DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2021– 082

Number 082 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Tuesday 23-03-2021 News reports received from readers and Internet News articles copied from various news sites & Social Media

The AHT LANPAN 26 navigating the Singapore Strait with the workbarge POE GIANT 6 Photo : Piet Sinke www.maasmondmaritime.com (c) CLICK at the photo & hyperlink in text to view and/or download the photo(s) ! Distribution : daily to 43.350+ active addresses 23-03-2021 Page 1 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2021– 082

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The 2011 built 57306 t DWT RHODOS navigating the Singapore Strait heading for Surabaya Photo : Piet Sinke www.maasmondmaritime.com (c) CLICK at the photo to view and/or download the photo ! Construction under way on Greater Changhua 1 & 2a offshore Taiwan Ørsted has kicked off the horizontal directional drilling to prepare for cable laying and scour protection works to make the seabed ready for foundation installation.

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Ørsted has started offshore construction activities for the 900-MW Greater Changhua 1 & 2a wind farms, 35-60 km (22-37 mi) off the coast of Changhua County, Taiwan.This year the company is expected to begin laying export and array cables and installing the offshore substations and foundations in 2021. Wind turbine installation is expected to start next year.The company has kicked off the horizontal directional drilling to prepare for cable laying and scour protection works to make the seabed ready for foundation installation. Onshore construction, including completing the civil works of the two onshore substation main buildings and the upgrade work of the hinterland at wharfs 36 and 37 at the Port of Taichung for storing key components for offshore installation is said to be progressing well.The offshore construction will be supported by a range of marine engineering, vessels suppliers, and personnel from home and abroad, according to the company. It is estimated that during peak times, there will be more than 25 vessels mobilized, including crew transfer vessels, installation and support vessels, service operation vessels, and guard vessels as well as 500-800 people working at sea.Construction is expected to be completed in 2022. Greater Changhua 1 & 2a offshore wind farms are projected to power more than 1 million households. Source : offshore mag

SKANDI KVITSOY outbound from Aberdeen Photo : Tony Moore © ALSO INTERESTED IN THIS FREE MARITIME NEWSCLIPPINGS ? CLICK HERE AND REGISTER FOR FREE !

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MSC took delivery of eight of these Hyundai 5000s in the early-mid 2000s, plus two improved and slightly different sisters, MSC FABIENNE and MSC POH LIN. Strangely, apart from the last two, only MSC NERISSA has been to Australia before until the arrival of the above seen MSC ANS on the revived Panda service from China. Photo : Dale E.Crisp (c) Contentious US-China talks put differences and animosity on display DIPLOMATS from the US and China accused each other of violations of trade rules and human rights in the first face-to- face meeting in Alaska since President Joe Biden occupied the White House. US Secretary of State Antony Blinken accused Beijing of undermining global stability, while his counterpart, Yang Jiechi, said the US wasn't "qualified to speak to China from a position of strength", reported Bloomberg. Mr Blinken said the US would "discuss our deep concerns with actions by China, including in Xinjiang, Hong Kong, Taiwan, cyber-attacks on the United States, economic coercion of our allies"."Each of these actions threaten the rules-based order that maintains global stability," he said, reported BBC News. Mr Yang countered: US not qualified to "speak from a position of strength" when criticising China, then accused Washington of using its military might and financial supremacy to suppress other countries. It abuses so-called notions of national security to obstruct normal trade exchanges, and incite some countries to attack China," said Mr Yang. He added that human rights in the US were at a low point, with black Americans being "slaughtered". National Security Adviser Jake Sullivan hit back, saying Washington did not seek a conflict with China, but added: "We will always stand up for our principles for our people, and for our friends. A senior US administration official said the talks were "substantive, serious and direct" and went beyond the allotted time. Mr Yang and his junior, Foreign Minister Wang Yi, had for weeks warned Washington that they wouldn't tolerate any foreign power crossing "red lines" like Taiwan and Hong Kong.Mr Yang and Mr Wang blasted the US, citing the killing of black Americans and the Black Lives Matter movement as evidence of American hypocrisy. China's Foreign Ministry spokesman Zhao Lijian sought to play down the combative posturing, reported Hong Kong's South China Morning Post. But as he left the meeting room, Foreign Minister Wang said: "The second round of talks was smooth, and we have discussed a lot of regional issues." Shi Yinhong, director of Renmin University's Centre on American Studies in Beijing, said both sides appeared to be hardening their positions on fundamental issues. While there might be some scope for collaboration on issues such as Iran, North Korea

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or Myanmar, he said, it was "quite, quite limited." Said former US commercial counsellor in Beijing William Zarit: "Most of these things are really to show strength in domestic politics here in the US. Perhaps it will give the Biden administration a little bit of leeway to start actually talking about issues, to start trying to come to some common understanding with the Chinese." Osprey takes delivery of 2 new TABmarine barges

2021 started well for Rotterdam based TABmarine. After the handing over of barge MAJA 11 in the first half of January TABmarine handed over 2 new built barges to Osprey Maritime Ltd., a UK headquartered major player in the field of engineering, logistics and heavy transport. Osprey Maritime Ltd. is operating barges, transport and heavy lifting equipment all over the world and is known as a turn key solution provider. The two sister barges, OSPREY BOUWER and OSPREY FABRIQUE, has been specifically designed to fit Osprey’s versatile fleet and are a welcome addition in the scheduled growth. Both Length, height and beam as well as the high deck strength of the barges give a lot of opportunities to operate the barges for all kind of transport and civil works in the most harsh conditions.

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TABmarine received the order for this newbuild’s in March 2020 and ex-yard China delivery was mid-November 2020. The barges were loaded November 17th 2020 and the barges arrived in Rotterdam the 2nd of January 2021. After some touch up- and installation works the barges have been handed over, within agreed budget, to Osprey Maritime Ltd. more than 2 Months ahead of schedule.

