1. Columbia Group Asia CEO refutes claims of lower standards in Asian shipping. Demetris Chrysostomou (pictured), CEO of Columbia Group Asia Region, has strongly rejected suggestions that Asian shipowners are falling behind their European and American counterparts when it comes to operational standards, describing such claims as “outdated and misleading.”
https://www.shipmanagementinternational.com/news/from-assumptions-to-accuracy-rethinking-fuel-efficiency-in-maritime-shipping-nbsp-25cbj
2. 10.4m teu container orderbook raises spectre of decade-long supply glut. The containership orderbook has reached a record high of 10.4m teu, according to data from Asian container consultancy Linerlytica, with the orderbook ratio rising to 31.7% of the fleet – its highest levels since 2010.
https://splash247.com/10-4m-teu-container-orderbook-raises-spectre-of-decade-long-supply-glut/
3. KMTC upsizes fleet with $600m order at HD Hyundai. Korea Marine Transport Co (KMTC) has been linked to its biggest move yet in the newbuild market, locking in an order for four 13,000 teu containerships at HD Hyundai yards.Brokers report the Seoul-based liner operator has committed to the quartet at around $150m per ship, marking a significant step up in vessel size for the intra-Asia-focused carrier.
https://splash247.com/kmtc-upsizes-fleet-with-600m-order-at-hd-hyundai/
4. Explosion rocks bulk carrier departing Baltimore. The 81,681 dwtW Sapphire, managed by Athens-based W Marine and flagged in Liberia, had just cleared CSX’s Curtis Bay terminal around 6:30 pm when a blast ripped through its forward cargo section, sending fireballs and a 80 m smoke plume into the summer sky close to the collapsed Francis Scott Key Bridge. Local residents described hearing the detonation and feeling vibrations in their homes.
https://splash247.com/explosion-rocks-bulk-carrier-departing-baltimore/
5. Norden continues asset play with bulker sale and purchase moves. Denmark’s Norden has continued its active run in the bulkers sale-and-purchase market, confirming the disposal of a supramax and the acquisition of a Japanese-built panamax.
The Copenhagen-listed company is following through on its strategy of converting leased tonnage into owned assets and then reselling them for profit.
https://splash247.com/norden-continues-asset-play-with-bulker-sale-and-purchase-moves/
6. Shippers File Fresh Federal Maritime Commission Complaints. More shippers have lodged complaints with the US Federal Maritime Commission (FMC), with DB Schenker USA and Wallenius Wilhelmsen (WW) the latest operators ‘in the dock’.
https://gcaptain.com/shippers-file-fresh-federal-maritime-commission-complaints/
7. Marine Insurers Urged to Address Modern Slavery Risks in Global Maritime Supply Chains. The International Union of Marine Insurance (IUMI) has called for marine insurers to heighten their awareness of modern slavery and forced labor risks throughout maritime and global supply chains amid increasing regulatory scrutiny.
https://gcaptain.com/marine-insurers-urged-to-address-modern-slavery-risks-in-global-maritime-supply-chains/
8. U.S. Treasury Chief Bessent Accuses India of Profiteering on Russian Oil Purchases. U.S. Treasury Secretary Scott Bessent on Tuesday accused India of profiteering from its sharply increased purchases of Russian oil during the war in Ukraine, saying Washington viewed the situation as unacceptable.
https://gcaptain.com/u-s-treasury-chief-bessent-accuses-india-of-profiteering-on-russian-oil-purchases/
9. Performance Shipping tanker heads to Pakistan under year-long charter. Greece’s Performance Shipping has secured a fresh time charter for one of its tankers, agreeing a year-long fixture with Pakistan National Shipping Corporation (PNSC).
The 105,304 dwt LR2/aframax P Aliki has been fixed at a daily rate of $30,000 for a firm period of 12 months, with the PNSC holding an option to adjust by plus or minus 15 days.
https://splash247.com/performance-shipping-tanker-heads-to-pakistan-under-year-long-charter/
10. From assumptions to accuracy: Rethinking fuel efficiency in maritime shipping. The maritime sector’s longstanding reliance on Specific Fuel Oil Consumption (SFOC) and manufacturer power curves to measure fuel efficiency is increasingly coming under fire for masking real performance as well as real inefficiencies at sea, according to Rob Mortimer, CEO of Fuelre4m.
https://www.shipmanagementinternational.com/news/from-assumptions-to-accuracy-rethinking-fuel-efficiency-in-maritime-shipping-nbsp