Global Freight Rises But Shows Signs of Weakness in US
Global manufacturing activity and freight are showing signs of a recovery, after a downturn took hold in the second half of 2022 and lasted for most of 2023, which could support petroleum consumption and prices later in 2024.But indicators from the United States have been more mixed and manufacturers there may struggle until the central bank starts to cut interest rates to stimulate consumption of…
KVH Inks Pooled Data Deal with Starlink
KVH Industries, Inc. announced an expanded relationship with Starlink through a newly signed bulk data distribution agreement. The agreement offers KVH increased flexibility in the development and sales of custom, cost-effective airtime plans using Starlink’s mobile priority service. Under the agreement, KVH prepaid for access to a large block of Starlink data at favorable rates over a period of more than a year.
Houthis Say They Targeted Ship in Haifa Port with Islamic Resistance in Iraq
Yemen's Houthis said on Wednesday they targeted a ship in Israel's Haifa port with a number of drones in a joint military operation with the Islamic Resistance in Iraq.The operation targeted the Portuguese-flagged container ship MSC Manzanillo, the Iran-aligned Houthi group's military spokesman Yahya Saree said in a televised speech on Wednesday.The Israeli military is not aware of any such incident…
Hapag-Lloyd and ZeroNorth Team Up on Bunker Procurement
A new partnership between container carrier Hapag-Lloyd and tech company ZeroNorth will aim to develop and launch a new bunker procurement and planning solution for the maritime industry.The partners said on Wednesday that they will set out to create a new digital solution that enables Hapag-Lloyd to effectively navigate the energy transition, reduce fuel spend, and cut cost to serve.Jan Christensen…
Western Bulk Taps Frantsen to Head North Atlantic Desk
Western Bulk announced Joachim Frantsen has been appointed as the new Head of our North Atlantic desk effective September 1st, succeeding Torbjorn Gjervik who has been promoted to Group CEO.Frantsen has more than 20 years’ experience from chartering and dry bulk and has previously been Head of our Black Sea and Mediterranean/Steel team. He joined Western Bulk as a chartering manager in January 2017…
Belships Continues Fleet Expansion
Norwegian dry bulk shipowner Belships announced further expansion of its Ultramax fleet through a pair of vessel acquisitions and newbuild orders.The company said on Wednesday it has declared an option to purchase the bulk carrier Belmar for $25.5 million. The vessel, which has been leased since its delivery as a newbuilding in 2021, will be taken over in Q4 2024. Belships said it will finance the acquisition using its available cash.In addition…
Panama Canal Boosts Ship Depth, Crossings After Rains
The Panama Canal authority said on Wednesday that recent rains boosted water levels, allowing heavier ships with larger cargo loads to transit the canal's Neopanamax locks.The maximum ship depth for the key global waterway will be set at 47 feet (14.33 m) effective immediately, and on July 11, will deepen to 48 feet (14.63 m), the canal authority said in an advisory to clients.The authority also opened up another transit slot for Neopanamax ships for booking dates after Aug.
US Crude Imports Touch Two-year High Despite Lukewarm Demand
U.S. crude oil imports last month rose to a nearly two-year high as refiners scooped up heavy crudes from Canada and Latin America to process into fuels for summer driving season.Imports of crude oil rose to 3.1 million barrels per day (bpd) in May, the highest since July 2022, data from ship tracking service Kpler showed. Imports so far this month have remained strong, at around 2.9 million bpd to…
Sovcomflot Says Its Ship Rescued Crew from Tanker Off Yemen
A ship operated by Russian shipping group Sovcomflot rescued the crew of a tanker taking in water off Yemen's coast this week, the state-owned company, which is under Western sanctions, said on Wednesday.Sovcomflot tanker NS Africa was sailing southeast of the port of Nishtun in southern Yemen on June 23 when it responded to a distress call by the Lavant tanker whose crew had abandoned ship and were in a life raft in the open sea."At 1410 local time, the crew of the tanker NS Africa ...
Acta Marine’s CSOV Newbuild to Sail Under French Flag
Dutch offshore vessel owner Acta Marine has announced the expansion into French maritime and offshore energy market with the newbuild construction service operations vessel (CSOV) named Acta Pegasus.The fourth vessel in Acta Marine’s fleet, currently under construction in Turkey, will fly the French flag, showcasing the company’s commitment to the French maritime industry and the intention to further strengthen its foothold in France.The CSOV, named Acta Pegasus, is of Ulstein SX216 design, and
Does an OSV Newbuild Boom Loom?
