Jones Act Waiver Granted to Valero After Colonial Shutdown
U.S. refiner Valero Energy Corp was granted a Jones Act waiver, sources familiar with the matter said on Thursday, after a cyberattack shut the Colonial Pipeline late last week, creating a fuel crunch in several parts of the U.S. Southeast and Northeast.Jones Act waivers are a key way to ensure fuel supplies reach some of the hardest hit areas as pump prices continue to surge while Colonial begins…
Baltic Dry Index Hits Near Two-week Low
The Baltic exchange's main sea freight index fell to a near two-week low on Thursday pressured by a decline in capesize and panamax vessel rates.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 62 points, or 2%, to 3,077, the lowest since April 30.The capesize index fell 160 points, or 3.4%, to 4,549, its lowest since April 27.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and st
Profiles in Training: Dr. Michael Ekow MANUEL, Professor, World Maritime University
The global seafarers crisis takes center stage at the World Maritime University (WMU), as Dr. Michael Ekow Manuel discusses the importance of seafarers, seafarer training and the MarTID 2021 survey.While many maritime professionals have the theoretical ‘salt in their veins’, a career at sea seemingly predestined by family ties and/or geographic proximity, that is not the case for Dr. Michael Manuel, Professor, WMU. Hailing from Ghana, Dr.
Hapag-Lloyd Reports Strong First Quarter
German container shipper Hapag-Lloyd said on Wednesday it increased its net profit in the first quarter to 1.2 billion euros ($1.45 billion) and kept up its guidance for "clearly higher" full year earnings."We concluded the first quarter with a very positive financial result and look back overall on a solid start to the year," said Rolf Habben Jansen, chief executive of Hapag-Lloyd, the world's number five container liner.Its net profit had slumped to 25 million euros a year ago as the coronavir
ABB Rolls Out Blended Learning Program for Azipod Users
ABB Marine & Ports said it has developed a new Blended Learning program for Azipod propulsion in response to customers’ requests for safe and efficient training of crews during global travel restrictions.The new program combines traditional classroom training with instructor-led lessons via conference call, assignments and e-learning available on the ABB Marine Academy digital learning platform; remote…
Fincantieri Q1 Profit Jumps 27%
Italian shipbuilder Fincantieri on Thursday reported a 27.3% rise in first-quarter core profit to 101 million euros ($122.06 million) and confirmed its guidance for the full year.Revenue stood at 1.43 billion euros, a 9.1% increase compared to the first quarter last year when production at the group's Italian shipyards was suspended in March due to a national lockdown to contain the spread of the coronavirus.The order intake stood at 300 million euros in the January-March period.Net debt rose to
LSFO Raises Ship Operating Cost by $20,000 Per Year
New rules that entered force at the start of 2020 to reduce sulphur emissions from ships are leading to significant hikes in vessel operational expenditure, members of theshipping industry say.Using low sulphur fuel oil (LSFO) can add as much as $20,000 to the operational expenditure for each ship per annum, said Sacha Cornell, fleet manager, Norbulk Shipping, speaking during a webinar organized by trade association management company Maritime AMC.
Barge Traffic Backs Up Near Memphis Amid Mississippi River Closure
More than 700 barges are delayed on the lower Mississippi River on Thursday after a structural crack in the Hernando de Soto Bridge prompted the U.S. Coast Guard…
Golar Taps Karl Fredrik Staubo as CEO
Golar LNG announced on Thursday it has appointed appointed Karl Fredrik Staubo as CEO, filling the void left by prior chief executive Iain Ross, who stepped down…
US Fuel Supply Response Slowed by Mothballed Oil Tankers
Efforts to get fuel supplies to areas in the United States facing shortages have been slowed because shipowners have mothballed U.S.-flagged oil tankers that can make coastal voyages…
World's First Barge-to-Ship Methanol Bunkering Carried out in Rotterdam
On May 10, 2021, the methanol-dual fueled chemical tanker Takaroa Sun, owned by NYK Bulkship (Asia) Pte. Ltd. participated in what is touted as the world’s first barge-to-ship bunkering of methanol fuel. The bunkering of methanol fuel was conducted in Rotterdam port under the leadership of the charterer Waterfront Shipping Company Limited, together with the cooperation of the Port of Rotterdam, Royal Vopak N.V.…
Mitsubishi Shipbuilding Launches Hybrid-Propulsion Ferry Kyoto
Mitsubishi Shipbuilding held a christening and launch ceremony May 13, 2021 for the first of two large ferries being built for Japan Railway Construction, Transport and Technology Agency (JRTT) and Meimon Taiyo Ferry Co., Ltd. The ceremony took place at the Enoura Plant at MHI’s Shimonoseki Shipyard & Machinery Works in Yamaguchi Prefecture. The handover is scheduled for December 2021 following completion of interior work and sea trial.
JGC Lands Pre-FEED Deal for Nigeria's First FLNG Project
Japan's JGC has been awarded the Pre-Front End Engineering and Design (Pre-FEED) contract for an FLNG facility project in Nigeria.The project is being run by UTM Offshore Limited, a Nigerian private company engaged primarily in crude oil sales and construction equipment leasing, and the Nigerian National Petroleum Corporation.This project calls for the Pre-FEED of an FLNG facility with a production capacity of 1…
U.S. Grants Jones Act Waiver to Company to Ease Fuel Supply Shortages after Cyber-attack on Pipeline
The U.S. government relaxed a long-standing maritime law protecting domestic shipping commerce to allow an undisclosed company to transport gasoline and diesel to ports in the East Coast after a cyberattack crippled the nation's largest fuel pipeline network.The Jones Act, implemented in 1920, requires goods moved between U.S. ports to be carried by ships built domestically and staffed by U.S. crews.
