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FEBRUARY 6, 2024

Paradip Port achieves highest ever monthly cargo throughput of 14.32 MMT among Major Ports India's GDP seen growing at 6.7 pc till FY31: CRISIL APM Terminals Pipavav sets new record for vehicle handling by rail PIL completes full integration with Singapore Trade Data Exchange (SGTraDex) platform CSL to develop repair cluster on the western coast Reports of container operations closure at Adani Krishnapatnam Port refuted Mahindra Logistics announces expansion of its multi-client warehousing capacity to 5 lakh sq. ft. in Nashik DGGI detects 1,700 fake ITC cases worth Rs 18k cr. Salalah Free Zone, part of Asyad Group, boosts investments Express business delivers consistent volume growth for Allcargo Gati CMA CGM to enhance its SAFRAN service connecting North Europe with South America East Coast Westwood Shipping Lines to rebrand as Swire Shipping AD Ports Group & Karachi Port Trust extend cooperation through 25-year concession agreement for bulk & general cargo terminal at Karachi Port

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FEBRUARY 6, 2024

Not identical twins Gruber joins EU research project GLS Germany: deliveries by H2 truck From LAX on PAX and freighter flights to Mexico Barcelona's LNG leap A promotion for Michael Castagnetto A solid year for DSV Intermodal routes for Chinese products Zack Oakley takes the helm Merger in full swing Faster UK-Europe link Turning back the clock "Curiosity of the Day" A330P2F conversion launched in Istanbul Freshness from Japan In the heart of Stuttgart More African firms to gain access to railfreight A new air cargo manager for Linz airport

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FEBRUARY 5, 2024

Shippers adjust to Cape diversions, now they want freight rates to settle OceanX: Hapag loses, ONE wins; DSV headcount efficiency; Schenker deadline is here; CNY looms DSV is a contender for DB Schenker, but carrying some baggage... Methanol passes a milestone on its way to mainstream adoption New laws on goods made using forced labour could split supply chains New logistics park at BGY could open a new export chapter for the airport Tax waiver extension a welcome boost for Indian garment exporters Uber Freight set to roll out first standard scheduling app for truckers Mars Wrigley strengthens GEM supply chain leadership with two new VPs

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FEBRUARY 5, 2024

VIDEO: India's Garden Reach shipyard launches its first fully electric ferry The Indian Government's Garden Reach Shipbuilders and Engineers has marked a milestone in the construction of the fully electric ferry that it is building for the Government of West Bengal (see earlier SIU Canada releases report on harassment in Canadian maritime The Seafarers' International Union of Canada (SIU Canada) has published a report on workplace harassment and bullying within the Canadian marine sector. It indicates that 46% of seafarers have experienced harassment or Birdon buys Metal Shark Bayou La Batre shipyard Australia's Birdon Group reports that its Birdon America Inc. subsidiary has acquired Metal Shark Boats' 32-acre Bayou La Batre shipyard in Alabama. It says that the acquisition brings a fully developed shipyard Oldendorff opts for Norsepower for Teck rotor sail retrofit Helsinki, Finland, headquartered Norsepower is hailing the decision by Oldendorff Carriers to fit a bulker chartered by Canadian mining giant Teck Resources with three Norsepower rotor sails. As we reported in December,

