Panagiotidis Family Buys Two Bulk Carriers from Castor Maritime
Castor Maritime announced it has reached deals to sell two bulk carrier vessels to entities owned by a family member of Castor Maritime's chairman, CEO and CFO, Petros Panagiotidis.Under separate agreements signed January 19, 2024, the Cyprus-based company sold the 2010-built Panamax bulk carriers Magic Nova and Magic Horizon for $16.1 million and $15.8 million respectively. Both vessels are expected…
Russian Oil Facilities Hit by Drone Attacks, Fires
Russia energy infrastructure has been hit by drone attacks and fires in the past month, adding to uncertainty in global oil and gas markets already rocked by the conflict in the Middle East.Russia and Ukraine have targeted each other's energy infrastructure in strikes designed to disrupt supply lines and logistics and to demoralise their opponent as they try to get the edge in a nearly two-year-old…
Mark Exeter Joins Kraken Technology Group as COO
U.K. based Kraken Technology Group announced it has appointed Mark Exeter as its new chief operating officer.Exeter joins Kraken from L3Harris where he was managing director of their U.K.-based autonomous surface vehicles (ASV) division. With a 30-year career in engineering and technology-led businesses, and 16 of those leading multi-disciplinary teams in maritime robotics, Exeter’s appointment as COO will be a significant catalyst and force-multiplier for Kraken’s operational capabilities…
New Marine Radar Training Software Launched
U.K.-based Cambridge Pixel has unveiled a new software package to aid in the instruction and learning of the proper usage of maritime radars.SPx Radar Trainer is designed to make it easier for students to familiarize themselves with radar controls by providing a modern simulation of a typical radar display, supported by chart and 3D environment views. It includes custom scenario creation for instructors and runs in a browser window for ease-of-use.Developed by Cambridge Pixel…
Designing Ships Around Emissions: The Right Path or a Fork in the Road?
When discussing ship design, the maritime industry has been tossing around a number of new terms and definitions. Sustainability, alternative fuel “ready”, digitization and lifecycle are a few of the terms becoming more commonplace amid the industry’s search for zero emissions solutions. As IMO MEPC 80 meetings push emissions reduction to meet “well to wake” requirements, we will learn much of the challenge is tied to energy and infrastructure ashore.
Saltchuk Takes Anther Run at OSG Takeover
Seattle-headquartered Saltchuk Holdings has renewed its bid to take over Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—OSG’s largest shareholder—had previously offered to acquire OSG in June 2021 but suspended those discussions several months later, citing pandemic-related market uncertainties.OSG, which operates U.S.-flag tankers and articulated tug barges (ATB)…
World's Largest Cruise Ship Sets Sail, Bringing Concerns About Methane Emissions
The world's largest cruise ship is set for its maiden voyage on Saturday, but environmental groups are concerned that the liquefied natural gas-powered vessel - and other giant cruise liners to follow - will leak harmful methane into the atmosphere.Royal Caribbean International's Icon of the Seas sets sail from Miami with capacity for 8,000 passengers across 20 decks, taking advantage of the surging popularity of cruises.The ship is built to run on liquefied natural gas (LNG)…
Russia Eases Harsh Weather Restrictions to Boost Oil Exports
Russian ports are operating during more severe storms and easing restrictions for non ice-class vessels during winter, traders said and regulations showed, in an attempt to boost exports following disruptions from Western sanctions and harsh weather.Following the European Union oil embargo, Russia has to rely mostly on seaborne loadings, rather than westbound pipeline supplies via the Druzhba pipeline.Traders and analysts said the easing of restrictions carried technical and ecological risks, bu
Crounse Takes Delivery of New Towboat from Conrad
