DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2023– 267

Number 267 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Friday 22-09-2023
News reports received from readers and Internet News articles copied from various news sites & Social Media

The Westerschelde foot/bicycle ferry PRINSES MAXIMA arriving from Vlissingen at the
ferry terminal in Breskens Photo : Lourens Visser www.navcom.org (c)

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The bulker AMIS VICTORY in Rio Grande Photo : Marcelo Vieira (c)

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The new Panamanian flag LPG tanker GAS ACE arriving at Lyttelton NZ on September 20 from Botany Bay.
Photo: Nick Tolerton ©

Container Tonnage Could Enter the Ship Recycling

Market

The container vessel "BG ONYX" navigating the river Oude Maas and passing the Spijkenisserbrug on her way to
Moerdijk whilst arriving from Dublin photo : Cees van der Kooij ©

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The ship recycling market is in a state of flux, as more offers are being presented to ship owners compared to the
previous weeks. However, many yards are still absent from the market, in anticipation of more tonnage, most notably
container ships, being available for demolition. In its latest weekly report, shipbroker Clarkson Platou Hellas said that
“despite slight falls this week with the local steel markets in India, offers from buyers for any available tonnage has seen
an increase this week, most likely as recyclers look to fill their yards with any available tonnage. The sparce tonnage
currently being experienced is certainly aiding these improvements as the domestic recyclers become frustrated, having
to look out over their empty yards. There have been reports that some of the recyclers remain happy to sit on the
sidelines, believing the speculation of a large volume of container tonnage ready to hit their destination, however, whilst
yes, we will see these volumes increase, analysts suggest there is still much time, even next year, until the change in
pattern is witnessed and container operators offload their aging tonnage in abundance”, the shipbroker said.
“At a general meeting arranged by the Ship Recycling Industries Association of India (SRIA) recently, a new resolution
was collectively approved which stated that ship recyclers must not accept any new MOA terms by which “huge amount
of money can be claimed by sellers against the recycler for any accidents/defamation and other situations including loss
of reputation during operational procedure.”. And following this, the ‘SRIA’ will forward, at some time, their own standard
contract terms on which they require their members to use. How this will operate remains to be seen but it does appear
the domestic recyclers are looking for a situation to minimise their own risks. Meantime, looking to their counterparts,
Bangladesh remains quiet with no real purchasing interest at this current time, and Pakistan, who have shown renewed
activity over recent weeks, may slow down their purchasing campaign as the majority of recyclers who had Letter of
Credit facilities appear to have tonnage in hand and will have to wait before bidding further as the availability of U.S.
Dollars in the country remains limited”, Clarkson Platou Hellas concluded.
In a separate note, GMS, the world’s leading cash buyer of ships, said that “bullish buyers in both, the Indian and
Pakistani markets, continue to push on for another week as they manage to secure some of the recently recorded, high-
priced sales from both – the dry bulk and container sectors. Some of the recent container sales (in particular) have
caught the eyes of many in the industry, especially as levels gradually edge back up into the high USD 500s/LDT
(approaching USD 600/LDT), thereby providing prospective Owners of vintage units, food for thought about the potential
future of their aging beauties. India certainly has been the chief driver behind much of the recent activity, as domestic
steel plate prices once again posted decent gains of about USD 13/LDT towards the end of the week. Moreover, following
the conclusion of a successful G20 summit – in addition to a reported firming of international steel rates to the tune of
about 2% – the overall business outlook across the country remains good – at least for the domestic Ship Recycling
sector.

Source: GMS
Pakistan is also not too far behind, with decent levels being displayed on available dry bulk units and even as L/C
approvals once again start to gain some traction, especially after almost a year of being on the sidelines. Bangladesh
remains completely out of the buying, with levels down and L/C & bank approvals once again hard to come by. A decent
number of well-priced Chinese-owned vessels have also been delivered and beached over the summer / monsoon
months, but there seems little chance of any further deals being done below USD 500/LDT, as competing markets inch
on higher. Finally, Turkey seems to have entered into an over-extended holiday with virtually no activity being reported,
and other than negative fundamentals (Lira and steel plate prices), the market has had virtually no movements being
recorded for months on end. Overall, the supply of tonnage remains decent going into sub-continent markets during Q4
of the year, with predominantly aging handy / Panamax sized dry bulk units & Feeder containers heading to the various
recycling locations, in what will hopefully be a busy end to the year”, GMS concluded.
Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Exploring all options to keep decarbonization on

course
With IMO targets becoming more ambitious, DNV’s latest Maritime Forecast to 2050 explores how shipping can reach its
decarbonization goals. With an expected shortfall of carbon-neutral fuels, the maritime industry needs to explore all
decarbonization options to achieve a 20% reduction in greenhouse gas emissions by 2030.
This is a decisive decade for shipping decarbonization with the transition accelerating through new policies in the EU and
the IMO’s ambitious decarbonization strategy aiming for net-zero by 2050. Maritime needs insight into and evidence of
designs, fuels and fuel technologies that will be effective, available and affordable,” Eirik Ovrum, Maritime Principal
Consultant at DNV and lead author of Maritime Forecast to 2050 says. “We look in-depth at technologies that can
alleviate the coming demand for carbon-neutral fuels and offer a vision of how to stay on course for compliance with
emission-reduction goals.”

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The RHOON-C navigating the Dutch coastal waters

Photo : Flying Focus Aerial Photography www.flyingfocus.nl ©
Shipping’s energy transition already underway
The maritime energy transition is picking up. In mid-2022, a third of tonnage on order could use LNG, LPG or methanol in
dual-fuel engines. In mid-2023, that had risen to half. By tonnage, 6.5% of ships operating today can run on alternative
fuels, compared with 5.5% last year.
However, uptake of methanol and LPG, and the first hydrogen-fuelled newbuilds, are now appearing in the data.
Ammonia-fuelled ships are being demonstrated; none have yet been ordered but that is expected to happen soon. “The
trend is encouraging, but still, far too few of these ships (6.5%) actually run on low carbon or carbon-neutral fuels to
have a real impact. Shipping is also facing headwinds if we can’t compete with sectors like aviation for the same fuels for
decarbonization or with chemical industries using, for example, ammonia, as a feedstock,” warns Ovrum.
Will carbon-neutral fuels be available and affordable?
With global, regional and national GHG-reduction targets becoming more ambitious and the maritime transition speeding
up, the industry wonders if enough carbon-neutral fuels will be available when and where needed at economic prices. To
estimate supply trends, DNV now compiles and maintains a comprehensive global carbon-neutral- fuel-production project
database.Using this, Maritime Forecast to 2050 estimates that the probable global cross-sector production volume of
carbon-neutral fuels in 2030 will be 44–62 million tonnes of oil equivalent (Mtoe). It predicts that shipping would need a
huge 30–40% of this to meet expected demand of 17 Mtoe per year by then under the IMO’s current GHG strategy.
Price and supply uncertainties for carbon-neutral fuels
Based on its supply and demand modelling, Maritime Forecast to 2050 concludes that alternative fuel production must
scale quicker if shipping’s emission-reduction goals are to be met. It adds that while fuel producers must accelerate
plans, they need offtake commitments from fuel buyers. The paper warns that supply uncertainties will lead to fluctuating
prices during the ramp-up.
“Fuel flexibility will thus be key for shipowners during the transition,” Ovrum concludes. “And with carbon-neutral fuels
seemingly destined to be costly and hard-to-source, the industry should explore all decarbonization possibilities.”
Energy-efficiency technologies for shipping
Non-fuel decarbonization possibilities include low-cost options such as speed reduction and route optimization, and
greater efficiency through digitalization.“These are important for shipowners to reach short-term GHG reduction goals,
particularly as the IMO has also strengthened the 2030 and 2040 goals and low-carbon fuel production remains very low.
Reducing energy consumption is critical to reduce emissions and soften the impact of increased energy costs,” Ovrum
explains.Maritime Forecast to 2050 examines in detail the current deployments and results with wind-assisted propulsion
and air lubrication systems, both for reducing fuel consumption. It also reports on the current state and potential future
for using liquefied hydrogen ship fuel, modelling the technology’s sensitivity to hydrogen prices, vessel CAPEX and to
selected carbon-neutral fuel prices.Discussion of the future for Solid Oxide Fuel Cell (SOFC) – generating electricity from
ammonia, LNG, methanol or hydrogen – concludes that ongoing pilot projects could demonstrate the technology’s
operational efficiency within five years.
On-board CCS and nuclear propulsion as alternative decarbonization solutions

