Egypt Studying Further Expansion of Suez Canal
Egypt is studying further expansions of the Suez Canal to extend and complete a second channel of the waterway, the canal's head said on Monday, a move that could allow for higher volumes of shipping and prevent blockages from halting traffic.The comments come as the canal is seeing a sharp fall in revenue due to shipping companies diverting away from the waterway, the shortest route between Europe and Asia, because of attacks by Houthi militants in Yemen against ships in the Red Sea.Any new ext
Risk Reigns in Ocean Shipping, Industry and Economic Experts Say
Risk is the "new normal" for the global ocean shipping industry that handles 80% of global trade as pressure from geopolitical tensions, rising protectionism and climate change mounts."There are going to be global tensions ... and I think global dangers, at a level we haven't seen since the end of World War II," former U.S. Defense Secretary Robert Gates said at the opening of S&P Global's TPM24 container shipping conference in Long Beach…
Ships Entering Yemeni Waters Must Obtain Permit, Houthi Minister Says
Ships will have to obtain a permit from Yemen's Houthi-controlled Maritime Affairs Authority before entering Yemeni waters, Houthi Telecommunications Minister Misfer Al-Numair said on Monday.Houthi militants have repeatedly launched drones and missiles against international commercial shipping in the Gulf of Aden since mid-November, saying they are acting in solidarity with Palestinians against Israel's…
BRIX Marine Launches Survey Boat Lugudi Barana
Port Angeles, Wash. boatbuilder BRIX Marine announced the launch of its latest survey boat, the 3011-CTC, named Lugudi Barana.The hull features 5086 alloy aluminum hull skins, 5052 alloy aluminum interior transverse frames, and longitudinal T-bars, ensuring reliability even in challenging conditions, the builder said. The vessel's self-bailing aluminum decks, watertight bulkheads and anodes for cathodic…
Fjord1 Orders Autonomous Zero-emission Ferries
Norwegian ferry operator Fjord1 has ordered a series of four autonomous zero-emission ferries to operate the Lavik-Oppedal crossing on the northwest coast of Norway.The newbuilds were designed by Norway-based HAV Design and will be built by Tersan Shipyard in Turkey.According to HAV Design, which will deliver ship design and an engineering package for all four vessels, said the design is based on a future-oriented operating concept developed alongside Fjord1.
Port of Long Beach Opens New Fireboat Stations
Officials dedicated two new Port of Long Beach fireboat stations that are enhancing the Long Beach Fire Department’s waterside and landside emergency response capabilities, better safeguarding visiting ships, cargo and waterfront workers.The facilities – Fireboat Station 15 and Fireboat Station 20 – are the products of a $109 million Port of Long Beach program to preserve business continuity, security and economic interests.
Italian Naval Ship Shoots Down Drone in Red Sea
An Italian navy ship shot down a drone flying towards it in the Red Sea on Saturday, the defence ministry said.A ministry statement described the action as self-defence by the Duilio, which is helping protect trade routes from drone and missile attacks by Yemen's Houthi militia."The drone, with similar characteristics to those already used in previous attacks, was about 6 km (3.73 miles) from the Italian ship…
ABB Azipod DI Propulsion System Gets ABS Approval
The American Bureau of Shipping (ABS) has granted approval in principle (AIP) to ABB for its Azipod DI with a capacity of up to 4.5 MW and ice class PC3.ABB called the approval "a significant milestone", as the Azipod DI propulsion system is now ready to power future icebreakers in the North American market as demand for icebreakers on the rise."Our long-standing and fruitful cooperation between ABB…
HII Completes Acceptance Trials on Richard M. McCool Jr. (LPD 29)
HII’s Ingalls Shipbuilding division on Monday announced it has completed acceptance trials in the Gulf of Mexico for amphibious transport dock Richard M. McCool Jr. (LPD 29), the final Flight I transition ship before Ingalls moves into serial production of the LPD Flight II line.The Ingalls’ Test and Trials team spent several days with the U.S. Navy’s Board of Inspection and Survey running the ship at full power and through steering maneuvers.
