EU Report Recognizes Need for Port Investment Stability
The European Parliament has officially adopted the Berendsen report, an own-initiative report on “building a comprehensive European Port Strategy” (585 in favor, 21 against, 26 abstentions).The European Sea Ports Organisation (ESPO) welcomed the support for the strategic and vital role that Europe’s ports play for European society and economy. ESPO supports the Parliament’s plea to further harmonize the measures to strengthen the resilience and protection of Europe’s critical infrastructure…
Van Oord Contracted to Build FSRU Jetty in Germany
Van Oord has been contracted by FSRU Wilhelmshaven, a joint venture between ENGIE and Tree Energy Solution (TES) to construct a Floating Storage and Regasification Unit (FSRU) jetty at Wilhelmshaven in Germany.Responsibility for the operation of the second FSRU-Project in Wilhelmshaven lies with the state-owned Deutsche Energy Terminal GmbH (DET), which is implementing – together with its partners TES and Engie – one of the priority projects backed by Germany’s LNG Acceleration law…
Panama Canal Toll Revenue Shrinking Due to Drought
The Panama Canal's toll revenues have dipped by about $100 million per month since last October, the canal's administrator said on Wednesday, adding that if the trend continues reduced income from tolls could total some $700 million by around April.The falling revenue stems from drought conditions that have forced the canal's managers to impose shipping restrictions on the more than century-old waterway, a key global trade route linking the Pacific and Atlantic Oceans.The canal's fiscal year beg
Another Ship Attack Reported Near Yemen
The United Kingdom Maritime Trade Operations (UKMTO) organization and British maritime security firm Ambrey said on Wednesday they had received reports of incidents near Yemen's Aden.The United Kingdom Maritime Trade Operations (UKMTO) organization said in an advisory note that a ship had been attacked 60 nautical miles southeast of Aden.The "vessel has been hit on port side by an uncrewed aerial system…
RIBCRAFT Delivers Rescue Boat to Fire Department in Maine
The volunteer fire department in Greene, Maine recently took delivery of a 16-foot RIBCRAFT 4.8 rescue boat. This specialized RIB expands the department’s response capabilities while providing a safe platform for rescue missions. Funded by a grant through Firehouse Subs, RIBCRAFT worked with the department to build a boat that met all of their operational requirements.Located on several rivers and lakes in Androscoggin County…
US Lists Houthis as Terrorists, Business Fears Lengthy Red Sea Disruption
The United States on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups, while business chiefs warned that disruption to shipping in the Red Sea caused by their attacks could affect supply chains for months.Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe and alarmed major powers - an escalation of…
Menoyo Joins Great Lakes Towing Company in VP Role
The Great Lakes Towing Company (GLT) has hired Salvadore Menoyo for its business development team.Sal has been named Vice President-Special Projects, reporting to Joe Starck, President of GLT. He will be based in Jacksonville, Fla. and use his extensive experience and expertise to identify, develop and manage new business opportunities on the East Coast, including the Gulf and Puerto Rico. In this new role…
Italy Pushes for Quick Decision on EU Maritime Red Sea Force
Italy would like a political decision made to create an EU maritime security mission for the Red Sea by next week so that it can become operational as soon as possible, its foreign minister said on Wednesday.European Union member states gave initial backing on Tuesday to the mission to protect ships from attacks by Yemen's Iran-aligned Houthi militia in the Red Sea on concern that disruption in one…
EDF Backed EUROGUARD Project Sets Sail in Estonia
The European Defense Fund (EDF)backed EUROGUARD project has officially kicked off in Estonia as Europe seeks to bolter its sea defense capabilities.The project's primary objective is to develop a modular and semi-autonomous surface vessel platform equipped with a remote control system. The initiative aims to enhance Europe's maritime defense capabilities while promoting cooperation and innovation in…
Stena Drilling Takes Delivery of Stena Evolution Drillship
Offshore drilling contractor Stena Drilling has taken delivery of its 7th generation Stena Evolution ultra-deepwater drillship from Samsung Heavy Industries.After a decade in the making, Stena Evolution drillship has finally been completed and is ready for its first job.The technologically advanced drillship is capable of operating at water depths of up to 12,000ft (around 3,500 meters) and drilling depths up to 40…
Fratelli Cosulich Inks Charter Deal for LNG Bunkering Vessel
Italian shipowner Fratelli Cosulich and PETCO Trading Labuan Company Limited (PTLCL), a trading arm of Malaysian energy company Petronas, have signed a two-year charter agreement for Paolina Cosulich LNG bunker barge.Operating under PTLCL, a global energy solutions provider in key bunker hubs with network in Southeast Asia, Japan, Middle East and South Africa, Paolina Cosulich will cater to the increasing…
“This is not a decision against THE Alliance,” says Hapag-Lloyd Chief
Hapag-Lloyd and Maersk signed an agreement for a new long-term operational collaboration called Gemini Cooperation, aiming to start in February 2025.Simultaneous with the announcement, Hapag-Lloyd informed its partners in THE Alliance that it would end its participation in January 2025. In a press call with journalists, Rolf Habben Jansen, CEO, Hapag-Lloyd stressed this is “not a decision against THE Alliance…
Shell Halts All Red Sea Shipments
British oil major Shell suspended all shipments through the Red Sea indefinitely after U.S. and U.K.