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The importance of looking at all technically available options is now indisputable. For example, on-board carbon capture
and storage (CCS) and nuclear propulsion could in theory reduce reliance on renewable electricity, sustainable biomass
and blue ammonia/hydrogen for decarbonization.Maritime Forecast to 2050 evaluates whether either technology could
compete with marine fuel oil, LNG (including carbon-neutral versions), and carbon-neutral ammonia and methanol.
It concludes that under some conditions, both on-board CCS and nuclear are feasible operationally and could be cost-
competitive with other decarbonization fuel strategies. A later Maritime Impact article will explore the finding in detail,
including how these technologies can be cost-competitive.
Impact of well-to-wake requirements
In this vital decade for securing a lower-carbon future for shipping, requirements on life cycle or well-to-wake GHG
emissions are coming. They include FuelEU Maritime from 2025 in the EU and the IMO’s proposed well-to-wake GHG fuel
intensity requirement, which would apply globally.The stated aim is to avoid shipping shifting emissions to other sectors
as it decarbonizes. Maritime Forecast to 2050 calculates that shipping emitted around one billion tonnes of carbon dioxide
equivalent well-to-wake in 2020. A sixth (16%) of it was during fuel extraction, production and distribution.
“Our modelling suggests much lower well-to-wake GHGs if emissions and sustainability requirements succeed in driving
shipping to use carbon-neutral fuels. This can be achieved through fuel production standards and ship-specific emission
requirements,” Ovrum says.
Green shipping corridors demonstrate collaboration in action
Collaboration to identify, define and lower barriers on a manageable scale is another way to accelerate uptake of carbon-
neutral fuels.For example, Maritime Forecast to 2050 outlines an approach for value-chain stakeholders including
governments to create green shipping corridors, based on DNV’s decade-long expertise in Norway’s existing corridors.
“This and other insights in our latest Maritime Forecast to 2050 underline, with relevant research, why the industry
needs a holistic approach to decarbonization. Collaboration and communication between industry stakeholders, public
policymakers and others are essential in such a complex and evolving decision-making environment,” Ovrum concludes.
“And while it pays to consider all decarbonization options, the industry needs further regulatory clarity and
commercialization of new technologies by the end of this decade to reach the goals being set for its decarbonization.”
Source: DNV

Port Authority of New York and New Jersey releases

roadmap to net-zero greenhouse gas emissions by 2050
As Climate Week NYC begins, the Port Authority of New York and New Jersey today released the agency’s Net-Zero
Roadmap, a comprehensive plan comprised of more than 40 actions intended to achieve both its near-term emission
reduction goals and its 2050 goal of net-zero carbon emissions.
The plan paves the way for the agency’s ambitious plans to work with its wide universe of tenants and contractors to
achieve the 2050 goal. The roadmap to net-zero emissions formalizes the historic commitment the Port Authority made in
2021, the first U.S. transportation agency to issue such a pledge. In addition, it brings the Port Authority in line with the
ambitious climate goals set by the Biden-Harris administration and the states of New York and New Jersey.
The agency also announced that it is on track to meet its interim goals of a 35 percent reduction in direct emissions by
2025, and a 50 percent reduction by 2030, undertaking ambitious initiatives from increasingly larger solar power projects
and low-carbon airport terminals to electric Port Authority vehicles, electric shuttle buses and charging ports for
customers. The announcement took place at Newark Liberty International Airport’s historic Building One, which the Port

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Authority announced today will be retrofitted as the first fossil fuel-free building in the agency and intended to be the
prototype for the rollout across the agency’s building stock The Port Authority of New York and New Jersey is a bi-state
agency that builds, operates, and maintains many of the most important transportation and trade infrastructure assets in
the US. Source : PortNews

Baltic index logs best day in almost two months on

capesize demand

The XIN HAI TONG 28 handling cargo in Rio Grande Photo : Marcelo Vieira ©
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, on Tuesday
posted its biggest single-day gain since late July, propelled by a jump in the capesize segment. The overall index, which
factors in rates for capesize, panamax and supramax shipping vessels, rose 87 points, or 6.1%, to 1,526.

20.09.23 ‘KM WEIPA’ a Handy sized geared bulk carrier, seen alongside Corporation Quay, Sunderland
discharging Steel slabs. Photo : Patrick McCardle ©
The capesize index added 193 points, or 11.03%, to 1,942, its highest level since June 26. Average daily earnings for
capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal,

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increased $1,600 to $16,103.“In the Pacific, overall activity moved on a good pace, with coal demand providing fair
support, especially at the early part of the week,” shipbroker Allied wrote in a weekly note, referring to the capesize
segment. “In the Atlantic, we noticed a tighter tonnage availability, that helped build better momentum in terms of rates
in most areas.” The panamax index rose 27 points, or 1.6%, to 1,693, its highest in more than five months.Average daily
earnings for panamax vessels, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $243 to
$15,238.

The bulker PENELOPE I assisted by the port towage Amsterdam operated tugs VENUS & LYNX in the port of
Ijmuiden Photo : Wim Castricum ©
Iron ore futures extended declines as mounting domestic supply and ongoing demand concerns amid a lingering property
slump dampened investor sentiment. Among smaller vessels, the supramax index added 46 points, or 3.7%, to 1,286. A
cargo vessel carrying grain has departed Ukrainian Black Sea port of Chornomorsk for the first time since the grain deal
collapsed. Source: Reuters (Reporting by Daksh Grover in Bengaluru; Editing by Shilpi Majumdar)

The MAERSK BARRY passing Vlissingen from Terneuzen bound for Montoir (Fr)
Photo : Lourens Visser www.navcom.org (c)

X4 PRESS RELEASES FROM THE INTERNATIONAL

UNION OF MARINE INSURANCE (IUMI)
CONFERENCE
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Don’t get caught out by fraud and never let crime pay, says IUMI
A recent, high-profile fraud case has highlighted a number of issues that marine insurers should recognise and learn from
if they are to continue to provide a comprehensive service for their assureds and retain their viability as commercial
businesses. This was the topic at today’s Legal & Liability Workshop as part of IUMI’s (International Union of Marine
Insurance) annual conference in Edinburgh.
The workshop drew on the extremely topical and complex fraud case involving the vessel BRILLANTE VIRTUOSO and
took the opportunity to debate a number of reminders that marine insurers would be wise to consider.
Background
In July 2011, the Suezmax tanker BRILLANTE VIRTUOSO (149,601 DWT) was fully laden with a cargo of fuel oil worth
around US$100 million and en route Ukraine to China. It was reported that the vessel was under attack by Somali pirates
off Aden who (it was said) had fired rocket-propelled grenades into the vessel causing a fire in the accommodation block.
The crew were rescued by an American warship and, after a few days, the resurgent fire was extinguished and the vessel
towed to safety.
The warship found no evidence of pirates and a subsequent investigation by a surveyor (Captain David Mockett)
acting on the instructions of the hull insurer found no signs of a rocket attack. Tragically, he was killed in Yemen by a car
bomb a few days later.
Although the vessel was purchased for US$46 million, its value in June 2011 was only US$13.5 million but it had been
insured for US$77 million. The hull war insurers, suspecting foul play, fought a lengthy court case and, in 2019, the High
Court in England ruled that an attempted insurance fraud had, indeed, taken place and implicated the vessel owner, the
master & chief engineer, and Poseidon, the Aden-based salvor in deliberately setting and fueling the fire on the vessel.
The judgment can be found here - https://www.bailii.org/ew/cases/EWHC/Comm/2019/2599.html.
Whilst the hull war insurers were not required to pay-out, the shipowner’s bank had taken out Mortgagees Interest
Insurance (MII) which provides back-up cover to the bank should they lose the benefit of cover provided by the hull
policy. Additionally, this MII cover included a clause preventing the MI insurers from suing the shipowner to recover the
loss even though the shipowner was found guilty of fraud.
Charles Fernandez, Chair of IUMI’s Legal & Liability Committee said: “Tragically, the surveyor who first attended the
vessel, Captain David Mockett, lost his life and that should not be forgotten. The ship was carrying a large cargo of fuel
oil which, if spilt, would have caused a significant environmental disaster. Added to this, although two ship’s officers were
implicated, the remainder of the crew were innocent but the onboard fire had the potential to endanger their lives. The
key lesson to learn is that underwriters must challenge suspected cases of fraud at the earliest opportunity to ensure
wrongdoings are not perpetuated or repeated. By doing this, they might protect lives, livelihoods, the environment and
their assureds”. “A sad reflection from this case is to realise that for some, crime does pay. The insurance community
paid-out around US$100million. The bank was reimbursed. A significant salvage claim was paid even though Poseidon,
one of the sub-contractors was subsequently implicated in the fraud. The shipowner’s loan was also paid-off. It was the
insurers who picked-up the bill even though the High Court had ruled that a major insurance fraud had taken place.
Individual insurers should learn from this case and take steps to protect themselves, and others, from this sort of crime.”
The conference workshop highlighted a number of issues that would benefit from further investigation:
· The practice of insuring vessels for more than they are worth. If the Brillante Virtuoso had been insured for
US$13.5million and not US$77million then there would not have been the incentive to commit fraud.
· There was no valid reason for the Mortgagees Interest Insurance to contain a clause that prevented the MI
insurers from claiming against the owner when the owner’s fraud had been established. Although this clause is often
included to protect the bank’s relationship with its client, MI insurers should resist it.
· Like other markets, hull insurers strive to provide an effective and prompt claims service but complex claims need
to be fully investigated.
· Underwriters must know who they are insuring and be certain to look beyond shell companies or similar.
· The surveyor who was sadly killed was appointed by the insurers. As a community, insurers should offer support to
the family of anyone they appoint who is injured or killed while working on their behalf.
Charles Fernandez concludes: “I’m extremely pleased that our conference has been able to highlight the many issues this
complex fraud has raised in the hope that we can encourage further discussion and, hopefully, bring about some much
needed and meaningful change to how certain aspects of marine underwriting is conducted.”

