Maritime Partners Acquires Maersk's USMMI
Maritime Partners, a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC (USMMI) from Maersk Line, Limited.USMMI owns and operates U.S. flag vessels—including one owned maritime support vessel, three owned tankers, and one bareboat chartered tanker—for charter to the U.S. Navy's Military Sealift Command.
Inland Dredging Co Awarded Brownsville Dredging Job
Dyersburg, Tenn. based Inland Dredging Co. has been awarded a contract from U.S. Army Corps of Engineers' Galveston District for channel pipeline dredging in Brownsville, Texas.The company beat out three other bidders to secure the $10,433,550 firm-fixed-price contract.Work is estimated to be completed by June 19, 2024.
Russia Hits Ukrainian Port Facilities
Ukrainian officials said Russia struck Ukrainian port infrastructure and grain storage facilities on Tuesday, but also reported some progress on the front lines in the three-month old counteroffensive by its forces.President Volodymyr Zelenskiy spoke of "good details" from the front without further explanation and said Ukraine clearly understood where to apply pressure to make it felt in Moscow."Sanctions are not enough.
Philippines Condemns Chinese 'Floating Barrier' in South China Sea
The Philippines on Sunday accused China's coast guard of installing a "floating barrier" in a disputed area of the South China Sea, saying it prevented Filipinos from entering and fishing in the area.Manila's coast guard and Bureau of Fisheries and Aquatic Resources "strongly condemn" China's installation of the barrier in part of the Scarborough Shoal, Commodore Jay Tarriela, a coast guard spokesperson…
Ship Insurance Facility Set Up for Ukraine Grain Exports
A new marine insurance facility for Ukrainian grain exports using the country's sea corridor has been set up in conjunction with Ukraine's authorities, insurance broker Miller said on Tuesday.Russia quit a U.N.-backed deal in July to enable exports from Ukraine to sail from three approved ports.Since then, Kyiv has launched what it calls a new temporary humanitarian corridor in an effort to break Russia's de facto blockade.
Value Maritime Installs First Filtree System for Ardmore Shipping
Value Maritime announced it has completed the first in a series of nine installations of its emissions reducing Filtree systems for product and chemical tanker company Ardmore Shipping Corporation.Taking place in China, this was the first time that Value Maritime has installed its system outside of Europe. The Ardmore Seaventure is also the first Ardmore vessel now fully equipped with Value Maritime’s Filtree system.
Svitzer Expands Its Tug Fleet in Brazil
A.P. Moller - Maersk's towage arm Svitzer announced the continued expansion of its fleet in Brazil, as part of the ongoing growth of its operations in the country.Svitzer Monte KT is the fourth tug to join the fleet in the country since April. The vessel is a sister to three tugs already delivered to Svitzer in 2023, which have been deployed across the ports of Pécem, Paranagua, and Santos on Brazil’s coast.
The Real Cost of Net Zero Ports
Zero emission is a nice idea, but who’s going to pay for it? The U.S. EPA is readying big money for zero emission ports.The U.S. Environmental Protection Agency (EPA) is working on two high-profile port initiatives that it hopes will move the needle in a big way towards U.S. ports’ zero emissions (ZE) operations and clean air goals.The first initiative started last May when EPA published a request…
First Monopiles for Giant U.S. Offshore Wind Project Set Sail
German offshore wind monopile maker EEW SPC said Monday that the first eight monopiles for the Dominion Energy Coastal Virginia Offshore Wind Project in the U.S. were loaded at the Rostock quayside in Germany, and set sail for the U.S. on September 21, 2023.In preparation for RoRo loading, the monopiles were lifted into the transport cradle using the Strand Jack system. Now aboard the carrier deck…
Fugro to Convert Two PSVs to Geotechnical Vessels
Dutch offshore survey firm Fugro will convert the Fugro Resilience and the Topaz Endurance, two ULSTEIN PX121 platform supply vessels (PSVs), to geotechnical vessels, targeting their deployment in the global offshore renewable energy market.Fugro acquired the two platform supply vessels, the Topaz Endurance and the Topaz Energy (renamed Fugro Resilience), in February 2023.Ulstein Design & Solutions AS is responsible for the redesign of the two vessels…
Mideast-Asia Oil Shipping Rates Rebound, Capped by OPEC+ Supply Cuts
The cost of chartering a supertanker to load Middle Eastern crude oil for Asia has rebounded from a 19-month low in September, but industry sources expect output supply cuts, led by Saudi Arabia, to cap freight rates for the rest of the year.The world's benchmark very large crude carrier (VLCC) export route from the Middle East Gulf (MEG) to Japan, known as TD3, rose to W50.46 on Monday in the Worldscale measure of freight rates, LSEG data showed.