Barge details: ü L 50 meter, W 18,80 meter, H 3 meter ü Shaped bow and aft ü Deck strength 20 T/m2 ü Certified ABS with unrestricted sailing area ü 6 double bollards ü 3 tow brackets and 3 fairleads ü 2 Spud cans 1000 mm ü 2 spud poles with a length of 23 meter More information about our opportunities can be found at TABmarine’s website www.tabmarine.nl , more information about Osprey Maritime Ltd. can be found at www.ospreymarine.nl

Dredger SCHOTSMAN being taken care of by MULTRATUG 18 and MULTRATUG 1 after they encountered some technical issue. Vlissingen with the old Nautical College in a sunny background. Photo : René van Quekelberghe (c) OOCL changes intra-Asia loops affecting Philippines, China, Indonesia HONG KONG's Orient Overseas Container Line (OOCL), now a Cosco unit, has announced changes to its intra-Asia offering from April 18 with a feeder network to the Philippines.The new port rotation for the China Indonesia Service (CIS) will be

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Qingdao, Shanghai, Ningbo, Da Chan Bay, Jakarta, Surabaya, Port Kelang and back to Qingdao. The change involves changes to the China and Indonesia services, with the introduction of the new CIS service, which replaces the CIP service. This adds port calls to Qingdao and Port Kelang, while those to Semarang, Manila (South Port) and Hong Kong will be dropped. To maintain fast and direct linkage between the Philippines and Hong Kong markets, our Philippines Feeder 2 (PHF2) product will be resumed from Hong Kong on May 1, on the following rotation: Hong Kong, Manila North Harbour, Manila South Harbour and back to Hong Kong. Source : Schednet

Dry Bulk Market: Capesizes Gaining Momentum

The ML HERON anchored off Gibraltar Photo : Francis Ferro © Capesize A steady build for the Capesize market saw the 5TC lift $2,696 to settle the week at $19,437. The trajectory of gains appeared more sustainable this week as pressure continued to build on charterers. Significant tail winds are thought to be coming from the smaller sizes as they have continued their charge upwards this week. Unusual fixtures continue to be heard in the market as charterers have looked to Capesize vessels for respite from their own usual vessel classes. The fixing activity was largely centred around the middle of the week with Friday rumours of it being a softer day. The Pacific West Australia to China C5 remained largely resilient to the wider market throughout the week, only lifting slightly from $9.155 to $9.327. The Brazil to China C3, however, saw fixtures across its loading window which was in strong contango. C3 rates rose $3.2 to close the week at $21.75. Dry bulk FFA’s continue to be heavily traded as this past week saw some record volumes being registered. Panamax A momentous week for the Panamax market, with sharp rises witnessed on all spot trading at rates not seen for many years. With the FFA market ably supporting a strong outlook, healthy levels were agreed for period on forward delivery positions as well as the nearby position. An 82,000-dwt delivery Pacific in June agreed a rate of $22,000 six to eight months whilst a scrubber fitted 82,000-dwt delivery China end March achieved $26,000 for a similar period. In the

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Atlantic, trading was typically grain centric with the Americas lending robust support against a shrinking tonnage supply and rates advancing daily on all routes. Asia too saw strong rate increases as trade in the region reached new highs. Strong demand from NoPac saw rates soar through the $30,000 mark a few times. Charterers with Indonesia trips to China were forced to pay a premium with rates in the $40,000’s and increasing not uncommon.

Pacific Basin’s CHERRY POINT Departing Marsden Point with Logs for China Photo : Bryan Shankland © Ultramax/Supramax Split sentiment over the last week, whilst the Asian basin remained firm there was a slight softening from areas in the Atlantic – particularly the US Gulf. Period activity remained active. A 60,000-dwt open Dalian fixing five to seven months at $26,000, whilst a new building 63,000-dwt was heard fixed ex-yard for three years at $14,000. From the Atlantic, sentiment remained firm from east coast South America for the Ultramax size, which were seeing figures in the region of $20,000 plus $1 million ballast bonus for fronthaul trips. Elsewhere, from the US Gulf, a 56,000-dwt was heard fixed at $28,000 for two to three laden legs redelivery Far East. From Asia, a 63,000-dwt open north China fixed a NoPac round at $26,000. Further south a 61,000-dwt was fixed for a coal run delivery Gresik trip via Indonesia to west coast India at $26,000. Rates remained strong from the Indian Ocean a 63,000-dwt fixing at $19,500 plus $950,000 ballast bonus for a South Africa to Far East run. Handysize Overall it was slightly quieter in the Atlantic this week with limited activity in the Continent and slower pace in other key areas. Despite the level remaining high, east coast South America and the US Gulf showed signs of softening and had their biggest decline of the year so far. Period fixtures include a 32,000-dwt fixing from Sfax at approximately $17,000 for short period and a 34,000-dwt fixing from Israel for a year at $17,500 with redelivery in the Atlantic. Meanwhile, in the east, the timecharter average rates on the 3 Pacific routes are three times as high as they were during the same period last year. The surge was over $1,000 within a day on each route in the mid of the week. A 28,000-dwt delivery Kashima next week was fixed for a trip to Southeast Asia with steels at $28,000 mid-week. A 32,000-dwt delivery Kaohsiung was fixed for a trip via Japan to Singapore with cement at $30,000 earlier of the week. Source: The Baltic Briefing

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CS SILVER LINING is really a MPP but spends most of its life on the Australian coast as a bulk carrier, working for zinc producer Nyrstar and other metals/minerals companies. Since acquisition by INCO in 2013 the ship had retained the red hull of its original operator Swiss Container Line but returned from a recent drydocking in China with the same blue hull/red decks seen on INCO’s bunker tankers. Under its original name/ownership the vessel called Melbourne in November 2006 as SCL THUN when on charter to SE Asia-Australia breakbulk liner operator POST (Pacific Orient Sea Transport). ICS SILVER LINING occasionally visits Port Phillip Bay to bunker but on this trip came to berth to load on deck a very large hopper, destined for Nyrstar at Port Pirie. The hopper had arrived in Melbourne last weekend from NZ on the Swire trans-Tasman charter vessel SIDER JASMINE. Text / photo : Dale E.Crisp (c) Dry bulk equities – Beginning of a super cycle, or just an upswing? Dry bulk stocks were the best performers (up 50.3% YTD) among the sectors we cover and are pricing in 1.34x times NAV on average. The time-charter rates too are at a multi-year high. All these developments have created a buzz and around a potential market ‘Super cycle’. Arguments in favour of ‘super cycle’ 1. The current rally The mention of super cycle has increased consistently over the last fewS weeks, with the dry bulk shipping rates and stock prices providing evidence for the same. However, it is not just the spot rates and stocks, FFA traders have also reported extraordinary numbers.

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In the second week of February, the derivative dry freight market recorded the best week of the 21st century with trading notional volume exceeding USD 1bn, since more than 75,000 contracts were traded (data from FIS) across Capesize, Panamax and Supramax segments. As commodity prices are surging, many players have been caught short in the rally, thereby pushing volumes up in the short squeeze. This has been the case especially for the Panamax spot market, which has been the highest gainer among all vessel classes on a YTD basis.

