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JANUARY 4, 2023

'The year 2022 was phenomenal for JNPA': Chairman PM Gati Shakti expediting infrastructure projects Air cargo demand dropped further during holiday season 58 airports now covered under Krishi Udan Scheme 2.0 FFFAI Chairman Shankar Shinde highlights key developments of 2022 in New Year Message to members A. P. Moller - Maersk completes acquisition of project logistics specialist Martin Bencher Group India's manufacturing sector activity at 13-month high in Dec. AD Ports Group delivers remarkable growth story in transformational 2022 PM Gati Shakti Projects Anil Kumar Lahoti takes charge as Chairman & CEO, Railway Board Agri products exports up in April-Nov. Indian economy seen resilient with financial stability

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JANUARY 3, 2023

Maersk joins rivals in softening contract conditions for shippers FMC ruling could be crucial in other 'unfair D&D fee' complaints US trucker shortage eases - but brakes are on in the market No exploitation says WiseTech, 'our costs have risen too'

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JANUARY 3, 2023

Bermuda ferry arrives at Gladding-Hearn for a major refit The Government of Bermuda's Marine and Port Services agency has chosen Gladding-Hearn Shipbuilding, Duclos Corporation, to undertake a major refit of its 700-passenger ferry Bermudian. Built in 1988, the 118 foot steel Legislation creates a new Great Lakes Authority There has been plenty of good news for the Great Lakes in all the year end flurry of legislation, and it's not only about icebreaking, important as that is. The omnibus appropriations First LNG cargo arrives at Germany's Wilhelmshaven LNG terminal As Germany ramps up its efforts to replace imports of Russian natural gas, the first full cargo of liquefied natural gas (LNG) has been delivered to the Wilhelmshaven LNG terminal, operated by Alaska O&G lease sale attracts just one bid The Bureau of Ocean Energy Management (BOEM) held Cook Inlet Oil and Gas Lease Sale 258 on December 30, 2022, as directed by the Inflation Reduction Act of 2022. The sale generated HHI-EMD methanol engine passes milestone test A methanol dual fuel genset engine for the world's first methanol-fueled containership has completed its FAT(Factory Acceptance Test) for the shipowner, Maersk. The engine is a Hyundai Heavy Industries - Engine & St. Johns Ship Building names Gentle VP repair Palatka, Fla., based St. Johns Ship Building has appointed Ken Gentle to the position of vice president of repair. In that role, Gentle will be leading the shipyard's production and project management Volstad awards NES another battery pack contract Ålesund, Norway headquartered Volstad Maritime has contracted Norwegian Electric Systems AS (NES) to deliver the battery package and the associated battery charging control system to its subsea construction vessel M/S Deep Cygnus

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JANUARY 3, 2023

GTT halts operations in Russia French engineering company in containment systems for LNG shipping and storage GTT has announced the cessation of its activities in Russia following an in-depth analysis of European sanction packages N° 8 and 9 prohibiting engineering services with Russian companies. The French firm is involved in Russia in the tank design of 15 ice-breaking LNG carriers under construction by the Zvezda Shipbuild Tufton sells last boxship to exit container sector Tufton Oceanic Assets Limited has decided to exit the container shipping sector selling its last container vessel for US$13 million. The 2009-built and 2,546 TEU Sealand Guayaquil is being sold at approximately depreciated replacement cost, according to Tufton, which will now have a fleet of 22 vessels. The buyer of the boxship has not yet been announced. "This divestment together with the other Indonesian port operator takes measures for potential extreme weather Major port and terminal operator in Indonesia Pelindo has announced precautionary measures to ensure the normal operation of its terminals after predictions of potential extreme weather in the first week of the year. Pelindo's main director, Arif Suhartono said anticipatory steps for the potential for extreme weather have been implemented at the company's passenger, container and non-container te ONE launches new service in Latin America Singaporean container line Ocean Network Express (ONE) has announced the start of its new Altiplano Service (ATS), which will connect the ports of Arica and Iquique in Chile with the port of Callao in Peru. ONE said the ATS service provides coverage to Arica via Callao, complementing its existing Asia to West Coast Latin America services, while it also further provides more connections for Intra- CN analysis: Box carriers' rate struggle on India trades continues amid demand challenges Container carriers serving Indian trades continue to face steep freight rate declines amid a weakening demand outlook that industry observers believe will only worsen in the days ahead, according to a new market analysis by Container News . On the westbound India-Europe trade, average contract rates from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gat Transpacific ocean rates return to 2019 levels The pandemic-driven surge in demand for ocean imports catapulted global freight - and rates - to new levels of infamy in 2021 and 2022. According to Freightos, logistics costs have played an important role in spiking inflation and they may play an equally important role in its easing as rates fall and operations normalise. Transpacific ocean rates to the West Coast have stabilised at 2019 levels

