K+S and Swire Bulk Commit to Emissions Reduction
Mining company K+S Aktiengesellschaft and shipping company Swire Bulk announced a formal partnership to develop decarbonization solutions in an effort to decarbonize their operations and drive reductions in greenhouse gases in the maritime supply chain.Patrick Lieberam, Senior Vice President Supply Chain Management of K+S, shared, “As a mining company, K+S is aware of its responsibility and in the area of logistics…
Cheniere, Equinor ink Long-term LNG Deal
Equinor and Cheniere announced a new 15-year purchase agreement of around 1.75 million tons of LNG per year, with half of the volume starting from 2027. This agreement brings the total volumes that Equinor has contracted with Cheniere up to around 3.5 million tonnes per year.This new Sales and Purchase Agreement (SPA) with Cheniere will double the volumes of LNG that Equinor will export out of Cheniere’s LNG terminals on the U.S. Gulf coast.
Union Calls for Thyssenkrupp Mull Defense Division Sale
Thyssenkrupp should explore a sale of its warship division to peers, in addition to private equity players and a potential stock market listing, according to influential German labor union IG Metall.Leaders should "keep an eye on industrial investors", IG Metall said in a union handout seen by Reuters, adding that while the union remained open for a full or partial sale of the business, options should also include keeping the division.Thyssenkrupp is currently exploring options for Thyssenkrupp
Baltic Dry Index hits Near Four-week Peak
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to a near four-week high on Wednesday, supported by strong demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 60 points, or about 5.6%, to 1,138, its highest since May 26.The capesize index jumped 190 points, or 12.3%, to 1,730.Average daily earnings for capesize vessels, which typically transport 150,000-tonne c
Suez Canal Authority to Sell 20% of Subsidiary in Experimental Offer
Egypt's Suez Canal Authority (SCA) is offering a 20% stake in a subsidiary company in line with a government drive to boost the private sector, but selling or leasing the canal is "out of question", SCA head Osama Rabie said on Wednesday.Rabie said the sale of the 20% stake in the Canal Company for Mooring and Lights on the Egyptian stock market was an experiment and indicated that there could be more stake sales in the future."In principle…
Transportation Recovery Fund joins Tankers International VLCC Pool
Tankers International, the world’s largest shipping pool for VLCCs, announced that Transportation Recovery Fund (TRF) operated vessel the TRF Horten has joined its specialist VLCC Scrubber Pool.The TRF Horten (297,638 DWT / Built 2018) was delivered to Tankers International earlier this month. The total size of the Tankers International fleet now stands at 64 VLCCs, and the specialist Scrubber Pool…
Training Tips for Ships: Empowering Seafarers with AI
In the maritime industry, seafarer safety and professionalism are critical to ensuring smooth operations and minimizing risks. As technical advancements continue to reshape every industry including ours, large language models like ChatGPT and Bard have the potential to directly assist seafarers in performing their duties more safely and professionally. So, how can a seafarer leverage these tools to enhance their onboard performance?
MISC Group, WinGD Ink Deal on Ammonia Engines
Malaysia's MISC Group signed an agreement to develop ammonia engines for ships, marking a step towards zero-emission shipping operations, the company said.MISC-owned AET and Akademi Laut Malaysia (ALAM) have signed an agreement with WinGD to develop engines for ammonia dual-fuelled vessels, a first for deep-sea vessels, MISC said in a statement.ALAM also signed an agreement with shipping classification society DNV for the training…
Teekay Takes FuelOpt Tech on 25 Vessels
Teekay Tankers signed agreements to equip 25 additional tankers with Yara Marine Technologies’ FuelOpt propulsion optimization technology. The order follows the installation and evaluation of FuelOpt onboard Zenith Spirit in 2021, followed by a further three vessels in 2022.Teekay placed the new orders in Q1 and Q2 2023 after having confirmed that the use of FuelOpt onboard four of its vessels, operating with steady shaft power…
The Evolving FPSO Landscape – Healthy Demand, Changing Procurement
After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO demand is competing for yard space with other construction projects.To mitigate delay risk and cost overruns…
Missing Titanic Submersible Update: Searchers Detect Subsea Sounds
Search teams detected underwater sounds while scanning the North Atlantic for a tourist submersible that vanished with five people aboard during a deep-sea voyage to the century-old wreck of the Titanic, the U.S. Coast Guard said early on Wednesday.The detection of the sounds by Canadian aircraft on Tuesday, day three of the search, was reported by the Coast Guard as the clock ticked down to the last…
Maersk to Convert Ship to Dual-Fuel Methanol
A.P. Moller - Maersk will retrofit an existing ship to have a dual-fuel methanol engine, a first for the container shipping industry.The retrofit is scheduled for 2024, and sister vessels are expected to follow when going for special survey in 2027.“We have set an ambitious net-zero emissions target for 2040 across the entire business and have taken a leading role in decarbonising logistics. Retrofitting of engines to run on methanol is an important lever in our strategy.
