Top story
Evangelos Marinakis-controlled Capital Group’s surprise speculative order of the world’s largest liquefied CO2 (LCO2) carrier newbuildings is the “tip of the iceberg” in a spend of almost $6.5bn on newbuildings for what the company is dubbing its “energy transition fleet”.
Capital Group executive Jerry Kalogiratos told TradeWinds that the company has sold more than 20 vessels with an average age of 12 years across the container and tanker segments over the last three years.
These have been replaced with 57 newbuildings costing close to $6.5bn in total with delivery dates extending from 2020 through into 2027.
In the news
PCTC blaze | Salvors faced a difficult battle to extinguish a blaze on the K Line-chartered car carrier Fremantle Highway, which caught fire off the coast of the Netherlands carrying close to 500 electric vehicles on board on Tuesday. One seafarer died and the others were evacuated, some of whom sustained injuries.
Gardiner quits | Vale International has promoted Michelle Gonzalez to become its chartering manager in Singapore, following the resignation of incumbent Michael Gardiner, multiple broking sources have said.
Taiwan boxship | Around 600 containers were reported lost from a feeder container ship that sank at the port of Kaohsiung in Taiwan. The Palau-registered Angel developed a serious list thought to be caused by water ingress just outside the port.
Black Sea grain | After throttling even the little that was left of Ukraine’s waterborne grain exports, Russian President Vladimir Putin takes steps to supplant Ukraine’s grain in international markets.
Green Seas | This week’s newsletter explores the impacts of upcoming European Union regulations, with the Emissions Trading System entering force in just over five months and FuelEU Maritime hitting the water a year later.
In-depth
Does the dry cargo world need to be worried about China?
When China unwound its zero-Covid restrictions earlier this year consumer behaviour and industrial activity began to normalise — but its economic recovery has been grindingly slow, particularly for the faltering real-estate sector.
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And finally…
After rolling out its first data product as a market test last year and another in recent months, CargoMetrics Technologies is about to step up the pace of its rollouts.
“The cover’s off,” Scully told TradeWinds. “We’re going to be introducing new products at a pretty healthy cadence.”
