McDermott’s Subsidiary Grabs Marsa LNG Job Worth Up To $250M
CB&I, a wholly owned subsidiary of McDermott, has been awarded a significant contract by TotalEnergies and OQ joint venture for the engineering, procurement, construction (EPC) of a full containment concrete liquefied natural gas (LNG) storage tank, located in Oman's Port of Sohar.Under the contract, awarded by Marsa Liquefied Natural Gas, CB&I will provide turnkey EPC services for a 165,000m3 full…
Kongsberg Thrusters for Six Tunisian PA Tugs
Kongsberg Maritime won a contract to supply azimuth thrusters to Turkish shipbuilder Med Marine, to power six new sterndrive tugs for the Tunisian port authority OMMP.The new tugs, of Robert Allan RAstar 2800 series design, are designed for a range of towing and harbor operations in Tunisian ports.Kongsberg Maritime will supply a pair of its US205 FP azimuth thrusters to each of the six 28-m vessels.
Container Ship Deliveries Hit YTD Record
“In 2023, 2.3 million TEU of container ship capacity was delivered, beating the former all-time high by 37%. Year-to-date another record has been set as more than 1 million TEU has already been delivered during the first four months of the year, an increase of nearly 80% compared to the previous record,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.As ship recycling has so far only retired 19 smaller ships…
Vard Selects TMC to Equip Prysmian’s Newbuild Cable Laying Vessel
Norwegian shipbuilder Vard has hired TMC Compressors (TMC) to supply a complete marine compressed air system to a newbuild cable laying vessel being built for Prysmian.Under the contract, whose value was not disclosed, TMC will deliver a marine compressed air system consisting of control and service air compressors to the vessel.The company will manufacture the equipment in the Nordic region and deliver…
Damen and Siemens Set Up Vessel Financing Facility
Damen Financial Services (DFS) and Siemens Financial Services (SFS) have joined forces to establish a new facility for vessel financing solutions under the name of Damen Ship Lease (DSL).The DSL facility is now one of the funds of Damen Ship Lease Cooperation which is managed by DFS. It is designed to provide current and prospective ship owners with the ability to expand their fleets by enabling them to acquire state-of-the-art vessels using flexible financing options.
Bluestone to Supervise Construction of Prysmian's Two New Cable Layers
Bluestone Group, a maritime technical services company, has secured a contract for plan approval and site supervision of two new cutting-edge cable-laying vessels operated by Prysmian.The two new cable-laying vessels, the first of which is under construction and the second under design, will reinforce Prysmian’s submarine project execution capabilities.The first vessel, which will be an evolution of Prysmian’s preceding vessel…
CMM Secures Funding to Facilitate Construction of Ethanol-Powered PSV Fleet
Compagnie Maritime Monegasque (CMM) has secured $94 million in financing from Summit Ridge Capital Partners, which will help the company construct pioneering ethanol-powered fleet of Platform Supply Vessels (PSVs) in Brazil.The financing will enable CMM to recompose its shareholder structure and to expand its fleet, the company said. Panorama Capital Partners sourced and advised on the transaction…
HD Hyundai Marine Solution Jumps in Seoul Debut
HD Hyundai Marine shares closed up 97% versus their initial public offering (IPO) price in the company's trading debut on Wednesday, after a 742 billion won ($538 million) IPO, South Korea's largest in two years.The successful listing of the ship maintenance and repair firm, backed by U.S. private equity giant KKR, paves the way for other potential offerings to come to market. Sizeable South Korean…
IMO Plans Events for International Day for Women in Maritime
The role women play in ensuring maritime safety will be celebrated worldwide by the IMO on this year's International Day for Women in Maritime. Observed globally each year on May 18, International Day for Women in Maritime aims to promote the recruitment, retention and empowerment of women in the sector, as well as a barrier-free work environment.Ahead of the day, the IMO will host an international symposium on Friday…
Marlink Upgrades Simon Møkster Shipping’s Network
Marlink has completed a fleet-wide upgrade of its hybrid network solution for long-time client Simon Møkster Shipping.The upgrade to Marlink’s Sealink Nextgen solution, which includes the Starlink LEO service, enables the company to use standard office software applications including MS-TEAMS as its default collaboration platform and primary voice channel.Simon Møkster Shipping sought a hybrid solution that would optimize its operations around high throughput connectivity and managed networks…