MOL Trials BioLNG
MOL and partners have completed a trial of bioLNG (liquefied bio-methane or LBM) derived from cattle manure on the domestic LNG fueled general cargo vessel Ise Mirai.Teaming up on the project with MOL were Air Water Inc., Techno Chubu Company, Kyoudou Kaiun,The trial, conducted in Ise Bay, was Japan's first bunkering of carbon-neutral LBM derived from biomass. The vessel was jointly built by MOL Coastal Shipping, Techno Chubu, and Kyoudou Kaiun, and was delivered in December 2020.
MAN Energy Solutions Sells Gas Turbine Business
MAN Energy Solutions has announced the sale of its gas turbine business to China’s CSIC Longjiang GH Gas Turbine.CSIC Longjiang GH Gas Turbine (GHGT) develops small and medium-sized gas turbines in a 5 to 50 MW range as well as high performance and combustion technologies. The company is a subsidiary of China State Shipbuilding Corporation (CSSC) and is headquartered in Harbin (China).With this portfolio adjustment…
Maersk Mc-Kinney Møller Center for Zero Carbon: We Need to Act Now
The Maersk Mc-Kinney Møller Center for Zero Carbon has published a call for IMO member states to act decisively on emissions targets at MEPC 80.The critical role of IMO member states at MEPC 80 report has been published with the warning: “We need to act, and we need to act now.”The Center notes that IPCC's most recent synthesis report delivers a clear message of caution: the pace of global surface temperature rise is surpassing any other period in the last 2…
Wallenius Wilhelmsen Enters Biofuel Supply Deal
Wallenius Wilhelmsen has signed its first biofuel supply contract with ExxonMobil.The recently signed contract entails the delivery of sustainable biofuel within the second half of this year, aligning with Wallenius Wilhelmsen's strategic goal of achieving a net-zero emissions integrated supply chain service by 2027.The first biofuel delivery is scheduled for July. “The biofuel from ExxonMobil contains 30% biofuel and 70% conventional fuels.
Study: Canada Would Benefit from Green Shipping Corridors
A new study from consultancy Arup demonstrates the benefits that Canada could obtain from investing in infrastructure that would enable the uptake of low and zero emissions shipping fuels.The Canadian Green Shipping Corridor Assessment was commissioned by Oceans North, a charity that supports marine conservation and climate action in partnership with Indigenous and coastal communities, and the Vancouver Maritime Centre for Climate.
CSSC and DNV Open Joint Innovation Centre in Shanghai
DNV and China State Shipbuilding Corporation (CSSC) have established a Future Ship Joint Innovation Center in Shanghai.The Center will allow both companies to cooperate on ship and offshore field technical innovation. The Center will set up three joint work groups on decarbonization, digital twin/digital ship, and smart shipping, focusing on developing future-proofed vessel holistic solutions.The Center…
Port of Seattle Commissions Third Shore Power System at Pier 66
The Port of Seattle is installing a third shore power system at Pier 66, making it the world’s first port with three systems for cruise ships.The port receives over 200 cruise vessels in a typical season between April and October, and adding a third shore power system is a major component of the port’s Waterfront Clean Energy Strategy.The new shore power connection is expected to be fully operational…
Doyle Returns to Lead Dredging Contractors of America
The Dredging Contractors of America (DCA) announced William P. Doyle will return to lead the trade association as chief executive officer and executive director.Doyle, a well-known figure in the U.S. maritime industry, most recently served nearly three years as the executive director of Maryland Port Administration, overseeing the six state-owned marine terminals at the Helen Delich Bentley Port of Baltimore.
