Hapag-Lloyd to Seek Cost Cuts After Net Profit Slump
German container shipper Hapag-Lloyd said on Thursday the global oversupply of container ships and a crisis in the Red Sea will force it to cut costs in 2024, adapting sailings and ports following a bruising 83% fall in net profit.Ship operators face prolonged disruption while Yemen-based Houthi militants are attacking vessels travelling on one of the world's busiest routes, wiping out the benefit from higher freight rates with costly redirections around Africa.Hapag-Lloyd's problems chime with
Royal Caribbean Suspends Cruise Visits to Haiti's Labadee
Royal Caribbean Group has suspended cruise visits to Labadee, a secluded peninsula in Haiti, for the next seven days following months of escalating gang violence in the country, a senior company executive said in a Facebook post on Thursday.The company will continue the suspension as required with three days advance notice to guests sailing on impacted itineraries, Royal Caribbean International President and CEO Michael Bayley said.Violence by powerful armed gangs had gripped Haiti, causing thou
Hijacked Ship May Have Been Used in Attack near Somalia
Somali pirates who seized the Maltese-flagged bulk cargo ship Ruen in December may have used the vessel in the takeover of a Bangladesh-flagged cargo ship off the coast of Somalia two days ago, the European Union naval force said on Thursday.Somali pirates caused chaos in important global waterways for a decade leading up to 2018, but had been dormant until a resurgence of attacks starting late last year.If confirmed…
Houthis Vow to Attack More Shipping Lanes
The leader of Yemen's Houthis, Abdul Malik al-Houthi, said on Thursday the group's operations targeting vessels will escalate to prevent Israel-linked ships from passing through the Indian Ocean towards the Cape of Good Hope."Our main battle is to prevent ships linked to the Israeli enemy from passing through not only the Arabian Sea, the Red Sea and the Gulf of Aden, but also the Indian Ocean towards the Cape of Good Hope.
Conrad to Build Another US Navy Berthing Barge
U.S. Naval Sea Systems Command has exercised an option with Conrad Shipyard to build another Yard, Repair, Berthing, and Messing (YRBM) barge.The award is a $18,484,619 firm-fixed-price modification to a previously awarded contract for the detail design and construction and includes exercise of a design changes option.Work will be performed in Amelia, La., and is expected to be completed by June 2025.
Ørsted Powers Up All Turbines at First US Commercial-Scale Offshore Wind Farm
Ørsted has installed and powered up all 12 turbines at the landmark South Fork project, and the first utility-scale U.S. offshore wind farm has started delivering power to Long Island and the Rockaways, offshore New York.The commissioning of the wind farm is in its final stage, and when at full capacity of 130 MW, it will generate enough renewable energy to power approximately 70,000 homes.The renewable energy is generated roughly 35 miles off the coast of Montauk…
TotalEnergies Renews Contract for Bibby WaveMaster 1 SOV’s Services
Bibby Marine has secured a three-year contract extension with long-standing client TotalEnergies EP Nederland for its ‘walk-to-work’ service operation vessel (SOV) Bibby WaveMaster 1.The three-year charter extension will begin in the first quarter of 2025, and the vessel will be deployed on the Dutch continental shelf in the Southern North Sea.The SOV will continue to accommodate and transport service engineers and maintenance personnel…
HaiSea Unveils New Operations Facility for Its Green Tug Fleet
HaiSea Marine, majority owned by Haisla Nation in partnership with Seaspan ULC, is celebrating the official naming and blessing of its new floating operations facility – which will be the home base for its fleet of three full-electric and two liquefied natural gas (LNG)-fueled tugboats.The new facility, named Zewén, is a floating operations and maintenance building purpose-built and designed to withstand the extreme tidal range in the Kitimat region.
PPG Unveils New ‘Ultra Low-Friction’ Vessels Coating
PPG has launched the PPG NEXEON 810 coating, described as an innovative copper-free antifouling coating developed with a strong emphasis on vessel performance, emissions reduction and sustainability.Independent tests, following ISO 19030 and International Towing Tank Conference standards, have confirmed that the ultrasmooth surface of PPG Nexeon 810 coating can yield an immediate boost in power of up to 10% and enhance operational efficiency by up to 15%…
Seapath Launches Jones Act Leasing Business
Libra Group subsidiary Seapath has launched a Jones Act leasing business offering maritime leasing and financing solutions and a growing portfolio of vessels valued at approximately $25 million.The group said it sees significant unmet demand for the supply of Jones Act compliant transport assets.Joshua Lubarsky, president of Seapath, said, “Domestic maritime transportation is the backbone of the U.S. transportation system.
