Cyprus Chamber Sees Significant Impact from Houthis on Shipping
Sustained attacks by Yemen's Houthis on vessels using Red Sea shipping lanes could have a "substantial" impact on economies and a knock-on effect on prices, a key Cypriot shipping industry group said on Thursday.Attacks by Houthis have disrupted a vital trade route, particularly of oil, as vessels access the Suez Canal via the Red Sea. Some shipping lines have been forced to divert vessels from the Red Sea to longer routes…
Classic Boat Updated with Modern Hybrid Propulsion System
A classic 1930s-built boat with a storied history has been updated with a hybrid propulsion system from Transfluid.Originally built in 1937 in Tacoma, Wash., the Western Flyer is most well known as the boat chartered by John Steinbeck in his 1940 expedition to the Gulf of California chronicled in The Log from the Sea of Cortez. Called “the most famous research vessel to ever have sailed”, the Flyer is a 77ft wooden fishing vessel that has been restored in Port Townsend, Wash.
Rebuilding the Foundations of US Offshore Wind
As we enter a New Year, the memories of the shocks to the foundations to the U.S. offshore wind segment remain fresh. In short, supply chain inflation and capacity/availability, interest rate increases, and tax credit monetization have been the key themes highlighted by developers to explain why many projects became commercially unviable.Several Northeast and Mid-Atlantic states have reacted rapidly…
Finnlines Names Kallio-Mannila Head of Group Sales, Customer Service and Marketing
Merja Kallio-Mannila has been appointed as Head of Group Sales, Customer Service and Marketing as of January 1, 2024. Kallio-Mannila also continues as the Head of Sales and Customer Service Finland.Kallio-Mannila has been a member of Finnlines’ Executive Committee since January 2022. She joined Finnlines in 2001 and has since then held several key management positions, most recently as a Deputy Head of Group Sales, Customer Service and Marketing.
Shipping Attacks Push US and Allies to Mideast Crunch Point
When the United States and 11 allies published a joint statement last week calling for an end to Houthi attacks from Yemen on Red Sea shipping, they hoped the implicit threat of force might at least reduce the intensity of fire on foreign vessels.Instead, Wednesday saw the largest single attack yet on foreign vessels, according to Western defence officials, launched seven days after the joint statement.
DFDS Completes FRS Iberia/Maroc Acquisition
DFDS has completed its acquisition of FRS Iberia/Maroc, a short-sea ferry company connecting Spain and Morocco via the Strait of Gibraltar.“We are excited to start the integration of FRS Iberia/Maroc and look forward to applying our joint capabilities to grow the business while continuing to provide reliable, efficient ferry services to both passengers and freight customers,” said Torben Carlsen, CEO of DFDS.Reporting preliminary revenue of DKK 1.0bn for 2023…
Turkey, Romania, Bulgaria Unite to Clear Floating Mines in Black Sea
Turkey, Romania and Bulgaria signed an agreement on Thursday on a joint plan to clear mines floating in the Black Sea as a result of the war in Ukraine, following months of talks between the NATO allies.Turkish Defense Minister Yasar Guler, his Romanian counterpart Angel Tilvar and Bulgaria's Deputy Defence Minister Atanas Zapryanov signed a memorandum of understanding in Istanbul to form a trilateral initiative to clear the explosives."With the start of the war…
Oil Tanker Involved in US-Iran Dispute Boarded by Armed Guards Near Oman
An oil tanker caught up in a dispute last year between the United States and Iran was boarded by armed individuals off the coast of Oman on Thursday and appeared to have changed course towards Iran, according to UK maritime sources.The Marshall Islands-flagged tanker St Nikolas was boarded by armed intruders as it sailed close to the Omani city of Sohar, according to British maritime security firm Ambrey…
Gale-force Winds and High Waves Leads to Tilting of Elevated Liftboat
Gale-force winds and high waves from a storm led to the listing of an elevated liftboat in the Gulf of Mexico, the National Transportation Safety Board (NTSB) said Wednesday. Damage to the vessel and cargo was estimated at $6.9 million.On November 20, 2022, the liftboat L/B Robert was reported to be listing alongside a stationary oil platform in the Gulf of Mexico about 80 miles southeast of Lake Charles, Louisiana.
UN Security Council Demands Houthis Stop Red Sea Attacks
The U.N. Security Council on Wednesday demanded Yemen's Houthis immediately end attacks on ships in the Red Sea and cautioned against escalating tensions while implicitly endorsing a U.S.-led task force that has been defending vessels.The demand came in a Security Council resolution that also called on the Houthis to release the Galaxy Leader, a Japanese-operated vehicle carrier linked to an Israeli businessman that the group commandeered on Nov.