The S-BREEZE receiving bunkers at the Singapore Eastern Anchorage last weekend Photo : Piet Sinke www.maasmondmaritime.com (c) CLICK at the photo to view and/or download the photo ! The current rally, which can be traced back to early December 2020, after a firm spot market in 3Q20, has defied the usual trend of seasonally weak first quarter. Larger vessels staged a comeback in 2020, which is now being supported in an equal vigour by the Panamaxes. For example, Diana Shipping (DSX), a mid to large vessel owner/operator under our coverage which fixes its vessels exclusively on long-term charter, has seen a spike in its fixtures. On 11 March 2021, DSX announced the time charter contract for its 2008-built Newcastlemax at USD 17,750pd (minus commissions) for 105 days, followed by USD 24,700pd (minus commissions) after 105 days at least until 15 January 2022. Compare that to a 6 March 2020 fixture, where Sideris GS, a 2006-built Capesize was fixed at least until 15 October 2020 at USD 12,700pd (minus commissions). A similar trend can be seen in Panamax fixtures. On 26 February 2021, DSX fixed a 2013-built Panamax at USD 16,500pd (minus commissions), much higher than its previous charter fixture at a gross rate of USD 10,800pd (minus commissions). 2. Vessel operators on a second-hand buying spree as orderbook touches historical lows Other economic factors, ranging from the weakening US dollar to the expectation of accelerating GDP thanks to the increased tolerance for a higher inflation have played their parts in boosting the overall sentiment for the commodity markets as well. While the demand for commodities has been on the rise, the supply of dry bulk vessels has been diminishing over the last decade. Nevertheless, the current orderbook paints a rather rosy picture for the dry bulk operators. While the orderbook is strained, major vessel operators under our coverage have been on a buying spree. An interesting observation about these second-hand transactions is that they are focused on mid-sized modern vessels, Ultramaxes and Kamsarmaxes to be more precise. As mentioned earlier, we expect more such deals to go through in the coming months. COVID-19 left cash-stripped operators like Scorpio Bulkers (now Eneti Inc) grasping for straws, leading to a flurry of vessel sales. Combine that with cash rich and fundamentally strong operators like Star Bulk (SBLK) and Pacific Basin (2343:HK) wanting to expand their fleet and subsequently their market presence, and we end up with a lot of vessel transactions. Second-hand vessel acquisitions provide for prompt delivery (usually within three to six months) and attractive prices at the moment along with the bandwidth of availability of funds with large operators makes a good case for higher transactions. As we mentioned in our 2020 report on SBLK (Star Bulk – Fortune Favours The Bold), the acquisition strategy involves funding a sizeable portion through issuance of new shares. SBLK still has a free float of just under 100mn shares, with the authorisation to issue up to 300mn common shares. The current multi-year high stock price of USD 16.18 (as of 12 March 2021) can help mop up funds should SBLK decide to issue shares. Pacific Basin, another such example, which uses a mix of debt and cash to finance its acquisitions, has reduced its net debt through 2020 (USD 714mn at end FY20 as compared with USD 758mn at end FY19). This is in turn leading to a larger, stronger asset base, upward-revised NAVs and multi- year high stock prices. 3. China and Chinese policies working the market

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The growth in charter rates has been led by various direct and indirect drivers, including global optimism after the success of various vaccines and an ultra-loose monetary policy in major economies. The various stimuli packages, especially from the Chinese government, focused primarily on infrastructure development which drove iron ore demand. This was further aided by the increasing soya imports. In the first two months of 2021, grain trade between the US and China surged to 28.0 million tonnes from 16.6 million tonnes in the same period of 2020, benefiting mid-sized vessel operators. For example, Pacific Basin (2343:HK), Hong-Kong based mid-sized vessel owner/ operator under our coverage, reported head-turning numbers in its latest annual report (FY20).

The UNITY SPIRIT receiving bunkers from the VITALITY at the Singapore Eastern Anchorage last weekend Photo : Piet Sinke www.maasmondmaritime.com (c) CLICK at the photo to view and/or download the photo ! 4. Political dispute between Australia and China The political dispute between Australia and China is another factor that helped the tonne miles, but not so much the seafarers. As of end February 2021, with the relations between the two countries going from bad to worse, the number of vessels carrying Australian coal stranded at Chinese ports was still as high as 48 (11 Capesizes and 37 Panamaxes). Shipping associations and unions have been urging governments to resolve the standoff at the Chinese coastline, where it is estimated that as many as 75 vessels were stranded at one time. While behind-the-scenes negotiations have seemingly led to the softening of the dispute and freeing up of some vessels, trade relations remain strained. This conflict however had a positive impact on the overall dry bulk shipping. While Australia is now exporting coal to India and Japan, which provide for a greater tonne-mile demand, China is also diversifying its coal import sources to farther off countries like South Africa, thereby increasing the tonne-mile demand. Capesize is not the only vessel class to benefit from China-Australia tensions, as even Panamax vessels were in greater demand after China imposed a tariff of 80.5% on Australian barley in May 2020 and the former imported higher quantities of barley from Argentina and Ukraine. Australian barley exports to China fell from 3.9mn tonnes in 2018 to 1.2mn tonnes in 2020, compensated by the 257% YoY increase in Argentinian barley and 180% YoY increase in Ukrainian barley during the same year. This has helped the mid-sized segment as much as the coal ban helped the Capesize and Panamax segments. Arguments against ‘super cycle’ 1. Rising oil prices The oil price has been rising recently to reach around USD 70 per barrel. The rise has been supported by production cuts by major oil producers and optimism about demand recovery in 2H21. However, the outlook for oil in the long run isn’t as rosy as it used to be, with many international agencies now believing that oil’s best days are behind it. However, in the short run, oil prices have a decent outlook amid the production cuts and political tensions. Oil prices play an important role in dry bulk trade. First, higher oil price will decrease energy production, leading to higher extraction/mining cost for most commodities and thereby raising the raw material prices. When the cost of raw material

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such as coal, increases, its trade becomes expensive. Second, higher oil prices (bunker prices) result in more expensive long-haul shipments, a cost which operators try to pass on to the charterers. In the current context, it may dampen import demand too, especially in the major dry bulk markets such as China and India given both the countries have the ability to draw down on inventories built up during the price war between China and the US as well as the spread of the pandemic in 2020. 2. Second wave of COVID – a major dampener for economic recovery Despite the ongoing vaccination drives, many countries are experiencing the second wave of the virus with some countries imposing lockdowns while others contemplating possible restrictive measures. France closed its borders for all non-EU countries from 31 January 2021 even as parts of the country are under weekend lockdowns and other restrictions in addition to the national night curfew. With cases rising in Greece since January, which include Athens, saw new lockdown measures were put into place with the shutdown of non-essential services. Czech Republic is also imposing tighter lockdown restrictions. Additionally, the increasing number of cases in Italy, Spain, and Belgium could put the brakes on economic recovery, and consequently hurt trade and vessel operators in the process. Conclusion Despite increasing evidence of an upswing in dry bulk shipping, market players are divided on the duration of this upswing, and whether it can qualify as a super cycle. Some expect it to fizzle out in three-to-five months, with others expecting it to phase out in three-to-five quarters, while a percentage expects it to last for as long as until 2023. Everyone however holds consensus that it is a great time for dry bulk shipping and its equity shareholders. Source: Drewry

