Panama Canal Defies Drought: Net Income Surges to $3.45 Billion
The Panama Canal's profit increased about 9.5% in the fiscal year ended in September to $3.45 billion despite a severe drought that reduced the number of vessels that passed through the waterway, its authority said on Friday.Adverse weather conditions that reduced water available for the canal to operate forced the authority to cut the number of ships authorized to pass per day between late 2023 and early 2024…
US East Coast, Gulf Coast Port Workers Union to Resume Contract Talks in November
The union representing 45,000 East Coast and Gulf Coast dockworkers and a group representing employers will resume negotiations next month toward reaching a new six-year contract ahead of a Jan. 15 deadline, they said on Friday.The International Longshoremen's Association union agreed to end a three-day strike on Oct. 3 after it won agreement for a 62% wage hike over six years with the United States…
OOCL to Charter Six New Containerships from Seaspan
Orient Overseas Container Lines (OOCL) announced it has entered into charter agreements with Seaspan, to charter six brand new 13,000 TEU container vessels for a maximum aggregate amount of RMB 11.2 billion. The expected delivery of these vessels is from the fourth quarter of 2026 to the first quarter of 2028 and is to be chartered for 15 years from delivery."OOCL has been continuously assessing the global economic situation…
US Judge Approves Shipping Companies' Settlement with DOJ Over Baltimore Bridge Collapse
A U.S. judge approved on Friday a $102 million settlement by the companies that owned and operated the ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people.The payment, approved by U.S. District Judge James Bredar, resolves the U.S. government's claims after the Justice Department filed a civil claim in September seeking $103 million from two Singaporean companies, Grace…
Naming Ceremony Held for Great Lakes' New Hopper Dredge Galveston Island
Great Lakes Dredge & Dock Company on Friday held a naming ceremony for its new hopper dredge, Galveston Island.The newbuild is the first of two new 6,500-cubic-yard-capacity trailing suction hopper dredges (TSHD) being built by Conrad Shipyard for the United States' largest dredging contactor.The dredge is equipped with a direct high-power pump-ashore installation, dredging system automation, dynamic positioning and tracking, U.S.
Sorenson Joins St. Johns Ship Building in VP Role
St. Johns Ship Building announced it has appointed Jim Sorenson as vice president of government sales. Sorenson will spearhead all government-related sales efforts at the Palatka, Fla.-based shipyard and report directly to Joe Rella, president of St. Johns Ship Building.With over 20 years of experience in the maritime industry, Sorenson brings a wealth of expertise in government and commercial sales, project management and customer relations.
Solstad Offshore Scoops $54M in New Vessel Contracts in Brazil
Norwegian offshore vessel owner Solstad Offshore has secured multiple contract awards with clients in Brazil for two of its anchor handling tug supply (AHTS) vessels and one construction support vessel (CSV).Solstad’s Normand Topazio and Normand Turmalina AHTS vessels have been awarded one-year contracts each, starting in October and November 2024, respectively. Both awards are in direct continuation of current contracts.Also…
Did You Know? Maritime Infostealer Incidents See Significant Rise in 2024
In the first half of 2024, the volume of cybersecurity incidents involving infostealers has increased significantly, and maritime victims have been no exception.Infostealers are a type of malware designed to steal sensitive information from an infected system, such as login credentials, financial data, browser history, and other personal or corporate information.The maritime industry relies heavily on interconnected systems and digital platforms to manage logistics…
Sofia Offshore Wind Farm Construction Well Underway
Van Oord has installed over a quarter of the foundations which will support Sofia offshore wind farm’s 100 wind turbines in the North Sea since the start of operations in May.The Dutch contractor Van Oord is using the Port of Tyne’s Clean Energy Park as a storage and marshalling base, benefitting from direct access to its deep-water quay and connection to the North Sea.The port has been welcoming the tallest offshore installation vessel in its history, the Aeolus.
