Maersk Finds Potential Buyers for Its Stake in Russian Port Operator
Maersk has found possible buyers for its stake in Global Ports Investments, which operates ports in Russia as it withdraws from the country following a final cargo shipment this week, the Danish shipping group said on Wednesday.Maersk put its 30.75% share of Global Ports up for sale as it decided to quit Russia because of its invasion of Ukraine.It said talks were taking place with several potential…
Germany to Charter Four FSRUs in Push to Cut Reliance on Russian Gas
The German government on Thursday signed agreements for the charters of four floating storage and regasification units (FSRUs), as it works to become less reliant on Russian gas, as FSRUs will enable it to import LNG from other sources.The agreements were signed for the charters of two FSRUs owned by Oslo-listed firm Hoegh LNG, and two owned by Dynagas. Hoegh LNG FSRUs will be operated by RWE, while…
EU Eyes Ban on All Shipping, Financing Services for Russian Oil
The European Commission has proposed to ban in a month's time all shipping, brokerage, insurance and financing services offered by EU companies for the transport of Russian oil worldwide, an EU source told Reuters on Wednesday.The measure is part of a proposed embargo on Russian oil that is meant to cripple Russia's oil industry. Read full storyProvided the proposal gets the approval of EU governments…
MJP Taps Kirby to Lead Americas Sales
Waterjet propulsion systems supplier Marine Jet Power (MJP) announced it has appointed Kevin Kirby as president of MJP, Inc. and regional sales director of MJP in the Americas region. He will be responsible for business development, strategic market analysis and customer relations in addition to operations.Kirby brings more than 30 years of marine industry expertise, including marine design and engineering, program management and new product development.
Abu Dhabi's AD Ports to Develop Multi-purpose Terminals, Cruise Ship Berths Along Egypt’s Coastline
Abu Dhabi's AD Ports Group and the Red Sea Ports Authority have signed a Term Sheet and a Head of Terms agreement for what they say are major port projects along Egypt’s coastline, including multi-purpose terminals, and cruise ship berths.The first agreement will see AD Ports Group develop, operate, and manage a multi-purpose terminal in Safaga Port in a consortium with the Red Sea Ports Authority and the Egyptian Group for Multipurpose Terminals Company…
Everett Ship Repair Names New Drydock
On Wednesday, May 4, 2022, Everett Ship Repair, LLC (ESR) hosted a naming ceremony and grand opening for their newest drydock, the Emerald Lifter. The Emerald Lifter, formally the Zidell 220, was relocated to ESR’s facility at the Port of Everett last month. ESR performed maintenance and preservation before it was put into operation on May 3, with it’s first drydocking.The Emerald Lifter has a lifting capacity of 2,000 tons and a working deck of 220’ x 62’.
Raytheon, BMT, Austal Unveil Australian Independent Littoral Maneuver Vessel Design
Raytheon Australia, BMT and Austal Australia are working together in a bid to deliver the new Australian Independent Littoral Maneuver Vessel, or ILMV, for the Australian Army.If selected to deliver the Army’s LAND 8710-1A program, Raytheon Australia will lead the team to deliver the BMT-designed vessel, which will be built by Austal at the Henderson shipyard in Western Australia. Thee Australian ILMV is based on a proven design and tailored for the Australian environment…
Cadeler Raises $91,25M for Newbuild Wind Turbine Foundation Installation Vessel
Danish offshore wind turbine and foundation installation firm Cadeler has raised EUR 86 million (around $91,25M) via a private placement, with the plan to use the cash to fund a part of the construction of a new "hybrid" offshore wind farm foundation installation vessel.Announcing the private placement plans on Wednesday, the company said it was in talks with COSCO over a potential order to construct a purpose-built ship for the installation of large offshore wind farm foundations.
CNOOC Awards $2.4B Contracts for Construction of 12 LNG Carriers
China National Offshore Oil Company (CNOOC) has awarded 16 billion yuan ($2.42 billion) worth of contracts to build 12 liquefied natural gas tankers, the largest of their kind in the country, the company said on Thursday.China is the world's largest buyer of the super-chilled gas, while CNOOC is the country's largest importer of the fuel and among the state majors leading a drive to expand their LNG fleet to meet rising import needs and facilitate fast-growing global trade.
