Baltic Dry Index Logs Biggest Fall in a Month
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The Baltic Exchange's dry bulk sea freight index fell on Tuesday to a nearly seven-week low in its worst showing in more than a month, as rates across vessel segments hit multi-week lows.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 147 points, or 7.3%, to 1,875, hitting a fresh low since Nov. 23.The capesize index dropped by 350 points, or 9.7%, to 3,249, also logging its biggest daily fall since Dec.
Norway Parliament Votes in favor of Seabed Mining
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Norway's parliament on Tuesday voted in favor of allowing Arctic seabed mineral exploration, in line with a deal reached between the government and key opposition parties last month, overcoming objections from environmental campaigners.The decision comes as Norway hopes to become the first country to make deep-sea mining happen on a commercial scale and secure critical minerals and jobs despite concerns over the environmental impact and international calls for a moratorium.There is yet no set ti
Yanmar Developing Hydrogen-fueled Four-stroke Engine
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Yanmar Power Technology Co., Ltd. (YPT), a subsidiary of Yanmar Holdings Co., Ltd., has embarked on the development of a hydrogen-fueled four-stroke high-speed engine for power generation for coastal vessels in Japan as part of the Nippon Foundation’s zero emission ship demonstration experiment. The engine utilizes hydrogen as a fuel, emitting no CO2 during combustion.In parallel with the hydrogen engine development…
Viking Strengthens Marine Evacuation Portfolio with Undertun Acquisition
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Danish maritime safety solutions company Viking Life-Saving Equipment has acquired rights to manufacture and supply Undertun marine evacuation systems (MES).The Viking acquisition has been agreed with Sverre Undertun, whose Norway-based company offers solutions which include its well-known Undertun ship gangways.The solution is suitable for the small ferry market due to its easy installation and use.Catering for up to 150 persons…
Nakilat Grows Fleet with Six New LNG and LPG Carriers
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Qatar-based energy shipping company Nakilat has placed orders to with Hyundai Samho Heavy Industries (HSHI) of South Korea for the construction of six new LNG and LPG carriers.The order includes two LNG carriers with a cargo capacity of 174,000 cubic meters each and four very large LPG/ammonia gas carriers, with a substantial cargo capacity of 88,000 cubic meters.The vessels are set to be delivered between 2026 and 2027…
NYK Orders Man Energy Engines for Four LNG Carriers
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Japanese shipping giant NYK has ordered eight ME-GA engines from Man Energy Solutions for four liquefied natural gas (LNG) carriers.The order is for eight 5G70ME-GA Mk. 10.5 engines related to the construction of four 174,000 cbm. LNG carriers by NYK.All eight engines will feature MAN Energy Solutions’ proprietary EGRBP (Exhaust Gas Recirculation ByPass) emissions-reduction technology.“We developed this engine for easy application to most contemporary LNG carrier designs and…
Hydrogen-Powered Offshore Wind CTV Starts Sailing in Germany
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FRS Windcat Offshore Logistics has announced the deployment of the hydrogen-powered dual fuel crew transfer vessel (CTV) in Germany for 50Hertz transmission system operator, marking the beginning of a joint operation in various wind farms in the German Baltic Sea.The CTV, named Hydrocat 55, is equipped with the dual fuel hydrogen technology of CMB.TECH, one of the FRS Windcat Offshore Logistics (FWOL)…
DeepOcean Adds Converted Offshore Support Vessel to Its Fleet
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Ocean services provider DeepOcean has agreed to charter a converted, battery-powered vessel to further enhance its subsea offering to the offshore renewables and oil and gas industries.DeepOcean has entered into a long-time charter agreement for the Island Condor – to be renamed Island Ocean multi-purpose support vessel (MPSV) – following conversion and upgrade.The vessel has been chartered from Norwegian shipowner Island Offshore., with the contract starting in the third quarter of 2024.
Energos Acquires Two FSRUs from Dynagas
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Offshore LNG infrastructure company Energos Infrastructure has completed the acquisition of two floating storage and regasification units (FSRUs) from the affiliates of Greek Dynagas.The two 174,000 m3 closed-loop FSRUs, built in 2021, will be renamed Energos Force and Energos Power, said Energos Infrastructure, a joint venture majority-controlled by Apollo and minority shareholder New Fortress Energy.Earlier in 2023…
Methanol-Fueled Ultramax Bulk Carrier Receives ABS AiP
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Lemissoler Navigation and Shanghai Merchant Ship Design and Research Institute (SDARI) have received ABS approval in principle (AiP) for the design of a 65,000dwt methanol-fueled ultramax bulk carrier, the first such methanol vessel for China’s shipbuilding industry.The vessel has been thoroughly optimized and its preliminary Energy Efficiency Design Index (EEDI) was reviewed and indicated that the vessel exceeds EEDI Phase 3 standards.
