US Great Lakes Fleet Set for $126 Million in Winter Work
The U.S. Great Lakes shipping fleet has begun the annual transition from sailing to scheduled periods in regional docks and ship repair facilities for repair, maintenance and modernization.This year alone, U.S. Great Lakes shipping companies will invest more than $126 million in their vessels—from over 1,000-feet to smaller tug and barge combinations—at shipyards and facilities across the Great Lakes, according to trade group the Lake Carriers’ Association.
Russian Oil Heads East as EU Embargo Takes Hold
The European Union's full embargo of Russian oil products came into effect on Feb. 5, but data from traders and Refinitiv show that the bulk of Russia's fuel oil and vacuum gasoil (VGO) is already being shipped to other regions, mostly in Asia.In January, less than 5% of Russian fuel oil and VGO was shipped to EU countries, including some 100,000 tonnes to Agioi Theodoroi in Greece, about 80,000 tonnes to the Latvian port of Ventspils and 30…
Tugboat Crew Member Missing Near Sabine, Texas
Emergency response crews are searching for a tugboat crew member that has gone missing near Sabine, Texas, Monday.U.S. Coast Guard Sector Houston-Galveston command…
Tanker Assists Sailor in Distress in the Caribbean Sea
A Marshall Islands registered chemical tanker came to the aid of a sailor in distress Saturday morning in the Caribbean Sea, approximately 57 nautical miles southeast of Puerto Rico.U.S. Coast Guard watchstanders in Sector San Juan received a VHF-Channel 16 communication from the sailing vessel Tao at 1:45 a.m. Saturday reporting the vessel lost steering and the sole boater on board, an 80-year-old man…
US Blocks Vessels from Area Near Balloon Shoot Down
The U.S. Coast Guard said Monday it is imposing a temporary security zone in the waters off Surfside Beach, South Carolina in the area where the U.S. military on Saturday shot down a suspected Chinese spy balloon.The 10 nautical mile area security zone blocks vessels from entering without permission of the Coast Guard and is intended to protect the public "from potential hazards associated with physical objects."The zone is to be enforced through Feb.
Lone Star Buys Shipyards Group Titan from Carlyle, Stellex Capital
Lone Star Funds has reached a del to buy U.S. shipbuilding and repair group Titan Acquisition Holdings from peer investment firms Carlyle and Stellex Capital Management. Financial terms were not disclosed.Titan is comprised of Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Ore.; MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Va.; and Continental Maritime of San Diego (CMSD).
Ports & Logistics: Building A New Energy Industry
2022 closed with significant developments to advance offshore wind (OSW) and the necessary, related work required at U.S. ports – on the east and west coasts and the Great Lakes. Some of these developments included:Funding – MARAD’s Port Improvement Development Project (PIDP) grants provided over $100 million for wind at four ports.Corporate leadership – Marine giants Foss and Crowley stepped up to…
ABB Unveils New Water-cooled Motor Line
ABB has unveiled its Baldor-Reliance HydroCool XT motor product line, a new generation of water-cooled motors for extreme marine duty and other applications.According to the manufacturer, HydroCool XT is quiet and versatile, and offers reduced maintenance and high performance in some of the toughest environments. Water-jacket cooling offers higher thermal conductivity than air cooling, helping to extend the motor life while eliminating the need for fans or air filters.
