Andreas Canel

Day 208 of the Red Sea crisis – and other news. Yesterday a vessel in the Arabian Sea east of the entrance to the Gulf of Aden reported an explosion in close proximity to the vessel. Then this morning the UKMTO reported an incident in the Bab al-Mandeb Strait but no details as to what the incident was. US forces shot down a drone over land in Yemen. The Panama Canal will undertake work to create a water reservoir to safeguard water levels in the future and avoid the problems we have seen due to the recent drought. The expansion is expected to be completed in 6 years. 20 vessels are reported as waiting outside Port Klang which has now also become congested. In essence it looks like a game of whack-a-mole in the major Asian ports where congestion shifts vessels to other ports, in turn spreading the joy of congestion. Port workers are on strike for 48 hours in Hamburg and 24 hours in Bremerhaven. TS Lines became yet another niche carrier to launch a Transpacific service with small tonnage in what has become a familiar pattern when freight rates become very high. See details in below link from Splash247. Such services from smaller carriers with smaller tonnage is a clear indication that the market actually work as you would expect if there is a low barrier of entry for new competitors. When there is a capacity shortage prices for a limited resouce increase. If prices reach a level where you can insert higher cost capacity profitably, then this is what you should do – and this is indeed what happens. It is also an arbitrage where vessels become redeployed away from lower paying trades and into higher paying trades. This in turn creates a negative price pressure on the high paying trades and a positive price pressure on the low paying trades. Note that “negative price pressure” in this context does not necessarily mean that prices drop, but could also be that they increase at a lower pace than they otherwise would have without the added capacity injection. It also very clearly illustrates that the only reason that the deep-sea trades in normal times do not have more niche competitors is that it is quite simply not profitable to offer such services when rate levels are normal. https://lnkd.in/dZBDjK2B

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I do not know enough details about the calculations underlying FuelEU coming into effect in Jan 2025 to tell what is right or wrong in the below case. And herein lies the rub. A common pattern is that governments decide on regulation for shipping years in advance, but practicalities in implementation regulations only emerge at the last minute (or later). For example when it became mandatory to provide a verified weight of containers before loading (VGM) it was very late, or after implementation date, for some governments to make the rules as to _how_ you were to verify the weight and what tolerances were allowed. When EU implemented low-sulphur rules (long before IMO2020) rules especially regarding penalties for violations at times only came after the deadline. Sure, the shipping industry has a clear track record for procrastination and only take new regulations seriously when the deadline is looming. But governments are at times equally guilty of being laggards in providing clear and precise regulatory guidance ahead of time

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Day 140 of the Red Sea crisis – which means it has now been 20 weeks since the major container carriers began to divert around Africa due to attacks from the Houthies. On the positive side, news are out that Iran has now released the crew members who were detained when they seized the “MSC Aries”, and they are free to go home. The vessel, and its cargo, is still being held by Iran – just as the 3 other vessels Iran has seized in April ’23, May’23 and January ’24. The leader of the Houthies gave a televised speech yesterday where he vowed to escalate the attacks on ships in the Red Sea unless Israel ends the war in Gaza and the US stops attacking Yemen. Incidentally, US performed attacks again in Yemen this night where they engaged and destroyed three drones. It should be noted, as I also mentioned a few days ago, that until now in this specific conflict the Houthies have not been issuing idle threats, hence the shipping sector should not hope for a speedy resolution of the problems. Whether an "escalation" means an increase in the number of attacks, an expansion of the risk area or an even wider definition of how to assign nationality to a vessel is unknown. Maersk’s CEO Vincent Clerc explains that the sharp drop in schedule reliability is because Maersk has taken in fewer vessels in recent years than their competitors, and hence are less able to plug the holes in the network caused by the Red Sea crisis – see a good piece from Shipping Watch outlining this below.   https://lnkd.in/gfXaM3yF

