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JULY 10, 2023

Interasia Lines expands presence with new branch opening in Gandhidham, Gujarat Able Shipping enters 23rd year of successful operations HTOA thanks Maharashtra Transport Commissioner's office for facilitating single window online ODC permission process Revised GHG reduction strategy for global shipping adopted South East CEO Conclave & Awards 2023 to see record participation Govt to grant private sector access to PM Gati Shakti National Master Plan Baltic Exchange Market Report (7 July 2023) New EDFC line launched Export Examination Clusters created at Nhava Sheva Mandatory container pick up based on identity at Antwerp port from January Global container shipping outlook: Pressure mounts amid flood of new capacity Exim Integrated Club Mumbai celebrates 5th Get-Together & Networking Meet India's rice export prices at fresh five-year peak Middle class seen doubling & boosting Indian market Suez Canal announces rebates

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JULY 7, 2023

Carriers run out of niche trades as pressure grows and freight rates tumble No kidding, folks - MSC's 'erratic M&A journey' makes a splash Canada west coast port strike yet to bite - but it will Airfreight rates: have we hit the bottom yet - if not, when? State funding of $1.5bn allocated to Californian port improvement projects MEPC 80: 2030 green target 'watered down' to become 'an indicative checkpoint' High inflation and interest rates, but 'the numbers still add up for box shipping' Lufthansa Cargo debuts fleet of new certified fire-resistant ULDs

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JULY 7, 2023

VIDEO: Port Newark ship fire continues to burn The deadly car carrier fire aboard the Grimaldi Deep Sea RO/RO vessel Grande Costa d'Avorio that cost two Newark firefighters their lives continued to burn today and seemed likely to continue burning California ports awarded $1.5 billion in state infrastructure upgrade grants Port officials across California were posing with giant checks yesterday as Gov. Gavin Newsom announced an investment of more than $1.5 billion in California ports - including approximately $450 million for zero-emission MEPC 80 sets new GHG reduction targets for shipping This week's meeting of the International Maritime Organization's Marine Environmental Protection Committee (MEPC 80) saw member states adopt the 2023 IMO Strategy on Reduction of GHG Emissions from Ships. The strategy fell BP puts $10 million into green methanol start-up WasteFuel Energy major BP has plans to deliver a 100,000 barrels of biofuel a day by 2030 to help decarbonize transportation. That target was announced yesterday by BP's vice president of next generation