Esvagt to Build New SOV to Service Dutch Offshore Wind Farm
Danish vessel owner Esvagt has secured a service contract with Vestas for Ecowende’s Hollandse Kust (west) offshore wind farm in the Netherlands, and started the process of designing and building the new service operation vessel (SOV).The newbuild will be the sixth purpose-built SOV for Vestas, reaffirming the partnership between the two companies that have been cooperating since 2010.The Hollandse Kust (west)…
OPINON: Tackling the Houthi Drone Threat with AI
Houthi rebel drone attacks on vessels traversing the Red Sea and Suez Canal route, accounting for 10% of global trade, have exposed the shortcomings of current ship alert systems.The unpredictability and increased frequency of these attacks have created a challenging security environment for ships passing the area via the Bab el Mandeb strait, posing a substantial risk to seafarers and maritime trade…
Product Tanker Scrapping Drops 82%
“In 2023, only seven product tankers with combined deadweight tonnes (DWT) capacity of 265,000 were recycled. This was a year-on-year drop of 82% compared to 1.5 million DWT (27 product tankers) recycled in 2022. It was also the lowest level of recycling seen since records began in 1996,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.Strong earnings and second-hand values, as well as a reduction in newbuilding deliveries…
ClassNK Gives AiP for Yanmar’s Maritime Hydrogen Fuel Cell System
ClassNK has issued an Approval in Principle (AiP) for a maritime hydrogen fuel cell system developed by YANMAR Power Technology, marking the first AiP certification for a maritime hydrogen fuel cell system developed by a Japanese manufacturer.The 300kW maritime hydrogen fuel cell system, developed by Yanmar, is designed with key auxiliary components such as gas valve units integrated within the system enclosure, aimed to facilitate easy installation on ships.On top of that, the system allows for
Hunter Group Signs Charter for Eco-Design VLCC
Norwegian shipowner Hunter Group has entered into a three-year back-to-back charterparty for an eco-design and scrubber fitted Very Large Crude Carrier (VLCC) with an internationally renowned counterparty.Delivery of the 2016-built vessel is expected to take place during March/April 2024.The company will charter the vessel in at a fixed rate of $51,000 per day, before subsequently chartering the vessel…
Maersk and Hapag-Lloyd Set Up Operational Cooperation
Shipping industry majors Hapag-Lloyd and Maersk have signed an agreement for a new long-term operational collaboration called ‘Gemini Cooperation’, which will start in February 2025.The ambition is to deliver a flexible and interconnected ocean network with industry-leading reliability.The new cooperation between the companies will comprise a fleet pool of around 290 vessels with a combined capacity of 3.4 million containers (TEU).
ONE Orders 12 Methanol Dual-Fuel Containerships
Japanese shipping company Ocean Network Express (ONE) has signed shipbuilding contracts with Jiangnan Shipyard and Yangzijiang Shipbuilding for the construction of 12 13,000 TEU methanol dual-fuel containerships.Each shipyard will build six vessels and are all scheduled to be delivered from 2027. The order represents ONE’s inaugural fleet of methanol-dual fuel vessels and plays a key role in reaching…
