BIMCO: Container Shipping Market Strength Predicated on Red Sea Re-Routing
Niels Rasmussen, BIMCO’s Chief Shipping Analyst, reports that ship supply is expected to grow on average 10.3% in 2024 and 5.3% in 2025. After increasing in 2024, sailing speeds are expected to reduce in 2025.Attacks on ships in the Red Sea have forced nearly all container ships to sail around the Cape of Good Hope, adding 10% to average sailing distances and ship demand.Re-routing via Cape of Good Hope could impact all of 2024.
Esgian Week 26 Report: Drilling Activity is High
Esgian provides an update on drilling activity in its Week 26 Rig Analytics Market Roundup.Report SummaryContractsVentura Offshore has been granted exclusive marketing rights from Hanwha Drilling LLC for the newbuild 12,000-ft 7th generation drillship, Tidal Action, for an ongoing tender process in Brazil.Transocean has announced a 365-day contract extension for the 12,000-ft drillship Deepwater Asgard with an independent operator in the U.S.
Interferry Calls for CII Fleet-Balancing Mechanism
Interferry Director of Regulatory Affairs Johan Roos has announced that the organization has drafted an alternative compliance mechanism to the CII that will be submitted to MEPC 82, to be held September 30 - October 4.CII is a shipping industry-specific operational efficiency requirement that dictates how much fuel is allowed to be burned per nautical mile in relation to ship type and ship size. “It…
Crew Safe after Incident Southwest of Yemen's Al Mukha
The United Kingdom Maritime Trade Operations (UKMTO) said on Sunday it had received a report of an incident 13 nautical miles southwest of Yemen's Al Mukha, but that the vessel and its crew were safe.An UKMTO advisory note said a merchant vessel had reported being approached by 12 small craft which remained in the vicinity of the vessel for about an hour before leaving the area.The vessel and crew were reported safe, and the vessel is proceeding to its next port of call, the advisory note added.
America Must Renew its Commitment to Maritime
The United States must renew its commitment to a strong, reliable American maritime capability to confront emerging threats. China’s aggressive shipping expansion poses significant challenges to the United States and our allies. Global tensions have highlighted the vulnerability of maritime supply chains, and our domestic waterways remain a potential pathway for increasingly belligerent adversaries…
USCG Commissions First Pacific Northwest Fast Response Cutter
The U.S. Coast Guard commissioned its 56th Fast Response Cutter and first one to be stationed in the Pacific Northwest during a ceremony held in Astoria, Ore., Thursday, marking the vessel's official entry into active service.Built by Bollinger Shipyards and delivered to the Coast Guard earlier this year, the Coast Guard Cutter David Duren (WPC-1156) is the first of three planned Fast Response Cutter’s (FRC) to be homeported in Astoria.The ceremony was presided by Vice Adm.
Stena RoRo Orders Two Multi-fuel E-Flexer RoPax Vessels
Stena RoRo announced it has ordered another two E-Flexer RoPax vessels from the Chinese shipyard CMI Jinling (Weihai), for delivery in 2027.This is Stena RoRo's fourteenth and fifteenth vessel in the E-Flexer series.The two vessels will enter service under long-term charter to Greek shipping company Attica Group for operations in the Adriatic Sea. Attica Group has an option to purchase the newbuilds…
Baltic Dry Index Logs Monthly Gain
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Friday to mark a monthly gain on the back of higher rates in capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 19 points, or 0.9%, to 2,050. The index rose 12.9% in June.The capesize index climbed 72 points, or 2.1%, to 3,443, marking its highest level since May 9.
Construction of Germany's First Land-based LNG Terminal Starts
The construction of Germany's first land-based liquefied national gas (LNG) terminal at the inland port of Stade kicked off on Friday with the goal of starting operation in 2027, said the project firm Hanseatic Energy Hub (HEH).The project on the river Elbe is part of Germany's broader efforts to diversify its energy sources after a sudden drop of Russian gas imports following Moscow's invasion of Ukraine.The terminal will include two LNG tanks with capacity of 240,000 cubic metres each and will
Ship Captain Reports Five Missiles Landed Nearby in Red Sea
A ship's captain reported that five missiles had landed close to his vessel in the Red Sea, 150 nautical miles (172 miles) northwest of the Yemeni port city of Hodeidah, the United Kingdom Maritime Trade Operations (UKMTO) monitor said on Friday.UKMTO said the ship had reported no damage and was heading northward.
