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Chinese Lunar Holiday Brings More Lull in Ship Recycling Market

Activity in the ship recycling market has retreated even further during the past week, as the New Year celebrations in China, curbed demand. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “a quiet week has been experienced due mainly to the Lunar New Year holidays that have taken place, but with dry and wet freight markets earning more positive plaudits from analysts, the supply side for ship recyclers looks set to continue to frustrate”. “Whilst there remains much confusion surrounding the actual sale of the 10 Wan ...

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Olympic Shipping and Management SA is GCMD’s first Greek ship owner / manager centre-level partner

The Global Centre for Maritime Decarbonisation (GCMD) and Olympic Shipping and Management SA (OSM) have signed an Impact Partnership Agreement, committing to a five-year collaboration to accelerate shipping’s decarbonisation across geographies. Onassis Foundation-controlled Greek owner OSM is the first Greek ship owner and manager to come onboard GCMD as a centre-level partner. OSM’s current fleet comprises 18 crude oil tankers. As an Impact Partner, OSM will provide a cash contribution towards pooled resources for GCMD’s projects, as well as in-kind contributions in terms of technical expertise and data and access ...

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PPA SA: Main transit hub for car transportations from China to Europe, North Africa and Near East, in new special containers. The first vehicles already arrived at the port of Piraeus

Piraeus Port Authority S.A. had jointly launched a new car shipment route and service based on the advantage of port of Piraeus and innovation in carrying mode by multipurpose vessel with COSCO SHIPPING SPECIALIZED CARRIERS CO., LTD,targeted to provide high quality service car logistics in EMEA area. The new service concerns the transportation of vehicles in special containers, with a capacity of 3 vehicles, called Flat Rack, equipped with built-in ramps for easier transportation and placement of the vehicles. These platforms have been certified and can be stacked to a ...

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Diana Shipping Inc. Announces Delivery Of The Ultramax Dry Bulk Vessel m/v DSI Aquarius And Her Entry Into Time Charter Contract With Engelhart CTP

Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v DSI Aquarius (formerly “STH Kure”), a 2016 built Ultramax dry bulk vessel of 60,309 dwt. The vessel is one of nine modern Ultramax dry bulk vessels that the Company entered into an agreement to purchase in August 2022. The Company also announced that, through the same wholly-owned subsidiary, it entered into a time charter contract with Engelhart ...

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China’s Iron Ore Imports Market Share Reached 71.3% in 2022

China’s iron ore imports retreated by an additional 1% during 2022. In its latest weekly report, shipbroker Banchero Costa said that “2022 was a rather negative year for global iron ore trade, primarily due to weaker demand worldwide and supply issues in Brazil. In January-December 2022, global iron ore loadings declined by -2.3% y-o-y to 1,519.4 mln tonnes, excluding cabotage, from 1,554.4 mln t in 2021, according to vessels tracking data from Refinitiv. Volumes were almost at par with the 1,525.6 mln tonnes shipped in 2019, but below the 1,557.2 ...

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Hellas on the Forefront of Quality Flags: ICS publishes annual Shipping Industry Flag State Performance Table

The annual Shipping Industry Flag State Performance Table, published today from the International Chamber of Shipping (ICS), highlights a 25% increase in flag states reporting on seafarer labour standards compared to last year. Each year flag states must report on labour standards as part of their ILO audit commitments. Some of the labour standards specific to seafarers include repatriation of seafarers, accommodation provision, health protection and medical care. This year 67.6% of flag states reported on their ILO audit commitments, an increase of 25% on the previous year where only ...

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Hellenic Decarbonization Committee: A Practical Approach to Decarbonization

The third meeting of the Hellenic Decarbonization Committee (HDC) was held at the end of the year. The committee was set up to give a vital discussion forum to shipowners and other stakeholders on the way forward to meet decarbonization targets. From the start of 2023 each ship will require an approved Ship Energy Efficiency Management Plan (SEEMP) on board and the Carbon Intensity Indicator (CII) regulation will come into force. The impact of both were key focusses for the attendees. Shipping will remain the core means of transport for ...

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Methanol: A Strong Candidate for Green Marine Fuel of the Future?

