InterManager Daily News 22.07.2024.

1. GCMD concludes biofuels supply chain trials. The Global Centre for Maritime Decarbonisation (GCMD) has successfully completed its final supply chain trial for biofuel blended with very low sulphur fuel oil (VLSFO). This marks the end of a series of trials initiated in July 2022 as part of a larger pilot to develop a framework to provide quality, quantity and GHG abatement assurances for drop-in fuels.
https://cyprusshippingnews.com/2024/07/19/gcmd-concludes-biofuels-supply-chain-trials/

2. Fertiglobe wins first German H2Global green ammonia import tender at Eur1,000/mt. Germany has awarded the first green ammonia contract under its H2Global hydrogen derivative import scheme, with Fertiglobe winning at Eur1,000/mt ($1,088/mt) for delivery to Northwest Europe.
https://cyprusshippingnews.com/2024/07/19/fertiglobe-wins-first-german-h2global-green-ammonia-import-tender-at-eur1000-mt/

3. Suez Canal revenue drops as some shippers shun Red Sea. The Suez Canal’s annual revenue dropped by almost a quarter in its latest financial year as some shippers switched to alternative routes to avoid attacks by Iran-aligned Houthis in the Red Sea.

Osama Rabie, the head of the Egyptian canal’s authority said on Thursday revenues fell to $7.2 billion in its 2023-24 financial year from $9.4 billion the year before.
https://cyprusshippingnews.com/2024/07/19/suez-canal-revenue-drops-as-some-shippers-shun-red-sea/

4. Maersk says Red Sea shipping disruption having global effects. Denmark’s A.P. Moller-Maersk (MAERSKb.CO), opens new tab said on Wednesday that disruption to its container shipping via the Red Sea had extended beyond trade routes between the Far East and Europe to its entire global network.

Shipping groups have diverted vessels around Africa’s Cape of Good Hope since December to avoid attacks by Iran-aligned Houthi militants in the Red Sea, with the longer voyage times pushing freight rates higher.
https://cyprusshippingnews.com/2024/07/19/maersk-says-red-sea-shipping-disruption-having-global-effects/

5. NYK acquires multiple segments of ENEOS Ocean’s Shipping Business. On July 8, NYK and ENEOS Ocean Corporation, a consolidated subsidiary of ENEOS Holdings, Inc. that handles the shipping business of the ENEOS Group, agreed to NYK’s acquisition of 80% of the shares of a new company to be established by ENEOS Ocean Corporation. The new company will take over ENEOS Ocean’s shipping business through an absorption-type company split that will include the company’s LPG carriers, chemical tankers, product tankers, and dry bulk carriers. This demerger will not include ENEOS Ocean’s crude oil tanker business.
https://cyprusshippingnews.com/2024/07/19/nyk-acquires-multiple-segments-of-eneos-oceans-shipping-business/

6. Dragados and Siemens Energy win $3bn offshore grid connection contract Spain’s Dragados Offshore in consortium with Germany’s Siemens Energy has won a deal to construct a new converter system for the LanWin3 offshore grid connection project in the German North Sea.It was awarded by transmission system operator 50Hertz and the EPCI contract includes all engineering services, the procurement of the necessary components as well as the construction, transportation, and installation of the systems at sea and on land. The deal is worth around €2.9bn ($3.17bn).
https://splash247.com/dragados-and-siemens-energy-win-3bn-offshore-grid-connection-contract/

7. Tenaz Energy buys NAM Offshore from Shell-Exxon Dutch JV for $180m Canada’s Tenaz Energy has entered into an agreement with Nederlandse Aardolie Maatschappij, a joint venture between Shell and ExxonMobil, to acquire its offshore arm for €165m ($180m).The acquisition of NAM Offshore will have an effective date of January 1, 2024, and is expected to close in mid-2025.
https://splash247.com/tenaz-energy-buys-nam-offshore-from-shell-exxon-dutch-jv-for-180m/

8. Israel Strikes Yemeni Port City In Reply To Houthi Drone Attack. Israel struck targets around the Houthi-held Red Sea port of Hodeidah, retaliating for a drone attack on Tel Aviv by the Iran-backed militants that killed a man and exposed a vulnerability in Israeli air defenses.The airstrikes targeted a power station and fuel storage sites, the Yemen-based group said. A Houthi-run television showed flames and smoke raging in installations it said were hit. Israeli Prime Minister Benjamin Netanyahu said the port was used as a gateway for Iranian weapons supplies to the Houthis.
https://gcaptain.com/israel-strikes-yemeni-port-city-in-reply-to-houthi-drone-attack/

9. No Iranian Crude On Tankers That Collided Off Singapore, Tehran Says. Neither of two oil tankers that collided off Singapore on Friday carried Iranian crude, the Iranian oil ministry said on Saturday.

“The crude oil of neither of these damaged oil tankers was related to Iran and did not belong to Iran,” the ministry said in a statement on its website.
https://gcaptain.com/no-iranian-crude-on-tankers-that-collided-off-singapore-tehran-says/

10. DP World completes merger to form major logistics hub in Türkiye. Dubai-owned port operator DP World and Turkish Evyap Group announced on Friday they had completed a strategic merger that will combine two major ports on the Marmara Sea and create a new international logistics hub.The port merger will enhance Türkiye’s critical role in global trade, the two companies said in a joint statement after receiving regulatory approval from the Turkish Competition Authority (RK).
https://www.shippingtribune.com/news/shipping/DP+World+completes+merger+to+form+major+logistics+hub+in+T%C3%BCrkiye