SFL to Acquire PCTC with Long-term Charter
SFL Corporation Ltd. has agreed to acquire a Pure Car Truck Carrier (“PCTC”) in combination with a long term time charter to a leading car carrier operator until 2028.The company expects to take delivery of the vessel during the fourth quarter. The fixed rate charter backlog will increase by approximately $65 million, with the possibility of additional upside from profit share related to fuel savings from the vessel’s scrubber.
China Says U.S. has 'No right' to Interfere in Hamburg Port Deal
The U.S has "no right" to interfere in Chinese cooperation with Germany, China's foreign ministry said Thursday, after Washington cautioned against Beijing getting a controlling stake in Hamburg's port terminal. U.S. interference is symptomatic of its practice of coercive diplomacy, foreign ministry spokesman Zhao Lijian told reporters at a daily briefing in Beijing. "Pragmatic cooperation between China and Germany is a matter for the two sovereign countries…
Shipbrokers IFCHOR and Galbraiths to Merge
Shipbrokers IFCHOR and Galbraiths have agreed to merge and are in the final stages of completing a share for share agreement which is expected to close in the next few weeks.
MTR100 Spotlight: Armach Robotics
The MTR100 is a look at the 100 leading companies, technologies and people in the global subsea sector. In the September/October edition, Marine Technology Reporter published the 17th Annual MTR100. Today's spotlight is on Armach Robotics, launched by Greensea Systems Inc.Armach Robotics (Armach) is setting out to revolutionize proactive in-water cleaning of ship hulls by using of small, autonomous robots.
More Than 60% of Port of Aberdeen's South Harbour Expansion Project Operational
More than 60% of the Port of Aberdeen's £400 million South Harbour development is now operational, marking the project's penultimate construction milestone, the port said in a statement on Thursday.The handover from construction to operations for Dunnottar, Crathes, and Castlegate (East) Quays was completed this week. Castlegate (West) is scheduled to open in December 2022, and the remaining Balmoral Quay will be brought into service in Q2 2023…
Core Profit Surges Tenfold at Oil Tanker Firm Euronav
Euronav's core profit was more than ten times higher in the third quarter than in the same period last year as the recovery in large crude tanker freight rates accelerated, the Belgian oil tanker and storage operator said on Thursday. The crude shipping market, which has battled with low earnings since the pandemic first hit oil demand, is now seeing freight rates recover, while this year's trade flow disruptions due to sanctions on Russia have driven shipping activity.
ExxonMobil Books Maersk Nomad SSV for Operations in Guyana
U.S. oil major ExxonMobil has chartered the Subsea Support Vessel (SSV) Maersk Nomad for a minimum one-year contract, supporting its field development activities offshore Guyana.Maersk Nomad will be operating with two ROVs onboard, providing general and subsea support scopes for ExxonMobil’s six ultra-deepwater drillships currently operating offshore Guyana in the Stabroek Block. The first charter is expected to start in mid-November 2022…
Matson Orders Three LNG-fueled Containerships from Philly Shipyard
U.S.-based ocean carrier Matson announced it has placed a $1 billion order with Philly Shipyard for the construction of three new 3,600 TEU Aloha Class containerships.The first vessel is expected to be delivered in the fourth quarter of 2026 with subsequent deliveries in 2027.Matson, which aims to achieve a 40% reduction in Scope 1 fleet emissions by 2030 and net-zero Scope 1 by 2050, said the three…
Teekay Names Speers EVP & CFO
Teekay Corporation announced Vince Lok’s retirement as Teekay’s Executive Vice President and Chief Financial Officer effective January 1, 2023, after nearly 30 years with the company, including the past 16 years as Teekay’s Group CFO.Upon Lok’s retirement, Brody Speers, Vice President, Finance & Treasurer, will be assuming Lok’s responsibilities, along with continuing to oversee Teekay’s Finance, Accounting and Tax teams.
