Baltic Dry Index Ticks Up on Capesize Jump
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Monday as rates for the larger capesize vessel segment rebounded.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 7 points, to 1,542.
Castor Maritime Sells 2007-built Panamax for $12.6 Million
Shipping company Castor Maritime announced it has sold the 2007-built Panamax bulk carrier Magic Rainbow to an undisclosed buyer for $12.6 million.The 73,593 dwt…
Strategic Marine Orders 100 Caterpillar Engines
Singapore-based shipbuilding group Strategic Marine announced it has placed an order with Caterpillar dealer Trakindo, for 100 of its Cat C32 engines.This follows its previous pre-order of 50 similar engines in May 2022 and is aimed at providing security to clients and avoiding long wait times for key components.While the engine supply chain disruptions of the past few years have been alleviated somewhat as global manufacturing catches up post-Covid…
French Strikes Continue to Block Refinery Shipments and LNG Terminals
Shipments of refined products from French refinery and depots were blocked on Monday by a 13th day of strike action, though some refineries operated with a reduced flow, a company spokesperson said.The industrial action is part of a nationwide movement against pension system changes that lift the retirement age two years to 64. The changes were forced through parliament without a vote last week.There…
Soo Locks to Open March 25 for 2023 Shipping Season
The Great Lakes' 2023 shipping season will commence on March 25 with the opening of the Poe Lock at 12:01 a.m., the U.S. Army Corps of Engineers, Detroit District announced.The operating season is fixed by federal regulation and driven in part by the feasibility of vessels operating in typical Great Lakes ice conditions.The Poe Lock closed January 16 to undergo critical repairs and maintenance during the 10 week-long winter shutdown.
Coast Guard Helicopter Airlifts Injured Worker from BP's Atlantis Platform
The U.S. Coast Guard medevaced a 28-year-old man from BP's Atlantis offshore platform Friday, about 130 miles south of Port Fourchon, Louisiana.Coast Guard Sector New Orleans watchstanders received a call at approximately 5:40 p.m. from a medic aboard the Atlantis requesting assistance to medevac a crewmember aboard the platform with an injury to his eye.Watchstanders coordinated the launches of a…
Getting the Work Right: Coordinating Money, Time and Big Projects
I. MoneyNo one ever said it’s easy to understand federal budgets and spending plans. Nevertheless, a general sense of clarity and straightforwardness is critical for any review of public expenditures. This becomes more pressing when tracking revenue and expenditures linked to specific users’ fees, such as the $0.29/gallon fuel tax, paid by inland waterways operators. In 2021, the Inland Waterways Trust Fund (IWTF) held $221.5 million…
In Case Affecting Oil, Norway Supreme Court Says EU Ships Cannot Fish Arctic Snow Crab
OSLO, March 20 (Reuters) - Norway's Supreme Court ruled on Monday that EU ships cannot fish for snow crab off the Svalbard archipelago in the Arctic in a case also deciding who has the right to explore for oil and minerals in the region.At stake was whether EU vessels had the right to catch snow crab, whose meat is considered a delicacy by gourmets in Japan and South Korea, in the same way as Norwegian vessels did.But what is valid for the snow crab…
NYK's First Domestic CTV Named "Rera As"
Last week at the Wind Expo Spring 2023 in Tokyo, NYK announced the name of a crew transfer vessel (CTV) for the Ishikari Bay New Port offshore wind farm, for which NYK has a multi-year time charter contract with Siemens Gamesa.At the naming presentation with James Tham, managing director of Penguin Shipyard International, and Tsutomu Yokoyama, general manager of NYK’s Green Business Group, NYK explained that "Rera As" means "the wind blows" in the language of the Ainu…
Maersk Sells Supply Service to Family Holding Company for $685M
Maersk has agreed to sell its offshore marine service provider Maersk Supply Service to family-owned holding company A.P. Moller Holding for $685 million, the Danish shipping giant said in a statement on Monday.The sale marks the completion of Maersk's strategic shift that began in 2016 away from energy towards focusing on its transport and logistics business, which included selling its oil exploration…
SHI, Kongsberg Ink Pact to Develop Autonomous LNG Carrier
Samsung Heavy Industries Co. (SHI) and Kongsberg Maritime (KM) signed a Joint Development Project Agreement (JDA), an agreement that serves as the basis to develop a design for next-generation 'autonomous' 174K LNG Carrier, leveraging autonomous, remote and low emission technology.In the partnership, SHI will be system integrator with overall design responsibility, while KM will be responsible for the integrated solution designs and have the role as a strategic partner.
