The Panamax Post Monday, June 29th

Good morning, and welcome to the daily Panamax Post column

Shallow waves wash over a sandy beach with a small island visible on the horizon under a cloudy sky

With much in the news, I wish you good fixtures and safe travels. And now for the news before the headlines.

Panama-flagged VLCC Kiku, reportedly laden with about 2m barrels of oil, was struck by an unidentified projectile in the Strait of Hormuz, damaging the bridge but leaving all crew safe.

SAAM Towage and SCHOTTEL have signed a global fleet maintenance agreement focused on predictive monitoring, spare-part readiness and improved tug operational continuity.

A series of strikes over the weekend saw the US and Iran accuse each other of violating the ceasefire agreement.

International Maritime Organization Secretary-General Arsenio Dominguez said that shipping should not be used as collateral in any geopolitical conflict.

The Russian frigate RFS Admiral Grigorovich (F494) has been lurking in the English Channel since the end of April, evidently to escort dark fleet tankers carrying Russian oil transiting through the English Channel.

The ship recycling market could move from a prolonged shortage of end-of-life tonnage to a capacity crunch if geopolitical disruption eases and a larger flow of vessels comes forward for demolition: Wirana Shipping Corporation

While the United Nations continues to say its evacuation plan for seafarers and their vessels remains suspended while it awaits further safety guarantees, ships are still making the transit.

Chinese hackles have been raised once again by Japanese and U.S. Marine maritime activity taking place in the seas around Taiwan, where the nearest Japanese island lies just over 60 nautical miles east of the Taiwanese coast.

Maritime safety in Australian waters continues to be a major concern after the country recorded another year of significantly high numbers of incidents, according to an annual report by the Australian Maritime Safety Authority.

Cyprus-based, Nasdaq-listed owner Castor Maritime has added the 2023-built Seacon Hamburg in its latest kamsarmax move.

One of South Korea’s largest dormant shipbuilding assets is edging towards a return to full production, potentially easing capacity constraints at a time when the country’s major builders remain heavily booked for years ahead.

Norwegian offshore vessel owner DOF has been awarded a contract for one of its subsea support vessels in North America. DOF secured a charter for its 2017-built Skandi Involver with an unnamed client.

Container shipping’s traditional hub-and-spoke model is undergoing its biggest overhaul in years, with carriers increasingly dispersing services away from Asia’s largest transhipment hubs in favour of smaller regional ports.

Incobrasa Industries Ltd. opened its new soybean processing plant and solar array, which is adjacent to the company’s existing facility in Illinois.

 

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