OPEC+ Prepares for 2024 Demand Uncertainty
Speaking after the November 30 OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “The decision by OPEC+ to continue with its previously announced production cuts and Saudi/Russia to extend their voluntary production cuts to the end of Q1 2024 is not a surprise, given current pricing and the uncertainty in the market over the strength of the global economy and oil demand growth.
ABS Supports Edison Chouest with Sustainability Reporting
ABS is working with offshore support vessel operator Edison Chouest Offshore (ECO) on its decarbonization journey with greenhouse gas inventory and sustainability reporting services. ECO has nearly 300 vessels.ABS specialists have been working with the ECO team since 2022 providing a gap analysis for the ECO environmental, social, and governance (ESG) report using the Global Reporting Initiative (GRI) Framework.This led to a full sustainability reporting project in 2023…
McAllister Towing Releases Its First Sustainability Report
McAllister Towing has released its inaugural sustainability report.ABS specialists worked with McAllister’s team to provide greenhouse gas inventory and sustainability reporting services, calculating the operational carbon intensity and benchmarking the performance of the McAllister fleet of more than 60 vessels, including tugboats, passenger ferries, offshore supply vessels, crew boats and barges in over 13 locations along the U.S.
FEPORT, ETA, EMPA and ECASBA Raise Cargo Diversion Concerns
As risks of cargo diversion to the detriment of EU ports are becoming more and more real with the upcoming entry into force at the beginning of 2024 of EU ETS for shipping, local organizations are voicing their concerns.The Federation of European Port Companies and Private Terminals (FEPORT), European Tugowners’ Association (ETA), European Maritime Pilots’ Association (EMPA) and European Community…
Vale’s First Bulk Carrier Biofuel Trial Commences
Vale, working in partnership with Oldendorff Carriers, has just commenced its first biofuel voyage on a bulk vessel.The trial is taking place on an Oldendorff vessel performing a laden Vale voyage from Brazil to Asia, carrying a full cargo of iron ore.The Hinrich Oldendorff (209,113 deadweight built 2016) loaded the biofuel in Singapore on October 16 on the ballast voyage to Brazil. The vessel then…
Van Oord JV Awarded Dredging Project at Port of Burgas
Cosmos Van Oord, a joint venture (JV) of Cosmos Shipping and Van Oord, has been awarded a dredging project at Port of Burgas, the biggest port in Bulgaria.The project is part of the construction of a new deep-water berth at terminal Burgas-West in the Port of Burgas. This will establish a dedicated port zone for container handling and storage, and introduce eco-friendly methods for efficiently transferring…
Yara Plans World’s First Ammonia-Powered Container Ship
Yara Clean Ammonia, North Sea Container Line, and Yara International have joined forces to realize the world's first container ship that will use clean ammonia as fuel. Named Yara Eyde, the vessel will be the first to sail emission-free sea route between Norway and Germany.Yara Eyde will operate between Oslo, Porsgrunn, Hamburg and Bremerhaven, so that from 2026, Norwegian companies can trade their products emissions-free in and out of Norway. Yara International is participating as cargo-owner.
MPA and IACS Collaborate on Maritime Initiatives
The Maritime and Port Authority of Singapore (MPA) and the International Association of Classification Societies (IACS) have signed a Letter of Intent (LOI) to collaborate on various maritime digitalization and decarbonization initiatives.The LOI was signed by Teo Eng Dih, Chief Executive of MPA, and Nick Brown, Council Chairman of IACS, at the sidelines of the 33rd session of the IMO Assembly in London this week.Under the LOI…
Arsenio Dominguez Velasco Confirmed as Next IMO Secretary-General
Arsenio Antonio Dominguez Velasco has been confirmed as the next Secretary-General of the IMO. The IMO Assembly unanimously approved the decision of the Council at its 129th session on November 30.Dominguez Velasco will take up the office of Secretary-General on January 1, 2024, for an initial term of four years. He becomes the Organization's 10th elected Secretary-General.The outgoing Secretary-General, Kitack Lim, congratulated his successor on his appointment.