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Tackling Methane Slip in shipping. Methane a fuel pathway in transition. The IMO has set a target for 5 percent (with aspirations for 10 percent) alternative fuel uptake in the maritime industry by 2030. This is ambitious but achievable. To succeed, we need to mobilize and scale multiple fuel pathways. The future of maritime is multifuel: bio-oils, methanol, ammonia, and methane all have crucial roles to play. Methane, through biogas, offers a scalable near-term opportunity to meet the 2030 target, provided we manage the entire supply chain's Well-to-Wake sustainability (LCA). Today, at the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, we are launching our latest report focusing on Tank-to-Wake slip emissions when converting methane energy to power onboard ships. The report provides insights into regulatory options and quantification methods to advise the IMO and other regulators as well as technology developers, ship builders and owners. Key Learnings: - Controlling methane slip emissions is essential for the viability of the sustainable methane fuel pathway. - Technical solutions to reduce methane slip onboard vessels exist, but current regulatory frameworks do not sufficiently incentivize their adoption. - The industry needs effective regulations to drive the implementation of solutions that minimize methane slip from shipping. - Targeting newbuilds urgently is cheaper and simpler than retroactive regulation. - We propose a convenient method for quantifying onboard methane slip, which would better incentivize technological improvements and could be implemented as part of regulations targeting methane slip. Kudos to the entire team across the MMMCZCS partnership for delivering this crucial work and providing valuable input to the IMO on critical regulation enabling the methane pathway. Find the full report here: https://lnkd.in/dt_3_m9B Related Publications: Technology is available to greatly mitigate and abate unburned methane from ships' energy conversion. Access our recommendations here: https://lnkd.in/dTHcdt5Y Biogas represents an opportunity to contribute through existing infrastructure with a lower initial cost basis compared to other alternative fuels. Learn more about biogas as a source of biofuels for shipping here: https://lnkd.in/dmqs-WQm #LNG #AlternativeFuels #MaritimeIndustry #Decarbonization #SustainableShipping #MethaneSlip #IMO #Regulation #Innovation

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This is a very important pilot - we need to understand the risks related to use of biofules so we can mitigate them before they cause accidents.

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Day 200 of the Red Sea crisis – and other news There were no new attacks reported yesterday by neither British UKMTO or US Central Command. However, the Houthies claimed to have performed attacks on 4 merchant vessels. They claimed attacks as follows: An attack on container vessel MSC Unific with cruise missiles which was “accurate and direct”. An attack on tanker “Delonix” for the second time in a week. An attack on Ro-Ro vessel “Anvil Point” in the Indian Ocean with cruise missiles which were “accurate and direct”. An attack on product tanker “Lucky Sailor” in the Mediterranean with cruise missiles. This is by now a familiar pattern where the Houthies claim multiple successful attacks, including attacks in the Indian Ocean and in the Mediterranean, but the attacks are not confirmed by any other sources at all. By now the number of such claimed, but unverified, successful attacks is of a scale where it is highly unlikely that all the owners and crew on the mentioned vessels would be part of a conspiracy to not tell if they were attacked. We are therefore at a point where it must be quite simply concluded that Houthies are lying about some of these claimed attacks – either lying when saying the attacks were “accurate” or lying that they took place at all. That doesn’t mean that they are not doing any attacks at all – they most certainly are, and the passage in both the Gulf of Aden as well as southern Red Sea is indeed dangerous. But it means that they must have a need to exaggerate their feats. CMA CGM announced a new FAK rate of 6000 USD/40’ as well as 6000 USD/20’ (yes, same level for both 20’ and 40’)  from Indian subcontinent to Europe applicable from July 15th. Hapag-Lloyd announced a GRI from Indian Subcontinent to Latin America of 3000 USD/20’ and 3000 USD/40’ hence also charging the same for 20’ and 40’ containers from July 15th. It is now 200 days ago the container lines began diverting around Africa, and it is time to contemplate a possible scenario wherein this situation might not be solved in even the medium term future and where it could be years before we can revert back to normal. I write a bit more about this in my column in JOC here: https://lnkd.in/dbf9MmUG