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HAL’s ZUIDERDAM In Qaqortoq at Greenland. At departure the ZUIDERDAM passed an Iceberg which
collapsed/disintegrated while passing click at the photo below to see the movie !

Photo’s + video Ernst Lohmann www.ernstlohmann.nl (c)

Newsclippings 265. PP 7. Aberdeen South Harbour.

No shelter and Winter approaching.
By : Douglas Bathgate
Dear newsclippings, The new harbour at Aberdeen South is a boon to shipping in north Scotland. However, for security
reasons - and job creation - all vessel crews joining and paying off, are required to be bused from vessel gangway to
harbour gates. If travelling independently from the harbour gates and awaiting bus/taxi/buddy there is absolutely
nowhere to shelter. The area can be seen in the top left of the photo that accompanies the article in News 265, pp7. The
rain lashes in from the North Sea all the time. Snow soon also. If there is any way Newsclippings can encourage our
sailors community to e-mail the Aberdeen Harbour board to ask whe a shelter will be provided, the contacts page for the
harbour board is appended here : https://www.portofaberdeen.co.uk/contact-us
Source : Doug Bathgate Tel 0131 661 8293 or Mobi 07769185444 .... remember this won't work while I am at sea ! If
you don't receive a reply use WhatsApp. It works offshore.

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The HAVILA HEROY “riding high” whilst navigating the Dutch coastal waters
Photo : Flying Focus Aerial Photography www.flyingfocus.nl ©

LNG crucial to German energy strategy, ministry

official says
Germany must strengthen rather than abandon the liquefied natural gas (LNG) capability built last year to retain energy
diversity in the face of continued fragility of supply, a senior economy ministry official told an industry event on Tuesday.
Three floating storage and reception units (FSRUs) at the Wilhelmshaven, Brunsbuettel and Lubmin terminals served to
attract much-needed LNG shipments to supplement pipeline deliveries from the rest of Europe after Russia turned off the
gas taps amid political hostilities around the war in Ukraine.Berlin has since had to defend their continued use and full
utilisation even as gas price declines and lower demand highlight the risk of the facilties becoming stranded fossil fuel
investments unsuitable for a carbon-free future."It is not easy to make that clear when the feeling of a crisis is no longer
existent," Philipp Steinberg, head of the economic stabilisation and energy security unit in the ministry, said at a
Handelsblatt newspaper industry conference."But we are not where we should be with the terminals," he added, referring
to unfilled capacity at two of the FSRUs. Steinberg emphasised that the terminals are considered an integral part of
Germany's diversified energy strategy"It is self-understood that we also pursue energy efficiency, expanding renewables,
diversification, expansion of hydrogen economies," Steinberg said. Once the LNG terminals are no longer needed, they
can be sent to other destinations, hopefully at a profit, he added. Natural gas is expected to continue to play a

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transitional role in electricity generation as a post-nuclear Germany also aims to abandon coal while meeting increasing
power demand for electrification throughout industry, from heat pumps to cars.
Source : Reuters Reporting by Vera Eckert and Riham Alkousaa Editing by David Goodman

ROTTERDAM/SINGAPORE GREEN & DIGITAL SHIPPING

CORRIDOR PARTNERS AIMING FOR 20-30% EMISSIONS
REDUCTIONS BY 2030
Written by Ian Taylor

The Maritime and Port Authority of Singapore (MPA), the Port of Rotterdam (PoR) and 20 partners in the Green & Digital
Shipping Corridor have agreed to work together to reduce 20% to 30% of emissions from international shipping by 2030.
The agreement was reached at the third Green Corridor workshop held this week in Rotterdam As previously reported,
the Green & Digital Shipping Corridor was established in August 2022 with a view to promoting zero and near-zero
emissions shipping on the Rotterdam-Singapore route, with the ultimate aim to reach net-zero emissions in 2050. Their
target now is to reduce GHG emissions from the Rotterdam/Singapore shipping corridor ‘by 20%, striving for 30%, by
2030, compared to 2022’.
In a statement issued 20 September, the MPA noted that a modelling study led by the Mærsk Mc-Kinney Møller Center
for Zero-Carbon Shipping, one of the corridor partners for the project, has ‘explored multiple alternative fuels across a
variety of zero and near-zero emission pathways, including synthetic and bio-variants of methanol, ammonia and LNG’. In
addition, said the MPA: ‘Hydrogen is one other alternative fuel pathway to be looked at.’ ‘Efforts are underway to
aggregate demand and supply to reduce cost gap towards adoption of sustainable fuels,’ added the MPA. ‘Working
groups have been established to look into the deployment of all of these fuels on the trade lane, spanning across
demand and supply of fuel, standards, safety procedures, financing and regulations.’
In addition, Singapore and Rotterdam have jointly assessed the readiness of both ports and steps ahead such as
adopting similar bunkering standards and safety frameworks to accelerate the adoption of zero and near-zero emission
fuels on this major trade route.The MPA reported that: ‘The partners believe that the corridor’s approach, supported by
the strong industry coalition will provide greater certainty in demand and help scale-up production of zero and near-zero
emission fuels. This will help to close the cost gap and encourage even wider adoption of such fuels.’In addition to the
MPA and the Port of Rotterdam, the partners in the Rotterdam-Singapore Green & Digital Shipping Corridor include: A.P.
Moller Maersk, bp, the Centre for Maritime Studies of the National University of Singapore, Citi, Clifford Capital, CMA
CGM, Digital Container Shipping Association, the Global Centre for Maritime Decarbonisation, the Global Maritime Forum,
the Mærsk Mc-Kinney Møller Center for Zero-Carbon Shipping, the Methanol Institute, MSC, Nanyang Technological
University Maritime Energy and Sustainable Development Centre of Excellence, Ocean Network Express, PSA
International, RMI , SEA-LNG, Shell, the University of Oxford, and Yara Clean Ammonia. Source : bunkerspot

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ClassNK renewed the RIT-certification of Global Drone Inspection, allowing the company to use drone technology for:
- Close up visual surveys
- Thickness measurements in conjuction with ClassNK approved TM-suppliers
For inquiries please check our website: https://lnkd.in/eNf8PhpS and/or mail to [email protected]

SVITZER APPOINTS MATTIAS HELLSTROM AS NEW

GLOBAL CHIEF COMMERCIAL OFFICER
Former Svitzer Europe CCO joins company’s global C-suite
Svitzer, a leading global towage provider and part of A.P. Moller-Maersk, has announced the appointment of Mattias
Hellstrom as its new Global Chief Commercial Officer (CCO), effective from 1 October. Mattias makes the move to
Svitzer’s global business after three years as CCO of Svitzer Europe, and replaces outgoing Global CCO Videlina
Georgieva, who was recently appointed Managing Director of Svitzer Australia. As CCO of Svitzer Europe, Mattias has
played a key role in the organisation’s drive to become more customer centric, data driven and focused on quality service
delivery. He will transfer this experience into his new role as Global CCO, and as part of Svitzer’s leadership team
continue developing and driving the company’s global commercial strategy.
Prior to his role as CCO of Svitzer Europe, Mattias was Managing Director of Svitzer Scandinavia for nearly seven years.
Mattias has also held management roles at Mediterranean Shipping Company (MSC) and A.P. Moller – Maersk. In all,
Mattias has more than 25 years of shipping industry experience to draw upon in the role as Global CCO. Speaking on

