MSC Container Ship Sets Panama Canal Record
The MSC Marie transited through the Panama Canal on August 30, setting a new record for the largest-capacity container ship to sail the route.The 366-meter (1,200 feet) Neopanamax ship has a width of 51 meters (167.4 feet) and a maximum capacity of 17,640 TEUs.The record was previously held by the Ever Max which made the transit at a capacity of 17,312 TEUs in August 2023.The MSC Marie sailed from the port of Manzanillo in Mexico.
MSI: Iron Ore Market is Flashing Warning Signs
In its August HORIZON Dry Bulk month report, Maritime Strategies International states that against potential optimism from lower interest rates to come, price action in the iron ore market has been flashing warning signs. Prices have dropped about 10% since the start of the month and are now 30% lower than at the start of the year.With the freight market highly leveraged to iron ore flows (the largest dry bulk commodity), the response by suppliers will be critical.
Ship Recycling: Vessel Offerings Have Declined
Action in the Middle East, including a repeat Houthi attack on container vessel Groton in the Red Sea, has increased volatility in the region, and the already slim pickings of tonnage for recycling only got worse through August, reports cash buyer GMS.“The desperate question unraveling in everyone’s mind is whether this is expected to be the case through 2024 / early 2025? Interestingly, even though…
ABS Opens Office in World’s Largest Iron Ore Export Town
ABS is expanding its footprint in Western Australia, establishing a physical presence in Port Hedland, a key trading zone for dry bulk minerals in the Eastern Hemisphere. The new site joins other ABS locations in Perth, Cairns, Brisbane, Sydney and Melbourne.Port Hedland, the world’s largest iron ore export port, is located within the Pilbara region in northwest Australia. The area is making substantial investments to support the energy transition to meet net-zero emissions goals.
Study: Compressed Hydrogen Beats Ammonia on Capital and Energy Efficiency
Provaris Energy has completed a study for bulk-scale hydrogen export and import compression facilities that it says confirms the viability the low energy use and low capital of Provaris’ compressed hydrogen supply chain for regional marine transport of hydrogen in gaseous form.The study, the fourth in a series of techno-economic studies developed by Provaris, was based on a 540MW capacity reservation export site…
Esgian Week 35 Report: Petronas Plans Return to Mexico
Esgian provides an update on plans for Petronas to return to the deep waters off Mexico in its Week 35 Rig Analytics Market Roundup.Report SummaryContractsMalaysia's Velesto said Monday it has secured a Letter of Award for its 350-ft jackup Naga 3 from Vietnam-based Thang Long Joint Operating Company (TLJOC).Dolphin Drilling’s Letter of Intent (LoI) with an undisclosed operator in the UK for its 1…
Voluntary EV Fire Prevention Measures Earn ClassNK Certification
Mitsui O.S.K. Lines (MOL) has been granted certification for its voluntary efforts to improve fire prevention on the car carrier Cerulean Ace.The LNG-fueled vessel is operated by MOL and managed by MOL Ship Management. It has been granted certification for "Additional Fire-Fighting measures for Vehicle Carrier (AFVC)" by ClassNK for measures that prevent onboard fires during the transport of electric…
