Baltic Dry Index Down as Capesize Vessel Rates Fall
The Baltic Exchange's main sea freight index fell for a second straight session on Monday, weighed down by a dip in capesize vessel rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 14 points to 1,223.The capesize index fell 60 points, or 3.8%, to 1,538, its lowest in nearly four weeks.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron
US Offshore Wind: Long-term Outlook Bright Despite Short-term Concerns
While trouble areas continue to emerge in the young U.S. offshore wind industry, analysts at Intelatus Global Partners maintain an optimistic outlook for the industry in the long term.The business intelligence and consulting firm said in its latest U.S. Offshore Wind Report that it sees long-term foundations for the U.S. offshore wind sector solidifying, referencing several positive advancements such…
Ampelmann Inks Second Contract for New Ulstein CSOVs
Dutch offshore access provider Ampelmann announced it has signed a new contract to build two more W-type systems for Ulstein, on behalf of one of Germany’s major shipowners. This is Ampelmann's second contract with Ulstein to provide an integrated gangway system on two new vessels.The two W-types are estimated to be delivered by 2025 with the contracts including two systems firm, followed by a potential two plus two in the client options.
Labor Shortages, Climate Change & Technology: They’re All Related
Many problems in our “New World” can be solved more quickly than ever due to the speed at which information now travels. Gone are the countless long days of research, because often our questions can be answered instantaneously at a computer terminal or on a handheld mobile device. Traditional investment, research, science and industry have all attempted to reconfigure their business practices to accept that information speed.
Shipowners, Port Operators Ramp Up Methanol-fueling Projects
Interest in methanol as an alternative fuel has grown in the shipping industry, which seeks to achieve net-zero emissions by 2050.Below is a list of upcoming methanol bunkering-related projects by companies and ports:COMPANIES:A.P. Moller-MaerskMaersk received the world's first methanol-enabled container ship in July. It has 24 more such vessels on order to help it to achieve its goal of using low…
Electric Boat Lays Keel for Submarine Tang (SSN 805)
General Dynamics Electric Boat held a keel laying for the Virginia-class submarine Tang (SSN 805) at its facility in Quonset Point, North Kingstown, R.I.The submarine will be the third ship in the U.S. Navy to carry the name Tang. The first USS Tang was a Balao-class submarine, SS 306, credited as the most successful U.S. submarine of WWII, sinking the most tonnage of any U.S. submarine—33 enemy ships…
Russia Ships Naphtha to China via North Sea Route
Russia is shipping a naphtha cargo via the North Sea Route (NSR) as Moscow seeks to increase supplies using the route to major trade partner China, cutting its way through European waters, traders said and Refinitiv data showed.SCF Irtysh is loaded with with 37,000 tonnes of naphtha onboard, loaded at Ust-Luga port on August 5, 2023, for delivery to China. It is the first such loading since at least the late 2000s…
Interferry to Co-host European Shipping Summit
Interferry – representing more than 270 companies and some 1,200 individual members from over 40 countries – is co-hosting a workshop at next month’s European Shipping Summit in Brussels to stress the importance of shifting more goods transport from road to short sea services, notably through better use of European Union funding to enhance the sector’s competitiveness.The workshop – ‘How to increase…
Historic Drought, Hot Seas Slow Panama Canal Shipping
Before the Ever Max ship carrying lava lamps, sofas, Halloween costumes and artificial Christmas trees could make its inaugural Panama Canal voyage this month, a historic drought forced it to drop weight by offloading hundreds of containers.Weather-related disruptions denied the vessel, owned by Taiwanese shipping company Evergreen Marine, a chance on Aug. 1 to set a record for carrying the most containers…
Mitsubishi Shipbuilding Begins Testing Ammonia Handling System
Mitsubishi Shipbuilding has announced that it is currently developing the Mitsubishi Ammonia Supply and Safety System (MAmmoSS®), an ammonia handling system to support the utilization of ammonia as marine fuel.As part of this development project, Mitsubishi Shipbuilding has begun demonstration testing of the Ammonia Gas Abatement System (AGAS), a subsystem of MAmmoSS to safely treat surplus ammonia.Using the AGAS demonstration facility at the Nagasaki District MHI Research & Innovation Center…
