Guangzhou Shipyard Delivers Pair of Innovative Newbuild Ships
Guangzhou Shipyard delivered a pair of innovative ships recently: the 274m, 157,300 dwt Greenway reported to be the world’s first LNG dual fuel Suezmax tanker built for Singapore headquartered shipowner Eastern Pacific Shipping Pte. Ltd.; and the 49,990 dwt tanker Stena Pro Marine, the second methanol-fueled ship ever built in China.The Stena Pro Marine was handed over to Proman Stena Bulk, a joint venture between Sweden’s Stena Bulk AB and Switzerland-headquartered Proman…
Norway's OSM Maritime Buys New Zealand's Kingston Offshore Services
Norway's offshore and maritime services provider OSM Maritime (OSM) has bought New Zealand’s oil and gas and offshore marine service firm Kingston Offshore Services. "The acquisition was completed on June 30th and aims to further strengthen OSM’s current operations and services in Oceania," OSM said.The company’s founder, Kurt Aldam will become part of OSM, in the organization that will be headed by OSM’s Oceania MD, Casey Munyard.
Ship Recycling Market Prices continue Free Fall
The degraded performance across the ship recycling sector over the last few (and painful) months shows few signs of abating just yet, as it has been a veritable tale of misery, even though prices remain at some of the firmest levels we have seen over the last decade. Down from the peaks of $700/Ton, levels nearly $100/LDT lower have left a bad taste in most mouths in the industry.Certainly, the last time prices crashed from the psychological $700/LDT barrier was back in 2008…
Egypt's Suez Canal Revenue Hits Record High of $7B
Egypt's Suez Canal revenue hit a record high of $7 billion in the financial year to June 30, up 20.7% from the previous year, Canal Authority Chairman Osama Rabea said on Monday.A statement from the authority attributed the rise to an increase in vessel numbers and cargoes, with total cargoes reaching a record high of 1.32 million tonnes, up 10.9% from 2020/21.The number of vessels transiting the canal rose 15.7% to 22,032.The canal is the fastest shipping route between Europe and Asia and one o
U.S. to Reward Tips on Illicit Cargos in the Middle East
The U.S. Navy will for the first time reward individuals for providing information that leads to the seizure of illicit cargos such as illegal weapons or narcotics in waters across the Middle East, it said on Tuesday.The U.S. Naval Forces Central Command (NAVCENT), which is headquartered in Bahrain and covers strategic waterways such as the Suez Canal and Strait of Hormuz, said the rewards could be in cash or items such as boats."NAVCENT could potentially reward a maximum $100…
Twelve Bodies Recovered From Waters Off Hong Kong After Typhoon Chaba Sinks Ship
Chinese search and rescue officials pulled 12 bodies on Monday from waters southwest of Hong Kong after an engineering vessel snapped in two as tropical storm Chaba passed through, state television said.Maritime authorities of the southern province of Guangdong were stepping up efforts to identify the bodies, suspected to have drowned, after they were retrieved about 50 nautical miles from where the stricken ship sank…
Greece Can Cope With Possible Russian Gas Disruptions Thanks to LNG - Minister
Greece can cope well with potential cuts in Russian gas supply due to the availability of liquefied natural gas (LNG) as an alternative, its energy minister said on Monday after a meeting with energy suppliers and grid operators on energy security.The country relied on Russian gas via the TurkStream pipeline for 40% of its needs last year. About 70% of its gas imports are used in power generation.Russian…
MPC Container Ships Orders Two "Carbon-neutral" Container Ships
Norwegian shipowner MPC Container Ships has contracted two carbon-neutral 1,300 TEU newbuildings at Chinese-based shipyard Taizhou Sanfu Ship Engineering for delivery in the second half of 2024.The vessels come with a dual fuel engine setup which enables operation on methanol as well as conventional MGO.The company said the order woul allow it to "take a significant leap forward in its commitment to use carbon-neutral solutions in regional container trades together with strong partners."The vess
Five-year Plan: U.S. to Hold Between Zero and 11 Offshore Drilling Lease Sales
President Joe Biden's administration on Friday unveiled a five-year proposal for offshore oil and gas development in areas of existing production, and said the final plan may have anywhere from zero to 11 lease sales.The range of options, between two auctions a year and none at all, sought to balance the administration's efforts to fight climate change with its calls to increase oil and gas supplies…
Sembcorp Marine Delivers 2nd Battery-powered Ropax Ferry to Norled
Singapore-based shipbuilder Sembcorp Marine has delivered the second of three identical battery-operated roll-on/roll-off passenger (“Ropax”) ferries to Norwegian ferry operator Norled.Designed by Sembcorp Marine's subsidiary LMG Marin, the shipbuilder says that the zero-emission vessel will be capable of operating at a service speed of 10 knots, powered by lithium-ion batteries which are charged using green hydro-electric power.