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The pertinent question is whether these New Offshore bunker operators that are poised to make billions are compliant with labour law Department of Labour or operating with the incorrect visas. How has your barge been in the country for 3 - 5 years but you still employ a majority of foreign crew. Are we selling the family jewels for simply the few thousand rands that a bunker license costs and a handful of agents supplying water and stores!? Lets not repeat past mistakes. We need to create jobs, especially for young people, wherever we can. South African Maritime Safety Authority Transnet National Ports Authority South African Maritime Safety Authority https://lnkd.in/esQ-KZNb

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Global Impact of Red Sea Attacks: Singapore Port Congestion The recent attacks in the Red Sea have caused a ripple effect throughout the maritime industry. As vessels reroute to avoid these high-risk zones, major ports like Singapore are experiencing significant congestion. SK Maritime Analysis: This congestion has the potential to disrupt global supply chains, leading to: Increased shipping times Potential delays in deliveries Fluctuations in freight costs Industry Outlook: The maritime industry is closely monitoring the situation in the Red Sea and working towards solutions to ensure the smooth flow of goods. SK Maritime's Role: As a leading voice in the maritime industry, SK Maritime is committed to: Providing ongoing updates on the situation Developing contingency plans to minimize disruptions Advocating for collaborative solutions within the industry Stay Informed: We encourage you to follow SK Maritime's social media channels for the latest industry updates. URL : Https://https://lnkd.in/d8iA4fUm BusinessWhatsApp: +919136657900

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interesting survey about autonomous sailing and regulation in #IWT Universiteit Antwerpen Department of Transport and Regional Economics TPR #automation SEAFAR. Are you involved in IWT? Just a moment of your time to help a young researcher.

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Global container demand grew 5.1% year-on-year in March 2024 according to the newly released data from Container Trade Statistics. Is this good solid growth or is it mediocre? It is important to take context into perspective, hence let me place this number into a range of different contexts. In the “old days” pre-pandemic global TEU demand tended to grow very roughly in line with GDP at around 3% give-or-take a few decimal points. In this context 5.1% is certainly solid growth. The global container vessel fleet has grown approximately 10% year-on-year, and in this context demand growth of 5.1% is not impressive. Compared to March 2019 before the pandemic, March 2024 is up a measly 5.9% in total over the 5 years. This an average of 1.1% per year over the 5 years. Certainly not reflective of a strong market when we also consider that the total fleet has grown more than 25% in the same 5-year period. This is purely TEU – what if we take distances into account? In that case TEU*Miles has grown 6.9% year-on-year if the baseline is used as the Suez routing. If we take the round-Africa diversions into account this becomes a year-on-year growth of a staggering 23%. Surely a surge a lot larger than the infusion of new vessels over the past year – but hold your horses before concluding the market is overly strong. If we calculate TEU*Miles in March 2024 around Africa versus March 2019 before the pandemic, the total growth is 26% - roughly matching the fleet growth in the same period. By and large the March data can not be taken as an indication of a strong global demand, but should rather be seen as a market recovering after a couple of very poor years – and a Red Sea crisis needing every ship built since 2019. The global average freight rate index declined 5% in March compared to the peak in February. This means the global average rate is up 23% compared to the bottom in November’23 as well as up 27% compared to the average level in 2019 before the pandemic. At the same time it is down -10% compared to March’23. But for further context, Q1 2024 rate is up 27% compared to Q1 2019 – yet the carriers’ financial results are coming in at EBIT levels close to, or below, zero in Q1 2024 due to cost inflation. https://lnkd.in/eftvFFYH

