River Rhine Level in Germany Drops Further, Ships Only Part-loaded
Water levels on the Rhine in Germany fell again during hot dry weather over the weekend and cargo vessels cannot sail fully loaded, vessel brokers and commodity traders said on Monday.Shallow water is causing problems for shipping on the entire river in Germany. The Rhine is one of the key channels linking Germany's industrial heartlands with the North Sea ports from which products are exported to world markets.Freight shipping on the river continues…
Shell Delays Prelude LNG Maintenance Due to Industrial Action
Shell Plc said on Monday it is deferring planned maintenance work at the Prelude floating liquefied natural gas (FLNG) facility that was due to go ahead in September…
Cocaine Seized from Containership in Sydney
Australian law enforcement has seized 700 kilograms of cocaine from a Maersk containership at Sydney's Port Botany.The dugs were discovered by Australian Border…
New Malacca Strait Ferry Enters Service
A new 255-seat passenger ferry Indomal Empire has entered service for operator Indomal Express on the Malacca Strait between Indonesia and Malaysia.The Incat Crowther 30 ferry was built by PT Cahaya Samudra Shipyard in Batam, Indonesia. Indomal Empire was specifically developed to cater to a segment of the market demanding lower ticket prices and subsequently less complex and yet still very capable vessels…
Windstar Cruises Names Rom Senior Sales Director
U.S. headquartered Windstar Cruises has promoted Dianna Rom to senior director of sales, leading the domestic and international sales team for the Windstar brand.Rom has been with Windstar for seven years, first as a Midwest regional sales manager and most recently as director of field sales where she was responsible for managing all Windstar regional sales managers and business development managers.
How the Blue Economy Will Shape the Future of Canada’s Oceans
The words “blue economy” will soon shape the future of Canada’s oceans, from the fiords and straits of British Columbia to the rugged coastlines of the Atlantic to the vast seascapes of the Arctic. The transformation of Canada’s ocean economies will be felt throughout the country and will set an example for nations around the world.But what is a blue economy? And what makes it different from business as usual?The term blue economy was first championed by small-island developing countries…
Four Cargo Ships Sail from Ukraine
Four ships carrying Ukrainian foodstuffs sailed from Ukrainian Black Sea ports on Sunday as part of a deal to unblock the country's sea exports, Ukrainian and Turkish…
Commerce Flows Normally After John Day Lock Repaired
Commerce is now moving normally along the Columbia River and through John Day Lock after U.S. Army engineers completed repairs to damaged guide wheels by 12:30 p.m., August 5. Technicians originally discovered damage to a lower guide wheel on July 25, which initially closed the lock, and then slowed traffic at that point in the river.The U.S. Army Corps of Engineers was able to re-open the lock to river traffic on July 26 by using a floating bulkhead.
First Foreign-flagged Ship Arrives in Ukraine Since February, Awaits Grain Load
A foreign-flagged ship arrived in Ukraine on Saturday for the first time since the war started in February, and will be loaded with grain, Ukrainian Infrastructure…
Less US Gas to Asia, Freeport Explosion Reduce LNG Vessel Transit Through Panama
The Panama Canal has seen a 30% fall in the traffic of vessels carrying liquefied natural gas (LNG), driven by Asia's weak demand for U.S. LNG and limited exports from the U.S. Gulf Coast since a terminal explosion in June, the waterway's authority told Reuters this week.Second-largest U.S. exporter Freeport LNG's Texas plant continues shut since an explosion in early June and its partial restart is not expected until October, curtailing the U.S.