US Announces Atlantic Offshore Wind Lease Sale for August
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ClassNK Grants its First Software Security Certifications
ClassNK has granted its first software security certifications to ship management solution 'MACK', developed by SVM Solutions and Technologies Pte. Ltd. (Solverminds).'MACK' is a comprehensive digital ship management solution that support a data-driven decision-making system. ClassNK has verified the development process and function of 'MACK Web Application', 'MACK Audit Mobile Application', and 'MACK Notification Mobile Application' based on the guidelines.
Preparing for Floating Wind – Leveraging the Oil & Gas Supply Chain
Examining similarities and differences between the deepwater oil & gas and the emerging floating wind segment.There has been much excitement around the potential for the offshore wind industry to access deeper water sites through the deployment of floating wind technology.Further, there has been much discussion around the development and deployment of disruptive technologies to leverage the opportunity of floating wind.
Busch Retires, Sperling Takes Top Spot at Tidewater
Tidewater announces the retirement of President and CEO Todd Busch, effective June 30, and current COO Johan Sperling will step into the role of President & CEO on July 1."Todd's leadership has been nothing short of remarkable," said Johan Sperling. "His vision and dedication have set a strong foundation for Tidewater's future. I am honored to have the opportunity to build on his legacy and lead Tidewater…
American Offshore Services Launches Its Second CTV
American Offshore Services (A-O-S) announced the launch of its second crew transfer vessel (CTV), Generater, designed to support the United States' growing offshore wind industry.Generater is a 99-foot, Jones-Act-qualified catamaran built to serve wind farms off the U.S. East Coast.Like sister vessel Gripper, the newbuild is of Northern Offshore Services (N-O-S)’ 30-meter G-Class design with focus on comfort for crew and technicians…
Italian Navy Places $535M Oder for Fourth NFS Submarine from Fincantieri
Italian shipbuilder Fincantieri has secured a contract to build the fourth new-generation submarine related to the U212NFS (Near Future Submarine) program for the Italian Navy.The order for the new submarine, valued at $534 million (€500 million), has been exercised by OCCAR (Organisation Conjointe de Coopération en matière d’Armement, the international organization for joint armament cooperation).The…
Amogy, Mitsubishi Conclude Ammonia Tech Study for Maritime Applications
Amogy and Mitsubishi Shipbuilding (MSB), a part of Mitsubishi Heavy Industries (MHI) Group, have completed the feasibility study on using their technologies across ammonia-powered shipping and shipbuilding value chain.The feasibility study focused on collaboration concept designs of onboard hydrogen production and utilization with Amogy's ammonia-cracking technology and Mitsubishi Ammonia Supply and…
Damen Books New SOV Oder for Taiwanese Offshore Wind Market
Dutch shipbuilder Damen has signed a deal with Ta San Shang Marine (TSSM) for the construction of new service operation vessel (SOV) for Taiwanese offshore wind operations.This is the third newbuilding SOV for TSSM, a joint venture between Mitsui O.S.K. Lines (MOL) and Ta Tong Marine (TSS), following the first newly built SOV in Asia the TSS Pioneer, delivered in 2022, and the TSS Cruiser, which was…
NYK and Astomos Energy Welcome Second LPG Dual-Fuel Vessel
NYK and Astomos Energy have named their second jointly owned large liquefied petroleum gas (LPG) carrier Gas Amethyst at the Sakaide Works of Kawasaki Heavy Industries.Following Gas Garnet vessel, which was delivered in March this year, Gas Amethyst is the second jointly owned LPG dual-fuel vessel to be delivered this year and the fourth LPG dual-fuel vessel for Astomos Energy.Gas Garnet is 229.90 meters long vessel…
INTERCARGO Members Achieving Fewer Deficiencies
INTERCARGO-registered dry bulk ships continue to outperform the industry average in both deficiencies and detentions, as highlighted in the latest INTERCARGO benchmarking report on bulk carriers.The Benchmarking Bulk Carriers 2023-2024 report details detention rates and deficiencies per inspection across flag states, port state control, class and P&I clubs.In 2023, detention rates decreased for the dry bulk fleet globally…