Arbitration Tribunal Delivers Verdict: Hanwha Triumphs in Deepwater Drillship Dispute
An arbitration tribunal has delivered a verdict in a drillship order cancellation case involving offshore drilling contractor Northern Drilling and Daweoo Shipbuilding Marine and Engineering (now known as Hanwha Ocean), ruling in favor of Hanwha.Billionaire John Fredriksen-owned offshore drilling company Northern Drilling canceled the West Aquila and West Libra drillship orders with South Korea's Daewoo Shipbuilding & Marine Engineering in 2021…
HD KSOE Engineering Vice Chairman Receives Industrial Award
HD Korea Shipbuilding & Marine Engineering Vice Chairman Ga Sam-hyeon has received the Silver Tower Order of Industrial Service Merit for his contribution to national industrial development.The award was made in recognition of his achievements as a manager who contributed to the development and take-off of Korea's shipbuilding industry.The award was presented at the 20th Shipbuilding and Maritime Day…
Samsung Heavy Industries Acquires Shipbuilding Industry First ISO Certifications
Samsung Heavy Industries has acquired the International Organization for Standardization's 'Compliance Management System (ISO 37301)' and 'Anti-Corruption Management System (ISO 37001)' certification from Lloyd's Register (LRQA), claiming a first in the shipbuilding industry.ISO 37301 and 37001 are international certifications that are awarded by strictly evaluating the systematic management of a company's compliance management and anti-corruption management system.
250,000 Seafarers Have Pay Boosted by 6%
Seafarers’ unions and maritime employers have signed a four-year agreement that will see significant wage increases and dozens of workplace protections and improvements for over 250,000 seafarers’ serving on more than 10,000 vessels.The International Bargaining Forum (IBF), the forum that negotiates the world’s largest global collective bargaining agreement, agreed terms for the 2024-2027 IBF Framework…
ICS Opens New Representative Office in Shanghai
The International Chamber of Shipping (ICS) has announced the inauguration of a new ICS Representative Office in Shanghai.This strategic move follows the admission of the China Shipowners’ Association as a full ICS member in January 2023 and extends the presence of the ICS China Liaison Office which will continue to have a presence in the Hong Kong SAR.The new ICS office, within the offices of the China P&I Club…
Japanese Shipping Companies Partner on Liquefied Hydrogen
Japanese shipping companies, Kawasaki Kisen Kaisha (“K” Line), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kabushiki Kaisha (NYK), have agreed to join JSE Ocean, a subsidiary of Japan Suiso Energy (JSE).JSE remains the majority shareholder with 50.2% of stock, whilst the shipping companies hold 16.6% each.Japan’s Basic Hydrogen Strategy, revised by the Japanese government in June 2023, identifies hydrogen as the alternative to fossil fuels as it targets decarbonisation.
Arctic and Antarctic Sea Ice Reach Minimum Extent for 2023
Arctic sea ice likely reached its minimum extent for the year at 4.23 million square kilometers (1.63 million square miles) on September 19, 2023, according to scientists at the National Snow and Ice Data Center (NSIDC) at the University of Colorado Boulder.The 2023 minimum is ranked sixth lowest in the nearly 45-year satellite record. The last 17 annual minimum extents are the lowest 17 in the satellite…
GMS Reports Feverish Buying in Ship Recycling Markets
Cash buyer GMS reports another week of “astonishing” activity in sub-continent ship recycling markets, with owners and cash buyers primarily focusing on the Indian market where several extraordinarily priced container sales reportedly took place over the recent weeks.The $600/ton mark was even exceeded on a container unit once again, in what seems to be the surest sign yet, that sentiments and demand in Alang are back on track…
2023 Robert Allan Memorial Scholarship Award Recipients Announced
The Trustees of the Robert Allan Memorial Scholarship Trust and Robert Allan Ltd. Have awarded two scholarships for the 2023/2024 academic year.Awards have been made to Samuel Shanks of Port Alberni, BC, and Zachary Greenham of St. John’s, Newfoundland.Shanks is a second-year student of mechanical engineering at the University of Victoria, focussed on a career in marine engineering. Throughout high…