Paducah, Ky. headquartered Crounse Corporation announced it has taken delivery of a new 6,034-horsepower towboat built by Conrad Shipyard, based in Morgan City, La.The 166- by 48- by 12-foot Alice is named after the company’s first vessel that began operating in 1949. Delivered with a U.S. Coast Guard Certificate of Inspection for Subchapter M compliance and two EPA Tier 4 compliant main engines, the…
Sri Lankan Trawler Rescued from Somali Pirates
Six crew members of a Sri Lankan fishing trawler hijacked by suspected Somali pirates have been rescued, Sri Lankan officials said on Monday.The hijacking on Sunday was the latest in a series of attacks that have fueled fears of a resurgence of Somali piracy in the Gulf of Aden and Red Sea waters after years without a successful raid.Pirates who caused chaos in the key waterways from 2008 to 2018 appear to be taking advantage of disorder caused by attacks on shipping by Yemen's Iran-aligned Hout
Danish Frigate Departs for the Red Sea
Denmark on Monday sent a frigate to the Red Sea, where it will participate in a U.S.-led coalition to safeguard commercial traffic against attacks by Yemen's Houthi militants.The Iran-aligned Houthi have launched waves of exploding drones and missiles at commercial and navy vessels since Nov. 19, in response to Israel's military operations in Gaza.In response, shipping firms have since December diverted hundreds of vessels around southern Africa's Cape of Good Hope…
Maersk Names Charles van der Steene President for North America
A.P. Moller - Maersk (Maersk) announced it has appointed Charles van der Steene as the new Regional President for North America, effective February 1, 2024. With the move, van der Steene will join the company’s Executive Leadership Team.A logistics industry veteran, van der Steene joined Maersk in 2011 with deep global experience in commercial leadership, operations and general management. He previously…
ABB and Norwegian Cruise Line Solidify Long-Term Partnership
Norwegian Cruise Line Holdings (NCLH) has signed a partnership agreement with ABB to accelerate the decarbonization and digitalization of the Norwegian Cruise Line fleet.Targeting increased safety and efficiency, the agreement covers 14 existing ships and a further four vessels due for delivery from 2025 to 2028.The first phase of the partnership includes a 10-year Azipod propulsion service agreement for the fleet…
Seatrium Delivers Singapore’s First Membrane LNG Bunker Vessel
Seatrium has delivered Brassavola, Singapore’s first membrane LNG bunker vessel built locally by the group, to owner Indah Singa Maritime, a wholly-owned subsidiary of Mitsui O.S.K Lines (MOL).Following delivery, Brassavola will be chartered by Pavilion Energy to supply LNG bunker in the Port of Singapore.The vessel, which is expected to start operations in February 2024, will also be deployed by TotalEnergies…
Trafigura Assesses Red Sea Risks after Tanker Attack by Houthis
Commodities trader Trafigura said on Saturday it was assessing the security risks of further Red Sea voyages after firefighters put out a blaze on a tanker attacked by Yemen's Houthi group a day earlier.The U.S. military said a U.S. Navy ship and other vessels provided assistance after the Marlin Luanda was hit by a Houthi anti-ship missile."No further vessels operating on behalf of Trafigura are currently…
First Low-Carbon Floating Wind Installation Vessel Gets UK Funding
The UK government has awarded funding to a consortium led by Morek Engineering to design a new class of low-carbon installation vessel for the floating offshore wind market.The consortium, which includes Morek Engineering, Solis Marine Engineering, Tope Ocean, First Marine Solutions and Celtic Sea Power, won the funding through the UK Government’s Clean Maritime Demonstration Competition.The outline…
ONE Secures AiP for 3500 TEU Ammonia Dual-Fueled Vessel
Japanese container shipping company Ocean Network Express (ONE) has secured the Approval in Principle (AiP) for an ammonia dual-fueled vessel.The newly AiP-awarded 3,500 TEU vessel was jointly developed by ONE, Nihon Shipyard (NSY) and classification society DNV, as part of a joint development project established in late 2022 among the three parties.Along with recent investment in 12 methanol dual-fueled vessels…
