Baltic Index Dry Snaps Eight-day Losing Streak
The Baltic Exchange's dry bulk sea freight index gained on Wednesday, after falling for eight straight sessions, supported by higher rates across all vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose by 37 points, or 0.8%, to 4,751.The capesize index rose 46 points, or 0.6%, to 7,275, breaking a losing streak of eight sessions.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal,
Greece Wants 'Realistic' EU Green Policy for Shipping
EU shipping power Greece has told the European Commission that adding the industry to the bloc's carbon emissions trading scheme should be proportionate and tightly enforced to secure a level playing field for the European fleet in global markets.In a letter sent to Commission head Ursula von der Leyen, Greek Prime Minister Kyriakos Mitsotakis said that countries should also get back the revenue raised…
Reefer Shipping Exhibit Area Opens at Hamburg Maritime Museum
A new exhibition area on the subject of "Reefer Shipping - Transport of Perishable Goods" is attracting visitors to the International Maritime Museum Hamburg (IMMH). Starting October 19, 2021, this new part of the exhibition on deck 6 will present everything on the subject of reefer shipping, using the Hamburg Süd as an example. From the beginning of reefer shipping in 1877 to the present day, the…
Tenth Shell Tanker Joins Signal Maritime Pool
The Signal Group said Wednesday that its shipping arm Signal Maritime has taken commercial management of Silver London, its 10th Shell medium-range (MR) tanker,…
Chevron Books Edda Fides Accommodation Vessel for Wheatstone Work
Oil and gas company Chevron has chartered Edda Accommodation's Edda Fides offshore accommodation unit for operations support in Australia, starting in the second quarter of 2022.Currently on a charter with Norway's Equinor, mono-hull vessel Edda Fides will provide accommodation and associated facilities for up to 300 people for an upcoming turnaround maintenance event on the Wheatstone offshore gas processing platform…
Singapore Charges Two for Corrupt Bunker Trading
Singapore authorities have charged two individuals in court for alleged corruption in relation to the trade and supply of marine fuels, the Corrupt Practices Investigation Bureau (CPIB) said in a statement.Afzal Bin Mohamed Ekbar, a bunker trader at KPI Bridge Oil Singapore Pte Ltd at the time, had allegedly obtained at least $191,000 on multiple occasions between 2017 and 2018 from the director of Straits Bunkering Pte Ltd, Shafiq Bin Nezammuddin, as kickbacks for nominating Straits for the sup
LNG Carrier Rates More Than Double in Two Weeks
Tanker rates to ship liquefied natural gas (LNG) have more than doubled since the start of the month as a power crisis in Asia and Europe drives up demand for vessels, industry sources said on Tuesday.The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic meters of LNG to Pacific basin ports rose to $202,500 a day on Tuesday, the highest since Jan. 15, according to data from Spark Commodities.For the same type of ship moving in the Atlantic basin…
Charter Extension for Solstad's Platform Supplier
Norwegian offshore vessel owner Solstad Offshore has secured a contract extension for one of its platform supply vessels.In a brief statement on Wednesday, Solstad said that the one-year charter extension had been awarded to its 94,2-meter-long PSV Normand Server.The contract is now firm to January 2023, with two one-year extension options after that. Solstad did not say who the client was, nor did…
OMSA Announces Workforce Development Committee
The Offshore Marine Service Association (OMSA) on Tuesday announced the formation of the OMSA Workforce Development Committee and requested Members nominate professionals to the Committee. Like much of the international maritime industry, OMSA members are working to secure a sufficient number of mariners for their current operations, increased activity in traditional offshore markets, and the new offshore wind market.