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the appointment, Kasper Nilaus, CEO, Svitzer, said: “I am delighted to be able to appoint a strong internal candidate for
the extremely important Global CCO position at Svitzer. With his first-hand experience from Svitzer Europe, Mattias brings
a deep knowledge of our business and customers. “Mattias’ sincere passion for our customers and focus on premium
service delivery will be critical to ensuring our ongoing growth and strength in the market. I look very much forward to
working more closely with Mattias and seeing him thrive in his new role.” Mattias Hellstrom, Svitzer’s new Global CCO,
added: “I am honoured to take up the position as Svitzer’s Global CCO at such an important time for our business.
Building on the foundation laid by my predecessor, I will do my utmost to ensure that we continue to deliver a world-
class service. I am excited to be able to work with colleagues from around the world to continue developing our ability to
listen deeply to our customers, and use the knowledge gained to meet their current and future marine services needs.”
Svitzer has already initiated the process of recruiting a replacement for Mattias Hellstrom in the role as Svitzer Europe
CCO. Source :

The REM SUPPLYER moored in Aberdeen Photo : Capt Wouter van Beek Master Geo Ranger (c)

IFAN SELLS THE OSV RELUME

The International Foundation for Aids to Navigation (IFAN) is pleased to confirm the sale of its offshore support vessel
(OSV), the OSV RELUME OSV RELUME is a 66-berth International Maritime Organization (IMO) Class 2 Dynamic
Positioning (DP2) vessel and Special Purpose Ship (SPS), equipped to support the latest marine survey technology. She
has played an important role in supporting the work of the Middle East Navigation Aids Service (MENAS), a subsidiary of
IFAN, in the Middle East Gulf. She was commissioned in the Netherlands and entered service as a light tender serving the
maritime community and gained an enviable reputation as a combined offshore/multi-role OSV. During her time with

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IFAN/MENAS, she has been employed on both short and long-term contracts in the oil and gas industry and the emerging
renewables sector.

The RELUME arriving in Ijmuiden Photo : Jan Plug ©

Acknowledging the important service undertaken by the vessel over the past 19 years, Peter Stanley, CEO of IFAN, said
the sale was necessary because IFAN wanted to concentrate on its two core activities, namely the provision of Aids to
Navigation (AtoN) services in the Middle East Gulf through its MENAS branch office in Bahrain and the support of
international projects for the enhancement of safety through the provision of aids to navigation. “The Relume was
originally built in 2004 for the support of AtoN work in the Middle East Gulf but due to the rapid advancement of AtoN
technology, it quickly became underutilised and was re-positioned to make a positive contribution to IFAN through
commercial trading. As has been reported in the annual accounts, IFAN chose to follow this strategy and keep the option
of further AtoN work open but now the market conditions are right to realise a reasonable value seen by an alternative
owner. “She has built up an enviable reputation for operational reliability in the NW Europe Oil & Gas/Renewables sector
and this is purely down to the quality of the asset and the significant experience of the long-standing crew. We would like
to acknowledge the fine service seen from the crew and technical support staff over the past 19 years and wish the new
owners every success with the RELUME in the new phase of her career,” he said.

Ports of Rotterdam and Duisburg set to develop

hydrogen networks
By : Michele Labrut
The Ports of Duisburg (Duisport) and Rotterdam have launched a new feasibility study as the next phase in their
collaboration to establish hydrogen networks in EuropeA large rise in demand for low-carbon hydrogen of more than 3
million tonnes annually is predicted in North Rhine-Westphalia until 2045. Methanol consumption is also predicted to rise
dramatically, reaching more than 2.5 million tonnes per year. The Port of Duisport and the Port of Rotterdam are working
with governmental and corporate entities to match supply and demand and speed up investment and subsidy decision-
making.The ports are supported by the hydrogen initiative Hy.Region.Rhein.Ruhr e.V., co-founded by Duisport, which the
Port of Rotterdam has now also joined. OCI Global runs the Port of Rotterdam’s only ammonia import terminal, which it is
upgrading to increase its throughput capacity in anticipation of rising demand. OCI also operates a methanol import
terminal and, earlier this year, the company announced two new green methanol partnerships in the Port of Rotterdam:

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with Unibarge to develop the world’s first dual-fuelled bunker barge powered by OCI HyFuels green methanol, and with
X-Press Feeder Lines to supply green methanol for their newbuild methanol dual-fuelled container feederships.Both
projects are scheduled to be deployed next year. Last June, OCI said it was fuelling the first ever green methanol-
powered containership in partnership with Maersk. Source : Seatrade Maritime News

The Danish-flagged offshore supply vessel NOTUS passed Kiel Sep 20th on her way from Bremerhaven to Frederikshavn.
She is curently fitted with an SMST Telescopic Access Bridge which can be used both for transfers of personell and for
cargo operations as a small crane. NOTUS was constructed in 1999 by three Dutch yards, i.e. "De Hoop" in Heusden built
the hull together with Wilton-Fijenoord in Schiedam which was thecompleted as the pipe carrier STRIL SUPPLIER by
the IJsselwerf in Capellea/d Ijssel. Photo : Martin Lochte-Holtgreven (c)

RCC ASIA passing Breskens inbound for Antwerp. Photo : Lourens Visser www.navcom.org (c)
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NTS splashes Himalaya Shipping’s LNG dual-fuel

bulker duo
by Fatima Bahtić

Chinese shipbuilder New Times Shipbuilding (NTS) has held a launching ceremony for two liquified natural gas (LNG)
dual-fuel bulk carriers owned by Himalaya Shipping.As informed, the launching ceremony for the two 210,000 dwt
vessels took place on 15 September. Himalaya Shipping has ordered twelve 210,000 dwt dual-fuel bulkers from NTS. The
shipbuilder now launched the seventh and eight vessel in this series.The vessels were named MOUNT BANDIERA and
MOUNT HUA, according to NTS.

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This type of 210,000 -ton dual-fuel powered bulk carrier has an overall length of 299.95 meters, a length between two
pillars of 294.75 meters, a molded width of 50.00 meters, a molded depth of 25.20 meters, a design draft of 18.40
meters, and a structural draft of 18.48 meters. Himalaya expects that, by using LNG as a fuel, emission reduction will be
achieved and the vessels will comply with the latest environmental requirements introduced by the International Maritime
Organisation (IMO).To remind, last month, NTS delivered sixth of twelve 210,000 dwt Newcastlemax LNG dual-fuel
newbuildings to Himalaya. According to the shipowner, MOUNT NEBLINA will now commence a minimum 24-month
time charter with an evergreen structure thereafter and will earn an index-linked rate. The ships will be fitted with
scrubbers allowing them to run on high-sulfur fuel oil as well as LNG and low-sulfur fuel oil with the design that will also
allow for future conversion to next-generation fuels They will also feature ABB’s shaft generators with a power-take-off
(PTO) solution, comprising new drive systems and permanent magnet technology.The ships will run on MAN ME-GI high-
pressure LNG dual-fuel engine, which in combination with in-line shaft generator the concept offers low methane slip.
Source : .offshore-energy.biz

China tests ballast water from Japanese ships for

radioactivity
CHINESE ports have apparently begun testing the ballast water of Japanese ships for radioactive material, after the
Japanese government began releasing radioactive water from the quake-damaged Fukushima No 1 Nuclear Power Plant
in late August. Ships have been informed that if too much radioactive material is found in their ballast water, they will be
denied entry into China. However, no vessels have been turned away yet, reports Container News of Greece. According
to Kyodo News Agency, maritime safety administration officials in the ports of Tianjin and Shandong province, home to
Qingdao, Weihai, and Rizhao ports, have been collecting and testing ballast water samples from Japanese cargo ships.
On August 24, the Japanese government approved the controversial release of more than 1 million tonnes of the
radioactive water, leading to backlash in China and South Korea. The plan was also ratified by the International Atomic
Energy Agency, which said there will be "negligible" impact on people and the environment. The Japanese government
asserts that the water has been treated to reduce tritium levels to less than one-40th of the concentration permitted
under national safety standards before being released into the sea. The Fukushima plant was damaged during the Great
East Japan earthquake on March 11, 2011. Ballast water is water that large ships take in from the sea or rivers when
they are not carrying cargo. It is used to maintain the balance of the ship and prevent it from rolling over. The ballast
water is discharged overboard when loading cargo.

