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Oil for oxygen: Covid-hit India welcomes Saudi medical aid, boosts oil imports

Indian oil minister Dharmendra Pradhan on Friday thanked Saudi Arabia and other Middle Eastern oil producers for supplying liquid medical oxygen (LMO) to help the country in its battle with the COVID-19 crisis. In a series of tweets, Pradhan also welcomed offers by Saudi Arabia, UAE and Qatar to supply containers for the next six months and for an assurance of a steady commercial supply of LMO to India. “Deeply appreciate the initial gesture of goodwill with complimentary LMO supplies particularly from UAE, Kuwait, Bahrain and Saudi Arabia,” Pradhan said. ...

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MARKET SNAPSHOT FOR 08/05/2021

NASDAQ-Adv: 2,870 Dec: 1,348 NYSE-Adv: 3,171 Dec: 970(Source: Nasdaq)

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ClassNK Innovation Endorsement at a glance (English)

ClassNK Innovation Endorsement at a glance (English)

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New Neptune Declaration Crew Change Indicator takes the temperature of the crew change crisis

Data from top 10 ship managers on their seafarers is the basis of an indicator which provides up-to-date information on the impact of the crew change crisis and will allow for the monitoring of developments over time. The Neptune Declaration Crew Change Indicator is part of the ongoing efforts that a multi-stakeholder taskforce is undertaking to resolve the situation. Well into the second year of the coronavirus pandemic, the crew change crisis remains unresolved. Despite the concerted efforts by international organizations and companies, seafarers are still unable to disembark from ...

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Cargo removed from stricken tanker off China, preparing for voyage to repair yard

Cargo onboard a tanker that leaked oil off China has been removed and preparations are underway so the vessel can sail to a Chinese repair yard, the ship’s manager said. The A Symphony was anchored roughly 40 nautical miles (74 km) off the coast of Qingdao when it collided with the bulk carrier Sea Justice in dense fog on April 27. The collision ruptured A Symphony’s cargo and ballast tanks, causing it to leak roughly 400 tonnes of its bitumen mix cargo. Work has taken place in recent days to ...

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The shipping company Philippine Span Asia Carrier Corp. goes digital by implementing SERTICA Fleet Management

Implementing SERTICA will digitalize and streamline internal processes and increase the level of transparency across all departments at Philippine Span Asia Carrier Corp (PSACC). PSACC has an ambitious growth strategy and to help achieve its targets, the shipping company is implementing SERTICA Fleet Management Software onboard 19 vessels. Jordan Go, CEO at PSACC tells, “Today, our procurement flows are 100% paper based and we wish to eliminate manual processes to create more efficient and cost-effective workflows. In SERTICA we can digitalize the entire process from when the vessel sends a ...

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NYK Concludes Bareboat Charter Contract with Northern Offshore Group for Crew Transfer Vessel in Offshore Wind Industry

NYK and Northern Offshore Services AS (NOS), a subsidiary of the Sweden-based Northern Offshore Group AB (NOG), have concluded a bareboat charter contract* for a crew transfer vessel (CTV)** to service offshore wind farms. The CTV, which is named “Energizer,” is owned by NYK and will be chartered to NOS through a 10-year bareboat charter contract* to transfer crews to offshore wind power stations, mainly in Europe, under the operation of NOS. NYK has additionally agreed to dispatch its engineers to NOS to participate in operations and ship management in ...

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CargoGulf launches new North Asia Gulf Express service

Global NVOCC (Non-Vessel Operating Common Carrier) CargoGulf is launching a new container liner service between North Asia and the Arabian Gulf. This new North Asia Gulf Express (NAGE) service complements its Arabian Gulf to Asia (AGA) service serving trade to/from Southeast Asia introduced last year. Starting from 16 May 2021, the service will offer fixed weekly sailings between North Asia and the Arabian Gulf, linking the ports of Shanghai, Ningbo, Xiamen and Da Chan Bay (River Pearl Delta) directly with markets in the Arabian Gulf. China import bookings will be ...

