$73.77 Million Grant a Boost for Port NOLA & Inland Waterway Shipping
The Port of New Orleans (Port NOLA) will receive $73.77 million from the federal government to assist in building the Louisiana International Terminal (LIT) project, which will provide a gateway for cargo movement on U.S. inland waterways including the Mississippi River.The U.S. Department of Transportation has alerted Congress that it intends to award this funding through its MEGA Grant Program, which…
Houthi Leader Threatens to Attack US Warships
The leader of Yemen's Houthis warned on Wednesday they would strike U.S. warships if the Iranian-backed militia was targeted by Washington, which this week set up a multinational force to counter Houthi attacks on commercial vessels in the Red Sea.The Houthis, which control vast amounts of territory in Yemen after years of war, have since last month fired drones and missiles at international vessels sailing through the Red Sea…
Stolt Tankers is First to Apply Graphene Hull Coating Technology
Stolt Tankers reports it is the first shipping company in the world to apply a cutting-edge sustainable coating to the hull of one of its vessels.The X-GIT FUEL graphene technology, developed by Graphite Innovation & Technologies (GIT) Coatings, has the potential to reduce fuel consumption and resulting greenhouse gas emissions.X-GIT FUEL is a hard foul release hull coating that creates an ultra-low friction surface to increase vessel performance…
China’s First Domestically Built Cruise Ship Delivered
The first large cruise ship ever to be built in China has been delivered, potentially leading the way for a new market player to rise within the global cruise shipbuilding industry.The 5,246-passenger Adora Magic City, built by China State Shipbuilding Corporation’s (CSSC) Shanghai Waigaoqiao Shipbuilding (SWS) based on Fincantieri' Vista-class design, will commence its maiden voyage from Shanghai in January 2024…
What Do MARAD Title XI Changes Mean for Offshore Wind?
The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices. In particular, the amendments aim to move away from inflexible static metrics and Title XI’s limited amortization requirements.
Top 10 Things to Watch in Offshore Wind in '24
Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look at 10 factors that will shape the offshore wind sector in 2024.1. A Continuously Dynamic Energy TrilemmaThe dynamic relationship of the three key drivers of affordable energy…
Greece Advises Vessels to Avoid Yemeni Waters After Red Sea Attacks
Greece has advised commercial vessels sailing in the Red Sea and the Gulf of Aden to avoid Yemeni waters, keep only the necessary crew on the bridge and follow alerts issued by maritime authorities to avoid attacks in the area.Greek ship-owners control about 20% of the world's commercial vessels in terms of carrying capacity.A shipping ministry advisory was issued on Saturday, as recent attacks by…
Solstad Pays $4M for Normand Tonjer Vessel Buyback
Solstad Offshore has exercised its option to purchase the construction support vessel (CSV) Normand Tonjer.The vessel was bought from the Norwegian Mpsv for the net amount of $4 million.In 2021, Normand Tonjer was sold to Mpsv for a gross amount of $10 million and leased back on a bare boat agreement for a firm three-year period with options for two one-year extensions.At the end of year two, Solstad had an option to buy the vessel back for which was concluded on December 20…
NYK to Install Energy-Saving Technology on LNG-fueled Car Carriers
Japanese shipping company NYK has unveiled plans to install a Variable Compression Ratio (VCR) system on LNG-fueled car carriers in an effort to reduce greenhouse gas emissions and cut fuel costs.NYK said it will include a VCR system on LNG-fueled car carriers to be built by Shin Kurushima Dockyard, with the first vessel scheduled for delivery in 2026.The system is said to be able to adjust the air…
ABS Signs Electric Tugboat MoU
ABS joined Garden Reach Shipbuilders and Engineers (GRSE), Seatech Solutions International and Shift Clean Energy in signing a memorandum of understanding (MoU) to develop electric tugboats, part of an initiative to achieve India’s goal of becoming the ‘Global Hub for Green Shipbuilding’ by 2030.The proposed E-VOLT 50 tug aims to reduce carbon emissions, improve operational efficiency and set new benchmarks…
Malaysia to Ban ZIM From its Ports