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𝗜𝘀 𝗔𝘂𝘁𝗼𝗻𝗼𝗺𝗼𝘂𝘀 𝗦𝗵𝗶𝗽𝗽𝗶𝗻𝗴 𝘁𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲? The maritime industry is on the brink of a technological revolution, partly driven by the power of artificial intelligence. Imagine a world where autonomous ships navigate with minimal human intervention, communicating seamlessly with remote control centers that have a full picture of their status. This reality is closer than you might imagine. As Manolis Andriotakis insightfully states on Kathimerini, "The rise of autonomous floating computers is inevitable. We are going to witness a growing market around this revolution. As applications of Al evolve, and ships become smarter, the need for more sensors and more accessible and reliable databases will grow. The same will happen with data scientists. Up to now, ships consumed fossil fuels; from now on they will increasingly rely on data, the fuel of the 21st century." This shift brings unprecedented opportunities and challenges. It's important to remember that while AI brings immense capabilities, it doesn't operate in isolation. 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 𝘀𝘁𝗶𝗹𝗹 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝘀 𝗲𝘅𝗽𝗲𝗿𝘁 𝗼𝘃𝗲𝗿𝘀𝗶𝗴𝗵𝘁 𝗮𝗻𝗱 𝗵𝘂𝗺𝗮𝗻 𝘁𝗼𝘂𝗰𝗵 𝘁𝗼 𝗲𝗻𝘀𝘂𝗿𝗲 𝘀𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻. The need for a team that comprises experienced maritime professionals, software developers, and AI experts is skyrocketing. Do not wait for the industry to catch up, how? Position your business at the forefront of this AI-driven revolution 👉 https://www.bluekey.ai/ #AI #ArtificialIntelligence #MaritimeIndustry #BlueKey #AutonomousShipping

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The Panamax Post Thursday, 20th June   The sea does not pardon ignorance, it enlightens those who seek knowledge   Good morning, and welcome to my daily Panamax Post column on another beautiful morning here in London with a high of 23C and a 6mph ENE breeze, we are set fair Marcus Hand leads us off in another great Seatrade Maritime Podcast where Punit Oza, FICS, AFNI, LLB, M.Sc. Maritime NXT, talks with Christoph Toepher, of Borealis Maritime, about the #geopolitical landscape impacts their business With this and much in the news, I wish you good fixtures and safe travels and now for the news before the headlines #Corn production in Zimbabwe in the 2024-25 marketing year is forecast to fall by 60% due to extreme drought conditions The Baltic Exchange’s main sea freight index, snapped a five-session winning streak weighed down by lower #capesize and #panamax vessel rates Russian-piped gas #LNG shipments made up 15% of the supply delivered to the #EU #UK #Switzerland #Serbia #Bosnia and Herzegovina, and North Macedonia in May #Houthis have ratcheted up the fear factor for #seafarers heading to the Middle East – as well as families at home – with their latest video showcasing how they managed to deploy boats packed with explosives to take out MV Tutor last week Shipping companies brace for a US strike that would shock #supplychains. The cancellation of an important negotiation meeting has raised fears that a strike could be imminent. Hapag-Lloyd AG is closely monitoring the situation Charterer data shows shipping falling short of climate trajectories for the Paris Agreement, the #IMO’s striving targets, and its minimum targets to reach #netzero in 2050 Monitoring agencies are issuing warnings over increased #piracy activity specifically where boarders have come onto the vessels and tied up crewmembers while stealing stores Sirius Shipping AB has sealed a charter deal with compatriot refiner Preem for two #methanol -ready oil and chemical carriers under construction in China Cracks are appearing in the bullish picture for liquefied #naturalgas demand in China The Paris MoU white and black lists for flag states have grown this year as new entrants joined the port state control rankings table Seatrium’s wholly owned subsidiary, Seatrium New Energy and RigCo Holding, have entered into a settlement agreement with Awilco Drilling India’s cabinet approved development of a new deep-water port that the government said will be a crucial part of a plan to connect the Asian country with Europe by sea and rail links through the Middle East India aims to install 500 gigawatts of #renewableenergy capacity by 2030 Höegh Autoliners secures millions in funding for ammonia vessels. The first newbuild in the Aurora class will be delivered in August Svitzer raises full-year guidance. Both revenue and operating profit are set to grow more than previously anticipated Thank you to Adis Ajdin Marcus Hand The Maritime Executive gCaptain

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The versatility of Mitsubishi 802 is an answer to the diverse demands of many sectors. with its shallow draught and dynamic Positioning capabilities the vessel is equally at home both nearshor and offshore

