Canal routings. In our previous report, we assumed that reroutings will only impact the first half of 2024. Since there are no signs of a resolution, we now work with a scenario assuming that all of 2024 will be impacted and normal routings will resume starting in 2025.
https://cyprusshippingnews.com/2024/07/01/container-shipping-market-exploding-in-2024-but-2025-could-be-a-different-story-says-bimco/
https://cyprusshippingnews.com/2024/07/01/container-shipping-market-exploding-in-2024-but-2025-could-be-a-different-story-says-bimco/
2. AD Ports Group and the International Trade Centre (ITC) Sign a Strategic MOU for Cooperation to Enhance the Trade Facilitation Initiatives Globally. AD Ports Group (ADX: ADPORTS), one of the world’s leading facilitators of global trade, logistics, and industry, and the International Trade Centre (ITC), the joint agency of the United Nations and the World Trade Organization (WTO), signed today a memorandum of understanding (MOU) to cooperate on trade facilitation, digital trade, logistics and transport through policy dialogue, digital trade solutions, capacity building, experience sharing and technical assistance.
https://cyprusshippingnews.com/2024/07/01/ad-ports-group-and-the-international-trade-centre-itc-sign-a-strategic-mou-for-cooperation-to-enhance-the-trade-facilitation-initiatives-globally/
https://cyprusshippingnews.com/2024/07/01/ad-ports-group-and-the-international-trade-centre-itc-sign-a-strategic-mou-for-cooperation-to-enhance-the-trade-facilitation-initiatives-globally/
3. Simulators should reflect actual system behaviour, not perfection – which doesn’t exist in the real world. In the maritime and offshore energy and renewables industries, where precision and safety in handling and lifting solutions are paramount, the need for highly reliable and realistic training and testing solutions is critical, says Stig Espeseth, CTO of Norwegian motion-compensated gangway and crane technology vendor Seaonics.
https://cyprusshippingnews.com/2024/07/01/simulators-should-reflect-actual-system-behaviour-not-perfection-which-doesnt-exist-in-the-real-world/
https://cyprusshippingnews.com/2024/07/01/simulators-should-reflect-actual-system-behaviour-not-perfection-which-doesnt-exist-in-the-real-world/
4. Höegh Autoliners signs another 5-year contract with a major international car producer. Höegh Autoliners has signed a 5-year contract with a major international car producer for transport of cars from US and Mexico to the Middle East.Andreas Enger, CEO of Höegh Autoliners, comments: “We are pleased to have formalized the collaboration with one of our most important customers in the form of a five-year contract for the transport of their cargo from US and Mexico to the Middle East.
https://cyprusshippingnews.com/2024/07/01/hoegh-autoliners-asa-signs-another-5-year-contract-with-a-major-international-car-producer/
https://cyprusshippingnews.com/2024/07/01/hoegh-autoliners-asa-signs-another-5-year-contract-with-a-major-international-car-producer/
5. Centurion Bulk takes over Integrity Bulk. Singapore’s Centurion Bulk has acquired Denmark-based operator Integrity Bulk for an undisclosed sum.Centurion, established in 2013, charters and operates over 80 handysize to ultramax bulkers, while Integrity, incorporated in Denmark in October 2014, lists 12 ships in the handy market on its website.
https://splash247.com/centurion-bulk-takes-over-integrity-bulk/
https://splash247.com/centurion-bulk-takes-over-integrity-bulk/
6. Wilson firms up eight bulker newbuilds in India. Norway’s Wilson has expanded its newbuilding programme with eight more energy-efficient bulkers in a deal worth about $132m. The mini-bulker giant, controlled by shipowner Kristian Eidesvik and his family, has added 6,300 dwt newbuilds on top of the six 3,800 dwt vessels ordered at India’s Cochin Shipyard last June.
https://splash247.com/wilson-firms-up-eight-bulker-newbuilds-in-india/
https://splash247.com/wilson-firms-up-eight-bulker-newbuilds-in-india/
7. Shipping ‘Tonne-Miles’ Leap Most Since 2010 After Red Sea Attacks. A gauge of global sea transport is heading for its biggest annual jump since 2010 after attacks in the Red Sea have forced ships to travel longer distances. Shipping activity measured in ton miles is set for the second largest annual increase on record as a result of geopolitical disruptions in the Middle East and Europe, according to Clarksons Research, a unit of the world’s largest shipbroker.
https://gcaptain.com/shipping-tonne-miles-leap-most-since-2010-after-red-sea-attacks/
https://gcaptain.com/shipping-tonne-miles-leap-most-since-2010-after-red-sea-attacks/
8. New Fuel Restrictions for Ships in Arctic Fall Short, Green Groups Say. Ships sailing through Arctic waters will no longer be able to use or carry heavy bunker fuel oil under a United Nations shipping agency regulation which took effect on Monday. Yet environmental groups say the ban does not go far enough in geographic scope or addressing dirty black carbon emissions from ships, which can darken white ice and speed up the melting wrought by climate change.
https://gcaptain.com/new-fuel-restrictions-for-ships-in-arctic-fall-short-green-groups-say/
https://gcaptain.com/new-fuel-restrictions-for-ships-in-arctic-fall-short-green-groups-say/
9. ‘Extremely Dangerous’ Hurricane Beryl Strengthens Before Landfall in Caribbean. Hurricane Beryl strengthened as it churned toward the Caribbean’s Windward Islands on Monday, according to officials, threatening devastating flooding and storm surges as life-threatening high winds picked up speed. People in a broad swathe of the Eastern Caribbean boarded up shops, stocked up on food and filled their cars with fuel as the storm approached.
https://gcaptain.com/extremely-dangerous-hurricane-beryl-strengthens-before-landfall-in-caribbean/
https://gcaptain.com/extremely-dangerous-hurricane-beryl-strengthens-before-landfall-in-caribbean/
10. HMM Designated as Controlled Carrier by Federal Maritime Commission. The Federal Maritime Commission (FMC), the U.S. agency responsible for ensuring a reliable and competitive international ocean transportation system, has announced the addition of Hyundai Merchant Marine (HMM) to its Controlled Carrier List due its connection to the Government of the Republic of Korea. As a result, HMM will now face increased regulatory scrutiny from the FMC.
https://gcaptain.com/hmm-designated-as-controlled-carrier-by-federal-maritime-commission/
https://gcaptain.com/hmm-designated-as-controlled-carrier-by-federal-maritime-commission/
