Dry Bulk Newbuild Contracting Falls 34%
“During the first half of 2024, newbuild contracting in the dry bulk sector fell 34.2% y/y despite favourable market conditions. A 6.5% y/y increase in prices could be deterring contracting, yet in the second-hand market, where prices rose 15.2% y/y, the number of sales still increased 11.7% y/y. Other factors, such as limited shipyard availability and uncertainty on fuels and demand outlook could be contributing to this hesitation…
NYK Acquires Multiple Segments of ENEOS Ocean’s Shipping Business
NYK and ENEOS Ocean Corporation have agreed to NYK’s acquisition of 80% of the shares of a new company to be established by ENEOS Ocean Corporation. The new company will take over ENEOS Ocean's shipping business through an absorption-type company split that will include the company’s LPG carriers, chemical tankers, product tankers, and dry bulk carriers.The demerger will not include ENEOS Ocean’s crude oil tanker business.The new company will operate 49 vessels…
Santos Indicates Growth Projects are Progressing Well Despite Q2 Revenue Dip
Santos said on Thursday growth projects were making good progress, with flagship Barossa natural gas development now 77% complete as Australia's second-largest fossil fuel producer makes attempts to speed up its ambitious forward strategy.Barossa in offshore Australia has faced criticism and opposition, with the company having to fight regulators and litigations which might potentially delay the project's start in 2025.Santos cannot resume production at Darwin LNG operations…
Mayor of Russia's Novorossiisk Port Issues Sea Drone Alert
The mayor of the Russian Black Sea port city of Novorossiisk issued a sea drone alert on Thursday morning, he said on the Telegram messaging app.Mayor Andrei Kravchenko urged locals to stay away from the shoreline. Ukrainian sea drones have in the past attacked Russian ships near the port, disrupting traffic.Novorossiisk is Russia's largest Black Sea port and a key outlet for crude oil and oil product exports in Russia's south.
Ottomotive Tech Joins the Maritime Battery Forum
Ottomotive Tech has joined the global community of maritime battery enablers, the Maritime Battery Forum.Founded in 2021, Ottomotive Tech gives support for products, engineering and consultancy in different sectors such as maritime, automotive, telecommunication and energy storage systems. The company’s expertise comprises of system engineering from scratch to pre-serial production, followed by production, test, homologation and delivery processes of requested products.
Ports of Indiana, Port of Antwerp-Bruges Partner on Trade and Green Shipping
Representatives from Ports of Indiana and Port of Antwerp-Bruges have signed an Memorandum of Understanding (MoU) to advance key economic and environmental port initiatives.The agreement formalizes a plan to work together to advance economic development, container shipping, decarbonization, port security and technology integration.The agreement was a result of past collaborations between the ports…
Philippines, China to Set Up New Channels to Handle South China Sea Rows
The Philippines and China have agreed to set up new lines of communication to improve their handling of maritime disputes, according to a document and a Philippine diplomatic source, as ties sour over clashes about territory in the South China Sea.The two countries have traded barbs repeatedly over jurisdiction in the contested South China Sea as the Philippines, emboldened by support of defence ally the United States…
Greek Navy Extends Advisory to Curb Russian Oil Ship-to-Ship Transfers, Sources Say
The Greek navy this week extended an advisory effectively banning ship traffic off the coast of the southeastern Peloponnese and further, in a bid to deter ship-to-ship transfers of Russian oil off Greece, three sources said.Greece, over the past months, has been issuing and extending such advisories for military exercises off the Laconian Gulf and even further, off the island of Kithira, urging merchant and other vessels to avoid the area.The latest advisory was extended until Sept.
US Orders Stop to Vineyard Wind Construction
A federal agency has ordered a wind farm off the coast of Massachusetts to stop power production and construction until an investigation determines whether a blade failure affects other turbines, it said on Wednesday.Vineyard Wind's offshore wind project was shut down by federal authorities after a turbine blade failure on Saturday that caused pieces of fiberglass to fall into the water.Wednesday's suspension order from the U.S.