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JANUARY 3, 2023

Seanergy adds Japanese capesize as it ships out two oldest ships to spinoff United Maritime Greek capesize owner Seanergy Maritime has acquired the 2012-built vessel from Japan's Nissen Kaiun and sold two of its oldest ships to its spinoff, United Maritime. The Nasdaq-listed bulker specialist paid $31m for the scrubber-fitted 181,400 dwt ship delivered on December 27 and renamed . The deal was funded with cash and a new $16.5m ... Tufton offloads its last boxship Tufton Oceanic Assets is exiting the containership sector with the sale of its last sub-panamax vessel. The London-listed fund has offloaded the 2009-built 2,546 teu to an undisclosed buyer for $13m. According to Vesselsvalue data, the ship was bought for $12.6m in March 2018. Following the sale the Guernsey-incorporated company has a fleet of 22 ... TGS and SLB gear up for seismic survey offshore Bangladesh A partnership between Oslo-listed seismic data specialist TGS, oilfield services giant SLB and state-owned oil company Petrobangla has announced a new multi-client 2D seismic program offshore Bangladesh. The program's initial phase will comprise approximately 11,000 line km of newly acquired 2D seismic data on a regional scale to enhance the geological understanding of the Bengal ... BW Offshore stretches FPSO deal in Nigeria Floater specialist BW Offshore has agreed a short-term charter extension with Eni's subsidiary Nigerian Agip Exploration for the floating production storage and offloading (FPSO) unit Abo, operating offshore Nigeria. The Oslo-listed company said the charter for the 1976-built vessel had been extended until January 14, 2023, "to allow time to finalise terms for a further ... GTT halts business in Russia France's Gaztransport & Technigaz (GTT) has stopped doing business in Russia after analysing the latest European sanction packages which include a ban on engineering services with Russian firms. The group said its contract to supply membrane containment systems with Russian shipbuilding company Zvezda for 15 ice-breaking LNG carriers would be suspended and activities limited on ... Maersk completes acquisition of Martin Bencher Group A.P. Moller - Maersk has completed its $61m acquisition of Martin Bencher Group, a Danish project logistics firm. Martin Bencher was founded in 1997 and is an asset-light logistics provider with around 170 employees that specialises in project logistics. "With the addition of Martin Bencher, we are strengthening our ability to offer project logistics services ...

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JANUARY 3, 2023

Outgoing ministers sign off on Haifa port privatisation The $1.2bn privatisation deal receives the Israel government's green light six months after the consortium won the tender One of Belgium's busiest canals closed after vessel hits bridge Belgium's Brussels-Willebroek Canal is a major freight link between the capital and the port of Antwerp Black Sea Grain Initiative facilitates 16m tonnes of exports since August October was the most successful month for the scheme in terms of both the volume of cargo exported and the... Ukraine war risk cover switched to net line basis 'We need to make sure that any worst-case multiline loss is affordable,' says source First post-panamax boxship scrap sale since 2020 Sale of 5,600 teu capacity Akinada Bridge comes as boxship owners are facing falling asset values, while scrap pricing remains high The week in newbuildings: Activity brisk across most sectors Newbuilding contracts for two bulk carriers, three multi-purpose cargo ships, six LNG carriers, six tankers and two vehicle carriers have... The week in charts: Dark fleet tankers lead Russian port calls | Over 1,500 seafarers abandoned in 2022 | MSC becomes most reliable carrier Percentage of Greek-owned tankers shipping Russia cargoes drops to 33% over December, the port of New York and New Jersey... Castor Maritime amends Toro Corp spin-off terms New entity has eight tankers with an average age of 17 years Frontline completes redomicile to Cyprus Change is part of Frontline's plans to merge with rival shipowner Euronav Flex LNG issues equity over December Move follows $100m offering in November Daily Briefing Dark fleet tankers comprise 34% of larger ships calling at key Russia ports | P&I clubs pull war risk cover... Indonesia curbs palm oil exports to secure domestic supply The Indonesian government anticipates weaker seasonal production of palm oil in the first quarter of 2023 and so wants exports... Marine engineer GTT to exit Russia GTT is involved in the design of 15 ice-breaking LNG carriers and three gravity-based structures

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JANUARY 3, 2023

C.H. Robinson searching for new CEO - and new course for growth The change in leadership is likely to accelerate strategic changes in planning and capital spending at C.H. Robinson that have been under way since last March at the urging of investors. Plenty of work in the pipeline for breakbulk carriers, but rates uncertain Project and breakbulk carriers and logistics service providers have a healthy to-do list of energy-related cargo projects ahead of them; now the question is whether rates and availability will return to pre-pandemic levels. European recession dragging down ocean freight demand, rates As consumer spending drags, retailers are having trouble trimming inventories, giving rise to a probable drop in European import volumes at least through the first quarter of the year.

