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International Shipping News

FUJCON Makes its Physical Return at Fujairah, UAE, March 13-15 2023

The International Fujairah Bunkering & Fuel Oil Forum (FUJCON) returns for an in-person, 13th convening in Fujairah on March 13-15, 2023, following the 2021 virtual session and the last in-person session in 2019, prior to the Covid-19 pandemic. The International Fujairah Bunkering & Fuel Oil Forum is now organized by S&P Global Commodity Insights and hosted by the Department of Industry & Economy, Government of Fujairah and the Port of Fujairah. FUJCON 2023 is held under the Patronage of His Highness Sheikh Hamad bin Mohammed Al Sharqi, Member of the ...

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Braemar Recruits New Tanker Desk and Opens Spanish Office

Braemar Plc, a leading international shipbroker and provider of expert advice in shipping investment, chartering and risk management services, is pleased to announce that it has recruited a new tanker broking team, based in Madrid, Spain. The highly experienced team of 10 brokers is renowned within the international tanker market, and previously worked for Medco Shipbrokers SL. The team specialises in crude, dirty products, clean products, and period chartering. The new desk’s offering and client base will complement those of Braemar’s existing tanker desks in London and Geneva, strengthen Braemar’s ...

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Investment in Newcastlemax Newbuildings with long-term charters

Ocean Yield AS is pleased to announce that the Company has agreed to acquire up to ten newcastlemax dry bulk newbuildings for a total consideration of up to USD 576 million net of seller’s credits. Upon delivery, the vessels will commence 15-year bareboat charters to a leading dry bulk operator with purchase obligations at the end of the charter period. Expected delivery will be between Q1 2025 and Q2 2026. The final transaction scope will be a minimum of five and a maximum of ten vessels, to be determined at ...

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Fast Offshore Supply Pte Ltd, Singapore signs a Memorandum of Understanding to jointly develop an Energy Storage System (ESS) with Terasaki Electric Co., Shift Clean Solutions Ltd. and RINA

Fast Offshore Supply Pte Ltd , Asia’s largest offshore crew boat operator, has signed an MOU to jointly develop an Energy Storage System (ESS) with Terasaki Electric Co., Shift Clean Solutions Ltd. and RINA for the FOS Fleet as part of FOS “Green Initiative and Sustainability Program” to cut vessel carbon emission. The ESS system will be a containerised version where it will have a “Plug and Play” connection to connect with the vessel’s Electrical System. Terasaki Electric Co. will be providing the in-depth know-how to upgrade the existing vessel ...

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VIKAND Reflects on Key Seafarer Issues Discussed at CrewConnect Global

As a leading global healthcare specialist to the shipping industry, VIKAND’s attendance at CrewConnect Global was integral to the company’s strategy of raising awareness about comprehensive seafarer healthcare, mental health and well-being. VIKAND’S proactive approach to offering a total healthcare solution to the maritime industry includes supplying suitable advice and guidance to seafarers to encourage them to make healthier meal choices and take up more active lifestyles to help lower their risk of developing common conditions such as diabetes and high blood pressure. All VIKAND’s medical personnel have worked at ...

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KONGSBERG to supply technology for Cadeler’s latest Wind Turbine and Foundation Installation Vessel

Kongsberg Maritime AS is pleased to announce the signing of a new contract to supply technology and engineering for a second F-class Wind Turbine and Foundation Installation Vessel (WTFIV) for Cadeler, a shipping and construction company operating in the offshore wind industry. This is the fourth Cadeler offshore installation vessel for which Kongsberg Maritime AS will supply its industry-leading technology. The new F-class vessel will be one of the world’s largest installation vessels in the offshore wind market when completed. Kongsberg Maritime’s integrated solutions for offshore installation vessels will ensure ...

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Gulf Navigation Holding announces new Corporate Identity

Gulf Navigation Holding PJSC, the Dubai Financial Market listed maritime and shipping company, unveiled a new Corporate Identity and announced its new logo as “GULFNAV” as it seeks to enhance its brand equity and transform into one of the world’s most trusted shipping and maritime companies, renowned for safety, integrity, reliability and sustainability. Established in 2003, GULFNAV supports some of the Middle East’s largest oil & gas companies with a fleet of first-rate tankers, offshore support vessels and crew boats; complemented by the full spectrum of ship management and agency ...