Phase II of IMO’s Maritime Technology Cooperation Centre Project Announced
The IMO and the European Commission (EC) have announced a second phase of the Global Maritime Technology Cooperation Centres Network (GMN) project, with funding from the EU.The aim of the second phase is to upscale the work of the five regional centres, with a particular emphasis on pilot demonstrations aimed at achieving quantifiable reductions in GHG emissions.The GMN Phase II project follows the successful Phase I which established the five Maritime Technology Cooperation Centres (MTCCs)…
EBDG Power Barge to Feature Wärtsilä Dual-fuel Methanol Engine
Wärtsilä announced it is teaming up with Elliott Bay Design Group (EBDG) to advance EBDG’s Clean Harbor Alternative Mobile Power (CHAMP) Barge design.This partnership introduces a cost-effective solution to reduce emissions from large vessels in situations where traditional shore power is not available and features Wärtsilä's dual fuel methanol engine technology, the partners said.The floating mobile platform offers a power range of 6 to 16 Megawatts, utilizing green methanol as its source.
Maritime Just Transition Task Force Plans Seafarer Skills Update
A new training project will prepare seafarers for zero or near-zero emission ships, helping the global shipping industry decarbonize and ensure a just transition for seafarers.Research commissioned by the Maritime Just Transition Task Force identified that 800,000 seafarers may require additional training by the mid-2030s to operate vessels run on zero or near zero emission fuels.The training framework…
Maritime and Port Authority of Singapore Joins the Maritime Technologies Forum
The Maritime and Port Authority of Singapore has joined as an associate member, bringing regulatory and technological expertise to further support MTF’s objectives.Today, the Maritime Technologies Forum (MTF), whose founding members include ABS, DNV, Lloyd’s Register, ClassNK, Japan’s Maritime Bureau, Ministry of Land, Infrastructure, Transport and Tourism, the Norwegian Maritime Authority and the U.K.’s Maritime and Coastguard Agency…
IMO and Korea Agree to Boost SMART-C Program
The IMO and the Republic of Korea have signed a suite of agreements to formally establish and boost the IMO-Republic of Korea Sustainable Maritime Transport Cooperation (SMART-C) program.The goal of the KRW 25.5 billion (approximately $20 million) SMART-C program is to promote sustainable maritime transport systems and a sustainable marine environment by building knowledge and developing technical…
bp's Search for New CEO to Extend into Next Year
bp's search for a new chief executive is set to extend into the first quarter of 2024, three sources told Reuters, while the board's probe into whether previous CEO Bernard Looney breached the code of conduct in his undisclosed personal relationships with staff drags on.The oil company has been in turmoil since Looney's resignation in September, company sources told Reuters, and the share price has…
Russia's Novorossiisk Resumes Oil Loadings
Russia's Novorossiisk port resumed oil loadings after a severe storm on Thursday, two sources familiar with the port's operations told Reuters.The loadings started as the weather conditions improved after the storm had suspended exports since last week, one of the sources said.The nearby Caspian Pipeline Consortium (CPC) terminal, a main export route for Kazakhstan's crude oil, said on Thursday it had also resumed oil loadings.(Reuters - Reporting by Reuters; Editing by Kirsten Donovan)
Baltic Dry Bulk Index Doubles in November
The Baltic Exchange's dry bulk sea freight index .BADI gained for the sixth consecutive session on Thursday, more than doubling in November to hit an one-and-a-half year peak helped by mounting supply of tonnage and cargo demand.The overall index .BADI, which factors in rates for capesize, panamax, supramax shipping vessels, was up 241 points or 8.9% at 2,937.
New York Launches Offshore Wind Solicitation
New York released a new offshore wind solicitation on Thursday to keep the state on track to meet its renewable energy goals and support a nascent industry that has faced financial trouble in recent months.Offshore wind is expected to play a major role in New York's plan to reduce carbon emissions by getting 70% of the state's electricity from renewable sources by 2030. It is also a pillar of President Joe Biden's plan to decarbonize the U.S.
US Ferry Services to Receive New Funds Through Bipartisan Infrastructure Law
The U.S. Department of Transportation’s Federal Transit Administration (FTA) on Thursday announced grants totaling $220.2 million from President Biden’s Bipartisan Infrastructure Law to modernize the nation’s ferry systems. The program focuses in part on expanding ferry service in rural communities, helping communities acquire modern ferry boats (including electric boats that reduce carbon pollution)…
Dredge Construction Booming in Competitive US Market
A dredge building boom that has been underway in the United States for several years is still going strong as the market remains highly completive for solid project workloads in both the public and private sectors.According The Mike Hooks Report, an analysis of the FY22 U.S. federal dredging market compiled in September 2023 by Michael Gerhardt, senior director of government affairs at Mike Hooks, LLC, 52 Jones Act dredging companies were awarded federal dredging contracts in FY2022.