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Header about dualfuel ships and FuelEU maritime that catches the readers attention to read further Defining the TC hire premium of a dualfuel (DF) vessel for FuelEU Maritime (FEM) world is one of the most challenging tasks there is at the moment but yet it needs to be done. There are 2 unknowns that particularly cause problems for the calculations: 1. The DF capability, whether it is for CH4 or MeOH is only one factor for defining the CoC (cost of compliance, sorry for the extensive use of acronyms), the other, cost level of that green fuel is hard to predict and in the responsibility of the charterer. 2. During the first FEM years, the need for compliance is very likely limited (it might be limited even to only that one vessel or in a better case to the pool of the charterer) and therefore there is a very plausible scenario that the compliance production capability does not need to be fully utilized. And moreover, if the charterer would like to sell the compliance they do not need, price of that is not very clear at the moment for 2025. What I would advice in cases like this is a profit split arrangement between the owner and the charterer. I know that it is not very common or easy solution, but it is fair for both parties to say the least. There the TC hire should be without the ”green premium” as a starting point. Then we would calculate the alternative cost for generating the desired quantity of compliance with a method available for all (B30 for example is a good reference) and then the real cost with whatever low carbon fuel is to be used with the DF engine (do not forget the ETS cost reduction part) and the difference of these figures is the gained benefit which I would suggest to split 50-50. Same method could be applied also for the cases where the compliance generation is fully utilized for selling it through a pool arrangement. In the pic we have very theoretical case where the ”base fuel” is HFO and the DF low carbon is bio-LNG. The total fuel related costs while getting this 5kt HFO burning vessel compliant during 1 year TC period is 138 kUSD cheaper with bLNG than with B30. And with this calculation method the charterer would pay the owner 69 kUSD profit share adjustment after keeping the same amount of benefit for themselves. The above I say today thinking it from the neutral ground, not sure if it could fly IRL but PM me if you want to try out and formulate it to your TC terms. And ping BIMCO - I know you’re working on these clauses as we speak 😉 #fueleumaritime #shipemissionwarrior #chartering #dualfuel

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Magic ETL pipeline anyone? At Greywing, we've spent the last four years building out automated dynamic typing and ETL (Extract, Transform, Load) pipelines for maritime data. We've connected to over 30 different suppliers and stakeholders in the ecosystem. This means that we have the critical mass of operational expertise required for our system to be well-versed in common mistakes, different data schemas, and export formats. And with Generative AI, we have solved the final piece. This means that today, you can easily integrate files or large databases (We're talking millions of rows) to Proteus, and it pulls on the combined power of Greywing to understand that information, and neatly organize it in a manner that can be retrieved. Most organisations attempting to  integrate with new customers today find this to be the biggest hurdle to cross from a resource and feasibility perspective. #buildinpublic #foundersthoughts #generativeai #startup #maritime #digitisation #shipping

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Green fuel supply 'big headache' for shipping, warns DNV’s Knut Ørbeck-Nilssen DNV Maritime chief executive Knut Ørbeck-Nilssen warns shortages of green fuels and lack of commercial drivers will slow shipping’s progress on decarbonisation, putting a stronger emphasis on implementing energy-efficiency measures Alternative-fuelled vessels now account for 50% of the current orderbook, but shipping’s progress to reduce its carbon footprint faces major roadblocks, warns DNV Maritime chief executive Knut Ørbeck-Nilssen. “Decarbonisation in the maritime industry is likely to slow down,” said Mr Ørbeck-Nilssen during his opening remarks for a DNV seminar at Posidonia. “Vessels are busy trading and there is little incentive to bring them into yards for retrofitting to alternative fuels.” While calling the current ordering for alternative-fuelled vessels, “a good start,” Mr Ørbeck-Nilssen also pointed out “93% of the global fleet is still running on conventional fuels.” Those shipowners that have invested in dual-fuel propulsion vessels have had to “pay a pretty high premium on the capex” to build them, but have little opportunity to pass on those costs, he noted. Without those commercial drivers, shipowners need to focus on quickly incorporating energy-efficiency measures. These efficiency measures could yield significant fuel and emissions savings. Speed reduction, hull coatings and cleaning, air lubrication, engine derating, air lubrication, waste-heat recovery and wind-assisted propulsion were among the measures highlighted during the seminar. Mr Ørbeck-Nilssen described the supply side of low- and zero-carbon fuels as “a big headache” for shipping. While the move towards alternative dual-fuel engine technology has begun, the move towards operating on green fuels has not. “There are not enough green fuels available, and they will remain unavailable for most,” he said. DNV estimates shipping will require 20-30% of global carbon-neutral fuels by 2030. Without low- and zero-carbon fuels, shipowners will continue to use traditional marine fossil fuels and IMO’s greenhouse gas emission reduction targets and net-zero ambitions will not be achievable. “That is why I am offering what I think is a more realistic outlook. There is a significant divide between politicians’ ambitions and what the industry can actually deliver,” he concluded.

