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JUNE 30, 2023

Rajkumar Beniwal is the new Vice Chairman & CEO of Gujarat Maritime Board Antwerp port puts in place comprehensive digital radar & camera network for safe & efficient shipping traffic Global long-term shipping rates further rationalise in June Blank sailings at a post-pandemic low Cyclone-hit vessel berthed safely at KICT India's GDP on a high growth trajectory of 6-7 pc: Goldman Sachs Global shipping outlook: It's all about capacity as the tide turns China, the world's largest seafood producer, ratifies WTO deal on fisheries subsidies Horticulture production seen at a record Nano urea export to the US Edible oil industry seeks curb on imports Spices exports soar in April-May US Green Shipping Corridors key to reducing emissions: Buttigieg US inventories still not declining; seen leading to a weaker than normal peak season

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JUNE 30, 2023

Teams from three nations Metrans: two new services in Eastern Europe Port of Bilbao a leader in green shipping corridors RWI / ISL - "energy price shock has been overcome" Green steel for new trucks GW acquires freight forwarder B+A Iata: five hackathon winners Not only kangaroos... US railroads to create new corridor Software optimised during live operations South Korea investing in logistics centres in USA K + N announce change in executive board Known for two years, but still so much to do Hybrid locos for English Channel Gérald Delacourt joins Panattoni France MSK Pharmalogistic opens new distribution hub Latam Cargo boosts flower export capacity "Curiosity of the Day" TLX service launched

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JUNE 29, 2023

Canada's turn to feel the heat as port workers agree to July strike Analysis: $3.1bn Prologis-Blackstone deal - a fancy capital structure exercise Steam goes out of the charter market as carriers look to off-hire ships Exclusive: Menzies cargo chief Robert Fordree quits Logistics tycoon John Lau sues EV Cargo founder over investment Mexican port struggles with auto industry growth China Airlines Cargo shrinks 747 fleet, looks to lower costs with 777s Maersk named king of the backhaul in latest Xeneta league tables CMA CGM finalises 10-ship haul at Yangzijiang

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JUNE 29, 2023

Beacon Wind takes another step forward Another U.S. offshore wind project is moving along the regulatory pathway. BOEM has announced a Notice of Intent (NOI) to prepare an Environmental Impact Statement (EIS) for the proposed Beacon Wind project. Inaugural Ship Repair USA is a hit with attendees Marine Log held its first-ever Ship Repair USA conference in New Orleans on June 20-21, drawing nearly 250 attendees from across the spectrum of yards, vessel operators, maintenance providers, suppliers and other Japanese ammonia/LCO2 carrier design gains ClassNK AiP Japan's Mitsubishi Shipbuilding and NYK Line have obtained an Approval in Principle (AiP) from ClassNK for a vessel designed to carry ammonia on one leg of a voyage and captured carbon on Two ship operators reach settlements on Vessel General Permit violation claims Compliance with U.S. Environmental Protection Agency (EPA) Vessel General Permit regulations under the Clean Water Act can get complicated. Failure to comply can get expensive. The EPA has settled with two shipping Austal USA lays keel for second EPF Flight II Austal USA has celebrated the official start of construction of the future USNS Point Loma (EPF 15) with a keel laying ceremony at its Mobile, Ala. shipyard. Ship sponsor Mrs. Elizabeth Asher,

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JUNE 29, 2023

Congestion at Mundra Port hits vessel productivity for carriers The congestion plaguing India's Mundra Port over the past week continues to cause multiple operational troubles for container lines working on Indian trades, according to industry sources. Because of the logjam that developed after Cyclone Biparjoy-related disruptions, the port has been operating on an erratic berthing window system. Carriers, offering regular calls at Mundra, have had challenges CMA CGM updates service connecting Med ports with Turkiye CMA CGM reorganises the new setup of TMX 2 - Turkey Med Express 2 service, which will call Malta instead of Alger with a new rotation duration of 28 days. TMX 2 new rotation will launch on 10 July from the Turkish port of Aliaga. The updated TMX 2 will be operated by four vessels with 1,700 TEU capacity each, while the service's frequency will be weekly. In particular, the port rotation of the se Vietnamese port launches container handling service Vietnam's Long An International Port commenced container operations on 24 June after eight years of construction work. Long An International Port is part of the project cluster spanning 19.35 km² in Can Giuoc District, Long An Province consisting of the 3.96-km² industrial park, 2.39-km² industrial services area, 11.45-km² urban area and most especially the 1.47-km² seaport. The port is the flags Newbuilding orderbook to replace older boxships, as container shipping is "maxed out" With record deliveries of container ships expected this year and next, most analysts have predicted further heavy downside pressure on container shipping freight rates to be offset by carrier efforts to reduce capacity by slow steaming and layups or, alternatively, by a self-destructive scramble for market share. However, Jan Tiedemann, head analyst at Alphaliner, believes a very different pictur CMA CGM changes port rotation of its BSMAR service CMA CGM announced a new rotation of its BSMAR service, which connects the Black Sea and Turkiye with Spain and Morocco beginning 14 July 2023. The service will be served by a fleet of five vessels of 3,550 TEUs and its frequency will be weekly, while 35 days will be needed for a full rotation. BSMAR service's port rotation will be Malta (Italy) - Valencia (Spain) - Algeciras (Spain) - Casablanca

