NEWNEW POLAR BEAR

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Chinese ship remains main suspect in damaging Balticconnector pipeline

The 'Newnew Polar Bear' remains the prime suspect in causing damage to the Balticconnector gas pipeline between NATO members Finland and Estonia, Finnish investigators said on April 25, 2024. It has been over six months since substantial, human-made damage that caused a major drop in pressure was first detected in the Balticconnector pipeline in Finnish economic waters on Oct. 8. Finland and Estonia's gas system operators were forced to shut it down, disconnecting a crucial link between the Nordic and Baltic gas markets for several months. The pipeline, which runs across the Gulf of Finland between the Finnish town of Inkoo and the Estonian port of Paldiski, was reopened this week after multimillion-euro repair work. The National Bureau of Investigation, a branch of the Finnish police, said that it still believed that an anchor of the 'Newnew Polar Bear', which was en route to St. Petersburg, Russia, was dislodged and caused the damage detected in Balticconnector. The investigation has progressed, and there has been cooperation with the Chinese authorities probing the case. The Finnish investigators haven't said whether they believed the damage allegedly caused by the Chinese vessel was done intentionally or whether it was caused by incompetent seafaring. The Finnish maritime authorities said at the time of the incident they failed to establish radio contact with the captain of the 'Newnew Polar Bear' despite several attempts.

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BARMBEK, EILBEK, REINBEK, FLOTTBEK SOLD ENBLOC FOR ABT US $39 MIL TO GERMAN BUYERS (PREVIOUS DEAL DID NOT MATERIALISE)

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Sold enbloc C/V "BARMBEK" - C/V "EILBEK" - C/V "REINBEK" - C/V "FLOTTBEK" - to Dutch buyers JR Shipping for $30 mill