Great Lakes Limestone Up 10.7% in October
Shipments of limestone on the Great Lakes totaled 3.9 million tons in October, an increase of 10.7% compared to a year ago, according to latest figures from the Lake Carriers’ Association (LCA). Limestone cargos were also above the month’s five-year average by 10.9%.Loadings from U.S. quarries totaled 3.2 million tons, an increase of 9.7%, while shipments from Canadian quarries totaled 736,157 tons…
ABS to Support Industrial-Grade, Cyber-Physical Platform for Shipboard OT
ABS has been announced as the industry collaborator to build the Maritime Testbed of Shipboard Operational Technology (MariOT) Systems. The project is led by iTrust…
Foreship Makes a Pair of Senior Appointments
Foreship made two senior appointments to grow its design and technology capabilities to support shipping’s sustainable future. From November 1, Joonatan Haukilehto joins Foreship as Lead Consultant, Newbuilds & Decarbonization, while Pekka Pohjanen is appointed Senior Technology Specialist, Sustainability.Based at Foreship’s Helsinki head office, Haukilehto and Pohjanen add extensive expertise in advanced…
AIP for C-Claw Fastener for Marine and Offshore
Bureau Veritas delivered an Approval in Principle to COLD PAD, an industrial start-up, for its C-Claw technology, a heavy-duty fastener for steel structures that is non-intrusive (no hole and no hot work is required). It was designed as an alternative to welding and drilling for the maritime and offshore sectors. The technology offers a quick fastening solution for any structural outfitting, maintenance and modification operations…
NETSCo Promotes Two Senior Leaders
NETSCo, a naval architecture and marine engineering firm located in Columbia Station, Ohio, has promoted two of its senior employees to new leadership roles. David Hossenlopp, P.E, has been promoted to the position of Chief Naval Architect, and Nick Hunter, P.E. to Senior Naval Architect / Marine Engineer.“David has been with NETSCo since 2013,” said Richard Mueller, CEO/President, “and throughout…
Hydrogen-powered Tug Hydrotug 1 Arrives in Ostend
The word's first hydrogen-powered tugboat recently arrived in the port of Ostend where it will undergo further work before entering service in 2023.Built at Armón Shipyards in Navia Spain, the Hydrotug 1 was launched in May, and in the following months remaining construction works on the vessel were completed.The groundbreaking vessel is part of an integrated greening program for the Port of Antwerp…
Meyer Turku Delivers Cruise Ship Carnival Celebration
Finnish shipbuilder Meyer Turku on Wednesday delivered the liquefied natural gas (LNG) fueled cruise ship Carnival Celebration to Carnival Cruise Line.Tim Meyer, CEO of Meyer Turku, describes this ship's handover as special in many ways: "First of all, the ship is dedicated to the 50 years of Carnival Cruise Line. Second, Carnival Celebration will begin service immediately after the handover, which tells us that the demand for cruises…
Baltic Index Extends Fall on Lower Vessel Demand
The Baltic Exchange's dry bulk sea freight index extended its fall to an 11th session on Wednesday, as demand waned across all segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 56 points, or about 4.1%, to 1,321.The capesize index shed 102 points, or about 7.4%, to 1,286.Average daily earnings for capesizes .BATCA…
Indonesia Calls Off Search for 17 Missing after Boat Fire
Indonesian authorities have halted the search for 17 missing passengers from a boat that caught fire while at sea last week in East Nusa Tenggara, believing the probability of their survival to be low, a local rescue official said on Wednesday. Twenty people had been found dead during the search operation, which began after a passenger boat caught fire on waters near Timor Island on Oct. 24, the head of the local rescue team, I Putu Sudayana, told Reuters.
NYK to Order Two LNG-Fueled Large Coal Carriers
Japan's NYK is set to order two LNG-fueled large coal carriers from Oshima Shipbuilding Co., Ltd. The vessels are scheduled to be delivered in 2025."This ship order is a part of a bulk carrier fleet development aimed at achieving net-zero greenhouse gas (GHG) emissions in the NYK Group's oceangoing businesses by 2050," NYK said.NYK says that compared to conventional heavy oil-fueled ships, the two new ships will emit zero sulfur oxides (SOx)…
US Mid-term Elections Bring Changes, Uncertainty in Congressional Maritime Leadership
Regardless of whether the Republicans seize or the Democrats maintain control of the House and Senate, there is a guarantee that changes in leadership will occur in some of the key Congressional leadership positions that will impact the maritime industry. Two of the most significant Congressional committees of jurisdiction are the House Transportation and Infrastructure Committee (House T&I) and the Senate Committee on Commerce, Science, and Transportation (Senate Commerce).