MAN Energy Solutions Delivers First Ever Ammonia-Ready SCR to Mitsui
MAN Energy Solutions has announced the production of a massive Cluster 5 Double Layer Selective Catalytic Reduction (SCR) converter to MITSUI E&S.The cluster comes ammonia-ready and is the largest such unit that the company has ever built.Such systems are typically used aboard cruise ships and cargo ships to reduce nitrogen oxide emissions by 90%.“As the very first SCR for an ammonia engine anywhere in the world, this is a historic moment.
Taiwan and China Launch Rescue Operation After Boat Capsizes Near Sensitive Islands
Taiwan dispatched coast guard boats on Thursday to join a rescue mission at China's request after a fishing vessel capsized near the Taiwan-controlled Kinmen islands, amid heightened tension in the sensitive Taiwan Strait.China claims democratically-governed Taiwan as its own territory, over the island's strong objections, and has stepped up military activities near it in recent years, with almost daily incursions into air defence identification zones.Authorities on both sides sent the rescue bo
Wärtsilä Inks Lifecycle Agreement with P&O Ferries for Two Vessels
Technology group Wärtsilä has signed a Lifecycle Agreement with UK-based P&O Ferries for two of its vessels – the M/V Pioneer and the M/V Liberté.The scope of the five-year agreement the Lifecycle Agreement with P&O Ferries includes parts and maintenance services, as well as maintenance planning, operational support and Wärtsilä’s Expert Insight predictive maintenance service.The predictive service enables issues to be identified before they cause a delay in the schedule.
NYK and Astomos Energy Christen New Jointly-Owned Dual-Fuel LPG Carrier
As their first jointly owned liquefied petroleum gas (LPG) carrier in 21 years, NYK and Astomos Energy have named the new vessel Gas Garnet.The companies held a naming ceremony at the Sakaide Works of Kawasaki Heavy Industries on March 1, 2024.The 86,953 m3 capacity vessel was christened Gas Garnet by Yoshihito Takahashi, senior executive officer of Astomos Energy. This is the first jointly owned LPG…
Ships Above 12,000 TEU Drive 100% Increase in Average Ship Size
Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU has accounted for 51% of the fleet’s capacity expansion. Today, just 626 ships provide 36% of the fleet’s capacity, and the trend is set to continue as the large ships dominate the order book, says Niels Rasmussen, Chief Shipping Analyst at BIMCO.When the Emma Maersk was delivered in August 2006, the ship was by far the largest container ship in the world.
Equinor Extends Drilling Contracts
Equinor, on behalf of the partners, is exercising two options to extend contracts with Archer AS, KCA Deutag Drilling Norway AS and Odfjell Operations AS for a total of four years.The options for drilling services on fixed installations on the Norwegian continental shelf provide jobs for 2,000 people per year and have an estimated value of NOK 18.4 billion.The contracts were signed in 2018 with three option periods of two years. The first two-year option was exercised in 2022.
Danish Shipping Adopts Policy on Underwater Radiated Noise
Commercial shipping is one of the main contributors to underwater radiated noise, which has adverse effects on a wide range of marine life, including whales and fish. Therefore, Danish Shipping has recommended its members follow a new set of IMO guidelines aiming to reduce underwater radiated noise and preserve marine biodiversity.The IMO guidelines provide an overview of approaches applicable to designers…
New UTM Payload Available for Scout 137 Drone System
ScoutDI has added an ultrasonic thickness measurements (UTM) payload, complete with in-flight A-scan, to the capabilities of its end-to-end inspection data solution for the Scout 137 drone.The product is suitable for offshore applications where drones are becoming common for visual inspection and steel plate thickness sampling must be done regularly to monitor e.g. the effects of corrosion over time.Adding…
Zim Reports Fourth Quarter Loss
ZIM Integrated Shipping Services has announced consolidated results for the three and 12 months ended December 31, 2023, noting a net loss for the fourth quarter of $147 million (compared to a net profit of $417 million in the fourth quarter of 2022).The net loss for the full year, including a $2.06 billion non-cash impairment loss, was $2.69 billion (compared to a net profit of $4.63 billion for the full year of 2022).Adjusted EBITDA for the fourth quarter was $190 million…
Second Russian Tanker, Hit by Sanctions, Docks in China
Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.This is the second Russian oil tanker, hit by sanctions, to dock at Chinese ports this month. Last week, tanker Liteyny Prospect discharged its 700,000-barrel…