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FEBRUARY 5, 2024

AD Ports and Karachi Port Trust forge strategic partnership with 25-year concession AD Ports Group has officially signed a new 25-year concession agreement for Bulk and General Cargo operations in collaboration with Karachi Port Trust (KPT), the federal agency overseeing Port of Karachi operations. The concession involves the establishment of Karachi Gateway Terminal Multipurpose Limited (KGTML), a Joint Venture majority-owned by AD Ports Group and partnered with Kaheel Terminal Port of Barcelona achieves milestone with 199 LNG bunkering operations in 2023 In 2023, the Port of Barcelona conducted 199 LNG bunkering operations, supplying a total of 143,000 m³, doubling the previous year's figures. The surge was attributed to normalized prices post the 2022 Ukraine conflict and the introduction of the Haugesund Knutsen bunkering barge. LNG bunkering operations tripled, elevating the Spanish port's share of LNG bunkered to ships from 0.2% in 2021 to 5. Gebrüder Weiss expands its presence in the United States The international transport and logistics company Gebrüder Weiss is expanding in the United States with the acquisition of the sea and air freight forwarding company Cargo-Link. Following the establishment of new locations in Laredo, Texas, and Miami last year, Gebrüder Weiss decided to enhance its presence in the country. "We are continuously consolidating our presence in North America. With Car Georgia Ports Authority to invest US$29 million to mitigate terminal truck traffic The Georgia Ports Authority (GPA) is set to invest US$29 million in a new overpass connecting Ocean Terminal to Route 17, aimed at alleviating the impact of terminal truck traffic on local neighbourhoods. This collaborative initiative involves the Georgia Ports Authority, the city of Savannah, and the Georgia Department of Transportation (GDOT). Originating from community engagement near Ocean Te Red Sea Greens to Chinese New Year Blues: Where are container spot prices headed? As the Chinese New Year Blues unfold, with the "Year of the Dragon" being celebrated from the 10 th to the 15 th of February, 2024, the container spot rates finally seem to have given up their green sprints that commenced on account of the Red Sea disruption. Or have they? What could be in store going forward, for the rates? The 45-day period from 15 December 2023 to 31 January 2024 saw the World Hapag-Lloyd announces new GRI from Asia to American destinations Hapag-Lloyd has announced a new General Rate Increase (GRI) that is set to take effect for cargo shipments from Asia (excluding Japan) to Latin America, Mexico, the Caribbean, and Central America, beginning 1 March 2024. This increase applies to all 20' and 40' Dry containers, including High Cube equipment and 40' Non-operative reefers, and will remain valid until further notice. The details of t Container throughput decreases at Tokyo Port In October 2023, the Port of Tokyo witnessed a decrease of 10.3% in foreign-trade container handling, with a total of 352,680 TEUs. According to JIFFA, loaded export containers amounted to 88,744 TEUs (down 4.8%), and empty export containers were 82,048 TEUs (down 11.7%). Imports comprised 175,246 TEUs of loaded containers (down 9.7%) and 6,642 TEUs of empty containers (down 47.9%). Also, contain