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JULY 7, 2023

Salvage operation of Pangaon Express yet to begin The charterer of the container vessel Pangaon Express could not start salvage operation of the ship, which sunk on 6 July after leaving Chittagong port towards Dhaka, due to rough sea and long swell waves. Captain Faridul Alam, deputy conservator of the Chittagong Port Authority (CPA), said the ship is lying in a listed position. He noted that there is no more containers overboard after the three CMA CGM revises congestion surcharge in Algerian ports CMA CGM has announced revised port congestion surcharges (PCS) in Algeria's ports of Oran and Alger due to continuing delays in between congestion/waiting time plus berth time on the current vessels berthing sequences. As a result, laden cargo lead-time is being increased, empty equipment re-loading / repositioning frequency is affected and operating costs are rising, according to the French ocea Clarksons: Mixed trends in long-haul container trades High retail inventories in the United States mean little upside to Transpacific freight rates in the short term, according to a report issued by Clarksons. The UK shipbroking group said that while Asia-Europe westbound volumes saw growth of 8% and Transpacific volumes grew a startling 18% in 2021, 2022 saw things turn, at first gradually and then more dramatically in the second half of 2022. In t BIMCO applauds IMO strategy on GHG reductions from ships International Maritime Organisation (IMO) has decided that by 2040, the world fleet must have reduced its total greenhouse gas (GHG) emissions by more than 70% compared to 2008 levels. The world's largest direct-membership organisation for ship owners, charterers, shipbrokers and agents, BIMCO has described this decision as "groundbreaking", noting that the newly adopted IMO GHG reduction strateg ONE CEO Jeremy Nixon: Seaspan investment is synergistic Ocean Network Express (ONE) CEO Jeremy Nixon said today that the pan-Japanese liner operator's acquisition of a 28.5% stake in Atlas Corp., the parent company of Seaspan Corporation, is a purely financial transaction, but also a strategic move as Seaspan will become ONE's largest tonnage provider. Currently, 12% of ONE's chartered ships are from Seaspan but this will go up to 25% when newbuilding Fire aboard cargo ship docked at Port Newark kills two firefighters A fire broke out on the 10th floor of a cargo ship docked at Corbin and Marsh streets at around 9:30 p.m. (local time) on 5 July in Port Newark in the United States. There have been two fatalities and six injuries sustained due to responding to the fire aboard the vessel. Firefighting crews worked to extinguish the fire, both from the pier, and from waterside, while crew members worked to gain ac MAN Energy Solutions, Hapag-Lloyd and Seaspan partner on methanol engine retrofit MAN Energy Solutions has signed a Conversion Commitment Agreement with Seaspan Corporation, in collaboration with Hapag-Lloyd. According to the agreement, MAN PrimeServ, MAN Energy Solutions' after-sales division, will deliver 15 engine retrofit solutions for conversion of vessels powered by individual MAN B&W S90-type fuel-oil-powered engines from the Seaspan and Hapag-Lloyd fleets to dual-fuel New storage space for additional 3,500 cars at Port of Koper The Port of Koper is introducing a new storage space for an additional 3,500 vehicles at the car terminal. In particular, the value of the construction work amounted to around US$5.7 million and the total investment to approximately US$8 million. More specifically, the new investment has increased the port area by 68,000 m², while the storage capacity of the Car Terminal now stands at 46,500 vehi Valenciaport calls for tenders for new electrical substation Valenciaport has put out to tender the construction of the first of two planned electrical substations, which are expected to allow ships docking in Valencia to turn off their engines and connect to the electricity grid, thereby ceasing to consume fossil fuels and emit CO2 into the atmosphere. The new infrastructure is expected to make the Spanish port an even more effective site by decreasing th Strike continues in Canadian ports; federal mediators to intervene in negotiations The strike of the International Longshore and Warehouse Union (ILWU) Canada is still underway, as the negotiations have not come to an agreement yet. ILWU Canada commenced legal strike action against the British Columbia Maritime Employers Association (BCMEA) on 1 July. The discussions and negotiations between the two organisations never stopped but have no positive development yet. Negotiations MABUX expects global bunker indices to continue slight increase The worldwide Marine Bunker Exchange (MABUX) indexes have shown a moderate increase as of the 27th week of the year. The 380 HSFO index increased to US$499/MT, the VLSFO index rose to US$608/MT and the MGO index climbed to US$803/MT. "At the time of writing, the uptrend continued to prevail in the market," pointed out a MABUX representative in the latest report. The Global Scrubber Spread (SS), w Major maritime companies to develop book and claim approaches aiming to accelerate shipping decarbonisation Nine key players across the maritime value chain have issued a joint statement expressing their commitment to developing and implementing robust book and claim chain of custody systems to accelerate the early phases of the decarbonisation of the shipping industry. The signatories of the joint statement are Aspen Shipping Decarbonization Initiative, DHL Global Forwarding, Hapag Lloyd, Kuehne + Nag

