GMS: Some Positive Movement for Ship Recyclers
Cash buyer GMS has seen some positive movement in the sub-continent ship recycling market. “While we do not expect tonnage to come flowing into the markets anytime soon, nor do we expect ship recycling prices to go skywards within this time frame, the ship recycling industry did see some positive movements with improving indications breaking cover from India and even Bangladesh this week.”Several bulker and container ship sales were made as the market firmed.
Container Ship Supply and Demand to Tighten
BIMCO has released its Container Shipping Market Overview & Outlook September 2024 with Niels Rasmussen, BIMCO’s Chief Shipping Analyst, highlighting that the disruption caused by ships being rerouted via the Cape of Good Hope remains the key ship demand driver.As a result, ship demand is forecast to grow three times faster than cargo volumes in 2024. Without it, ship supply would have grown faster…
Esgian Week 39 Report: Petrobras Finalizes Roncador Tender
Esgian highlights several new contracts in its Week 39 Rig Analytics Market Roundup.Report SummaryContractsMarket sources indicate that ADNOC has exercised an extension option for the 350-ft jackup drilling rig Aryabhatt 1 in Abu Dhabi.Petrobras has awarded two floating rig contracts to Constellation Oil Services for work at the Roncador field in the Campos Basin offshore Brazil. Valued at $1 billion…
Safety and Communication Failures Led to Fatal Fall
The UK Marine Accident Investigation Branch (MAIB) has published its report into the death of a seafarer on the bulk carrier Equinox Seas whilst the vessel was undergoing scheduled maintenance in a yard.On April 17, 2023, a crewman on board Equinox Seas was fatally injured when he fell 10m down an open ventilation trunk where a fan had been removed for maintenance by the shipyard. The fitter was recovered from the base of the ventilation trunk and moved to a local hospital…
ABS Grants AIP for Ammonia Fuel Retrofit Solution
An ammonia fuel supply system that can be retrofitted to existing vessels or installed on newbuilds has earned approval in principle (AIP) from ABS.The ammonia fuel supply system from Nikkiso Clean Energy & Industrial Gases features high efficiency pumps and an integrated fuel management system.Konstantinos Fakiolas, Director of Marine, Nikkiso Clean Energy & Industrial Gases, said: “Nikkiso’s FSS for ammonia is designed under the principles of redundancy…
Five Navies Drill in South China Sea, So Does China
The armed forces of five countries conducted joint maritime exercises in a portion of the South China Sea on Saturday as China carried out its own military drills in the disputed waterway.The exercises involving the Philippines, United States, Australia, Japan and - for the first time - New Zealand took place in Manila's exclusive economic zone and sought to improve the militaries' interoperability…
Israel Bombs Yemen’s Hodeidah Port
Israel said it bombed Houthi targets in Yemen on Sunday, expanding its confrontation with Iran's allies in the region two days after killing the Hezbollah leader Sayyed Hassan Nasrallah in an escalating conflict in Lebanon.The airstrikes on Yemen's port of Hodeidah were in response to Houthi missile attacks on Israel in recent days, Israel said, amid fears that Middle East fighting could spin out of…