Surging VLCC Rates Impact US Crude Oil Shipments to Asia
The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week.With the arbitrage for U.S. shipments closed, Asian refiners may make up some of the difference with similar Middle Eastern crude oil after top regional producer Saudi Arabia cut their sales prices for February, which is expected to carry over to other regional crudes.
MAN’s Most Powerful Medium-Speed Engine Chosen for TSHD
MAN Energy Solutions has won the contract from Royal Boskalis to supply 3 × MAN 49/60 engines for a 31,000 m³ Trailing Suction Hopper Dredger (TSHD).Each engine will come accompanied by an exhaust-gas after-treatment system, namely an MAN Low-Pressure Selective Catalytic Reduction (LP-SCR) system, that ensures IMO Tier III compliance. The newbuilding will be built at Dutch shipbuilding company, Royal IHC…
Record Container Ship Deliveries Expected in 2024
In 2023, shipyards delivered 350 new container ships with a total capacity of 2.2 million TEU, beating the previous record from 2015 when 1.7 million TEU was delivered. “The 2023 record is now likely to be beaten already in 2024,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.As 2023 saw a relatively low level of container ship recycling, new ships entering the fleet caused an 8% rise in the capacity of the container fleet, the fastest growth registered since 2011.
Polish Shipping Association Joins ECSA
The European Community Shipowners’ Associations (ECSA) has welcomed the Polish Shipping Association as a full member as of January 1, 2024.The Polish Shipping Association brings together the Polish Shipowners’ Association (ZAP) and the Polish Shipping Companies Association (PZPŻ).“We are proud to welcome the Polish Shipping Association as a new member of ECSA. The Polish Shipping Association extends the geographical scope covered by our membership…
Wallenius Wilhelmsen Re-Routes Vessels Away from Red Sea
“The safety of our people is our number one priority,” said Wallenius Wilhelmsen in a statement indicating that until further notice it has decided to reroute all vessels to avoid the Red Sea area.“To monitor the ever-changing situation, we have developed a cross-functional team. Aside from ensuring safety, the team is evaluating operational, legal and commercial implications over the next couple of months.”All vessels planned for Red Sea transit will be re-routed to the Cape of Good Hope.
Salvors to Remove Fuel from Sunken Tug in California
Salvors are set to begin removing fuel from a 1940s era military tugboat that sunk in California last year, the U.S. Coast Guard said.The Mazapeta sunk September 4, 2023, in Little Potato Slough within the San Joaquin Delta, northwest of Stockton, Calif. with approximately 1,600 gallons of diesel and engine oil were reported onboard at the time of the incident.To date approximately 593 gallons of petroleum product have been recovered from inside the containment boom area…
Volvo Penta Unveils Its IPS Professional Platform
Volvo Penta has unveiled IPS Professional Platform, its new propulsion offering for superyachts and commercial marine vessels, slated for commercial availability from 2025.Volvo Penta said the new fully integrated helm-to-propeller solution builds on its proven Inboard Performance System (IPS) and Electronic Vessel Control (EVC) technology with enhancements for larger vessels.The flexible platform enables a vessel to have up to eight power sources…
HII Names Courtney Corporate VP of Legislative Affairs
HII announced that Peter Courtney has been promoted to corporate vice president of legislative affairs and Betsy Bina Benedict will join HII to serve as the director of legislative affairs. Courtney succeeds Carolyn Apostolou who retired in December after 10 years with the company.Courtney will be located in HII’s Arlington office and report directly to Stewart Holmes, HII’s executive vice president of government and customer relations (GCR).
Egypt's PM, Maersk Officials Discuss Developments in Red Sea
Egypt's Prime Minister Mostafa Madbouly discussed developments in the Red Sea with officials from shipping group Maersk in a video conference and ways to enhance cooperation, a statement from the Egyptian cabinet said on Wednesday.Madbouly stressed the centrality of the security and safety of maritime navigation in the Red Sea to Egypt's national security in light of its close connection to the Suez Canal, which is used by roughly one-third of global container ship cargo, the statement added.Ira
Hunt Valve to Equip USCG Polar Security Cutter
Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), announced it has been awarded a purchase order to provide motor-operated valves (MOVs) through Hunt Valve for the U.S. Coast Guard’s (USCG) Polar Sentinel (WMSP-21). The cutter is the first of three multi-mission vessels that will comprise the Polar Security Cutter program, which is intended to supplement…
