2nd November 2024 – 8th November 2024
LOCAL NEWS
1. 2024 AMVER Awards Ceremony for “AMVER Awards 2023”
On Thursday, November 7, 2024, the International Propeller Club of the United States, Port of Limassol, in collaboration with the Cyprus Shipping Chamber (CSC) and the Cyprus Union of Shipowners (CUS), organized the "2024 AMVER Awards Ceremony" presenting the Awards of the Automated Mutual-Assistance Vessel Rescue (AMVER) program for the year 2023. The event took place at the Amathus Beach Hotel in Limassol, under the auspices of the Shipping Deputy Ministry and the US Embassy in Nicosia.
The purpose of these Awards is to recognize Cyprus-based shipping companies that participate in the United States Coast Guard's AMVER program, which helps guide commercial shipping vessels to assist other vessels in distress on the high seas. Notably, the AMVER system, which celebrated its 66th year in 2023, helped save 771 lives and assisted 240 people at sea through 170 rescue operations. The programme maintains a daily average of 6,345 ships available for emergency response worldwide.
Following the welcome speech of the President of the Propeller Club of the United States, Port of Limassol, and Vice President of our Union, Mr. Polys V. Hajioannou, the US Ambassador to Cyprus, Mrs. Julie Davis Fisher, presented the awards on behalf of the US Coast Guard, emphasizing that AMVER is an excellent example of mutual aid and partnership.
Twenty Cyprus-based companies were awarded for registering their vessels in the AMVER program in 2023 – a total of 310 awards for as many vessels, giving Cyprus the fifth highest number of AMVER awards worldwide.
Among the awarded companies, the following members of our Union were recognized for their contribution:
LMZ Shipping S.A. (2 awards), Olympia Ocean Carriers Ltd (2 awards), Safe Bulkers Management Ltd (28 awards), Samos Steamship (Cyprus) Ltd (1 award), Star Bulk Shipmanagement Co. (Cyprus) Ltd (8 awards) and Transmed Shipping Co. Ltd (6 awards).
For more information on the event and the awarded companies, please visit the relevant links below.
Related Articles:
Attachment 1: US Embassy – Press Release
US Coast Guard Global Search and Rescue System: www.AMVER.com
PhileNews 8/11 - Cyprus shipping firms honoured for sea rescue participation
CBN 8/11 - 20 Cyprus-based shipping companies recognised at the AMVER Awards
INTERNATIONAL NEWS
2. Confirmation Hearings of EU commissioners-designate in the European Parliament
With the commencement of the process of hearings for EU commissioners-designate in the European Parliament, on the 4th November 2024, the first four Commissioners – designate were approved without any particular hurdles.
According to parliamentary sources, Slovak independent socialist Maroš Šefčovič, designated to the trade, transparency, and institutional relations post, Maltese social democrat Glenn Micallef, responsible for youth culture and sports, the Greek Apostolos Tzitzikostas of the European People’s Party (EPP), designated to the transport and tourism portfolio, and the Luxembourger Cristophe Hansen, also a Popular, responsible for agriculture, were given the green light by the European Parliament.
Mr. Tzitzikostas, to whom von der Leyen entrusted the portfolio on Transport and Tourism, promised MEPs “a new action plan for military mobility” in coordination with NATO. A plan that “largely overlaps with the broader need for a strong transport network,” with the Trans-European Ten-T Network “encountering major delays.”
The Cypriot commissioner-designate for fisheries and oceans, Mr. Costas Kadis, was also considered to have performed well in his three-hour faceoff with lawmakers during his European Parliament hearing, proving he had expertise on some of the key issues of his post.
Furthermore, according to ECSA, Wopke Hoekstra was confirmed as Commissioner for Climate, Net-Zero and Clean Growth, Jessika Roswall as Commissioner for Environment, Water Resilience and a Competitive Circular Economy, and Dan Jørgensen as Commissioner for Energy and Housing.
During the confirmation hearings of the above mentioned Commissioner – designates, the following issues were raised:
Mr. Wopke Hoekstra did not focus on the maritime sector, but several points are of importance for shipping:
- Climate targets: he will propose a targeted amendment to enshrine a net 90% emissions reduction target in 2040 in the European climate law.
- EU ETS: the 2026 revision will cover all sectors, including shipping, but also negative emissions. The Commission will monitor how Member States spend their ETS revenues on climate actions. By the end of the year, the Commission will publish a report evaluating the potential risks of carbon leakage in the maritime sector following the implementation of the EU ETS. So far, the Commission has not identified such leakages, but it will act if the situation changes.
- CO2 targets for cars: he affirmed that the CO2 targets for cars and the 2035 ban on the sale of new cars with combustion engines will not be revised. He mentioned a possible revision of the rules in 2026 to allow for the use of e-fuels. Biofuels cannot be part of the mix for the road sector after 2035, but they could be used by other transport sectors, especially 3rd generation biofuels.
- Competitiveness in decarbonisation: during his first 100 days in office, he will present a clean industrial deal to provide the conditions for affordable energy, enabling investments, and boosting skills. There needs to be a level playing field for EU industries.
- International action: the EU will continue to lead by example and ask more from its international partners. The EU will keep on promoting carbon mechanisms at the international level, but also on promoting CBAM. He affirmed that an international level playing field is needed for maritime and aviation. If ICAO does not deliver, the scope of the EU ETS will be extended to international aviation.
- Taxation is linked to competitiveness: he will focus on greening taxation and hopes to finalise the negotiations on the Energy Taxation Directive. He wants to close the tax gap, and would like to explore greening the VAT system.