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FEBRUARY 5, 2024

Re-exporting animals from stranded livestock carrier no longer an option Some 16,000 Australian sheep and cattle stranded on the livestock carrier currently moored off Perth will not be re-exporting the cattle after the country's regulator shot the proposal down. The animals have been on the water for a full month. Several hundred cattle head were unloaded from the 2010-built, 7,900 dwt carrier on Friday but ... Vard to convert 16-year-old PSV into cable layer Subsea cable network provider IT International Telecom Marine has chosen Norwegian shipbuilder Vard to convert the platform supply vessel (PSV) into a cable laying vessel. The PSV was built at Vard Brattvaag and delivered to Volstad Maritime in 2008 under the name Volstad Princess. SD Standard Drilling bought the vessel in 2017 before it was ... Hayfin signs for bulker newbuilds at Oshima Hayfin Capital Management has contracted Oshima Shipbuilding in Japan through Sumisho Marine for a pair of post-panamax bulk carrier newbuilds. No price was revealed, but the UK alternative investment platform said the 100,000 dwt vessels would deliver into a long-term charter to an international energy trader in 2026. The newbuilds will be built to "world-leading ... Capital Gas back at Hyundai Mipo for more liquefied CO2 carriers Greece's Capital Gas Ship Management Corp has returned to Hyundai Mipo Dockyard in South Korea for two more liquefied carbon dioxide (LCO2) carriers. The Ulsan-based yard said the Evangelos Marinakis-led company had signed up for a pair of 22,000 cu m ammonia and LNG-ready units, with delivery expected in July and November 2026. Capital Gas ... Valaris seals UK jackup deal with Shell New York-listed offshore driller Valaris has secured a contract with UK supermajor Shell for its 2019-built heavy-duty harsh environment jackup Valaris 123. The rig has been earmarked for the Selene exploration well and Pensacola appraisal well in the UK southern North Sea. Shell's partner on the P2437 and P2252 licences said the contract and mobilisation ... Submissions fly in for next month's MEPC Submissions are flying in to the London headquarters of the International Maritime Organization (IMO) ahead of the eighty-first session of the Marine Environment Protection Committee (MEPC) next month where the focus will be on developing legally-binding measures to ensure last year's milestone agreement to phase out greenhouse gases from shipping by 2050 is made possible. ... Meadway rebrands itself as Drydel Shipping Greece's Meadway Shipping and Trading is changing the name of its operations this month. Effective February 19, the Costas Dellaportas-led bulker player will be known as Drydel Shipping. The name change includes outfits in Athens, Singapore, Dubai and Meadway Maritime Chartering. "This rebranding is designed to set us apart in the marketplace and eliminate any ... Tehran warns Pentagon to steer clear of two IRISL 'spy' ships The US military struck multiple Houthi positions in Yemen over the weekend, while Iran warned the US yesterday to avoid targeting two ships ostensibly belonging to Islamic Republic of Iran Shipping Lines (IRISL). The two vessels - Behshad and Saviz - have long been suspected of being spy ships for Iran's Revolutionary Guard, having loitered ... Foremost sells off two older capes Hot on the heels of newbuild orders for four methanol-powered kamsarmax bulkers in China, New York-based Foremost Group is offloading two of its three oldest capes. The Angela Chao-led owner is shipping out the 176,000 dwt 2011 Shanghai Waigaoqiao Shipbuilding-built Yue May and Guo May for $26m each, according to brokers. The move comes ahead ... Jinhui in $31m capesize swoop Chinese bulker owner and operator Jinhui Shipping and Transportation is expanding its fleet with a capesize purchase from Taiwan's Hsin Chien Marine. The Oslo- and Hong Kong-listed outfit has snapped up the 181,279 dwt 2012 Imabari-built for $30.95m. The vessel, estimated at $32m by the online pricing platform VesselsValue, is set to deliver between July ... DOF wins PSV contract in Australia Oslo-listed offshore vessel owner DOF has secured a contract from an unnamed international oil company for its platform supplier. The 2012-built vessel has been fixed for two years for work in Australian waters. The contract worth between NOK250m ($23.5m) and NOK 500m ($47m) starts in the first quarter of 2024 and comes with extension ... Eidesvik extends CSV shipmanagement deal with DEME Norway's Eidesvik has signed a three-year extension to its ship management agreement with Belgian marine contractor DEME for the construction support vessel (CSV). Eidesvik sold the CSV to DEME for conversion into a cable layer at a reported price of $118m in August 2022. The provision of full technical management, crewing, and operation of ... Wood scores $80m Equinor extension in Brazil UK engineering firm Wood has secured an $80m contract extension with Equinor to deliver maintenance and modification solutions for Peregrino assets offshore Brazil. The two-year extension will see Wood continue to provide solutions to optimise the Peregrino wellhead platforms and floating production storage and offloading (FPSO) unit, delivering engineering, prefabrication and outfitting, offshor Vintage VLCC prices edge down Even though more than 10 rusty ladies have been reported sold this year, prices are finally coming down for vintage VLCCs. Broking sources report that a raft of ships have been circulated, but buyers are reluctant to bid despite healthy earnings. The latest reported sale in the sector is the 16-year-old Tohshi, a 300,500 dwt ... LNG carrier deliveries this year to smash previous record by close to 50% The pace of LNG newbuild deliveries will smash records this year, beating the previous annual gas ship delivery peak of 2021 by 48%. Data from Clarksons Research shows 89 LNG ships - with a combined 14.9 cu m capacity - are due to deliver this year, more than double the 10-year average, representing a 48% ... AD Ports builds base in Karachi The UAE's AD Ports Group has signed a concession agreement for bulk and general cargo operations with Karachi Port Trust (KPT). Under the terms of the 25-year concession agreement, Karachi Gateway Terminal Multipurpose Limited (KGTML), a joint venture between AD Ports Group, as a majority shareholder, and Kaheel Terminals, a UAE-based company, will develop, operate ...

