Esgian Week 14 Report: Major Jackup Contract Suspensions
Esgian reports various drilling contractors disclosing details of discussions with Saudi Aramco regarding jackup contract suspensions in its Week 14 Rig Analytics Market Roundup. These contractors include Shelf Drilling, ADES, Borr Drilling, Arabian Drilling, COSL, and ARO Drilling.Meanwhile, Transocean, Noble, and COSL rigs have firmed up new work in the US Gulf of Mexico, Suriname, and the North Sea…
DNV Issues General Approval for Hybrid Support Structure
DNV has presented HD Hyundai with a general approval for ship application (GASA) for a new high-strength composite hybrid support system for independent tanks on liquefied gas carriers.In a world-first, HD Hyundai’s concept is fabricated with a fusion of carbon fiber-reinforced plastics (CFRP) with a tensile strength 10 times greater than steel, significantly enhancing structural stability.The new system offers robust structural supports…
DNV: Five Alternative Fueled Vessels Ordered in March
According to the latest figures from DNV’s AFI platform, five new orders for alternative fueled vessels were confirmed in March 2024: two methanol, two ammonia and one LNG.Although this was a quiet month for the ordering of alternative fueled vessels, the overall trend remains strong, says DNV. For the first three months of 2024, 68 orders for alternative fueled vessels were made, compared to 44 in the first three months of 2023…
Royal Navy Ship to Help Boost Aid for Gaza
A British Royal Navy ship will supply aid to Gaza as part of an international effort to help set up a new humanitarian maritime corridor in early May, the foreign office and ministry of defence said on Saturday.The multinational effort, involving the United States, Cyprus and other partners, will develop a new temporary pier off the coast of Gaza, British foreign minister David Cameron said."The situation in Gaza is dire and the prospect of famine is real.
Nine Injured in Pemex Platform Fire
Mexico's state energy company Pemex said on Saturday that a fire broke out at one of its platforms in the Gulf of Mexico, adding that it had activated emergency protocols and contained it but that nine workers were injured in the accident.Pemex said in a statement that two of the workers were its own employees and seven were from other companies, adding that none were severely injured.The fire broke…
First Containers Removed from Dali
The Unified Command began to remove containers onboard M/V Dali at the Key Bridge incident site, Sunday. Salvors removed containers from the Dali as part of the effort to gain access to the portion of the Key Bridge that lies atop the ship. The transfer of containers from the Dali will continue in the coming days, as weather permits.The removal of the containers is a critical step required to safely move the Dali and eventually fully re-open the Fort McHenry Channel.
Houthis Say They Targeted Western Ships
Houthi forces in Yemen said on Sunday they had launched rockets and drones at British, U.S. and Israeli ships, the latest in a campaign of attacks on shipping in support of Palestinians in the Gaza war.The Iran-aligned group said it had targeted a British ship and a number of U.S. frigates in the Red Sea, while in the Arabian Sea and Indian Ocean it had attacked two Israeli vessels heading to Israeli ports.The operations took place during the last 72 hours…
Divers Recover Body in Baltimore
Unified Command dive teams have recovered the body of a missing person at the Key Bridge incident site in Baltimore.The recovered individual was identified as 38-year-old Maynor Yasir Suazo-Sandoval.Unified Command salvage dive teams located what they believed to be the missing construction worker and notified the Maryland Department of State Police. Maryland State Police Underwater Recovery Team deployed…
All FMC Statutes & Regulations in Full Effect Following Baltimore Bridge Collapse
The U.S. Federal Maritime Commission (FMC) on Friday issued a notice reminding regulated entities that all statutes administered by the agency remain in effect while disruption to regular service at the Port of Baltimore is causing many shippers to adjust supply chain operations.Common carriers and marine terminal operators (MTOs) must continue to comply with all statutory and regulatory requirements governing their operations, the FMC said.Demurrage and detention fees must be reasonable.
OpEd: Why the Wall Street Journal Got It Wrong and 74% of Their Poll Respondents Got It Right
A recent article in The Wall Street Journal claims that the assessment by 74% of poll respondents in election swing states who believe inflation moved in the wrong direction last year is incorrect. The piece went on to state that the respondents’ perceptions were “contradicted by hard economic data”.Like many of us, I just love “hard data”, especially when it’s “economic”.One great aspect of “hard data” is that we must assume it’s correct; otherwise, how could it be “hard”?
Baltic Dry Index Falls for Third Week
The Baltic Exchange's dry bulk sea freight index fell on Friday to log its third straight weekly decline, weighed down by a dip in rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 41 points or 2.5% to 1,628 points, its lowest level in seven weeks.The index was down over 10% for the week.The capesize index was down by 80 points, or 3.4%, at 2,274.
