Signs of Recovery for Ship Recyclers in 2024
After what has been an overall miserable 2023 in the ship-recycling industry and even worse six-month tail end, 2024 seems to be off with just a little more hope and a chance at recovery as positive signs seem to permeate through the markets, says cash buyer GMS.Critical factors such as declining currency values (except in India), flatlining / declining local steel plate prices, and the dreadful (and ongoing) lack of funding on fresh acquisitions (in Bangladesh and Pakistan)…
Provaris Engages DNV for H2Neo Carrier Tank Review
Provaris Energy has engaged DNV for the review and approval of its H2Neo carrier's proprietary hydrogen cargo containment system.Prototype tank construction and testing remains on track to commence in Q1 CY2024 with completion expected by the end of Q2 CY2024. Additional parties involved in the work program located in Norway include Prodtex for construction and SINTEF for prototype testing and reporting.Construction will include the use of two laser welding robots…
SK E&S and Woodside Collaborate on Hydrogen and Ammonia
Australia-based Woodside and South Korea’s SK E&S have signed a non-binding Memorandum of Understanding to enable studies on the potential development of a lower-carbon hydrogen value chain, including hydrogen, ammonia and other related products.Under the agreement, Woodside and SK E&S plan to jointly explore opportunities relating to long-term ammonia and hydrogen offtake arrangements; equity participation in ammonia and hydrogen production projects…
Report Identifies Four Key US Industrial Carbon Capture Clusters
EFI Foundation CEO Ernest J. Moniz has published a new report, supported by carbon capture solutions company Carbon Clean, that describes a new coordinated regional approach in the US with great potential for significant carbon emissions reductions.The report, “A New Industrial Backbone: Exploring U.S. Regional CCUS Hubs for Small-to-Midsize Industrial Emitters” lays out a blueprint that calls for…
2023 Coast Guard Engineer of the Year Named
Lt. Lena “Lexie” Royster, a mechanical engineer in the U.S. Coast Guard Marine Safety Center, in Washington, has been selected as the 2023 Coast Guard Engineer of the Year.The Coast Guard Engineer of the Year Award recognizes Coast Guard active duty and civilian engineers for their accomplishments and achievements. The award’s selection panel considers many factors including engineering accomplishments…
MARAD and AAPA Working to Identify US Port Cargo Handling Needs
The U.S. Department of Transportation’s Maritime Administration (MARAD) and the American Association of Port Authorities (AAPA) announced they are surveying port authorities and marine terminal operators to identify national port cargo handling needs over the next five to 10 years.In addition, through interviews with ports and U.S. manufacturers, this effort will assess the interest and capability…
Air Circulation Begins on Genius Star XI
An air circulation operation has begun on the 410-foot general cargo vessel Genius Star XI which is currently at anchor off Dutch Harbor, Alaska.The vessel, carrying lithium-ion batteries, caught fire on Christmas Day. In response, the crew released carbon dioxide into hold No. 1 and sealed it over concerns of an explosion.The purpose of the air circulation is to increase air flow in the cargo holds so that personnel can enter.
War, Weather Put Ocean Shippers on Notice for Rough Seas in 2024
Recent hostilities in the Red Sea have thrown global shippers of vital goods for a loop - but it is hardly the only issue that big carriers are facing as 2024 kicks off.Giants like Maersk say the industry, which handles 90% of global trade, faces the possibility of significant disruptions, from ongoing wars to droughts affecting key routes like the Panama Canal. Complex vessel schedules are likely to be knocked out of sync for giant container ships…
Iran Guards Commander Challenges 'Enemy' Naval Presence in Region
The commander of Iran’s Revolutionary Guards vowed on Saturday to reach "the enemy" far and near as tensions soar on key shipping routes where Tehran’s allies have been attacking vessels."Today, we are facing an all-out battle with the enemy," said Guards commander Hossein Salami at a ceremony in the southern Gulf port city of Bandar Abbas, where the Guards' navy unveiled a new ship named "Abu Mahdi" and 100 missile launchers.Salami did not name the enemy…
Merchant Vessel Approached by Six Craft Near Yemen
Six small craft approached a merchant vessel about 50 nautical miles from the Yemeni city of Mocha on Saturday before leaving the area, the United Kingdom Maritime Trade Operations (UKMTO) organization said."The vessel and crew were reported safe," UKMTO added in an advisory note on the incident.Yemen's Iranian-backed Houthi militants have stepped up attacks on commercial vessels in the Red Sea in protest against Israel's war in Gaza.
COSCO Halts Shipping to Israel
Chinese shipping firm COSCO has suspended shipping to Israel, Israeli financial news website Globes reported on Sunday.The report, which did not include details behind the decision, came as shipping lanes in the Red Sea have been disrupted by attacks carried out by Iranian-backed Houthi militants in Yemen.COSCO offices in Israel declined comment. Israeli port officials said they were checking the report.(Reuters - Reporting by Ari Rabinovitch and Steven Scheer; Editing by Tomasz Janowski)