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JULY 7, 2023

COSCO and PetroChina back at Hudong-Zhonghua for more LNG carriers COSCO Shipping and PetroChina are returning to CSSC-affiliated Hudong-Zhonghua Shipbuilding for two additional 174,000 cu m liquefied natural gas (LNG) carrier newbuilds. The ships will be built for joint venture firm United Liquefied Gas Shipping and delivered in 2025 and 2026. The carriers, that will serve the trade needs of PetroChina and its subsidiaries, come ... 'Vague and non-committal': MEPC green targets text comes in for fierce criticism The International Maritime Organization (IMO) has agreed on a revised strategy to decarbonise the global shipping industry. The agreement will be formally adopted today but no further changes are expected by delegates. The loose wording in the near finalised document doing the rounds at IMO headquarters will disappoint many Western nations and environmentalists who had ... Iino Lines to install Norsepower rotor sail on coal carrier Japanese shipping line Iino Kaiun Kaisha (Iino Lines) and J-Power have agreed to install Norsepower's rotor sail on the 2016-built dedicated coal carrier . This is the first time ever that a Norsepower rotor sail has been installed on a dedicated coal carrier. The installation will take place in the third quarter of 2024. The ... California investing $1.5bn in port infrastructure projects California has announced an investment of more than $1.5bn which would enhance the operations of several ports in the US state. Around $1.2bn will fund 15 projects creating an estimated 20,000 jobs and increasing the capacity to move goods throughout the state's global trade gateways while lessening environmental impacts on neighbouring communities. Projects receiving funding ... Iran seizes chemical tanker Iran's Revolutionary Guards seized a Tanzanian flagged chemical tanker yesterday, 24 hours after Iran had attempted to detain two other ships. The Nada II was widely suspected of being engaged in smuggling activity. On Wednesday, the US Navy intervened to stop Iran from seizing two oil tankers in international waters in the Gulf of Oman. Next year's EU ETS bill will cost shipping more than $3bn The European Union's Monitoring, Reporting and Verification (EU MRV) dataset for shipping's European CO2 emissions for the year 2022 has just been published, with the data highlighting some significant year-on-year changes from 2021 despite the shipping industry as a whole showing a modest reduction in emissions. The EU MRV regulation requires all ships exceeding 5,000 ...

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JULY 7, 2023

Danaos 'disappointed' with Eagle Bulk's response, denies making an 'actual offer' for Oaktree stake Danaos provides response to letter sent by Eagle's board chair Paul Leand Jr, where he rebuffed the former's public criticism... Shipping's climate compromise keeps 1.5°C alive, for now The IMO's loosely worded climate targets fall short of keeping shipping aligned with the 1.5°C Paris Agreement temperature goal, but they... European lenders dip below 50% of bank finance to shipping for first time Petrofin Research ship finance index unchanged but new loan production is 'weak,' as industry struggles to meet new credit criteria Containership sector's closer relationship with class is crucial, says Lloyd's Register Class is expanding its role to be not just the voice of safety and technical matters, but also to provide... California ports net $1.2bn in green funding Large investment by the state of California allocates about $450m to zero-emission projects. The port of Long Beach was the... UK extends state support for innovation in maritime decarbonisation Ratings union RMT criticises scheme as not linked to seafarer training What happens next - shipping's decarbonisation strategy explained The IMO's revised greenhouse gas strategy commits the industry to a rapid process of decarbonisation that will require further diplomatic... Seanergy says charterer 'reluctance' to comply with speed caps is contributing to weaker bulker rates Nasdaq-listed owner adds first newcastlemax to fleet under bareboat deal with purchase option Japanese operator to install rotor sail on dedicated coal carrier Both IINO Lines and Electric Power Development Co have made a commitment to sustainability, and see rotor sails and other... No ships registered for Ukraine grain deal in over a week There are just three ships loading at one of Ukraine's export hubs, with the deal set to expire on July... Offshore wind vessel orderbook continues growth trend Clarksons expects about $8bn to be spent on new vessels servicing the offshore wind sector this year, with the total... IMO's revised GHG strategy sparks mixed reactions Historic revision of greenhouse gas emission reduction targets by the IMO has been welcomed as an 'ambitious compromise' allowing rapid... Cosco Shipping Energy Transportation forecasts a 1,397% profit surge in the first half Growing transportation demand and high freight rates contributed to surging profit The Lloyd's List Podcast: A mid-year markets health check for shipping The Lloyd's List traditional mid-year health check on shipping's core sectors highlighted a few underlying conditions in box and bulk... Governments commit to compromised climate targets for shipping After intensive negotiations, the 175 member states of the IMO have agreed to decarbonise the global shipping industry by 2050... Container volume declines stabilise but rates still slump Box lines need a strong peak season to boost revenues. But, retailers are sitting on unsold stock and consumers are... HFW highlights key London shipping law decisions Law firm's annual review summarises key developments in 11 jurisdictions P&O Ferries extends North Sea charters Ferry operator has extended charters on three vessels for three years. Move will secure trade lane between Tilbury, Teesport and... Daily Briefing Hydrogen wars intensify with US' new $1bn initiative | IMO inches closer to agreement on GHG strategy revision | Greeks...