Baltimore Can Use Grant to Boost Cargo Shipments
The U.S. Transportation Department on Friday said it reached an agreement with Baltimore County to revise an $8.26 million grant agreement to enable Tradepoint Atlantic (TPA) to accommodate more cargo.Repurposing the funds will allow a boost in cargo to Sparrows Point at the Port of Baltimore, which is outside the area affected by last week’s collapse of Baltimore’s Francis Scott Key Bridge and continues…
Japanese Partner Up on Anti-Roll Tank Research for Large Containerships
ClassNK has signed a joint R&D agreement with Nihon Shipyard and IMC to ensure the safety and performance evaluation of anti-roll tanks (ART) installed on large containerships.Under the R&D agreement, Nihon Shipyard, IMC, and ClassNK will work together to expand the application of ART to large containerships.Utilizing the obtained data and knowledge, each party will collaborate to ensure the safer application of ART on an actual ship and performance evaluation.AS part of the partnership…
MDL Assists Saipem on Gastrade’s LNG Development Off Greece
Maritime Developments (MDL) has assisted Saipem in progressing an LNG project offshore Greece, which included work on the connection of Gastrade’s Alexandroupolis floating storage regasification unit (FSRU) to the country’s gas transmission system.The project consisted of a FSRU and a mooring and pipeline system, connecting the floating unit to the Greek National Natural Gas Transmission System (NNGTS).An MDL flex-lay spread was used for the installation of two flexible risers…
SEACOR Marine Upgrades PSV with Hybrid Battery Power System
U.S.-based SEACOR Marine has completed the installation of a hybrid power system on its platform supply vessel (PSV) SEACOR Yangtze.Beginning in February 2024 in Norway, Kongsberg Maritime started the upgrade of the UT771 CDL SEACOR Yangtze with the Deckhouse Energy Storage System.The installation of the system has been completed, SEACOR Marine informed on April 4, 2024, adding to its fleet of hybrid battery-powered PSVs.To remind, SEACOR Marine announced it will convert four other of its PSVs t
MOL Puts FSRU for Indonesia's Jawa 1 LNG Power Plant Into Operation
Mitsui O.S.K. Lines (MOL) has started commercial operation of the floating storage and regasification unit (FSRU) Jawa Satu for the Jawa 1 LNG-fired power plant in Indonesia.MOL owns the FSRU through PT Jawa Satu Regas (JSR), jointly established by PT Pertamina (Persero), Marubeni Corporation, Sojitz Corporation, and other partners.Built by Samsung Heavy Industries in South Korea, the Jawa Satu FSRU has a storage capacity of 170…
Demand Shocks Drive Ship Recycling to Lowest Level in 20 Years
Over the past eight quarters, ship recycling of bulkers, tankers and container ships has dropped to the lowest level in 20 years. “A combination of strong demand following a series of market shocks and low orderbooks have kept older ships operating for longer than usual,” says Filipe Gouveia, Shipping Analyst at BIMCO.During the first quarter of 2024, only two million deadweight tonnes (DWT) ship capacity were recycled.
Hualien Port Operations Suspended After Taiwan Earthquake
A magnitude 7.2 earthquake struck northeast Taiwan on April 3, causing several wharfs at Hualien port on the east coast to bulge.The affected wharfs are used for sand, bulk cargo discharging, and cruise operations. As a result, port operations are currently suspended, and vessels are only permitted to depart, not enter. Apart from Hualien, no damage has been reported at other ports across Taiwan.Reuters reports that the earthquake…
Con Edison, NGV Propose Offshore Wind Project for New Jersey
Con Edison Transmission and National Grid Ventures submitted a plan to carry offshore wind power to New Jersey's electric grid as the state aims to meet renewable energy goals, according to a press release on Thursday.If awarded, the 'Garden State Energy Path' proposal involves building transmission infrastructure that would be operational by early 2029 and deliver about six gigawatts (GW) of offshore wind power, Con Edison said."This project is foundational to helping New Jersey reach its goal
Baltimore Shipping Set to Resume by End of April
The U.S. Army Corps of Engineers said Thursday it expects to open a new channel to the Port of Baltimore by the end of April, freeing up commercial shipping blocked by a collapsed bridge, and then restore port access to full capacity by the end of May.The main channel has been blocked by wreckage since the fully loaded container ship Dali lost power and rammed into a support column of the Francis Scott Key Bridge on March 26…