The SUNLIGHT EXPRESS arriving at Marsden Point Photo : Bryan Shankland (c) Freightos Baltic Index: USWC rates slip as USEC rates rise slows

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RATES on from the congested Asia-US west coast have fallen 13 per cent from a February high while east coast rates have fallen five per cent, though still posting 16 per cent higher growth than at the end of 2020, noted the Freightos Baltic Index. Easing may be due to importers shifting orders from LA/Long Beach to other ports, just as carriers are adding new Asia-US east coast services too. "Spot rates may be starting to reflect that shift. Asia-US west coast prices have now fallen 13 per cent from their February high, and are just 11 per cent higher than their May-December plateau rate," said the FBX Weekly report.Meanwhile, Asia-US east coast rates increased last week. They are just five per cent below their January peak, and are 16 per cent higher than they were in December.Strong demand on the transatlantic has pushed ocean rates up 20 per cent since the end of January, said the report. China-US west coast prices (FBX01 Daily) fell five per cent to $4,292/FEU. This rate is 224 per cent higher than the same time last year. China-US east coast prices (FBX03 Daily) increased six per cent to $5,716/FEU, and are 125 per cent higher than rates for this week last year. "Port congestion and delays are still a problem at the port of LA/Long Beach, and all indications are that there won't be any meaningful decrease in ocean freight demand in the near future," said the report. Though February Asia-US import volumes were down 18 per cent from January, they were still at about peak pre-Chinese New Year levels, and March volumes were expected to be up month on month, it said. 8 Boats in North Natuna Sea, Madura Waters Caught

Fishermen prepare to load their cargo on their ships in the waters of Pulau Laut, Natuna Regency, Riau Islands, November 9, 2020. Natuna Regency has a beautiful nature with white sand beaches combined with clear sea water and coral reefs, making the island with a majority population of Malay ethnic groups. tourism potential. ANTARA PHOTOS / ADITYA PRADANA PUTRA The Maritime Affairs and Fisheries Ministry (KKP) caught eight Indonesian-flag fishing boats committed operational violations in North Natuna Sea and Madura waters. Seven of them allegedly violated the fishing area (DPI) policy, while the other one nabbed for carrying out illegal transshipment. “During the surveillance operation on March 18-19, the KKP’s Fishery Monitoring Ships secured eight boats violating operational regulations,” said the Acting Director-General of Marine and Fisheries Resources Supervision, Antam Novambar, in a written statement on Sunday, March 21. The seven boats were KM. Surya Jaya Indah 08 (58 GT), KM. Garuda Hasil (46 GT), KM. Darmawan Mina Abadi (45 GT), KM. Teguh Harapan V (82 GT), KM. Sumber Sejati Baru 2 (35), KM. Adi Daya-V (95), and KM. Lake Toba Permai (60 GT). These ships, Antam explained, used cast net fishing gear that was supposed to operate in the Java Sea, the Malacca Strait, and the Indian Ocean. “This violation would lead to overexploitation in one of the Fisheries Management Areas (WPP).” Apart from the seven vessels, the monitoring boat Hiu 09 conducting surveillance patrols in Madura waters also arrested one carrier ship identified as Wira Samudra B (124 GT) over alleged illegal transshipment as it could not present a license and equipped with an observer as required. Throughout 2021, the KKP has thus far captured 46 illegal fishing vessels which six of them were Malaysian-flagged boats. Source : tempo

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The AFON WEN with the PRINS 5 enroute from Cuxhaven to Terneuzen Photo : Wim Kosten (c)

Are Carbon Capture Ships The Future? The shipping industry, together with engine manufacturers and oil companies are actively pursuing new technologies to reach the environmental goals set forth by global regulators. Within that context, one of the technologies which could be groundbreaking, is that of carbon capture. In its latest weekly report, shipbroker Gibson said that “in some ways, EU carbon prices could be viewed as a barometer of mounting environmental pressure not just within Europe but on a global scale. Recently, EU emissions trading scheme (ETS) credits have surged to record levels, trading above €42 this week, rising by more than tenfold from a typical €4 – €8 range seen between 2012 and 2018. As with many other sectors, the oil industry is under increasing scrutiny, with oil majors adapting their strategies to focus on reducing carbon intensity and pledging to become carbon neutral by 2050. Yet, the routes taken to achieve these goals vary. While many European companies are pivoting towards renewables, many US based companies are taking a somewhat different approach”. According to Gibson, “ExxonMobil is focusing more aggressively on carbon capture and storage. Through its new business, ExxonMobil Low Carbon Solutions, the company is advancing plans for more than 20 new carbon capture and

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storage (CCS) opportunities around the world. ExxonMobil argues that carbon capture with underground sequestration is a more cost-effective emissions reduction strategy than electric vehicles, carbon pricing and low-carbon fuel credits, based on the US’ 45Q tax credit. ExxonMobil is not alone in its approach. Occidental Petroleum wants to make carbon capture a central part of its long-term emissions reduction strategy and plans to build the world’s first largescale facility to capture carbon dioxide directly from the air and then pump it into the ground for storage or to enhance oil recovery. In late January, a subsidiary of Occidental Petroleum, Oxy Low Carbon Ventures, delivered two million barrels of “carbon- neutral oil” to Reliance Industries in India. Occidental said the volume of offsets applied against the cargo was sufficient to cover the expected GHG emissions from the entire crude lifecycle including oil extraction, transport, storage, shipping, refining and subsequent combustion. These offsets were sourced from a variety of projects verified under the Verra Verified Carbon Standard program. Carbon capture is also on the strategic agenda for Chevron, with the company pledging to increase its low carbon spending to over $3 billion by 2028, with over $1 billion dedicated to investment in carbon capture and storage”.