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JUNE 29, 2023

United Maritime adds to bulker fleet as it flips last remaining tanker Nasdaq-listed Greek owner United Maritime has boosted its dry bulk fleet with the addition of another panamax as it exits the tanker sector after nearly a year with the sale of its final remaining LR2 vessel. The Stamatis Tsantanis-led spinoff of Greek capesize pure-play Seanergy Maritime has purchased the 2011 Japanese-built bulker for $17.8m. The ... Norway gives go-ahead for over $18bn in offshore oil and gas investments The government of Norway has given the green light to companies to develop 19 oil and gas offshore fields with investments valued over NOK200bn ($18.5bn). The Norwegian government said in a press release that the projects were either new developments, further development of existing fields, or investments in projects for increased extraction at existing fields. ... Bahri lets go of ageing VLCC Saudi Arabia's top shipping line, Bahri, has offloaded one of its oldest very large crude carriers (VLCCs). The Riyadh-based tanker giant is said to have sold the 2003-built to an undisclosed Chinese buyer for $42.5m. Established in 1978, Bahri is one of the world's largest owners and operators of VLCCs with around 40 ships. The ... Norway offshore rig workers agree wage deal, avert strike There will be no strike on the Norwegian shelf as the Norwegian Shipowners' Association and the three unions, Industri Energi, SAFE and DSO, struck a wage settlement deal for offshore rig employees. Following national mediation, the parties reached an agreement in Oslo on Wednesday evening. Unions have said that more than 1,600 workers would go ... New milestone for MSC as it readies to surpass Maersk for owned box tonnage Mediterranean Shipping Co (MSC) is about to achieve another milestone in its rise to the summit of the global container carrier league. The Soren Toft-led liner is just three ship deliveries away from overhauling rival Maersk as the carrier with the largest owned box fleet in the world. It was in January 2022 that MSC ... EU takes action against tankers switching off their AIS The European Union (EU) has provided further details of its latest package of sanctions against Russia. Splash reported last week that ships caught carrying out ship-to-ship (STS) transfers of price cap-breaking Russian oil in European waters will be banned from EU ports. The bloc has also said it will prohibit access to EU ports for ... Libra board member becomes major shareholder in greentech firm Tergeo Limited has become a major shareholder in greentech company SulNOx following a series of off-market transactions. Tergeo Limited now has a holding of 10,000,000 ordinary shares of 2 pence each, which is equivalent to 9.89% of the current issued ordinary share capital in SulNOx. The company is an entity incorporated in the United Kingdom ... Canadian port strike set for July 1 The International Longshore and Warehouse Union Canada has earmarked July 1, Canada Day, for a 72-hour strike at the ports of Vancouver and Prince Rupert as contract negotiations with employers struggle to find an agreement. Employers in the form of the British Columbia Maritime Employers Association (BCMEA) and unions have been haggling over a new ... New Hong Kong shipmanager emerges A new shipmanagement company has been formed in Hong Kong, one of the world's top cities for third-party management. Seaways Ship Management has set up offices in Kowloon Bay and offers both technical and crew management. The company is led by Sanjeev Verma, who previously headed up Landbridge Ship Management. Veerma, a former seafarer, also ... Further expansion at Europe's largest port Rotterdam World Gateway (RWG) has reached agreement with its shareholders DP World, CMA CGM, HMM and Mitsui OSK Lines (MOL) and the Port of Rotterdam Authority about a phased expansion of the RWG terminal. In a first phase, an extra berth for the deepsea activities will be realized and, in addition to further capacity expansion, ... NYK and Mitsubishi Shipbuilding showcase ammonia/LCO2 carrier Mitsubishi Shipbuilding and Nippon Yusen Kaisha (NYK) have been granted approval in principle from ClassNK for a ship that can transport ammonia and liquefied carbon dioxide (LCO2). The planned carrier could transport ammonia to thermal power plants on an outbound route and then carry CO2 emitted from thermal power plants to storage sites on the ... Singapore's green ties The republic has made itself a world-class resource for shipping's transition away from fossil fuels as our new magazine details. Grab a pencil and draw in the lines of all the proposed green shipping corridors around the globe, and readers will notice that the crossroads of world trade - Singapore - lies at the nexus ...