In its latest weekly report, shipbroker Gibson said that “the past couple of years have marked an increase in orders of methanol-fueled vessels, particularly in the container segment. AP Moller Maersk is a clear pioneer and a front runner, having ordered 19 container vessels capable of running on methanol, whilst over 30 vessels have been ordered by other prominent container lines. Although the focus has been on box ships, the tanker industry is certainly not a newcomer. There are 24 MR sized tankers (including chemicals) currently in operation, with most ...

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Fafalios: “If Only We Knew Which Fuel, We Will Be Using Over The Next 20-30 Years”

The GSCC welcomes the New Year with its traditional Vassilopitta reception. Following is the speech of Mr. Haralambos Fafalios, Chairman of the Greek Shipping Cooperation Committee “Dear all, It is three years since we were together in London celebrating our New Year Vassilopitta cutting. It seems a very long time with the word’s pandemic, war and inflation suddenly entering our daily vocabulary. Since last year Ukraine has become a war zone and the effects of this conflict have been more far reaching than we would have ever imagined. All of ...

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“Shipping Digest”: Ships Over 25 Year Old Banned From Indian Waters, Two Tier Market in the Tanker Segment

Shipping is always full of developments and this past week is no different. In its latest weekly report, shipbroker Xclusiv said that “the beginning of 2023 has seen the wet market wobble as the BCTI has lost around 66% within the 20 first days of January and BDTI has also fallen about 25% in the same period. Lots of voices of concern are rising about the wet market, and the tanker S&P market, but panic is not the best consultant in economy and in life in general”. According to the ...

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‘Green Finance’: Adopt ‘PP’ Or Encounter Survival Business Risk

The term ‘Green Finance’, came to my attention about two years ago, that caught me by surprise. At the time, I couldn’t realise, what it was all about exactly, what was behind of it, what was aiming at. Today, after some research on the jargon, I can understand that ‘Green Finance’ is interlinked with the Poseidon Principles (PP) adopted by the banks, and the insurance companies, to reflect the environmental impact which will be measurable as of this year through the CII requirements (Carbon Intensity Indicator) and will apply to ...

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Greece approves construction of FSRU off Athens

Greece has approved the construction of a floating gas and regasification unit (FSRU) off Athens after a fast-track process, its development ministry said on Friday. As demand grows for liquefied natural gas (LNG) in Europe in the wake of the war in Ukraine, Greece has relied heavily on its sole LNG terminal off Athens, Revithoussa, to replace Russian gas imports. Bulgaria also used the facility last year to secure LNG after Moscow cut Russian pipeline gas supplies to the country. The new gas terminal will be developed by Motor Oil ...

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Capital Ship Management Corp. Takes Delivery of M/T ‘Alkiviadis’

The first tanker with Wind-Assisted Ready and HVSC-Ready ABS notations and the first of six LNG fuel ready sister ships with eco-friendly design delivered to Capital in 2023. Piraeus, Greece, January 27, 2023. Capital Ship Management Corp. (‘Capital’) took successful delivery of the newbuilding vessel M/T ‘Alkiviadis’, a 50,000 dwt, eco-type Chemical/Product MR tanker, built by Hyundai Vietnam Shipyard Co Ltd. It is the first tanker assigned with Wind-Assisted Ready and HVSC-Ready notations by ABS, while it is the first of six LNG Fuel Ready sister ships with eco-friendly design ...

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GasLog Partners Rides Strong Market Conditions During Fourth Quarter of 2022

GasLog Partners LP, an international owner and operator of liquefied natural gas (“LNG”) carriers, reported its financial results for the three-month period and the year ended December 31, 2022. Highlights Extended the time charter agreement of the Methane Becki Anne, a tri-fuel diesel electric (“TFDE”) LNG carrier, with a wholly owned subsidiary of Shell plc (“Shell”) exercising their five-year option to extend, with the contract now due to expire in 2029. Also, extended the time charter agreement of the Methane Jane Elizabeth with a subsidiary of Cheniere Energy Inc. (“Cheniere”) ...

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Dry Bulk Market Under Pressure in Early 2023

The dry bulk market has faced increasing headwinds in these early weeks of 2023. In its latest weekly report, shipbroker Intermodal said that “during the last weeks, the BDI has lost significant ground and has reached levels last seen at the summer of 2020. There are a lot of reasons why rates are falling but in this piece of insight we are going to dive deeper on the grains market outlook from a grains production point of view”. According to Intermodal’s Research Analyst, Mr. Fotis Kanatas, “regarding wheat, production will ...

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