Asia LNG Imports Are Robust, But Record Supply Keeps Spot Prices Muted
The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe.The spot price for LNG delivered to north Asia ended at $9.60 per million British thermal units (mmBtu) in the week to Feb. 2, up slightly from the seven-month low of $9.50 the previous week.Spot…
Australia Stops Ship Carrying Livestock from Sailing Around Africa to Israel
The Australian government said on Monday it had refused a request by a livestock exporter to send a ship carrying around 14,000 sheep and 1,500 cattle on a month-long voyage around Africa to Israel.The animals have been on board the vessel for a month, prompting outcry from animal rights advocates who have likened their treatment to torture.The MV Bahijah sailed from Australia for Israel on Jan. 5…
Houthis Still Have Appetite to Disrupt Red Sea Shipping, UK Defense Minister Says
Strikes against Houthi targets in Yemen have not fully diminished the group's appetite to disrupt Red Sea shipping, defence minister Grant Shapps said on Monday."These attacks have had a significant effect on degrading Houthi capabilities. But the Houthis' intent to continue disrupting the Red Sea has not been fully diminished," Shapps told parliament.(Reuters - Reporting by Muvija M, writing by William James; Editing by Kate Holton)
The Digital Revolution & US Shipbuilding
The competitive landscape in shipbuilding has changed dramatically, as ‘Industry 4.0’ capabilities driven by the digital revolution have given the edge to those that scout and adopt solutions that deliver on the promise of increasing efficiency while cutting costs. Juan Prieto discusses the CADMATIC suite of solutions for North American shipyards seeking to capture the competitive edge.Digital technologies are evolving at breakneck speed, unlocking tremendous efficiency gains for shipbuilders.
MOL and JX to Develop Japan-Australia Cross Border CCS Value Chain
Japanese shipping firm Mitsui O.S.K. Lines (MOL) and JX Nippon Oil & Gas Exploration Corporation (JX) have signed a memorandum of understanding (MoU) to develop a carbon capture and storage (CCS) value chain between Japan and Australia, including CO2 marine transport.The MoU focuses on the establishment of a CCS value chain by capturing CO2 emitted from ENEOS refinery and nearby various industries in Japan…
Vard to Convert IT Infinity PSV to Cable Laying Vessel
Norwegian ship designed and builder Vard has secured a contract from I.T. International Telecom Marine (IT) to convert its platform supply vessel (PSV) IT Infinity into a cable laying vessel (CLV).The PSV was built at Vard Brattvaag and delivered to Volstad Maritime in 2008 under the name Volstad Princess.SD Standard Drilling acquired the vessel in 2017 before it was sold to IT in 2021 and was renamed…
Ingram Forms Material Handling and Supply Chain Subsidiary
Nashville-based Ingram Barge Company announced it has formed a new material handling and supply chain solutions subsidiary, Ingram Infrastructure Group.The move, fueled by the company's acquisitions of Inland River Transport Holdings (SCF) and NexStar Solutions, is intended to enhance Ingram's end-to-end supply chain solutions capabilities.Ingram acquired integrated river transportation and logistics…
Birdon Acquires Metal Shark's Bayou La Batre Shipyard
Australia's Birdon Group announced its U.S. subsidiary has reached a deal to acquire Metal Shark Boats' shipyard in Bayou La Batre, Ala.Birdon America said it will utilize the 32-acre facility for vessel repair work as well as newbuild activity, including construction of the U.S. Coast Guard's $1.187 billion 27-vessel Waterways Commerce Cutter (WCC) Program awarded to Birdon in 2022.Birdon Group CEO…
Ulsan Hosts First Ship-To-Ship Methanol Bunkering Operation
The Korean Ministry of Oceans and Fisheries and Ulsan Port Authority have announced a world first with the completion of a ship-to-ship (STS) bunkering of green methanol to the 16,000 TEU container ship Ane Maersk at Ulsan Port, South Korea.The Ministry of Oceans and Fisheries established the relevant institutional foundation, including the ‘Guidelines for Approval of Self-Safety Management Plan for…
New Mechanism Planned for Ukraine Black Sea Grain Exports
Turkish President Tayyip Erdogan will discuss a new mechanism to allow Ukrainian grain exports through the Black Sea with his Russian counterpart Vladimir Putin during his upcoming visit to Turkey, Foreign Minister Hakan Fidan said on Sunday.Putin is expected to visit Turkey on Feb. 12 to meet Erdogan, a Turkish official previously said, in what will be the Russian leader's first trip to a NATO ally…
No New Import Bans in Next EU Russia Sanctions Package
The European Commission will not add any new import bans in its next package of sanctions on Russia, EU diplomats said, as a 13th package proposal takes its final shape.The Commission and European Union member states want to quickly pass a new set of measures to mark the second anniversary of Russia’s invasion of Ukraine on Feb. 24.Despite calls from some EU countries to ban more Russian exports like aluminium…
Ship Recycling Market Impacted by Middle East Situation
Bangladeshi and Pakistani markets have been making noticeable improvements over recent weeks, but there remains an ongoing shortage in the global availability of ‘market’ tonnage for ship recycling, reports cash buyer GMS.As evident from the number of arrivals and beachings this week, an increasing number of ship recyclers have clearly managed to and are reportedly still in the process of obtaining further approvals on L/Cs from their respective banks.
