Reefers Riding Out Spot Rate Storm Better Than Dry Containers -Xeneta
Reefer spot rates are proving more resilient than dry container prices on exports from North Europe, with slow declines as opposed to dramatic drops. According to the latest market analysis from Oslo-based Xeneta, all main trades from the region have experienced falls over the past three months. However, unlike the dry market, the routes are still commanding higher rates than this point last year,…
Venezuela Gives US Two Months to Request 'Fat Leonard' Extradition
Venezuela's top court has ruled to give the U.S. government 60 days to request the extradition of fugitive Malaysian businessman Leonard Glenn Francis, also known by his alias "Fat Leonard," who is implicated in a U.S. Navy bribery case.The supreme court ruling was issued last week but only made public on Wednesday by a reporter with official media.Francis was arrested on Sept. 21 at Caracas' main airport as he prepared to leave for Russia. The U.S.
Third Multi-fuel Car Carrier Delivered to UECC
Norwegian shipping line UECC announced it has taken delivery of its third and final newbuild multi-fuel liquefied natural gas (LNG) battery hybrid pure car and truck carrier (PCTC) as the company works toward meeting new requirements for low-emission ship operations with the green transformation of its fleet.The latest newbuild, to be named Auto Aspire, was delivered on October 20 at China’s Jiangnan…
VIDEO: Hull of Van Oord's New Cable Layer Launched in Romania
VARD shipyard in Romania launched the hull of the new Van Oord cable layer Calypso earlier this week.Vard Tulcea in Romania is making final preparations before the hull will be towed to Vard Brattvaag. At Vard Brattvaag, the shipbuilder will continue outfitting the vessel, topside equipment installation, commissioning and trials in collaboration with Van Oord and sub-contractors before handing it over to the owner…
On Board Orders Boutique Cruise Vessel
Australian naval architecture firm Incat Crowther said it has been commissioned to design and deliver a new boutique liveaboard cruise vessel for Tasmanian luxury wilderness expedition cruise operator On Board. The 24-meter vessel, named Odalisque III, is currently being built by Richardson Devine Marine in Hobart and is scheduled for delivery in early 2023.Designed to provide guests with a luxurious wilderness escape in the pristine south-west Tasmanian wilderness…
Israel Shipyards Debuts SAAR Class Corvette
Israel Shipyards (ISL) unveiled a new corvette- SAAR S-80. The S80 vessel is based on ISL's S-72 platform, from which several designs have been evolved, including the Israeli Navy Light Patrol Corvette– the RESHEF Class an advanced multi-roll vessel.The new generation of the S-80 class features greater versatility and higher payload capacity, with increased weapon suite capacity and wider spread of…
TotalEnergies Charters LNG Carrier from Japan's Mitsui O.S.K. Lines
Japan's Mitsui O.S.K. Lines (MOL) said Thursday it had signed a multi-year contract to charter a newbuild LNG Carrier with TotalEnergies Gas & Power Limited, a subsidiary of the French oil major TotalEnergies.According to MOL, the vessel currently being built by Daewoo Shipbuilding & Marine Engineering is fitted with the most modern ME-GA engine, which provides lower emissions compared to previous…
DNV, JIP Partners Enter Phase 2 To Develop Best Practices For Safe Offshore Wind Installation
DNV and its partners on Thursday confirmed the completion of Phase 1 of a joint industry project (JIP) on Bottom Impact and Partially Submerged Conditions, which has resulted in a new framework for optimizing the installation process of offshore wind turbines. "New partners are encouraged to join Phase 2, which will focus on validating models and establishing common best-practice guidelines to the benefit of the entire industry…
Freeport LNG Plant to Require Full US Approval Before Partial Restart
The second-largest U.S. liquefied natural gas export plant, idled for five months by a fire, must receive full approvals before a planned November restart can begin, regulator Pipeline Hazardous Materials and Safety Administration (PHMSA) said on Wednesday.Full approval adds to the hurdles for restarting Freeport LNG, one of the earliest and biggest U.S. export facilities. The closely-held company…
US Corn, Soy Exports Lag Normal Autumn Pace Amid River Shipping Woes
U.S. soybean exports are trailing their normal autumn pace despite rising supplies from an accelerating harvest, as low river levels have slowed the flow of grain barges to export terminals, according to U.S. Department of Agriculture (USDA) data issued on Monday.Corn exports are also lagging their typical harvest-time rate, weekly USDA export inspections data showed.Low water on the Mississippi River…
Chile Uses High-tech Buoys to Protect Migrating Whales