Cargotec Appoints Lindholm as President and CEO
Finnish cargo handling machinery manufacturer Cargotec on Monday announced its board of directors has appointed Casimir Lindholm to succeed Mika Vehviläinen as the company's president and CEO, effective April 1, 2023.A member of Cargotec's board since 2021, Lindholm has held CEO positions both in Eltel and Lemminkäinen and many board memberships.“I’m honored and excited to be leading Cargotec at such a pivotal moment in the company’s history…
Italian Union Files Legal Complaint Against Snam's LNG Terminal
The Italian trade union USB filed a legal complaint against a plan by gas grid operator Snam to set up a new liquefied natural gas (LNG) terminal in the Tuscan port of Piombino, it said in a press release on Friday.USB alleged Snam had committed serious "environmental crimes" while performing works to build the terminal.USB criticised in the statement the choice to set up the terminal in an area already polluted by an old steel plant…
Baltic Dry Index Hits Nearly Three-year Low
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell to the lowest in nearly three years, pressured by weaker rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 13 points, or about 2.1%, to 608, its lowest since early-June 2020.The capesize index lost 10 points, or about 2.3%, to over a five-month low of 419.Average daily earnings for c
Brazil Scuttles Decommissioned Aircraft Carrier Despite Environmental Concerns
Brazil sank a decommissioned aircraft carrier in the Atlantic Ocean off its northeast coast, the Brazilian Navy said, despite warnings from environmentalists that the rusting 1960s French-built ship would pollute the sea and the marine food chain.The 32,000-tonne carrier had been floating offshore for three months since Turkey refused it entry to be scrapped there because it was an environmental hazard…
EVENT: Reuters U.S. Offshore Wind Returns to Boston
Reuters Events has officially launched their flagship offshore wind event, US Offshore Wind 2023 (USOW23) being held in the Hynes Convention Center, Boston, July 11-12, 2023.The event will unite more than 1000 offshore wind developers, utilities, OEMs, financiers, and supply chain executives, hosting industry-breaking discussions covering all corners of project development, from permitting through to construction.Click here to see the Speaker and Agenda line-upU.S.
Ship Recycling Market Continues to Improve
Another solid showing from sub-continent markets has given encouragement to ship owners and cash buyers, to start testing potential prices with firm candidates. Indeed, several deals have been concluded off the back of these improved numbers, including one more Capesize bulker at firm levels basis an ‘as is’ Singapore delivery.Now that the Chinese New Year holidays have concluded, the expected bounce in freight markets has yet to materialize…
Marlink Adding Starlink LEO to Eastern Pacific Shipping’s Smart Hybrid Network
Marlink is adding Starlink LEO connectivity to Eastern Pacific Shipping’s (EPS) existing smart hybrid network, with the Singapore-based ship manager looks to enhance business operations and seafarer wellbeing services across its fleet.The Starlink service will initially be trialed onboard selected vessels, integrated into the smart blend of networks managed by Marlink, which already serves the majority…
Safety Improved on World's First Liquid Hydrogen Carrier after Malfunction
A valve failure that caused a flame to flare up briefly on the world's first liquid hydrogen carrier before its first trip from Australia to Japan highlighted the need for strong fault detection systems, an Australian safety report found.The cause of the incident on the Suiso Frontier on Jan. 25 last year has been fixed, the Australian Transportation Safety Board said in a report released last week. The ship had loaded liquid hydrogen for the trip the day before.
BOA OCV to Sell Subsea Construction Vessel BOA Sub C
The Norwegian company BOA OCV said Monday it had agreed to sell the subsea construction vessel BOA Sub C. The company did not say who the buyer was or what the vessel's sale price was."After completion of closing, BOA OCV expects, over one or several sweeps over the next three months, to distribute approximately 100-120 percent of the current outstanding amount under the Bonds. Closing is expected to occur during the first half of February," BOA OCV said.BOA Sub C is a 2007-built vessel.
Windea Leibniz SOV Becomes CSOV after Upgrades by Ulstein
The Service Operation Vessel (SOV) “Windea Leibniz” on Saturday completed an extensive upgrade at Ulstein Shipyard in Norway. The vessel is managed by Bernhard Schulte Shipmanagement (BSM)."With an increase of cabins from 60 to over 80, the vessel has transitioned from an SOV to a Commissioning Service Operation Vessel (CSOV)," Additionally, the ship received one extra pedestal on the stern for Baltic Sea operations to complement the existing pedestal for North Sea use.
