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Thursday, March 28, 2024
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India News

25 Mar 2024

India Brings 35 Somali Pirates to Mumbai

Indian naval forces seized the Maltese-flagged bulk carrier Ruen that had been hijacked by Somali pirates, rescuing 17 crew members. All 35 pirates aboard the ship surrendered. (Photo: Indian Navy)

The Indian navy handed over 35 Somali pirates to the police in Mumbai on Saturday, after 100 days of anti-piracy operations east of the Red Sea, where piracy has resurfaced for the first time in nearly a decade.India, the largest national force in the Gulf of Aden and northern Arabian Sea region, captured the pirates from the cargo ship Ruen last week, three months after it was hijacked off the Somali coast.Taking advantage of Western forces' focus on protecting shipping from attacks in the Red Sea by Yemen's Iranian-backed Houthi militants…

24 Mar 2024

Scarcity of Ship Recycling Tonnage Continues

Source: GMS

Despite the occasional smaller LDT candidate popping up for sale over recent weeks, there regrettably remains the ongoing scarcity of tonnage that is simply unable to fill the most basic of demands at the major ship-recycling destinations, reports cash buyer GMS.“As plots across Indian sub-continent markets gradually recycle through their respective shares of vessel deliveries through the first quarter of 2024, both Bangladeshi and Pakistani markets remain well-positioned despite the onset of the traditionally quieter month of Ramadan…

24 Mar 2024

Esgian Week 12 Report: New Finds in Guyana, China and Norway

© bomboman / Adobe Stock

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

22 Mar 2024

Itochu, U-Ming Mull Ammonia-Fueled Ships

© vchalup / Adobe Stock

Japanese trading house Itochu Corp will study joint ownership and operation of ammonia-fueled ships with Taiwan's U-Ming Marine Transport Corp, Itochu said in a statement, as Japan is bets on ammonia to cut emissions.The shipping industry transports about 90% of world trade, and accounts for nearly 3% of the world's carbon dioxide emissions; and installing ship engines that burn cleaner fuels could help slow global warming trends.The IMO has set a target of net-zero greenhouse gas emissions by around 2050…

21 Mar 2024

Red Sea Attacks Temporarily Increase Demand for Ships

© Yellow Boat / Adobe Stock

The BIMCO Container Shipping Market Overview & Outlook for March 2024 has been published, and Niels Rasmussen, BIMCO’s Chief Shipping Analyst, highlights that ship supply is expected to grow on average 9.1% in 2024 and 4.1% in 2025.Rerouting via Cape of Good Hope is assumed to impact the first half of 2024. Ship demand increases an estimated 9.5% in 2024 and falls 0.5% in 2025. The supply/demand balance is expected to tighten in the first half of 2024 but then weaken when ships can return to the Suez Canal routing.According to the IMF…

21 Mar 2024

Danish Pilot Makes a LEGO Model of His DanPilot Boat

Pilot boat driver, Espen Andersen’s LEGO model of the boat he sails for DanPilot. Image courtesy DanPilot

Espen Andersen, a pilot boat driver for DanPilot, the independent public enterprise owned by the Danish state, takes his love of maritime and LEGOs to new heights, creating a LEGO model of the pilot boat he sails for Svendborg, Denmark-based company. Andersen has registered the pilot boat for LEGO Ideas, a forum where fans can submit suggestions for upcoming LEGO sets. If the idea is to become a reality and be considered for a new production at LEGO, the pilot boat needs to receive 10,000 votes.“At DanPilot, many passionate seafarers work on dedicated hobby projects.

20 Mar 2024

Reliance Refusing Sovcomflot Oil Shipments

© momentscatcher / Adobe Stock

India's Reliance Industries, operator of the world's biggest refining complex, will not buy Russian oil loaded on tankers operated by shipping company Sovcomflot (SCF) after recent U.S. sanctions, according to two sources familiar with the matter.The development adds to oil export problems for Russia as its oil firms may face difficulties finding ships to sell surplus oil after recent Ukrainian drone attacks on the state's refineries. Russian companies are already struggling to collect payments for oil exports due to banking restrictions.The U.S.

