ABS to Class Maersk's Methanol-fueled Containerships
A groundbreaking series of eight large container vessels capable of being operated on carbon-neutral methanol ordered by Maersk, along with an option for a further four vessels, are to be built to ABS Class, the classification society announced on Tuesday.Ordered in August, the vessels will be built by South Korean shipbuilder Hyundai Heavy Industries and have a nominal capacity of approximately 16,000 containers.
China's August Exports Surprisingly Strong
China’s exports unexpectedly grew at a faster pace in August thanks to solid global demand, helping take some of the pressure off the world’s second-biggest economy as it navigates its way through headwinds from several fronts.The Asian giant staged an impressive recovery from a coronavirus-battered slump, but economic momentum has weakened recently due to the Delta variant-driven COVID-19 outbreaks…
Baltic Dry Index Slides to Three-week Low
The Baltic Exchange's main dry bulk sea freight index dropped on Tuesday to its lowest since mid-August, as demand eased across all vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, fell for a sixth straight session by 115 points, or 3%, to 3,707, its lowest since Aug. 17.The capesize index declined 271 points, or 5.1%, to 5,091, its lowest in three weeks.Average daily earnings for capesizes…
Exploring All Too Real Maritime Risks
The 11th Annual Maritime Risk Symposium: A Virtual Event Exploring All Too Real RisksThe past year has been as impactful for the world’s maritime transportation xystem as it has been for the rest of society. From the Suez Canal to the Arctic and beyond, human, technology and environmental events disrupted maritime activity. And the pandemic highlighted supply chain vulnerabilities in many ways, from mariners quarantined aboard vessels to port congestion due to COVID-driven surges in e-commerce.
New Maritime Equipment Supplier Nordic Fender Opens for Business
Norwegian company Fonna Vekst announced it has formed a new maritime equipment supplier called Nordic Fender.The Husnes-headquartered firm offers products in ship and port fendering as well as equipment for transferring liquid cargo between ships, including hoses, couplings, ropes and chains to customers worldwide.Åsmund Lilleaas has been hired as sales director to run the business.Nordic Fenders main product line, the pneumatic fender series, is in full compliance with the ISO 17357-1:2014 stan
ADQ Plans to List Abu Dhabi Ports on the Stock Exchange
State-backed holding company ADQ said on Tuesday it plans to list Abu Dhabi Ports Co on the Abu Dhabi Securities Exchange (ADX) before the end of the year.The proposed listing of a portion of existing shares is expected before the end of 2021, it said in a statement, subject to market conditions and obtaining regulatory approval.Established in 2006, Abu Dhabi Ports has 11 ports and terminals, and more than 550 square km ($334 miles) of industrial zones within Khalifa Industrial Zone Abu Dhabi (K
Ørsted, ATP Picks Leading Contractors for Danish Energy Island Bid
Denmark-based offshore wind developer Ørsted and ATP, Denmark’s largest institutional investor, have teamed up to bring leading offshore construction specialists to Denmark to support their bid for the North Sea energy island.Back in February, Denmark approved the construction of the first of its kind wind energy hub in the North Sea that promises to produce yet unseen amounts of green electricity…
SFL Buys Three Suezmax Tankers. Long Term Charters Secured
Shipowner SFL Corporation has agreed to buy three Suezmax tankers in combination with long-term time charters with what SFL said was "a world-leading commodity trading and logistics company." "The vessels are built in 2019 and have the latest eco-design features, including exhaust gas cleaning systems. The company expects to take delivery of the vessels in the fourth quarter," SFL, formerly known as Ship Finance International, said.