US Forces Shot Down Houthi Drones on Friday
The U.S. Central Command said on Saturday U.S. forces engaged and shot down several unmanned aerial vehicles (UAVs) over the Red Sea on Friday, and also destroyed four drones that Houthi forces were preparing to launch from Yemen."U.S. forces identified the UAVs in Houthi-controlled areas of Yemen and determined that they presented an imminent threat to merchant vessels and the U.S.
Americas Cup Innovation & a Carbon-Free Shipping Future
The Golden Gate Yacht Club (GGYC) represented by BMW Oracle Racing and the Société Nautique de Genève (SNG), the Americas Cup defending champion, represented by Team Alinghi were entwined in a 2.5-year legal battle over multiple court cases, including hearings in the New York Supreme Court and the Appellate Division of the New York Supreme Court, prior to the 33rd edition of the race, due to take place in 2010.The parties disagreed about the location…
IMO Secretary-General Sets Fresh Agenda for Maritime
IMO Secretary-General Arsenio Dominguez has shared the Organization’s plans and focus areas for the next four years.Speaking at a press conference at IMO Headquarters in London, Dominguez outlined four strategic priorities:• IMO’s work to regulate international shipping;• its support to Member States – particularly Small Island Developing States and Least Developed Countries;• enhancing public awareness and image; and• relations with people and stakeholders.
Alternative Fuel Newbuilding Orders Strong in January
According to the latest figures from DNV's AFI platform, it was another strong month for alternative fuel orders. This was led by methanol fueled ships, where 23 new orders were registered. Around 70% of these were in the container segment with the remainder mainly made up of vessels in the bulk and RoRo segments.LNG continues to feature strongly, with 10 more LNG fueled ships added to the database. Car carriers and tankers made up the bulk of these orders, followed by RoPax.
Australian Livestock: Second Vessel Heads to Red Sea
A ship carrying 16,000 sheep and cows that turned back from the Red Sea due to the risk of attack off Yemen was stranded at an Australian port in a heatwave on Friday as the exporter sought to offload at least some of the animals into quarantine.Meanwhile, another vessel carrying an even larger cargo - tens of thousands of animals - from Australia sailed for a Red Sea port in Jordan, with a contingency…
Italy to Supply Admiral for EU Red Sea Naval Mission
Italy will provide the admiral in command of a European Union Red Sea naval mission to protect ships from attacks by Yemen's Houthi militia, Defence Minister Guido Crosetto said on Friday.Many commercial shippers have diverted vessels following attacks by the Houthis, who control much of Yemen and say they are acting in solidarity with the Palestinians in the face of Israel's attack on Gaza."The European…
St. Johns Ship Building Names Joe Rella as President
St. Johns Ship Building announced it has appointed Joe Rella as president, succeeding Jeffery Bukoski, who left the role at the close of 2023.Rella brings over four decades of U.S. Navy and commercial maritime experience to his new position at the Palatka, Fa. shipyard. He was previously president and COO at Austal USA and has held executive roles at International Marine and Industrial Applicators. Rella received his undergraduate degree in marine engineering from the U.S.
CMA CGM Halts Red Sea Transit on Security Risks
Shipping group CMA CGM on Friday suspended until further notice all crossings by its vessels of the Bab al-Mandab Strait in and out of the Red Sea due to security risks, a source familiar with the matter said.The decision was taken after the latest attacks on vessels by Houthi militants in Yemen, including the targeting this week of a convoy containing CMA CGM-operated ships, the source said.The move means CMA CGM joins other major shipping firms in suspending transit through the southern Red Se