BC FERRIES SPIRIT OF VANCOUVER ISLAND at Tsawwassen BC sept 17 2023

photo : Robert Etchell (c) CLICK at the photo !

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The seaport of Kiel reached the mark of one million

cruise passengers in one season for the first time
At the weekend, the seaport of Kiel reached the mark of one million cruise passengers in one season for the first time.
On Saturday, the MSC EURIBIA, AIDANOVA and EXCELLENCE CORAL called at the PORT OF KIEL, and on Sunday
the AIDABELLA and AIDALUNA visited Ostseekai, according to the company's release.
Kiel had already seen a positive trend in the cruise business in recent years, which had been put on hold by the slump
during the Corona pandemic. In addition to the strong presence of the major European cruise lines AIDA, Costa, MSC and
TUI, in recent years North American shipping companies, such as Holland America Line, Norwegian Cruise Line and
Disney Cruise Line, have increasingly chosen Kiel as a cruise destination in the Baltic Sea region for their fleets. As
recently as 2022, Kiel's seaport recorded its busiest season ever with 243 calls and 835,000 passengers. For the current
season 2023, 222 cruise calls have been announced. Source : PortNews

The STRAITSVIEW navigating the Seine near Le Trait Photo : Nonkes (c)

Tentative signs of a bounce back in global trade:

Maersk
THERE are tentative signs of a bounce back in global trade, according to the CEO of shipping titan Maersk, Vincent
Clerc."Barring any negative surprises, we would hope for a slow pickup as we get into 2024, a pickup that will not be a
boom like what we have known in the past few years, but certainly a demand that is a bit more in line with what we see
in terms of consumption, and not so much an inventory correction," Mr Clerc told CNBC's Silvia Amaro. Consumers in the
US and Europe have been key drivers in this demand uptick, Mr Clerc said, and those markets have continued to
"surprise on the upside." In 2022, the shipping firm warned of weak demand as warehouses filled up with unwanted
goods, with consumer confidence stuttering and supply chains congested. The upcoming pickup would be fuelled by
consumption, he said, rather than the "inventory correction" which has featured heavily during 2023. Emerging markets
are proving resilient, despite the difficult economic climate, Mr Clerc said, particularly in the cases of India, Latin America

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and Africa North America is also looking strong for the next year, despite having faltered along with many other major
economies due to macroeconomic factors, including Russia's full-scale invasion of Ukraine and tensions with China. "As
this starts to normalize and works itself out, we will see a rebound in demand," Mr Clerc said. "I would say emerging
markets and North America are certainly the points where we see the most upside potential," he added.

ABS issues AIP for an offshore hydrogen/ammonia

production platform from KRISO
An offshore hydrogen and ammonia production platform design from the Korea Research Institute of Ships & Ocean
Engineering (KRISO) has received approval in principle (AIP) from ABS.
The design developed by KRISO produces green hydrogen using electricity generated by a wind farm. Among the
features, the design consists of a desalination system that desalinates seawater and turns it into clean water, an
electrolysis system that produces hydrogen by electrolyzing water, a compression system that pressurizes the produced
hydrogen, a nitrogen generation system that separates nitrogen from the air, and an ammonia synthesis system that
produces ammonia by reaction of hydrogen. The ABS AIP focused on the safety and feasibility of the concept. Source :
PortNews

NAVY NEWS

early morning the T-AKR -112 USNS CAPE TEXAS assisted by Seabulk lastest high tech tug SPARTAN transiting the
Sabine Neches ship channel Photo : Bas Coppes -Plan B marine solutions Llc (c)

Southeast Asia nations hold first joint navy drills

near disputed South China Sea
By : NINIEK KARMINI

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 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2023– 267

The Association of Southeast Asian Nations began its first joint naval exercise on Tuesday at a time when several
member countries are responding more strongly to increasing Chinese assertiveness in the area. The non-combat drills,
named ASEAN Solidarity Exercise, include joint maritime patrol operations, search and rescue operations, and
humanitarian and disaster relief, Indonesian military chief Adm. Yudo Margono said. He said the five-day exercise in
Indonesia's Natuna waters aims to boost military ties among the ASEAN nations and enhance interoperability. The drills
also involve civilian groups involved in humanitarian relief and disaster prevention.ASEAN nations have taken part in
naval exercises before with other countries — including both the United States and China — but this week’s drills are the
first involving just the bloc and are being read by many as a signal to China. China’s “nine-dash line,” which it uses to
demarcate its claim to most of the South China Sea, has brought it into tense standoffs with rival claimants Vietnam,
Malaysia, Brunei and the Philippines, with Chinese fishing boats and military vessels becoming more aggressive in the
disputed waters.The line also overlaps with a section of Indonesia’s exclusive economic zone extending from the Natuna
Islands. Margono initially said the exercises would take place in the North Natuna Sea at the edge of the South China
Sea, a fault line in the rivalry between the U.S. and China, following meetings of ASEAN defense officials in Bali in June.
However, Indonesia, which holds the rotating chair of ASEAN this year, decided to move the drills to the South Natuna
Islands, away from the disputed area, apparently to avoid any reaction from Beijing. China and ASEAN signed a
nonbinding 2002 accord that called on rival claimant nations to avoid aggressive actions that could spark armed conflicts,
including the occupation of barren islets and reefs, but violations have persisted. China has come under intense criticism
for its militarization of the strategic South China Sea but says it has the right to build on its territories and defend them at
all costs. “Those who carry out any exploration or activities in that area must not violate state territory,” Margono said
after an opening ceremony for the exercise attended by ASEAN military leaders on Batam island next to Singapore. “That
has been clearly regulated by the United Nations Convention on the Law of the Sea.” Asked whether ASEAN was sending
a stronger message against China’s competing territorial claims in the South China Sea, Margono replied, "We have had a
firm stance.”He told reporters that ASEAN has agreed to hold military exercises annually. In the future, they will be
expanded to full war drills involving the army, navy and air force, he said. Indonesia and China enjoy generally positive
ties, but Jakarta has expressed concern about what it sees as Chinese encroachment in its exclusive economic zone in
the South China Sea. Increased activities by Chinese coast guard vessels and fishing boats in the area have unnerved
Jakarta, prompting its navy to conduct a large drill in July 2020 in waters around Natuna. Despite its official position as a
non-claimant state in the South China Sea, Indonesia renamed part of it the North Natuna Sea in 2017 to underscore its
claim that the area, which includes natural gas fields, is part of its exclusive economic zone. Similarly, the Philippines has
named part of what it considers its territorial waters the West Philippine Sea.Vietnam, one of the four ASEAN claimant
states, has been vocal in expressing concerns over China’s transformation of seven disputed reefs into man-made islands,
including three with runways, which now resemble small cities armed with weapons systems.Two ASEAN members,
Cambodia and Laos, both Chinese allies, have opposed the use of strong language against Beijing in the disputes.

The FS TONNERRE L 9014 departing from Toulon 18 09 2023. Photo : Gilbert Gyssels ©

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Norwegian Kongsberg involuntarily supplied

Myanmar navy ship
by Sofie Rønnelund
A Singaporean court fined the supplying company Hydronav and two of its employees on 19 September 2023 for
exporting a sonar system to a Burmese navy vessel in 2018 without permit.The two employees bought equipment from
the Norwegian technology supplier Kongsberg, and exported it to a warship in Myanmar. But the employees lied to the
Norwegian company.They admitted that they submitted false documents, letting Kongsberg believe the equipment was
for an Indonesian company. But then they sold it to a Myanmar entity to be used by the Myanmar Navy Hydrographic
Centre A sale which later preceded a military coup in the country – and overthrew the democratically elected government
at the time. And a procedure which is not aligned with the Norwegian company.
The rules are there for a reason
“Any sale or supply to customers in Russia, Iran, North Korea, Burma/Myanmar, Syria and Libya is prohibited,” Kongsberg
writes on their main website page. “The exportation, re-exportation, sale or supply, directly or indirectly, of Simrad
Commercial Fishery items and software in the fishery segment to a military (naval) or governmental end-user in a
country that is sanctioned or under restrictive measures by Norway, is not permitted without prior authorization by
Kongsberg Maritime’s head office.”Wui Ong Chuan, one of the two pleaded guilty, was fined US$33,000, while the other,
Poiter Agus Kentjana, was fined US$26.660. Hydronav was fined US$828,618 by the court for exporting the sonar
system and a drone used for surveying to Myanmar. Source: APF through Barron’s

Egypt sends naval ship with humanitarian aid to

Sudan
An Egyptian naval supply ship arrived at Port Sudan coming from the Safaga Naval Base and carrying humanitarian aid to
Sudan, the Egyptian Armed Forces announced in a statement.
“An Egyptian supply ship belonging to the Egyptian Navy arrived at Port Sudan in the State of Sudan coming from
Safaga Port at the Red Sea naval base, carrying hundreds of tons of relief aid, including food, subsistence, and medical
supplies provided by the Kuwait Red Crescent Society, the Arab League, Egyptian Crescent Society, and the Sudanese
embassy in Cairo,” the statement read. It added that the aid is directed to the most affected areas in Sudan, upon
instructions from President Abdel Fattah al-Sisi. Sudanese officials expressed their gratitude for the efforts made by the
Egyptian government to aid Sudan in its time of need, the statement said. Source : egyptindependent.