Diana Shipping Forms Spin-off OceanPal
Dry bulk shipping company Diana Shipping Inc. announced Tuesday that, through a wholly-owned subsidiary, it has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 to effect a spin-off of three of the company’s older dry bulk vessels. OceanPal Inc., the newly formed subsidiary that will act as the holding company for the three dry bulk vessels, has applied to…
Muddy Water Dredging Orders New 24" Dredge from DSC
A newly formed dredging company has placed an order for what will be one of the largest dredges of its kind in the U.S. On October 12, Michael Kerns, President and CEO of Muddy Water Dredging, LP and Bob Wetta, President and CEO of DSC Dredge LLC, launched the project to build the custom 24” dual pump Marlin Class dredge to maintain U.S. navigable waterways.Muddy Water Dredging, LP (MWD) was established in late 2021 with corporate headquarters located in Orange, Texas. Co-owners Michael J.
Regulator Lays Charges Over 2018 Canada Oil Spill
The Canada-Newfoundland Offshore Petroleum Board said on Tuesday that it has laid three charges following a 2018 oil spill off Canada's Atlantic Coast.The board…
China, Russia Navy Ships Jointly Sail Through Japan Strait
A group of 10 naval vessels from China and Russia sailed through a strait separating Japan's main island and its northern island of Hokkaido on Monday, the Japanese government said, adding that it is closely watching such activities.It was the first time Japan has confirmed the passage of Chinese and Russian naval vessels sailing together through the Tsugaru Strait, which separates the Sea of Japan from the Pacific.While the strait is regarded as international waters…
Partners Launch New Hull Maintenance Service
HullWiper has joined forces with International Paint, a subsidiary of ship hull paint and performance coatings specialist AkzoNobel, and underwater drone ROV specialist Orobotix to provide ship owners and operators with comprehensive hull care support in a new partnership named Intertrac HullCare.The partnership offers high-performance coating schemes from International Paint tailored for different vessel types and operating profiles…
Shipping Industry Faces ESG Heat From Lenders
Banks are demanding much stricter environmental criteria when financing shipping companies as investor pressure grows on the sector to accelerate going greener, according to Boston Consulting Group (BCG).Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions and BCG forecast the industry will need $2.4 trillion to achieve net-zero emissions by 2050."ESG-driven requests are already prompting more action from banks.
Austal Launches New Australian Navy Patrol Boat
Austal Australia launched the first of six Evolved Cape-class Patrol Boats, to be constructed for the Royal Australian Navy at the company’s shipyard in Henderson, Western Australia.Austal was awarded a $324 million contract by the Australian Department of Defense in May 2020 for the six 58 meter Evolved Cape-class Patrol Boats, which include a number of enhancements that improve operational capability and crew capacity…
Detyens to Overhaul US Navy Cable Layer
Detyens Shipyards Inc. has been awarded an $8,991,045 firm-fixed-price contract for the overhaul of U.S. Navy cable layer USNS Zeus (T-ARC 7), the Pentagon announced Friday.Work to be performed under the 90-calendar day shipyard availability includes services for the regular overhaul and dry-docking availability of the 513.5-foot vessel. The contract also contains 11 unexercised options, which if exercised, would increase cumulative contract value to $9,975,203.Work at the North Charleston, S.C.
Amazon and Others Commit to Zero-carbon Ship Fuels by 2040
Amazon.com Inc and IKEA are among commercial users of container shipping that will opt for zero-carbon marine fuels by 2040 in a new initiative aimed at speeding up decarbonization in the maritime sector, executives said on Tuesday.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing scrutiny to become cleaner.The initiative…
The Satcom ‘Highway’ will Enable Maritime Digitalization & IoT Solutions
Global maritime communications powerhouse Inmarsat earlier this year announced a pair of new tech offerings – ORCHESTRA and ELERA – that are touted as ‘the communications network of the future.’ We caught up with Ronald Spithout, President, Inmarsat Maritime, for additional insights on how these services will power the future of maritime IoT.As digitalization and IoT continues to drive innovation across the maritime sector…
Port of Rotterdam Freight Volumes Rise 15% as Economy Recovers
Freight volumes in the port of Rotterdam increased 15% on a yearly basis in the third quarter as international trade continued to recover from its COVID-19 slump, Europe's largest sea port said on Tuesday.Trade flows to and from Rotterdam have been almost 9% higher in the first nine months of the year, with strong growth in almost all segments, the port said."These figures show that the economy is continuing its upward path.
