Did You know? Fancy Bear, Cozy Bear, Stately Taurus More Menacing Than They Sound
What drives cyber attackers and what are their main motives for malicious online activities? Who are the most prominent attackers in the maritime industry and how do they do it?According to the report from Marlink’s Security Operations Center on cyber security threats, cyber attackers targeting the maritime industry had a few main motives.Two of the main are operational disruption and financial fraud…
Hapag-Lloyd Raises Outlook on Stronger-than-expected Demand
International shipping company Hapag-Lloyd raised its full-year earnings guidance on Thursday citing stronger-than-expected demand and higher freight rates.Despite increased expenses from the diversion of vessels around the Cape of Good Hope, Hapag-Lloyd says it now expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) for 2024 of between $4.6 billion and $5 billion, up from previous guidance of $3.5 billion to $4.6 billion.However…
OSV 2Q Recap: Entering the Capital Distribution Phase
The OSV sector has concluded its second quarter earnings season, marking another quarter with strong profitability and favorable market conditions. However, negative oil market sentiment, with the Brent price down by 19% since the start of July, has impacted the overall oil services market with the wider PHLX Oil Service Index trading down 4% year-to-date. The OSV sector has returned 5% year-to-date at the time of writing…
"K" Line puts Inmarsat NexusWave to the Test
Later this month Kawasaki Kisen Kaisha, Ltd. (“K” LINE) will conduct a trial of Inmarsat Maritime's new bonded network service NexusWave on “K” LINE's fleet. “In recent years, there has been an increase in data transmission to enhance safety and quality. As such, we require connectivity services that are fast, reliable and global. Furthermore, high-speed internet connectivity will greatly contribute to reforms to onboard workstyles and automated ship navigation…
Two DDW Offshore’s AHTS Vessels Set to Sail for Australia Job
Norwegian offshore vessel owner DDW Offshore, a subsidiary of Akastor, has secured work for two of its anchor handling tug supply (AHTS) vessels with an international oil company offshore Australia.DDW Offshore has secured two one-year contracts, each with a further 24-month priced option structure, for its Skandi Peregrino and Skandi Atlantic AHTS vessels.The vessels will provide anchor handling and towage services in Australia for an unnamed oil company…
Cruise Tourism Expenditure Reaches Record Levels in the Caribbean
The Florida-Caribbean Association (FCCA), a cruise and destination trade group, has announced that the 2023-2024 cruise year brought record economic contributions to the region.According to the study released by Business Research & Economic Advisors (BREA), cruise tourism generated $4.27 billion in direct cruise tourism expenditures, about 27% higher than the record set by the previous study in 2018…
INTERCARGO Elects New Leadership Team
INTERCARGO, the International Association of Dry Cargo Shipowners, has announced significant changes to its leadership following its annual general meeting. The new appointments will take effect from January 1, 2025.In recognition of their distinguished service, Dimitrios Fafalios has been appointed Honorary Chairman following six years as Chairman. Fafalios, President of Fafalios Shipping, has led INTERCARGO through significant developments in the shipping sector since 2019…
Fueltrax Announces Smart Financing Option
Fueltrax has launched a smart financing program designed to help vessel operators take advantage of its electronic fuel management systems without the obstacle of an initial capital investment.Fueltrax has signed an agreement with Malaysia-based Vestera in which the two companies work together to help expedite the installation of the systems. Vestera is a technology-based solutions provider serving…
Illegal Foreign Fishers Have Vessel Destroyed
Nine Indonesian nationals who pleaded guilty to illegally fishing in Australian waters at Darwin Local Court have had their vessel destroyed.On September 19, 2024, Australian authorities apprehended the them as they fished illegally for sea cucumber in the vicinity of Augustus Island, Western Australia.Authorities seized 350 kilograms of sea cucumber worth up to approximately A$30,000 ($20,000 or more…
Did You Know? TOP 5 Vulnerabilities Exploited by Ransomware Groups
Cyber Security in the maritime and offshore energy space has come front and center, with new Cyber Security rules expected soon from the U.S. Coast Guard.How will these new rules impact your bottom line? If you are in New Orleans on November 13, 2024, sign up now for a free lunch and moderated conference discussion on new United States Coast Guard (USCG) cyber security rules and their impact on the vessel owner/operators, OEMs and shipyards. Featured speakers include:Rear Admiral Wayne R.