SHIPYARD NEWS

Freire Shipyard holds keel laying for maintenance

support vessel
The keel laying event for Briggs Marine's versatile Maintenance Support Vessel at the Freire Shipyard marks the
beginning of a groundbreaking journey in maritime support. The vessel's design is optimally configured to support
Briggs’ ongoing contracts with UK Government, offshore wind farms and commercial ports. The vessel will primarily
undertake inspection, servicing, and replacement of Aids to Navigation (AtoN) and heavy inshore moorings in the UK and
overseas, but also will seamlessly handle various tasks such as diving, surveys, and maintenance support while
maintaining its core functionality.

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Notable features include a moonpool, detachable A-frame, a 4-point mooring system, and a survey project office.
Additionally, the design incorporates a demountable Crew Transfer Vessel (CTV) boarding ladder to support offshore
windfarm projects. This upcoming construction, scheduled for delivery in 2024, boasts a length of 40 meters and utilizes
a diesel-electric DP-2 propulsion system, carefully configured for peak efficiency during operations in UK and Northern
European Waters. Briggs places a premium on crew comfort, evident through the vessel's noise reduction enhancements
and MLC compliant accommodation for the 6-person crew and 10 project personnel.
Freire Shipyard is a family-owned shipyard located in the northwest of Spain that was founded in 1895. Currently, the
shipyard is dedicated to the construction and repair of steel vessels of high technological value of up to 155 meters in
length, including Oceanographic and Research Vessels, Fishing Vessels, Mega Yachts, Offshore Support Vessels and
Military Patrol Vessels. Briggs Marine is a provider of marine and environmental services, with over 50 years experience,
specializing in port and marine operations, environmental and subsea support, and vessel chartering. Briggs Marine has
established itself in recent years as a key supplier for Peel Ports Group, providing marine services in the Port of Liverpool
and London Medway as well as providing Aids to Navigation (AtoN), Commercial Diving, Subsea Cable IMR, construction
and engineering support, Environmental Response, Marine Survey, Terminal and Energy Storage Solutions and Vessel
Charter across the UK. Source : PortNews

GTT receives an order from Dalian Shipbuilding for

the tank design of three new LNG Carriers
GTT announces that it has received an order from its partner Dalian Shipbuilding Industry Co. Ltd. for the tank design of
three new Liquefied Natural Gas Carriers, on behalf of China Energy. GTT will design the tanks of these three vessels,
which will each offer a capacity of 175,000 m3. The tanks will be fitted with the Mark III Flex membrane containment
system developed by GTT The delivery of the vessels is scheduled for the first half of 2027 and the first quarter of 2028.
Source: GTT

Newbuilding Activity Settles Down

Newbuilding ordering activity was on the downside this past week. In its latest weekly report, shipbroker Allied
Shipbroking said that “the quietest week so far in September for new order contracting, with just 16 firm orders rumored
this week – just over half of last week’s number. In the dry bulk sector, Meadway Shipping have returned to Oshima for a
Handysize with the same specification as their June order. The yard is now thought to have filled its slots until 2027. Also
in the bulker sector, Grieg Maritime have declared two options for 82k dwt pulp-specialized MPP vessels and CMB two
options for Qingdao Beihai built Newcastlemaxes. Fresh contracting in the tanker sector was a little lower than last week,
but above the level of bulker contracting. Union Maritime has placed 2 orders for LR2 tankers at SWS, bringing their
contracting to at least 14 vessels in total this year, all from Chinese yards. Although the price is unknown, last weeks
rumored LR2 order at SWS from ‘Greek buyers’ at c. $65m could offer a starting point from which to estimate the price.
The AlgomaFuretank JV ‘FureBear’ intermediate tankers appear to be a nearrepeat of an order they placed almost exactly
a year ago”.
In a separate note, shipbroker Banchero Costa added that “after weeks of constant activity, the Newbuilding market
takes a break with only few deals reported and also a limited number of options exercised. Starting from dry we recorded
an order for large 42,000 dwt Handysize for delivery in 1st half 2026, no price emerged, but as comparison Namura got
recently an order for similar 40,000 dwt around $ 33 mln.
The Tanker sector saw a few order for Product Taners. Tsakos Shipping and Energy ordered 2 x 50,000 dwt MR2 at
Yangzijiang following the increasing interest and appetite of this country to take business out of the S Korean market. No
price nor delivery were reported so far. Ocean Yield ordered 4 x 74,500 dwt LR1 at GSI for delivery end 2026 and mid
2027 to highlight the very busy schedule of the yard specialised in the tanker sector. In the large tanker sector Dalian
Shipbuilding got a domestic order for a dual fuel methanol driven VLCC from China Merchant Shipping basis dely Q4
2025”.Meanwhile, in the S&P market, Allied said that “on the dry bulk side, the market continued on a recovery mode,
with the number of fresh deals coming to light remaining fairly robust over the past couple of weeks or so. Combined,
the Supramax and Panamax size segments lead recent transactions, while being the only segments where their
respective TCE figures trading well above theirs’ past 12 months average levels. On the tanker side, as many interested
parties anticipated to some extent, the snp market did not continue on the strong pace of late, with the number of fresh
transactions taking place appearing rather limited. Thinking about the current perplexed feelings surrounding spot freight
earnings, coupled with the strong asset price levels, buying appetite will remain volatile in the near term”.
Banchero Costa added that “in the dry market, the modern TESS82 GENEVA STAR 82,000 dwt 2015 Tsuneishi Cebu
was rumoured sold to Chinese buyers at $26.9 mln; as a matter of comparison the one year younger sistership RIKKE
(Tsuneishi Zhoushan built), was sold back in June by Kambara Kisen to Greek owner Hellenic Star around $27 mln. In the

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Supramax segment, the Crown58 design HANSEATIC EAGLE 58,000 dwt 2010 Yangzhou Dayang was reported sold at
$12.2mln, while the japanese built WAVE RUNNER 56,000 dwt 2008 IHI was sold to Turkish Buyers at $12.8 mln; back
in the second half of august, the WINDSOR ADVENTURE 56,000 dwt 2008 Mitsui was sold to Far Eastern buyers
around $13.6 mln. The TESS52 OCEAN REEF 52,000 2005 Tsuneishi was reported sold at $8.6 mln. On Handies, the
GLOBAL EFFORT 37,000 dwt 2014 Onomichi was rumoured sold to Greek buyers in the mid/high $16 mln.
An active week in the tanker market. It turns out that the sale of ANAVATOS II, reported last week, was actually an en
bloc deal with sistership FULMAR 116,000 dwt 2009 Hanjin (BWTS and scrubber fitted). The two ships, purchased by
Union Maritime in 2019 for around $21 mln each, have now been sold at $39.5 mln to Middle Eastern buyers.
CENTENNIAL SAPPORO 110,000 dwt 2008 Mitsui (BWTS fitted) was reported sold to Turkish Buyers around $35.3
mln, while WONDER VEGA 106,000 dwt 2005 Hyundai was sold to $31.5 mln. In the MR segment, NCC NAJD 46,000
dwt 2005 Hyundai (BWTS fitted, DD Nov 2023) and sistership NCC HIJAZ (BWTS fitted, DD Jan 2024) were sold en bloc
to undisclosed Buyers at $17.25 mln. Two J19s sisterships – MH LANGOEY and STRINDA – both built 2006 Fukuoka
were sold at $15.5 mln each to undisclosed Buyers”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