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FEBRUARY 5, 2024

Seizures, sanctions, and criminal charges in latest US crackdown on Iranian oil The US announced a major crackdown on a 'billion-dollar global network' trafficking Iranian oil, coinciding with US airstrikes on Iran-backed... The Lloyd's List Podcast: The lingering scandal of Brillante Virtuoso The murder of David Mockett, the maritime surveyor at the heart of the Brillante Virtuoso scandal, continues to cast a... Lloyd's fails widow of British surveyor murdered in Brillante Virtuoso marine insurance fraud Mockett's widow has sold her jewellery and house over past 13 years, while family and friends have waged a so-far... Marinakis doubles order for largest-yet CO2 carriers Nasdaq-listed affiliate Capital Product Partners, which is undergoing a makeover into a pure gas shipping company, has been given the... Recycling candidates in short supply as Red Sea effect pushes up freight rates The situation in the Red Sea is stifling the number of demolition candidates, indicating that ship recycling will likely remain... Ukraine Black Sea corridor exports hit 20m tonnes Ukraine's self-managed corridor enabled exports of 20m tonnes on 661 vessels to 32 countries, with agricultural product shipments forming more... Shipping is fundamentally changing and Euronav is going to prove it, says Saverys The passionate chief executive of Euronav and CMB talks candidly about the pace of change ahead, why the plan to... Transpacific spot rates spike as pressure eases on Europe trades Supply chain disruptions from the initial shock of Red Sea rerouting are starting to ease. But rising demand for the... The week in charts: Government pressure grows on dark fleet dilemma | Nexus behind Sino-Russia trade's newest recruit | Somali pirate attacks add to Red Sea confusion The rise of the dark fleet and a growing problem with fraudulent flags has spurred action from governments concerned about... Iran warns against targeting 'spy ship' amid latest Houthi air strikes Tehran claims the converted general cargoship, Behshad, widely suspected of providing intelligence gathering support to Houthi ship attackers, is not... The week in newbuildings: PCTC orderbook hits 181 vessels The orderbook for pure car and truck carriers continues to grow with Neptune Lines and Eastern Pacific Shipping both adding... CMA CGM confirms halt to Red Sea routing CMA CGM was the last of the major carriers to risk Bab el Mandeb transits. The latest close call on... AD Ports seals Karachi Port concession The latest deal gives AD Ports full control of the multi-purpose East Wharf. The UAE-based port operator sees Pakistan as... Daily Briefing Flags of Deceit could send shipping hurtling back to the bad old days | Beware the dark fleet, price cap... Japanese shipping groups expect weaker earnings despite temporary Red Sea boost Forecasts seem to suggest the rerouting-driven surge in container rates is not expected to substantially offset the post-pandemic downturn in... Seacor offloads continue with sale of Caribbean liner and logistics business Logistics and transport company Seacor Holdings has sold its Carribbean liner and logistics business to King Ocean Services. It is... Ofac blacklists Hong Kong-based IRGC front involved in Iranian commodity sales The US has blacklisted another entity involved in sales of Iranian commodities sales for the benefit of the IRGC-QF, adding...

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FEBRUARY 5, 2024

Industrial expansion driving boost in New Orleans project cargo volumes Project volumes will include steel and modules related to the development of the second phase of the $21 billion Venture Global liquefied natural gas export facility under construction in Plaquemines Parish, downriver from New Orleans. Gebrüder Weiss buys Cargo-Link, expanding US LCL network The Austria-based global logistics provider looks to increase its US presence, adding less-than-containerload services by acquiring a Utah-based forwarder. Uber Freight, SSC testing digital truck scheduling standard A pilot version of a truck appointment scheduling API is part of the hunt for new digital standards for supply chains that are still encumbered by manual processes. Norfolk Southern canceling, rerouting traffic on some intermodal lanes The railroad is eliminating or adjusting service in four cities this month in a move to shift resources to corridors where it believes freight will surge over the next decade. Ulsan joins race for methanol hub status with bunkering of 16,000-TEU vessel The South Korean port is the latest to establish its credentials as a sustainable fuel hub as competition between global gateways intensifies.

