Tufton Sells Its Final Containership
The Board of Tufton Oceanic Assets Limited announced the company has agreed to sell its last containership, the Riposte, for $13 million. It is being sold at approximately depreciated replacement cost. The divestment will take the company’s fleet to 22 vessels.The realized net IRR on the Riposte exceeds 12%. The aggregate realized net IRR on the company’s containerships over the past five years is…
Partners to Develop Offshore Wind to Ammonia Project in Greenland
Norway-based H2Carrier announced it has signed a letter of intent (LOI) with Greenland-based Anori to develop the first commercial wind farm in Greenland with subsequent production and export of green ammonia.The wind farm is projected to comprise 1.5 gigawatts (GW) of renewable energy which will supply power to H2Carrier’s floating production vessel for hydrogen and green ammonia. Green ammonia will be stored in tanks onboard the vessel…
Chevron to Send 500,000-barrel Cargo of Venezuelan Oil to Its Pascagoula Refinery
U.S. oil producer Chevron Corp plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday.The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies.As of Tuesday…
St. Johns Ship Building Names Ken Gentle VP of Repair
Palatka, Fla. shipbuilder St. Johns Ship Building on Tuesday announced it has appointed Ken Gentle to the position of vice president of repair.Gentle, who brings to the role more than 40 years of experience in marine repair, will lead the shipyard's production and project management teams who are tasked with repairing various types of vessels in both steel and aluminum. “Kenneth comes to us with over…
What’s Next for Eastern Shipbuilding?
When Hurricane Michael slammed the Florida Panhandle in October 2018, the deadly category 5 storm inflicted billions in damages to the region, tearing apart homes and businesses in its path. Among those severely impacted was Eastern Shipbuilding Group, which suffered a nearly direct hit at its Allanton shipyard, located about 15 miles east of the company’s headquarters and main yard in Panama City.Eastern…
Teledyne Acquires ChartWorld International
Teledyne Technologies Incorporated announced today that it has acquired ChartWorld International Limited and affiliates. ChartWorld, headquartered in Cyprus, with additional locations in Hamburg, Singapore, Vancouver and Tokyo, is a provider of digital marine navigation hardware and software provided through a subscription-based model. Terms of the transactions were not disclosed.Commercial maritime…
Gladding-Hearn Refitting Ferry for Government of Bermuda
The Government of Bermuda’s Marine and Port Services has chosen Gladding-Hearn Shipbuilding, Duclos Corporation, to undertake a major refit of the 700-passenger ferry Bermudian. Built in 1988, the 118’ steel vessel completed the 635-mile crossing of the North Atlantic, arriving at the Somerset, Mass. shipyard, this week. With engineering and project management by Gladding-Hearn and Propulsion Data Services…
Steller Systems to Develop Damage Control System for Ships
British naval architecture firm Steller Systems said it has been awarded a contract from the U.K.'s Defence and Security Accelerator to develop an innovative damage control system for ships.Changes to platform design and operation, steady reductions in crew numbers and the accelerating move to uncrewed, autonomous vessels mean that new approaches are required to ensure that damage control measures can continue to be successfully achieved…
Baltic Index Sees Worst Day on Record as Vessel Demand Wanes
The Baltic Exchange's dry bulk sea freight index on Tuesday posted its worst decline on record, pressured by waning rates across vessel segments due to weak demand from China amid surging COVID-19 cases.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels carrying dry bulk commodities, lost 265 points, or 17.5%, to 1,250, its biggest daily percentage drop since 1984.The capesize index dropped 626 points…
Stolt Tankers’ Schroeder Named Director at ITOPF
Stolt Tankers’ Managing Director, Maren Schroeder has joined the board of ITOPF Limited, a not-for-profit organization specializing in preparedness for and response to accidental marine spills.“I am pleased to be able to contribute to this very important area in my new role as director at ITOPF,” said Schroeder, who will fulfil her ITOPF duties alongside her role at Stolt Tankers. “Sharing insights…
WESI, LeeWay Bring Hydrogen Fuel Solutions to Atlantic Canada
Engineering firm Waterford Energy Services Inc. (WESI) and vessel owner/operator LeeWay Marine are collaborating to bring hydrogen fuel supply to Atlantic Canada for marine applications.The two Canadian companies said early front-end engineering and design (E-FEED) has commenced for a Phase 1 Pilot. The collaboration has identified strategic locations for the provision of shore-based hydrogen fuel supplies. In addition, vessels of opportunity have been surveyed for fuel conversion feasibility.
