TORM Buys Eight Secondhand MR Tankers
Danish pure play product tanker company TORM on Monday announced it has entered into an agreement to acquire eight secondhand MR vessels in a $340 million cash and stock deal. TORM did not name the seller.The vessels have all been built by South Korea's Hyundai Mipo Dockyard in 2014 and 2015, and six of the vessels have been fitted with scrubbers. TORM said it expects to take delivery of the vessels during the third and fourth quarters of this year.The purchase price…
US Importers Balk at Return of $10,000 Container Shipping Rate
The cost to ship a standard 40-foot container of toys, auto parts or other goods from Shanghai to New York has jumped to nearly $10,000, fueling frustration among importers and prompting some experts to say the market is in a bubble.The Drewry World Container Index's spot rate for such a shipment hit $9,387 on July 11. That is more than double the rate from February but still below the peak of $16…
ECOsubsea to Scale Up Its Hull Cleaning Solution in Singapore
ECOsubsea has set out plans to build up its hull cleaning solution in the Port of Singapore, after securing a multi-million-dollar growth loan from Innovation Norway.With the growth loan from Innovation Norway, in the amount of $3.26 million (NOK 35 million) ECOsubsea will scale up its hull cleaning solution.The company plans to use its next generation cleaning robots, said to be 10 times faster than traditional solutions…
Fincantieri Launches Another Multipurpose Combat Ship for Italian Navy
Italian shipbuilder Fincantieri has launched the seventh multipurpose combat ship, named Domenico Millelire, at its shipyard in Genova.This vessel is part of the renewal plan of the operational lines of the Italian Navy vessels, approved by the Government and Parliament under the aegis of OCCAR (Organisation Conjointe de Cooperation sur l’Armement, the international organization for cooperation on arms).The 143-meter vessel is a highly flexible ship with the capacity to serve multiple functions…
Cadeler Lines Up OW Turbine Installation Campaign in 2029
Danish offshore wind installation firm Cadeler has signed a preferred supplier agreement to secure vessel capacity with an undisclosed client, to transport and install offshore wind turbines.The installation campaign is due to commence in 2029 for an undisclosed client and project.tThe effectiveness of the agreement is contingent upon the client’s success in a future auction, Cadeler noted.In May,…
Prysmian’s Monna Lisa Reaches Norway (Video)
Prysmian's Monna Lisa vessel, being build by Vard, has reached Norway for final outfitting, installation of main mission equipment and trials, before becoming fully operational in 2025.The 171-meter-long cable laying vessel (CLV) arrived to Norway after travelling 4,000 nautical miles around Europe for 28 days, following its launch at Vard’s shipyard in Tulcea Romania.The vessel was towed down the Danube River…
GMS: Ship Recycling Faces Negative Pressures
The anticipated / ongoing seasonal slowdown in activity coupled with softening vessel prices has clearly started to characterize the year’s summer / monsoon mess across the Indian sub-continent ship recycling markets, reports cash buyer GMS.“However, the 2024 version not only includes the incessant rains and a holiday-time for yard workers, but also ongoing global descent via boots on the ground warfare…
Report: Preparing Tankers for Conversion to Green Fuels
The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping has published a technical, environmental, and techno-economic analysis of the impacts of preparation and conversion of tankers for green fuels.Using insights from project partners, the project aimed to understand the technical requirements and cost of converting from fuel oil to methanol or ammonia and from NG to ammonia.The report considered reference designs for two types of tanker vessels: LR2 and VLCC.