War Insurers Shrug off Rubymar Sinking in Red Sea, Rates Stable
The cost of war risk insurance through the Red Sea remained stable on Monday despite the sinking of the Rubymar cargo ship as underwriters had already factored in the casualty after it was first hit by a missile last month, industry sources said.The cost of insuring a seven-day voyage through the Red Sea has risen by hundreds of thousands of dollars since Yemen's Iran-aligned Houthis began attacking…
Iridium Acquires Satelles
Iridium Communications has entered into an agreement to acquire Satelles, Inc., a leader in secure satellite-based time and location services that complement and protect GPS and other GNSS-reliant systems. The service, named Satellite Time and Location (STL), is designed as an easy-to-adopt, secure solution that increases the efficiency and reliability of timing systems for digital infrastructure like 5G base stations…
Odfjell Completes Terminal Expansion in Houston
Odfjell Terminals US (OTUS) reports it has completed the construction and commissioning of its Bay 13 at the Houston Terminal (OTH), adding nine new tanks, with a combined capacity of 204,000 barrels. The new tanks are a combination of stainless steel and carbon steel, and each tank has been engineered with positive pressure systems and full automation, Odfjell said. The newly commissioned bay is specifically designed for the storage needs of specialty chemical products…
Houthi Attacks Having Limited Impact on Israeli Trade, Prices - Ministry
Attacks by Yemen's Iran-backed Houthis on cargo ships in the Red Seas are having limited effect on trade to Israel and have not led to any significant inflationary pressures, Israel's Finance Ministry said in a report on Monday.Houthi militants have repeatedly launched drones and missiles against international commercial shipping in the Gulf of Aden since mid-November, saying they are acting in solidarity…
Fincantieri Joins MIT Industrial Liaison Program
Fincantieri joined the Industrial Liaison Program (ILP) of the Massachusetts Institute of Technology (MIT), a collaboration that is part of the route towards the implementation of the 2023-2027 Industrial Plan.MIT's Industrial Liaison Program is a program based on the membership of large organizations interested in long-term strategic relationships with the Massachusetts Institute of Technology.The…
MOL Wraps Up Fairfield Chemical Carriers Acquisition
Mitsui O.S.K. Lines (MOL) has, through its subsidiary MOL Chemical Tankers, completed the acquisition of Fairfield Chemical Carriers, creating one of the world’s largest multi-segregated chemical tanker fleets.The acquisition, valued at $400 million, is based on a share transfer agreement signed at the end of September 2023, which has been approved by the relevant authorities under competition law.The transaction is in line with MOL’s plan to proactively invest in chemical tanker business…
After Failed Voyage, 14,500 Australian Livestock Sail Again for Israel
Around 14,500 livestock sailed from Australia to Israel on Sunday for the second time, two months after their first voyage was curtailed by the threat of attack by Houthi militants in the Red Sea.The animals left Fremantle port in Perth on Jan. 5 but halfway to the Middle East, their ship abandoned its route and was ordered home by the Australian government.The turn-back was part of the havoc wrought…
MAN to Offer Ammonia-Fuelled Ship Engines After 2027
MAN Energy Solutions plans to deliver later this year its first-ever engine fuelled by ammonia for installation on a new vessel in Japan and will be ready to offer ammonia-powered engines to its clients after 2027, its chief executive said.Ammonia is among several alternative fuels that shippers are exploring to reduce emissions. The shipping industry transports around 90% of world trade, but accounts for nearly 3% of the world's carbon dioxide emissions…
Eight Japanese Ports Join The Green Award
The Green Award Foundation has announced that eight ports managed by the Osaka Ports and Harbors Bureau have joined as new Incentive Providers, offering discounted port fees to Green Award certified vessels that call their ports.This expands The Green Award’s network to 47 ports incentivising safety and sustainability in shipping globally.Among the eight new Japanese ports are the Port of Sakai-Senboku and Port of Hannan, two major industrial ports situated in the Osaka Bay.
Recycling Market Still Deprived of Tonnage
As freight markets push further on, global ship recycling markets remain deprived of tonnage, making it an increasingly suffocating environment for ship recyclers to operate in, reports cash buyer GMS.Bangladesh and Pakistan rely heavily on imported ship’s steel, not only for domestic / large-scale infrastructure projects, but also for its comparatively ‘healthier’ and ‘rust-free’ condition than other forms of imported scrap metal / steel (HMS 1…
Esgian Week 9 Report: Dolphin, Diamond and Seadrill Updates
Esgian reports rig-related updates from Dolphin Drilling, Diamond Offshore, and Seadrill in its Week 9 Rig Analytics Market Roundup.Report Outline:ContractsDespite Tullow Oil’s recent announcement that it would take a break from drilling offshore Ghana, Noble Corp. has stated that there has been no contract termination announcement and that its 12,000-ft drillship Noble Venturer is currently still…