Baltic Index Posts Fourth Weekly Fall
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight week as rates for capesize vessels slumped.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 38 points, or about 4.7%, at 763 — its lowest in over two-and-a-half years.The index lost about 19.3% during the week.The capesize index lost 106 points, or about 11.9%, at 787.
Euronav VLCCs Named at Hyundai Samho
South Korean shipbuilder Hyundai Samho Heavy Industries on January 10 hosted a naming ceremony for a pair of new very large crude carriers (VLCC) it is constructing for Belgian shipowner Euronav.The Cassius and Camus are being built as liquefied natural gas (LNG) ready with the ability to cut CO2 emissions compared to current market standards. Each is also fitted with exhaust gas scrubber technology and a ballast water treatment system.The 299…
Konecranes Inks Licensing Deal with Larsen & Toubro
Konecranes and Larsen & Toubro (L&T) have signed a licensing agreement for the manufacturing and distribution of Konecranes port cranes in India. The first products have been sold under this agreement: two shipyard jib cranes will be delivered to the Cochin Shipyard in Cochin, Kerala province.The agreement between Konecranes and L&T’s Minerals & Metals business unit covers manually operated Ship-to-Shore cranes…
First Cruise Ships Tap Shore Power at Port of San Diego
On January 13, two cruise ships plugged into the newly completed shore power expansion at the Port of San Diego cruise ship terminal for the first time – a doubling of the previous capacity.The Disney Wonder and the Insignia were able to simultaneously use shore power rather than running their diesel engines while at berth. Previously, only one cruise vessel could plug in.The recent addition of the…
SMST to Deliver Equipment for First Asia-designed CSOV
Marco Polo Marine, the Singapore-based marine logistics company, has awarded SMST the contract for the delivery of a gangway and a crane for its offshore wind Commissioning Service Operations Vessel (CSOV). The vessel will be used in commissioning works during the construction of offshore wind farms, as well as maintenance operations. SMST’s mission equipment consisting of an Access & Cargo Tower with a motion-compensated gangway…
Insolvency at European Storage Terminal Supports Tank Storage Rates
The insolvency of a major storage terminal planned in northwest Europe has supported regional tank storage rates for diesel and gasoline, just as European traders rush to fill up diesel tanks ahead of a Feb. 5 ban on Russian fuel.Earlier this month, the district court in Rotterdam declared the insolvency of the long-delayed HES Hartel Tank Terminal, to be developed in Europe's major trading port of…
US Fines Greek Ship Owner for Environmental Crimes
The U.S. has imposed a $2 million fine on the owner and operator of a bulk carrier that knowingly committed pollution crimes on the Mississippi River. Greek-based Empire Bulkers and related company Joanna Maritime were sentenced Thursday for committing "knowing and willful violations" of the Act to Prevent Pollution from Ships (APPS) and the Ports and Waterways Safety Act related to their role as the…
Shipping Still in Dark Over Clean Fuel Solutions, Industry Official Says
Shipping companies are still waiting for "real green" fuel solutions as part of decarbonization efforts to clean up the industry, a leading industry official said.Shipping, which transports around 90% of world trade and accounts for nearly 3% of the world's CO2 emissions, is under growing pressure from environmentalists to deliver more concrete action, including a carbon levy."We are still awaiting engine and shipbuilders to come up with real green solutions…
Third Floating LNG Terminal Arrives in Germany
A floating terminal to import liquefied natural gas (LNG) arrived in the port of Brunsbuettel on Friday, the third such vessel to start up in recent weeks as Germany…