Malaysia will ban Israeli shipping company ZIM from docking at any of its ports effective in four weeks, Prime Minister Anwar Ibrahim said on Wednesday."This restriction is a response to Israel's actions that violate basic humanitarian principles and international laws," Anwar said in a statement, referring to its military response in Gaza to a deadly incursion in southern Israel in October by Hamas militants.(Reuters - Reporting by Danial Azhar; Editing by Martin Petty)
IMO Workshop Advances Life Cycle Intensity of Fuels
An Expert Workshop on the life cycle GHG intensity of marine fuels (GHG-EW 4) was organized by IMO December 14-15, 2023, to support the further development of the IMO life cycle GHG intensity assessment (LCA) framework.The workshop focused on the sustainability, certification and third-party verification of marine fuels.In adopting the IMO LCA Guidelines, MEPC 80 in July 2023 requested the Secretariat…
Markets Spike Following Houthi Attacks on Shipping
Continued missile attacks on merchant ships in the Red Sea have plunged supply chains into chaos, and consumers around the world will have to pay the price, according to Xeneta.Latest data from the industry analyst shows spot rates in the ocean freight shipping market spiked by 20% since Friday after major shipping liner companies such as Hapag Lloyd, MSC and Maersk announced they are avoiding the Red Sea amid the attacks by Houthi militia.Xeneta chief analyst Peter Sand said…
Some LNG Carriers Avoiding the Red Sea as Attacks Increase
Several liquefied natural gas (LNG) vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.The Red Sea is linked to the Mediterranean by the Suez Canal, creating the shortest shipping route between Europe and Asia, and is connected to the Gulf of Aden by the Bab-el-Mandeb strait between Yemen and Djibouti.
Attacks on Ships in Red Sea Must Stop, White House Says
Attacks by Iran-backed Yemeni militants in the Red Sea must stop and the U.S. and its partners will continue to protect ships from being targeted, White House national security spokesperson John Kirby said on Tuesday.The Houthi militant group, which controls vast amounts of territory in Yemen after years of war, has since last month fired drones and missiles at international vessels sailing through the Red Sea…
Moose Boats Delivers New Fireboat to Alameda City FD
Vallejo ,Calif. boatbuilder Moose Boats announced it has delivered a new fireboat to the Alameda City Fire Department (AFD) located in Alameda County, Calif.According to the builder, the new Moose M2-38 fireboat is the most powerful ever assembled, running on twin Cummins turbo charged QSB 6.7L 480HP engines with Twin Disc Transmissions and Hamilton HJX 29 waterjets. The boat can reach speeds up to…
How Could Red Sea Attacks Affect Oil and Gas Shipping?
Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world's main East-West trade route, following attacks launched by Yemen's Houthi group on commercial ships at the southern end of the Red Sea.The attacks raised the specter of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led international…
OSG to Install Starlink Fleetwide
U.S. shipping company Overseas Shipholding Group (OSG) announced it will equip all vessels in its fleet with Space X’s Starlink satellite internet service in a move that aims to enhance onboard connectivity for seafarers.Since the introduction to the market of Starlink’s Global Maritime service earlier this year, OSG’s IT department has worked to substantially complete installation of Starlink equipment on every vessel in the fleet of OSG and ATC…
Exmar Announces Leadership Change
Carl-Antoine Saverys has been named CEO of listed Belgian shipowner Exmar, the company announced Tuesday. Effective January 1, 2024, he will take over from Francis Mottrie who will stay on board as COO.After assuming various roles in the shipping industry, Carl-Antoine Saverys has held deputy roles within Exmar over the past six years, including the company’s infrastructure department and thereafter at the shipping department.Joining him at the executive top level are newly appointed CFO…
Fincantieri Cuts Steel for Italian Navy's New Oceanographic Ship
Italian shipbuilding group Fincantieri held a steel cutting ceremony to mark the start of construction on a new Hydro-Oceanographic Ship (N.I.O.M.) for the Italian Navy.Scheduled for delivery from the integrated shipyard in Riva Trigoso-Muggiano in 2026, the new vessel is intended for mapping and scientific monitoring activities, as well as in support of the initiatives of the Hydrographic Institute…
