Ageing Fleet a Problem for the Crude Oil Tanker Market
The crude oil tanker market is grappling with an ageing fleet of vessels which need to be replaced, posing a challenge as shipyards are focused on building other types of ships, a top executive with commodity trader Trafigura said on Tuesday.The crude tanker market, including VLCC supertankers, has remained strong in recent months partly due to longer voyages made by some vessels sailing via southern Africa amid Red Sea attacks by the Houthis, which has tightened availability.In addition, up to
ABS Wavesight Updates Its 'My Digital Fleet' Software
Maritime software company ABS Wavesight on Tuesday announced major updates to its My Digital Fleet software aimed at empowering maritime operators to optimize performance, improve energy efficiency and streamline compliance with decarbonization requirements.The ABS Affiliate maritime software-as-a-service (SaaS) company unveield the updates at the Posidonia trade fair in Athens."We are excited to unveil the latest My Digital Fleet software…
John Okon Named SUNY Maritime President
Rear Admiral John Okon has been named as the next president of SUNY Maritime College, a public maritime college in the Bronx, New York City.Okon, a retired U.S. Navy officer with more than 33 years of naval service, will succeed Rear Admiral Dr. Michael A. Alfultis, who will retire on July 1 after 10 years at the helm. Okon will become SUNY Maritime's 12th campus president."As a SUNY Maritime alumnus…
Panama Canal Eyes Adding New Reservoir to Boost Ship Transits
The Panama Canal is exploring the construction of a new water reservoir that would provide capacity for 11 additional ship crossings, the administrator of the key global waterway said in a statement on Tuesday.The administration is also seeking to make its ship reservation system "more permanent," the statement added.(Reuters - Reporting by Elida Moreno)
ABB Acquires DTN Weather Routing Business for Shipping
ABB Marine & Ports has finalized its acquisition of DTN’s portfolio for weather routing in shipping. The transaction was completed today, following an earlier announcement of an agreement with global data and analytics group DTN to acquire the shipping business of DTN Europe BV and DTN Philippines Inc., on January 24, 2024.The acquisition brings with it advanced routing services, including a selection…
Dutch Subsea Services Newcomer Acquires First Vessel
FreeStar Subsea Services, a Netherlands-based company established by the merger of Vriezoo ROV Services and Mark Offshore, has acquired its first vessel and started operations.The company offers remotely operated vehicle (ROV) and survey support services with its own vessel, the SSV Navicula Star, which was recently acquired the Royal Netherlands Institute for Sea Research (NIOZ).While most mid-sized subsea companies specialize in either vessel or ROV services…
Strategic Marine Delivers Two Offshore Wind CTVs to Mainprize Offshore
Singaporean shipbuilder Strategic Marine has delivered two offshore wind Crew Transfer Vessels (CTVs) to UK-based Mainprize Offshore.The two 27-meter vessels are part of the UK-based CTV owner and operator’s ongoing fleet expansion and will add to its current fleet of 11 vessels.Scheduled for operations in European waters from July 2024 onwards, both vessels will be carrying out crew transfers in Europe.The…
DOF’s Pipelay Support Vessel Hooks Petrobras Job
Norwegian offshore vessel operator DOF Group has secured a ‘major contract’ from Petrobras for its pipelay support vessel (PLSV) Skandi Vitória.DOF secured a three-year firm contract, plus option, for its PLSV Skandi Vitória as part of an ongoing tender process.The contract starts in 2025, according to DOF.The vessel is Brazilian-built and flagged and owned by DOFCON Navegação, a joint venture between DOF Subsea (50%) and TechnipFMC (50%).kandi Vitória is an ROV construction support vessel…
Philippine Military says Troops acted Professionally in South China Sea
The Philippine military on Tuesday rejected Chinese allegations that troops stationed on a warship grounded on a disputed South China Sea shoal had pointed guns at its coast guard, insisting its personnel maintained professional conduct.Philippine troops are governed by rules of engagement and acted with the highest level of professionalism, military spokesperson Francel Margareth Padilla told a press…
Report: Two-thirds of European Green Shipping Fuel Projects at Risk
Two-thirds of European green shipping fuel projects are at risk, a new Transport & Environment (T&E) study shows.T&E’s mapping of green hydrogen projects across Europe shows that nearly 4% of European shipping could run on green e-fuels by 2030. But fuel suppliers appear to be reluctant to commit financially to projects without more guarantees that there will be demand for these fuels in the near future.
