South Korea's KOMIPO Cancels Plans for LNG Import Terminal
South Korea's Korea Midland Power (KOMIPO) has cancelled plans to build a liquefied natural gas (LNG) import terminal on the western coast of the country due to high costs and declining demand for the fuel.KOMIPO said in a statement to Reuters on Monday that its board had approved the plan to withdraw a LNG terminal construction project in Boryeong on June 28.
Norden Brings Norwegian Dry Bulk Operator Under Its Wing
Norden has entered into an agreement to acquire Norwegian dry bulk operator Norlat Shipping, which specializes in the shipment of forest products and other bulk commodities.The acquisition, whose value was not disclosed, is subject to merger clearance.The acquisition will be Norden's second, following the mid-2023 acquisition of the activities of Thorco Projects, which is today fully integrated into…
Trafigura Acquires Gearbulk's Share of JV Tanker Business
Trafigura Group has completed the acquisition of Gearbulk Holding 50% share in joint venture company High Heat Tankers (HHT) for an undisclosed sum.Aside from the acquisition, Trafigura has committed to a newbuild 17,500 dwt IMO II specialized high heat tanker to be delivered in the third quarter of 2026 from Chengxi Shipyard China to support the expansion of HHT’s services.HHT was established in 2018…
Parkwind Installs Vessels Charging System at Noblewind Offshore Wind Farm
JERA’s Parkwind has installed a vessels charging system, supplied by UK-based MJR Power & Automation, at its Noblewind offshore wind farm in the Belgian North Sea.The boat charging station system at sea has been designed to minimize greenhouse gas emissions from maintenance vessels and promote sustainable operations.This system, operational for the first time at the Nobelwind wind farm, enables vessels to use green…
Ship Recycling Market Continues to Suffer
Indian sub-continent ship recycling markets remain decidedly dicey as both currencies and local steel plate prices in India and Bangladesh declined even further this week, reports cash buyer GMS.“Vessel prices and demand take on a whole new meaning of industrywide suffering, especially with Turkey and Pakistani ship recycling markets still being remanded at the same resort over recent weeks.”The political…
Esgian Week 29 Report: New Drilling Plans in Guyana and Norway
Esgian provides an update on new drilling plans in Guyana and Norway in its Week 29 Rig Analytics Market Roundup.Report SummaryContractsADES has secured a 10-year contract extension for 250-ft jackup Admarine 657 offshore Saudi Arabia, commencing immediately upon the expiration of its current contract term with Saudi Aramco in the third quarter of 2024.Market sources indicate that Arabian Drilling…
AST Networks Expands into NavCom Systems
AST Networks has expanded into the navigation and communication (NavCom) system sector.The move reflects their commitment to providing comprehensive communication solutions that address the evolving needs of the marine industry. By integrating NavCom technologies with its existing suite of maritime IT solutions, AST Networks aims to offer unmatched operational efficiency, safety and compliance for maritime operators worldwide.
One Dead in Maersk Frankfurt Fire
The Panama Maritime Authority (PMA) has reported that one seafarer is dead after the newly built container ship Maersk Frankfurt suffered an explosion that caused a fire while navigating the Arabian Sea near the coast of India.“The ship's operator reports a body in the lashing bridge, but it is impossible to reach it because of the flames. The Indian authorities are focusing their efforts to fight the fire and guarantee the safety of the ship and the crew…
Danish Shipping Welcomes Re-elected Commission President
Ursula von der Leyen has been re-elected as President of the European Commission. Her political manifesto, presented shortly before the election, matches all the priorities of Danish Shipping for 2024-2029.Danish Shipping welcomes her continued prioritizing of the green transition, industrial policy, and competitiveness. Within 100 days, the Commission will present a Clean Industrial Deal aimed at accelerating emission reductions…
Malaysia Coast Guard Locates Tanker Involved in Collision
A tanker that was involved in a collision near Singapore last week entered the area of Malaysia's Bertam floating oil terminal on Monday morning after it was intercepted by local authorities on Sunday, shipping data from LSEG and Kpler showed.The Sao Tome and Principe-flagged supertanker Ceres I left the scene of a fiery collision with another tanker, the Singapore-flagged Hafnia Nile, on Friday.The Ceres I was found in Malaysian waters with two tugboats towing it…
China, Philippines Agree on 'Provisional Arrangement' for South China Sea Resupply Missions
The Philippines and China have "reached an understanding on the provisional arrangement" for resupply missions to a beached Filipino naval ship in the South China Sea, Manila's foreign ministry said in a statement on Sunday.The Department of Foreign Affairs (DFA) did not provide details on the arrangement for the Philippines' resupply missions to the Sierra Madre on the Second Thomas Shoal.But it said…
Russia Conducts Navy Drills in White Sea
Russian warships conducted training drills in the White Sea to convoy and defend a caravan of ships, state-run TASS news agency reported on Sunday, citing the Russian Defence Ministry, in what it said was routine combat training.During the drills two small anti-submarine ships, the Onega and the Naryan-Mar, practised organising combat usage of weapons and radio-electronic warfare equipment in a scenario of a simultaneous attack from air and sea."The day before, the small anti-submarine ships One
Curtin Maritime Names Sandra Grujic CFO
U.S. maritime services company Curtin Maritime announced it has appointed Sandra Grujic as its new chief financial officer and a member of the company's executive leadership team.Grujic brings a wealth of experience to the role, having previously served as a finance and accounting executive at Crowley"We are so excited to welcome Sandra to the Curtin Maritime family," said Martin Curtin, CEO at Curtin Maritime.