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JUNE 29, 2023

Spain-UK shortsea route recommended for green corridor Spain has a growing hydrogen economy. But shipping risks being overlooked unless it can prove its case for offtake Ports of Los Angeles and Nagoya agree green shipping corridor The two ports are building upon a previous agreement signed in 2020, and will collaborate to expand cooperation on issues... Business groups sound alarm over Canada port strike A strike in key ports of Vancouver and Prince Rupert could have a severe impact across supply chains and the... Scandlines continues post-pandemic recovery Danish ferry operator bounced back from the effects of the pandemic in 2022. Continued growth is expected but economic headwinds... Marubeni takes a 25% stake in Klaveness units The deal is subject to regulatory clearance with an expected closing in the third quarter of this year Nigeria tanker tax demands could hit boxships and bulkers too Conciliation move from Tinubu administration sees six-month moratorium on vessel arrests Russia uses South Korea port for ship-to-ship transfers of oil trading above price cap Unlike other STS hubs in Mediterranean Sea and Atlantic Ocean cargo transfers of Sokol and ESPO grades that trade above... Danaos inks orders for two 8,000 teu boxships at Yangzijiang US-listed containership operator has already chartered six of its vessels on order for at least three years Containership sector to boost lowest ship recycling volumes since 2007 Ageing ships continue to be sold for further service rather than for recycling, although a surge in the sale of... Ukraine's Danube ports take centre stage as grain deal falters Ukraine's cluster of river ports have been a lifeline during the conflict and continue to be the only ports to... LNG and LPG: Gas fleet expansion gallops on US exports are supporting freight rates for VLGCs, says Poten & Partners Dry bulk: Looking for a boost from the China factor The dry bulk market seems to be lacking impetus as participants look to China for direction. So far, however, any... UK flag boxship fleet decimated by Brexit European tonnage tax systems require a percentage of EU flagging. The UK can no longer offer that benefit and has... MOL, Petronas and SDARI acquire AiPs for LCO2 carriers and FSO Petronas is pursuing a carbon capture and storage project in Malaysia for industries in the Asia-Pacific region Daily Briefing Tankers: From hubris to headwinds - tonne-miles, trade imbalances and geopolitics drive demand as peak oil looms | Pool scheme... Bocomm Leasing to fund LNG carriers for MOL, CNOOC and Cosco Finance agreement comes as the Chinese lessor, which thrived on offering high leverage against low asset prices, is moving into... Valencia promotes hydrogen for green terminals Hydrogen has great potential to reduce emissions from port equipment. But it needs both public funding support and collaborations between... Canada's west coast dockworkers issue 72-hour strike notice Longshore workers in Canada's west coast ports are prepared to strike, starting Saturday morning, International Longshore and Warehouse Union Canada...

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JUNE 29, 2023

Vessel schedule reliability to US West Coast hits two-year high: Sea-Intelligence Vessel on-time performance in the eastbound trans-Pacific is improving at West Coast ports, but slipping somewhat along the East Coast. Trudeau's resolve in spotlight with Western Canadian ports on brink of strike Prime Minister Justin Trudeau is generally viewed within the Canadian shipping industry as having acted too slowly - and weakly - when containerized supply chains were significantly disrupted over the last three years, notes Journal of Commerce Executive Editor Mark Szakonyi. CPKC inks deal with Hapag-Lloyd to boost Mexico intermodal play The railroad said the partnership with the ocean carrier is designed to attract cargo owners who may want to avoid Southern California or are looking for a shorter transit for freight destined for the US Gulf Coast. South Korean entities to develop Chicago, New Jersey transloading facilities The locations were chosen based on their proximity to key rail, airport and port facilities, the partners said. European hub ports invest in terminal automation, digitization Despite the subdued market environment, the ports of Rotterdam and Antwerp-Bruges expect rising volumes to place significant demand on capacity and vessel traffic management, prompting investment in both areas.

