Demand Wanes for Larger Dry Bulk Vessels
The Baltic Exchange's dry bulk sea freight index dropped to its lowest level in more than two years on Thursday, pressured by slowing demand for capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 28 points, or 4.2%, to 640, its lowest since June 4, 2020.The capesize index dropped 54 points, or about 10.8%, to its lowest in more than five months at 445.Average daily earnings for cap
Silja Europe Propulsion Control Makeover Aims to Save 6% on Fuel
Qtagg recently secured an order on a total upgrade of Silja Europa’s propulsion control system, a makeover designed to decrease the ship’s fuel consumption by 6% and CO2 emissions by 2096 tons yearly, according to the manufacturer. The overhaul includes engine speed governors, fuel rack actuators, pitch control and voyage optimization with EcoPilot.At 59,912 gt, Silja Europa is Tallink’s largest cruise vessel.
Intelatus: A Month of Contrasts for U.S. Offshore Wind
February will be a month of contrasts for U.S. offshore wind industry. On the positive side, BOEM is moving forward with lease negotiations for an East Coast floating wind pilot array, and six developers submitted over 100 proposals in response to New York’s third offshore wind solicitation. To support bids, local supply chain development commitments have been presented, which include plans to construct two wind turbine component factories.At the same time…
Ørsted Extends Edda Mistral SOV Charter
Norwegian offshore wind vessel owner Edda Wind has secured a one-year contract extension with Ørsted for its Edda Mistral vessel.Since its delivery in 2018, the Service Operation Vessel (SOV) Edda Mistral has been operating for Ørsted at the Hornsea 1 offshore wind farm in the United Kingdom. The firm period expires at the end of August 2023. Ørsted has declared an option to extend the contract, in direct continuation…
Euronav Beats Q4 Revenue Estimate on Crude Tanker Recovery
Belgian oil tanker and storage operator Euronav EUAV.BR reported better-than-expected fourth-quarter revenue and profit on Thursday, driven by large crude tanker recovery and seasonal demand for crude oil.The tanker market, which has battled low earnings since the pandemic first hit oil demand, got a boost last year as Russia diverted oil exports from Europe, mainly to Asia, after many Western buyers…
Brazilian 'Ghost' Aircraft Carrier Gets a Reprieve
A decommissioned 32,000-ton 1960's aircraft carrier has been floating off Brazil's shore for three months since Turkey refused it entry to be scrapped there because the rusting ship is an environmental hazard.The Brazilian Navy's Sao Paulo carrier had been towed by tugs to Europe but did not get past the Gibraltar straits, and was returned across the Atlantic.The Navy has acknowledged the ship is a risk to the environment and could sink…
Anchorage Launch Gets New Metal Shark-built Crew Boat
Metal Shark delivered a welded-aluminum 45 Defiant crew boat to Anchorage Launch Services Company, an Oregon-based operator providing launch, line, pilotage, and cargo services to vessels on the Columbia and Willamette Rivers.Designed in-house by the Metal Shark engineering team and built at the company’s Jeanerette, La., production facility, the 47 x 12 ft. twin-diesel waterjet-powered “Triumph VII” is now in service.“Our captains…
Wagenborg's Multi-Purpose Vessel to Support Decommissioning Works in the Southern North Sea
Offshore vessel operator Wagenborg Offshore said Tuesday it had secured a long-term deal with an unnamed energy major for the deployment of a multi-purpose offshore vessel.According to Wagenborg, the vessel will support subsea activities and decommissioning works in the Southern North Sea.Wagenborg said that an existing young PX121 platform supply vessel would be converted into a multipurpose offshore vessel within 34 weeks at the shipyard Royal Niestern Sander in Delfzijl."During this period…
Baltic Index Drops to Lowest Since June 2020
The Baltic Exchange's dry bulk sea freight index fell to its lowest since June 2020, weighed by weaker demand for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 13 points, or 1.9%, to 668 on Wednesday. The capesize index dropped 33 points, or about 6.2%, to its lowest in five months at 499.
