Port of Virginia Secures Funding for Channel Deepening
The Port of Virginia and the US Army Corps of Engineers today signed the agreement committing the federal government to begin its financial investment in the construction effort to widen and deepen the commercial shipping channels and Norfolk Harbor.With a group of federal and state officials in attendance, Virginia Port Authority CEO Stephen A. Edwards and Col. Brian P. Hallberg, the US Army Corps of Engineers’ Norfolk District commander, signed the Project Partnership Agreement.
Baltic Dry Index Gains for Sixth Week
The Baltic Exchange's main sea freight index rose on Friday to gain for a sixth consecutive week on stronger vessel rates across segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 55 points, or 1.7%, to 3,344 points. It rose 7.7% for the week.The capesize index rose 141 points, or 3.2%, to 4,526 points. The index rose for a sixth straight week…
Eagle Bulk's Scrubbers Investment Pays Off
U.S. shipowner Eagle Bulk's 2018 decision to outfit the majority of its dry bulk fleet with scrubbers has proven to be an environmentally sound and profitable decision, with an expected payback on investment by the end of 2022.The company's CEO Gary Vogel and Chief Strategy Officer Costa Tsoutsoplides said in a recent trade press interview that Eagle Bulk answered the MARPOL 2020 0.5% emissions ceiling…
Ship Designed to Collect Ocean Plastic and Convert It to Clean Hydrogen
An innovative ship is being designed to collect plastic waste from the world’s oceans and then convert it into clean hydrogen, allowing surplus hydrogen to be shipped back to shore.At least 14 million tons of plastic end up in the ocean every year, according to the International Union for Conservation of Nature (IUCN). This type of debris—which is currently the most abundant type of litter in the ocean…
Tech File: Hillhouse Industrial Shaftmaster 6000
In business since 1984 and weathering the various economic and market ups and downs over the last 40 years, Hillhouse Industrial Marine Inc. have progressed to its current system: The Shaftmaster 6000, which provides shaft RPM, shaft horsepower, shaft torque, total shaft horsepower hours, total shaft kW/hr., total shaft revolutions, total engine hours and specific fuel consumption.The system from Hillhouse…
Ten Year Deal: Finland Charters Excelerate Energy's FSRU
U.S.-based LNG company Excelerate Energy and a subsidiary of Gasgrid Finland, a Finnish state-owned natural gas transmission system operator, on Friday signed a ten-year deal in Helsinki for the charter of a floating storage and regasification vessel (FSRU) that they said would provide "flexible, reliable, and secure" supply of liquefied natural gas (LNG) to Finland, Estonia, and the Baltic Sea Region.Excelerate President and CEO Steven Kobos…
Econowind's Wind-assisted Propulsion for Vertom's Vessels
Dutch shipping firm Vertom has signed an agreement with Econowind, which provides wind-assisted propulsion solutions for seagoing ships, to install wind-assist VentiFoil units on Vertom's vessels.The Ventifoil has been described as a wing-shaped element using modern innovations in aerodynamics, creating high propelling force relative to its size. Smart suction is integrated in the wing, resulting in double the force of the Ventifoil, while reefing when needed.
U.S. Preparing New Five-year Plan for Offshore Oil and Gas Auctions
The Biden administration will propose a new five-year plan for offshore oil and gas development by June 30, the date when the current plan expires, Interior Secretary Deb Haaland said on Thursday.The announcement comes as the administration has faced pressure from Republican lawmakers to expand domestic drilling to address soaring fuel costs. President Joe Biden, however, wants to reform the federal…
CIP Proposes to Build Hydrogen Island in Danish Dogger Bank Area
Copenhagen Infrastructure Partners (CIP) has proposed to construct an artificial island dedicated to large-scale production of green hydrogen from offshore wind – called "BrintØ" - in the Danish part of the North Sea. According to CIP, one of the world’s largest dedicated fund managers within greenfield renewable energy investments, the Hydrogen Island is expected to be able to produce one million…
Inpex Plans Maintenance at Australia's Ichthys LNG from July 1 to Aug. 5
Japan's Inpex Corp plans to conduct scheduled maintenance at its Ichthys liquefied natural gas (LNG) plant in Darwin, Australia, from around July 1 to Aug.
