1. Workshop on effective ESG reporting for shipping concludes with insightful discussions. The recent workshop on “Effective ESG Reporting for Shipping” with Program Sponsor Enablon & Supporter Sponsor KPMG, brought together industry leaders, financial experts, and sustainability professionals to discuss the evolving landscape of ESG reporting. The event highlighted the growing importance of ESG as a critical component for resilience, accountability, and risk management in the maritime sector.
https://cyprusshippingnews.com/2024/12/02/workshop-on-effective-esg-reporting-for-shipping-concludes-with-insightful-discussions/
https://cyprusshippingnews.com/2024/12/02/workshop-on-effective-esg-reporting-for-shipping-concludes-with-insightful-discussions/
2. EuroDry signs contract for the construction of two modern 63,500 DWT Ultramax bulk carriers. EuroDry , an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced that it has signed a contract with Nantong Xiangyu Shipbuilding for the construction of two 63,500 DWT ultramax bulk carriers. Both vessels are geared, eco, and are built to EEDI phase 3 design standard. The two newbuildings are scheduled to be delivered during the second and third quarters of 2027. The total consideration for the two newbuilding contracts is approximately $71.8 million and will be financed with a combination of debt and equity.
https://cyprusshippingnews.com/2024/11/22/eurodry-signs-contract-for-the-construction-of-two-modern-63500-dwt-ultramax-bulk-carriers/
https://cyprusshippingnews.com/2024/11/22/eurodry-signs-contract-for-the-construction-of-two-modern-63500-dwt-ultramax-bulk-carriers/
3. European market hits contango amid rising Russian supply and weak demand. The significant year-end correction in the naphtha market continues for another week, with Dec/Jan timespreads in both European and Asian markets having dropped by $7/mt since early November.
The drop has been particularly sharp in the European market, where prompt timespreads are currently trading in contango for the first time this year when looking at the M0 and M1 rolling contracts.
https://cyprusshippingnews.com/2024/12/02/european-market-hits-contango-amid-rising-russian-supply-and-weak-demand/
https://cyprusshippingnews.com/2024/12/02/european-market-hits-contango-amid-rising-russian-supply-and-weak-demand/
4. Prokopiou-backed Pure Energy signs $1.1 Billion Sale and Leaseback Deal. Watson Farley & Williams (“WFW”) advised CMB Financial Leasing Co., Ltd. (“CMBFL”) on the US$1.1bn sale and leaseback of five 200,000m3 LNG carriers with Pure Energy Limited (“Pure Energy”), which includes pre-delivery and post-delivery financing arrangements on vessels which are to be employed on a long term basis with multiple reputable market leading chartering groups.Founded in 2008, Shanghai-based CMBFL provides financial leasing solutions to large, medium and small businesses across China. It is a subsidiary of China Merchants Bank, the first joint stock-holding commercial bank owned by corporate legal entities in China.
https://cyprusshippingnews.com/2024/12/02/prokopiou-backed-pure-energy-signs-1-1-billion-sale-and-leaseback-deal/
https://cyprusshippingnews.com/2024/12/02/prokopiou-backed-pure-energy-signs-1-1-billion-sale-and-leaseback-deal/
5. COSCO SHIPPING’s ongoing green fleet expansion. Recently, COSCO SHIPPING has been actively advancing the development of green, low-carbon, and intelligent fleets within its oil and gas as well as general cargo specialized fleets, in response to the accelerated pace of carbon emission reductions in the international shipping industry.
https://cyprusshippingnews.com/2024/12/02/cosco-shippings-ongoing-green-fleet-expansion/
https://cyprusshippingnews.com/2024/12/02/cosco-shippings-ongoing-green-fleet-expansion/
6. Protesters Block Access To Black Seaport Of Poti. Georgian anti-government protesters on Sunday blocked an access road into the country’s main commercial port in the Black Sea city of Poti, Georgian news agency Interpress reported.
Images showed at least one entrance to the port complex blocked by protesters demonstrating against the ruling party’s announcement on Thursday that it was suspending talks on joining the European Union for four years.
https://gcaptain.com/protesters-block-access-to-black-seaport-of-poti/
https://gcaptain.com/protesters-block-access-to-black-seaport-of-poti/
7. China Coast Guard Says It Conducted Patrols Around Scarborough Shoal In South China Sea. China’s coast guard said it had conducted patrols around the Scarborough Shoal in the South China Sea on Saturday to safeguard China’s territorial rights.
The coast guard has continued to strengthen law enforcement patrols in the territorial waters and surrounding areas of Scarborough Shoal since the beginning of November, and “resolutely safeguarding the country’s territorial sovereignty and maritime rights and interests,” it said in a statement.
https://gcaptain.com/china-coast-guard-says-it-conducted-patrols-around-scarborough-shoal-in-south-china-sea/
https://gcaptain.com/china-coast-guard-says-it-conducted-patrols-around-scarborough-shoal-in-south-china-sea/
8. India and Italy In Talks On Blue Economy, Port Cooperation. Italy is in talks with India to ramp up cooperation in the ship and yacht building industries, Minister of Business and Made in Italy Adolfo Urso said. The discussions span the broader areas of blue economy and space, Urso said in an interview on the sidelines of the Tour Vespucci in Mumbai on Saturday.
https://gcaptain.com/india-and-italy-in-talks-on-blue-economy-port-cooperation/
https://gcaptain.com/india-and-italy-in-talks-on-blue-economy-port-cooperation/
9. CMA CGM to launch Maya Service dedicated to West Coast Central America. CMA CGM is pleased to announce the launch of its new weekly service, Maya Service, dedicated to West Coast Central America, also connecting Asia with West Coast South America via Lazaro Cardenas
https://shipmanagementinternational.com/cma-cgm-to-launch-maya-service-dedicated-to-west-coast-central-america/
https://shipmanagementinternational.com/cma-cgm-to-launch-maya-service-dedicated-to-west-coast-central-america/
10. New Seafarers’ Club opens in Southampton. A home away from home best describes the new Stella Maris Southampton Seafarers’ Club in the UK which was officially opened on 26th November.
The launch kicked off with a Blessing by Bishop Philip Egan (pictured) of Portsmouth Roman Catholic Diocese. Later in the day, a ribbon cutting ceremony was held with representatives from the various funders of the project: the Seamen’s Friendly Society of St Paul, the Merchant Navy Welfare Board, The Seafarers’ Charity, and Mission to Seafarers (as well as Stella Maris itself).
https://shipmanagementinternational.com/new-seafarers-club-opens-in-southampton/
https://shipmanagementinternational.com/new-seafarers-club-opens-in-southampton/