Maersk Lifts 2021 Outlook Again as Freight Rates Rise
Danish shipping group A.P. Moller-Maersk lifted its 2021 outlook again on Thursday, riding the rise in freight rates which has resulted from a congested global supply chain.The coronavirus pandemic has prompted shortages of container ships and logjams at ports at a time of high consumer spending, sending the cost of transporting freight to record levels."The strong result is driven by the continuation of the exceptional market situation within Ocean…
Yanmar to Power MOL's New Dual-fuel Coal Carrier
Japan's Yanmar said Thursday it had received an order for dual fuel 6EY22ALDF engines which will be used to power generators on board Mitsui O.S.K. Lines' new LNG-fueled large coal carrier. The coal carrier will be built by Namura Shipbuilding."Emission regulations in the marine sector are becoming ever more stringent, with LNG vessels being adopted globally as a means of reducing environmental impact.
ABS, DSME to Develop Very Large Liquefied CO2 Carrier
The American Bureau of Shipping (ABS) and South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) said Thursday they would jointly develop designs for a 70,000 CBM very large, liquefied CO2 (LCO2) carrier.The joint development project (JDP) is responding to the development of carbon capture utilization and storage (CCUS) technology, which will ultimately require larger vessels for CO2 transport…
Oil Holds Above $75 on Big U.S. Inventories Drop With Gulf Output Still Recovering from Ida
Oil held above $75 a barrel on Thursday, within sight of a multi-week high hit a day earlier, supported by a big drop in U.S. crude inventories and surging European natural gas prices.U.S. crude inventories fell by 6.4 million barrels last week, more than the 3.5 million-barrel drop analysts expected, with offshore oil facilities still recovering from the impact of Hurricane Ida last month.Brent crude was down 15 cents, or 0.2%, at $75.31 a barrel by 1128 GMT.
CIMAC World Congress: The Place Where the Large Engine Industry Meets
Every three years, the large engine industry meets for the CIMAC World Congress. Next year, after Helsinki in 2016 and Vancouver in 2019, Busan in South Korea will host the CIMAC Congress from June 13 -17, 2022. Shipbuilding is dominated by Asia with South Korea as key player for decades. So, there is good reason for the Congress to meet there.But, to first address the question that is currently being asked the most: Against the background of the pandemic, will the congress really take place?
Ocean Cleanup Struggles to Fulfill Promise to Scoop Up Plastic at Sea
Docked at a Canadian port, crew members returned from a test run of the Ocean Cleanup's system to rid the Pacific of plastic trash were thrilled by the meager results — even as marine scientists and other ocean experts doubted the effort could succeed.The non-profit, launched in 2013 amid buoyant media coverage, hopes to clear 90% of floating plastic from the world's oceans by 2040. But the group's own best-case scenario — still likely years away — envisions removing 20…
Kongsberg to Deliver Vessel Insight for 26 Island Offshore Vessels
Norwegian offshore vessel owner Island Offshore has tasked Kongsberg Digital with equipping its whole vessel fleet with Kongsberg Vessel Insight infrastructure solution.With 26 offshore vessels expected to feature Kongsberg's solutions, this is one of the largest contracts for Vessel Insight since the software solution was launched in 2019."By installing the Vessel Insight infrastructure, Island Offshore will collect all the data from its fleet using a common platform.
