FueLNG Achieves 200th Ship-to-Ship LNG Bunkering in Singapore

FueLNG has successfully completed its 200th ship-to-ship (STS) LNG bunkering operation.The milestone operation was conducted by FueLNG Venosa, delivering 9,000 cubic metres (cbm) of LNG fuel to CMA CGM Bahia on 29th June at the Raffles Reserve Anchorage in Singapore. This vessel is part of a new generation of six CMA CGM containerships featuring “biomethane and e-methane ready” engines and an enhanced aerodynamic design.Saunak Rai…
GMS: Vessel Prices Expected to Decline in July

Vessel prices are already down by about USD 20 – USD 25 / LDT, reports cash buyer GMS, as further decline is expected in the first half of July as previously forecast.Shipowners and cash buyers are now chasing down a declining market, and recyclers are facing exacerbating economic challenges. Not only are local steel plate prices in shambles, but currencies are also taking tumbles at key destinations…
BIMCO: Container Shipping Market Strength Predicated on Red Sea Re-Routing

Niels Rasmussen, BIMCO’s Chief Shipping Analyst, reports that ship supply is expected to grow on average 10.3% in 2024 and 5.3% in 2025. After increasing in 2024, sailing speeds are expected to reduce in 2025.Attacks on ships in the Red Sea have forced nearly all container ships to sail around the Cape of Good Hope, adding 10% to average sailing distances and ship demand.Re-routing via Cape of Good Hope could impact all of 2024.
Esgian Week 26 Report: Drilling Activity is High

Esgian provides an update on drilling activity in its Week 26 Rig Analytics Market Roundup.Report SummaryContractsVentura Offshore has been granted exclusive marketing rights from Hanwha Drilling LLC for the newbuild 12,000-ft 7th generation drillship, Tidal Action, for an ongoing tender process in Brazil.Transocean has announced a 365-day contract extension for the 12,000-ft drillship Deepwater Asgard with an independent operator in the U.S.
Interferry Calls for CII Fleet-Balancing Mechanism

Interferry Director of Regulatory Affairs Johan Roos has announced that the organization has drafted an alternative compliance mechanism to the CII that will be submitted to MEPC 82, to be held September 30 - October 4.CII is a shipping industry-specific operational efficiency requirement that dictates how much fuel is allowed to be burned per nautical mile in relation to ship type and ship size. “It…
Crew Safe after Incident Southwest of Yemen's Al Mukha

The United Kingdom Maritime Trade Operations (UKMTO) said on Sunday it had received a report of an incident 13 nautical miles southwest of Yemen's Al Mukha, but that the vessel and its crew were safe.An UKMTO advisory note said a merchant vessel had reported being approached by 12 small craft which remained in the vicinity of the vessel for about an hour before leaving the area.The vessel and crew were reported safe, and the vessel is proceeding to its next port of call, the advisory note added.