A smart buoy that can "hear" the ocean and monitor climate change is part of a new effort to help endangered whales avoid ship collisions on their journey from Antarctica to the equator.The buoy was installed in the Gulf of Corcovado, some 1,100 kilometers (684 miles) south of Chile's capital, in early October and is the first of many planned by the Blue Boat Initiative, a project designed to protect…
Kongsberg Wins Deal to Equip Sweden's New All-electric Ferries
Kongsberg Maritime on Wednesday announced it has signed a contract with Holland Shipyards Group to provide electrification and control systems with automated functionalities for up to four new all-electric ferries for the Swedish Transport Administration, with two firm for delivery and an option for two more.Kongsberg Maritime said it has been tapped to provide the ferries’ electrical systems, as well as a control system suite…
Mercury Marine Opens New Global Distribution Center in Indiana
Mercury Marine opened its new, purpose-built distribution center to support its parts and accessories business. The new 512,000 square foot facility is located near Indianapolis, Ind., a major thoroughfare connecting Mercury’s global customers that will improve delivery and service and will add much needed capacity for scale, stability, and reduced logistics costs, the company said.Mercury’s current distribution facility at its global headquarters in Fond du Lac…
DFDS Wins Tender to Continue Newhaven-Dieppe Service
DFDS has won the tender to operate ferries between Newhaven, U.K. and Dieppe, France, clearing the Danish operator to continue its service on the route for the next five years.“We are delighted to be awarded the contract to continue operating the important ferry link between Newhaven and Dieppe. This secures hundreds of local DFDS jobs and enables us to continue our ambitious plans to invest in the route…
Light Structures Reports First Call European Defense Fund Success
Maritime structural health monitoring specialist Light Structures is a member of two winning consortia in the first call of the European Defense Fund (EDF). Both consortia consist of the leading naval yards in Europe, organized through The Shipyards’ & Maritime Equipment Association of Europe (Sea Europe), national delegates, and the Norwegian partners SINTEF, Kongsberg, Jotne and Light Structures.The…
ABL Appoints New Country Manager in Greece
Energy and marine consultancy ABL Group has appointed Maria Dragoumerli to head up the company’s operations in Greece, with specific focus on the country’s maritime industry.Based in Piraeus, Dragoumerli will be in charge of driving the development of ABL’s service offering in the Greek market, in particular provision of support to the country’s extensive shipping and maritime industries.Dragoumerli joins ABL from Helikon Shipping Enterprises Ltd in London…
Shareholders Approve SAAM's $1 Billion Terminals Sale to Hapag-Lloyd
SAAM shareholders at an extraordinary shareholder’s meeting on Tuesday approved a deal valued at about $1 billion to sell 100% of the shares of its subsidiaries SAAM Ports and SAAM Logistics, as well as the real estate assets belonging to the logistics business, to the German liner shipping company Hapag-Lloyd.The agreement, first announced earlier this month, consists of selling SAAM’s stakes in the 10 port terminals it operates in six countries in the Americas (five are in Chile)…
Höegh Autoliners Exercises Option to Buy 2099-built RoRo
Höegh Autoliners announced it has exercised its option to purchase Höegh St. Petersburg for $29,300,000, well below the $70 million average market value estimated by three different brokers for the end of Q3.“Höegh Autoliners is again demonstrating its commitment to serve and build a long-term relationship with our customers based on a fleet we own and control. All our deep-sea operated vessels are owned (29 vessels) or on charters with purchase options (five vessels).
Crude Tanker Rates Expected to Stay Strong Despite Russia Turmoil
Prospects for the crude oil tanker market are expected to stay strong for at least the next year helped by low ship ordering, despite the loss of some trade from Russia due to Western sanctions, leading ship operators say.Russia has increased exports to Asia, Africa and South America following the imposition of Western sanctions for its invasion of Ukraine.
Peacock Set to Take Over as CEO of The Shipowners’ Club
The Shipowners’ Club, a P&I insurer in the smaller and specialist vessel sector, announced Simon Peacock will take over as CEO in 2023.Current CEO Simon Swallow will be stepping down on May 25, 2023 before starting his retirement on August 3, 2023. The current Chief Financial Officer (CFO), Simon Peacock, will be the incoming CEO on May 25, 2023. Marcus Tarrant, currently Director and Chief Actuary of the Club’s management company…