SBM Offshore Completes $1.6B Project Financing for FPSO Sepetiba
Dutch FPSO leasing specialist SBM Offshore has completed the project financing of FPSO Sepetiba for a total of US1.6 billion, which SBM Offshore says, is the largest project financing in the company’s history.FPSO Sepetiba, formerly known as Mero 2, is destined for deployment in Brazil with Petrobras.SBM Offshore said that the project financing was secured by a consortium of 13 international banks…
DNV Doubles Down on Infection Protection
As the global cruise industry returns to service, DNV delivers a project for a UVD Robot from Green Instruments and prepares for further demand increase of its Product Assurance service tailored to infection prevention and control for the maritime industry as the benefit of the service is realized.COVID-19 hit the maritime industry hard, in particular, the cruise sector. Since the start of the pandemic…
UK Backs Zero-emissions CTV Concept
A study, led by maritime design and applied technologies company Artemis Technologies has been awarded £533,000 to investigate transformative solutions to decarbonize crew transfer vessel (CTV) operations in the offshore wind sector.The grant, announced at London International Shipping Week, has been awarded as part of the Clean Maritime Demonstration Competition funded by the Department for Transport…
Australia to Get US Nuclear Submarine Tech as China Looms Large
The United States, Britain and Australia will establish a security partnership for the Indo-Pacific that will involve helping Australia acquire nuclear-powered submarines, senior U.S. officials said on Wednesday, as Chinese influence over the region grows.Under the partnership, to be announced on Wednesday by President Joe Biden, British Prime Minster Boris Johnson and Australian Prime Minister Scott Morrison…
Japan, Australia to Build Green Hydrogen Supply Chain
Japan's biggest hydrogen supplier Iwatani Corp and five other firms said on Wednesday they will study the feasibility of building a green liquefied hydrogen supply chain between Japan and Australia that could produce 100 tonnes a day by around 2026.Green hydrogen is a zero-carbon fuel made by using renewable power to split water into hydrogen and oxygen.
Record 60 Cargo Ships Wait to Unload at Los Angeles, Long Beach
A record 60 container vessels are at anchor or adrift in the San Pedro Bay, waiting to be unloaded at the Port of Los Angeles/Long Beach seaports and another 20 are due to arrive in coming days, a port executive said on Wednesday.With the pandemic still raging around the world, U.S. consumers have not fully resumed previous spending on restaurants and travel, yet they continue to splurge on goods ranging…
House Transportation Committee Funds Key Great Lakes Projects
The House Transportation and Infrastructure Committee on Tuesday approved $1 billion for U.S. Coast Guard shore side infrastructure nationwide and $350 million for a heavy Great Lakes icebreaker as part of its budget reconciliation bill, an action that the Great Lake Maritime Task Force (GLMTF) called “great news for the Great Lakes.”The GLMTF described the heavy Great Lakes icebreaker as desperately…
Libya's Hariga Port to Return to Normal Operations
Libya's Hariga oil terminal will immediately return to normal operations, the National Oil Corporation (NOC) media office said on Wednesday, and the port manager said protesters were withdrawing.Exports at Hariga had been blocked by a group that said it was protesting for jobs.A senior NOC official said the blockade of Hariga had been lifted and the port had received instructions to resume operations.
Texas Ports Reopen for Vessel Traffic After Nicholas
The ports of Houston, Galveston, Freeport and Texas City in Texas on Wednesday lifted the "yankee" status they had set ahead of Hurricane Nicholas, which made landfall on Monday, allowing the resumption of inbound vessel traffic, the U.S. Coast Guard said.Nicholas passed through the Texas coast on Tuesday on its way to Louisiana, causing minor floods and leaving over 400,000 customers without power.
Vineyard Wind Secures $2.3 Bln Loan, Allowing Construction to Start
Vineyard Wind, which is on track to be the first major U.S. offshore wind farm, closed on a $2.3 billion loan and will begin construction in Massachusetts later this year, its owners said on Wednesday.The senior debt financing allows the project, a joint venture between Avangrid and Copenhagen Infrastructure Partners, to mobilize its contractors and suppliers to begin work, the companies said.The U.S.
Maryland Cove Point LNG Export Plant to Start Work Next Week
Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland will shut for about three weeks of maintenance starting around Sept. 20, according to pipeline data and analysts.Officials at Berkshire Hathaway Energy on Wednesday confirmed the pipeline and compressor station maintenance will start on Sept. 20 but would not confirm the shutdown of the liquefaction plant until…
Babcock Introduces Arrowyard Shipbuilding Approach
British aerospace, defense and security company Babcock has launched a new shipbuilding approach enabling international customers to build and support the company’s Arrowhead 140 frigate (AH140) in-country. Launched at DSEI 2021, Arrowyard enables the construction of the AH140 hull, superstructure and components, final assembly and outfitting and also supports the development of sovereign in-service…
Cox Marine Hires Wesson as COO
Cox Marine, a British manufacturer of high-powered diesel outboard engines for the global marine industry, announced it has appointed Gavin Wesson as its new Chief Operating Officer with immediate effect.Wesson has more than 20 years of experience in manufacturing and engineering operations, supply chain, and overall business leadership. He has held senior leadership roles at GKN Aerospace, GE Aviation and Doncasters Group…