APC to Recoat Ten Tankers in Turkey
U.S.-based Advanced Polymer Coatings (APC) has signed a major multi-ship deal to recoat ten tankers with Turkish ship management firm Chemfleet.The deal was signed at Chemfleet’s Istanbul office by APC’s global marine manager, captain Onur Yildirim, and its Turkey marine manager captain Koray Karagoz. According to Captain Yildirim, APC now holds 80% of the Turkish marine coatings market having coated…
ClassNK Launches PrimeShip-PSC Intelligence Mobile App
ClassNK has released the latest version 2.0.0 of “PrimeShip-PSC Intelligence”, a mobile app to assist the improvement of Port State Control (PSC) performance and ship management systems, provided free of charge."Based on the database of PSC reports inputted by ship managers, shipowners, and ClassNK, “PrimeShip-PSC Intelligence” provides various functions helping improve ship management systems, including…
Fire Extinguished at Equinor's Largest Refinery
A fire that broke out at Equinor's Mongstad oil refinery on Norway's west coast early on Sunday was now extinguished, the company said, affecting the unit producing gasoline.The fire broke out in a part of the refinery that produces gasoline, Equinor said, adding that the main part of the refinery was still in operation."The fire is extinguished," said a company spokesperson.Mongstad is Equinor's largest refinery and has a crude oil and condensate distillation capacity of 226,000 barrels per d
Cutting Emissions: Vestas Testing Use of Hydrogen-powered Crew Transfer Vessel
Danish offshore wind turbine manufacturer Vestas is partnering up with Windcat Workboats to launch a pilot program to explore how "the world’s first" hydrogen-powered crew transfer vessel (CTV) can help reduce carbon emissions from its offshore service operations. According to Vestas, the CTV is powered by a dual-fuel solution, capable of being powered by hydrogen in a combination with marine gas oil.
More Than Two Dozen Missing after Ship Snaps in Two, Sinks Off Hong Kong
More than two dozen crew on an engineering [reportedly an offshore wind] vessel [Fujing 001] with 30 people on board were missing after it snapped in two in waters off Hong Kong as tropical storm Chaba passed through, authorities said.Three crew members were rescued, and search and rescue operations were continuing for others about 300 km (200 miles) southwest of the city, the Hong Kong Government Flying Service said.
Ulstein: Is THOR’s Superpower Shipping’s Silver Bullet?
Shipbuilder and designer Ulstein is looking to take its revolutionary Thorium powered vessel concept from the drawing board to the deep blue sea. Is this the solution that industry, and society, have been searching for to enable a truly sustainable maritime future?Everything about the launch of ULSTEIN THOR was unexpected.The vessel concept, a 149m 3R (Replenishment, Research and Rescue) design with a Thorium Molten Salt Reactor (MSR), took the industry, and wider society, by surprise.
Seized Iranian-flagged Tanker Taken to Piraeus Port
An Iranian-flagged tanker seized by Greece in April, part of whose cargo was confiscated by the United States, was being towed to the port of Piraeus on Saturday, Greek coast guard officials said, after Greek authorities approved its release.For over two months the Iranian-flagged Lana has been anchored off the Greek island of Evia in a diplomatic impasse which strained Athens' relations with Tehran…
Techcross moves Japan Office from Fukuyama to Osaka
Techcross, a manufacturer of ballast water management system, announced on July 1, 2022, that it would move its Japanese office located in Fukuyama to Osaka.The Techcross ballast water management system has already been installed on more than 1,000 Japanese ships, occupying the largest market share in Japan. Techcross explained that its office has moved to the Osaka area, where transportation is convenient…
Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices
Russia announced on Friday a decree that seizes full control of the Sakhalin-2 gas and oil project in the country's far east, a move that could force out Shell and Japanese investors and adds another bullish factor to prices in a tight global LNG market.The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell SHEL.L and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%.
Cadeler Secures $192,3M Loan to Fund New Offshore Wind Vessels
Offshore wind installation contractor Cadeler has entered into a Senior Secured Green Revolving Credit Facility (“RCF”) of a 3-year term loan of EUR 185 million (around $192,3 million). Together with the company’s cash and cash equivalents, the RCF facility will be used to finance Cadeler's newbuild offshore wind turbine and foundation installation vessels, and acquisitions as well as for general corporate…
