Seven Bodies Recovered from Capsized Chinese Fishing Vessel
Seven bodies were recovered from a Chinese fishing vessel that capsized in the central Indian Ocean, according to state media on Monday, days after China President Xi Jinping ordered an all-out search to rescue and recover missing crew members.Several countries, including Australia, India, Sri Lanka, Indonesia, the Maldives, and the Philippines, joined in rescue efforts for 39 missing crew members after the Chinese distant-water fishing vessel "Lupeng Yuanyu 028" capsized early last Tuesday…
Mitsubishi, Nihon Launch Effort to Design, Build an LCO2 Carrier
Mitsubishi Shipbuilding and Nihon Shipyard -- a Tokyo-based joint venture for ship design and sales between Imabari Shipbuilding and Japan Marine United Corporation -- have started joint study for the development of an ocean-going liquified CO2 (LCO2) carrier. Nihon Shipyard is pursuing this project with the aim of completing construction of the vessel from 2027 onwards.Demand for LCO2 carriers is…
Time to Meet the US Mariner Shortage Head On
We have a national and economic security crisis on our hands. It is time for Washington policymakers to stop dancing around the facts and looking for small fixes. The U.S. mariner shortage is real and it poses an unescapable threat not only to our ability to establish lines of communication to the U.S. warfighter, but also to our nation’s ability to project power through international trade.Two Congressional hearings held on March 28 illustrate the challenge.
'Free Money' is Over, but Shipping Finance is Positive
Shipping finance markets for the rest of 2023 look positive, with a depth of lenders, banks, leasing houses and alternative credit funds all seeking to grow their portfolios and offer the best terms to win projects; and competition between lenders in the improving tanker markets is especially fierce, says a recent survey from oceanis.While financing volumes available for each individual vessel have plateaued as asset values rose over the past quarter…
OSM Maritime Group and Thome Group Get Merger Approvals, Creating a Ship Management Giant
OSM Maritime Group and Thome Group have received approvals from competition authorities to merge and create one of the world's largest ship management companies.The merged company, OSM Thome, says it will be a powerhouse in the international ship management market, represented in 22 countries and headquartered in Arendal, Norway.Finn Amund Nordbye CEO of OSM Thome said: "This is a big day for OSM Thome. Our merger is now formally and finally approved.
Bangladesh's Moheshkhali LNG Terminal Back to Nearly Full Capacity
Bangladesh's Moheshkhali liquefied natural gas (LNG) terminal, operated by Excelerate Energy, resumed supply at nearly full capacity late on Sunday, two government officials told Reuters, after being closed for about a week due to a deadly storm. The resumption of operations at the two terminals is set to provide a respite to millions of Bangladesh citizens, who have been hit by frequent outages in recent months.
U.S. Coast Guard Saves Three Boaters Stranded on Offshore Oil Platform
The U.S. Coast Guard said Sunday it had rescued three boaters from an offshore oil platform after their vessel sank near Freeport, Texas, Sunday."Coast Guard Sector Houston-Galveston watchstanders received a report at approximately 3 a.m. from Matagorda County Sheriff's Office that three men were stranded on an offshore oil rig platform with no position after their vessel began taking on water," the U.S.
Photo of the Day: Submarine Surfacing
The ballistic missile submarine USS Maine surfaces to receive a vertical replenishment from Marines assigned to the III Marine Expeditionary Force in the Philippine Sea, May 9, 2023. Vertical replenishments enable Navy vessels to quickly receive critical resources without disrupting maritime security operations.
US Announces $220 Million to Modernize Ferry Service
Biden-Harris Administration Announces Availability of $220 Million to Modernize Ferry Service and Better Connect Rural CommunitiesThe U.S. Department of Transportation's Federal Transit Administration (FTA) on Friday announced the availability of $220 million from President Biden’s Bipartisan Infrastructure Law to support or modernize passenger ferry service in rural and urban communities across the country. Across the country, there are approximately three million ferry riders each month.
Future USS Jack H. Lucas (DDG 125) Completes Acceptance Trials
HII’s Ingalls Shipbuilding division in Pascagoula, Miss. announced Friday the completion of acceptance trials for Arleigh Burke-class guided missile destroyer the future USS Jack H. Lucas (DDG 125).Jack H. Lucas (DDG 125) is the first Flight III Arleigh Burke-class destroyer being built for the U.S. Navy by Ingalls and incorporates a number of design modifications that collectively provide significantly enhanced capability.
