US Creates New Marine Sanctuary Along California Coast
The Biden administration on Friday announced the creation of the Chumash Heritage National Marine Sanctuary along California's central coast, a victory for the Chumash tribe that pursued the designation for a decade.The newly formed sanctuary is part of U.S. President Joe Biden's goal to protect 30% of U.S. lands and waters by 2030.The sanctuary excludes areas where transmission cables and other infrastructure to support planned offshore wind facilities could be installed…
Baltic Index Extends Gains as Capesize Rates Rise
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a second consecutive session on Monday, propped up by higher rates for the capesize segment.The index, which factors in rates for capesize, panamax and supramax shipping vessels, added 5 points to 1,814 points.The capesize index gained 43 points to 2,878 points.Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, incre
Castor Maritime Adds 2020-built Bulk Carrier
Castor Maritime announced that on October 9, 2024, it took delivery of the M/V Magic Ariel, the 2020-built Kamsarmax bulk carrier vessel it had agreed to acquire as previously announced on September 30, 2024.The vessel acquisition was financed in its entirety with cash on hand.The Magic Ariel will be employed under a time charter contract with a minimum duration of about seven months at a gross daily rate equal to 108% of the Baltic Panamax Index 5TC (BPI5TC).
Two Vessels Struck in Russian Attack on Odesa
Another Russian missile attack on Ukraine's Black Sea port of Odesa damaged two civilian vessels and a grain storage on Monday, killing one person and injuring at least eight, Ukrainian authorities said.Russian troops have ramped up strikes on Ukraine's southern port infrastructure in recent weeks. Such attacks, which damaged a total of four foreign-flagged vessels since Oct. 6, had already pushed insurance rates up.One of the two vessels hit on Monday was a Palau-flagged bulk carrier…
DP World Moving Forward with $1.3 Billion UK Port Investment
Port and logistics firm DP World is going ahead with a 1 billion pound ($1.3 billion) investment in its London Gateway port, Britain's government said on Sunday after reports last week that the company had paused the project in protest.In what had been an embarrassment for the government before a major investor conference, Sky News reported on Friday that DP World had put the planned investment on…
India to Build Nuclear-powered Submarines
India approved on Wednesday plans to construct two of a new class of nuclear-powered attack submarines, two defence officials said, in a project estimated to cost about 450 billion rupees ($5.4 billion).As India scrambles to modernise its military in the face of China's growing presence in the Indian Ocean region, it is focusing on boosting naval capabilities, and improving domestic weapons-making capacity.Prime Minister Narendra Modi's cabinet gave the go-ahead for the first two submarines of a
Shipbuilding RFP: Estonian State Fleet Seeks Bids to Build Electric Ferry
Estonian State Fleet announced a call for tender for the design and construction of a new, battery-powered electric ferry to serve the main islands in Estonia. "I’m proud to see Estonia leading the way in adopting environmentally sustainable technologies in the maritime sector to achieve this," said Estonian Minister of Infrastructure, Vladimir Svet. "The new ferry will be similar in size and capacity…
MPA Calls for Electric Patrol Craft Proposals
The Maritime and Port Authority of Singapore (MPA) issued an Expression of Interest (EOI) for design and development proposals for its electric patrol craft, as part of efforts to decarbonize and digitalize maritime operations.In addition to meeting MPA’s operational requirements, the designs must include safety features such as advanced battery management systems, secure battery compartments to maintain fire…
Colonel (Ret.) Landry Joins Iridium to help Expand Government Ops
Iridium Communications said that U.S. Space Force Colonel (Ret.) Kalliroi Landry has joined Iridium as Government Programs Director. Col. Landry will engage Department…
Korea's Hanwha Raises Offer for Singapore's Dyna-Mac Takeover
South Korean conglomerate Hanwha Group on Monday raised its offer for the remaining stake it does not already own in Singapore's Dyna-Mac, valuing the offshore oil and gas contractor at S$790.6 million ($605.41 million).The improved offer of S$0.67 per share represents a 35.4% premium to Dyna-Mac's last traded price on Sept. 10, before Hanwha's earlier offer of S$0.60 per share was disclosed.Shares of Dyna-Mac last closed at S$0.65…