Ukraine May Use New Black Sea Route for Grain Shipments
Ukraine is considering using its newly-tested wartime Black Sea export corridor for grain shipments after other cargo ships follow the first successful evacuation of a vessel on the route last week, a senior agricultural official said on Monday.Russia has blockaded Ukrainian ports since it invaded its neighbour in Feb. 2022 and threatened to treat all vessels as potential military targets after pulling out of a U.N.-backed safe passage deal last month.In response…
Video: Pyxis Ocean Sails with WindWings
Mitsubishi Corporation’s Pyxis Ocean, chartered by Cargill, is the first vessel to be retrofitted with two BAR Tech WindWings.The 37.5 meter sails were produced by Yara Marine Technologies and are expected to generate average fuel savings of up to 30% on new build vessels.The installation of the wings took place at the COSCO shipyard in China and the Pyxis Ocean is now on the water, conducting her maiden voyage.“The maritime industry is on a journey to decarbonize—it's not an easy one…
NYK Tests Biofuels on Australian Voyage
Nippon Yusen Kabushiki Kaisha (NYK), NYK Group’s Asahi Shipping, and Kobe Steel have announced a successful trial run of biofuels on a voyage between Japan and Australia.The companies supplied biofuel via ship-to-ship transfer to the bulk carrier Sunrise Serenity at the port of Kobe in Japan. The vessel was supplied with biofuel by Toyota Tsusho Marine Fuels Corporation and then sailed to the port of Newcastle…
CCS Grants AiP for Liquid Hydrogen Fuel Supply System
China Classification Society (CCS) has issued a first Approval in Principle (AiP) certificate for the marine liquid hydrogen fuel supply system developed by Weishi Energy Technology Hebei.The system design includes a marine liquid hydrogen tank and cold box, supercooled hydrogen storage technology, heat exchange technology, regulated hydrogen supply technology and subcooled hydrogenation technology.
Lethargy Continues in Ship Recycling Market
The lethargy in subcontinent recycling markets continues for another week as owners and cash buyers continue to offload tonnage at spiralling prices, chasing down rates seemingly by the day, reports GMS.“We have seen prices decline from over USD 600/LT LDT earlier this year, to seeing several standard (albeit poor condition) dry bulk sales below USD 500/LDT recently.”Therefore, a fall of over USD 100/LDT…
Iranian Oil Cargo Being Unloaded After Long Delay
A cargo of Iranian crude oil that was seized by the United States was unloading on Sunday after waiting two-and-a-half months off the coast of Texas to discharge…
No Clear Winner in US, China Contest in the Pacific
The United States opened international aid offices in the Pacific Islands this week, bolstering support for the strategic region and pitting it more forcefully against China, which has been providing infrastructure loans to the area for years.The vast ocean region, pivotal in World War Two, is in the spotlight again amid tensions over Taiwan. Taiwanese officials this week said China, which claims the island as its territory…
Boston Ship Repair Awarded $13.8 Million MSC Job
Boston Ship Repair has been awarded a contract for the regular overhaul and dry docking of Military Sealift Command’s (MSC) expeditionary fast transport USNS Burlington (T-EPF 10).The $13,824,169 firm-fixed-price contract includes a base period and two unexercised options which, if exercised, would bring the cumulative value of this contract to $13,880,012. Boston Ship Repair's bid won among four…
DP World Posts 10% Fall in H1 Profit, Flags Uncertain Trade Outlook
Dubai's state-owned ports giant DP World said on Thursday its first-half profit fell nearly 10% from a year earlier, even as revenue climbed nearly 14%, and flagged an uncertain outlook for trade.Profit attributable to DP World's owners in the six months to June was down 9.7% at $651 million from a year earlier, when the port operator posted record profit of $721 million."While the near-term trade outlook may be uncertain due to macroeconomic and geopolitical factors…
Poland's Orlen, Gaz-System Sign Gas Deal for Planned Floating Terminal
Poland's Orlen has signed a contract with state-owned pipeline operator Gaz-System for the regasification of up to 58 liquefied natural gas (LNG) cargoes per year at a planned floating gas terminal, the energy company said on Friday.Poland has turned to seaborne LNG as well as gas piped from Norway via Denmark and the Baltic Sea to replace supply from Russia.The planned terminal is to be built on the…
