Supply Chain Shocks: Ocean Shipping Challenges Abound
Supply chain issues tied to liner shipping have been front page news throughout 2021; just about everyone agrees that there’s a problem. The underlying cause is right out of Economics 101: a surge in demand for moving containerized cargo, in the face of “inelastic” throughput capacity (which includes vessels and their landside interfaces to surface transportation, trucks and rail) that could not handle the swell…
US Barge Costs Spike Weeks After Hurricane Ida
Barge freight costs for moving grains in the Midwestern United States spiked on Thursday due to ongoing logistical problems more than two weeks after Hurricane Ida, while CHS Inc said the timeline to reopen its terminal remains uncertain.CHS Inc, a farmer cooperative and grain trader, said it expected its Myrtle Grove, Louisiana, grain export terminal to be operational by the height of the U.S. corn and soy harvest but could not be more specific.The terminal…
Louisiana Ports Seek Federal Aid for Ida Recovery
Several south Louisiana ports are requesting federal assistance to bolster recovery efforts in the wake of Hurricane Ida.On August 29, Ida made landfall in southeast Louisiana as a category 4 storm, heavily impacting local infrastructure, waterways and communities.The Lower Mississippi River opened three days later, and by September 2, the Port of New Orleans (Port NOLA) resumed limited operations and became fully operational September 7.
Indonesia Warns Against Arms Race After Australian Nuclear Sub Pact
Indonesia said on Friday it was worried about an arms race in the region after neighboring Australia announced plans to acquire nuclear-powered submarines as part of a new Indo-Pacific security alliance with the United States and Britain.Known as AUKUS, the alliance will see Australia get the technology to deploy nuclear-powered submarines as part of agreement intended to respond to growing Chinese power.In a statement on Friday…
Hyundai Heavy Industries Shares Jump Above IPO Price on Debut
Hyundai Heavy Industries' shares closed 86% above their initial public offering (IPO) price on their trading debut in South Korea on Friday.The shipbuilder, one of the largest in the world, raised $935 million from its IPO, with much of the proceeds set to fund investments in new technology.A total of 1,633 domestic and foreign institutional investors placed bids to acquire shares earlier this month, valuing total bids at 1,130 trillion won ($962.3 billion), according to Hyundai Heavy.The instit
Port of Mukran to Serve as O&M Base for Parkwind's Baltic Sea Wind Farm
Offshore wind developer Parkwind has selected the Port of Mukran as a service base that will serve its Arcadis Ost I wind farm, in the Baltic Sea, offshore Germany.Earlier this week, Parkwind, wind turbine maker Vestas, and construction firm Ems Maritime Offshore (EMO) signed the lease agreements for the O&M building in the Port of Mukran, the easternmost deep water port in Germany.The signing ceremony…
Quick Nord Stream 2 Start-up Would Calm Record-high Gas Prices in Europe, Kremlin Says
A rapid startup of the Nord Stream 2 gas pipeline from Russia to Germany could help calm record-high gas prices in Europe, Kremlin spokesman Dmitry Peskov told reporters on Wednesday, as Moscow awaits for regulatory clearance for gas flows to begin.Russia announced last week that it had completed construction of the $11 billion Nord Stream 2 to Germany, doubling its gas exporting capacity via the Baltic Sea.
The Path to Zero: Navigator Gas Earns AiP for Ammonia Fueled Gas Carrier
Navigator Gas was awarded an Approval in Principle (AiP) for an ammonia fueled gas carrier design from DNV. The new design draws together a consortium including MAN Energy Solutions, Babcock International and the Norwegian Maritime Authority (NMA), all of which have collaborated with Navigator Gas to earn the AiP.The design earned the AiP based on the special features notation (GF NH3) under DNV’s new rules for the use of ammonia as fuel in gas carriers.
V-Bunkers Orders Pair of Electric-Hybrid Bunker Tankers
Vitol’s Singaporean bunker operations company, V-Bunkers, placed an order to build two electric-hybrid bunker tankers, with the intention to deploy them for harbor ops in Singapore.The bunker tankers are being built at an undisclosed shipyard in China with Electric-Hybrid notation and will employ Energy Storage Systems (ESS) technology comprising Lithium ion batteries for energy storage and anautomated…
Svanehøj Buys Wärtsilä Tank Control Systems
Finland-based marine equipment and technology firm Wärtsilä has sold Wärtsilä Tank Control Systems business to Svanehøj, a Danish gas pump specialist involved in the design and manufacture of specialized deep well pump solutions within the areas of gas pumps, fuel pumps, products and chemicals, and offshore products.Wärtsilä Tank Control Systems designs, builds, sells, and services measurement systems for gas tanks on LNG ships, offshore storage, and land-based LNG terminals.
Some 28% of U.S. Gulf of Mexico Crude Output Offline
U.S. Gulf Coast crude oil exports are flowing again after recent hurricanes took out 26 million barrels of offshore production, according to sources and Refinitiv Eikon data, with local prices easing as more shipments moved out of the region.Hurricanes Ida and Nicholas damaged platforms, pipelines and processing hubs, shutting in most offshore production for weeks. Restarts continued on Thursday with about 28% of U.S. Gulf of Mexico crude output offline.
New Patrol Boat for Great Barrier Reef Area Hits The Water
Australian vessel designer Incat Crowther on Friday announced the launch of Tamoya, an Incat Crowther 17 to join Reef Ranger and Reef Resilience in Australia's Great Barrier Reef Joint Field Management Program fleet."Tamoya packs a lot of punch for her size, which is measured specifically to fit the home port berth. The main deck is dominated by an aft working deck with a quick launch and recovery system for a 3.4m RHIB…
