GTT Wins LNG Tank Design Orders from Samsung
French engineering firm GTT announced it has received an order from its partner the Korean shipyard Samsung Heavy Industries (SHI) for the tank design of three new…
EEX Launches Dry Freight Index Showing Cost of Carbon
German energy exchange EEX on Monday launched a zero carbon freight index (ZCFI) which combines the bourse's dry freight and emission permits prices to show operators how accounting for carbon emissions could affect freights.Decarbonization of the shipping value chain is already well underway and will continue to be front and center for ship owners, charterers and financiers in the decade ahead.The ZCFI comes as the European Union is due to unveil climate legislation this week which is likely to
ClassNK Verifies NSU's GHG Emissions
Classification society ClassNK said it has conducted a third-party verification of greenhouse gas (GHG) emissions from the entire value chain—including Scope 3 emissions—of shipping company NS United Kaiun Kaisha (NSU) and issued a GHG verification statement.While efforts to build a decarbonized society are being accelerated such as through strengthened GHG reduction targets in various countries and with the progress of sustainable finance…
Electric Boat's New Submarine Transport Barge Christened
Bollinger Shipyards on Saturday christened the Holland, an ocean transport barge for General Dynamics Electric Boat. The Holland will support the construction and maintenance of the United States Navy’s Columbia Class ballistic missile submarines and Virginia Class fast attack submarines. General Dynamics Electric Boat is the prime contractor on the design and build of the Columbia Class submarine…
Suez Canal Posts Record $5.84 Billion Annual Revenue
Egypt's Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June), up from $5.72 bln in the previous year, the Suez Canal Authority said on Sunday.The Authority also said the canal's revenues in the first six months of this year increased to about $3 billion compared with $2.76 billion in the same period last year, despite the grounding incident of container ship Ever…
China Says It 'Drove Away' US Warship
China's military said it "drove away" a U.S. warship that illegally entered Chinese waters near the Paracel Islands on Monday, the anniversary of an international court ruling that held Beijing had no claim over the South China Sea.The USS Benfold entered the waters without China's approval, seriously violating its sovereignty and undermining the stability of the South China Sea, the southern theatre…
Ship Recycling Rates Approach $600/LDT
Sub-continent markets continue to fire on during the summer / monsoon months, as firmer steel plate prices and an increasing lack of available tonnage has invariably pushed sub-continent offerings on to previously unthinkable levels.Not since the boom year of 2008 have we seen levels quite so high, and as the mythical $600/LDT draws ever closer, we will certainly see some fresh sales records being set from over the past decade.Notwithstanding…
Shell to Supply PetroChina with Carbon Neutral LNG
Oil major Shell has signed a five-year contract with PetroChina to supply the Chinese company with carbon-neutral liquefied natural gas (LNG) cargos, Shell said on Monday.Many companies, particularly those in the fossil fuel industry are using tools such as carbon offsets to compensate for emissions they are unable to cut in their operations.For each cargo delivered under the agreement the two companies will "cooperate to offset life-cycle carbon dioxide equivalent (CO2e) emissions generated acr
LNG Bunker Vessel Marseille Completes Sea Trials Ahead of Deployment in France
The first LNG bunker vessel to be based in France has successfully completed sea and gas trials, marking another step towards the delivery and operational start-up.The new vessel, named Marseille, is TotalEnergies Marine Fuels’ second collaboration with shipowner Mitsui O.S.K. Lines, Ltd. (MOL) and shipbuilder, Hudong-Zhonghua Shipbuilding. TotalEnergies Marine Fuels and MOL signed a long-term charter contract in November 2019 and construction started in April 2020.
Penfield Marine, Macquarie Group Execute Carbon Neutral Voyage
Tanker operator Penfield Marine and Macquarie Group’s Commodities and Global Markets division announced the execution of Penfield’s first carbon-neutral voyage in a collaboration that will enable Penfield Marine to offer environmentally differentiated freight products to its customers.The structure achieves carbon-neutral freight by retiring carbon offsets sufficient to cover the carbon footprint of an entire voyage…
Nichols Brothers Delivers Fourth Tug to Foss
Nichols Brothers Boat Builders (NBBB) said it has delivered the final vessel in a series of four new tugs for Foss Maritime.The ASD-90 tractor tugs Jamie Ann, Sarah Avrick, Leisa Florence and Rachael Allen were completed and delivered between April 2020 and June 2021. Foss, a division of the Saltchuk company, will station two of the vessels in Los Angeles/Long Beach, while the other two vessels will…
GasLog Partners Names Enoizi CEO
GasLog Partners announced its directors appointed Paolo Enoizi, currently Chief Operating Officer (COO) of the Partnership’s General Partner, GasLog Ltd., and GasLog Partners…
Lithuania Seeks Alternative Bids for LNG Import Terminal
Lithuania is seeking alternative bids from providers of floating liquefied natural gas (LNG) terminals to potentially replace its existing import terminal, operator Klaipedos Nafta said on Friday.The
Belships Sells Its Oldest Bulk Carrier
Dry bulk shipping company Belships ASA said it has entered into an agreement to sell of the oldest vessel in its fleetThe 2007-built 55,000 dwt bulk carrier Belfri…
Sovcomflot Charters Two More LNG Carriers to TotalEnergies
PAO Sovcomflot (SCF Group) has received confirmation from TotalEnergies of the exercise of its option for two further next-generation 174,000-cubic-meter-capacity liquefied natural gas (LNG) carriers.
Ballast-water-free LNG Bunker & Feeder Vessel Granted AIP
A "ballast-water-free” liquefied natural gas (LNG) bunker and feeder vessel concept from GTT and Hudong Zhonghua Shipbuilding Group Co. (HZ) has received approval in principle (AIP) from the classification societies China Classification Society (CCS) and DNV.The AiPs recognize the compliance of the vessel design with the rules and codes relating to ocean-going vessels, their construction and equipment.According to GTT…
South Korea's Container Squeeze Throws Exporters into Costly Gridlock
Unable to get a slot on a container vessel, Lee Sang-hoon is considering using fishing trawlers docked for repair in the South Korean port of Busan to meet surging export orders for the car engine oil he sells to Russia."China is the black hole in this shipping crisis, all the carriers are headed there," said Lee, owner of Dongkwang International Co. in Busan which makes about 20 billion won ($17.60…
Grimaldi Group’s Fifth Hybrid RoRo Christened
The fifth in a series of 12 hybrid ro-ro ships for the Grimaldi Group has been christened in the port of Catania.Built by the Chinese Jinling shipyard in Nanjing, Eco Catania and its sister vessels already in service in the Mediterranean are part of the GG5G (Grimaldi Green 5th Generation) class, which rank among the largest and most eco-friendly ro-ro ships in the world.With a transport capacity of more than 500 trailers…
Baltic Dry Index Posts Fifth Straight Weekly Rise
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, posted gains for a fifth straight week on Friday as capesize rates strengthened.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 19 points, or 0.6%, to 3,300 and was up 0.5% for the week.The capesize index was up 86 points, or 2.4%, at 3,735, rising 6.4% since last week.Average daily earnings for capesizes, which typically transport 150,000-
Cruise Ship Runs Aground near Canton, Kentucky
The U.S. Coast Guard responded Thursday to the aground cruise vessel American Jazz near Canton, Kentucky."American Jazz is aground near mile marker 62 on the Cumberland…
