Weak Demand Across Vessels Drags Baltic Index to 10-month Low
The Baltic Exchange's dry bulk sea freight index extended losses on Wednesday to a 10-month low, pressured by lower rates across all its vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 124 points, or 5.8%, to 2,027, its lowest since March 16.The capesize index dropped 228 points, or 9.8%, to a 10-month low of 2,097.Average daily earnings for capesizes…
U.S. Gulf of Mexico Offers Tremendous Advantages for CCUS, But Regulatory Support Required, NOIA Says
The U.S. National Ocean Industries Association (NOIA) on Wednesday released the policy paper, Carbon Capture, Use, & Storage: An Economic, Employment, & Climate Opportunity for the U.S Offshore Region, where it says that while the U.S. Gulf of Mexico offers "remarkable emissions reduction opportunity here at home," the industry needs certainty and predictability in the regulatory system."Along with key policy recommendations…
Wilhelmsen Ship Management Takes a Majority Stake in Ahrenkiel Tankers
Wilhelmsen Ship Management signed a deal to acquire a majority stake in Hamburg-based Ahrenkiel Tankers, resulting in Wilhelmsen Ship Management taking over the management of five tankers and gaining 80% ownership of Ahrenkiel Tankers. The remaining 20% is held by existing owners MPC Capital Group. Ahrenkiel Tankers will be rebranded as Barber Ship Management.It marks the first step by Wilhelmsen Ship…
Nexans to Build 110km Subsea Power Cable for U.S. Offshore Wind Farm
Subsea power cable maker Nexans has received an order to manufacture approximately 110km of high voltage subsea cables to South Fork Wind, a joint venture between Ørsted and Eversource. The 3-phase 138 kV high voltage alternative current (HVAC) subsea export cables will be integrated with two fiber-optic cables and transmit 132 MW of electricity to Long Island, New York.Located 35 miles offshore from Montauk Point…
Shipping Giant Maersk Accelerates Decarbonization Plans
Container shipping giant A.P. Moller-Maersk now plans to achieve net zero emissions in its business by 2040, a decade earlier than previously announced, on the back of rising customer demand for green transportation and technical leaps.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions, and the sector is under growing scrutiny to become cleaner."When we set the target back in 2018…
Hornbeck Offshore to Acquire 10 Vessels from Edison Chouest
U.S.-based offshore vessel owner Hornbeck Offshore Services has agreed to acquire ten high-spec new generation offshore supply vessels ("OSVs") from Edison Chouest Offshore affiliates.Eight of the vessels are U.S.-flagged, Jones Act-qualified, 280 class DP-2 OSVs with capacities of circa 4,750 DWT. The other two vessels are Mexican-flagged 240 class DP-2 OSVs with capacities of circa 3,200 DWT. Upon completion of regulatory drydockings to be conducted by the Edison Chouest Offshore affiliates…
Autoship Systems Corp. Launches Offshore Stability Solution for Jack-ups. Bags Contract with Seaway 7
Canadian firm Autoship Systems Corporation (ASC) in cooperation with its Norwegian reseller, Coastdesign Norway (CDN), has developed an offshore stability software for jack-up vessels called - the Autoload® - Jack Up version and has won a contract to install the solution onboard Seaway 7’s first self-propelled jack-up vessel, VIND 1. Autoload is also installed onboard their entire fleet of vessels which include open deck semi-submersible heavy transportation vessels…
DEME to Buy Eidesvik's Viking Neptun Offshore Installation Vessel
Offshore installation company DEME has agreed to acquire Eidesvik's DP3 offshore installation vessel ‘Viking Neptun’. "Representing a substantial investment, this move highlights DEME’s commitment to its customers, and supports the continued growth of the offshore wind industry. This latest addition to its vessel fleet also confirms DEME’s mission to build future-proof, sustainable and environmentally friendly operations…
Simpson Spence Young Opens Athens Office
Shipbroker Simpson Spence Young (SSY) on Tuesday announced it has opened a new office in Athens, Greece.The new office, which is based in Glyfada, is being managed by SSY Dry Cargo broker Nicholas Vamvakaris and currently includes teams from the dry cargo division who focus on Cape, Panamax and the Handy Supra markets.SSY said it plans to expand the remit of this office in the near future to include other departments.Mark Richardson…
German Court to Rule in Row Over Funding for Shipbuilder MV Werften
A German court will rule next week in a case brought by Genting Group against a German regional government after a row over funding for cruise shipbuilder MV Werften, which filed for insolvency on Monday.Genting, led by Malaysian tycoon Tan Sri Lim Kok Thay, bought MV Werften in 2016. The pandemic has hit the global travel industry, including cruise operators and led to production stops at shipyards…
Canadian Coast Guard Begins Great Lakes Icebreaking
The Canadian Coast Guard's (CCG) annual icebreaking season on the Great Lakes, which provides assistance to the shipping industry, is underway. Working in partnership with the U.S. Coast Guard (USCG) District 9, the CCG has two icebreakers assigned to the Great Lakes for the entire winter season: CCGS Griffon and CCGS Samuel Risley. These vessels are supported as required by additional CCG vessels after the St. Lawrence Seaway reopens in March 2022.Although the St.
