Baltic Index Snaps 7-day Losing Streak
The Baltic Exchange's main sea freight index rose on Wednesday, after declining for seven consecutive sessions, as rates for larger capesize and panamax vessels bounced back after a series of declines.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 53 points, or 4.2%, to 1,317.The Baltic capesize index gained 145 points, or 7.3%, to 2,137.
Blount to Build Icebreaking Buoy Tender for Maryland
Warren, R.I. shipbuilder Blount Boats said it has been awarded a contract to build a 90-foot icebreaking buoy tender vessel for the Maryland Department of Natural Resources. The vessel will be designed by BMT Designers and Planners, Inc. of Arlington, Va.The new vessel will replace the 100-foot, 167-ton M/V J. Millard Tawes commissioned by the U.S. Coast Guard in 1942 and in service for the Maryland Department of Natural Resources since 1972.
Camera Systems Installed Across Wilson Sons' Tug Fleet
Brazilian port and maritime logistics operator Wilson Sons is installing internet and camera systems on its tug fleet to allow real-time visualization of operations and maneuvers, including by customers.Closed Circuit TV (CCTV) and Network Cabling project was developed by the company's innovation laboratory Tuglab, in partnership with the IT management of the company’s towage division.In total, 480 cameras and local internet network will be installed.
Video: USCG Aids Cargo Ship Taking on Water off Puerto Rico
U.S. Coast Guard air and surface rescue crews at Sector San Juan responded and assisted the distressed M/V Island Express Wednesday afternoon, after the ship started taking on water when it departed the Port of San Juan for storm avoidance in anticipation of Tropical Cyclone 9.The M/V Island Express, a Cyprus flagged 412-foot ro-ro cargo ship, and its 18-man crew is now safely moored in San Juan Harbor.Coast…
Examining LNG as Fuel
A snap poll recently conducted by ABS found that as many two-thirds of global shipowners had yet to select a technical pathway to meet the International Maritime Organization’s (IMO) mandatory decarbonization targets for 2030 and 2050.With the technologies supporting a myriad of new low-carbon fuels evolving at vastly different speeds, any tendencies to wait for information to mature before making significant long-term capital commitments are understandable…
New Stock Index Launched for LNG Shipping
A newly launched stock index family is designed to measure the performance of companies involved in maritime transport of liquefied natural gas (LNG).The rules-based UP World LNG Shipping Index covers 17 publicly traded companies and partnerships from countries such as the U.S., Qatar, Japan, Norway, South Korea and Malaysia. The index covers 65% of the world LNG carrier fleet."Our aim is to set up the UP World LNG Shipping Index as the leading index for the rising LNG shipping industry…
Port of Vancouver USA Receives Record Shipment of Wind Turbine Parts
The Port of Vancouver USA received a shipment of wind turbine components on July 22 that included the longest wind turbine blades ever to enter the West Coast of the U.S. and transported across North America, to-date. The port received a total of nine wind turbines including blades, nacelles, generators, hubs, tower sections and other sub-components. Eight of Goldwind’s GW155/4.2 MW turbines arrived on the MV Star Kilimanjaro.
US-China Cold War Would Redirect Energy Flows
Worsening diplomatic relations between the United States and China are putting a spotlight on their economic inter-dependency in the context of global supply chains for both technology and energy.Top policymakers in the United States and some of its closest allies, including Australia and Britain, have recently hardened the language in which they describe relations with China.China has been labelled…
Analysts: Temasek Might Drop $3B Bid to Acquire Controlling Stake in Keppel
Temasek Holding's $3 billion bid to acquire a controlling stake in Keppel Corp will be under scrutiny on Thursday as a big quarterly profit drop at the conglomerate could raise the risk of the state investor dropping its proposal, analysts said.Keppel last week warned that material impairments relating to its offshore and marine segment (O&M) would hurt profits, which analysts say could breach so-called…
Hin Leong's Owners Move to Block OCBC from Picking at Shipping Units
The family that owns beleaguered Singaporean oil trader Hin Leong Trading (HLT) is seeking to block creditor OCBC's request to appoint overseers for the family's Xihe Holdings and four other subsidiaries to recoup its debt.Oversea Chinese Banking Corp (OCBC) applied last week for the Singapore High Court to appoint judicial managers over Xihe, owned by the family of Hin Leong founder Lim Oon Kuin, known as O.K.
All American Marine to Build NOAA Research Vessel
Bellingham, Wash. aluminum boat builder All American Marine (AAM) said it has been awarded the contract by the National Oceanic and Atmospheric Administration (NOAA) to construct a 50’ aluminum research catamaran for the Olympic Coast National Marine Sanctuary.The twin-engine Teknicraft Design vessel will be constructed by AAM to USCG Subchapter T standards. The vessel will carry up to 18 personnel on board on a near coastal route.
NZ Companies Collaborate to Build Electric Ferries
New Zealand companies HamiltonJet and EV Maritime have signed a Memorandum of Understanding to build advanced composite, battery-powered commuter ferries.Their cooperation was formalized at HamiltonJet’s Christchurch headquarters in May, in the presence of Hon Dr Megan Woods, New Zealand’s Minister of Energy & Resources and Minister of Research Science & Innovation.With the aim of decarbonizing the harbor cities of the world…
Port of Seattle Shelves Plans for New Cruise Terminal
Plans to develop a new cruise terminal at the Port of Seattle have been derailed by the coronavirus pandemic. The port announced Tuesday it has called off a request for industry proposals for a joint investment to build and operate a proposed new cruise terminal to serve the Alaska market.“Our current focus remains on public health,” said Port of Seattle Executive Director Steve Metruck. “We continue…
