1. Zero carbon ammonia for shipping faces cost, safety challenges. At one of the world’s biggest bulk export ports in Western Australia, shippers safely completed the first transfer of ammonia from one vessel to another last month, a key test for its adoption as a marine fuel in the push for cleaner energy.
https://cyprusshippingnews.com/2024/10/31/zero-carbon-ammonia-for-shipping-faces-cost-safety-challenges/
https://cyprusshippingnews.com/2024/10/31/zero-carbon-ammonia-for-shipping-faces-cost-safety-challenges/
2. SK Shipping’s full sale on the horizon as Hahn & Company seeks buyers. Hahn & Company is considering the full sale of SK Shipping, a transaction valued at approximately 4 trillion won (approximately $3.07 billion). The private equity firm has appointed Morgan Stanley to assist in the sale of SK Shipping’s management rights, marking a crucial step in the potential divestment of the shipping giant.
https://cyprusshippingnews.com/2024/10/31/sk-shippings-full-sale-on-the-horizon-as-hahn-company-seeks-buyers-2/
https://cyprusshippingnews.com/2024/10/31/sk-shippings-full-sale-on-the-horizon-as-hahn-company-seeks-buyers-2/
3. Emtelle opens new 50M global innovation centre and manufacturing facility in KEZAD, Abu Dhabi. Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones and Emtelle, a leading global manufacturer of fibre-optic and microduct solutions have announced the opening of Emtelle’s new $50M global innovation and manufacturing facility in KEZAD Area A .
https://cyprusshippingnews.com/2024/10/31/emtelle-opens-new-50m-global-innovation-centre-and-manufacturing-facility-in-kezad-abu-dhabi/
https://cyprusshippingnews.com/2024/10/31/emtelle-opens-new-50m-global-innovation-centre-and-manufacturing-facility-in-kezad-abu-dhabi/
4. Maersk signs long-term methanol sourcing deal for the ocean fleet. A.P. Moller – Maersk has entered into a long-term bio-methanol offtake agreement with LONGi Green Energy Technology . The agreement will contribute to lowering GHG emissions from Maersk’s growing fleet of dual-fuel methanol container vessels.
https://cyprusshippingnews.com/2024/10/31/maersk-signs-long-term-methanol-sourcing-deal-for-the-ocean-fleet/
https://cyprusshippingnews.com/2024/10/31/maersk-signs-long-term-methanol-sourcing-deal-for-the-ocean-fleet/
5. Belgium organises first MASS North Sea MoU symposium. The first MASS North Sea MoU Symposium was kicked off by Belgium. The event brought together national administrations, class societies, technology providers and the broader maritime industry from Belgium, the Netherlands, Norway, Denmark and the United Kingdom to discuss Uncrewed Surface Vessel
https://cyprusshippingnews.com/2024/10/31/belgium-organises-first-mass-north-sea-mou-symposium/
https://cyprusshippingnews.com/2024/10/31/belgium-organises-first-mass-north-sea-mou-symposium/
6. Teekay Corp’s tankers unit to take over management business. Teekay Corp is transferring its Australian management operations and all other management services companies to its tankers business.
The transaction, likely to close by the end of this year, will see Teekay tankers take over shipmanagement companies in Australia for $65m in cash and the remaining management units at their net working capital value.
https://splash247.com/teekay-corps-tankers-unit-to-take-over-management-business/
https://splash247.com/teekay-corps-tankers-unit-to-take-over-management-business/
7. LNG spot rates nosedive below breakeven. The LNG shipping markets have gone eerily quiet with many ships operating at below breakeven levels on the spot trades with time charter prices also seriously eroding.
Describing the sector as “under significant pressure”, analysts at Jefferies note two-stroke LNG carrier spot rates are assessed at $31,000 a day, while TFDE LNG carrier rates are assessed at $18,000 a day.
https://splash247.com/lng-spot-rates-nosedive-below-breakeven/
https://splash247.com/lng-spot-rates-nosedive-below-breakeven/
8. Sri Lanka vows to reopen X-Press Pearl investigations. Sri Lanka will reopen investigations into the X-Press Pearl disaster and seek multi-billion dollar pay-outs from insurers as clean-up operations from the accident continue three-and-a-half years after the event that led to the island’s worst environmental catastrophe.
https://splash247.com/sri-lanka-vows-to-reopen-x-press-pearl-investigations/
https://splash247.com/sri-lanka-vows-to-reopen-x-press-pearl-investigations/
9. Maritime CEO Forum Monaco: How global dry bulk trading patterns are evolving. As is traditional at all Maritime CEO Forums the real fireworks in terms of debate from last week’s gathering at the Monaco Yacht Club were left for the graveyard shift at the end of proceedings, namely the dry bulk session moderated with great energy as ever by Tim Huxley, the CEO of Mandarin Shipping, who presided over a panel giving a masterclass in supply and demand economics into shipping’s largest segment.
https://splash247.com/maritime-ceo-forum-monaco-how-global-dry-bulk-trading-patterns-are-evolving/
https://splash247.com/maritime-ceo-forum-monaco-how-global-dry-bulk-trading-patterns-are-evolving/
10. Sanctioned Russian LNG Tankers Frozen Out as West Tightens Grip. Tankers carrying sanctioned liquefied natural gas from Russia are gathering off the country’s far eastern coast, a sign of the difficulties in finding buyers in the midst of ever-tightening western restrictions.
https://gcaptain.com/sanctioned-russian-lng-tankers-frozen-out-as-west-tightens-grip/
https://gcaptain.com/sanctioned-russian-lng-tankers-frozen-out-as-west-tightens-grip/
