Page 147 - Intelligence Limited News Today

Move follows clash over similar move on publicly listed tanker company Performance Shipping in the past month

The European Emissions Trading Scheme will come into effect from January. Carriers will apply surcharges, but to date only two have indicated what they will be

The International Longshore and Warehouse Union filed for Chapter 11 bankruptcy protection, saying a decision by terminal operator ICTSI to appeal a reduced damages settlement has sapped its coffers. The union says services will continue as usual

Niche insurer Shoreline’s new policy covers initial legal and inspection costs incurred in a US vessel pollution case, and operational expenses from the ongoing care of innocent seafarers held as witnesses by US authorities. Insureds are also offered ‘uninterrupted’ access to Marpol specialist law firm Chalos & Co

Orders for dual-fuel methanol ships have been confirmed by CMA CGM and Diana Shipping

Scorpio Tankers continues to reduce financing costs. It is exercising purchase options on 21 product tankers, bringing the tally since last August to 72 vessels. The company has also repaid debt relating to six vessels under three different facilities for about $100m

San Cosmas — until recently known as Laodicea — continues to engage in suspicious activity in the Black Sea after flag, name and ownership changes. It may still be run by the Syrian government, an analyst said

CMA CGM boasts largest dual-fuel methanol boxship orderbook, VLGC rates ease from record-shattering highs, Russia’s Danube offensive fails to dent Ukraine exports, more containerships and bulker sold for recycling as prices jump and Baltic Dry Index hits year-to-date high

Banks are aligning their lending capacity to the newly increased net zero trajectory for shipping. The natural conclusion of this process will be a reduction in shipping finance from banks. Capital will increasingly only flow in the direction of those companies with the ‘right’ decarbonisation strategies

Libra Group subsidiary and LNG terminals specialist aim to start serving vessels in Galveston Bay area by mid-2026