BRIX Marine Announces Facility Expansion
Boatbuilder BRIX Marine announced the expansion of its manufacturing facility in Port Angeles, Wash.The new facility, spanning over 35,000 square feet will enable BRIX Marine to increase its overall production capacity and expand its product portfolio, the company said. Located along Marine Drive in Port Angeles, the new location will have direct access to the Port Angeles Boat Haven via Marine Travelift.Additionally…
Luerssen, Rheinmetall Among Potential Suitors for Thyssenkrupp Marine Unit
German shipbuilder Luerssen and defence group Rheinmetall RHMG.DE could emerge as potential suitors for the warship division of conglomerate Thyssenkrupp TKAG.DE, two people familiar with the matter said.It comes a day after news that private equity firm CarlyleCG.O had dropped out of the process for Thyssenkrupp Marine Systems (TKMS), in what was a blow to Thyssenkrupp's ongoing restructuring and had weighed on shares.Rheinmetall and Luerssen declined comment.Thyssenkrupp referred to comments m
BAE Systems Wins Contract to Modernize US Navy Warship USS Halsey
BAE Systems announced it late September it has received a $177.8 million contract from the U.S. Navy for the maintenance and modernization of the Arleigh Burke-class guided-missile destroyer USS Halsey (DDG 97). The total value of the previously awarded undefinitized contract award could reach $225.5 million if all options are exercised.Under the Depot Maintenance Period (DMP) contract, BAE Systems’ San Diego shipyard will dry-dock the 509.5-foot-long ship…
Greenland Court Extends Detention for Anti-whaling Activist Watson
Anti-whaling activist Paul Watson will remain in detention in Greenland where he has been held since July while Denmark decides whether to extradite him to Japan, local police said on Wednesday.U.S.-Canadian Watson, 73, founder of the Sea Shepherd conservationist group and of the Captain Paul Watson Foundation, was apprehended by police in the Danish autonomous region when his ship docked at the port of Nuuk on July 21."We continue to fight for the case to be concluded…
Liebherr Delivers Portal Slewing Crane for Cargo Ops at German Port
The Liebherr portal slewing crane of type LPS 600, the first of its kind in Germany, has been delivered J. MÜLLER Weser to enhance its bulk and general cargo operations at the port of Brake.The project marks the first rail-mounted portal crane at the port of Brake, designed for an extended 650-metre travel path in one direction, with features like larger cable drum and video monitoring at the portal…
OSM Thome buys Klaveness Ship Management AS
Torvald Klaveness sold 100% of Klaveness Ship Management AS shares to OSM Thome. Subsidiaries of Klaveness Combination Carriers AS, in parallel, have agreed to enter into new ship management agreements for its fleet with Klaveness Ship Management under ownership of OSM Thome.Additionally, Torvald Klaveness and OSM Thome have agreed to cooperate to explore new ways to modernize ship management through…
Russian Attacks on Ukranian Vessels Pinch Dry Bulk Market
“Since September 2024, five merchant ships have been hit by Russian missiles while in Ukrainian ports or waters. These were the first attacks on merchant ships since November 2023 and they could threaten 1% of the world’s dry bulk exports if safety is not improved. The price of war risk insurance has already increased but the impact on exported volumes has so far been limited,” says Filipe Gouveia…
PERC Pushes for Propane Adoption in Material Handling Applications
In celebration of Clean Energy Month, the Propane Education & Research Council (PERC) has highlighted propane’s role as a clean energy source for material handling applications.Propane produces 52% fewer greenhouse gas emissions than an equivalent amount of U.S. grid electricity, making it a more environmentally friendly choice, according to PERC.Propane is a clean-burning fuel that emits fewer greenhouse…
Viking Orders Two Firm, Four Option Cruise Vessels from Fincantieri
Fincantieri and Viking signed contracts for the construction of two new cruise ships, which will build on the characteristics of previous ships already built in their Italian factories for this shipowner. The ships will be delivered in 2030. The value of the deal, subject to financing and other standard terms and conditions, has been defined as "large", or between 500 million and 1 billion euros.Fincantieri…
Russia Opts for Ship-To-Ship LNG Transfers to Free Up Ice-Class Tankers
Russia plans to arrange ship-to-ship transfers of liquefied natural gas and gas condensate in the Barents and Bering Seas to free up more ice-class tankers for its biggest LNG producer, Novatek, a draft project document showed on Tuesday.Novatek has been pressing ahead with its new Arctic LNG 2 project despite Western sanctions restricting access to the tankers it needs to carry LNG along the Northern Sea Route to Asian markets.
