Baltic Dry Index Edges Down as Demand for Smaller Vessels Slips
The Baltic Exchange's dry bulk sea freight index eased on Wednesday, as falling rates for panamax and supramax vessels overshadowed gains in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 2 points, or 0.1%, at 2,091.The capesize index was up 85 points, or 2.4%, at 3,569, its highest in more than two weeks.Average daily earnings for capesize vessels…
Ivø Appointed Deputy Secretary General at BIMCO
BIMCO’s Director of Contracts & Support, Stinne Taiger Ivø, has been appointed Deputy Secretary General at BIMCO from January 1, 2024.Ivø joined BIMCO in early 2022 to lead the Contracts & Support department. Prior to working at BIMCO, Ivø headed the claims department of marine insurer Skuld (Copenhagen), worked at Danish Shipping (formerly known as the Danish Shipowners’ Association) and as a lawyer at Gorrissen Federspiel’s department for Shipping/Offshore/Transportation.
China Unveils New Images of its Aircraft Carrier Newbuilding
Chinese state media unveiled new images of China's most advanced aircraft carrier yet, including next generation launch tracks that can catapult a wider range of aircraft from its deck.First shown to the public in June 2022, the Fujian was entirely designed and built domestically.Yet to conduct its first sea trials, the aircraft carrier is larger and technologically more advanced than the Shandong…
Bulk Carrier Management JV Established in Singapore
Taiwan-based dry bulk shipowner Wisdom Marine Group and Singapore-based ship management company Synergy Group have announced a new joint venture (JV).Wisdom Synergy Ship Management (WSSM) will be headquartered in Singapore with key operational centres in Taiwan and India and will provide technical management for Wisdom’s diverse fleet.Last year, Wisdom chose Synergy Group to provide management services…
AMSA Warns of Counterfeit Pilot Ladders
The Australian Maritime Safety Authority (AMSA) has issued as Pilot Advisory Note advising coastal pilots and pilotage providers about the existence of counterfeit pilot ladders and associated certification.In March 2019, one of AMSA’s Port Marine Surveyors identified a pilot ladder onboard a vessel which appeared to be non-compliant with the pilot transfer requirements. The associated inspection certificate presented at the time of the AMSA inspection…
Malta-Flagged Container Ship Reports Explosions Nearby
British maritime security firm Ambrey said on Tuesday that a Malta-flagged container ship reported seeing three explosions towards its port quarter, 15 miles (24 km) southwest of Yemen's Mocha.The vessel master was heard over VHF, calling a coalition warship, the firm added.Ambrey said it understood that three missiles had been fired from the direction of Yemen's Taiz Governorate.A nearby vessel reported seeing a small boat…
SIU President Emeritus Michael Sacco Passes Away
Seafarers International Union President Emeritus Michael Sacco died December 28, 2023, in St. Louis, surrounded by family members. He was 86 years old and passed away from natural causes.Mike was the longest-serving president in SIU history, having led the organization from 1988 until his retirement in February 2023, a period spanning nearly 35 years.The Seafarers International Union, Atlantic, Gulf…
Shipping Firms Continue to Pause Red Sea Shipments
Global Denmark's Maersk and German rival Hapag-Lloyd said on Tuesday their container ships would continue to avoid the Red Sea route that gives access to the Suez Canal following a weekend attack on one of Maersk's vessels.Both shipping giants have been re-routing some sailings via Africa's southern Cape of Good Hope as Yemen-based Houthi militants attack cargo vessels in the Red Sea. The disruption threatens to drive up delivery costs for goods…
US Was Top LNG Exporter in 2023 as Hit Record Levels
U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023.The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group of the rise to 8.6 million metric tons leaving U.S.
