AKOFS Offshore Secures $300M for Well Intervention Vessel’s Work with Equinor
Equinor has exercised a three-year option for AKOFS Offshore’s well intervention vessel AKOFS Seafarer.The option period is estimated to start in late fourth quarter of 2025, after the vessel has completed its customary Special Periodic Survey (SPS) and in direct continuation of the current contract period.The option period has a total value of about $300 million and means that the vessel will perform…
Nordic Shipping Roadmap Urges Govs to Close Fuel Transition Cost Gaps
The Nordic Roadmap project has unveiled the Fuel Transition Roadmap for Nordic Shipping, a comprehensive document outlining a decarbonization strategy for the region, which urges the Nordic ministers to close the cost gap associated with the fuel transition.The roadmap has been developed by the project team led by DNV with members from MAN Energy Solutions, IVL Swedish Environmental Research Institute…
ONE Acquires Terminal in Southeast Asia
Japanese shipping company Ocean Network Express (ONE) has completed the acquisition of a minority stake in New Priok Container Terminal One (NPCT1) in Jakarta, Indonesia.NPCT1 is an important terminal serving mature gateway markets in Southeast Asia. Built in 2016, it has an annual capacity of 1.5 million TEU and can accommodate advanced mega containerships with its deep drafts and modern equipment.Jakarta is ONE’s third-largest volume port in Southeast Asia.
INSIGHTS: Sweden’s Alternative Fuel Development Faces Wider Market Hurdles
Despite becoming a major developer of alternative fuels for the maritime sector, Sweden is facing limited access to the wider European market. Nils Igelström, Managing Director of GAC Sweden, discusses the need for greater clarity to prevent shipping’s energy transition stalling.Sweden is in a very strong position to support the maritime sector’s alternative fuel development. Tied closely to the country’s own goal of reaching net zero by 2045…
Pakistan Pushes Qatar LNG Contract with Qatar for a Year
Pakistan has deferred its liquefied natural gas (LNG) contract with Qatar for a year, Petroleum Minister Musadik Malik said, adding that the country will now get LNG cargoes from Qatar in 2026 instead of 2025.Annual power use in Pakistan, which gets over a third of its electricity from natural gas, has declined 8-10% year-on-year over the past three quarters, the country's power minister told Reuters in November, primarily due to higher tariffs curbing household consumption.The South Asian natio
Philippines and China Dispute Over South China Sea Incident Escalates
China and the Philippines gave conflicting versions on Wednesday of a maritime confrontation around a contested shoal in the South China Sea, the latest row in a longstanding dispute between the neighbours.Chinese coast guard vessels fired water cannons and side-swiped a Manila fisheries bureau boat on the way to deliver supplies to Filipino fishermen in the area, according to Philippines officials…
Construction Starts on Second Finnish Patrol Vessel
The Baltic Sea has become a flashpoint for a multitude of maritime security issues, a driver for the Finnish Border Guard to renew its fleet.The completion of the two new patrol vessels ordered from Meyer Turku by the Finnish Border Guard is progressing, an on December 3, 2024, production was started of the second ship, planned for delivery in 2026.A start of production ceremony was held at the Baltic Operator shipyard in Gdansk.
Fortress’ FTAI Sells Two Offshore Energy Vessels for $143M
FTAI Aviation, part of Fortress Transportation and Infrastructure Investors, has sold two of its remaining offshore energy vessels for approximately $143 million.FTAI Aviation sold the Pioneer DP2 subsea support vessel and the Pride DP3 offshore well intervention vessel to an unnamed customer.The M/V Pioneer, built in 2011, is a DNV classed vessel fully SPS compliant, with an overall length of 82 meters…
Wheat Export Tariffs Likely to Slow Shipments from Russia
“Between January and November 2024, Russian seaborne dry bulk exports have decreased 5% y/y, driven by a 10% y/y decrease in coal shipments. The price competitiveness of Russian coal has deteriorated, compared to Mongolian, Indonesian and Australian cargoes, and a gradual increase in exports over land to China has also contributed to this decline,” says Filipe Gouveia, Shipping Analyst at BIMCO.So far this year, wheat and fertilizer shipments from Russia rose 6% and 7% y/y respectively.