Lukoil-backed Congo Project to Start Producing LNG in December
A senior executive at Russia's Lukoil energy company said a project in the Congo in which it is involved would begin producing liquefied natural gas (LNG) in December, Russian news agencies reported. Lukoil Vice President Ivan Romanovsky said the initiative would produce around 600,000 tonnes of LNG per year, and that Lukoil plans to boost total LNG output at the Marine XII oil and gas project in the Congo to 3 million tonnes by the end of 2025.Lukoil acquired a 25% stake in Marine XII in 2019.
Chevron Suspends Production at Thai Oil Field after Fatal Accident
Production at the Benchamas oil field in the Gulf of Thailand was suspended immediately after an accident last week and remains offline, U.S. oil giant Chevron Corp said in a statement on Monday.The announcement comes after an accident last week at an oil storage vessel caused seawater to leak into the vessel's hull, killing one crew member."We have recovered the body of our colleague who was fatally injured on March 13…
Saddam's Rusting Yacht Serves as Picnic Spot for Iraqi Fishermen
Capsized in a river in southern Iraq, the rusting wreck of a yacht that belonged to Saddam Hussein serves as a stark reminder of his iron-fisted rule that ended with the U.S.-led invasion two decades ago.The 121-metre (396 ft) "al-Mansur", a symbol of Saddam's wealth and power when it was built in the 1980s, is today a destination for sightseers and fisherman who clamber aboard the wreck to picnic and drink tea."When it was owned by the former president…
US Ports Eye Shipping Turnaround
The leader of the busiest U.S. seaport on Friday said February's cargo volume hit the lowest level since the start of the pandemic as inflation and economic upheaval hurt demand, and signaled that activity may not pick up until the second half of this year."This is a global phenomenon. We may not be at the height of the pandemic, but there are more container vessels sitting idle around the world today than at any time since it began…
Russia Says It Held Naval Drills with China and Iran
Russia, China and Iran have completed three-way naval exercises in the Arabian Sea that included artillery fire at targets on the sea and in the air, the Russian defence ministry said on Saturday.The exercises, off the Iranian port of Chabahar, took place as Russian President Vladimir Putin prepares to host his Chinese counterpart Xi Jinping in Moscow for a three-day state visit starting on Monday.Russia has continued to stage military exercises with partners, especially China, despite the strai
Vattenfall Picks Port for Giant Norfolk Offshore Wind Zone
Renewable energy developer Vattenfall has selected the port at Great Yarmouth, run by infrastructure specialists Peel Ports, as the preferred location for the operations and maintenance base for the Norfolk Offshore Wind Zone.When completed, Vattenfall’s Norfolk Offshore Wind Zone will be able to power around 4.6 million households.According to Peel Ports around 130 new jobs would be created with staff directly employed for the lifetime of the project which is around 35 years.
US Navy Accepts Delivery of LCAC 105
The U.S. Navy announced it accepted delivery of the next-generation landing craft, Ship to Shore Connector (SSC), Landing Craft, Air Cushion (LCAC) 105, March 8.LCACs are built with configurations, dimensions, and clearances similar to the legacy LCACs they replace – ensuring that this latest air cushion vehicle is fully compatible with existing well deck-equipped amphibious ships, the Expeditionary Sea Base and the Expeditionary Transfer Dock. LCACs are capable of carrying a 60-75 ton payload.
Lessons Learned from the USS Bonhomme Richard Fire
Shipboard fire a constant threat: Bonhomme Richard tragedy an enduring lesson in fire prevention, responseJuly 12, 2020 was a lazy Sunday morning at Naval Base San Diego. USS Bonhomme Richard (LHD 6), which had been commissioned only two years earlier, had recently made the base its new homeport and was docked as it underwent a maintenance availability.But, the silence of that morning was rocked by an explosion a few minutes before 9 a.m.…
LR Awards AIP for Rotoboost’s Pre-combustion Carbon Capture System
Classification society Lloyd’s Register (LR) said it has awarded approval in principle (AIP) to Rotoboost, a Nordic hydrogen production company, for its pre-combustion Carbon Capture System (CCS) Rotobox. Rotobox uses thermocatalytic decomposition process (TCD) onboard marine vessels, where part of the natural gas fuel supply is converted into hydrogen and graphite with a liquid catalyst.The TCD process significantly reduces CO2 emissions…