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Day 180 of the Red Sea crisis – and other news No new attacks on vessels were reported. US forces engaged and destroyed 2 missile launchers within Yemen. The trend of niche carriers launching deep-sea services with small vessels continue. Sea-Lead shipping and BAL Container line each lanuch a Transpacific service. Sea-Lead shipping connecting China and Busan to USWC and BAL Container Line connecting China to Mexico. CMA-CGM launched a new Asia-Europe service called French Peak with 7.000 TEU vessels from June 30th to early September. This vessel size is quite small for this trade. I cannot see similar information on this matter from OOCL, COSCO or Evergreen hence it appears to be a service outside the scope of the Ocean Alliance – unless the Asian partners are just very slow in updating their own information. This is following the same pattern as during the pandemic disruptions. Once freight rates are sufficiently high it becomes viable to launch niche service with smaller vessels. It should be noted that, just as under the pandemic, there are not really any idle ships around hence the launch of such new services means that capacity is being removed somewhere else. MSC is re-launching its Mustang service from China to Long Beach. In this case clearly not with small vessels as the first depature is with 16.000 TEU “MSC Lella” which is a newbuilding from 2024. Yesterday the UN Security Council agreed on a ceasefire proposal for Gaza. It appears this led to a sharp drop in share prices for the container carriers. I am not a stock analyst so will refrain from trying to make sense of the numbers, but it appears to me that someone got spooked thinking that this would quickly lead to the re-opening of the Suez routing and hence a drop in freight rates. But, of course, the UN cannot dictate what happens in that region. And status as of this morning as per coverge from Al-Jazeera is that it appears that Hamas has still not agreed to the ceasefire. It should also be noted that a ceasefire does not mean the large carriers will instantly return to a Suez routing. It is unknown what it will take for the Houthies to stop attacking vessels. Is a temporary ceasefire suffient? Or should it be a more permanent peace? Or something more? From a carrier viewpoint the major risk would be going back to Suez routing only to have to do a U-turn and go back around Africa if the ceasefire does not hold or the Houthies have another agenda. This would be extremely disruptive to the cargo flow and the capacity availability, hence the carriers might be quite risk-averse.