The PATNOS outbound from Rotterdam Photo : Dirk Nootenboom (c) “It is not only oil companies that are making inroads into this area. Mitsubishi Heavy Industries has rolled out plans for a CO2 carrier design. These carriers will support the potential market demand from CCS projects for CO2 transportation and storage. Stena Bulk has partnered with the Oil and Gas Climate Initiative (OGCI) to examine the potential for carbon capture from ships at sea. Teco 2030 has unveiled a super-scrubber system; Future Funnel, which will allow ships to reduce SOx, NOx, black carbon and particulate matter emissions and will also have carbon capture and storage capabilities. Wartsila is also planning to trial carbon capture on vessels using scrubbers”, Gibson added. “Scientists have long argued that carbon capture is essential in meeting carbon goals. According to the IEA, a sharp rise in the deployment of carbon capture, utilisation and storage technology is needed globally if countries are to meet net-zero emissions targets designed to slow climate change. For shipping, particularly for tanker shipping, carbon capture is an interesting idea. Not only will it help to achieve IMO2030 and 2050 targets, but also offers a concept of cleaner and potentially carbon neutral cargoes. At the moment carbon capture is an expensive process, but if production is scaled up, costs could come down substantially as in the case with solar panels and wind turbines. Undoubtedly, the technology has a potential of becoming revolutionary, not just for oil companies but for shipping as well. Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide RNLI Sennen Cove Lifeboats rescue three casualties in the water. On Saturday 20 March at 10.00 am, Sennen Cove Lifeboat Station received a request for assistance from HM Coastguard Falmouth, following reports of three casualties in the water off Porthchapel, near Porthcurno Both lifeboats, the D class inshore lifeboat AMY BROWN (ILB) with 3 crew on board, helmed by Nick Hitchens, and the all weather Tamar class lifeboat CITY OF LONDON III (ALB) with 6 crew on board, skippered by Second Coxswain, Dan Shannon, launched within five minutes of the crew’s pager alert and made all speed to Porthchapel.On arrival, they found three persons in the water. They were out from the shore and unable to get back in. Two of the casualties were supporting the third who

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was in danger of drowning. Time was of the essence, since the water was cold, and the ILB crew got them out of the water as quickly as possible, and transferred them to the ALB.In the meantime, it transpired that a young lady had fallen down the cliff path, and sustained head injuries. Luckily, the Land's End Cliff Rescue Team and the Coastguard Search and Rescue helicopter 924 had also been tasked to the scene, and so the lifeboat crews could safely leave her in their care, and were able to return to the station.The three casualties were taken into the station. They were examined by the Land Ambulance paramedics, who were waiting for them. The paramedics were satisfied that the three casualties were well and did not need to be taken to hospital. By 11.30 am both lifeboats were recovered. The Second Coxswain, Dan Shannon said that the crews had acted quickly and efficiently. " We are very pleased with the good outcome. At least one life saved, if not three." Source : RNLI

Two cats: JEAN DE LA VALETTE and HSC ARTEMIS moored at Malta Photo : Michael Cassar (c) It looks like a Greek ferry company bought Majesty of the Seas

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By: Matt Hochberg Remember when Royal Caribbean announced it sold MAJESTY OF THE SEAS in December 2020? We may know the owner now.Royal Caribbean did not disclose the buyer at the time of the sale in December, but through maritime records it now appears we know the owner. The listing for Majesty is now operator/manager of 'Eaglepower Shipping Ltd' aka . Seajets is a Greek/Cypriot ferry company that bought a lot of ships from British cruise line Cruise & Maritime Voyages (CMV). SeaJets plans on sailing them in inter Greek trips or turning them around and selling to a third party. has been purchased by Indian cruise Cordelia Cruises, but Majesty's owner has not announced its purchase. When Royal Caribbean sold both ships, they did not disclose who bought it.The ship was last spotted in Piraeus, Greece. MAJESTY OF THE SEAS was the last Sovereign Class left in Royal Caribbean's fleet, and joined the fleet in 1992. Majesty has sailed a variety of routes in the Caribbean, having sailed from many homeports to different destinations. Most often, she sailed from somewhere in Florida and offered short cruises to the Bahamas and Caribbean. She was only one of two Royal Caribbean ships to visit Cuba in the limited time Americans could visit the island. Royal Caribbean International President and CEO Michael Bayley was vocal in his admiration and sorrow following the decision to sell Majesty and Empress of the Seas, "Saying goodbye to these two beloved ships is a major moment in Royal Caribbean’s history – one that is difficult but necessary." Source : royalcaribbeanblog

The LILI arriving in Gibraltar Photo : Francis Ferro © 15th Anniversary Symposium of ReCAAP “Enhancing Regional Cooperation: 15 years and beyond” ReCAAP Contracting Parties and ReCAAP Information Sharing Centre (ISC) organised today a 15th Anniversary Symposium with the theme of “Enhancing Regional Cooperation: 15 years and beyond,” on virtual platform. The symposium was organised to mark 15 years of regional cooperation against piracy and sea robbery in Asia (programme in Annex). The symposium was joined by 20 ReCAAP Member Countries, the shipping industry, the diplomatic community as well as academia and research institutes. In his Welcome Address, Singapore Minister for Transport, His Excellency Mr. Ong Ye Kung emphasised the need for the global community to exercise collective responsibility to protect global commons like the Straits of Malacca and Singapore, and recognised the ReCAAP ISC as a vital part of the regional anti-piracy architecture for international cooperation against a transboundary problem.ReCAAP Contracting Parties and ReCAAP Information Sharing Centre (ISC) organised today a 15th Anniversary Symposium with the theme of “Enhancing Regional Cooperation: 15 years and beyond” to mark 15 years of regional cooperation against piracy and sea robbery in Asia Mr. Ong added, “Singapore is honoured to have played an active part in the ISC’s development over the years and will continue to work with the Contracting Parties of ReCAAP in giving the centre our strongest support.His Excellency Mr. Kitack Lim, Secretary General of the International Maritime Organization, stated in his Keynote Address (video), “I would like to encourage ReCAAP to strengthen your efforts in capacity building to help promote and share your experience and

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achievements with other regions. I am certain that your successful experience can help parties in other regions to further enhance their capacity of an effective information sharing mechanism.” The representatives of ReCAAP Member Countries (Japan and India), and a shipping association (Federation of ASEAN Shipowners Association) made presentations on their perspectives, affirming their commitment to enhancing maritime safety in Asia.Other highlights of the symposium included a presentation on “15 Years’ Analysis of Piracy and Sea Robbery Incidents in Asia” by Mr. Masafumi Kuroki, Executive Director of ReCAAP ISC, as well as a panel discussion on “The Future of ReCAAP” moderated by Professor Max Mejia of World Maritime University and participated by representatives from ReCAAP Member Countries (Norway and Singapore), a shipping association (INTERTANKO) and a research institute (National Graduate Institute for Policy Studies, Japan), as panellists. “The 15th Anniversary Symposium has provided the ReCAAP Contracting Parties and the ISC with a good opportunity to reflect on the journey we have taken collectively, reconfirm the commitment to our shared mission, and deliberate on the way to pursue the mission of ReCAAP in the future amid changing environments. The commitment and support by all the ReCAAP Member Countries, partners and stakeholders will spur the ISC to further strengthen its work to enhance the maritime safety in Asia.” said Mr Kuroki, Executive Director of ReCAAP ISC. Source: ReCAAP Information Sharing Centre (ReCAAP ISC)