IMO Secretary-General Appoints New Senior Team
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Arsenio Dominguez, who took up office as the 10th elected Secretary-General of the IMO on January 1, has named his Senior Management Committee members: Director of Administrative Division: Azara PrempehDirector of Maritime Safety Division: Hiroyuki YamadaDirector of Legal Affairs and External Relations Division: Dorota Lost-SieminskaDirector of Marine Environment Division: Heike DeggimDirector of…
IACS Launches New Piping Recommendation
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The International Association of Classification Societies (IACS) has launched a new recommendation, 177, to enhance the quality of machinery piping systems in shipbuilding.Piping systems convey different fluids at various temperatures and pressures to all parts of the ship, including to nearly every enclosed space on a vessel. As such, and because these systems are a means through which many of a ship’s control systems operate…
Maersk Tankers Acquires Penfield Marine
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Maersk Tankers announced it has acquired U.S. pool operator Penfield Marine, creating a large-scale crude and product tanker company with around 240 vessels under its management.Maersk Tankers’ CEO, Tina Revsbech, said, “Penfield Marine has over the years built a solid position and presence in the industry and is a perfect match to Maersk Tankers. Our combined commercial and operational expertise will…
American Maritime Partnership Announces New Leadership Team
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The American Maritime Partnership (AMP) announced the election of new leadership for the organization. Jennifer Carpenter takes the helm as president, and, in doing so, becomes the first woman to lead the organization. She is joined by vice president Sara Fuentes and James “Jim” Weakley who will serve the dual role of secretary and treasurer. Elected officers will hold their positions for a two-year…
Seaspan LNG Bunkering Vessel Launched
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Seaspan Energy announced the launch of Seaspan Garibaldi, the first of three 7,600m3 liquefied natural gas (LNG) bunkering vessels being built by CIMC Sinopacific Offshore & Engineering (CIMC SOE) in China.The newbuild is named after Mount Garibaldi, or “Nch’ḵay̓” as the Squamish Nation has known it for thousands of years. This series of vessels will be named after iconic West Coast mountains and…
India Providing Escort for Ships Around the Red Sea
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India's defense ministry is providing protective escorts to Indian containerships in the high seas around the Red Sea as the security situation there continues to simmer, a government source said on Friday.Containers could face delays of 14 days in their turnaround time due to taking a longer sea route around Africa which is also causing higher transport and insurance costs, the source, who spoke on condition of anonymity…
Fairbanks Morse Defense Acquires Samtan Engineering Corporation
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Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has acquired single-source metalworking supplier Samtan Engineering Corporation based in Malden, Mass. Samtan’s metalworking services expand FMD’s portfolio with shearing, punching, forming, machining, fabrication and assembly capabilities.“Our acquisition of Samtan Engineering Corporation allows Fairbanks Morse Defense…
Great Lakes, Van Oord Receive Rock Installation Contract Termination
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Empire Offshore Wind, a joint venture between Equinor and BP, has terminated the contract awarded to Great Lakes Dredge & Dock Corporation and Van Oord for rock installation at Empire Wind 2 offshore wind project.In 2022, the Great Lakes and Van Oord consortium was contracted by Empire Wind to perform rock installation for the Empire Wind 1 and 2 projects with installation windows in 2025 and 2026, respectively.
Liberty Green Logistics Acquires Renewable Strategy
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Liberty Green Logistics LLC, an offshore wind supply chain company, acquired Renewable Strategy Ltd. (RSL), a digital platform offering marine coordination software, asset monitoring, emissions tracking, personnel records tracking, Global Wind Organization (GWO) training, consultancy and analytical solutions to the renewables and maritime industry. The platform’s software has been used through deployment in Europe, Asia and America.
Strategic Marine’s Fast Crew Boats Enter Bruneian Market
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Singapore's Strategic Marine has signed a shipbuilding contract with Bruneian Amarco for the delivery of its fast crew boats that will serve Bruneian offshore oil and gas sector.The collaboration marks a key milestone for both companies with the latest 4th Generation Fast Crew Boat (FCB) entering the Bruneian market for long term operations.The comprehensive shipbuilding contract encompasses the enabling of the vessel to be future ready for a gyro stabilizer…