Stena Line Using AI for Voyage Optimization
Stena Line has reported a significant reduction in fuel consumption thanks to its strategic use of AI.Through its Voyage Optimization System, optimization of vessel functions can now be done much more efficiently, and this has resulted in a 1-5% reduction in fuel consumption.The system has been tested on crossings between Gothenburg and the Danish port of Frederikshavn, among others. The use of AI…
Methanol Orders Dominate May Orderbook
DNV has released its May figures from the Alternative Fuels Insight (AFI) platform, and according to the latest figures, 33 new orders for alternative fueled vessels were placed in May 2024. Methanol continues to be the biggest driver, accounting for 23 of these vessels. Ten of these are from the container segment, along with five bulk carriers, and four car carriers.LNG continues to lag behind methanol…
ABS 2024 Outlook Highlights Shift in Fleet Composition
According to the latest ABS research, geopolitical instability, scalability of fuel production and retrofits to existing vessels are key factors impacting the shipping industry’s journey to net zero by 2050.The sixth in an annual series, the 2024 Outlook, Beyond the Horizon, Carbon Neutral Fuel Pathways and Transformational Technologies, features an update of ABS’ long-term energy forecast.“The 2024…
World Shipping Council Welcomes New SOLAS Regulations
The World Shipping Council (WSC) has applauded the recent adoption of amendments to SOLAS at MSC 108. Starting January 1, 2026, these amendments will require mandatory reporting of all containers lost at sea, setting a new standard for maritime safety and environmental protection.“The new regulations, specifically amending SOLAS Chapter V Regulations 31 and 32, mark a significant advancement in maritime safety and environmental protection.
South African Appeals Court Throws Lifeline to Shell's Wild Coast Exploration
A South African appeals court on Monday suspended a previous ruling that halted offshore exploration by Shell along the unspoilt Wild Coast and allowed oil companies another chance at public consultation, court documents showed.The lack of public consultation was among key reasons why a lower court ruled against Shell and other oil companies Impact Africa and BG International.In a keenly watched decision…
Maersk Raises 2024 Guidance on Strong Demand
Danish shipping group AP Moeller-Maersk on Monday raised its full-year profit guidance for the second time in a month on the back of strong container market demand and the crisis in the Red Sea.Maersk now expects its underlying earnings before interest, tax, depreciation and amortisation in the range of $7 billion to $9 billion, up from its previous forecast of $4 billion to $6 billion.The company…
Maersk Faces Significant Port Congestion in Asia, Mediterranean
Maersk faces significant terminal congestion in Mediterranean and Asian ports, causing substantial delays in its vessel schedule, the Danish shipping group said in a statement on Monday.As a result of that congestion, the world's second-largest container shipping company, will skip two westbound sailings from China and South Korea that had been planned to depart in early July, it added.The notice from…
Inchcape Shipping Services Acquires Grieg Logistics
Port agency and marine services company Inchcape Shipping Services on Monday announced it has acquired Grieg Logistics AS from the Grieg Group, strengthening its presence in the NordicsUnder the new ownership, Grieg Logistics will continue to operate under the same name for a period and existing management headed by CEO Stig Trygve Andersen.Grieg Logistics operates terminals at Tønsberg, Mosjøen and Skålevik…
Blank Rome Welcomes Maritime Partner Luke Reid
Luke M. Reid has joined Blank Rome as a partner in the firm’s Maritime group and as a member of the Transportation industry team in the Boston office. A former U.S. Coast Guard officer, Reid advises clients in connection with all aspects of international and domestic maritime regulatory compliance, as well as representing maritime clients in connection with government investigations, criminal and civil litigation…
Fluid Watercraft Hires New Government Sales Manager
Commercial rigid inflatable boat builder Fluid Watercraft announced it has hired former marine patrol agent Blake Young as the newest member of its team, taking on government sales management for the U.S. Northeast and Mid-Atlantic regions.Having served as a police officer, deputy sheriff and maritime law enforcement agent developing a wealth of criminal justice experience, Young started his career…