Independent International Offshore Towage & Salvage Consultants and Brokers, Chartering of Tugs, Offshore Support and Specialised Vessels (offices in London and Singapore) Telephone : +44 (0) 20 8398 9833 Facsimile : + 44 (0) 20 8398 1618 E-mail : [email protected] Singapore : +65 62263084 [email protected] Internet : www.marint.co.uk

The CALLAO EXPRESS outbound from from Antwerpen passing Rilland Bath. Photo : Rob van den Houten © MOL to move into ocean shipping of liquefied CO2 ocean transport business through investment in Norway's Larvik Shipping AS

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Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) said that it has decided to invest in Norway-based Larvik Shipping AS, a ship management company for liquefied CO2 carriers, marking MOL's first foray into the liquefied CO2 ocean transport business. Liquefied CO2 ocean transport plays a key role in carbon dioxide capture utilization and storage (CCUS) value chains as a means of effectively connecting collection sites with storage or usage sites. CCUS is drawing attention as a technology to collect and store CO2 or use it effectively, and a step toward realizing a low-carbon society. According to a report by the International Energy Authority (IEA), CCUS targets a 15% reduction in cumulative CO2 emissions by 2070. This is expected to contribute to a reduction of about 6.9 billion tons per year when carbon neutrality is achieved. Larvik Shipping has managed industrial liquefied CO2 tankers serving Europe for over 30 years, and has a strong track record in safe transport of liquefied CO2 and extensive cargo-handling know-how. MOL will soon enter the liquefied CO2 ocean transport business, which is positioned for significant growth in step with the increasing adoption of CCUS. MOL will contribute to further expansion of the business by combining its accumulated expertise and technological capabilities in safe operation with Larvik Shipping's knowledge and solid experience. Both companies will discuss the adoption of larger ships with an eye toward expanding both upstream and downstream and in the CCUS value chain. MOL continually focuses on "Promotion of environmental strategies and development of emission-free business into a core business," as stated in the Rolling Plan 2020 management plan, to contribute to the achievement of a decarbonized society. Source : portnews

The SEA COMMANDER at the Everingen Anchorage at the Westerschelde Photo : Mateo Witte ©

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The TAMPA TRIUMPH inbound for Rotterdam Maasvlakte. Photo: Patrick Deenik © UK ports industry calls on UK administrations to prioritise industry over politics Ahead of the Welsh and Scottish elections on May 6, and the approaching period of purdah on March 25, the BPA has called for a four-nation approach to ensure ports in the devolved administrations are not disadvantaged by a significant delay behind the English Freeports. Concerns have been raised following a letter sent to industry stakeholders yesterday by Ivan McKee MSP, Minister for Trade, Innovation and Public Finance, which implies that any delay to Scottish Freeports has been brought by the UK Government and their hesitancy to approve a number of the Scottish Government’s key criteria. The Scottish ports industry has now been left with questions about how Freeports will develop in Scotland after McKee’s comments, as he states that the Scottish Government "will conclude that the UK Government has effectively withdrawn from this process" if they have not confirmed the applicant prospectus can be launched by close of business on Monday 22 March. Industry has not been party to a response from the UK government. This follows word fed to industry this week that the Welsh Government is not going to be in a position to make a statement on Freeports before the election. We were disappointed to hear this news and had previously written to the Chief Secretary of the Treasury in support of the Welsh Governance on their representations for ports in Wales and to urge time sensitivity. Indeed, the BPA has remained firm throughout discussions on Freeports that principles of fairness and inclusivity are critical to the success of the policy. The industry is market-led and a level playing field for ports across the administrations to compete with one another is critical. Unless timescales are aligned, there could be a greater risk of economic displacement away from areas waiting for a Freeport designation. This would be to the detriment of UK ports and the coastal communities in which they operate. The BPA wrote to ministers in England, Scotland and Wales in November 2020 to note the time-sensitivity of Freeports proposals and to ask them to remain sentient of further delay should discussions not conclude before purdah begins ahead of the elections. Commenting, Richard Ballantyne, Chief Executive at the British Ports Association said: "The BPA has been supportive of the concept of Freeports across the UK and believes they can be a force for immense good – socially and economically - if implemented properly and fairly. However, there are legitimate fears amongst ports in many of the devolved administrations that they will miss out and be left behind." "Developments this week suggest potential deadlock between administrations regarding progressing to the bidding rounds within the devolved administrations. We are asking Government to consider the importance of ensuring the level-playing field is not disrupted and Freeports are set up on an even keel and awarded an equal amount of seed funding." "Ports have also spent significant time and money in anticipation of bidding - Governments of all administrations owe them certainty and must not allow them to get caught up in political tension.""It is also now clear that the arbitrary cap of locations is causing a real issue. Ports in the devolved administrations are keen to catch up with the English process while a number of unsuccessful and non designated locations in England would like to benefit from many of the regulatory easements to avoid any market distortion."The BPA itself represents 43 out of the 50 major port locations in the UK and our membership accounts for 86% of all tonnage and includes all the major port operators in Scotland, Wales and Northern Ireland and many more. Source : Portnews

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SANTA LUCIA and SANTA ELENA moored at Malta 18/3/2021 photo : Michael Cassar ©

The ASKHOLMEN outbound from Rotterdam Photo : Dirk Nootenboom © Icebreaker assistance period ends in Vanino port The water area of Vanino port (Khabarovsk Territory) and the approaches to it are almost ice-free by mid-March 2021. The port’s Harbour Master has signed the Order to finish the period of icebreaker assistance in the port and at the approaches to it from 19 March 2021, says press center of the Okhotsk Sea and Tatar Strait Ports Authorities. The icebreaker assistance period began in Vanino on 7 January 2021. The assistance was provided by the icebreakers of FSUE Rosmorport: the Moskva icebreaker which came to Vaanino on January 14 escorted three ships to the port and four ships out of the port; the Novorossiysk icebreaker was involved in 20 operations. Maximum icebreaker escort distance was

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36.75 miles, maximum operation time - 5 hours 45 minutes. The last icebreaker escort operation was completed by the Novorossiysk icebreaker on February 19. NAVY NEWS THAI NAVAL GROUP PASSED SINGAPORE STRAIT Last Sunday 4 Thai navy ships enroute from Satahip Naval base to Phuket passed with a speed of 15,5 knots the Singapore Strait, the group consisted out of the Frigates 422 TAKSIN , followed by the 442 SUKOTHAI , and the third unit was the 911 CHAKRI NARUEBET and the 552 PRACHUAP KHIRI KHAN closed the row, today we have a look at the 422 TAKSIN & 442 SUKHOTAI, and tomorrow the other two units.