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JULY 7, 2023

US trucking companies adds jobs, but employees work fewer hours For-hire trucking companies have been expanding their workforce since February, but a soft freight market is cutting into weekly hours worked by drivers and dockworkers, BLS data shows. Prior NY-NJ empty container woes linked to FMC complaint against Hapag-Lloyd The carrier is the target of another shipper complaint regarding demurrage and detention fees, this time the indirect result of empty container congestion at the Port of New York and New Jersey. US imports building toward August peak, but labor concerns weigh: retailers The Global Port Tracker says prospects for a recession in the second half of the year are dimming and imports should increase as consumer demand ticks up and retailers reduce the inventory overhang that has kept warehouses full over the past year. Revised IMO emissions targets set clear timeline: shipping groups The London meeting of the IMO's environment committee has upgraded its emissions goals, but it is only the starting point in a long and difficult decarbonization journey. US House bills keep shipping reform effort alive even after freight rate plunge Although there remain multiple obstacles to further legislation being signed into law, bipartisan support that shipping reform attracted in 2021 and 2022 has led to a situation in which certain additional provisions stand at least a 50-50 chance of being enacted this year, writes Peter Tirschwell. Knight-Swift commits to LTL expansion amid soft truckload demand The largest US truckload operator will continue to add terminals to its LTL network as it absorbs truckload carrier U.S. Xpress. Strategic investment underpins ONE's 'sustainable profitability' target: Nixon The Singapore-based carrier's multi-billion-dollar investment plan into terminals, new ships and decarbonization is meant to secure the right assets in the right areas to keep it in the black. Singapore port body joins cross-industry decarbonization alliance Deeper public-private sector collaboration between global maritime industry players and the MPA will unlock key investments across the Indian and Pacific oceans, Lloyd's Register believes.

