1. Russia’s ‘shadow fleet’: Bringing the threat to light. Following Russia’s unprovoked invasion of Ukraine, the European Union (EU), G7, and allied partners imposed extensive sanctions targeting Russia’s economy, in particular the oil sector, in an effort to curb the Kremlin’s revenues which finance its war effort. Key measures include an embargo on Russian seaborne oil imports and a price cap on oil and oil products that restricts profits while still allowing sales below a certain price.
https://cyprusshippingnews.com/2024/11/12/russias-shadow-fleet-bringing-the-threat-to-light/
https://cyprusshippingnews.com/2024/11/12/russias-shadow-fleet-bringing-the-threat-to-light/
2. Trump could harden Iran oil stance but struggle to stem flow to China, analysts say. Former President Donald Trump’s return to the White House could mean tougher enforcement of U.S. oil sanctions against Iran, potentially trimming global supplies, but his administration could struggle to get China, Iran’s top crude customer, to cooperate, analysts said.
https://cyprusshippingnews.com/2024/11/12/trump-could-harden-iran-oil-stance-but-struggle-to-stem-flow-to-china-analysts-say/
https://cyprusshippingnews.com/2024/11/12/trump-could-harden-iran-oil-stance-but-struggle-to-stem-flow-to-china-analysts-say/
3. Port environmental sustainability: Ballast water management. Ballast has been used to maintain stability and seaworthiness of cargo ships dating back to timber-hulled sailing ships and their use of solid ballast. Water as ballast was widely introduced in the use of metal-hulled steam powered ships, where water carried to generate steam could also be used as ballast to trim and maintain stability of the ship. Today’s modern large cargo ships can have a ballast capacity in excess of 5,000m3 or 5,000 tons of water.
https://cyprusshippingnews.com/2024/11/12/port-environmental-sustainability-ballast-water-management/
https://cyprusshippingnews.com/2024/11/12/port-environmental-sustainability-ballast-water-management/
4. Port Houston earns 2024 Great Place To Work Certification™. Port Houston is proud to be Certified™ by Great Place To Work®. The prestigious award is based entirely on what current employees say about their experience working at Port Houston. This year, 75% of employees said it’s a great place to work – 18% higher than the average U.S. company.
https://cyprusshippingnews.com/2024/11/12/port-houston-earns-2024-great-place-to-work-certification/
https://cyprusshippingnews.com/2024/11/12/port-houston-earns-2024-great-place-to-work-certification/
5. Montreal Port Locks Out Dockworkers, Adding To Canada’s Supply-Chain Woes. Longshoring activity at the Port of Montreal is set to grind to a halt as an employers’ group locks out 1,200 union members. The escalation of an ongoing labor dispute will disrupt Canada’s second-largest port, which typically handles nearly C$400 million ($288 million) of goods a day. It has been operating far below its container-handling capacity since dockworkers at two terminals walked off the job on Oct. 31. The union also held a full one-day strike in late October.
https://gcaptain.com/montreal-port-locks-out-dockworkers-adding-to-canadas-supply-chain-woes/
https://gcaptain.com/montreal-port-locks-out-dockworkers-adding-to-canadas-supply-chain-woes/
6. Fire breaks Out On Japanese Navy Ship. Fire broke out on a Japanese warship sailing near the western part of the country, causing one crew member to be hospitalised due to smoke inhalation, while another was missing, Japan’s navy said on Sunday.
https://gcaptain.com/fire-breaks-out-on-japanese-navy-ship/
https://gcaptain.com/fire-breaks-out-on-japanese-navy-ship/
7. Al Seer Marine and Damen JV targets commercial shipbuilding. A joint venture between Abu Dhabi’s Al Seer Marine and Damen International is expanding its operations into the commercial shipbuilding market.The ADX-listed subsidiary of the International Holding Company (IHC) and the company, which is part of the well-known Dutch shipbuilder and the Damen family, said they expect to build over 26 vessels within the UAE over the course of next year to serve both domestic and international clients.
https://splash247.com/al-seer-marine-and-damen-jv-targets-commercial-shipbuilding/
https://splash247.com/al-seer-marine-and-damen-jv-targets-commercial-shipbuilding/
8. DP World buys Australia’s Silk Logistics. Dubai-based ports and logistics player DP World has reached an agreement to acquire Australian port-to-door logistics services provider Silk Logistics.
The transaction, subject to shareholder approval of Silk Logistics and standard closing conditions, values the company at about A$174.5m ($115.6m) or A$2.14 per share.
https://splash247.com/dp-world-buys-australias-silk-logistics/
https://splash247.com/dp-world-buys-australias-silk-logistics/
9. Diana Shipping charters out ultramax to Stone Shipping. New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Stone Shipping for one of its ultramax vessels.
Stone Shipping hired the 2018-built, 60,362 dwt bulker DSI Pyxis. The gross charter rate is $13,100 per day, minus a 5% commission paid to third parties, for a period until a minimum of February 20, 2026, up to a maximum of April 20, 2026.
https://splash247.com/diana-shipping-charters-out-ultramax-to-stone-shipping-2/
https://splash247.com/diana-shipping-charters-out-ultramax-to-stone-shipping-2/
10. Wallenius Wilhelmsen wins $580m transport deal. Norwegian car carrier operator Wallenius Wilhelmsen has signed a multi-year shipping contract with an undisclosed automotive manufacturer.
The new contract has a duration of three years and three months and will begin on January 1, 2025.
The deal has an estimated value of $580m in total over the contract period. According to the Norwegian firm, the rates are in line with current market levels.
https://splash247.com/wallenius-wilhelmsen-wins-580m-transport-deal/
https://splash247.com/wallenius-wilhelmsen-wins-580m-transport-deal/