Greenpeace Activists Board Heavy-lift Vessel Carrying Shell's Penguins FPSO
Four Greenpeace activists on Tuesday boarded the heavy transportation vessel carrying Shell's Penguins FPSO aboard, calling on the oil major to "Stop Drilling. Start Paying."Six Greenpeace International activists attempted, and four managed to board Boskalis' White Marlin vessel in the Atlantic Ocean north of the Canary Islands. The heavy transportation vessel is carrying the recently delivered 34…
Diana Shipping Takes Delivery of Ultramax Dry Bulker, Secures Charter
Bulk carrier firm Diana Shipping said Wednesday it had has taken delivery of the 2016-built DSI Aquarius ultramax dry bulk vessel of 60,309 dwt. The ship, which used to be called STH Kure…
Keppel to Deliver Guyana-bound 'Mega' FPSO to SBM Offshore in 1Q
Singapore's Keppel Offshore & Marine said Wednesday it was on track to deliver a "mega" floating production, storage, and offloading vessel (FPSO) to SBM Offshore in the first quarter of 2023. This is the third FPSO that Keppel Shipyard is delivering to SBM Offshore and will be chartered to the consortium of ExxonMobil, CNOOC, and Hess, to operate in the Stabroek Block, offshore Guyana. The vessel was named Prosperity FPSO by Guest of Honour…
WindServe Marine Secures Loan for Offshore Wind CTV Construction
WindServe Marine, a U.S. offshore wind support services company, has secured a loan from The Washington Trust Company, for the construction of three new 88-foot crew transfer vessels (CTV), recently commissioned by Ørsted, the largest offshore wind developer in the world. "Washington Trust was founded on the southwestern shoreline of Rhode Island and as a good corporate citizen, we are committed to protecting and preserving the local environment.
Dalian Coking Coal Slumps as Traders Eye Australian Supply
Chinese coking coal futures extended losses to hit their lowest in four weeks on Wednesday, as traders kept an eye on a batch of Australian coal cargoes expected to arrive soon in top steel producer China.Rising Chinese steel inventories also weighed on overall market sentiment, analysts said.China is seen gradually resuming Australian coal imports, having eased an unofficial trade ban imposed in 2020…
'Party is over': Hapag Lloyd CEO Says Freight Rates to Keep Declining
Container freight rates will keep declining in the current realignment of shipping demand and supply, said the chief executive of Germany's liner Hapag Lloyd, the world's number five by transport capacity."The party is over. We are back to a normal shipping business," CEO Rolf Habben Jansen told reporters at a briefing late on Tuesday on the state of the market, in which his company reported sky-high profits for three years running."Now we have to fight for every box again to get our ships full…
Analysis: Container Shipping and Falling U.S. Retail Sales
“Despite falling 1.1% m/m in both November and December, US retail sales volumes remain 13% above 2019 levels and 6% higher than the pre-COVID trend. However, sales volumes could return to trend during 2023 and thereby pose a risk for Asia to North America container volumes,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.Supported by COVID stimulus packages and mobility restrictions limiting spending on services…
As Ice Recedes, Italian Ship Makes Record Journey into Antarctic
An Italian ice-breaker carrying scientists researching in the Antarctic has sailed further south than any ship has done before, the organizers of the voyage said on Tuesday, a further sign of how ice is retreating around the poles.The Laura Bassi vessel reached a point with the coordinates of 78° 44.280 S in the Bay of Whales in the Ross Sea, according to Italy’s National Institute of Oceanography and Applied Geophysics.The voyage was made possible by an unusual lack of ice in the area, it said.
UK Navy Buys Mine-hunting ‘Mother Ship’
A specialist ship purchased by the U.K. Royal Navy to support mine-hunting operations has arrived in Plymouth.When deployed, the vessel will be based at Naval Base Clyde and used as a mother ship tp support the safeguarding of U.K. waters from the threat of mines at sea, operating a range of uncrewed systems that will help keep personnel at a safe distance under Project Wilton.Purchased from Norway's Island Offshore…
Irish Ferries Taps Armada for Hull Air Lubrication System
Armada Technologies announced that Irish Ferries has contracted for a feasibility study and integration engineering for the Armada ‘passive air lubrication system’…
Western Tankers Ramp Up Russian Oil Shipments
Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow's flagship Urals grade held below an international price cap, according to market sources and Eikon data.The Group of Seven nations (G7), Australia and the 27 European Union countries placed a price limit on Russian crude oil of $60 per barrel on Dec. 5.The cap allows non-EU countries to import seaborne Russian crude oil…