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COVID-19 vaccination of foreign seafarers in the United States

On 23 April 2021, US federal health regulators lifted a recommended pause on the use of the Johnson & Johnson or Janssen (J&J) single-shot Covid-19 vaccine. The decision allows states in the US to resume administering the J&J… Man with blue safety helmet On 23 April 2021, US federal health regulators lifted a recommended pause on the use of the Johnson & Johnson or Janssen (J&J) single-shot Covid-19 vaccine. The decision allows states in the US to resume administering the J&J vaccine. The J&J vaccine along with the Pfizer and ...

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Samsung Heavy expands net loss in Q1 by 308 billion won

Samsung Heavy Industries Co.’s net loss expanded to 535.9 billion won in the first quarter from a net loss of 227 billion won a year ago due to the COVID-19 pandemic and a surge in prices of steel plates. The shipbuilder’s operating loss for the quarter was at 506.8 billion won, narrowing from an operating loss of 47.8 billion won a year earlier. It was attributed to the increased cost due to the rise in steel plate prices, allowances, and the evaluation losses from its five drillships. Sales dropped 13.8 ...

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Port of New York sets new monthly record for container volume in March

The Port of New York and New Jersey posted its highest-ever monthly container volume in March as imports surged while also drawing cargoes away from congested US West Coast ports, the Port Authority said May 5. Total throughput was 789,776 twenty-foot equivalent units in March, beating the previous monthly record from October 2020 by 34,339 TEUs. The March total was a 40.8% increase from the same month last year when the coronavirus outbreak largely brought global trade to a halt, underlining the staggering reversal in demand for space on containerships ...

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Indian refiners curtail palm oil imports as lockdowns dent demand

Indian edible oil refiners are curtailing palm oil imports for May and June as most states have imposed curbs on hotels and restaurants to arrest rising coronavirus infections, denting institutional demand, industry officials said. Lower imports by India, the world’s biggest buyer of the edible oil, could limit a rally in benchmark Malaysian palm oil futures, which hit their highest level since 2008 on Thursday. “Palm oil demand from hotels, restaurants and other institutional buyers has been falling rapidly due to lockdowns,” said Govindbhai Patel, chief of trading firm G.G. ...

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Brazil 2021 corn exports seen falling to 32 mln T -Anec

Brazil’s cereal exporter association Anec on Wednesday maintained the country would ship some 32 million tonnes of corn this year, 1.6 million tonnes less than in 2020, despite a drought that is affecting yields in certain producing areas. Sergio Mendes, Anec’s director general, said Brazil’s corn export prospects remain good thanks to the relatively good conditions of corn fields in Mato Grosso, the state’s superior logistics capabilities, and a favorable exchange rate. Mendes said that his estimates in the beginning of the corn season already indicated potentially lower shipments compared ...

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India’s 2021-22 wheat exports seen 26% lower on year at 2 mil mt: USDA attache

The US Department of Agriculture’s India attaché sees the country’s wheat exports reaching 2 million mt in the 2021-22 trade year, 26% lower on the year, as output is also forecast to decline. The trade year begins in July for all countries. India’s wheat production will be 105 million mt in the 2021-22 marketing year, the New Delhi attache said, down from 107.86 million mt a year earlier, according to the report published on the USDA website on May 4. India’s wheat marketing year runs from April through March. “[F]ield ...

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Palm oil supply in Malaysia, Indonesia to rise in April: sources

Palm oil production and ending stocks at major producers Malaysia and Indonesia are set to rise in April, buoyed by a combination of favorable weather, easing labor shortages and increased fertilizer use, sources told S&P Global Platts. In Malaysia, April production is expected to increase by 8.92% month on month to 1.55 million mt, sources said. Meanwhile, Malaysian palm oil exports in April are set to increase 8.71% month on month to 1.28 million mt, according to Marcello Cultrera, institutional sales manager at Philip Futures. Anil Kumar Bagani, research head ...

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