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IMO Secretary-General Kitack Lim has welcomed the departure from Odesa of the first commercial ship to leave the port under the United Nations supported Black Sea Grain Initiative to establish a humanitarian maritime corridor for the safe passage of ships from Ukraine. The M/V Razoni is the first commercial ship to leave Ukraine’s port of Odesa since 26 February 2022. The ship is bound for the port of Tripoli, Lebanon, carrying a cargo of 26,527 tonnes of corn. “I am pleased to see the first departure. The immense work by ...

Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $68 million, $0.10 per diluted share, for the three months ended June 30, 2022. Contract drilling revenues for the three months ended June 30, 2022, increased sequentially by $106 million to $692 million, primarily due to three rigs that returned to work after being idle in the prior quarter, increased dayrate for three rigs, higher revenue efficiency and one additional calendar day in the second quarter, partially offset by reduced activity for two rigs that were ...

“The new 2,000 m2 warehouse for general cargo is strategically located in the port, which makes the ‘unloading’ of the container and its return to the shipowner more practical and faster,” explains Roberto Pandolfo, Customer Experience Business Director at Porto Itapoá. Reduced or zero demurrage “This is particularly important as free-time – the length of time, a container can be stored free of charge at the port – has reduced considerably since the beginning of the pandemic to help reduce congestion. It can also help customers reduce or completely remove ...

The solar plant will occupy a surface area of 6,420 m2, with an installed power of 1,461.6 KWp, and a base budget of 3,018,594.19 €, including maintenance for four years Companies can submit their bids until 5 September at 13.00 hours This is the first of the solar plants to be installed at the Port of Valencia. The second will be in the automobile silo area of Terminal Valencia Europa and will involve an investment of 16 million euros In addition, the Port Authority of Valencia has already put out ...

Port of Newcastle has taken a critical step forward in its important diversification agenda to unlock trade opportunities within regional and rural NSW, support local industry and create jobs, with the arrival of two Liebherr mobile harbour cranes. The German-built LHM 550 cranes sailed into Newcastle Harbour this morning onboard general cargo ship UHL Fighter, after leaving the Port of Rostock in late June. Port of Newcastle CEO Craig Carmody said the $28.4-million investment marks a significantly increase in container handling capabilities at the Port’s versatile Mayfield 4 berth. “Industry ...

Tunisia’s state grains agency has issued an international tender to purchase an estimated 100,000 tonnes of soft wheat and 50,000 tonnes of animal feed barley, European traders said on Tuesday. It is believed the deadline for submission of price offers is Aug. 3. The grain can be sourced from optional origins. However, the Black Sea region is not listed as a possible origin because of continued uncertainty over exports from Ukraine, traders said. The wheat is sought in four 25,000 tonne consignments for shipment between Aug. 25 and Oct. 5. ...

Malaysian palm oil futures on Tuesday slumped by more than 5% for a second consecutive session, as Indonesia lowered its export tax reference price and raised its overseas volumes quota. Palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange ended down 219 ringgit, or 5.39%, at 3,841 ringgit ($862.56) a tonne. Indonesia has lowered its crude palm oil reference price to $872.27 per tonne, effective Aug. 1-15, senior economic ministry official Musdhalifah Machmud said. This would reduce its export duty, making it attractive compared to rival Malaysian ...

Condition ratings for the U.S. soybean crop unexpectedly rose in the past week after some weekend rain in places such as Illinois, North Dakota, South Dakota and Minnesota, the U.S. Agriculture Department said on Monday. USDA pegged the soybean crop as 60% good to excellent as of July 31, up 1 percentage point from a week earlier and in line with ratings from a year earlier. A better-than-expected soy crop from the United States, the world’s No. 2 exporter after Brazil, could help replenish supplies of the oilseed at a ...

The OPEC+ Joint Technical Committee (JTC) trimmed its forecast for a surplus in the oil market this year by 200,000 barrels per day (bpd) to 800,000 bpd, two OPEC+ delegates told Reuters. The JTC is meeting on Tuesday ahead of a ministerial meeting of the Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, on Wednesday. Source: Reuters (Reporting by Ahmad Ghaddar and Alex Lawler; Editing by Kirsten Donovan)

Chinese leaders told the government that this year’s economic growth of about 5.5% is a guidance and not a hard target in a meeting last week, Bloomberg News reported on Tuesday citing people familiar with the matter. At the meeting, the top leaders told officials from the ministerial and provincial-level that the target will not be used to evaluate their performance, neither will there be any penalty for failing to meet the target. The leaders acknowledged that the chances of achieving the set goal are thin, the report added. (https://bloom.bg/3QbOpLH) ...

Caution urged in adverse weather conditions 02 Aug 2022, Abu Dhabi, United Arab Emirates Abu Dhabi Maritime urges users of waterways, sailors and marine operators to adhere to instructions, guidance and directives issued by the competent authorities, especially in cases of weather fluctuations. Read more » Termination of Enterprise Agreement & industrial action 02 Aug 2022, Australia Tug operator Svitzer Australia has applied to terminate the Enterprise Agreement and all three unions involved have given notice of new protected industrial action. Read more » Revised fuel surcharge 02 Aug 2022, ...

A very significant agreement took place on the 22nd of July as Ukraine and Russia agreed to resume grain exports

There is little Russia can do to help with urgent repairs required to malfunctioning Nord Stream 1 gas pipeline equipment, Kremlin spokesman Dmitry Peskov said on Monday. Russia cut gas supplies via Nord Stream 1, its main gas pipeline to Europe, to just 20% of capacity last week, saying that a turbine sent to Canada for maintenance had not yet come back and that other equipment also needed repair. This signalled a deepening of a row in which Moscow has cited turbine problems as its reason for cutting gas supply ...

The Baltic Exchange’s main sea freight index extended losses on Monday to hit its lowest since February, weighed down by slowing demand for iron ore and coal shipments from China. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, shed 23 points, or 1.2% to 1,872 points. The index touched its lowest level since Feb. 9. The capesize index lost 19 points, or 0.9%, at 2,062 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were ...

China’s recent move to exert more control over the iron ore market pricing, could result in more control over the seaborne market as well. In its latest weekly report, shipbroker Allied Shipbroking said that “the difficulties on the Capesize front look to still be on the forefront, despite some improvement noted early last week as well as in the week prior. We have already seen some retreat in the vital support brought about by the improved coal trade this year, although this is likely to prove only temporary given the ...