Ocean Yield Buys 5,500 TEU Newbuild
Ocean Yield, which describes itself as a ship-owning company with investments in vessels on long-term charters, has agreed to buy a 5,500 TEU container vessel newbuilding under construction at HJ Shipbuilding, Korea. The vessel design enables it to be converted to dual fuel operation with methanol as fuel. Delivery of the vessel is expected in May 2023. Upon delivery, the vessel will start a seven-year time charter contract to ZIM Integrated Shipping Services Ltd.…
San Francisco's WETA Awarded $14.9 Million to Develop Electric Ferry Network
The San Francisco Bay Area Water Emergency Transportation Authority (WETA) has been awarded a $14.9 million grant from the California State Transportation Agency (CalSTA) to develop a high-frequency network of battery-electric ferries.The grant will fund the construction of ferries and shoreside charging infrastructure to support the San Francisco Clean Ferry Network, which will use zero-emission ferries to connect waterfront San Francisco neighborhoods including Downtown…
Libya Oil Chief says Full Output to Resume after Deal
Libyan oil output will resume from all shuttered fields and ports, the Tripoli government's newly installed head of National Oil Corporation (NOC) said on Friday after meeting groups that have blockaded the facilities for months.The decision to lift force majeure on production could mean a return of 850,000 barrels per day (BPD) of oil to the market that has been shut off by the groups aligned with…
Macquarie Invests in Brazil Port Operator CLI to Fund $260M Deal
Australia's Macquarie group is investing in Brazilian ports by taking a stake in port operator CLI and funding a deal to buy sugar and grain terminals in Latin America's largest port, Santos, for $260 million, the companies said on Friday.Railway operator Rumo said in a securities filing late it has sold 80% of its subsidiary EPSA, which manages terminals 16 and 19 in Santos, to CLI for 1.4 billion reais ($260 million).
Aquavita Charters Diana Shipping's M/V Boston Bulk Carrier
Diana Shipping has entered into a time charter contract with Aquavita International for one of its Capesize dry bulk vessels, the m/v Boston. The gross charter rate is US$20…
Baltic Index Rises on Gains on Higher Rates for Capesize Vessels
The Baltic Exchange's main sea freight index rose on Monday as higher rates for larger capesizes overshadowed a fall in the panamax and supramax segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 12 points, or 0.56%, at 2,162 points.The capesize index .BACI rose 48 points, or 1.64%, to 2,967 points.Average daily earnings for capesizes, which typically transport 150…
S.Korea Gov't Calls on Strikers to End 'illegal' Siege of Daewoo Shipyard
The South Korean government on Monday called on striking workers at Daewoo Shipbuilding & Marine Engineering (DSME) to end their month-long siege of a dock at the company's biggest shipyard, which has paralyzed production and is delaying delivery of new vessels.Finance Minister Choo Kyung-ho called the occupation "outright illegal" and pledged a "stern response based on law and order."The shipyard near the city of Geoje, off the country's south coast, is one of the world's largest.
Guyana Races Against the Clock to Bank Its Offshore Oil Bonanza
For the poor, small South American country of Guyana, there's no time like the present when it comes to reaping the rewards of its offshore oil jackpot.With sky-high oil prices, a transition to renewable energy on the horizon, and 750,000 citizens desperate for better lives, Guyana is putting its foot on the gas to exploit its vast oil reserves, even if that means sacrificing some longer-term gains.Already locked into contracts with oil firms that have been criticized for being too one-sided…
Keel Laying Ceremony Held for USCG's Offshore Patrol Cutter 'USCGC Ingham'
Eastern Shipbuilding Group hosted the keel laying ceremony for the U.S. Coast Guard’s future Offshore Patrol Cutter (OPC), USCGC Ingham (WMSM-917), the third vessel in the new Heritage Class built at the Nelson Street facility. The presiding official for the U.S. Coast Guard was Rear Admiral Chad L. Jacoby, Director of Acquisition Programs & Program Executive Officer (CG-93). Congressman Neal Dunn…
Adani Ports to Boost Trade Lanes with Joint Haifa Port Acquisition
Adani Ports and Special Economic Zone said its acquisition of Haifa Port with a local Israeli partner will boost trade lanes with the company's Indian ports and could better connect Europe and the Middle East in the longer term.After a two-year tender process, Adani Ports and local chemicals and logistics group Gadot clinched the 4.1 billion shekel ($1.18 billion) winning bid for Haifa Port, Israel announced on Thursday.Adani Ports will have a 70% stake and Gadot will hold the remaining 30%…
Technip Energies, X1 Wind, Partners to Deliver Important Floating Wind Project
The European Commission has chosen Technip Energies, X1 Wind, and a consortium of ten international entities, to deliver the NextFloat project, a program aimed at accelerating industrial-scale floating wind.NextFloat project's main objectives are to demonstrate a competitive, sustainable, and integrated floating offshore wind solution optimized for deep waters and to accelerate the industrial-scale deployment of floating offshore wind.