RIMPAC Naval Exercise Brings Together 'Capable Adaptive Partners' from 28 Nations
The 2022 biennial, multi-national Rim of the Pacific's (RIMPAC) exercise has come to a close.This year’s exercise with the theme of “Capable Adaptive Partners,” featured 26 participating nations and 38 surface ships, three submarines, more than 30 uncrewed systems, approximately 170 aircraft, and more than 25,000 personnel.RIMPAC 2022 featured a wide range of capabilities--projecting the inherent flexibility of maritime forces and helping to promote a free and open Indo-Pacific…
NASSCO Awarded $1.4 Billion to Build US Navy Ships
Shipbuilder General Dynamics NASSCO, a subsidiary of aerospace and defense company General Dynamics (GD), announced on Friday that it received $1.4 billion in U.S. Navy contract modifications for construction of a sixth Expeditionary Sea Base ship (ESB 8) and two additional John Lewis-class fleet oilers (T-AO 211 and 212). This award comes in addition to $600 million already received to procure long-lead time materials for the same ships.
US Announces $172 Million to Improve Ferry Service
The Biden-Harris Administration on Friday announced new funding aimed at improving ferry service across the U.S. The U.S. Department of Transportation’s Federal Highway Administration announced $172.2 million in Fiscal Year 2022 formula funding under the Bipartisan Infrastructure Law improve ferry service and provide more travel options in 35 states and three territories.“Many Americans rely on ferry service as a primary means of travel…
Eni Buys Exmar's Tango FLNG for Use in the Congo
Italian oil major Eni announced it has signed a deal to to buy the Tango FLNG floating liquefaction plant from Belgium-based Exmar for use in the Republic of Congo. Under the agreement, Eni will acquire Exmar's company Export LNG Ltd, which owns the Tango FLNG.Tango FLNG, delivered in 2017, has a storage capacity of 16,100 cubic meters of liquefied natural gas (LNG) and a liquefaction capacity of up to 0.6 million tons per year.The value of the transaction is in a range of $572 and $694 million…
Excelerate, Engro Exploring LNG Regasification in Pakistan
Excelerate Energy said it has signed a memorandum of understanding (MOU) with Engro Eximp FZE, a subsidiary of Engro Corporation, to evaluate the possibility of establishing a regasified liquefied natural gas (LNG) marketing business with maximum participation from Pakistan’s private sector."This collaboration has the potential to increase the private sector’s participation in Pakistan’s LNG sector…
Braemar Names Beckwith HR Director
Braemar, expert advisors in shipping investment, chartering, and risk management, today announced the appointment of John Beckwith as Group Director of Human Resources.The hire of Beckwith strengthens Braemar’s leadership team, enhances and enables Braemar’s ability to grow organically and via Mergers and Acquisitions (M&A), and it represents a further investment in the professional development of…
China's Military Drills Near Taiwan Disrupt Key Shipping Lanes
China's military exercises in the waters around Taiwan have prompted some ships to navigate around the Taiwan Strait and give the island a wide berth, disrupting key trading routes for cargo and commodities sailing around the world, analysts said.Angered by U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan, China on Thursday began four days of military drills around the disputed island…
Ukraine Seeks to Extend Shipping Safe Passage Deal Beyond Grain
Three grain ships left Ukrainian ports on Friday while the first inbound cargo vessel since Russia's invasion was due in Ukraine to load, as Kyiv called for the safe passage deal to be extended to other cargoes such as metals.The July 22 deal marked a rare diplomatic breakthrough as war rages in eastern Ukraine, with Kyiv trying to rebuild its shattered economy after more than five months of conflict."We expect that the security guarantees of our partners from the U.N.
Baltic Dry Index Slips to Six-month Low
The Baltic Exchange's main sea freight index dipped to a near six-month trough on Friday and registered its worst week in more than two months, hit by weakness across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 43 points to 1,560, its lowest since Feb. 8.Neils Rasmussen, chief shipping analyst at BIMCO, attributed recent declines…
Atlas Receives $3.64 Billion Takeover Offer from Poseidon
Asset manager Atlas Corp said on Thursday it received a takeover offer from consortium group Poseidon Acquisition Corp in an all-cash deal for $3.64 billion.Poseidon, which comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family, and Japanese shipping company Ocean Network Express Pte Ltd, has made an offer to the asset manager for $14.45 cash per common share.The offer represents a 24.9% premium to Atlas' closi