US Court Overturns Alaska Oil Lease Sale
A federal court in Alaska overturned on Tuesday night an oil and gas lease sale that had been mandated by the Biden administration's signature climate law as part of a political compromise, on grounds that the U.S. government violated the law when holding the sale.This ruling affects a lease sale held in December 2022 of offshore tracts for oil and gas development in the Cook Inlet in the northern…
NY Governor Announces Start of Construction on Sunrise Wind Project
New York Governor Kathy Hochul announced the start of construction on Sunrise Wind, a 924-megawatt offshore wind project developed by Orsted, the New York State Energy Research and Development Authority (NYSERDA) said on Wednesday.The project will provide enough clean energy to power about 600,000 New York homes once completed in 2026, it said in a statement.The Sunrise Wind project, situated about 30 miles east of Montauk…
US Navy Exonerates 258 Black Sailors Unjustly Punished After 1944 Explosion
The U.S. Navy exonerated on Wednesday 258 Black sailors who were unjustly court-martialed and punished for refusing to follow orders after an explosion that killed more than 300 people in a California port 80 years ago.On the night of July 17, 1944, an explosion with nearly the force of an atomic bomb ripped through the Port Chicago Naval Magazine north of San Francisco, destroying two ships and a…
US Military Ends Gaza Floating Pier Mission
The U.S. military announced on Wednesday that its mission to install and operate a temporary, floating pier off the coast of Gaza was complete, formally ending an extraordinary but troubled effort to bring humanitarian aid to Palestinians.The pier, announced by President Joe Biden during a televised address to Congress in March, was a massive endeavor that took about 1,000 U.S. forces to execute. Aid began flowing via the pier to Gaza in May…
Cooper Marine Adds Towboat David J. Cooper Jr.
Mobile, Ala. based Cooper Marine announced it has added the 4,200-horsepower towing vessel David J. Cooper Jr. to its fleet.This vessel, built in 1977 and formally named American Pharaoh, was acquired from Turn Services, based in new Orleans.Now homeported in Mobile, the 120-foot-long towboat will be used for transporting cargo on the Tennessee-Tombigbee Waterway, Cooper Marine said.The vessel is equipped…
Russia Ships First Grain from New Baltic Terminal
Russia has shipped its first grain from a new terminal at the Baltic Sea port of Ust-Luga, the Russian agricultural watchdog told Reuters, as the country seeks to diversify its grain export routes.The first shipment of 12,000 metric tons of grain was made in June from the Lugaport terminal, owned by the Russian private transport company Novotrans. LSEG data showed the shipment is destined for Cuba.About 90% of all Russian grain exports go through the Black Sea terminals.
Nine Crew from Capsized Oil Tanker off Oman Rescued, One Dead
At least nine of the 16-member crew of a Comoros-flagged oil tanker that capsized off Oman on Monday have been rescued while one was found dead, officials said on Wednesday, two days after the incident was first reported.The Prestige Falcon, a 117-meter oil product tanker, was heading to the Yemeni port of Aden with a crew of 13 Indians and three Sri Lankans when it capsized off Oman's major industrial port of Duqm.
Tague named VP of Sales and Supply for Crowley Fuels Business
Crowley named Walter Tague as vice president of sales and supply for its Crowley Fuels businesses unit, which services energy logistics needs throughout Alaska. With more than 30 years of maritime industry experience specializing in supply chain management and support in the oil and gas sectors, Tague will oversee Crowley’s marketing, sales, customer relations and procurement of refined product supply for the Alaskan and Canadian Arctic markets.Since joining Crowley in 1999…
Marinex Awarded Dredging Work in Savannah, Ga.
Charleston, S.C. based dredging contractor Marinex Construction has been awarded a $22,826,500 firm-fixed-price contract from the U.S. Army Corps of Engineers to perform maintenance dredging in Savannah, Ga.Marinex was one of two bidders for the project.The work in the Savannah Harbor deep draft navigation project is scheduled to be completed by July 11, 2025Up to four million cubic yards of material may be dredged…
OrbitMI Unveils DaaS Solution for Dry Bulk Maritime Players
OrbitMI has launched its latest Data-as-a-Service (DaaS) offering, tailored specifically for maritime industry players in the dry bulk sector.The new product is said to deliver precise and timely data to support decision-making and boost operational efficiency across the maritime industry.The Vessel and Company Particulars product provides information on various vessel characteristics, enabling ship…
First Steel Cut for Four Fully Electric Ferries Destined for Canada
Dutch shipbuilder Damen has cut the first steel for four fully electric ferries, being constructed for Canada-based BC Ferries at its Romanian shipyard.On July 16, the yard cut first steel on the first two of four, fully electric Island Class Ferries, which will be the first fully electric vessels to operate in the BC Ferries’ fleet.Operating with battery packs with the capacity to supply the power train with 2…