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JANUARY 3, 2023

Eagle Bulk seals mooted ultramax buy, extends fleet count to 54 Connecticut owner remains on the hunt for opportunistic buys heading into new year amid cooling values Greek-linked tankers head to Venezuela following US license An aframax and an LR1 en route to Venezuela for Chevron have ties to Greek owners Seanergy to make $8m selling vintage capesizes to spinoff United Maritime Diversified owner United Maritime has made $38m in S&P profit since being founded in June KSOE reverses out of Hyundai Samho Heavy Industries IPO plan Group company Hyundai Heavy officially becomes Hyundai HD as it moves into new high-tech base Pollution concerns after multipurpose ship grounds off the Bahamas Booms and skimmer boats are ready to respond as fuel oil is spotted off Caribbean island Tanker ordering hots up but no flood likely, BRS believes Most new 2022 deals signed in the final quarter after rates recovered Fearnley Securities: Tanker impact muted despite looming new Russia ban Two EU bans on Russian barrels are sending oil over longer distances but the extent of a boost to tanker sector remains unclear Castor reduces share-out ratio of tanker spin-off stock Cypriot owner rejigs division of company taking place this month Employers are undermining talks with workers at the UN's negotiating table The ILO's technical meetings are supposed to set standards - but employers' representatives are not engaging, writes IndustriALL's Walton Pantland Ince shipping lawyer joins Penningtons Manches Cooper Latest recruit will join firm's corporate practice Dubai shipbroker OceanExl expands into bunker and products trading Broking shop hires a trader from Monjasa Gas price prompts Fjord Line to convert LNG ships to dual-fuel Energy crisis has led to "non-sustainable" financial situation for ropax owner March of LNG and methanol fuelling uptake set to roll on in 2023, DNV says But more specialised bunker vessels will be needed to service newbuildings already contracted Turbulent year ends with Ince shares suspended after audit delays Law firm cites complexity of legacy accounting issues LNG cargoes flow into Germany and Finland's new FSRUs Newly arrived regas units start commissioning as relatively mild winter temperatures and low gas prices prevail Fouled hull strands angry passengers on Viking cruise ship off Australia Marine growth had to be cleaned from Viking Orion, causing missed calls Will 2023 see liner companies engage in another price war? Pending overcapacity in the coming months could lead liner companies to slug it out Pollution concerns after multi-purpose ship grounds off the Bahamas Booms and skimmer boats are ready to respond as fuel oil is spotted off the Caribbean island Evergreen hands out bonuses of up to four years' pay after record 2022 Yang Ming and CMA CGM also reward staff for hot container ship runs Capsized cargo ship refloated in Turkey, heading to scrapyard Togo-flagged ship had dramatically gone down quayside at Iskenderun Product tanker demand to jump as China raises export quotas Short-term boost predicted for owners operating in Asia Tufton Oceanic exits container sector with sale of last vessel UK shipping fund is focusing on product tankers and bulkers Kiel Canal is back in business after oil spill The world's busiest artificial waterway suspended traffic just before Christmas John Fredriksen's fortune approaches $20bn after big 2022 for tankers and gas carriers Lucrative year saw the London-based tycoon as active in shipping markets as ever Economou's TMS Tankers firms up suezmax orders at New Times Shipbuilding Greek shipowner signs up for four newbuildings at about $72m each Eva Tzima tips dual-fuel VLGCs to hold value Seaborne Shipbrokers head of research and valuations says a speed cap is top of her wishlist Omar Nokta: Modern LR2s are best investment for $1bn Jefferies analyst says current three-year charter rates on modern LR2s allow for 50% earn-back on investment Pia Meling: Future-proof vessel construction and 'ship as a service' is the way Managing director of sustainable recycling solutions company Grieg Green plans to disrupt the traditional shipbuilding lifecycle model Nikolas Tsakos: Shipping is under-appreciated, but investing in money markets is more attractive today Tsakos Energy Navigation chief executive says shipping is already sustainable. With high interest rates, he would rather spend money on Tesla Alexander Saverys: Buy Euronav, ammonia in Africa or promote shipping on TikTok Compagnie Maritime Belge chief executive pledges to put his money where his mouth is and bet on the Belgian tanker owner Jan Dieleman says there is no time to lose, 'the big win is on the table' Cargill shipping boss and chair of the Global Maritime Forum says there is no magic bullet but the building blocks are available now Anders Lepsoe: Embrace carbon capture and green shipping - and make money Chief executive of Knutsen NYK Carbon Carriers says carbon capture, storage and then shipping will become