Jessika Roswall’s services will deal with the upcoming revision of the EU Ship Recycling Regulation. While she did not mention this file, she highlighted that:
- A competitive economy and a clean transition must go hand in hand.
- She will focus on circularity, both in terms of production and in terms of recycling, as well as the clean industrial deal. She wishes to create a real single market for waste and recycled materials.
- She will work on the Zero Pollution Action Plan, the Chemical Industry Package, the use of PFAS, but also on the protection of biodiversity and the implementation of the nature restoration law.
The main priorities of Dan Jørgensen are to:
- Bring down energy prices for the EU industry. This could be done by simplifying permitting.
- Reduce dependencies, especially from Russia, by strengthening the European infrastructure and supply chain.
- Continue the implementation of the Green Deal. He affirmed that the 90% emissions reduction target in 2040 to be enshrined in the European climate law cannot be reached without a massive expansion of renewable energy. In addition, he mentioned that hydrogen will be an important solution in maritime transport. To reduce investment uncertainties, the EU must invest in and build up infrastructures as well as storage facilities for hydrogen. State aid will be used to derisk the investments. Reskilling and upskilling are needed to speed up the hydrogen production at the national level.
All the 26 Commissioners-designate have already answered written questions from MEPs on parliamentary committees related to their portfolios, to convince them of their expertise, their commitment to Europe and their integrity.
If the candidates pass the test, the new Commission must then receive approval from the European Parliament's plenary session before being appointed by the European Council.
The election of the full College of Commissioners by MEPs is currently scheduled to take place during the plenary session during the week of 25-28 November in Strasbourg.
Related Articles:
EU News 05/11 - Hearings: first four EU commissioners-designate clear European Parliament hurdle
Politico 04/11 - Who aced (and flunked) the commissioner hearings?
EuroNews 04/11 - European Commissioners-designate face parliamentary grillings
3. Trump’s win sets the stage for a dramatic overhaul of US trade policies
Donald Trump’s victory in the US Presidential Election is sending ripples through the shipping industry being viewed as a potential setback for international trade.
Trump’s campaign promises have set the stage for a dramatic overhaul of US trade policies, according to ocean freight benchmarking firm Xeneta. The President-elect has pledged to impose blanket tariffs of up to 20% on all imports into the US, with an even more stringent 60% to 100% tariff on goods from China. President-elect Trump has vowed to move fast on aggressive new tariffs on imports and said in his speech on Wednesday, 6th November 2024, “promises made, promises kept.”
These proposed measures have raised alarms among importers and shipping industry analysts alike.
The immediate impact of Trump’s victory is expected to manifest in a rush to frontload imports.
“The knee-jerk reaction from US shippers will be to frontload imports before Trump is able to impose his new tariffs,” experts explain. They note that the incentive for this preemptive action is even greater now, with proposed tariffs on Chinese imports potentially reaching 100%, compared to the 25% seen in 2018.
The long-term outlook appears equally challenging. Sand predicts that “another Trump presidency will reignite the trade war with China and provoke retaliatory action.”This escalation could create a feedback loop of increasing tariffs and trade barriers, further straining international commerce and shipping operations.
However, according to other experts, Trump’s win could be good news for Asia and shipping. With clear Trump policies of greater Fossil Fuel production in the USA, engaging all the trade partners to renegotiate trade deals, the trade flows will be dynamic and volatile. Coal & Oil exports from the USA to Asia will pick up for sure – the key question is which sources will they displace?
While a lot of rhetoric exists in terms of huge tariffs that Trump threatens to put through, it may well be a lever to negotiate with Asia, especially China, and achieve a bit of “give and take”, since forget that Asian countries still hold the majority of US Treasuries. The experts who support this theory predict that Donald Trump as the President of the United States is not bad news for Asia but very bad news for UK & Europe.
According to International Seaways chief executive Lois Zabrocky, “The impact [of Trump] on oil tankers could be more sanctions, reducing some Iranian flows and squeezing out some of the sanctioned parties there, and potentially more sanctions on Venezuela.”
There is also a new theory making the rounds in shipping circles involving Russian sanctions: that the Trump administration could unilaterally tighten sanctions on Russian export flows, targeting buyers in India and China, as part of a negotiating tactic to force the end to the Russia-Ukraine war. Trump deployed market-shaking sanctions during his first term, designating Chinese tanker owner Cosco Dalian for carriage of Iranian oil in September 2019.
“It’s impossible for us to predict the long-term effects of the Trump election on shipping markets,” said CMB.Tech chief executive Alexander Saverys. “You can talk about this for hours and hours and hours, but right now, there’s not a lot of sensible things we can say.
“There’s always a risk that certain elements of the shipping industry — and for instance, decarbonisation — might turn backwards. There’s also an opportunity that certain things might go in the right direction.”
Related Articles:
Lloydslist 07/11 - Shipping execs weigh in on Trump 2.0, downplaying potential negatives
CNBC 06/11 - Trump vow on new trade war sends shockwaves through supply chain
Gcaptain.com 06/11 - Trump’s Victory Sparks Fears of Freight Rate Surge and Trade War Escalation
Seatrade Maritime 06/11 - Why a Trump win could be good news for Asia and shipping
4. TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 2: US Treasury Report for week 02/11/2024 – 08/11/2024
5. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 3:Worldwide Threat to Shipping (WTS) Report, for the period between 09/10/2024 –06/11/2024
Nothing important to report from the IMO, ILO and the House of Representatives.