Maersk Bets on Bio-LNG with Newbuilding Orders
A.P. Moller - Maersk (Maersk) is in the process of signing newbuilding orders and time-charter contracts for LNG dual-fuel container ships.The new orders for 50-60 vessels will match its planned renewal pace of around 160,000 TEU per year.The new orders are a continuation of its fleet renewal program initiated in 2021 which has seen orders placed for 25 methanol dual-fuel vessels, five in service and 20 on order providing around 350…
AMSA Scholarships Promote Diversity in Maritime
The Australian Maritime Safety Authority (AMSA) has awarded five scholarships to students at the University of Tasmania as part of its recognition of the importance of diversity.The funding of A$47,000 is part of its 2024 scholarship program.The recipients are:Tenisha Jones – AMSA Sara Bool Women in Maritime Engineering ScholarshipAngelica Starlight – AMSA First Year Access Scholarship for Maritime…
Have Container Volumes from China to North America Peaked?
Ocean container shipping demand from China to North America and North Europe continued to break records in June, but the latest data from Xeneta indicates it may now have peaked.The June highs came as importers rushed to protect supply chains amid the global disruption caused by conflict in the Red Sea.The latest data, released this week, shows 800,000 TEU were shipped from China to North Europe in June…
Swire Shipping Adds to Hong Kong’s Biofuel Bunkering Credentials
Swire Shipping has successfully completed a sustainable B24 biofuel trial after bunkering a container ship operating on its Sun Chief Express Ocean service in Hong Kong.A collaboration with UWL, the Sun Chief Express Ocean service directly connects Vietnam to the United States and is the fastest in the market, with express connections into the heart of North America and Cambodia, Indonesia and Thailand.MV Suva Chief was bunkered in Hong Kong with sustainable B24 biofuel…
Near-Shore Cable Repair Keeps Wave Energy Testing on Track
US marine services contractor Phoenix International has completed a time-sensitive repair of the 60-meter berth electro-opto-mechanical cable at the Kaneohe Wave Energy Test Site in Hawaii.The dynamic shoreline environment necessitated development of an innovative plan that met the needs of the Ocean Cables and Unmanned Systems Division of the Naval Facilities Engineering and Expeditionary Warfare Center.The Test Site was the first grid connected wave energy test site installed in U.S.
Partners to Develop LNG Terminal on Mexico's West Coast
Energy company GFI LNG and energy infrastructure developer Pilot LNG announced a partnership to develop, construct and operate a small-scale liquefied natural gas (LNG) terminal in Salina Cruz, Mexico.The partners said they plan to commence front-end engineering and design (FEED) development for the project this quarter, followed by a 12-18 month development and permitting timeline and anticipated…
Improved Security Lifts Nigeria's Oil Output
Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), stood at 1.2 million barrels per day in February, Ogalla said. Oil major Shell has exited the country."We have stepped up surveillance and enforcement in the oil producing areas…
Sea1 to Manage Viking Supply Ships' AHTS Fleet
Sweden-based Viking Supply Ships on Tuesday announced plans to outsource the management of its six anchor handling tug supply (AHTS) vessels to Sea1 Offshore, based in Norway.The management agreements are scheduled to be completed in October 2024, subject to final documentation and required approvals, the company said.The six AHTS vessels include Magne Viking, Odin Viking, Loke Viking, Njord Viking, Brage Viking and Andreas Viking, all with ice class notations and built from 2011 through 2013.
Houthis Target Containership, US Warships in Latest Red Sea Attacks
Yemen's Iran-aligned Houthi movement said on Wednesday that it had targeted a ship identified as the Contship Ono in the Red Sea as well as two U.S. destroyers in the adjacent Gulf of Aden.The Houthi air force targeted U.S. destroyer Cole with a number of drones and the U.S.
World's Largest Car Carrier Höegh Aurora Delivered
The lead ship of Höegh Autoliners' Aurora class, Höegh Aurora, was delivered at a naming ceremony at China Merchants Heavy Industry’s (CMHI) shipyard in Jiangsu, China, on Tuesday.The newbuild is the first of 12 Aurora Class vessels being built by CMHI. Featuring 14 decks—including five liftable decks—the ship can carry up to 9,100 CEU, making it the world's largest pure car and truck carrier (PCTC) vessel.
Maersk Anticipates Slower Growth Following Red Sea Crisis Surge
Maersk expects global container shipping growth to slow from a strong start to the year, when customers soaked up goods to prevent them from being held up by Red Sea attacks and other disruptions, it said on Wednesday.The Danish company, viewed as a barometer of world trade, said global container demand increased about 7% year-on-year in the first half of the year, boosted by robust demand from Europe…
Offshore Wind: Inside the Financial Web
Early 2024 saw a group of financial deals that have implications, in a broad sense, for how offshore wind projects may be financed. While offshore wind projects might be thought of as being in the ‘utility finance’ basket, they are ultimately high-risk deals that might better suit the portfolios of ‘infrastructure investment’ which, in recent years, has taken a shift towards tolerating more uncertainty when it comes to cash flows.A 2022 article from consultants McKinsey…
UUV Integration Will Transform Submarine Tactics
For decades, submarines have been the apex predator, roaming the oceans largely unmolested, gathering intelligence, providing a sea-based nuclear deterrent, and conducting clandestine missions with impunity. As such, these versatile and lethal platforms have been highly sought after by navies around the world, and with advancements in underwater propulsion and quieting technologies, it is perhaps more challenging than ever to detect, localize, and track them.
India Tightens Ties to Russian Oil
“During the past three months, India has relied on Russia for 40% of its seaborne crude oil import. Year-to-date, volumes have reached an average of 1.6 million barrels per day (mbpd), an increase of 1000% compared to 2021, before Russia invaded Ukraine,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.The increased import of Russian oil has contributed to a higher average sailing distance for crude oil tankers discharging in India.
Record Exports from Australia’s Pilbara Ports
The Pilbara region of Australia has achieved a record 758.3 million tonnes of exports passing through its ports in the 2023-24 financial year.This marks the fifth consecutive year of record-breaking throughput for Pilbara Ports.The Port of Port Hedland contributed significantly to this achievement with a throughput of 573.6 million tonnes.The commodities exported through Pilbara Ports in 2023-24 were…
Nakilat’s H1 Profit Up By 7%
Qatar Gas Transportation Company (Nakilat) and its group subsidiaries announced their financial results for the first half of the year ended 30 June 2024, with a net profit of QAR 829 million ($227 million) for the first half of the year ended 30 June 2024, an increase of 7% on the corresponding period in 2023.In 2024, Nakilat achieved significant milestones in its fleet expansion project. The company signed contracts to build six advanced gas carriers…
Italy Appoints Commissioner to Tackle Spread of Blue Crab
Italy on Tuesday appointed a special commissioner to tackle the spread of the blue crab, an aggressive species that is preying on local clams and threatening a lucrative part of national food production.Originally from the western Atlantic, blue crabs have proliferated in several locations around the Italian coast, particularly in the Po river delta in the north, where attempts to curb numbers with…