NES to Equip OMV’s New Field Support Vessel for Neptun Deep Project
Norwegian Electric Systems (NES) has secured a contract to develop and deliver the complete energy design, an integrated automation system and its future-oriented bridge system for a Field Support Vessel, being built by Green Yard Kleven for Romania’s OMV Petrom.NES will supply frequency converters and electric motors for the propulsion system, battery system, transformers and its proprietary Quadro…
Ship Recyclers Caught in “Eerie Calm”
Cash buyer GMS reports an eerie calm has descended across tense global economies, including the destitute ship recycling sector.It’s been some time since a regular supply of a decent variety of vessels has been regularly available (likely the worst in a decade), says GMS. Levels have declined by over USD 100/LDT since the peaks of early 2024 and offerings continually retreat, firmly relegating all…
Watch: Rescue Services Extinguish Tanker Fire
The 73-meter-long German oil and chemical tanker Annika caught fire on October 11 whilst northeast of Kühlungsborn, Germany, in the Baltic Sea. The Maritime Rescue Co-ordination Centre (MRCC) Bremen, operated by the German Society for the Rescue of Shipwrecked People (DGzRS), led the response.The sea rescue boat Wilma Sikorski rescued all seven crew members shortly after the fire was reported, and…
Industry First: Sails Installed on Ethylene Carrier
Anthony Veder has retrofitted two sails on the ethylene carrier Coral Patula.With this installation by Econowind, Anthony Veder is the first company worldwide to install sails onboard a gas carrier. Later this year sister ship Coral Pearl will be equipped with two similar sails.The system is designed to work alongside existing engines, providing a boost in propulsion through the power of wind. The company anticipates fuel savings of around 5%…
Esgian Week 41 Report: Operators in Norway Preparing for Drilling
Esgian highlights that operators in Norway are preparing new wells for Odfjell Drilling, COSL and Saipem semisubs in its Week 41 Rig Analytics Market Roundup.Report SummaryContractsShelf Drilling has secured new contracts for its 350-ft jackups Shelf Drilling Achiever and Adriatic I offshore Nigeria.Drilling Activity and DiscoveriesThe Norwegian Environment Agency (Miljødirektoratet) has received an…
Singapore Tests Oil Spill Response Robot
The Maritime and Port Authority of Singapore (MPA) led the 16th Joint Oil Spill Exercise (JOSE) on October 11 and tested new oil spill response technologies.Over 100 personnel from 18 agencies and companies participated in JOSE 2024, which included a table-top exercise and a seaward deployment exercise at the Western Anchorage, off Pasir Panjang Terminal.Terminal operators on Jurong Island and Pulau Bukom activated their emergency protocols and deployed craft to spray dispersants.
Oil Tanker Catches Fire Off Northern Germany
An oil tanker caught fire off the Baltic Sea coast of northern Germany early on Friday, and all seven crew members on board at the time were taken ashore, maritime rescue services said in a statement.Three vessels have been deployed to the burning tanker Annika in the Mecklenburg Bay to extinguish the blaze, with several firefighting teams also en route to the site via helicopters, according to the statement.The Germany-flagged…
US Expands Sanctions to Iran's 'Ghost Fleet' of Oil Tankers
The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran's economy with the aim of denying the government funds to support its nuclear and missile programs."The…
Captain's Gender Had Nothing to Do With Sinking of New Zealand Naval Ship, Defense Minister Says
New Zealand's Defence Minister on Thursday publicly criticised online trolling of the female captain of a naval vessel that sunk at the weekend, saying while the cause of the incident was unknown, it had nothing to do with the captain’s gender.The Manawanui, the navy's specialist dive and hydrographic vessel, sank on Sunday on a reef off the coast of Samoa that it was surveying. Its 75 crew and passengers…
Russian Strikes on Ukraine's Ports Push Insurance Rates Up
A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said on Thursday.Russian ballistic missiles attacked the port infrastructure of Ukraine's southern Odesa region on Wednesday, becoming the third such attack in the past four days."Russia is deliberately intensifying its attacks on the port infrastructure of the Ukrainian south.
