Baltic Index Rises to Over 1-month High on Stronger Capesize, Panamax Rates
The Baltic Exchange's main sea freight index rose to an over one-month high on Thursday, boosted by higher rates for capesize and panamax segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 159 points, or 6.4%, to 2,644 points, the highest since March 15.The capesize index rose 402 points, or 17.3%, to 2,721 points.Chinese iron ore and steel…
BOEM Environmental Review: No Significant Impact of Potential Offshore Wind Leasing in Area Off California
The U.S. Bureau of Ocean Energy Management (BOEM) said Thursday it had completed its environmental review of potential impacts from offshore wind energy leasing activities in the Humboldt Wind Energy Area, located 20 miles offshore northern California. Based on its analysis, BOEM has issued a finding of no significant impact (FONSI). “The completion of this Environmental Assessment represents an important…
U.S. Energy Department to Commit $2.25B to Carbon Storage Program
The U.S. Department of Energy intends to commit $2.25 billion for projects to store carbon dioxide underground and help fight climate change, it said on Thursday.The funding for carbon storage validation and testing over the next five years will come from the bipartisan infrastructure bill signed by President Joe Biden last year."The goal here is that at the end of the day, you do actually have commercially available facilities for storage…
Hornblower Gets Grant for Green Hydrogen Fueling Station
Hornblower Group on Thursday announced its subsidiary Hornblower Energy has received an $8 million grant from the U.S. Department of Energy (DOE) to design, construct and operate the first asset of its kind to produce green hydrogen through the use of hydroelectric power and dispense to ferry and maritime vessels in the United States. The first in the world of its kind, the three-year project officially began in 2021 in San Francisco with a projected completion date of 2025.
Krugh Named President of Bath Iron Works
General Dynamics appointed Gulfstream Aerospace executive Charles F. Krugh as president of General Dynamics Bath Iron Works.“Chuck’s leadership, proven track record in manufacturing and expertise in managing complex supply chains will be an enabler to Bath Iron Works as it expands and increases the pace of shipbuilding for the U.S. Navy,” said Robert E. Smith, executive vice president for Marine Systems.A U.S.
U.S. Union Workers to Build Ørsted's U.S. Offshore Wind Farms
North America’s Building Trades Unions (NABTU) and the offshore wind developer Ørsted on Thursday announced a Project Labor Agreement (PLA) to construct the company’s U.S. offshore wind farms with an American union workforce. A statement on the agreement released Thursday reads: "A first-of-its-kind in the United States, the National Offshore Wind Agreement (NOWA) sets the bar for working conditions and equity…
Hybrid-electric Tour Boat Enters Service in Svalbard
High-latitude tourism company Hurtigruten Svalbard has launched a first-of-its kind hybrid-electric excursion vessel in Longyearbyen, just 800 miles from the North Pole.The 14-meter vessel, Kvitbjørn, runs on a hybrid-electric propulsion system developed by Volvo Penta in partnership with Swedish boatbuilder Marell Boats and Hurtigruten Svalbard.The new 12-passenger aluminum vessel, which will take…
Hudong Zhonghua Orders GTT Tank Designs for Four LNG Carriers
France-based LNG carrier tank designer GTT has received an order from the Chinese shipyard Hudong Zhonghua (HZ) for the tank design of the first four LNG carriers for the Qatargas project on behalf of the ship-owner MOL.GTT will design the tanks of these four new LNG carriers with a total LNG tank capacity of 174,000 m3 per ship and will be fitted with the membrane containment system developed by GTT.The…
Höegh LNG Names New President & CEO
Oslo-listed LNG FSRU specialist Höegh LNG has appointed Erik Nyheim as the new President & CEO, effective from mid-August this year.Nyheim comes from the position as Partner of Boston Consulting Group's Norwegian office where he has successfully led their maritime practice since 2019. Prior to this, he worked for more than 15 years with the Wilhelmsen group. Nyheim holds a BSc Economics and Business…
Fiji Seizes Russian Oligarch Kerimov's $300M Yacht
Authorities in Fiji have seized a $300 million yacht of Russian oligarch Suleiman Kerimov at the request of the United States, the U.S. Justice Department said on Thursday…
TMC, Allseas Complete Initial Deepwater Trials of Polymetallic Nodule Collector Vehicle
The Metals Company (TMC) and Allseas have successfully completed the initial deep-water trials of the polymetallic nodule collector vehicle in the Atlantic Ocean, TMC said Thursday.To remind, back in March, The Metals Company (TMC), a company extracting battery metals from seafloor polymetallic nodules, said it had together with its strategic partner and shareholder, Allseas, completed the deployment…
PGS to Start Large Offshore Survey in Norwegian Sea Next Week
Norwegian seismic company PGS said Thursday it had secured solid industry pre-funding for a large MultiClient survey on the Northwest shelf of the Norwegian Sea. The Ramform Atlas vessel is currently mobilizing for the survey, with scheduled acquisition starting around May 10.President & CEO in PGS, Rune Olav Pedersen said:"This is the first large-scale MultiClient survey we are acquiring offshore Norway since 2020…
DB Schenker to Launch Un-Crewed Coastal Container Feeder in Norway
Supply chain management and logistics solutions firm DB Schenker plans to build a fully-electric, zero-emission, un-crewed coastal container feeder to serve the route between Ikornnes quay and the Port of Ålesund in Norway. DB Schenker, and its cooperation partners, the furniture giant Ekornes and vessel designers Naval Dynamics, in addition to KONGSBERG and Massterly, aim to replace the traditional…
Vigor Completes USS McCampbell Modification
Vigor reports it has completed the modernization of USS McCampbell (DDG 85) at Swan Island, sending the Arleigh Burke-class guided-missile destroyer on to its new homeport at Naval Station Everett, Wash. The 18-month, more than $155 million project was the largest ever completed by Vigor’s Ship Repair team, and the largest of its kind at Swan Island in nearly 30 years, the company said.“Our skilled workers at Swan Island were honored to support the U.S.
Survitec to Deliver Fire-fighting Systems for Spirit of Tasmania's New Eco Ferries
Survival Technology solutions provider Survitec has won a contract to supply advanced fire-fighting systems to a pair of 48,000grt LNG dual-fuelled eco ferries under construction at Finland’s Rauma Marine Constructions (RMC) for Australian shipowner Spirit of Tasmania."This is a major order from a returning customer,” said Michal Peruga, General Manager, Survitec, Poland. “This contract win demonstrates…
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…
