Rates for Capesize, Panamax Bulk Carriers Jump
The Baltic Exchange's main dry bulk sea freight index rose more than 6% to its highest in about a week on Friday, aided by a jump in the capesize and panamax segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 221 points, or 6.1%, to 3,864.The main index fell about 2% this week."This upcycle in asset values confirms that supply/demand fundamentals look very promising for future prospects of dry bulk earnings…
MOL, Marubeni Developing Dual-fuel Methanol Carrier
Marubeni Corporation and Mitsui O.S.K. Lines, Ltd. (MOL) are working together to develop a dual-fuel methanol/very-low sulfur fuel oil powered vessel to ship methanol from Russia.On September3, during the Eastern Economic Forum in Vladivostok, Russia, the Japanese firms signed a memorandum of understanding (MOU) with the Ministry of the Russian Federation for Development of the Far East and the Arctic Regions…
FMC Announces National Shipper Advisory Committee Membership
The U.S. Federal Maritime Commission (FMC) on Thursday announced the membership of its newly formed National Shipper Advisory Committee.The committee is comprised of 24 members, evenly divided between those who export cargo from and those who import cargo to the United States, that will advise the commission on policies relating to the competitiveness, reliability, integrity and fairness of the international…
Evergreen Marine Orders 24 Container Ships
Container shipping firm Evergreen Marine has this week ordered 24 container ships for a total price of up to ~$1.1 billion from CSSC Huangpu Wenchong Shipbuilding in China.In a Taiwan Stock Exchange announcement on Wednesday, Evergreen said the order comprised newly-built 1,800 TEU, 2,300 TEU, and 3,000 TEU container ships.More precisely, the company has ordered two 1,800 TEU vessels, eleven 2,300 vessels TEU and eleven 3,000 TEU vessels.The total transaction price is between $958 million and ~1
Loading Ops Restart at Libyan Oil Ports
Loading operations at the Libyan oil terminals of Es Sider and Ras Lanuf resumed on Friday after a stoppage, National Oil Corporation and two engineers at the ports…
Nord Stream 2 Pipeline Completed, Gazprom Says
Gazprom said on Friday it had finished construction of the Nord Stream 2 subsea pipeline to Germany, completing Moscow's project to increase its gas export capability and bypass Ukraine, but flows have yet to be cleared by regulators.The much-politicized pipeline will double Russia's gas exporting capacity to Europe via the Baltic Sea and will allow Moscow to circumvent its political foe Ukraine as a major route for its lucrative gas exports to Europe."The head of the management board…
Sembcorp Marine Wins Dorado FPSO FEED Deal with Altera
Singapore-based Sembcorp Marine has secured an exclusive contract from floating production firm Altera Infrastructure, to carry out the Front-End Engineering Design (FEED) work for an FPSO to be built for Santos' Dorado oil and project offshore Australia.Dorado. located in the Bedout Sub-basin, offshore Western Australia, is an oil and gas project which is expected to have an initial oil production of 75…
US Gulf Coast Grain Exports Slowly Resuming
Louisiana Gulf Coast grain exports are slowly ramping up after a nearly two-week halt due to damage from Hurricane Ida, with at least two large terminals loading vessels and power steadily being restored to others, government and shipping sources said on Thursday.More than 50 oceangoing vessels have lined up along the lower Mississippi River waiting to dock and be loaded with soybeans or grain, according…
Smugglers Fake Ship Identities to Evade North Korea Sanctions
Smugglers suspected of evading sanctions on North Korea have turned to schemes to create fraudulent identities for sanctioned ships, a U.S.-based research group said in a report released on Thursday.Ships suspected of smuggling have long modified their physical appearance or broadcast false position data, said the report from C4ADS, a non-profit group.But the practice of "vessel identity laundering" is significantly more sophisticated and not only undermines sanctions…
PROFILE: Glosten is Meeting the Decarbonization Challenge, by Design
Naval architects and marine engineers sit on the front lines of the maritime industry’s battle toward decarbonization. Morgan Fanberg, President, Glosten, discusses the challenges and opportunities ahead.Put in context the challenge ahead for ship owners and ship designers to meet emission targets of 2050?I started my career in 1998 and as a young marine engineer, the challenges that I faced were taking old boats and meeting SOLAS requirements…
US Gulf of Mexico Oil Production Losses Lead to Cargo Cancellations
U.S. oil offshore losses remained at 76% on Thursday after Hurricane Ida hit the Gulf of Mexico, according to government data, which prolonged outages and caused the first oil cargo shipment cancellations to buyers in Asia.Production should be disrupted for several more days amid lasting damages to transfer stations and offshore facilities used by different companies, analysts said, with impact to…
CMA CGM to Halt Spot Freight Rate Rises until February
French container shipping group CMA CGM said on Thursday it was stopping all increases in its spot freight rates until February in a gesture to customers after a surge in shipping costs during the coronavirus pandemic.The pandemic has strained global logistics due to sanitary restrictions and a sharp rebound in economic activity following a slump last year."Although these market-driven rate increases are expected to continue in the coming months, the group has decided to put any further increase
World's First IMO Type B Very Large Ethane Carrier Launched
The world's first IMO Type B very large ethane carrier (VLEC), the Pacific Ineos Belstaff, has been launched at Jiangnan Shipyard in China.The first of an order of four of the largest VLECs ever commissioned, the ABS-Classed 99,000 cbm dual-fuel vessel is designed for long haul ethane transportation but can also handle other liquified gas cargoes such as liquefied petroleum gas (LPG) and ethylene.As a tradition, Jiangnan always gives a nickname to a newly developed ship.