a key sustainable and highly profitable new trade Kuba Szymanski: We need to fix shipping's image problem InterManager secretary general says the industry has a fight on its hands to attract young talent Monica Kohli: Women's participation and leadership drive better environmental outcomes Wista UK president and Gard UK senior lawyer would split cash between investment in gender equality and cutting-edge fuelling innovations Lynn Loo: Emissions control must be underpinned by tracking Global Centre for Maritime Decarbonisation chief executive says emissions control and tracking are key to building confidence in any global carbon-pricing scheme Christopher Rex: Start a fund where fuel not freight drives value creation Head of innovation and research at Danish Ship Finance says investment fund would bundle long-term fuel contracts with alternative-fuelled newbuildings Guy Platten: Invest in alternative fuel R&D and seafarer training International Chamber of Shipping secretary general says $1bn is a drop in the ocean compared to the investment that is needed George Tsavliris: Prepare for a rainy day amid 'mind-boggling' regulatory change Principal of Tsavliris Salvage Group suggests putting away money for a rainy day amid a volatile landscape Martin Helweg: Research and development is where the money should be spent P&O Maritime Logistics chief executive stresses that a holistic approach is needed to get to net-zero emissions Dagfinn Lunde: Invest cash in high-yield shipping stocks today and reap green rewards tomorrow Former shipping banker, who now chairs fintech firm eShipfinance, believes a pragmatic investment policy would double or triple our money ChatGPT puts its money on Maersk, CMA CGM and Hapag-Lloyd Open AI's ChatGPT bot has ideas on sustainable shipping that coincide to a great degree with those of better established industry figures Sadan Kaptanoglu: Making our industry more efficient is vital in 2023 Former Bimco president and Kaptanoglu group chief executive says progress will come in small steps Fulford-Smith: Invest in 'cradle-to-cradle' green recycling for sustainable ships Affinity (Shipping) founder would invest $1bn in green-recycling facilities to ensure ships are sustainable on a full lifecycle basis Samuel Norton: Retrofitting and operational efficiency is the way to go Overseas Shipholding Group chief executive says emissions-slashing newbuildings for the Jones Act market will be tough to come by in the coming decade Jigo Hayashi: Net-zero cannot realistically be delivered without efficient carbon capture and storage Tokyo Century joint general manager thinks onboard systems could become a popular choice in the early stages of maritime decarbonisation in the coming decades Harry Vafias: Nuclear power is the only game in town StealthGas and Imperial Petroleum chief executive says nobody will invest $1bn in untested technologies Terje Iversen: Invest in efficiency today to reap rewards tomorrow Odfjell chief financial officer argues that a pragmatic investment strategy in the short term will yield rewards in the long term Marcus Baker: Vulnerable ecosystems need to be protected Marsh global head of marine and cargo says all maritime players need to readdress their roles in driving sustainability Madeline Rose: We need mandatory, market-forcing zero-emission regulations Pacific Environment's climate campaign director sets out a four-point plan to accelerate emission-free shipping John Dragnis: No country or company can be sustainable on its own Chief executive of the Goldenport Group proposes a multi-pronged investment approach Khalid Hashim: Modern secondhand ships a good bet while future fuels are trialled Precious Shipping managing director wants an IMO ban on ordering fossil fuel-burning vessels in place by 2030 Rupert Fee: Build a Poseidon Principles Institute to drive investment skill ShipMoney's strategic partnerships director says accelerating understanding on investment for sustainable shipping requires education Jasmin Fichte: More needs to be done in the field of alternative fuels Fichte & Co managing partner wants to become a market leader in biofuels Peter Anker: Buy the big green players Clarksons senior broking and investment banking advisor would invest in companies that are already driving green innovation Mike Konstantinidis: Sustainability is profitable when digitalisation prevails Co-founder of Metis Cyberspace Technology warns against uninformed investment decisions John Platsidakis: The Delphi Oracle closed a long time ago Honorary chairman of Intercargo and former Angelicoussis executive suggests one conservative and one risky investment scenario Kristin Holth says back long-term shipowners, not asset players HitecVision, Noble Corp, Maersk Tankers and GasLog Partners board member believes sustainability investment would target companies with a special business model Morten Arntzen: Target long-term infrastructure investors for 'real' green deals Morten Arntzen, senior shipping industry advisor at Macquarie Bank, says LNG and 'green