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The Panamax Post Friday, 5th July   The sea speaks to those who can hear its ancient song   Good morning, and welcome to my daily Panamax Post column on a very wet and overcast morning here in #London, with rain throughout, 7mph WSW breeze and a high of 20C   With much in the news, I wish you good fixtures and safe travels until we meet here again on Monday, and now for the news before the headlines For the first time in history there are now more than 2,000 #capesizes trading around the world, doubling in size over the past 14 years Container #freightrates continue to trend upwards with Q3 looking like it will be one of the most profitable quarters in liner history A new study by Gard AS shows that a worrying 11% of crew fatalities recorded on its insured fleet in the five years between 2019 and 2023 were due to #suicide The Ukraine launched a drone attack on the port of #Novorossiysk The Baltic Exchange’s main sea freight index fell to a one-week low, dragged by weaker demand across all vessel segments The recent rise in the #drybulk freight market has reinforced shipowners’ “appetite” for more second hand bulkers #HurricaneBeryl ripped through the Caribbean this week. Among the widespread devastation, the cost to boating communities – whether for #leisure or #business – has been extremely high Almost 90% of #containerships arrive in #Singapore off-schedule, a significant increase from 77% in 2023, according to Transport Minister Hong Tat Chee. At least one so-called #VLCC, capable of hauling two million barrels of oil is already sailing from the #MiddleEast to #Europe The contract between the largest shipping group in Greece and Seatrium is for two years with a one-year renewable option includes the retrofit of 10 to 15 vessels a year from Angelicoussis Group’ fleet of LNG carriers DP World and Zhejiang Seaport JISU Co., ltd. Group hace announced a new strategic partnership that will focus on attracting shipping companies to establish additional routes between the two ports in #UAE and #China Berlin has banned the sale of MAN Energy Solutions’ gas turbine business to a Chinese #shipbuilding business CDB LEASING CO.,LTD's $8.6bn in shipping assets across 230 vessels may change hands as China Development Bank explores a sale of its leasing arm The potential abolition of the French tonnage tax regime is causing significant concern within the #industry as early legislative elections reignited a debate started with the Finance Bill for 2024 OOCL has won the "2024 Asian Freight, #Logistics and #SupplyChain (AFLAS) Awards - Best Green Shipping Line" for the second time Winning International Group Pte Ltd has moved to further bolster its West Africa to China seaborne trade with an order for six very large #ore carriers worth nearly $700m Thank you to Adis Ajdin Marcus Hand Vijay krishna The Maritime Executive gCaptain

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The Panamax Post Wednesday, 26th June   "To desire nothing beyond what you have is surely happiness. Aboard a boat, it is frequently possible to achieve just that. That is why sailing is a way of life, one of the finest of lives”   Good morning, and welcome to my daily Panamax Post column on another beautiful morning here at Spot Ship HQ #London, with a high of 30C in the forecast, it’s going to be a great day   With much in the news, I wish you good fixtures and safe travels. And now for the news before the headlines #EU has released its 14th package of sanctions in a decisive step aimed at increasing pressure on #Russia. THE package adopted directly designated 27 ships and those transporting military equipment and stolen grain from Ukraine The unstable #geopolitical conditions in the Red Sea have forced container ships from Asia to circumnavigate Africa, approaching Cosco Port terminals in Spain and northern Europe instead of Piraeus The Baltic Exchange’s main sea freight index fell to its lowest level in two weeks, pulled down by weaker capesize and panamax vessel rates As liner operators become desperate for ships, charter rates have hit the $150,000/day mark Reederei Horst Zeppenfeld has exited the container markets, with Alphaliner reporting the sale of the 1,341 teu Algol to Element Shipmanagement S.A. Shipyards are making the most of the current #newbuilding boom with new data suggesting the number of active yards has leapt by 17.7% in the last two years The International Transport Workers'​ Federation (ITF) and #seafarers’ unions around the world are demanding immediate action to ensure the safety of seafarers in the #RedSea Nippon Yusen Kaisha Limited has agreed with Indonesian #Pertamina International Shipping Pte Ltd to collaborate in the field of liquefied carbon dioxide (#LCO2) and liquefied natural gas (#LNG) and jointly establish a #shipmanagement company Sanctions on shipping companies are undermining safety at sea and pose dangers for trade as ship standards are impacted Tight shipyard capacity and the fear of missing out are driving values well beyond the likelihood that outlay can be recouped in earnings, writes Plamen Natzkoff from Maritime Strategies International Venezuela’s state oil company, PDVSA, has begun using tankers that navigate off radar to supply its closest political ally, #Cuba, as a fleet of state-owned vessels that have historically covered the route dwindles Crowley Maritime has formally christened its long-awaited electric harbor tug, the eWolf, in a ceremony in #SanDiego A recreational #fisherman has been fined $34,000 for multiple breaches of the rules of the Dover Strait Traffic Separation Scheme Thank you to Adis Ajdin Marcus Hand Vijay Krishna on Garden Leave Looking for new opportunity The Maritime Executive gCaptain

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