Panama Updates its General Merchant Marine Law
The Panama Maritime Authority (AMP) and Panama’s main maritime associations concluded the meetings for the revision of the General Merchant Marine Law, law 57 of August 6, 2008.A total of 188 articles were reviewed; 70 were modified; 10 were eliminated and more than 12 new articles were proposed, and all of them were approved in consensus. These amendments aim at improving the competitiveness of the…
Largest Vessel in Solstad Fleet, Normand Maximus, Set for Long-Term Hire with Unnamed Subsea Contractor
Norwegian offshore vessel operator Solstad Offshore said Friday it had has received a Letter of Intent from an undisclosed subsea contractor for hire of the construction support vessel (CSV) Normand Maximus.The subsea contractor would hire the CSV for a period of a minimum of 490 days with the start-up in the first quarter of 2024.The commercial terms are confidential between the parties but are in line with present market terms for this vessel category…
US Permit Crackdown Poses New Hurdles for Proposed LNG Projects
The U.S. Department of Energy's refusal to grant export permit extensions to liquefied natural gas (LNG) developers that fail to meet a construction deadline poses a new hurdle for greenfield plants, analysts said on Thursday.The DOE last month said it would grant future extensions solely on extenuating circumstances and rejected an extension for Energy Transfer's proposed Lake Charles LNG project.The change will fall heavily on firms without a track record and available financing…
MSC’s World Europa Equipped with GE Propulsion
GE Power Conversion was chosen by shipbuilder Chantiers de l’Atlantique to supply electric propulsion for the first two of the World Class vessels, MSC Cruises’ latest class of ships. The first ship, MSC World Europa, is now in operation at sea, and the second vessel is currently in build.The LNG dual-fuel vessels are propelled by the most powerful cruise ship electrical motors in operation - two 25 MW…
US Envoy Says Russian Ship Picked Up Arms in South Africa
The United States envoy to South Africa said on Thursday he was confident that a Russian ship had picked up weapons in South Africa last year, in a possible breach…
Bollinger Delivers USCGC John Patterson to the US Coast Guard
Bollinger Shipyards has delivered the USCGC John Patterson to the U.S. Coast Guard in Key West, Fla. This is the 179th vessel Bollinger has delivered to the U.S. Coast Guard over a 35-year period and the 53rd Fast Response Cutter (FRC) delivered under the current program.The USCGC John Patterson will be the fourth of six FRCs to be homeported in Sector Boston.Each FRC is named for an enlisted Coast Guard hero who distinguished themselves in the line of duty. The cutter’s namesake, John C.
Höegh Autoliners Announces Green Ammonia Supply Deal
Höegh Autoliners announced it is partnering with Norwegian green energy provider North Ammonia for the supply, distribution, delivery and consumption of green ammonia, a carbon free fuel produced using renewable energy.Under the deal, North Ammonia—established by Grieg Maritime Group and Arendals Fossekompani in 2021—will supply Höegh Autoliners with green ammonia from its planned production facility…
Recent News a ‘Mixed Bag’ for US Offshore Wind
The month of May brings a mixed bag of news for offshore wind in the United States, as outlined in the latest U.S. Offshore Wind Report from business intelligence firm Intelatus Global Partners.In the "positive" category, Intelatus said federal permitting of projects continues on schedule, and states continue to plan to procure and accommodate ever larger amounts of wind produced offshore into their onshore grids.
ADNOC L&S, SeaOwl Designing Unmanned Supply Vessels for Offshore Operations
ADNOC L&S, the shipping and maritime logistics arm of the Abu Dhabi-based oil firm ADNOC, has signed an agreement with SeaOwl for the design of unmanned remotely operated vessels capable of transporting vehicles, equipment, and supplies to and from offshore sites.ADNOC L&S said these vessels would reduce carbon emissions by up to 30% as the vessel will be lighter and smaller, as facilities for a crew are not required.
Tanker Firm Euronav Beats Q1 Profit Estimates, Proposes Higher Dividend
Belgian oil tanker and storage operator Euronav reported better-than-expected first-quarter revenue and core earnings on Thursday, supported by an improvement in freight rates, and proposed raising its dividend. "The counter seasonal strength recorded in Q1 underpins our view that strong and durable drivers are in place to continue a multi-year upcycle in large crude tanker freight markets," CEO Hugo De Stoop said in an earnings statement.