Authorities Identify Sixth Bridge Collapse Victim
Unified Command salvage teams have located the sixth victim of the Baltimore bridge collapse.Maryland State Police investigators along with officers from the Maryland Transportation Authority Police and the FBI responded to the scene and recovered the body of a sixth construction worker. The victim is identified as José Mynor López, 37, of Baltimore, Maryland.“With heavy hearts, today marks a significant…
Oil that Spilled from Barge in Tobago Might Be from Venezuela
A barge that capsized in February and caused a large oil spill near Tobago that also affected neighboring Caribbean islands might have picked up the fuel from Venezuela, Trinidad and Tobago's energy minister Stuart Young said on Monday."The vessels were on the way to Guyana," the minister said of a barge being towed by a tug boat while revealing the results of his government's investigation on the incident.The spill…
Adversarial Seas: AI and the Evolving Cyber Threat in Maritime
The maritime transportation system, the lifeblood of global trade, is undergoing a digital revolution. Automation and artificial intelligence (AI) are transforming how ships operate and cargo moves. However, this increased reliance on technology creates a double-edged sword: while AI offers powerful tools for cybersecurity, it also presents new vulnerabilities to exploit. This article explores the…
Grady Hurley Elected President of Maritime Law Association of the US
Grady Hurley, a partner and co-leader of the maritime litigation, arbitration, and dispute resolution team at Jones Walker LLP, has been elected president of the Maritime Law Association of the United States (MLA) during the organization’s general meeting held in New York City on May 3, 2024.Hurley is the fourth president elected from New Orleans during the MLA’s 125-year history. He most recently…
Liza Unity is First FPSO to Earn ABS REMOTE-CON Notation
The ABS-classed Liza Unity has received the first REMOTE-CON notation for an floating production storage and offloading (FPSO) from ABS. The notation demonstrates the vessel’s alignment with remote-control functions and signifies that the design and construction of the offshore asset are assessed against and adhere to the ABS Requirements for Autonomous and Remote Control Functions.The Liza Unity is…
Bollinger Names Andy Naquin Sales VP
Bollinger Shipyards announced it has promoted Andrew “Andy” Naquin to lead its sales team as the company's new Vice President of Sales.“Since joining Bollinger, Andy has been an invaluable addition to our team,” said Ben Bordelon, President and CEO of Bollinger Shipyards. “His deep experience and breadth of relationships in the maritime industry are second to none, and I know he’ll continue to deliver…
Royal Caribbean Recruiting Thousands to Meet Surging Demand
Cruise operator Royal Caribbean Group is in discussions with new and existing markets around the world to recruit thousands of workers to staff its ships and private destinations to keep up with record cruise demand.The number of people taking cruises hit a record in 2023, and with the surge in demand and larger vessels, labor needs are growing. Tourism boards and port operators from around the world…
Baltic Dry Index Scales to Six-week High
The Baltic Exchange's dry bulk sea freight index extended its rally on Tuesday to hit its highest in more than six weeks, supported by a jump in the large vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, added 207 points, or 11.03%, to 2,083, touching its highest level since March 25."The dry bulk market has continued to outperform expectations...
Ship Engine Failure Halts Bosphorus Vessel Traffic
Traffic was suspended in Turkey's Bosphorus on Tuesday after a bulk carrier had an engine failure at the southern end of the straits that run through Istanbul, shipping agent Tribeca said.It said that the Liberian-flagged bulk carrier Alexis suffered the engine failure at 5 a.m. (0200 GMT) and that vessels were sent to the area for a likely salvage operation.(Reuters - Reporting by Daren Butler; Editing by Jonathan Spicer)
Cambodia to Cut Shipping Through Vietnam by 70% With New China-funded Canal
Cambodia plans to cut shipping through Vietnamese ports by 70% as a result of a $1.7 billion China-funded upgrade of a canal connecting the Mekong River basin to the Cambodian coast, the country's deputy prime minister told Reuters.Sun Chanthol downplayed environmental concerns about the Funan Techo canal slated to break ground later this year, and dismissed speculation that it could be used to allow upriver access for Chinese warships as "baseless".The project…