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Oil tanker jam forms off Turkey after start of Russian oil price cap

A traffic jam of oil tankers is forming off the coast of Turkey after the start of the cap on prices of Russian crude, the Financial Times reported on Monday. The report said four oil industry executives said Turkey had demanded new proof of full insurance coverage for any vessels navi-gating its straits in light of the Russian oil price cap. A $60 per barrel price cap on Russian seaborne crude oil took effect on Monday, the latest Western measure to punish Moscow over its invasion. The agreement allows Russian ...

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Optimarin highlights how to navigate the challenges of BWTS retrofits

A ballast water treatment system (BWTS) retrofit is not plain sailing. And proper planning with a trusted and reliable supplier onboard is essential to navigate technical, logistical and regulatory hurdles to achieve compliance, says Optimarin. As well as detailed planning, drydock capacity must usually be secured ahead of time for a BWTS retrofit that typically has an engi-neering lead time of six months prior to installation. As an alternative, it is also possible to carry out the installation afloat if docking space is hard to come by. Several of Optimarin’s ...

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Technomar partners with Ocean Technologies Group to deliver the next phase of its digital learning strategy

Technomar Shipping Inc, a leading Greek owned ship management company, has confirmed that it has signed an agreement that will provide its seafarers access to over 70 e-learning titles from Ocean Technologies Group (OTG). The agreement includes a comprehensive portfolio of e-learning resources as diverse as personal safety, firefighting, cargo handling, ship handling & navigation, marine engineering, maintenance & repair, cyber security, mental health, maritime legislation and environmental protection. The agreement covers the entire Technomar fleet of 84 container and bulker ships. The initial project began in 2020 with Technomar’s ...

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Signs of progress on DEI in shipping, but an ongoing lack of C-suite diversity, reports DSG Annual Review

The shipping industry is making progress on diversity, equity, and inclusion (DEI), according to the results of the 2022 Annual Review from the Diversity Study Group. This progress is most evident in junior and mid-level ranks, helping to build a more diverse talent pool of future leaders, but diverse representation remains far more limited at C-suite level. This is the third annual report from the Diversity Study Group (DSG), a membership organisation dedicated to fostering a more diverse, equitable and inclusive shipping and maritime sector. The report is based on ...

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Baltic index flat as panamax gains offset capesize losses

The Baltic Exchange’s dry bulk sea freight index was little changed on Monday as gains in the panamax segment were countered by a decline in capesize rates. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, inched 1 point lower to 1,323. The capesize index shed 17 points, or about 1.1%, to 1,502, its lowest in more than a week. Average daily earnings for capesizes , which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron ore, decreased $141 ...

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FBX Index December: Looking forward

It is quite an exciting time from the standpoint of container futures, with the market slide that started at the end of February 2022 now sitting at levels that are recognizable to 2019 and drawing in a dramatic increase in buy-side interest. Futures market levels directly align with buyer demands for 2023 and 2024 – creating a perfect opportunity for consumers to lock in hedges on futures. In terms of futures market development, liquidity and viability – the secret sauce lies in genuine volatility and price security, rather than relying ...

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Russia assembles a ‘shadow fleet’ of more than 100 oil tankers as Putin tries to bust western sanctions, report said

Russia has assembled a “shadow fleet” of more than 100 oil tankers in a bid to bust western sanctions imposed following Russian President Vladimir Putin’s invasion of Ukraine, the Financial Times reported. Shipping brokers and analysts told the newspaper they estimated Moscow has quietly amassed more tankers this year. “We’ve seen quite a number of sales to unnamed buyers in recent months, and a few weeks after the sale many of these tankers pop up in Russia to take their first load of crude,” Craig Kennedy, a Russian-oil expert at ...

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Shipping emissions – is your sustainability strategy prepared for what’s next?

In September 2022, legislators passed Australia’s first climate law in more than a decade and toughened targets to make the country net zero by 2050, with an aim to reduce emissions by 43% by 2030. For the Australian Petroleum Industry, this means companies will have to take a harder look at emissions and in particular their scope 3 emissions, which currently account for almost 75% of the total. Within that figure, shipping makes up a crucial portion and represents an opportunity for carbon cuts that should not be missed. Globally, ...

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