HullWiper, Unidive Subsea to Deliver ROV Hull Cleaning Services in Singapore
HullWiper has signed a lease agreement with Unidive Subsea to bring its eco-friendly Remotely Operated Vehicle (ROV) hull cleaning technology to PSA terminals, Seatrium Yards and Singapore’s inner anchorages.Plans are also in place to expand services to FPSOs, FSOs and semi-submersibles under contracts with regional oil and gas companies.Unidive Subsea provides diving and ROV services, supporting leading oil and drilling companies in Singapore.In partnership with HullWiper…
NYK Granted AiP for Long-Distance Cable-Laying Vessel Design
NYK has obtained Approval in Principle (AiP) from ClassNK for the design concept of a cable-laying vessel for the construction of a long-distance subsea DC transmission network in Japan.Since suitable locations for wind-power generation, such as Hokkaido, are far from areas of major electricity demand, developing a power transmission network is crucial to increasing the amount of renewable electricity…
Philippine Says China "Aggressive" Near Scarborough Shoal
The Philippine Coast Guard (PCG) said Chinese navy and coast guard vessels had taken "aggressive actions" against a routine patrol by it and the fisheries bureau near the contested Scarborough Shoal in the South China Sea on Wednesday.A Chinese coastguard fired a water cannon at a PCG vessel "aiming directly at the vessel's navigational antennas", Jay Tarriela, PCG spokesperson for the South China Sea, said in a statement.Philippine vessels also faced "blocking, shadowing, and dangerous manoeuvr
San Antonio Terminal Int'l concession extended until 2030
Empresa Portuaria San Antonio (EPSA) filed a Material Event with the Financial Market Commission (CMF), informing that San Antonio Terminal Internacional (STI) had met the investment conditions agreed in 2020 and, therefore, its concession will be extended until January 1, 2030 (the second extension since the concession originally ended in 2020).“In recent years we have implemented an intensive capex plan, investing US$66 million, of which US$47 million was to extend the concession.
DFDS Wins Jersey Ferry Services Bid
DFDS was selected as the preferred bidder to take on the 15-year contract to provide ferry life-line freight service and passenger services to Jersey of the Channel Islands from March 28, 2025.
Tanker, Tugboat Crews receive 2024 IMO Bravery Award
The 2024 IMO Award for Exceptional Bravery at Sea has been presented to two sets of nominees: the Captain and crew of the oil tanker Marlin Luanda, for containing a fire after the ship was struck by an uncrewed aerial device; and the Captain and crew of the tugboat Pemex Maya, for their rescue of six shipwrecked persons from four different vessels, during a hurricane.They received the medals and certificates during the annual IMO Awards Ceremony, held in London on 2 December 2024.
BOEM Okays Maryland Offshore Wind Plans
The Bureau of Ocean Energy Management (BOEM) has announced its approval of the Construction and Operations Plan for the Maryland Offshore Wind project.This is the final approval needed for the project from BOEM following the Department of the Interior’s September 2024 Record of Decision. This significant milestone advances the Biden-Harris administration’s goal of deploying 30 gigawatts of offshore…
MPT Welcomes Dr. Crystal Allen Craft as VP, Academic Affairs
MPT announced the addition of Dr. Crystal Allen Craft as Vice Principal of Academic Affairs. Dr. Craft brings extensive maritime, engineering, and leadership history to this role, contributing to MPT’s position as the U.S.’s largest private maritime training school.Dr. Craft began her professional career at New York Maritime College (SUNY), earning a dual degree in engineering and humanities in 2001.
Pioneering Hydrogen-Powered River Vessel in France
Marking a groundbreaking milestone in sustainable transport, the Sogestran Group launched the ZULU 06, France's first hydrogen-powered river vessel, on the Seine in Paris today.Valérie Bouillon-Delporte, Executive Director of the Clean Hydrogen Partnership, was the vessel’s godmother: “The successful integration of fuel cells into the riverboat ZULU 06, soon to operate commercially in the heart of Paris, marks a significant technical and regulatory milestone.
Poten & Partners addresses Rising LNG Terminal Costs
Rising costs of building and equipping new U.S. liquefied natural gas plants will reduce the competitiveness of U.S. gas exports, LNG analysts at Poten & Partners predicted on Tuesday.The Biden administration's export permitting pause likely will keep global LNG prices higher for longer, and benefit existing exporters, Poten said at its Global LNG Outlook conference.Jason Feer, Poten's business intelligence chief, also said that for the firms proposing new export plants along the U.S.
US Deepens Sanctions on Iran's 'shadow' Tankers
The Biden administration on Tuesday ramped up its sanctions on Iran, targeting 35 entities and vessels that it said transported illicit Iranian petroleum to foreign markets as part of what the U.S. Treasury Department called Tehran's "shadow fleet."The sanctions build on those previously imposed on Oct. 11 and come in response to Iran's Oct. 1 attack on Israel and to its announced nuclear escalations, the U.S.
