Performance Shipping Takes Delivery of Secondhand LR2 Tanker
Greek shipowner Performance Shipping Inc. announced it has taken delivery of its first LR2 Aframax oil product tanker, a 2010-built 105,304 dwt vessel it purchased…
Snam Confirms 2022 Guidance, aims to boost Italy's Gas Storage & Transport Facilities
Italian gas grid operator Snam confirmed on Thursday its guidance for full-year net profit after reporting a rise of 10% in nine-month revenue to 2.4 billion euros ($2.41 billion).
Furetank and Algoma Order Four More Ships for FureBear JV
Swedish Furetank and Canadian Algoma Central Corporation expand the FureBear joint venture to include eight climate-friendly, dual-fuel product tankers to trade in Northern Europe.The 50/50 owned joint venture was announced in August and is now extended with four additional 17,999 DWT tankers, bringing the total investment to eight vessels.Like the initial four vessel order, the additional four ships will be constructed at China Merchants Jinling Shipyard in Yangzhou, China.
Viasat, Cobham Satcom announce Collaboration
Viasat and Cobham Satcom announced the companies are collaborating on a new, advanced satellite connectivity solution for the maritime and energy industries in preparation for the launch of Viasat’s next generation satellite constellation, ViaSat-3.The connectivity system, which will include a portfolio of groundbreaking antenna systems from Cobham Satcom, is being designed to deliver advanced, high…
Marubeni Taps 'Suction Sails' for Bulk Carrier
MMSL PTE. LTD., a wholly owned subsidiary of Marubeni Corporation based in Singapore signed an agreement with bound4blue to install four suction sails on the Crimson Kingdom, making it the first wind-assisted vessel owned by Marubeni. According to the preliminary studies, the 229-m Panamax bulk carrier will be retrofitted in 2023/24 with four 26-m eSAILs, expected to be the largest suction sails ever built and installed on a vessel.
Steiner Shipyard to Build New Vessel for Maine State Ferry Service
Bayou la Batre, Ala. shipbuilder Steiner Shipyard has been selected by the Maine Department of Transportation for the construction of the Matinicus Island Replacement Ferry for the Maine State Ferry Service (MSFS).The 104-foot passenger/vehicle ferry is designed by Gilbert Associates. Once completed, the ferry will provide the Rockland-based ferry service with a brand-new vessel capable of servicing the MSFS’s longest route to Matinicus Island (23 miles).
Can Ukraine's Grain Deal Ease the Global Food Crisis?
A deal to free-up vital grain exports from Ukraine expires on Nov. 19, and intense negotiations over the next few days will determine whether it is extended and possibly even expanded to help ease concerns about global food security.The agreement, reached in July, created a protected sea transit corridor and was designed to alleviate global food shortages by allowing exports to resume from three ports in Ukraine…
Port of Aberdeen Gets UK Gov't Funding to Accelerate Net Zero Drive
The UK Government has granted Port of Aberdeen more than £200,000 in funding to accelerate the port’s drive to Net Zero by 2040.The ‘Port Zero’ feasibility study, which is part of the Clean Maritime Demonstration Competition Round 2 (CMDC2), will analyse future port power demands, assess low carbon energy sources for equipment (e.g., cranes, tugs, pilot boats) and quayside infrastructure, and develop…
Sanctioned Oil Tanker Young Yong Heads to Nipah after Stranding in Indonesia
U.S.-sanctioned oil supertanker Young Yong is being towed to an anchorage area in Nipah, Indonesia, after the stranded tanker was successfully refloated, Commander…
Chevron, Japan's MOL to Study CO2 Transportation from Singapore to Subsea Storage in Australia
Chevron Corporation and Japan's Mitsui O.S.K. Lines (MOL) have signed an agreement to study the feasibility of transporting liquefied carbon dioxide from Singapore to permanent storage locations offshore Australia. Chevron New Energies International Pte. Ltd, the U.S. oil major's subsidiary, and MOL will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum of liquefied carbon dioxide by 2030…
BMS Unveils SOV Design for the US Offshore Wind Market
Covington, La. based marine engineering firm Baker Marine Solutions has unveiled a new service operation vessel (SOV) design for the U.S. offshore wind industry.The new 275-foot (LOA) BMS 1776 is designed be built in the U.S. to ABS class standards and is fully certified to operate in U.S. waters, utilizing U.S. offshore workers, BMS said."With the U.S. offshore wind industry expanding rapidly, U.S. companies must be ready to build SOVs designed specifically for U.S.
