1. US Treasury, State target LNG shipping firms among Russia sanctions. US officials Aug. 23 announced a slew of new sanctions to ratchet up pressure on Russia and entities aiding its war against Ukraine, including measures extending efforts to disrupt the Kremlin’s LNG trade.
The sanctions were announced a day before Ukraine’s Aug. 24 independence day.
https://cyprusshippingnews.com/2024/08/28/us-treasury-state-target-lng-shipping-firms-among-russia-sanctions/
https://cyprusshippingnews.com/2024/08/28/us-treasury-state-target-lng-shipping-firms-among-russia-sanctions/
2. Asia spot LNG price slips as demand peaks, prior rally bites. Vietnam’s LNG price cap puts gas-fired power target at risk
The spot price of liquefied natural gas (LNG) in Asia eased last week amid signs that seasonal demand may be peaking and the five-month rally is trimming purchases by price-sensitive buyers.
https://cyprusshippingnews.com/2024/08/28/asia-spot-lng-price-slips-as-demand-peaks-prior-rally-bites/
https://cyprusshippingnews.com/2024/08/28/asia-spot-lng-price-slips-as-demand-peaks-prior-rally-bites/
3. Shanghai ranks third in international shipping centers. Shanghai was rated third among international shipping centers, only after Singapore and London, according to the 2024 Xinhua-Baltic International Shipping Center Development Index published on Wednesday.
https://cyprusshippingnews.com/2024/08/28/shanghai-ranks-third-in-international-shipping-centers/
https://cyprusshippingnews.com/2024/08/28/shanghai-ranks-third-in-international-shipping-centers/
4. U.S. Senate Armed Services Committee Chairman meets Hanwha Ocean executives on MRO Projects. On August 26, Jack Reed, Chairman of the U.S. Senate Armed Services Committee, along with Philip S. Goldberg, U.S. Ambassador to South Korea, met with Hanwha Ocean’s key executives, including Vice Chairman Kwon Hyuk-woong, at the Yongsan U.S. military base. The meeting focused on various issues related to the operation of naval ship projects, marking a significant step in U.S.-Korea defense cooperation.
https://cyprusshippingnews.com/2024/08/28/u-s-senate-armed-services-committee-chairman-meets-hanwha-ocean-executives-on-mro-projects/
https://cyprusshippingnews.com/2024/08/28/u-s-senate-armed-services-committee-chairman-meets-hanwha-ocean-executives-on-mro-projects/
5. Abundance solar panel industries to establish 55 million solar panel pnt in KEZAD. KEZAD Group, the largest operator of integrated and purpose-built economic zones and UAE-based Abundance Solar Panels Industries have announced the signing of a 50-year land lease agreement for the establishment of a sophisticated solar panel plant in KEZAD Area A – Al Ma’mourah.
https://cyprusshippingnews.com/2024/08/28/abundance-solar-panel-industries-to-establish-55-million-solar-panel-pnt-in-kezad/
https://cyprusshippingnews.com/2024/08/28/abundance-solar-panel-industries-to-establish-55-million-solar-panel-pnt-in-kezad/
6. Apeejay Shipping adds its second vessel of the year. India’s Apeejay Shipping has emerged as the taker of a ship sold by China’s Rewood Ocean Shipping Co (ROSCO), tabling an undisclosed amount for the 2005-built ROSCO Ginkgo, a Japanese-built, 75,000 dwt bulker.  This marks Apeejay’s second purchase since May. Four months ago it added a three-year-old kamsarmax named ASL Uranus.
https://splash247.com/apeejay-shipping-adds-its-second-vessel-of-the-year/
https://splash247.com/apeejay-shipping-adds-its-second-vessel-of-the-year/
7. New wave of boxship orders elbows out tankers and dry bulk from top yards. June, July and August have seen near record levels of containerships contracted, principally in China. June was the second highest ever with August running this record close and plenty more contracts expected to be inked in the coming weeks.
https://splash247.com/new-wave-of-boxship-orders-elbows-out-tankers-and-dry-bulk-from-top-yards/
https://splash247.com/new-wave-of-boxship-orders-elbows-out-tankers-and-dry-bulk-from-top-yards/
8. Container Shipping’s Fleet Expansion Continues. The global container shipping industry is experiencing a significant surge in fleet expansion, according to recent data from BIMCO. Despite initial signs of a slowdown in late 2023, the appetite for new ships remains strong, with year-to-date contracting in 2024 already surpassing the full-year total for 2023.
https://gcaptain.com/container-shippings-fleet-expansion-continues/
https://gcaptain.com/container-shippings-fleet-expansion-continues/
9. Tanker SOUNION Appears to Be Leaking Oil in Red Sea, Pentagon Says. The Greek-flagged crude oil tanker Sounion that was recently attacked by Yemen’s Houthis is still on fire in the Red Sea and now appears to be leaking oil, a Pentagon spokesman said on Tuesday. The Sounion was targeted last week by multiple projectiles off Yemen’s port city of Hodeidah. The Houthis, who control Yemen’s most populous regions, said they attacked it in the Red Sea, as the Iran-aligned group has been attacking ships in solidarity with Palestinians in the war between Israel and Hamas in Gaza.
https://gcaptain.com/tanker-sounion-appears-to-be-leaking-oil-in-red-sea-pentagon-says/
https://gcaptain.com/tanker-sounion-appears-to-be-leaking-oil-in-red-sea-pentagon-says/
10. Port workers defer nationwide strike after successful talks with govt.Â
Unions representing port and dock workers on Tuesday deferred their nationwide strike after talks with the government assuaged their concerns on pay revision and allowances, which broke the ice and averted disruption to the country’s shipping.
https://www.shippingtribune.com/news/shipping/Port+workers+defer+nationwide+strike+after+successful+talks+with+govt
https://www.shippingtribune.com/news/shipping/Port+workers+defer+nationwide+strike+after+successful+talks+with+govt