The market for offshore support vessels has experienced tremendous development in the last couple of years. And while we expect the market to continue its positive journey, we would argue that, at least on an overall basis, the market has already recovered to healthy levels at the time of writing.There are solid underlying fundamentals that are driving the increased vessel demand, chief among them is the increased offshore upstream investment on a global level.
Solstad’s Subsea Construction Vessel Gets Long-Term Assignment from Prysmian
Norwegian offshore vessel owner Solstad Offshore has signed a five-year contract for its subsea construction support vessel (CSV) Normand Ocean with Prysmian Powerlink.With the contract, the vessel will be on a firm contract with Prysmian until 2032, with an additional two-year option.Prysmian has contracted the CSV Normand Ocean to support the installation of power cable systems on the company's global…
Venture Global Launches First LNG Vessel from Planned Nine-Strong Fleet
U.S. liquefied natural gas (LNG) exporter Venture Global has launched its first LNG vessel, the Venture Gator, at the Samsung Heavy Industries shipyard in Geoji-si, South Korea.The Venture Gator is the first of nine LNG carriers in the Venture Global fleet to be completed in quick succession across three shipyards in South Korea over the coming 24 months, which will transport LNG from the U.S. to multiple…
NYK Signs MoU with Pertamina
NYK and PT Pertamina International Shipping (PIS), a marine logistics subsidiary of PT Pertamina, a state-owned oil and gas company in Indonesia, have signed a memorandum of understanding (MoU) to collaborate in the field of liquefied carbon dioxide (LCO2) and LNG. They will also jointly establish a ship-management company.NYK and PIS have agreed to collaborate in obtaining business opportunities through…
OGCI Partners with GCMD on Decarbonization
The Oil and Gas Climate Initiative (OGCI) and the Global Centre for Maritime Decarbonisation (GCMD) have announced a two-year coalition partnership agreement to work on a range of solutions to decarbonize the shipping industry.Areas of collaboration will focus on energy efficiency to reduce emissions, future fuels that are lower in carbon intensity, such as ammonia, methanol and biofuel blends, and…
Petition Against Re-Starting Live Export Reaches NZ Parliament
A petition signed by over 50,000 people has been accepted by New Zealand MP Damian O’Connor.O’Connor is the former agriculture minister who led the establishment of the ban in April last year, while still in government.The current government has indicated that it would bring back live exports if stock were shipped on custom-built vessels, which it claims would be better for the animals and safer for the crew.The petition was led by John Hellstrom (retired veterinarian…
Singapore Port Congestion Shows Global Impact of Red Sea Attacks
Congestion at Singapore's container port is at its worst since the COVID-19 pandemic, a sign of how prolonged vessel re-routing to avoid Red Sea attacks has disrupted global ocean shipping - with bottlenecks also appearing in other Asian and European ports.Retailers, manufacturers and other industries that rely on massive box ships are again battling surging rates, port backups and shortages of empty containers…
Carsten Rehder Orders New Ships from Garden Reach Shipbuilders
German shipowner Carsten Rehder announced it has signed an agreement with Indian shipbuilder Garden Reach Shipbuilders & Engineers Ltd. for the construction of 4+4 CORAL 7500 Multipurpose Dry Cargo Vessels.The CORAL7500 design by SEDS is optimized for the European short-sea trade, with high cargo flexibility and readiness for the future energy transition, Carsten Rehder said.The single cargo hold has been maximized for about 400.00-cubic-feet capacity and can be segregated with two bulkheads.
Crowley Christens the US' First Electric Tug eWolf
Crowley on Tuesday christened its new vessel, eWolf, the first all-electric ship assist tugboat in the United States.Set to enter commercial service at the Port of San Diego this week, the 82-foot tug was built by Coden, Ala. shipbuilder Master Boat Builders and designed by Crowley’s engineering services team to operate on full electric power, producing zero carbon emissions and 70-ton bollard pull…
Venezuela Resorts to Dark Fleet to Supply Oil to Cuba
Venezuela's state oil company PDVSA has begun using tankers that navigate off radar to supply its closest political ally, Cuba, as a fleet of state-owned vessels that have historically covered the route dwindles, according to documents and ship monitoring services.Cuba and its main oil supplier, Venezuela, for over a decade had exclusively used their own tankers to navigate between the two countries.Delayed maintenance…