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JUNE 29, 2023

Panama Canal drought holdups are 'just a kick' to the container ship market while it's down But gas carrier market is poised to benefit from the snarls, Stifel analyst says SEA-LNG calls on IMO to regulate emissions on well-to-wake basis Coalition highlights progress made in cutting methane slip ahead of crunch emissions regulatory decision United Maritime makes quick profit with final tanker sale Greek owner successfully taps booming market with purchase and sale of four tankers in a year Marubeni Corp buys stake in bulker operator Klaveness Dry Bulk Equity deal comprises the Baumarine pool, Klaveness Chartering and the Norwegian group's freight-data tech offering Shipowners still face 'mishmash' of contradictory recycling rules, barrister warns Shipping is about to find out how the Hong Kong and Basel conventions will dovetail ... or not Attempt to block Vroon restructuring 'wholly unrealistic', judge rules Shareholders had claimed that the billion-dollar restructuring plan undervalued the private shipowner's assets How a newbuilding deluge will change the container shipping landscape The landscape will be different once a flood of deliveries recedes WFW sets up law student scholarship in memory of much-loved Mei Lin Goh Respected Singapore office head died in February Streetwise: How Nasdaq-listed tanker owner Top Ships turned '$43.4trn' into 60 cents Our weekly finance newsletter takes a look at the long-term destruction of share value at Top Ships and related criticism on the Maxim Group Bulker shipowners 'taking any offer on the table' as sales slow and correction looms Brokers and analyst continue to talk down sale-and-purchase prospects in dry cargo arena SEB offloads $7.8m stake in Solstad Offshore for mystery client Swedish bank retains only a fraction of Norwegian shipowner Details emerge of major shipyard accident that left several workers dead and injured in China Safety questions raised after collapse of hull block section on container ship under construction Libra director Constantine Logothetis buys into emissions-reduction company SulNOx Alithea Capital head builds 16.31% stake in fuel technology company IMO prepares for probe of maritime damage from Ukraine war Secretariat says it lacks expertise and support to carry out investigation into damage costs by itself Eidesvik Offshore drops equity raise as it enters comfort zone The Oslo-listed offshore owner had planned equity raise following March private placement BW and Ultranav put $552m of Navigator Holdings shares on the shelf Major investors register to sell stock in LPG carrier owner from time to time Comment: Windfall taxes come at a price, just ask Nigeria Nigeria's cash-strapped president is trying to balance the country's books, but at what cost? MSC scours Far East for LNG dual-fuel container ship sextet The liner giant is looking to order at least six 8,000-teu vessels Yara and BASF teaming up for 'world-scale' blue ammonia project in US Chemicals groups aiming to build plant to produce up to 1.4m tonnes per year Doubling V.'s earnings? It's doable, says chief exec Rene Kofod-Olsen Growth is on the agenda as ship manager moves into shipping services Greek seafarer dies in unexplained circumstances a month after joining Maersk Ganges Body of crew member brought into Tenerife, but there are no details of what happened Fuel production players enter lifecycle emissions conversation with call for 'common language' There are more than 100 ways to tally up the emissions from alternative fuels. Certification of the emissions from their pathways from well-to-tank will be essential CoolCo exercises purchase options for two EPS Ventures LNG carrier newbuilds Acquisition to be funded by cash on hand and debt financing Tidewater taps offshore marine veteran to lead board of directors Dick Fagerstal steps up to chairman role at offshore vessel giant after retirement of Larry Rigdon

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JUNE 29, 2023

Container shipping trilemma: Weak rates, new ships, pricey charters Sluggish demand is capping shipping lines' income. In response, at least one carrier is reportedly moving to limit losses on legacy charters. Gulf Coast ports post mixed cargo results in May Houston saw lower container traffic in May, while freight flows rose in New Orleans and Corpus Christi, Texas. Amerijet lays off workers as freight recession drags on Amid waning revenue, Amerijet is laying off 15 workers after signing an expensive contract with its pilots. Shipping faces fallout as China's post-COVID rebound falls flat Declining demand for Chinese exports and reduced stimulus options threaten bulk commodity import prospects.