ROUTE, PORTS & SERVICES

Industrial river ports flow toward green futures

Wu Haihua, 86, often immerses himself in reading for hours at a library situated on a tranquil bank of the Yangtze River.
It’s hard to imagine that before 2012, this area of Tongling in Anhui province used to be a busy port with severe
industrial pollution. However, massive changes began to take place here at the end of 2015.“Where the library stands
today used to be a port, fully piled up with mineral ores and sand to be transported along the Yangtze River,” said Wu,
adding that nobody liked to be close to the river. As an old industrial city renowned for nonferrous metal smelting,
Tongling has continuously explored ways to develop and transform former industrial areas. In November 2012, Tongling
officially initiated the revitalization of its riverside ecological zone. A total investment of approximately 480 million yuan
($66.5 million) was pooled to create a riverside ecological belt stretching 6.3 kilometers and covering an area of over 1
million square meters.
The library that Wu often visits is part of the project.
“We did our best to preserve the original look of the port, trying to integrate both ecological ideas and industrial
memories into the architecture,” said Yuan Kun, who’s in charge of the library. The 500-square-meter library, holding
more than 7,000 books, has become very popular among locals. China has been playing a responsible role in global
environmental and climate governance, pledging to peak its carbon dioxide emissions before 2030. Residents along the
Yellow River, another major river in China, have also witnessed action being taken to protect the local environment.
As a traditional large-scale metallurgical enterprise, Ningxia Jiyuan Recycling Development has developed a new way to
recycle its industrial exhaust gas and solid waste.Located in Shizuishan, Ningxia Hui autonomous region, the company,
through biological fermentation technology, is able to convert the carbon monoxide in the exhaust gas of mineral
furnaces into ethanol for fuel. The byproduct of feed protein is obtained during the process.“This project will turn
industrial exhaust gas that contains carbon monoxide into clean fuel, and reduce carbon emissions by about 180,000
(metric) tons per year,” said Mo Junhong, the company’s general manager. Source: Xinhua

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The MSC MAGNIFICA arriving in Toulon 18 09 2023. Photo : Gilbert Gyssels ©

Commodities worth over $620m traded at IME in a

week
During the past Iranian calendar week (ended on Friday), Iran Mercantile Exchange (IME) witnessed trade of 3,004,222
tons of commodities with a total trading value of more than $620 million on its physical market. As reported by the IME’s
Public Relations and International Affairs Department, the exchange saw on its metals and minerals trading floor trade of
2,415,833 tons of commodities valued at nearly $349 million. On this floor the IME sold 1,238,641 tons of cement,
707,000 tons of iron ore, 303,467 tons of steel, 163,100 tons of sponge iron, 46,135 tons of zinc, 4,980 tons of aluminum
and 67 tons of copper. Moreover, the IME witnessed on both domestic and export rings of its oil and petrochemical
trading floor 527,595 tons of commodities worth more than $255 million.Commodities traded on this floor included
211,589 tons of bitumen, 181,000 tons of vacuum bottom, 95,617 tons of polymeric products, 32,286 tons of chemicals,
4,248 tons of oil, 1,250 tons of sulfur, 702 tons of petroleum products, 550 tons of waterproofing materials and 530 tons
of feedstocks The IME also traded within the same week 15,293 tons of goods on its side market. As previously reported,
during the past Iranian calendar month (ended on August 22) Iran Mercantile Exchange witnessed trade of 13,452,706
tons of commodities with a total trading value of almost $3.2 billion on its physical market, logging growths of 11.5
percent in value and 21 percent in volume of trades compared with the month before that. As reported by the IME’s
Public Relations and International Affairs Department, the exchange saw on its metals and minerals trading floor, trade of
10,906,046 tons of commodities valued at more than $2 billion. On this floor the IME sold 5,544,552 tons of cement,
2,660,000 tons of iron ore, 1,707,761 tons of steel, 928,000 tons of sponge iron, 39,455 tons of zinc, 39,215 tons of
aluminum, 38,208 tons of copper, 2,800 tons of cast iron, 1,290 tons of molybdenum concentrate, 300 tons of coke and
72 tons of precious metals concentrate. It’s worth noting that the IME also traded 1,600 kg of saffron on its agricultural
trading floor.Furthermore, the exchange saw trade of 2,405,517 tons of commodities worth more than $1 billion on both
domestic and export pits of its oil and petrochemical trading floor.Items traded on this floor included 792,000 tons of
vacuum bottom, 663,300 tons of bitumen, 491,397 tons of polymeric products, 185,500 tons of lube cut, 167,335 tons of
chemicals, 76,505 tons of sulfur, 23,399 tons of oil, 10,618 tons of petroleum products, 1,560 tons of feedstocks, 1,000
tons of slop wax and 900 tons of waterproofing materials. Last was the IME’s side market on which the exchange traded
141,141 tons of goods.IME is one of the four major stock markets of Iran, the other three markets are Tehran Stock
Exchange (TSE), Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), and Iran Energy Exchange
(IRENEX). Source: Tehran Times

Rosmorport to approve design for modernization of

two icebreakers to meet cruise tasks
The icebreakers’ service life is to be extended by 15 years
Having undergone modernization, two icebreakers of Rosmorport, Kapitan Khlebnikov and Kapitan Dranitsin, will probably
turn into a basis for cruise shipping in the Arctic and in the Far East, IAA PortNews correspondent cites Vasily Strugov,
Deputy General Director, Fleet, Rosmorport, as saying at the Neva 2023 exhibition in Saint-Petersburg. According to the
speaker, the company’s fleet of icebreakers currently numbers 33 units of various power and age with most of ships built

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in Finland in late 70s – early 80s. Two icebreakers are being decommissioned. “Construction of new ships is a problem,
mainly due to the shipyards’ work load, so the company is set to extend the life of icebreakers and use them both for
cadets’ practice (year-round practice on the Kapitan Khlebnikov is planned) and for organization of cruises,” said Vasily
Strugov. Two icebreakers built in Finland in 1977-1981, the KAPITAN KHLEBNIKOV and the KAPITAN DRANITSYN,
are in the spotlight. They are supposed to be converted into cruise ships. By the way, two other ships in the series have
been upgraded with the enhancement of ice-breaking capacity although with the loss of performance in ice-free water.
An impetus has been given to the project by the successful experience of the recent 15 years on involvement of the
Kapitan Khlebnikov and the Kapitan Dranitsyn icebreakers for expeditionary and personnel transportation purposes in the
Arctic and Antarctica in the summer season. “Structurally, the ship can accommodate 120 passengers each but the
existing cabins are not designed for tourists,” explained Vasily Strugov.It is proposed to perform the modernization of so
that to extend their service life by 15 years and to convert them into passenger ships for organization of cruises in the
White Sea, in the Eastern Arctic and in the Far East. According to the speaker, these vessels can be used in the summer
season for organization of two 30-day long voyages: from Murmansk and from Vladivostok (according to their ports of
registration), with calls to the Far East and Arctic ports.
Although the plan is exciting, one of the main problems is insufficient infrastructure, first of all, that of berths: “Zodiac
boats can be used to deliver passengers to the shore, which is the usual practice for expedition voyages.The crucial
issue, however, is the modernization of ships. First of all, they need modernization of cabins with the quality standard
probably based on the accommodation standards of the VICTOR CHERNOMYRDIN icebreaker, Vasily Strugov
believes.“By today, the vessels have been re-equipped to meet Icebreaker 7 class, taking into account the requirements
of environmental safety. Of course, the cabins will be renewed. The modernization design has been drafted already and
the fourth quarter of this year we probably see the completion of the technical project for obtaining allocations to finance
the modernization,” summarized Vasily Strugov. Source : PortNews

Foresea wins new drillship contract with Petrobras

By : Adis Ajdin
Brazilian drilling contractor Foresea has confirmed the award from Petrobras for one of its drillships. The company
created in June this year from the restructuring of Ocyan’s drilling unit has fixed its 2011-built floater NORBE VIII to the
state-controlled oil giant for three years. The rig is currently on hire with Petrobras, and the new deal “at better
prevailing rates” will add approximately $450m to Foresea’s current firm backlog of $1.3bn. The company operates a
fleet of four drillships and a semisub – contracted with Petrobras.In addition to Feresea, Petrobras has awarded three-
year contracts to Transocean, Petroserv and Constellation as part of its floater tender earlier this year. Source : Splash
247