Fincantieri Must Reach 3% Profit Margin 'to make economic sense' - CEO
Loss-making Italian shipbuilder Fincantieri must reach a 3% net profit margin "to make economic and industrial sense," its chief executive said on Wednesday, without setting a date for the goal. "That's where we want to be when our work is done," Pierroberto Folgiero told reporters following a meeting with investors in Milan after taking on the role a year ago. "To 'future-proof' Fincantieri ... we need a green and digitalized business model ... and a 3% margin for the bottom line," he added.
African Leaders Positive About Participation in Decarbonization
Africa's abundance of solar, wind and thermal energy across the continent can place Africa at the core of the global decarbonization of maritime transport, the IMO conference on Low-Carbon Shipping in Africa heard on May 5.Speaking at the Conference, held in In Mombasa, Kenya, and co-organized with the Kenya Maritime Authority, The Hon. Kwaku Ofori Asiamah, Minister of Transport, Ghana, said Africa is the key to speeding up global climate action on the Decarbonization Agenda.
Crane Company Tests Liquid Hydrogen Valve
Crane Company has successfully tested a new cryogenic valve designed and built for liquid hydrogen applications.This is the first valve launched from Crane’s CRYOFLO™ line of bellow seal vacuum jacketed globe valves, designed and tested by Crane, with final validation, review, and testing conducted by Chart Industries.Liquid hydrogen is over 100 degrees Fahrenheit colder than liquid nitrogen, and significantly colder than the temperature limit of most cryogenic valves.
Toyota Tsusho Establishes Biofuel Supply in Japan
Toyota Tsusho and subsidiary Toyotsu Energy have launched Japan's first continuous, commercial supply of biodiesel blended fuel at the Port of Nagoya.Toyotsu Energy is supplying Toyofuji Shipping's car carrier Toyofuji Maru after earlier conducting ship-to-ship bunkering trials.Toyota Tsusho, in cooperation with Daiseki Eco. Solution, is procuring waste cooking oil collected from the employee cafeterias and other facilities of Toyota Group and Toyota Tsusho Group companies…
Caudwell Marine Unveils 300hp Diesel Outboard
U.K. based Caudwell Marine has announced that its new diesel 300hp outboard will be delivered in early 2024.The Caudwell Marine diesel outboard is primarily aimed at the commercial and military markets which require their high-performance outboards to work, day-in and day-out, in all conditions. However, the team also expect to see opportunities in the recreational market, where fuel economy, performance and reliability are also a requirement.The outboard features a marine proven…
Welin Lambie to Supply Davits for US Navy's Ford Class Carriers
Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has been awarded a purchase order by Newport News Shipbuilding to supply four davits through Welin Lambie for the Ford Class aircraft carriers CVN 80 and CVN 81 (two davits per vessel). The award follows the supply of davits for CVN 78, which just entered service, and CVN 79, which is currently under construction.
Germany Approves Cosco Stake in Hamburg Port Terminal
Port logistics firm HHLA said on Wednesday the German government has cleared the purchase by China’s Cosco of a 24.9% stake in a container terminal in the sea port of Hamburg, amid a political row over Chinese investment in the German economy.A spokesperson for the German government said in a statement that Berlin had informed HHLA and Cosco that their reworked deal was compliant with a cabinet decision in the fall of last year that limits the ownership of Chinese state firm Cosco in the termina
Zech Joins All American Marine as Business Development Manager
Bellingham, Wash. shipbuilder All American Marine (AAM) announced it has appointed Daniel Zech as the organization’s business development manager.Zech, originally a Bellingham local, sailed on vessels from French Polynesia to the Caribbean for over a decade. His maritime career took him to the Charter House Yacht Club in the U.S. Virgin Islands, where he managed day-to-day operations for a charter fleet of 28 catamarans and monohulls for multiple years.
Cluster of Chinese Vessels Spotted Near Russian Rig Off Vietnam
A Chinese research vessel flanked by coast guard and nearly a dozen boats on Wednesday entered a gas block operated by Russian and Vietnamese state firms, two monitoring groups said, another potential flashpoint in the South China Sea.It follows a pattern of assertive moves of late by Beijing in its neighbors' exclusive economic zones (EEZ), as it presses its claim to sovereignty over almost the entire South China Sea…
New Police Boat Delivered to Louisiana's St. James Parish
Ocean Craft Marine (OCM) based in Annapolis, Md., has delivered a new police boat to the St. James Parish, La. Sheriff’s Office Special Response Team (SRT).The St. James Parish Sherriff’s Office is adding the Ocean Craft Marine 8M Law Enforcement (LE) Interceptor rigid hull inflatable boat (RHIB) to its assortment of patrol craft in order to augment their riverine capabilities with the latest in high-performance hull designs.