The group was lead by the 1995 delivered Naresuan-class frigate 422 TAKSIN a modified version of the Chinese-made Type 053 frigate, cooperatively designed by the Royal Thai Navy and China but built by the China State Shipbuilding Corporation in Shanghai. The ships came at 2 billion baht each, less than the 8 billion baht claimed price tag for Western-built frigates. On 3 June 2011, Saab announced that it was awarded a contract for the upgrading of the two Naresuan class frigates. The scope of the upgrade included Saab's 9LV MK4 combat management system, Sea Giraffe AMB, CEROS 200 fire control radar, EOS 500 electro-optics system and data link systems for communications with the newly acquired Royal Thai Air Force Erieye surveillance aircraft The displacement of the Naresuan-class frigate is 2,985 tons full load and the units are having a length of 120.5 mtr and beam of 13,7 mtrand are powered by 2 × General Electric LM2500 gas turbines and 2 × MTU 20V1163 TB83 diesel engines, driving two shafts with controllable pitch propellers in CODOG configuration. For a max speed of 32 knots (59 km/h) max with a a range of 4000 nmi(7408 km) at 18 kn and are operated by a crew of 150 pax Sensors and processing systems Saab Sea Giraffe AMD 3D surveillance radar Thales LW08 long range search radar Raytheon AN/SPS-64 Navigation radar

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Selex IFF SIT422CI&M425 Saab 9LV Mk.4 with Saab TIDLS combat management system 2 × Saab CEROS 200 Fire Control Radar Atlas DSQS-24d sonar Electronic warfare & decoys: ESM ITT ES-3601 (AN/SLQ-4) ECM Type 984-1 noise jammer&Type 981-3 deception jammer Decoys Terma SKWS (C-Guard)

Armament: 1 × 5 in/54 (127 mm) Mk-45 Mod 2 naval artillery gun 2 × 30mm MSI-DSL DS30MR automated small calibre gun 8 cell Mk.41 vertical launch system for 32 x RIM-162 ESSM 8 × RGM-84 Harpoon SSM launcher 2 × triple 324 mm Mk-32 Mod.5 tubes Aircraft carried: 1 x Super Lynx 300 Ships in the class Name Number Builder Launched Commissioned NARESUAN 421 China State Shipbuilding Corporation July 1993 15 December 1994 TAKSIN 422 China State Shipbuilding Corporation 1994 28 September 1995 The 422 TAKSIN was followed by the 1987 delivered Ratanakosin-class guided missile corvette 442 SUKOTHAI The Ratanakosin-class corvettes are a class of two corvettes that were built for the Royal Thai Navy in the 1980s. Constructed in the United States, a third was planned to be built in Thailand, but was canceled before construction could begin. The Ratanakosin class is used as flagships for squadrons of fast attack craft. Both ships remain in service. The Ratanakosin class is based on the Saudi Arabian Badr-class design. They have a normal displacement of 840 metric tons (830 long tons) and 960 t (940 long tons) full load. The corvettes measure 76.82 meters (252 ft 0 in) long with a beam of 9.55 m (31 ft 4 in) and a draft of 2.44 m (8 ft 0 in). The class is powered by MTU 20V1163 TB83 diesel engines each driving one shaft rated at 12,000 kilowatts (16,000 bhp). This gives the vessels a maximum speed of 26 knots (48 km/h; 30 mph) and a range of 3,000 nautical miles (5,600 km; 3,500 mi) at 16 knots (30 km/h; 18 mph). The ships have a complement of 15 officers and 72 enlisted.

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The class is equipped with one Decca 1226 and one HSA ZW-06 surface search radar, one HSA DA-05 air/surface search radar, one HSA WM-25 fire control radar, one HSA LIROD-8 optical fire control system, and one STN Atlas DSQS-21C hull- mounted sonar.

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The corvettes are armed with two quad launchers for eight RGM-84 Harpoon surface-to-surface missiles (SSM) and one octuple Albatros launcher for 24 Selenia Aspide surface-to-air missiles (SAM). Furthermore, the vessels are armed with one Otobreda 76 mm (3 in) gun, two Bofors 40 mm (1.6 in) guns in a twin Otobreda mount and two 20 mm (0.8 in) Oerlikon GAM-B01 cannon. The Ratanakosin class is also equipped with two Mark 32 triple torpedo tubes for Sting Ray torpedoes.

The Royal Thai Navy ordered the two corvettes from the Tacoma Boatbuilding Company in Tacoma, Washington, United States on 9 May 1983. The lead ship was laid down on 6 February 1984. Named RATANAKOSIN, the vessel was launched on 11 March 1986. The second ship in the class was laid down on 26 March 1984. Named SUKHOTHAI, the vessel was launched on 20 July 1986. RATANAKOSIN was commissioned on 26 September 1986 and SUKHOTHAI on 19 February 1987. The third ship, which was planned for construction in Thailand, was canceled before construction began. This was due to increased interest by the Royal Thai Navy in Vosper Thornycroft's design that became the Khamronsin class. Ships in the class Name Number Builder Laid down Launched Commissioned RATANAKOSIN 441 Tacoma Boatbuilding USA 6 February 1984 11 March 1986 26 September 1986 SUKHOTHAI 442 Tacoma Boatbuilding USA 26 March 1984 20 July 1986 19 February 1987 Photo’s : Piet Sinke www.maasmondmaritime.com (c) CLICK at the photo’s & hyperlinks in text to view and/or download the photo(s) !

