InterManager Daily News 01.07.2024

1. Chinese coal terminals ‘bursting at the seams’ High rainfall, increased hydropower, and preparation for the hot summer months are all contributing to very full coal terminals up and down the Chinese coastline. Port storage is bursting at the seams, and it appears unlikely that seaborne arrivals will be absorbed, unless end-users begin directing coal inland,” analysts at broker BRS noted in their most recent dry bulk market report.
2. Car carrier fleet poised to expand by 40% The red-hot car carrier (PCTC) market, where daily rates have been in six-digit territory for months on end, is set to grow in size by around 40% in the coming few years, according to AXSRoRo, a free new monthly title from the same publishers of Alphaliner, one of the main reference points for container shipping.
3. MSC buys into Genoa airport. Cash-rich Mediterranean Shipping Co (MSC) has picked up a 15% stake in Genoa airport for an undisclosed sum. MSC, the world’s largest containerline and a big name in the cruise sector, has diversified a great deal in recent years on the back of record profits investing in airplanes, logistics companies, newspapers, towage and car carriers.
4. Gilbert Walter takes over from François Cadiou as chair of BRS. François Cadiou, 65, has stepped down as chairman of broker BRS to be replaced by the company’s CEO, Gilbert Walter.  Walter was a seafarer for 14 years before joining BRS in 1997. He became the group’s CEO two years ago.
5. SAFE BULKERS to announce the 4th Annual Scholarship Program for the academic year 2024-2025. SAFE BULKERS Inc., a New York Stock Exchange listed company and its CEO, Polys V. Hajioannou, in the context of the Company’s Environmental, Social and Governance (ESG) policy announces the 4th Annual Scholarship Program for the academic year 2024-2025.
6. Singapore port congestion shows global ripple impact of Red Sea attacks. Congestion at Singapore’s container port is at its worst since the COVID-19 pandemic, a sign of how prolonged vessel re-routing to avoid Red Sea attacks has disrupted global ocean shipping – with bottlenecks also appearing in other Asian and European ports.
7. AAL Shipping awarded top honours at AFLAS awards 2024. Premium project heavy lift carrier AAL Shipping was awarded ‘Best Shipping Line – Project Cargo’ at the 2024 Asian Freight, Logistics and Supply Chain  Awards, which took place at the Waldorf Astoria Shanghai on the Bund on June 25, to coincide with transport logistic China.
8. Monjasa introduces the largest tanker in the Panama Canal. Global top 10 marine fuels supplier, Monjasa, introduces the Panama Canal’s largest and technically most advanced tanker, the Monjasa Thunder (19,991 DWT), for improved operational flexibility. Following a fleet reshuffle, the oil and chemical tanker recently arrived in Panama from across the Atlantic, where the vessel previously served as part of Monjasa’s West Africa operations. Now, Monjasa Thunder will serve multiple purposes as the Panama Canal’s first floating storage option while also performing regional cargo and supply operations.
9. Samsung Heavy launches mega-sized LNG carrier. US. energy company Venture Global LNG announced on June 26 that Samsung Heavy Industries had launched its mega-sized LNG carrier named the ‘Venture Gator’ in South Korea. The Venture Gator is the first of nine LNG vessels ordered by Venture Global. They will be delivered in quick succession over the next two years.
10. America Must Renew its Commitment to Maritime. The United States must renew its commitment to a strong, reliable American maritime capability to confront emerging threats. China’s aggressive shipping expansion poses significant challenges to the United States and our allies. Global tensions have highlighted the vulnerability of maritime supply chains, and our domestic waterways remain a potential pathway for increasingly belligerent adversaries to cause harm.


Leave a reply

©2024 InterManager - Promoting Excellence In Ship Management

Log in with your credentials

Forgot your details?