Urals Oil Exports from Russia's Baltic Ports Revised Upward
Russia's Urals oil export loading plan from Baltic ports in January has been revised upwards by 0.1 million tonnes to 6.2 million tonnes, traders said on Tuesday.Oil giant Rosneft added an additional cargo for loading from Primorsk Jan. 24-25, traders said. The cargo was allocated to Glencore, they added.Primorsk oil exports in January have been increased to 3.8 million tonnes, traders said.
Maersk Expects Cargo Delays to Persist
Top container shipping firm A.P. Moller-Maersk on Tuesday warned its customers it was still struggling to move goods around the world as the easing of congestion is taking longer than the Danish company had hoped for.The pandemic has prompted shortages of container ships and logjams at ports at a time of very high consumer spending, meaning that hundreds of container vessels are lying idle outside ports."Unfortunately…
Bay Shipbuilding Begins Building US' Largest LNG Bunker Barge
Fincantieri Bay Shipbuilding announced it has started construction on the largest liquefied natural gas (LNG) bunkering barge ever built in the U.S.The newbuild, expected to be completed in late 2023, is being built for Crowley, the largest independent operator of tank vessels in the U.S., who will operate the vessel under a long-term charter with Shell NA LNG, LLC. Bay Shipbuilding announced it won the contract to build the barge in September.The 416-foot vessel…
Nakilat Taps ABS to Develop Decarbonization Plan
Qatari shipping company Nakilat, one of the world’s largest liquefied natural gas (LNG) shipping operators, said it has partnered with U.S.-based classification society ABS to develop its decarbonization strategy.Over the past months, Nakilat’s project team has worked with ABS sustainability specialists to map out decarbonization pathways for the company’s fleet of 69 LNG carriers and four very large liquefied petroleum gas (LPG) carriers.
Uz Tapped as MD for Schottel Turkey
Effective January 1, 2022, Seçkin Uz has been appointed Managing Director for Schottel Turkey.Uz has extensive experience and expertise in the area of ship propulsion. After earning a degree in Naval Architecture and Ocean Engineering, he began his career with Berg Propulsion in the Asia/Pacific and Middle East region. Upon joining Caterpillar Marine as Managing Director for the entities in Dubai and Istanbul…
ABS Grants AIP for Ammonia Bunkering Vessel Design
Japanese shipping company Mitsui O.S.K. Lines, Ltd. on Tuesday announced that the company, along with ITOCHU Corporation has obtained approval in principle (AIP) from the American Bureau of Shipping (ABS) for an ammonia bunkering vessel concept.The project is part of a joint development study on ammonia fuel supply chain in Singapore. MOL, which already has experience and knowledge of liquefied natural gas (LNG) bunkering vessels…
Finnlines Announces Management Changes
Finnish passenger and ro-ro shipping company Finnlines announced on Tuesday that Merja Kallio-Mannila and Torkel Saarnio have been appointed as member of the group’s board of management.Kallio-Mannila has been appointed as member of the Finnlines Group’s board of management as of January 1. She continues in her present roles as deputy head of group sales, marketing and customer service, and as head…
Eye on Design: Repair and Conversion Conundrums in Hybrid Propulsion
I recently built a 35 foot Solar Hybrid Electric Wheelchair Accessible Catamaran for my wife who became wheelchair bound a few years ago. (In typing this sentence, I just realized that this vessel can be referred to as a SHEWAC)It is only a 35 foot recreational vessel, but it contains all the propulsion pieces that are found in any other modern hybrid propelled vessel.I have operated the vessel for…
Nautilus Labs Opens London Offiice, Taps Wilhelmsson as CCO
Nautilus Labs is expanding to the United Kingdom, opening an office in London to be led by Jan Wilhelmsson, an experienced shipping executive and Nautilus Labs' new Chief Commercial Officer (CCO).Wilhelmsson has more than 30 years of diverse shipping industry experience. Prior to Nautilus, as a former Master Mariner, he moved into commercially operating institutional-sized fleets before focusing on…