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JULY 7, 2023

Grimaldi ro-ro fire may burn for days, official says Fire has had minimal impact on flow of cargo in and out of Newark, director of Port Authority of New York and New Jersey says Shipping braces for $3.4bn - and rising - EU carbon trading bill Owners operating in European Union waters are offered help to cope with carbon allowance expenses, red tape - and maybe even to make some money off them on the side US judge fines Solvang's Clipper Shipping in pollution coverup Criminal case focused on dumping of oily bilge water off Togo and then failing to report it Podcast: How IMO's decision on shipping's carbon still leaves Paris Agreement goals within reach Audio edition of Green Seas talks to UCL Energy Institute Tristan Smith about new global greenhouse gas targets Editor's Selection: IMO misses open goal, counter-cyclical Greeks buy into dry bulk and Iran snares tanker A snapshot at some of the highlights of TradeWinds' news coverage this week ONE to double tonnage taken from Seaspan Corp over 12 months CEO Jeremy Nixon believes closer relations will not 'destabilise' Seaspan's dealings with other lines Ponant seeks yard to build unique sun, hydrogen and sail-powered cruise ship French player says new design will be in service by 2030 NSML switches to upskilling seafarers after 'Nigerianisation' Company is working towards its first female captain and has a large pool of cadets coming through ONE to double tonnage taken from Seaspan over 12 months CEO Jeremy Nixon believes closer relations will not 'destabilise' Seaspan's dealings with others lines Tankers and gas get 'top marks' in Clarksons half-term report as more growth predicted UK shipbroker expecting 2.3% increase in trade volumes in 2023 Scandinavian shipping groups cheer IMO's net zero 'at or around' 2050 agreement Norwegian shipowners call deal 'historic', while Danes say agreement has everything they worked for Shipowners will do 'everything possible' to achieve new IMO goals The United Nations shipping regulator urged to adopt levy on carbon emissions to help shipowners fund new technology and fuels Shipping braces for $3.4bn - and rising - carbon trading bill Owners operating in European Union waters are offered help to cope with carbon allowance expenses, red tape - and maybe even to make some money off them on the side Cosco has last laugh as it steps up car exports on wood pulp ships Chinese giant's innovative move looks to have paid off, despite some industry observers being somewhat sniffy Niels Stolt-Nielsen tackles 'horrible' Flaminia fall-out amid tanker IPO questions Shipping executive tells analysts $155m court ruling will not affect investment or listing plans Esvagt and Orsted ink second of world's first methanol wind farm ship series Danish owner and compatriot energy company will take delivery of latest wind farm ship in 2026 LNG carrier S&P action: Natural peak or emerging market? After a record-breaking 12 months, 2023 appears to be following suit with a buoyant first half Hoegh Autoliners bags record rate as car carriers make hay Norwegian shipowner says the second quarter average of $75 per cbm was the best yet IMO lines up carbon pricing mechanism commitment by 2025 Decarbonisation targets will also be reviewed every five years after criticism they fall short He said, he said: Danaos denies formal bid for Oaktree's Eagle Bulk shares, pitches services Greek company changes filing status to more aggressive stance, tells how it might seek to improve Connecticut company IMO commits to carbon pricing mechanism by 2025 Decarbonisation targets will also be reviewed every five years after criticism they fall short The widening gap between Oslo shipping stock winners and losers Some sectors were up and others down in the first half of 2023 amid macroeconomic fears Iran seizes chemical tanker in Gulf, a day after two failed attempts US Navy decides not to intervene as vessel seized on suspicion of smuggling activities Crew rescued as partially submerged cargo ship lists heavily off Bangladesh Three containers lost in incident in the Bay of Bengal Nigeria LNG's ship management arm starts estimating CII ratings NSML believes in efficiencies and upgrades but says ultimately it is 'only a matter of time' before fleet renewal beckons for steamships North Sea charterers breathe sigh of relief as AHTS market returns to normality Rates of $39,000 per day said to be more palatable for oil companies than last year's spike He said, he said: Danaos denies formal bid for Oaktree's Eagle shares, pitches services Greek company changes filing status to more-aggressive stance, tells how it might seek to improve Connecticut company North Star bags bonus deal as new SOV delivered three months early New contract awarded to Vard-built vessel by SSE Renewables OSV boss among the best 'value for money' CEOs on SGX, says analyst Salaries of top executives at most Singapore shipping and maritime companies said to be justified

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JULY 7, 2023

Ship queues mount as dockworker strike in Canada drags on U.S. imports via Canadian ports face rising fallout as the war of words escalates between dockworkers and employers. Western Global pilots pursue 1st union contract amid financial turmoil Cargo pilots at Western Global Airlines are in the difficult position of negotiating their first collective bargaining agreement as questions mount about the company's ability to stay in business. Car carrier blaze in New Jersey port will burn 'for a couple more days' New Jersey container imports are unscathed "so far" but the port's automobile trade faces fallout from the ongoing fire. The legendary voyages of 2 steamships in their glory days An article published in the July issue of American Shipper in 1975 tells the stories of two steamships when they ruled the seas. The stories are full of adventure, mishaps and big wins, giving a glimpse into the life of a sailor in the late 1880s. Canada's dockworkers strike impacts freight rail operations As the labor strike continues at the ports of Vancouver and Prince Rupert, Class I railroads are taking steps to ensure that their networks face minimal disruptions.