It’s European Design, But Built For The Jones Act Market
The Netherlands-based Damen Shipyards Group is one of the industry’s largest and most recognized shipbuilders, perhaps best known for its standardized, serial production workboats. Now with several dozen newbuild and repair yards on the map, the company has produced more than 6,000 vessels over its 90-year history—from harbor tugs and offshore supply ships, to ferries and patrol craft. But Damen does not have a shipyard in the United States…
Atlantic Wind Transfers Taps CrewSmart for Fleet and Personnel Management
U.S. offshore energy support vessel company Atlantic Wind Transfers (AWT) has chosen CrewSmart's management system to ensure compliance and set the benchmark for fleet and personnel management efficiency in the growing U.S. offshore wind market.According to CrewSmart, its digitally-optimized management software will allow AWT to streamline its reporting and analysis across its fleet for both crew and shoreside personnel…
Ultimate Sea Trial: Volvo Penta, Danfoss Editron Power MHO's New CTVs
Danish offshore crew transfer specialist MHO has earlier this week taken delivery of two hybrid crew transfer vessels, after what was described as an ultimate sea trial.Namely, the vessels arrived in Esbjerg, Denmark after a 12,000 nautical mile journey from China, for which developers of propulsion technology Volvo Penta and Danfoss Editron said was a voyage of discovery, with the many lessons learned…
Interferry Conference Set to Highlight Ferry Industry as Post-COVID Leader
Findings from a survey suggesting that ferries are poised to lead post-pandemic travel demand will underline an upbeat agenda when global trade association Interferry stages its 45th annual conference in October.Taking place in Santander, Spain, the latest edition of the ferry community’s longest-established conference is themed The Future is Ferries – marking it as a showcase for positive solutions and prospects in response to COVID-19…
Container Shipping: Record Delays, Record Profits
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’ side and leaving carriers struggling to keep up all the while making record profits, shipping organization BIMCO reports.Drivers of demand and freight ratesThe container shipping market has frequently appeared in the headlines over the summer as freight rates and port congestion levels continue to reach record highs.
Ship Stuck then Refloated in Suez Canal, No Impact on Traffic
A bulk carrier briefly became stuck in the northern section of the Suez Canal on Thursday but was refloated and there was no impact on traffic, the Suez Canal Authority (SCA) said in a statement.The Panama-flagged Coral Crystal, with a cargo of 43,000 tonnes, suffered from a temporary problem on its way southwards through the canal, the SCA said, but ships behind it were diverted through a parallel channel.Traffic in the canal was blocked in both directions for six days in March when the giant c
VIDEO: Guyana's Second FPSO Sets Sail from Singapore
Liza Unity FPSO, set to become Guyana's second offshore production unit, has been completed in Singapore and has set sail towards Guyana.Keppel Shipyard, responsible for the construction and integration of the topside modules with the China-built FPSO hull said Thursday it had delivered the FPSO to SBM Offshore. Once in Guyana, the FPSO will be deployed at ExxonMobil's Stabroek offshore block.Keppel O&M’s scope of work included the fabrication of several topside modules…