costumes' need not apply Sakura Kuma: Envisioning an energy generation and supply system for Yokohama's port APM Terminals Japan chief executive Sakura Kuma would build a low-carbon operating port Stamatis Tsantanis: Buying secondhand capesize bulkers is best way to invest $1bn Seanergy Maritime Holdings chief executive says $800m would be spent on 30 capesizes, while the rest would go towards energy-saving upgrades Soren Meyer: Data does not get wrong-footed by volatility Chief executive of ZeroNorth says data will be the differentiator of the future Lucas Vos: $1bn is a drop in the ocean without partners Stolt Tankers president says the challenge of sustainable shipping is too great to tackle alone Nicholas Georgiou: 'Technological innovation is key to decarbonisation' Lomar Shipping chief executive says the need for reforms to accelerate decarbonisation is indisputable Oystein Kalleklev: IMO 2023 rules have turned into a 'car crash' Flex LNG and Avance Gas chief executive says he would spend big on his company's stock Ingvild Saether: Carbon capture is key to meeting the Paris Agreement Altera Infrastructure chief executive says it is necessary to invest now in CCS solutions Phil Parry: Spend the cash to build the very best team you can. Success will follow Spinnaker chairman says the people around you are what matter, with Henning Oldendorff providing a template for success Pierre Aury: Investing a billion dollars in sustainable shipping - no thank you! Competitive ShipBrokers Ltd chief executive sees some investments in sustainable shipping as flawed Chris Wiernicki: Pilot projects will light up decarbonisation drive ABS chief executive says training will also be needed to help the industry to decarbonise Rajesh Unni: Don't forget to invest in people alongside low carbon and digital technologies Synergy Marine founder and chief executive Rajesh Unni would spread investment across digital and low-carbon technologies, but he says do not forget people skills Christina Liviakis: The best investment we can make is to attract the best and brightest Wista USA president and American Ship Repair business development director says maritime sector would benefit from an international campaign to showcase its appeal Fabrizio Vettosi sees success in combining shipping and logistics investments VSL Club managing director believes there will be 'no transition without combination' The $1bn question: Here's how 54 leaders would invest in our fantasy sustainable shipping fund TradeWinds asked a wide array of maritime industry stakeholders, and one chatbot, how they would invest a $1bn fund to make the industry both sustainable and profitable Nick Brown: 'Invest in people to make our industry thrive' Lloyd's Register chief executive and IACS chairman says 450,000 crew need to be retrained for the challenge of decarbonisation Erik Hanell: Green methanol looks promising - but we must probe business case Stena Bulk chief executive says spending on ships will be hard to justify at the start of 2023 Mark Williams: 'Zero carbon marine fuels are a gold mine' Shipping Strategy director would invest in renewable power and electrolysers as production of green fuels for shipping needs to be vastly increased Michael Christiansen says to split the pot between digital and decarbonisation Wartsila Voyage vice president says collaboration is key to curbing emisssions Jasel Chauhan: Green revolution should start with fleet renewal and regeneration Head of Hill Dickinson's office in Piraeus says a chunk of money should be spent on alternatively-fuelled newbuildings Adam Kent: Repair yards and offshore wind make for sound investments Managing director of Maritime Strategies International says there has never been so many opportunities for sustainable investment Sigurd Jenssen: Get more bang for your buck with carbon capture and storage Wartsila exhaust treatment director would scale up carbon capture and storage across the global fleet Peter Peltenburg says invest in semi-autonomous vessel technology Cargo Care Solutions chief executive sees a strong medium-term investment case in an adaptable ship-technology platform Brett Bennett: Broader investment is needed to decarbonise Crowley Logistics senior vice president says investment is needed from government and the private sector to cut emissions Christian Lund takes the helm as president of SunStone Ships Management reshuffle also sees Ulrik Hegelund return to Denmark as cruise group's chief financial officer Indonesia reinstates palm oil export restrictions Move by Southeast Asian nation comes just days after it introduced a total ban on bauxite GTT suspends Russian LNG business worth $91m and ends work in country But French membrane designer says construction of other LNG carriers intended for Russia continues

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JANUARY 3, 2023

Crude tanker rates down double digits after Russia sanctions debut The predicted boost to tanker rates from Russian crude disruptions has yet to materialize. Instead, rates have declined.