Ship Recyclers can Expect Falling Prices
The “raging fires of tariffs and counter-tariffs” that continue to suppress recycling vessel prices are creating a path for falling prices in the first, and possibly second, quarter of 2025, reports cash buyer GMS.“Some of the seriously older tonnage that has gotten an extension on their expiration dates via global events and wars that saw charter rates soar through the skies across 2023 and especially 2024…
South Korea Tops China in January Shipbuilding Orders
South Korea beat China in global shipbuilding orders in January, according to Clarkson Research Services data.South Korean yards received orders for 900,000 CGT for 13 ships, 62% of the global total. This included 12 LNG dual-fuel container ships ordered from HD Korea Shipbuilding & Offshore Engineering and one from Samsung Heavy Industries.Chinese yards received orders for 270,000 CGTs for 21 vessels…
WFW and Hogan Lovells Advise on Hapag-Lloyd Green Ship Finance
Watson Farley & Williams (WFW) and Hogan Lovells jointly advised on three separate green ship financing transactions with an aggregate value of over $1.5 billion.All three transactions, one of which was secured by Chinese ECA Sinosure, were carried out in accordance with the Green Loan Principles of the Loan Market Association. WFW advised arrangers, financing banks and green loan arranger, with Hogan Lovells acting for Hapag-Lloyd.In October 2024…
Divers Investigating Aircraft Debris
Divers from the FBI continue are investigating multiple underwater targets in the Potomac River that could be additional aircraft debris from the collision between a Mitsubishi Heavy Industries (MHI) RJ Aviation (Bombardier) CRJ700 and a Sikorsky UH-60 Black Hawk helicopter.The PSA Airlines Bombardier CRJ700 airplane operated as American Airlines Flight 5342 from Wichita, Kansas, to Reagan Washington National Airport and the US Army helicopter collided at 8:47 p.m.
Ingalls Shipbuilding Fosters STEM at Local Schools
HII’s Ingalls Shipbuilding division has awarded $95,600 in STEM grants to 22 local schools and educational organizations.The aim is to foster innovation and critical thinking among youth. The grants will support a variety of hands-on projects, classroom technology enhancements and STEM-focused curriculums.“STEM education isn’t just about learning formulas or theories — it’s about hands-on experiences that inspire the next generation of critical thinkers…
“External impact” Damaged Russian Cable
An underwater Russian Baltic Sea telecoms cable was damaged by an "external impact," Russia's TASS news agency cited the country's state-owned Rostelecom company as saying on Saturday."Rostelecom's submarine cable was damaged in the Baltic Sea as a result of an external impact some time ago," TASS cited Rostelecom as saying.Restoration work is under way and the incident has had no impact on subscribers so far…
Ship Runs Aground off Sakhalin Island
A district in Russia's Sakhalin region has been put on high alert after a Chinese cargo ship ran aground off the southwest coast of the Sakhalin Island, the governor of the region in Russia's Far East said early on Sunday.The Chinese bulk carrier An Yang 2 is reported to have 20 crew members and 700 tons of fuel oil onboard as well as 100 tons of diesel fuel and 1,000 tons of coal.No fuel spillage was recorded and there was no threat to the crew…
Baltic States Switch from Russian to European Power Grid
The Baltic states of Estonia, Latvia and Lithuania completed a switch from Russia's electricity grid to the EU's system on Sunday, severing Soviet-era ties amid heightened security after the suspected sabotage of several subsea cables and pipelines.European Commission President Ursula von der Leyen hailed the move, years in the planning, as marking a new era of freedom for the region, in a speech at…
Trump Postpones Call with Panama's President
U.S. President Donald Trump has postponed a phone call with Panamanian President Jose Raul Mulino due to last-minute changes in the U.S. leader's agenda, Panama's government said on Friday, amid tensions over U.S. threats to take over the Panama Canal.Panama's foreign office will share details on the new date once it has been coordinated, the government said.Mulino has accused the U.S. of spreading…