20 Mar 2024

India to Prosecute 35 Pirates Who Hijacked Ship Off Somalia

Indian naval forces seized the Maltese-flagged bulk carrier Ruen that had been hijacked by Somali pirates, rescuing 17 crew members. All 35 pirates aboard the ship surrendered. (Photo: Indian Navy)

India will bring in and prosecute 35 Somali pirates its navy captured on a hijacked ship off Somalia, a navy official said, in a departure from its recent practice of rescuing vessels and crew but leaving the disarmed pirates at sea.The captured pirates are due to arrive in India on Saturday and will be handed over to the law enforcement agencies, the official said. He declined to be identified as he was not authorised to speak to the media.The exact charges against the pirates were not immediately clear…

18 Mar 2024

Bangladesh and Pakistan Ship Recycling Markets Remain Steady

Source: GMS

With the conclusion of week 11, the ongoing and seemingly endless dearth in the supply of viable candidates has been mercifully keeping the Bangladeshi and Pakistani ship recycling markets steady, reports cash buyer GMS.“On the other hand, the Turkish and Indian markets continue to endure their respective shares of a notably trying time, given that the Turkish Lira continues to plummet even amidst a mercifully quieter week (on account of Ramadan).”GMS says: “India continues to endure its share of nerve-racking volatility in local steel plate prices as well as the Indian Rupee…

18 Mar 2024

Houthi Attacks Must Ease for Salvage of Two Vessels, IMO Head Says

On March 2 at approximately 2:15 a.m. (Sanaa time), Rubymar, a Belize-flagged, UK-owned bulk carrier, sank in the Red Sea after being struck by an Iranian-backed Houthi anti-ship ballistic missile on Feb. 18. The ship had been slowly taking on water since the attack. (Photo: U.S. Central Command)

Efforts to limit environmental damage from a cargo vessel that sank after a Houthi missile strike and another abandoned during a fiery assault are on hold until attacks on ships ease, the United Nations' maritime shipping regulatory agency said on Monday.The UK-owned Rubymar last month became the first vessel lost since the Houthis began targeting commercial ships in the Red Sea area in November. The bulk carrier with 21,000 metric tons of fertiliser contained in its cargo hold…

18 Mar 2024

Somali Forces, Foreign Navies Prepare Attack on Hijacked Ship

Bulk carrier Abdullah was hijacked off the coast of Somalia last week. (Photo: EUNAVFOR)

Somali police and international navies were preparing on Monday to attack a commercial ship that was hijacked by pirates last week, the Puntland region's police force said, two days after Indian commandos rescued another cargo vessel held by pirates.The MV Abdullah was hijacked off the coast of Somalia last week, the latest of more than 20 attacks since November by Somali pirates who had laid dormant for nearly a decade.On Saturday, the Indian navy rescued another cargo vessel, the Maltese-flagged MV Ruen, which had been seized in December, freeing its 17 crew members and arresting 35 pirates.

17 Mar 2024

Indian Navy Seizes Ship from Somali Pirates and Rescues 17 Crew

(Photo: Indian Navy)

Indian naval forces including special commandos seized a cargo vessel that had been hijacked by Somali pirates, rescuing 17 crew members, a spokesperson for the navy said on Saturday.The navy said in a post on social media platform X that all 35 pirates aboard the ship, the Maltese-flagged bulk cargo vessel Ruen, had surrendered, and the ship had been checked for the presence of illegal arms, ammunition and contraband.The Ruen had been hijacked last year and the navy said it had…

13 Mar 2024

Second Russian Tanker, Hit by Sanctions, Docks in China

© Nightman1965 / Adobe Stock

Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.This is the second Russian oil tanker, hit by sanctions, to dock at Chinese ports this month. Last week, tanker Liteyny Prospect discharged its 700,000-barrel Sokol crude cargo at the Chinese port of Huanghua near Cangzhou city in Hebei province.The Dongying port authority declined comment when contacted by Reuters.

11 Mar 2024

ONE Establishes New Headquarters in Dubai

Sundeep Sibal courtesy of ONE.

Ocean Network Express (ONE) has opened a West Asia Regional Headquarters in Dubai. The move aims to expand ONE's growth in the rapidly developing markets of the Indian Subcontinent, Middle East and East Africa.The West Asia Regional Headquarters office will serve as ONE’s central hub across the region, encompassing functions such as commercial activities, customer service, and digitization. It will also house a team dedicated to developing regional trade partnerships and exploring…

10 Mar 2024

Sleepy Week for Ship Recyclers

Source: GMS

Even though the Indian sub-continent ship recycling markets have taken on a collection of smaller vessels of late, the week remains “sleepy” says cash buyer GMS.Virtually no deals have been concluded, and this has put the squeeze on the global ship recycling sector.“Dry bulk charter rates have been pushing on by the week as ship owners monetize the most from this sector. Containers and tankers too remain oddly off the recycling buffet, and this in turn is driving the ongoing dearth of viable candidates into overdrive…