Asian Spot LNG Prices Slip to Two-year Low
Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021…
New Manned Barge Designed for Rocket Transport
A new barge has been designed to transport rockets for spacecraft launch service provider United Launch Alliance (ULA).Naval architecture firm Bristol Harbor Group, Inc. (BHGI) said it was recently selected by ULA to design a river and oceangoing manned roll-on / roll-off barge for the transportation of its Vulcan Centaur rockets. The barge will be supported by an operations and cargo monitoring crew.In support of ULA’s competitive solicitation for ship fabrication this summer…
Fincantieri Awarded Contract to Build Fourth Constellation-class Frigate
Marinette, Wis. shipbuilder Fincantieri Marinette Marine (FMM) has been awarded a $526 million contract to build a fourth Constellation class frigate for the U.S. Navy, the U.S. Department of Defense announced. The contract for the lead frigate and nine option ships, signed in 2020, has a cumulative value of $5.5 billion, including post-delivery availability support and crew training. FMM received the $795 million contract for the first frigate in the Constellation class program…
Austal USA Awarded US Navy TAGOS-25 Contract
Mobile, Ala. shipbuilder Austal USA announced it has been awarded a contract potentially worth more than $3 billion for the detail design and construction of new TAGOS-25 class ocean surveillance ships for the U.S. Navy.The $113.9 million fixed-price incentive (firm target) and firm-fixed-price contract includes options for detail design and construction of up to seven T-AGOS 25 class ships which, if exercised…
South Africa Grants Turkey's Karpowership Deal to Ease Power Crisis
South Africa has granted Turkey's Karpowership access to the three ports of Ngqura, Durban and Saldanha Bay for a period of 20 years, the transport ministry said on Thursday, as it tries to find solutions to the country's power crisis.Karpowership aims to generate power on its floating gas ships and distribute it through South Africa's electricity grid. The plan received a boost from President Cyril…
Sakhalin Energy Sues Svitzer over Tugboats
Russia's Sakhalin Energy operating company has filed a lawsuit in a Russian court over tugboats owned by Denmark's Svitzer, a unit of shipping and oil group A.P. Moller-Maersk, court documents showed on Thursday. The Russian court on the Pacific island of Sakhalin last month ordered the seizure of four tugboats belonging to Svitzer at the request of Sakhalin Energy, which claimed that the Danish company had unilaterally annulled the freight contract with it.
US West Coast Ports Regain Lost Volume as Competitive Pressure Mounts
Some U.S. importers who shifted cargo away from West Coast ports to rival gateways over fears that labor contract talks could disrupt shipments have begun bringing some of that volume back, even as those negotiations stretch into their 13th month, company supply chain executives said.But anxiety over labor negotiations only explains part of the market share losses at West Coast container ports, including the nation's busiest at Los Angeles/Long Beach…
Black Sea Gain Corridor has Not Yet Resumed Operations
The Black Sea grain corridor designed to ensure the safe supply of Ukrainian food to world markets has not yet resumed operation despite statements by Turkey and Russia on extending the agreement, a senior Ukrainian official said on Thursday.The deal has been extended for two more months, in what U.N. Secretary-General Antonio Guterres hailed on Wednesday as “good news for the world,” a day before…
Ukraine Black Sea Grain Deal Extended for Two Months
The Ukraine Black Sea grain deal has been extended for two more months, in what U.N. Secretary-General Antonio Guterres hailed as "good news for the world," a day before Russia could have quit the pact over obstacles to its grain and fertiliser exports.Turkish President Tayyip Erdogan announced the extension in a televised speech and it was later confirmed by Russia, Ukraine and the United Nations.The…
Cultivating Tomorrow’s Waterways Workforce
The American Waterways Operators (AWO) is taking action to help address an industry need and a national imperative to recruit, retain and develop the next generation of maritime employees.As much as the tugboat, towboat and barge industry contributes to our nation’s prosperity and security today, we are an industry with an incredibly bright future that has even more to offer in the years to come. Our…
