1. The shipping industry’s long voyage toward supply chain transparency. A combination of tightening regulation and the trend towards ESG reporting are creating market pressure for supply chain due diligence and transparency across many sectors. The maritime industry is no different.
https://splash247.com/the-shipping-industrys-long-voyage-towards-supply-chain-transparency/
https://splash247.com/the-shipping-industrys-long-voyage-towards-supply-chain-transparency/
2. COSCO strikes mammoth order for 42 bulkers. COSCO Shipping’s ordering spree has continued with a massive newbuilding programme in the dry bulk segment.The Chinese state-owned shipping giant has commissioned 42 bulker newbuilds across its affiliated COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard in two separate deals worth more than $2bn in aggregate ($1.8bn excluding tax).
https://splash247.com/cosco-strikes-mammoth-order-for-42-bulkers/
https://splash247.com/cosco-strikes-mammoth-order-for-42-bulkers/
3. Purus in for more midsize gas carriers. UK-based owner Purus Marine is expanding its fleet of medium-sized gas carriers to six with the order of two additional 45,000 cu m vessels at Hyundai Mipo Dockyard.
In May last year, Purus booked four newbuilds at the South Korean yard for delivery in 2025 and 2026 and secured options for two more ships, which have now been called.
https://splash247.com/purus-in-for-more-midsize-gas-carriers/
https://splash247.com/purus-in-for-more-midsize-gas-carriers/
4. Adani takes over Astro Offshore. India’s Adani Ports and Special Economic Zone (APSEZ) has acquired a majority stake in Dubai-based OSV owner Astro Offshore.
The deal worth $185m in cash will see APSEZ control 80% of Astro and a fleet of 26 offshore support vessels, comprising anchor handling tugs, flat top barges, multipurpose support units and workboats.
https://splash247.com/adani-takes-over-astro-offshore/
https://splash247.com/adani-takes-over-astro-offshore/
5. Container Carrier Profits Soar On Record Volumes, Higher Rates. The global container shipping industry saw profits surge to more than $10 billion in the second quarter on record volumes and rising freight rates after Red Sea diversions, according to a new analysis.
Net income for the world’s major container carriers, including Denmark’s A.P. Moller-Maersk A/S and China’s Cosco Shipping Holdings Co., almost doubled from the first three months of the year and topped the $8.88 billion haul from the second quarter of 2023, according to a report released Saturday by industry veteran John McCown.
https://gcaptain.com/container-carrier-profits-soar-on-record-volumes-higher-rates/
https://gcaptain.com/container-carrier-profits-soar-on-record-volumes-higher-rates/
6. US Condemns ‘Escalatory’ Actions By China Against Philippines In South China Sea. The United States on Saturday condemned “dangerous and escalatory” actions by China against what it called lawful Philippine maritime operations in the South China Sea, the State Department said in a statement.
“A China Coast Guard vessel deliberately collided three times with a Philippine Coast Guard vessel exercising its freedom of navigation in the Philippines’ exclusive economic zone (EEZ), causing damage to the vessel and jeopardizing the safety of the crew onboard,” spokesman Matthew Miller said.
https://gcaptain.com/us-condemns-escalatory-actions-by-china-against-philippines-in-south-china-sea/
https://gcaptain.com/us-condemns-escalatory-actions-by-china-against-philippines-in-south-china-sea/
7. Red Sea oil spill fears recede after Houthis allow salvage of Greek tanker. Fears of a major oil spill and fresh shipping disruptions in the Red Sea receded Aug. 29 after Iran-backed Houthi militants in Yemen agreed to allow rescue ships to access the Greek oil tanker still burning in the key trade chokepoint.
https://cyprusshippingnews.com/2024/09/02/red-sea-oil-spill-fears-recede-after-houthis-allow-salvage-of-greek-tanker/
https://cyprusshippingnews.com/2024/09/02/red-sea-oil-spill-fears-recede-after-houthis-allow-salvage-of-greek-tanker/
8. Singapore’s low sulfur supply squeeze boosts LSFO bunkering premiums to six-month highs. Tightening supply-demand dynamics in the world’s largest bunkering hub of Singapore have supported premiums of the downstream low sulfur fuel oil grade to climb to six-month highs in August, owing to thinning stockpiles due to delayed cargo arrivals coupled with issues in blending the fuel oil feedstock.
https://cyprusshippingnews.com/2024/09/02/singapores-low-sulfur-supply-squeeze-boosts-lsfo-bunkering-premiums-to-six-month-highs/
https://cyprusshippingnews.com/2024/09/02/singapores-low-sulfur-supply-squeeze-boosts-lsfo-bunkering-premiums-to-six-month-highs/
9. Skuld fuel EU Maritime Regulation the next legislative piece to make the EU climate neutral. The Fuel EU Maritime Regulation[1] (FuelEU Maritime) is another instrument in the ‘Fit for 55′[2] toolbox of the EU to achieve its goal of climate neutrality by 2050 with an intermediate goal of reaching a 55% reduction of greenhouse gas emissions by 2030[3]. ‘Greenhouse gas emissions’ or ‘GHG emissions’ means the release of carbon dioxide (CO2), methane (CH4) and nitrous oxide (N2O) into the atmosphere[4]. FuelEU Maritime is a complementary regulatory initiative besides the EU Emission Trading System (ETS) already in force, aiming to achieve decarbonisation and energy transition in Europe.
https://cyprusshippingnews.com/2024/09/02/skuld-fuel-eu-maritime-regulation-the-next-legislative-piece-to-make-the-eu-climate-neutral/
https://cyprusshippingnews.com/2024/09/02/skuld-fuel-eu-maritime-regulation-the-next-legislative-piece-to-make-the-eu-climate-neutral/
10. Holland Shipyards Group secures contract for innovative floating hotel, Flotilla. Holland Shipyards Group has been awarded an inspiring project by Good Hotels to construct their latest floating hotel, Flotilla. This unique project perfectly embodies the innovative spirit and sustainable focus of both our organizations.
https://cyprusshippingnews.com/2024/09/02/holland-shipyards-group-secures-contract-for-innovative-floating-hotel-flotilla/
https://cyprusshippingnews.com/2024/09/02/holland-shipyards-group-secures-contract-for-innovative-floating-hotel-flotilla/