Fincantieri Cuts First Steel for Princess Cruises New LNG-powered Ship
Italian shipbuilder Fincantieri has cut first steel for the first of two LNG-powered cruise ships being built for Princess Cruises, a Carnival Corporation brand.The steel cutting ceremony took place last week in San Giorgio di Nogaro (Udine) at Centro Servizi Navali, a company that specialized in logistics and production of sheet metal for the Fincantieri yards located in northeastern Italy. The ship will be built in the Monfalcone yard.At 175…
Final Section of Nord Stream 2 Pipeline Welded into Place
The last section of the Nord Stream 2 gas pipeline has been welded into place, its operator said on Monday, meaning the two long stretches of the pipe can now be joined to complete the Baltic subsea link.The $11 billion pipeline, which will double Russian gas exporter Gazprom's (GAZP.MM) capacity via the Baltic Sea, has drawn opposition from the United States, Ukraine and others opposed to Europe increasing…
Over 80% of U.S. Gulf of Mexico Oil Output Still Offline
More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region.Energy companies have been struggling to resume production after Ida damaged platforms and caused onshore power outages. About 1.5 million barrels per day of oil production, or 84%, remains shut…
Seaway 7 Charters Maersk Connector Cable Layer
Danish offshore vessel operator Maersk Supply Service has secured a one-year contract for its Maersk Connector cable laying vessel with Seaway 7, a renewables branch…
Seadrill Closer to Chapter 11 Emergence as Court Nod Granted
Offshore drilling company Seadrill has moved a step closer to reaching bankruptcy emergence after the United States Bankruptcy Court for the Southern District of Texas approved the disclosure statement for the company's proposed plan of reorganization.Seadrill said Friday that the court had authorized the company to distribute the disclosure statement and solicit votes from all lenders on the Plan.
Coast Guard Probing 350 Reports of Oil Spills in Wake of Hurricane Ida
The U.S. Coast Guard on Monday said it was probing nearly 350 reports of oil spills in and along the U.S. Gulf Coast in the wake of Hurricane Ida.Hurricane Ida's 150 mile per hour (240 kph) winds wreaked havoc on offshore oil production platforms and onshore oil and gas processing plants. About 88% of the region's offshore oil production remains shut and more than 100 platforms unoccupied after the storm made landfall Aug.
Wärtsilä's Cargo Handling System for Fratelli Cosulich's LNG Bunkering Vessel
Finland-based marine equipment maker Wärtsilä will deliver a complete cargo handling system for a new LNG bunkering vessel being built in China for Italy's Fratelli Cosulich.The Wärtsilä system selected for this 8,200 cbm capacity bunkering vessel, under construction to at the Nantong CIMC Sinopacific Offshore and Engineering shipyard in China, includes a complete engineering, design and equipment supply package for the cargo handling system…
Global Offshore Lands Arcadis Ost 1 Offshore Wind Farm Gig
Global Offshore, part of Global Marine Group, has won a contract for the installation and burial of 27 array cables at Parkwind’s Arcadis Ost 1 offshore wind farm in the German Sector of the Baltic SeaGlobal Offshore will be responsible for the project management and marine engineering; cable protection systems supply and installation, pre and post lay surveys, cable loading and laying, cable burial…
Coast Guard: No Active Discharge Near Reported Oil Spill Sites in Gulf of Mexico
Following reports of oil spills found along the Southeast Louisiana coast in the aftermath of Hurricane Ida, the U.S. Coast Guard said Monday it had conducted overflights Sunday that focused on two locations previously identified for further investigation."Members of the National Strike Force aboard a Coast Guard HC-144 flew over Bay Marchand, south of Port Fourchon, Louisiana, and the Enterprise Offshore Drilling rig in the Gulf of Mexico…
BP Delivers Carbon Offset LNG Cargo to CPC in Taiwan
Oil major BP said Monday that its BP Singapore branch had delivered its ‎first carbon offset liquefied natural gas (LNG) cargo to CPC Corporation, Taiwan ‎‎(“CPC”), to the Yung An terminal in Taiwan in September 2021. The LNG was sourced ‎from BP’s LNG portfolio.‎"This is BP’s first delivery of carbon offset LNG in the Asia-Pacific region, following its ‎first delivery globally to Sempra LNG at the Energia Costa Azul terminal in Mexico in ‎July 2021.
DOF Subsea Sells Skandi Neptune Vessel
Norwegian offshore vessel owner DOF Subsea has sold its 2001-built construction support vessel Skandi Neptune.According to DOF Subsea, the vessel has been sold to…
Hyundai Heavy Industries Raises $935M. Eyes New Tech Investments
South Korean shipbuilder Hyundai Heavy Industries has raised $935 million after pricing its IPO at the top of its indicative range, with much of the proceeds set to fund investments in new technology.It offered 18 million new shares or 20% of shares outstanding in a range of 52,000-60,000 won per share.It is expected to list on the KOSPI on Sept. 16.Hyundai Heavy plans to use about 760 billion won ($660 million) of the proceeds to invest in future technologies…
