A Glimmer of Optimism Shines in Ship Recycling Market
A glimmer of optimism seems to have been aroused in the sub-continent ship recycling markets this week, reports cash buyer GMS.The sentiment comes as several units were reportedly concluded to optimistically fervent cash buyers (at increasingly firmer levels) who are perhaps eager to book tonnage pre-Monsoon end. This could potentially satiate some of the forthcoming increase in demand from the sub…
CO2 Shipping on the Rise
The transportation of CO2 is taking to the seas as emitters look for flexible ways to move captured carbon to offshore storage projects, with a fleet of 55 carriers required by 2030, according to Rystad Energy research.Based on planned carbon capture projects, Rystad predicts that more than 90 million tonnes per annum (tpa) of CO2 will be shipped by the end of the decade, volumes requiring 48 terminals to handle the import and export of the gas.As the global carbon capture…
CHIRP Introduces Port Sector Safety Newsletter
Voluntary near-miss reporting scheme CHIRP Maritime is celebrating its 20th anniversary by introducing a new port sector safety newsletter alongside its regular 'Maritime FEEDBACK' editions.“We are thrilled to announce the launch of a new series of newsletters specifically tailored to ports and harbours for three specific reasons,” says Adam Parnell, Director (Maritime) at CHIRP. “Firstly, we aim to raise safety awareness among individuals by providing them with vital education and knowledge.
ABS Signs MoU to Develop Hydrogen-Fueled Passenger Vessel
ABS signed a memorandum of understanding (MoU) with the Korea Hydrogen Industry Association (KHIA) and the University of Ulsan, Foundation for Industry Cooperation to develop a small, 40-seat vessel for tourism, equipped with electric propulsion using a 350kW hydrogen fuel cell.The zero-emission vessel qualifies as one of the research, development and demonstration projects associated with Korea’s national hydrogen strategy.Ock Taeck Lim…
Hapag-Lloyd CEO: Transatlantic Shipping Trades Under Pressure
Transatlantic shipping freight rates have come under pressure from slack demand, meaning ship operators must watch costs, the chief executive of Germany's Hapag-Lloyd said on Monday."Rates have definitely collapsed, and that means we have to start looking at our costs, which have gone up," said Rolf Habben Jansen, CEO of Hapag-Lloyd, the world's fifth biggest container liner, in a call with journalists.He listed higher wage inflation, fuel prices, and terminal and timecharter costs, adding that
Two Dead as Algerian Coastguard Fires at Jet Skiers Who Strayed Into its Sea from Morocco
Algeria's defense ministry said on Sunday its coastguard fired warning shots before firing directly at a man on a jet ski who entered Algerian waters, in an incident that a survivor said left two dead.The incident took place on Tuesday after five men strayed into Algerian waters on jet skis near the Moroccan coastal resort of Saidia on Algeria's border, according to Mohamed Kissi, who said he survived…
Ukraine Limits Cargo Shipments to Danube Port after Russian Strikes
Ukrainian railways have partially restricted cargo shipments to Ukraine's major Danube River port Izmail, which has been the target of Russian drone attacks in recent weeks, the railways said on Monday.The restrictions began on Sunday, the railways said in a statement.Russia has attacked Ukrainian ports on the Danube River with drones two nights in a row. The latest attack on the Danube River port of Izmail…
Aker BP, Höegh LNG in Carbon Transport and Storage Services Pact
Floating LNG solutions provider Höegh LNG and the Norwegian oil and gas firm Aker BP have entered a strategic partnership to develop a "fully comprehensive carbon transport and storage offering for industrial CO2 emitters in Northern Europe.""The agreement combines the companies’ respective strengths, expertise, and technologies to establish a strong value chain for CCS on the Norwegian Continental Shelf that includes gathering…
DNV Gives Thumbs Up to Moss Maritime's LH2 Ship Transport Solution
Moss Maritime, Norwegian company specializing in design and engineering services to the offshore energy industry as well as other ocean-based sectors and a subsidiary of Italy's Saipem, has secured an Approval in Principle (AIP) from the classification society DNV for a containment system for ship transport of liquefied hydrogen (LH2).Ship transport of liquefied hydrogen is seen as one of the key technical challenges in realizing the energy transition to a carbon-free future…
How Serious a Problem is the Cost Issue in U.S. Offshore Wind?
Much has been written recently about the challenges facing U.S. offshore wind projects, resulting in requests to terminate or renegotiate contracts to sell power to states. Examples of these challenges can be found from Massachusetts to Virginia. Coming on top of last week’s somewhat disappointing events of the Gulf of Mexico lease auction, speculation has mounted around the longer-term prospects for U.S. wind.