Fire Breaks Out On Maersk Containership Off Coast of India
Maersk on Friday said there was a fire incident on one of its chartered vessels sailing from Mundra, off the western coast of India to Colombo, Sri Lanka.The fire started due to a short circuit resulting in explosions and the death of a seaman from Philippines, local media said, adding that there were 21 crew members on board.The vessel is in stable condition, the company said in an emailed statement to Reuters."At the moment…
Rauma Shipyard Launches Second RoPax Ferry for Tasmania
Finnish shipbuilder Rauma Marine Constructions celebrated the launch of the Spirit of Tasmania V, a the second of two new car and passenger ferries for the Tasmanian TT-Line Company.The vessel’s godmother is Her Excellency the Horourable Barbara Baker, Governor of Tasmania.The vessels will operate between Geelong and Devonport on Australia’s Bass Strait, a route known for its challenging sea conditions. The ferries will replace their sister ships built in Finland in the 1990s.
ABB Selected to Provide Propulsion for Washington State Ferries' New Hybrid Vessels
Washington State Ferries (WSF) has tapped ABB to design and supply the propulsion systems for its new series of five hybrid electric ferries. ABB was previously selected for the project in 2020 after the original build contract was awarded to Vigor, but the competitive bid process was relaunched following disagreements between WSF and the shipyard over price and other contract terms.In May of this year, WSF invited shipyards across the country to bid on construction for the five new ferries.
Oil Tankers on Fire After Colliding Close to Singapore, Crew Rescued
Two large oil tankers were on fire on Friday after colliding near Singapore, the world's biggest refuelling port, with two crew members airlifted to hospital and others rescued from life rafts, authorities and one of the tanker operators said.Singapore is Asia's biggest oil-trading hub and the world's largest bunkering port. Its surrounding waters are vital trade waterways between Asia and Europe and…
Hensoldt Reorganizes Into Four Divisions
German defense contractor Hensoldt on Friday announced plans to reorganize into four divisions following in its $728 million acquisition of defense systems integrator ESG Elektroniksystem completed earlier this year.Hensoldt will divide its operations into four divisions focused on its different types of businesses: Radar, Optronics, Multi Domain Solutions, and Services & Training.The company said…
Singapore-Flagged Container Ship Hit by Projectiles in Red Sea
The Maritime and Port Authority of Singapore (MPA) has informed that the Singapore-flagged container vessel LOBIVIA had been struck by unidentified projectiles while transiting the Gulf of Aden.The impact caused the fire onboard, which has been extinguished by the crew.According to MPA, all crew are accounted for and are safe and there are no Singaporeans onboard.LOBIVIA is moving under her own propulsion and has arrived at Berbera Port…
MOL to Invest in Engine Fuel Efficiency Tech Developer
Mitsui O.S.K. Lines (MOL) has set out plans to invest in Carnot, a start-up company that develops technology for highly efficient engines using heat-resistant materials.Carnot is technology start-up developing ways to dramatically increase engine fuel efficiency, while slashing greenhouse gas (GHG) emissions.Steel and aluminum engines require constant cooling to prevent them from overheating, which reduces performance and increases the risk of engine failure.