Inmarsat Says Its 'Fleet Xpress Enhanced' Enables Digitalization, Decarbonization, and Crew Wellfare
Maritime satellite communications company Inmarsat now offers a service called 'Fleet Xpress Enhanced', which it says enables digitalization, decarbonization, and crew wellfare for the global shipping sector,."Fleet Xpress, enhanced by Fleet Edge, brings together the best of Inmarsat connectivity solutions to help global shipping companies harness the full power of a connected maritime ecosystem,"…
Steeprop to Ferry Owners: Focus on TCO Instead of kW-power to Optimize Costs
Companies planning a new ferry build should focus on the Total Cost of Ownership (TCO) instead of kW-power, in order to optimize costs, Steeprop, a designer and manufacturer of azimuth propulsion systems, said.Choosing the propulsion unit based mainly on Capex, for example, will most likely increase costs in the long run, adding that a ferry owner can save more than two million euros over a 15-year…
Suez Canal Sees Record Monthly Revenue in April on Higher Traffic
Egypt's Suez Canal recorded its highest monthly revenue to date in April, reaping $629 million in ship transit fees, the authority managing the waterway said, as traffic rebounded from the impact of the pandemic.The monthly revenue in April was 13.6% higher than a year ago, canal authority chairman Osama Rabie said in a statement.The total number of ships that passed through the 193 km (120 miles) waterway that links the Red and the Mediterranean seas increased by 6.3% from a year ago to 1,929 v
DEME Offshore, Barge Master Develop Feeder Solution for U.S. Offshore Wind Farms
Belgian offshore installation firm Deme Offshore and Dutch company Barge Master, which specializes in offshore motion compensation systems, have partnered up to further develop a U.S. Jones Act-compliant feeder solution for the upcoming offshore wind projects in the U.S.Last year, DEME Offshore was selected by wind farm developer Vineyard Vind to provide the offshore transport and installation of 62 GE Haliade offshore wind turbines for the Vineyard Wind 1 project…
Cadeler in Talks to Order Offshore Wind Foundation Installation Vessel
Danish wind turbine installation company Cadeler is contemplating a private placement of shares to raise funds to pay for a portion of a planned order for a newbuild offshore wind foundation installation vessel (F-Class) vessel.The company, which owns two offshore wind turbine installation vessels, with another two (X-class) on order, said Wednesday it planned to raise between $70 – 90 million through…
Baltic Index Nears 6-week High on Capesize, Panamax Gains
The Baltic Exchange's main sea freight index rose to a near six-week high on Wednesday, helped by higher rates for capesize and panamax segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 73 points, or 3%, to 2,485 points, the highest since March 25.The capesize index rose 172 points, or 8%, to 2,319 points. Average daily earnings for capesizes…
Navios Maritime Partners Buys Four Tankers. Signs Charters for Two
Navios Maritime Partners, an owner and operator of dry cargo and tanker vessels, said Wednesday it had agreed to buy purchase four 115,000 dwt LR2 (Long-range 2) newbuilding tankers, for a purchase price of $58.5 million each plus $4.2 million in additional features/improvements."The vessels have been designed with the latest technology to optimize efficiency. They are expected to be delivered into Navios Partners’ fleet during 2024 and first quarter of 2025.
Tackling Shipping Emissions: e1 Marine's Methanol to Hydrogen Generator Gets LR AiP
e1 Marine M-series methanol to hydrogen generator has received Approval in Principle (AiP) for marine applications from class society Lloyd’s Register.The AiP represents an important landmark for demonstrating the compliance of e1 Marine’s technology with all applicable regulations, codes, and standards. This will act as a springboard for enabling the demonstration of the generator across different maritime sectors, from ports and towboats to offshore and deepsea vessels.
Robotic Hull-cleaning Firm Armach Announces Key Appointment
Following its public launch in March 2022, Armach Robotics, the robotic hull-cleaning subscription service has now promoted Karl Lander to Director, Regulatory Compliance and Outreach.Lander is a 25-year maritime veteran including 20 years in the US Coast Guard. He joined Armach as Senior Program Manager from sister company Greensea Systems where he served as Director, Hull Robotics. In his new role…
Intellian to Launch New Factory in South Korea
Satellite communications solutions company Intellian is set to launch another factory in Pyeongtaek, South Korea, marking an expansion of the company’s HQ base. The new factory, expected to be operational from August 2022, is located 4 km from the existing factory."The new facility and existing factory will run simultaneously, providing unparalleled production capacity of all existing product lines across maritime and land sectors…
United States Can Seize Russian Superyacht, Fiji Court Rules
Fiji court ruled on Tuesday that the United States can seize a Russian-owned superyacht, 21 days after it arrived and was impounded by police, as the United States…
