InterManager Daily News 25.08.2024.

1. How inventory management got back on the shipping industry agenda. Global shipping markets are booming as a combination of market drivers and geopolitics conspires to push the maritime industry to the limits of its operational capacity.

Trade lane disruption, vessel re-routing, increased safety risks and port congestion are focussing minds on efficiency, even as near-term earnings remain strong.
https://cyprusshippingnews.com/2024/08/23/how-inventory-management-got-back-on-the-shipping-industry-agenda/

2. Oil tanker Sounion ‘poses environmental risk’ after Red Sea attack. A Greek-flagged oil tanker carrying 150,000 tonnes of crude that was evacuated by its crew after being attacked in the Red Sea now poses an environmental hazard, the EU’s Red Sea naval mission “Aspides” said on Thursday.

Sounion was targeted on Wednesday by multiple projectiles off Yemen’s port city of Hodeidah, where the Iran-aligned Houthis have been attacking ships in solidarity with Palestinians in the war between Israel and Hamas in Gaza.
https://cyprusshippingnews.com/2024/08/23/oil-tanker-sounion-poses-environmental-risk-after-red-sea-attack/

3. Gearbulk expands its newbuilding program and orders two additional Pulpmax vessels. These units will be sister vessels to Pulpmax no. 1-4 ordered earlier this year, and will be built in the same shipyard, CSSC Huangpu Wenchong Longxue in Guangzhou, China. The vessels will be delivered to Gearbulk in October 2028 and January 2029.

The technical specifications and capacity, including enhanced cargo crane capacity of 2×75 metric tons and 2x 120 and tween decks, will be the same as no. 1-4.
https://cyprusshippingnews.com/2024/08/23/gearbulk-expands-its-newbuilding-program-and-orders-two-additional-pulpmax-vessels/

4. The Panama Canal Celebrates 110 Years of Trust and Progress. The interoceanic route celebrates its anniversary, reaffirming its commitment to Panamanians and offering its clients 50 feet of draft and 36 daily transits.

The Panama Canal commemorates 110 years of operations and reaffirms its commitment to the country by guaranteeing the availability of water to supply the population, while at the same time offering its clients 50 feet of draft for vessels and the capacity for 36 daily transits.
https://cyprusshippingnews.com/2024/08/23/the-panama-canal-celebrates-110-years-of-trust-and-progress/

5. TT warns container seals are being ignored to the detriment of cargo security. Though not a robust deterrent to determined thieves the humble seal plays a central role in identifying location, method and often perpetrators of cargo theft. Freight insurance specialist TT Club argues for greater emphasis on the container seal as part of a stronger security culture across the supply chain.
https://cyprusshippingnews.com/2024/08/23/tt-warns-container-seals-are-being-ignored-to-the-detriment-of-cargo-security/

6. Ottawa moves fast to end Canadian rail shutdown. The Canadian rail strike ended yesterday some 18 hours after it started as authorities moved rapidly to avert an economic disaster. Canada’s two biggest railways shut down yesterday after a midnight deadline passed without an agreement over pay conditions.
https://splash247.com/ottawa-moves-fast-to-end-canadian-rail-shutdown/

The Sounion suezmax, badly damaged and abandoned following multiple attacks by the Houthis on Wednesday, risks spilling four times as much oil as the Exxon Valdez, arguably tanker shipping’s most famous casualty.  
https://splash247.com/abandoned-suezmax-off-yemen-risks-becoming-fifth-largest-tanker-spill-in-history/

8. Shipbuilding economics do not work in America’s favour. For an international traded commercial shipbuilding operation to work with ships built in the US, the price and delivery time will certainly have to come down drastically to match the fast-track building cycles that the Asian shipyards can meet.
https://splash247.com/shipbuilding-economics-do-not-work-in-americas-favour/

9. World’s First Commercial Ammonia-Fueled Tugboat Launches in Tokyo Bay. INYK and IHI Power Systems, in collaboration ClassNK, have completed the world’s first ammonia-fueled vessel for commercial use. The tugboat, named Sakigake, was unveiled on on Friday and is set to begin operations in Tokyo Bay for a three-month demonstration period.
https://gcaptain.com/worlds-first-commercial-ammonia-fueled-tugboat-launches-in-tokyo-bay/

The Vadhvan port will be one of the top 10 container-handling ports globally once it is constructed, Sarbananda Sonowal, minister of ports, shipping, and waterways (MoPSW), said here today at the launch of the Vadhvan Skilling Program’s WhatsApp chatbot developed by the Jawaharlal Nehru Port Authority (JNPA).
https://www.shippingtribune.com/news/shipping/Vadhvan+port+to+rank+among+top+10+global+container+ports%2C+says+Sonowal