Edda Wind’s New Offshore Wind Vessel Launched in Spain
Edda Wind’s new Service Operation Vessel Edda Goelo (C416) was launched at Astilleros Balenciaga shipyard in Spain on Friday.Edda Goelo will serve as a mother vessel for wind turbine technicians as they perform maintenance work on offshore wind turbines. When completed, the new SOV will start operations for wind turbine maker Siemens Gamesa at Iberdrola’s offshore wind farm in the Saint-Brieuc Bay off France in the third quarter of 2023.
Russian Fuel Oil Cargo Arrives in Cuba as the Island Ramps Up Imports
A tanker carrying Russian fuel oil arrived in Cuba on Thursday, bringing supplies for the Caribbean nation's sputtering power plants and giving Russia an outlet…
Baltic Sea Freight Index Posts Weekly Gain as Capesize Rates Jump
The Baltic Exchange's main sea freight index , tracking rates for ships ferrying dry bulk commodities, logged its first weekly gain since mid-June, as a jump in capesize rates outweighed declines in other vessel segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 140 points, or nearly 7%, at 2,150 points, its highest since July 4. It rose 4% for the week.The capesize index rose 462 points…
U.S. Coast Guard Medevacs Offshore Vessel Crewmember with Heart Attack Symptoms
A 52-year-old man was medevaced Thursday from an offshore supply vessel about 36 miles southeast of Grande Isle, Louisiana.Watchstanders at Coast Guard Sector New Orleans received a call stating a crewmember aboard the offshore supply vessel Warren Thomas was reportedly experiencing heart attack and stroke-like symptoms. The watchstanders directed the launch of a Coast Guard Air Station New Orleans MH-65 Dolphin helicopter crew to assist.The helicopter crew arrived on the scene…
New Crewing Mandate Could Be a 'Gut Punch' to U.S. Offshore Wind Projects
The U.S. House has this week passed the National Defense Authorization Act (NDAA), in which it attached a provision that would change rules for manning offshore vessels in U.S. waters, with the goal of fostering American jobs in the U.S. offshore wind sector, however, the move could be counterproductive.According to American Clean Power (ACP), which has slammed the move, the U.S. Coast Guard Authorization Act contains a provision that requires…
Tech File: P&O Adopts Hull Stress Monitoring for new Hybrid 'Super Ferries'
Light Structures tapped to deliver custom fiber optic solution for stress and fatigue measurement with real-time decision supportLight Structures AS won the contract to provide a Hull Stress Monitoring System for two new hybrid-power, double-ended RoPAX vessels under construction at Guangzhou Shipyard International (GSI) in China for P&O Ferries. Delivery, installation, and commissioning is expected to be completed within 2022.Measuring 230m long with 3…
IMLI Director Attard Wins International Maritime Prize
The outgoing Director of the IMO International Maritime Law Institute (IMLI), Professor David Joseph Attard, has been selected by the IMO Council to be the recipient of the International Maritime Prize for 2021. Professor Attard was nominated for the award by the Republic of Malta. In the nomination, the impact that Professor Attard has had on the maritime world, particularly via his three-decade-long role at IMLI was highlighted.
Indonesia Jails Captain of Tanker Arrested for Illegal anchorage
The captain of a fuel tanker arrested by the Indonesian navy in May on suspicion of illegally anchoring in its waters has been jailed for 15 days and fined 200 million rupiah ($13…
Container Shipping: "Fluctuating fortunes for Ocean and Air Freight out of Far East
While spot rates head in the right direction for ocean freight from the Far East to the South America East coast, short-term air freight rates are failing to take off on major intra-Asian and long haul trades, according to Xeneta.“Certainly, as far as ocean freight rates are concerned, the long-term market tends to play catch-up with the spot market, with around a three-month delay,” said Peter Sand, Chief Analyst, Xeneta.