Keel Laid for Wallenius Marine’s First 6,500 CEU PCTC
On November 1, the Longkou Shipyard in Shandong, China held a keel laying ceremony for the first of Wallenius Marine's new Sleipner car carrier vessels.In the summer of 2021, Wallenius Marine and Volkswagen signed a contract for two multi-fuel vessels with the ability to carry 6,500 cars each. After delivery, the vessels will be chartered out to Volkswagen Konzernlogistik GmbH & Co. OHG and transport new vehicles of the Volkswagen Group for at least 10 years…
Partners to Produce Bio-LNG as Marine Fuel
Three companies from very different sectors have joined forces to achieve a decentralized production of bio-LNG designated for use as a clean marine fuel. The partners Attero, Nordsol and Titan met at the site for the plant – located at the facility of waste processor Attero in Wilp, the Netherlands – where the final investment decision was made and where building can now begin.The FirstBio2Shipping project is set to deliver the first bio-LNG in early 2024.
Inflation Hits Vessel Operating Costs -Drewry
Vessel operating cost inflation has accelerated in 2022 on mounting worldwide macroeconomic price pressures, despite some receding of Covid-19 related costs, according to the latest Ship Operating Costs Annual Review and Forecast 2022/23 report published by global shipping consultancy Drewry.Drewry estimates that average daily operating costs across the 47 different ship types and sizes covered in the report rose for the fifth consecutive year to reach $7,474 in 2022, a rise of 2.2%.
Baltic Dry Index Posts Best Day in a Month
The Baltic Exchange's dry bulk sea freight index rose for a fourth straight session on Wednesday to mark its biggest one-day percentage gain in a month, supported by stronger demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 37 points, or about 2.7%, to 1,393, the highest level since Oct. 31.The capesize index rose 144 points, or about 9.7%, to 1,637, the highest level since Oct.
Sri Lanka Starts Construction of $700M Port Project
Sri Lanka's largest port began on Wednesday construction of a $700 million terminal project, partly funded by India's Adani Group, an official said, marking the first foray by an Indian company into the sector. India has this year provided the most financial support to its southern neighbour, which is facing its worst economic crisis in more than seven decades. India is now keen to see long-term projects by Indian companies take off in Sri Lanka.
Strong Offshore Quake Rattles Italy
A strong earthquake of magnitude 5.7 struck off Italy's Adriatic coast early on Wednesday, but caused no serious damage or injuries but was felt as far away as Rome and northern parts of the country. The quake, which occurred shortly after 7 a.m. (0600 GMT), was followed by more than 50 aftershocks of weaker intensity, the Italian Geophysics and Volcanology Institute (INGV) said. Its epicentre was 35 kilometers (21.7 miles) offshore from Pesaro…
Analysis: Meltdown in the Container Shipping Sector Gains Speed
Facing global economic headwinds, the volume of containerized cargo movement continues to plummet, Peter Sand, Chief Analyst, Xeneta, summarizes: “It is clear that the carriers are no longer in charge, the shippers are.”Peter, it seems like the news in the container shipping sector started as a flow and has turned into a torrent. There was some data released yesterday that showed a 9.1% drop in September year on year for dry containers, and a 2.3 decline in the reefer sector.
Christiania Shipping inks deal for StormGeo CII Simulator
Denmark's Christiania Shipping, which operates 20 vessels, added StormGeo’s CII Simulator to its fleet performance management toolbox earlier this year. “With the…
US Allows Transactions to Free Sanctioned Oil Tanker Stranded in Indonesia
The U.S. government has allowed some transactions to take place with a sanctioned oil supertanker in efforts to free the vessel stranded in Indonesian waters, the U.S. embassy in Singapore said on Wednesday. The Indonesian navy has been trying to free the Djibouti-registered ship, Young Yong, which ran aground off Indonesia's Riau Islands on Oct. 26 near a gas pipeline. The U.S. last week issued sanctions…