Risking Death at Sea, Rohingya Muslims Seek Safety in Indonesia
Crying with relief after a traumatic 40-day voyage to Indonesia in a leaky boat, Rohingya Muslim Fatimah bin Ismail held a mobile phone with shaky hands as she made a video call to relatives. The 19-year-old was among 174 surviving Rohingya in the overloaded wooden fishing boat when it washed up on the shores of Indonesia's Aceh province this week. Around 200 had been on board, fleeing poverty and persecution, when it set off across the Indian Ocean from Bangladesh on Nov. 21.
First Full LNG Cargo Arrives to Uniper's Wilhelmshaven LNG Terminal
Today, Uniper brought Germany’s first full cargo of liquefied natural gas (LNG) to the new LNG terminal, operated by Uniper, in Wilhelmshaven.The LNG ship Maria Energy, owned by Tsakos Energy Navigation was loaded in Calcasieu Pass, USA, at the liquefaction facility of the LNG supplier Venture Global Calcasieu Pass, LLC, on December 19, 2022.The Uniper LNG terminal in Wilhelmshaven was opened on December 17, 2022.
Volstad Orders NES Battery Pack for Subsea Construction Vessel
Norway's Volstad Maritime has contracted HAV Group subsidiary Norwegian Electric Systems (NES) to deliver the battery package and associated control system for battery charging to one of its subsea construction vessels.Bergen-based NES will provide the equipment to the Deep Cygnus in connection with a forthcoming vessel upgrade to battery power notation before the vessel enters a new charter contract in early 2024.During the past six months…
Ship Recycling: Happy New Cheer
As we close out another year, sub-continent markets remain suspended at their weakest point for some time now. Pricing remains firm (given the historical price average has been around $350/LDT or so), but sentiments and conditions on the ground across all locations remain somewhat precarious.While Bangladesh has been the main proponent of such concern – given the ongoing financial crisis that has resulted…
GTT Ceases Its Activities in Russia
French engineering group Gaztransport & Technigaz (GTT) said on Monday it was stopping its activities in Russia after analyzing the latest European sanction packages which include a ban on engineering services with Russian firms.The group said its contract with Russian shipbuilding company Zvezda for 15 ice-breaking liquefied natural gas (LNG) carriers would be suspended as of Jan.
Maersk Completes Acquisition of Logistics Firm Martin Bencher
Danish shipping giant A.P. Moller - Maersk (Maersk) announced it has completed its $61 million acquisition of Danish project logistics company Martin Bencher Group.“With the addition of Martin Bencher, we are strengthening our ability to offer project logistics services to our global clients while providing a more comprehensive offering to a wide array of industries. As such, Martin Bencher really is an excellent fit to Maersk and our integrator strategy…
US Lease Sale off Alaska Coast Draws One Bid
The U.S. government on Friday received just a single bid, from Hilcorp Alaska, for oil and gas drilling rights off the coast of Alaska the first federal auction in the region in more than five years.The offer of nearly 1 million acres in the Cook Inlet was among the concessions to the oil and gas sector included in President Joe Biden's signature climate change law, the Inflation Reduction Act (IRA).Under the law, the Interior Department is required to hold the sale by Dec. 31.
Iran Holds Naval Drills in the Gulf
Iran held joint naval, air, and ground exercises in the Gulf on Friday near the strategic Strait of Hormuz waterway, state media reported.The drills involve submarines and drones "practising information-gathering operations against attacking forces, as well as reconnaissance operations,” Admiral Habibollah Sayyari told the official IRNA news agency.The exercises, code named Zolfaghar-1401, were launched overnight Friday in the eastern side of the strait in the Gulf of Oman.Tehran…