07 Mar 2024

Ship Evacuated After First Civilian Fatalities in Houthis' Red Sea Attacks

(Photo: U.S. Central Command)

India's navy evacuated all 20 crew from a stricken vessel in the Red Sea on Thursday, after a Houthi attack killed three seafarers in the first civilian fatalities from the Yemeni group's campaign against the key shipping route.The Iran-aligned militants fired a missile at the Barbados-flagged, Greek-operated True Confidence on Wednesday about 50 nautical miles off the southern Yemeni port of Aden, setting it ablaze.In a statement, the owners and manager said all 20 crew and three…

07 Mar 2024

Tanker Liteyny Prospect, Hit by Sanctions, Docks in China to Offload Russian Oil

© Vallehr / Adobe Stock

The Russian tanker Liteyny Prospect, hit by sanctions, has docked at the Chinese port of Huanghua to discharge its 700,000-barrel Russian Sokol crude cargo, two sources familiar with the matter said, clearing part of a backlog of cargoes disrupted by sanctions on Moscow's oil trade.The tanker is one of six ships carrying Sokol crude, which India has not been able to import due to payment issues. The six ships had been sailing to China but five of them are floating at sea early this week, shipping data showed, following fresh U.S.

04 Mar 2024

Ships Entering Yemeni Waters Must Obtain Permit, Houthi Minister Says

© Celt Studio / Adobe Stock

Ships will have to obtain a permit from Yemen's Houthi-controlled Maritime Affairs Authority before entering Yemeni waters, Houthi Telecommunications Minister Misfer Al-Numair said on Monday.Houthi militants have repeatedly launched drones and missiles against international commercial shipping in the Gulf of Aden since mid-November, saying they are acting in solidarity with Palestinians against Israel's offensive in Gaza.The near-daily attacks have forced firms into long and costly diversions around southern Africa…

03 Mar 2024

Recycling Market Still Deprived of Tonnage

Source: GMS

As freight markets push further on, global ship recycling markets remain deprived of tonnage, making it an increasingly suffocating environment for ship recyclers to operate in, reports cash buyer GMS.Bangladesh and Pakistan rely heavily on imported ship’s steel, not only for domestic / large-scale infrastructure projects, but also for its comparatively ‘healthier’ and ‘rust-free’ condition than other forms of imported scrap metal / steel (HMS 1, HMS 2, shredded steel, etc.)Therefore…

03 Mar 2024

Esgian Week 9 Report: Dolphin, Diamond and Seadrill Updates

© AndSus / Adobe Stock

Esgian reports rig-related updates from Dolphin Drilling, Diamond Offshore, and Seadrill in its Week 9 Rig Analytics Market Roundup.Report Outline:ContractsDespite Tullow Oil’s recent announcement that it would take a break from drilling offshore Ghana, Noble Corp. has stated that there has been no contract termination announcement and that its 12,000-ft drillship Noble Venturer is currently still contracted to Tullow into March 2025.Masirah Oil Ltd has signed a rig contract with…

01 Mar 2024

Yara and ACME Sign Ammonia Supply Agreement

Source: Yara

Yara and GHC SAOC, a wholly owned subsidiary of India’s Acme Cleantech, have signed a binding agreement for the supply of ammonia with reduced CO2 emissions from Acme to Yara on a long-term basis.Both companies had previously signed a non-binding offtake Term Sheet and the current agreement concludes 18 months of negotiations during which the regulatory framework and certification regime have evolved significantly, creating a suitable environment for such long-term contracts.The long-term offtake agreement covers the supply of 100…

01 Mar 2024

Post-cyclone Dredging Underway in India's Port of Krishnapatnam

Dutch dredging contractor Van Oord reports it is carrying out dredging works in the Port of Krishnapatnam, India.The depth of the port channels must be restored after a severe cyclone Michaung caused siltation in the port area. The Port of Krishnapatnam, now owned by Adani Ports and Special Economic Zone Limited, selected Van Oord for the project.Van Oord said it is deploying trailing suction hopper dredger HAM 318 to dredge the navigation channel of the port to the required depth…

01 Mar 2024

Venezuela Oil Exports Rising, but Shipping Delays Persist

© Vladimir / Adobe Stock

Venezuela's oil exports slightly increased in February to some 670,000 barrels per day (bpd), but ongoing shipping delays worsened a bottleneck of tankers waiting to load, according to documents and vessel monitoring data.State-run oil firm PDVSA's customers have rushed to send tankers to Venezuela in recent months to pick up crude and fuel before the United States potentially reimposes oil sanctions.Restrictions could resume on April 18 when an existing license expires, the U.S.