SHIPYARD NEWS

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Euro carrier JIF MAIRI Fitting out at Aalst (NL) Photo : Rob Sorensen ©

The Libyan Coastguard Patrol Craft 206 AL KIFAH shifting for drydocking at Melita Shipyard, Grand Harbour, Malta on Saturday 20th March, 2021. Photo : Capt. Lawrence Dalli - www.maltashipphotos.com ©

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ROUTE, PORTS & SERVICES

The MULTRATUG 29 & BOMMEL with in the background the ISLAND EMPRESS & ISLAND ENDEAVOUR moored in the port of Den Helder Photo : Roy Flem (c) Navigation season opens on the Saimaa Canal The remaining ice will be broken by tug boat CALYPSO Navigation on the Saimaa Canal opened on 22 March 2021, the Federal Marine and River Transport Agency (Rosmorrechflot) says on its Instagram page. The detachable bow Saimaa, owned by the Finnish Transport Infrastructure Agency, operating together with the tug boat CALYPSO will break the remaining ice. The first ship expected to pass the Saimaa Canal this season is PINTA (the flag of Gibraltar) sailing from the Latvian port of Klaipeda to the Finnish port of Imatra.Over the six weeks of the internavigation period, the Finnish specialists conducted scheduled repairs at both Russian and Finnish parts of the Saimaa Canal.The Saimaa Canal navigation season ended on 8 February 2021. As it was reported earlier, the volume of cargo carried by the Saimaa Canal in January-December 2020 grew by 11.5%, year-on- year, to 1.17 million tonnes. In the navigation season of 2020, the canal was used by 1,019 cargo ships, 10% more, year- on-year. The number of ships flying the flag of the Russian Federation makes 59% of the total number (596). It grew by 21.4%, year-on-year. Due to coronavirus restrictions, there was no recreational or passenger vessel traffic in the canal during 2020. Modernization of the Saimaa Canal is to be held between April 2022 and October 2024. During the construction works, the traffic of ships will be suspended from May 2022 till May 2023 and from October 2023 and May 2024. The Saimaa Canal connects Lake Saimaa to the Gulf of Finland. Nearly half of the Saimaa Canal runs through a land

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area leased from Russia. The eight locks of the Saimaa Canal are operated via remote control centres at Mälkiä and Brusnitchnoe. The Saimaa Canal built in 1856 and renovated in 1963-1968 is 57.3 kilometers long including the sea fairway. 23.3 kilometers of it is within the territory of Finland with 34 km in the territory of Russia (including 14.4 kilometers of the approach channel in the Vyborg Bay). Finland rents 19.6 km of the Russian part of the canal. The most recent agreement entered into force in 2012 and expires in 2063. Source : portnews New contract for VOS Pathfinder

The VOS PATHFINDER photo : Tjibbe Bruinsma © Vroon Offshore Services (VOS) is pleased to announce that Aberdeen-managed emergency response and rescue vessel (ERRV) VOS PATHFINDER has been awarded a contract with PSE Kinsale Energy Limited (KEL) for an estimated duration of eight months. The 2008-built, IMT-design, twin-daughter-craft ERRV will support KEL’s decommissioning campaign at the Kinsale Area Gas Fields offshore Ireland, which is anticipated to start in earlyApril . VOS PATHFINDER , which will note 13 years’lost-time-injury (LTI) free this April, continues to be a vessel of choice owing to her excellent safety performance and fuel efficiency. VOS Aberdeen is proud of the outstanding performance delivered over the years by our on-board crews. Liebherr Container Cranes Ltd. Strengthens North American sales and service through closer integration with local Liebherr companies. - Liebherr USA Co. and Liebherr-Canada Ltd. formalise sales and service set-up with Liebherr Container Cranes Ltd. - Improved service and support for Liebherr customers. Liebherr Container Cranes, a part of the Liebherr Maritime Cranes division has strengthened its sales and service presence in North America.Liebherr divisions such as Construction and Earthmoving utilise the worldwide Liebherrnetwork of sales and service companies to provide sales and service to its customers. Liebherr Container Cranes has traditionally managed sales and service from its base in Ireland. Now, as part of a programme of localised customer care, Liebherr Container Cranes has formalised its sales and service presence via Liebherr USA Co. and Liebherr-Canada Ltd. The enhanced presence means that customers will benefit from closer and more personal support through a localised approach to sales and service. Liebherr Container Cranes will provide expert advice from their facility in Ireland, but day to day customer support and spare part supply will be coordinated from Liebherr Canada and Liebherr USA. Explaining further, David Griffin, Managing Director – Sales at Liebherr Container Cranes said “‘Liebherr USA and Liebherr Canada are very successful and advanced Liebherr sales and service companies with well-established teams for our maritime business. It makes absolute sense for us to be closer to our North American client base with local personnel and resourcing. The factory in Killarney, Ireland is very excited about this huge advantage we can offer to our existing and potential customers in both the USA and Canada. Moves like this will allow us to ramp up in other respects at the factory, increase customer

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satisfaction and continue our long-term growth strategy”. Liebherr Container Cranes has a long tradition of crane supply to North America with one of the first Liebherr ship to shore container cranes supplied to Montreal in 1973. Since then Liebherr has continued to supply ship to shore and container stacking cranes to its customers in the US and Canada. Singapore’s Jurong Port completes purchase of Lim family’s stake in Universal Terminal Singapore port operator Jurong Port has completed its acquisition of a stake in a major oil storage terminal in the city- state from the family behind collapsed oil trader Hin Leong Trading Pte Ltd, a port spokesman said on Saturday. The spokesman said government-owned Jurong Port had completed the purchase of a 41% stake in Universal Terminal from the Lim family. He declined to give details on the transaction.A lawyer for the family did not immediately respond to a Reuters email seeking comment.The deal marks the sale of the crown jewel among oil and shipping assets owned by oil tycoon Lim Oon Kuin, his son Evan Lim Chee Meng and daughter Lim Huey Ching. It comes nearly a year after Hin Leong, once Asia’s largest oil trader, racked up some $4 billion in debt and entered court restructuring.Earlier this month, Singapore’s High Court approved the winding up of Hin Leong. Reuters reported in February that Jurong Port was set to take over the Lim family’s shares in Universal Terminal. The family managed and owned the stake through Universal Group Holdings.A previous sale of a stake in the terminal in 2016 valued the whole terminal at more than $1.5 billion, industry sources said at the time. PetroChina International (Singapore) owns 25% of the terminal while MAIF Investments Singapore, a unit of Australian investment bank Macquarie Group, holds the remaining 34%. The terminal, with 2.33 million cubic metres of oil storage capacity and deepwater berthing facilities that allows two supertankers to dock at the same time, is regarded as a most prized asset invested in by the Lim family.Jurong Port, a fully owned subsidiary of Singapore’s industrial property developer and planner JTC Corp, entered the oil storage business in 2019 in a tie-up with independent storage operator Oiltanking. Source: Reuters (Reporting by Anshuman Daga; Editing by William Mallard)

…. PHOTO OF THE DAY …..

The ORCA ACE arriving at the Tj Pagar Car terminal in Singapore as spotted last Sunday ORCA ACE (IMO: 9777814) is a Vehicles Carrier registered and sailing under the flag of Panama. Her gross tonnage is 63116 and deadweight is 15495. ORCA ACE was built in 2018. ORCA ACE length overall (LOA) is 199.95 m, beam is 32.2 m. Photo : Piet Sinke www.maasmondmaritime.com (c) CLICK at the photo & hyperlinks in text to view and/or download the photo(s) !

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