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FEBRUARY 5, 2024

International Seaways and Ultranav forge new aframax pool with a familiar name Miami-based Cape Tankers to run fleet of six to 12 modern crude and product carriers US investor BlackRock reveals new stake in dry bulk operator World's largest asset manager stocks up on niche-market specialist Pangaea Logistics Stolt-Nielsen crashes through 13% holding in chemical tanker rival Odfjell Norwegian giant has amassed 3.2m more shares in peer shipowner US Gulf Coast VLCC fixtures slump to nine-month low Rates for largest crude carriers remain muted despite favourable market conditions Shipping's 'worst corporate dumper' revealed by shipbreaking NGO World's largest liner company beached the most ships in 2023, says environmental group Oil spill off Brazil sparks hunt for Panama-flag tanker The investigation seeks details on 170 square-kilometre slick 'Dire need': Vard to convert veteran Canadian PSV into cable layer Fincantieri-owned shipbuilder clinches deal to give new lease of life to ship it built in 2008 Nuclear power for shipping takes a step forward with the help of the world's largest shipyard Key agreement also involves other partners in development of molten chloride reactors Core Power seals deal with HD Hyundai to explore nuclear power for shipping Key agreement also involves other partners in development of molten chloride reactors Euronav tanker unwittingly caught up in $1bn Iran oil smuggling probe Operation included tanker seized by British marines and vessel tied to STS operation with Euronav tanker Yasa picks Clarksons broker Katrine Birkholm as godmother of new bulker Young Clarksons Denmark staffer recommended by boss Nicolai Kofoed for ceremony in China Kristian Gerhard Jebsen exiting tankers with $104m sale taking shape One vessel sold and brokers reporting disposal of the other following Torm deal last year Foremost linked to five capesize sales as S&P market fires up Just a few weeks after ordering modern kamsarmaxes, the Chao clan is shaking out at least two bigger, older bulkers Costas Dellaportas changes name of Meadway Shipping to avoid confusion with brother's outfit Greek bulker company becomes DryDel Shipping three years after fleet split with George Dellaportas Oldendorff picks Norsepower for wind retrofit Bulker Dietrich Oldendorff is to have three rotors fitted Evangelos Marinakis doubles up on liquefied CO2 carrier newbuildings at Hyundai Mipo Greek shipowner's carriers are the biggest to have been ordered to date Foremost linked to multiple sales as capesize S&P market fires up Just a few weeks after ordering modern kamsarmaxes, the Chao clan is shaking out at least two bigger, older bulkers Hayfin Capital opens $1bn war chest to order charter-backed bulkers from Japan Move is part of a planned series of investments Clarksons gives cautious backing to Euronav's 'intriguing' green shift after US analyst doubts Investment bank believes merger with CMB.TECH offers a play on the future of shipping Broker Mili Verma joins the board of M3 Marine's UK offshoot Robert Day-led operation brings in Singapore S&P specialist KCC primed for earnings hike amid soaring product tanker rates, DNB says Share price target raised by 27% to NOK 127 because of rate tailwinds Red Sea or refineries? Which will be decisive for product tankers, asks SSY Head of tanker research Claire Grierson identifies the trends shaping 2024 Clarksons raises concern over LNG rates as 2024 newbuilding deliveries set to smash record But Clarksons Research identifies factors that could offset impact of newbuilding armada Transport Capital 'shocked' after banker Oliver Faak dies at 58 Veteran German banker passed away suddenly after suffering a cardiac arrest, company says Evangelos Marinakis doubles up on liquified CO2 carrier newbuildings at Hyundai Mipo Greek shipowner's carriers are the biggest to have been ordered to date Nordic banking giant Nordea's shipping loan book reports 2023 fall Nordea's shipping book stood at $5.1bn at the end of last year Hunter eyes 'multi-year bull cycle' after taking VLCC charter gamble Norwegian operator talks up prospects for big tankers it has fixed in for three years Turkish pilot falls to his death while boarding vessel in Bosphorus Oguz Kok believed to have died of hypothermia in cold Istanbul waters Frontline sells oldest suezmax to Greek owner Moundreas amid climbing values Deal confirms analyst expectations that Fredriksen firm would continue getting rid of some vintage tankers Accused shadow fleet aframax sold for recycling for the second time As tanker Bradley heads to Pakistan for scrapping, two bulkers and a box ship set to meet same fate in Bangladesh NYK Line expects Red Sea crisis to boost bottom line in fourth quarter Japanese shipowner says tighter supply and demand conditions are resulting in higher market levels Weak container ship and bulker markets continue to hurt K Line Japanese shipowner gives little insight into how Red Sea crisis is impacting its bottom line SSY asks: Will big bulker momentum drip down to the smaller sizes this year? Shipbroker has a constructive outlook for 2024, but thinks dynamics between bulker segments could get interesting

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FEBRUARY 5, 2024

Red Sea turmoil drives Chinese exporters to rail, other alternatives A recent round of U.S. and British strikes raise fresh questions about the impact of container shipping in the Red Sea. Seacor Holdings sells Caribbean container shipping operations Seacor Holdings continues to pare down its shipping sector assets, most recently selling off its Caribbean container business.