Jones Act compliant feeder system gets to work on

Vineyard Wind
The Jones Act-compliant feeder solution developed by DEME and Barge Master has been put into action at the Vineyard
Wind project off the coast of Cape Cod. The joint venture between Avangrid and Copenhagen Infrastructure Partners
(CIP) has shipped the first GE Haliade-X Wind Turbine Generator (WTG) from the New Bedford Marine Commerce
Terminal to its location more than 30 miles off the coast. Foss Maritime has partnered with DEME Offshore US to design
and build highly specialized US-flagged barges to transport the components to the lease area. The Marmac in New
Bedford, Massachusetts, and the Foss Prevailing Wind in Boston, both 400 feet long, are the only two barges in existence
capable of transporting in an upright position GE’s massive Haliade-X turbine components that when constructed will rise
more than 700 feet.
The barges utilize a specially designed Barge Master technology that uses a patented control system and cylinders that
support a platform and actively compensate for the motions of the barge. The wind turbine components are fastened to
the motion-compensated platform for a smooth ride in ocean conditions.“It may look easy, but the safe transportation of
these components miles over the open water is no small feat,” said Vineyard Wind CEO Klaus S. Moeller. “While we’ve
had many firsts, once this turbine is installed, it will stand as a proud symbol of America’s energy transition. I want to
thank all of our partners for their continued collaboration and look forward to celebrating the progress of our industry.”
GE will initially load the U.S.-flagged Marmac from the New Bedford Marine Commerce Terminal with three vertically
placed tower sections reaching more than 200 feet in height, three 321-foot-long blades and a nacelle pod that houses
the generating components. Foss will deliver loads weighing more than 1,700 tons each, to construction partner DEME
Group’s Sea Installer vessel with 300-foot-deep legs stationed 65 miles from New Bedford south of Martha’s Vineyard.

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SEA INSTALLER, which measures more than 430 feet in length and 150 feet wide, is a heavy lift jack-up crane vessel
that lifts itself out of the water on legs that are over 300 feet in length. Once elevated, the vessel becomes a platform
where the recently upgraded crane, now capable of lifting more than 1600 tons, can install the tower sections, nacelle
and blades for each WTG. An 800-megawatt project located 15 miles off the coast of Martha’s Vineyard, Vineyard Wind
will generate electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, and is
expected to reduce carbon emissions by more than 1.6 million metric tons per year, the equivalent of taking 325,000 cars
off the road annually.source : projectcargojournal.

Directeur Eemshaven had Fremantle Highway liever

niet gehad: 'Je haalt een grote onzekerheid binnen'
Als rampschip FREMANTLE HIGHWAY gisteren (Donderdag) middag veilig uit de Eemshaven is vertrokken, kon
havendirecteur Cas König opgelucht ademhalen. De kade is op tijd vrij voor een groot cruiseschip én er is een milieuramp
voorkomen. Er volgt nog wel een 'indringende' evaluatie met de minister over de manier waarop het schip naar de
Eemshaven kwam.
Donderdag 15.00 uur ging de FREMANTLE HIGHWAY los van de kade in de Eemshaven, waar het sinds 3 augustus
lag. Zo'n 36 uur later komt het schip vervolgens aan in de haven van Rotterdam by Damen Verolme
Vier sleepboten en hopen op rustig weer
Het wegslepen van dit 'dode schip', zoals dat in de scheepvaart heet, gebeurde volgens König met de grootst mogelijke
veiligheidsmaatregelen. 'Hij wordt gesleept door minimaal vier sleepboten en er moeten twee loodsen erbij. Ook moet
het daglicht zijn en rustig weer. Dat soort eisen stellen we niet bij elk vertrekkend schip.'
In de Eemshaven was men er zelfs nog op voorbereid dat er opnieuw brand ontstaat op het schip, in een van de vele
auto's die er nog op staan. Ongeveer een kwart van de oorspronkelijke lading is nog aan boord. 'De kans op brand is wel
uiterst miniem', zegt König.
Lng-schepen hadden in problemen kunnen komen
Dat de bergingsoperatie in zijn haven plaatsvond, vindt König iets om trots op te zijn. Maar als het aan hem had gelegen,
was het schip uitgeweken naar andere oorden. Minister Mark Harbers (Infrastructuur & Waterstaat) besliste anders. Hij
wees de Eemshaven aan als zogenoemd Port of Refuge, een uitwijkhaven voor schepen in nood. Een besluit vol risico's,
wist König meteen. Want het schip had in de havenmond of in de haven zelf kunnen zinken.
'Stel je voor dat dat was gebeurd. Dan zou de gasvoorziening van Nederland, via de lng-schepen in de haven, ook direct
in de problemen zijn gekomen. Ik heb best wel wat verontruste telefoontjes gehad toen duidelijk werd dat het schip naar
ons kwam.'
Veel publiciteit voor de Eemshaven
De toewijzing aan de Eemshaven noemt König iets om met de minister 'flink en indringend' te evalueren. 'Je haalt toch
een heel grote onzekerheid de haven binnen. Voor het eerst en ook nog eens onder grote tijdsdruk. Dit gebeurt zo
zelden, dat je er dan maximaal van moet leren.' Of de Eemshaven er financieel van geprofiteerd heeft, laat König in het
midden. 'Voor ons is dit geen cash cow, zoals ze dat noemen. En het blijft toch een rampschip, waar iemand van
afgesprongen is en overleden. We zijn vooral blij dat een verdere ramp voor het werelderfgoed Waddenzee voorkomen
is. De hele operatie heeft ons wel veel publiciteit opgeleverd.'
Geen plek in de Eemshaven
Dat het werk aan het schip nu verder gaat in de haven van Rotterdam, kon volgens König niet anders. In de Eemshaven
is simpelweg geen plek meer. 'Het is hier een komen en gaan van schepen. Straks komt er weer een cruiseschip van de
Meyer Werft. Rederijen huren bij ons een kade voor een bepaalde tijd. Dat was dus wel even spannend toen we de
Fremantle Highway binnenhaalden. Maar hij is gelukkig op tijd weer weg.' Bron : RTVNoord

JKL Partners offloads Lotte Insurance to secure fund

to acquire HMM
JKL Partners, which is in the race for the acquisition of HMM worth KWR5 trillion (US$3.76 billion) after forming a
consortium with Harim Group, is accelerating its efforts to secure funding through the sale of Lotte Insurance.According
to the investment banking industry on September 19, Private equity fund JKL Partners, the largest shareholder of Lotte
Insurance, has recently commenced the selection process for an underwriter for the sale of Lotte Insurance. The subject
of the sale is JKL Partners' 77 per cent stake in Lotte Insurance. JKL Partners acquired this majority ownership in Lotte
Insurance by investing approximately KWR730 billion in 2019. The current estimated selling price for Lotte Insurance is
ranging from KWR2.7 trillion to KWR3 trillion. Lotte Insurance's market capitalization is currently at around KWR740
billion. This represents a significant increase from the previous market capitalization of approximately KWR556.7 billion

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before the news of the sale emerged, causing a sharp price surge. In the industry, there is a sentiment that a selling
price exceeding KWR2 trillion, when considering the management control premium, may be excessive, given that Lotte
Insurance is a publicly traded company and its value is influenced by the market. Considering Lotte Insurance's market
share and its recent lacklustre performance over the past few years, there are opinions suggesting that it may be
unrealistic to expect an overvaluation. On the other hand, Korea Development Bank (KDB) recently estimated the
expected selling price of HMM to be at least KWR7 trillion during a business report presentation regarding the sale. If a
management control premium of 20 per cent is factored in, the HMM selling price would increase to KWR8.4 trillion. KDB
plans to secure the highest bid offered. With the expected selling price of HMM surpassing industry expectations, it is
understood that KDB is also considering the possibility of no successful bids. It has been reported that potential acquirers
have bid around KWR5 trillion for HMM, indicating their substantial interest in the company. The selling side selected
Harim Group, LX International, and Dongwon Industries as qualified bidders for HMM on September 4 and initiated the
due diligence process. Based on the financials as of the first half of this year, the asset sizes of the qualified bidders are
approximately KWR14 trillion for Harim Group, KWR8 trillion for LX International, and KWR7 trillion for Dongwon
Industries.Looking solely at asset size, Harim Group appears to be the only candidate with the capacity to acquire HMM,
according to BusinessKorea.

…. PHOTO OF THE DAY …..

Wagenborg’s MAXIMA navigating the Great Lakes Photo : Roger Lelievre (c)

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