New Wave Data Underpins Ship Structural Integrity
The loss of the Stellar Daisy in 2017 was a tragic reminder of the importance of wave data to ship design and operation. The vessel sank in the South Atlantic Ocean, with 22 of 24 crewmembers lost. The structural failure of the vessel was attributed to several factors including material fatigue and the forces imposed on the hull as a result of the weather conditions.Survey requirements for some vessel types have since been tightened…
Armstrong Tapped to Lead Babcock Marine Sector
Babcock International Group (Babcock) appointed Paul Armstrong to lead its marine sector, delivering a number of critical UK and international defence programmes, including the UK’s Type 31 frigates for the Royal Navy.With a career that started in shipbuilding in Barrow-in-Furness, Armstrong brings a wealth of wide-ranging industry experience to grow and develop one of Babcock’s core business sectors.
Theodossopoulos Names CEO of METIS
METIS Cyberspace Technology appointed Panos Theodossopoulos as its new Chief Executive Officer.Theodossopoulos has considerable experience in leadership roles in the ICT and maritime sectors. In recent years, he has specialized in maritime digitalization, co-founding a maritime tech start-up in 2015 and later serving as Chief Digital Officer at OceanKing, a marine technical and commercial group. Previous…
ExxonMobil CEO Rebuffs IEA Criticism of Carbon Capture Strategy
ExxonMobil CEO Darren Woods on Saturday rejected the International Energy Agency's recent claim that using wide-scale carbon capture to fight climate change was an implausible "illusion", saying the same could be said about electric vehicles and solar energy."There is no solution set out there today that is at the scale to solve the problem," Woods told Reuters on the sidelines of the COP28 climate summit in Dubai."So…
COP28: US Cracking Down on Methane from Oil and Gas
The Biden administration on Saturday unveiled final rules aimed at cracking down on US oil and gas industry releases of methane, part of a global plan to rein in emissions that contribute to climate change.The rules, two years in the making, were announced by US officials at the United Nations COP28 climate change conference in Dubai. The US and other nations attending the summit are expected to detail…
AD Ports Group and Vietnam Maritime Administration Sign MoU
AD Ports Group and the Vietnam Maritime Administration (VINAMARINE), have signed a memorandum of understanding (MoU) to bolster commercial opportunities across various sectors, including ports, logistics, digital solutions, economic cities, free zones, maritime and shipping.Under the terms of the agreement, both entities will focus on key areas of cooperation, including the development and management…
Suez Canal Signs Green Methanol MoU
Egypt's Suez Canal economic zone and Scatec ASA have signed a memorandum of understanding (MoU) worth $1.1 billion to supply ships with green fuel, a Suez Canal statement said on Sunday.The MoU agreed on the sidelines of the COP28 conference held in Dubai envisages production of 100,000 tonnes of green methanol per year by 2027, the statement said.(Reuters - Reporting by Yusri Mohamed Editing by David Goodman)
Houthis Attack Commercial Ships, US Warship in the Red Sea
The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, as Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area."We're aware of reports regarding attacks on the USS Carney and commercial vessels in the Red Sea and will provide information as it becomes available," the Pentagon said.Yemen's Houthi movement said its navy had attacked two Israeli ships…
Gensets: New Fuels but Perennial Goals
Fuel flexibility may be a key driver for recent developments in gensets, but the perennial goals of lowering CapEx and OpEx remain.Fuel flexibility is one of the pillars of decarbonization that is being embraced by genset OEMs. Fuel efficiency, a second pillar, goes hand in hand with that because new fuels will be more expensive, but these concerns come in addition to the on-going drive to reduce CapEx…
JIP to Advance Offshore Wind Concrete Floater Standards
DNV secured partners to launch a new project to enhance technology development and prepare for scale/industrialization of concrete substructures for floating offshore wind.The new Joint Industry Project (JIP) called Concrete FLOW will optimize requirements for concrete floaters (floating or semisubmersible structures, generally moored to the seabed, used as foundations upon which equipment can be mounted)…
Banga Takes Hong Kong Shipowners Association Helm
Angad Banga of the Caravel Group was elected as new Chairman of the Hong Kong Shipowners Association (HKSOA). He succeeded Wellington Koo, of Valles Steamship Co., Ltd, who stepped down after completing his two-year term as Chairman of the HKSOA.Banga has also taken over the Chairmanship of Asian Shipowners’ Association (ASA) at the same time. Banga’s tenure as Chairman of ASA will come to an end on the day of ASA’s next AGM to be held in Hong Kong on 28 May 2024.
Hahn & Co weighs sale of South Korea's SK Shipping
South Korean private equity firm Hahn & Co is reviewing strategic options for its majority stake in SK Shipping Co, including a sale that could value the company at about $10 billion including debt, Bloomberg News reported on Thursday.Hahn & Co is working with financial advisers as it weighs a partial or full sale of its stake, the report said, citing people familiar with the matter, adding that it was considering other options like selling individual divisions of the Seoul-based shipping compan
Russia Fails to Get Re-elected to the IMO
Russia on Friday failed to win enough votes for re-election to the United Nation's shipping agency's governing council after Ukrainian President Volodymyr Zelenskiy had urged countries not to allow Moscow to be part of the UN body's executive arm.The outcome is another blow for Russia after it failed in its bid to return to the UN's top human rights body in October, in an election seen as a key test…