NOMARS Puts New Officers in Charge
DARPA’s NOMARS program aims to revolutionize naval operations by designing a ship that can operate autonomously for extended periods at sea without an onboard crew.One project at the forefront of maritime innovation is the development of a vessel called “Defiant,” a project of the Defense Advanced Research Projects Agency (DARPA). The Defiant is referred to as a NOMARS vessel – “No Manning Required Ship.”The project’s been underway at least since January 2020…
Amogy Brings Ammonia Into the Mix
Ammonia is one of several renewable fuels seen as an option to help the maritime industry decarbonize.One of the companies working to unlock the fuel’s potential is Brooklyn, N.Y. based Amogy, developer of an onboard system that feeds liquid ammonia through a cracking process to create hydrogen on demand for power generation via fuel cell—without carbon emissions.Having already demonstrated its technology on an aerial drone…
Performance Shipping Orders Two LR2 Tankers
Greek shipowner Performance Shipping Inc. announced it has signed two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. (CSTC) and Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) for the construction of two 114,000 DWT LNG-ready LR2 Aframax product/crude oil tanker vessels.The newbuilds, expected to be delivered in January and April of 2026, were ordered at a purchase price of US$64,845,000 per vessel, net of third-party commission.
Germany Builds up LNG Import Terminals
German utility RWE on Jan. 1 handed over floating liquefied natural gas (LNG) infrastructure at Brunsbuettel on the North Sea to state-owned Deutsche Energy Terminal (DET) as agreed when first imports arrived 10 months ago, it said.DET is now the sole operational manager and markets the capacity of the Brunsbuettel Elbehafen LNG project.Germany's quest to increase LNG capacity for regasification on its shores has intensified as it seeks to end reliance on Russian pipeline gas…
Goldsworthy Takes Over as CEO at IMarEST
The Institute of Marine Engineering, Science & Technology (IMarEST) announced it has appointed Chris Goldsworthy as its new chief executive. Goldsworthy replaces Gwynne Lewis who is retiring, having been in the position since 2020.Goldsworthy is a fellow of the IMarEST and former Cyprus branch chair. He embarked on his career as an engineer cadet with P&O Containers, where he spent 16 years at sea, achieving the rank of chief engineer officer.
Ethiopia Signs Pact to Use Somaliland's Red Sea Port
Landlocked Ethiopia signed an initial agreement with Somalia's breakaway region of Somaliland on Monday to use its Red Sea port of Berbera, Prime Minister Abiy Ahmed's office said.The Horn of Africa country currently relies on neighbouring Djibouti for most of its maritime trade."This has been now agreed with our Somaliland brothers and an MoU (Memorandum of Understanding) has been signed today," Abiy said at the signing ceremony with Somaliland President Muse Bihi Abdi in the Ethiopian capital…
Iranian Warship Enters the Red Sea
Iran's Alborz warship has entered the Red Sea, the semi-official Tasnim news agency reported on Monday, at a time of soaring tensions on the key shipping route amid the Israel-Hamas war and attacks on vessels by forces allied to Tehran.Tasnim did not give details of the Alborz's mission but said Iranian warships had been operating in open waters to secure shipping routes, combat piracy and carry out…
CMA CGM Hikes Shipping Rates Between Asia and Mediterranean
Unlisted French shipping group CMA CGM increased its container shipping rates from Asia to the Mediterranean region by up to 100% as of Jan. 15 compared to Jan.
Golden Ocean Names Svensen CEO
Oslo-headquartered dry bulk shipping company Golden Ocean Group announced its board has appointed Lars-Christian Svensen as CEO, effective January 1, 2024.Svensen had been serving as interim CEO following the resignation of the company's previous CEO, Ulrik Andersen, in June 2023.Svensen joined Golden Ocean as chief commercial officer in December 2020 and was previously senior vice president in Norway and president of U.S. trading activities in Seattle for Western Bulk.
New Tech to Monitor a Ship's Black Carbon Emissions
Green Instruments A/S and Danish Technological Institute have developed a real-time flue gas sensor technology - The Extinction-Minus-Scattering (EMS) measurement method - to accurately measure black carbon emissions from ships, a tech which could be instrumental in meeting increasing regulatory demands of the shipping industry for black carbon emission standards. The EMS method enables real-time in-situ measurement capabilities…
Great Ships of 2023: Icon of the Seas
“Turku is building the real big ships,” said Meyer Turku CEO Tim Meyer.Meyer is not exaggerating. The yard’s latest newbuild, Icon of the Seas—the first ship of Royal Caribbean’s Icon class—is 248,655 GT, making it the largest cruise ship ever constructed.In general, the cruise ships rolling out of the nearly 300-year-old Finnish shipyard have been steadily increasing in size since the Meyer Group took full ownership in 2015.