Esgian Week 28 Report: Rig Activity Robust
Esgian provides an update on rig activity and discoveries in its Week 28 Rig Analytics Market Roundup.Report SummaryDrilling Activity and DiscoveriesThe Norwegian Ocean Industry Authority (Havtil) has given Equinor consent for exploration drilling in blocks 32/4 and 32/7 in the North Sea.Operator LLOG Exploration Company is currently drilling its fifth well at the Buckskin field in the US GOM.Equinor and its partners Petoro…
Houthis Conduct Military Operations in Gulf of Aden, Israel's Eilat
Yemen's Houthis said on Sunday they had conducted two military operations, one in the Gulf of Aden and one in Eilat at the southern tip of Israel.Houthi military spokesperson Yahya Saree said the group had targeted the Israeli ship MSC UNIFIC in the Gulf of Aden with ballistic missiles and drones in addition to attacking military targets in Eilat with drones.The spokesperson said that the latest Houthi military operations came in response to the Israeli airstrike on Khan Younis on Saturday…
Hydrogen-powered Ferry Sea Change Set to Enter Service
The first-of-its-kind hydrogen-fueled ferry Sea Change will soon begin public service, providing zero-emissions transport for passengers in San Francisco Bay.The groundbreaking commercial passenger vessel is the world’s first powered 100% by zero-emission hydrogen fuel cells. It was developed by owner SWITCH Maritime with grant support from the California Air Resources Board (CARB) as a solution to…
Italy's New FLNG Terminal to Be Operational by March 2025
Italy's gas grid group Snam SRG.MI said on Friday it expected a new liquefied natural gas (LNG) terminal to become operational by March 2025, allowing the country to diversify further its energy supplies.The floating terminal in the Adriatic sea will have an annual regasification potential of 5 billion cubic metres (bcm), bringing Italy's total capacity to 28 bcm a year, or 45% of the country's gas demand in 2023.The set up of the regasification unit dubbed BW Singapore, which envisages the buil
Kitsap Transit to Leverage ioCurrents' Fleet Optimization Tech
Kitsap Transit has tapped SaaS company ioCurrents to help drive efficiency gains across its ferry fleet in Washington state.ioCurrents' proprietary software, MarineInsight, employs machine learning models to provide real-time, analyzed, actionable data to shoreside operations. By utilizing an IoT device (nonstandard computing hardware) on board, MarineInsight effectively sends the compressed, analyzed data to a secure cloud…
California Ferry Operator AITF Moves to Electrify Its Fleet in CARB-backed Project
Angel Island Tiburon Ferry (AITF), in California, has tapped New-Zealand-based EV Maritime to design a plug-in hybrid electric vessel for its fleet in the San Francisco Bay Area. The project, which will also see the electrification of two existing AITF vessels, has been funded by the California Air Resources Board (CARB). The hybrid ferry will be designed and engineered by EV Maritime with electrical integration provided by ZeroMar…
LNG Exports from Russia's Yamal LNG Slowing
Exports of liquefied natural gas (LNG) from Russia's Yamal LNG plant have slowed slightly in July so far compared with the same period a year due to a longer wait for vessels to offload the fuel in Europe, ship-tracking data from LSEG showed on Thursday.The exports have slowed down amid maintenance at the French terminal of Montoir-de-Bretagne, which receives cargoes from Yamal LNG.According to LSEG, eight tankers departed from the port of Sabetta in the Arctic Yamal peninsular in July 1-12, com
New AAL Heavy Lift Vessel Set for Maiden Voyage
AAL Hamburg, the second of eight Super B-Class heavy lift series being built for AAL Shipping has been named during a formal ceremony at the CSSC Huangpu-Wenchong Shipyard in Guangzhou, China. The newbuild will soon be delivered and commence a busy maiden voyage to Europe.The 32,000 dwt, dual fuel multipurpose heavy lift vessel is equipped with three heavy lift port side cranes (350 tonnes capacity each and 700 tonnes maximum lift) as well as the latest innovation from the AAL Engineering Team…
ABS to Class Seatrium-built FPSO Pair for Petrobras
Singaporean rig- and shipbuilder Seatrium has tapped the American Bureau of Shipping (ABS) to class a pair of floating production storage and offloading units (FPSO) being built for Brazil's state-owned Petrobras, the classification society announced. Slated for delivery in 2029, the FPSOs P-84 and P-85 will be deployed in the Atapu and Sépia fields, located in the eastern part of the Santos Basin, approximately 200 kilometers offshore of Rio de Janeiro in Brazil.
Gemini Alliance Held Up by FMC Probe
A global operational alliance between two of the world’s largest container shipping companies will not go into effect next week as planned following a move by the U.S. Federal Maritime Commission to study the potential competitive impacts of the arrangement.The FMC said on Friday it is seeking more information to determine the potential competitive impacts of the proposed Gemini Cooperation Agreement…
Tuco Marine Delivers New Vessel to Albatros Arctic Circle
Albatros Arctic Circle ApS has taken delivery of a new ProZero 13.5m Arctic Workboat from Tuco Marine / ProZero Workboats. This vessel, built on the ProZero hull concept, is designed to operate in the cold Greenlandic waters and is approved by the Danish Maritime Authority to transport up to 12 passengers according to the specific regulations for Greenland and Arctic operations.The new boat is tailored for day trips and whale watching…
Merchant Vessel Reports Explosions Near Yemen
British security firm Ambrey said early on Friday that a merchant vessel reported two explosions about 21 nautical miles (39 km) west of Yemen's Mocha.One "missile" impacted the water and another exploded in the air, the vessel reported to Ambrey, adding that both explosions occurred within 0.5 nautical miles of the vessel."The vessel was withholding its automatic identification system transmissions at the time.
