InterManager Daily News 09.07.2024.

1. Columbia Group signs MOU with University of Cyprus to enhance student opportunities. Columbia Group  has signed a Memorandum of Understanding  with the University of Cyprus  to launch initiatives aimed at expanding educational, research, development and business opportunities for students.
2. Golf and Maritime for a good cause at the 10th Greek Maritime Golf Event. Golf and maritime have been “sailing” together for the past 10 years at the top golf tournament, Greek Maritime Golf Event, which will take place from September 5-8, 2024, at Costa Navarino in Messinia. This significant event, established as an institution in the golf world, supports society and its vulnerable members through its annual actions.
3. Russian Government’s oil revenue was up almost 50% in June. Russia’s government revenue from the oil industry was almost 50% higher in June compared with a year earlier as the nation’s producers adapted to international sanctions and obtained higher prices for their crude exports, according to Bloomberg.
4. MGCs retain their status as ‘true workhorses’ due to high yields and increased orders. Following the surge in VLAC ordering during 2023-24, the trend seems to be shifting to the relatively small MGCs, as 20 orders were placed in 1H24. With the rising interest of shipowners, we believe 2024 will be a historic high for MGC orders. As per Drewry’s financial analysis, MGCs offer a high ROI compared to VLGCs in the current market situation, considering the same utilisation levels and growth rates.
5. Japanese refiners consider cutting term crude purchases for spot as yen tumbles. Some Japanese refiners are considering reducing their term crude purchase commitments and adopting a more flexible spot buying strategy as a weakening yen diminishes their purchasing power, industry sources said.
6. Fredriksen’s SFL bags $240m in boxship charters from Maersk. John Fredriksen’s SFL Corporation has agreed new five-year time charters for four 8,700 teu container vessels.
The company said in a statement that the new contracts would add approximately $240m to the company’s fixed-rate charter backlog.
7. Fratelli Cosulich orders up to four methanol-ready bunker vessels. Italian owner Fratelli Cosulich has contracted up to four methanol-ready chemical bunkering tankers at Taizhou Maple Leaf Shipbuilding in China.The deal covers two firm 7,999 dwt IMO type 2 bunker vessels, with options for two additional units. The ships have been design to carry a variety of cargoes, including fueloil, biofuels, and methanol.
8. SFL Secures New 5-Year Charters for Four Containerships. SFL Corporation Ltd. (NYSE: SFL) announced today the agreement of new 5-year time charters for four 8,700 TEU container vessels, adding approximately $240 million to the company’s fixed rate charter backlog.
9. Texas Energy Industry Braces for Beryl as Hurricane Makes Landfall. The Texas energy industry braced for Hurricane Beryl’s impact on Monday, with threats from the powerful storm forcing the closure of key oil and gas shipping ports, slowing refining and prompting the evacuation of some production sites.
10. Sri Lanka to lift ban on foreign research ships in 2025 amid rising Indian Ocean tensions involving China, India. The recent engagements of Chinese ‘research’ vessels in the Indian Ocean region give rise to the possibility of China using data in any adversarial military situation vis-á-vis India and/or other nations in the immediate Indian Ocean neighbourhood, including the US with its military base in Diego Garcia.


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