Suez Canal Signs Green Methanol MoU
Egypt's Suez Canal economic zone and Scatec ASA have signed a memorandum of understanding (MoU) worth $1.1 billion to supply ships with green fuel, a Suez Canal statement said on Sunday.The MoU agreed on the sidelines of the COP28 conference held in Dubai envisages production of 100,000 tonnes of green methanol per year by 2027, the statement said.(Reuters - Reporting by Yusri Mohamed Editing by David Goodman)
Houthis Attack Commercial Ships, US Warship in the Red Sea
The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, as Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area."We're aware of reports regarding attacks on the USS Carney and commercial vessels in the Red Sea and will provide information as it becomes available," the Pentagon said.Yemen's Houthi movement said its navy had attacked two Israeli ships…
Gensets: New Fuels but Perennial Goals
Fuel flexibility may be a key driver for recent developments in gensets, but the perennial goals of lowering CapEx and OpEx remain.Fuel flexibility is one of the pillars of decarbonization that is being embraced by genset OEMs. Fuel efficiency, a second pillar, goes hand in hand with that because new fuels will be more expensive, but these concerns come in addition to the on-going drive to reduce CapEx…
JIP to Advance Offshore Wind Concrete Floater Standards
DNV secured partners to launch a new project to enhance technology development and prepare for scale/industrialization of concrete substructures for floating offshore wind.The new Joint Industry Project (JIP) called Concrete FLOW will optimize requirements for concrete floaters (floating or semisubmersible structures, generally moored to the seabed, used as foundations upon which equipment can be mounted)…
Banga Takes Hong Kong Shipowners Association Helm
Angad Banga of the Caravel Group was elected as new Chairman of the Hong Kong Shipowners Association (HKSOA). He succeeded Wellington Koo, of Valles Steamship Co., Ltd, who stepped down after completing his two-year term as Chairman of the HKSOA.Banga has also taken over the Chairmanship of Asian Shipowners’ Association (ASA) at the same time. Banga’s tenure as Chairman of ASA will come to an end on the day of ASA’s next AGM to be held in Hong Kong on 28 May 2024.
Hahn & Co weighs sale of South Korea's SK Shipping
South Korean private equity firm Hahn & Co is reviewing strategic options for its majority stake in SK Shipping Co, including a sale that could value the company at about $10 billion including debt, Bloomberg News reported on Thursday.Hahn & Co is working with financial advisers as it weighs a partial or full sale of its stake, the report said, citing people familiar with the matter, adding that it was considering other options like selling individual divisions of the Seoul-based shipping compan
Russia Fails to Get Re-elected to the IMO
Russia on Friday failed to win enough votes for re-election to the United Nation's shipping agency's governing council after Ukrainian President Volodymyr Zelenskiy had urged countries not to allow Moscow to be part of the UN body's executive arm.The outcome is another blow for Russia after it failed in its bid to return to the UN's top human rights body in October, in an election seen as a key test…
Philippine President Skips COP28, Focuses on Seafarers
Philippine President Ferdinand R. Marcos Jr. has skipped COP28 in Dubai to personally address “important developments” in the hostage situation involving 17 Filipino seafarers.He is convening a meeting to facilitate the dispatch of a high-level delegation to Tehran, Iran, with the aim of providing necessary assistance to the seafarers.Marcos has assured the Filipino people that the government is doing…
Maintenance Error Led to Chemical Tanker Engine Room Fire
A maintenance error caused an engine room fire aboard the Endo Breeze last year, resulting in $1.2 million in damages, a National Transportation Safety Board (NTSB) analysis has shown.On April 29, 2022, the Endo Breeze was transiting outbound through the Raritan Bay West Reach channel near Staten Island, New York, when oil spray from a fuel injector pump on the starboard main engine ignited off nearby hot surfaces, causing a fire.
Japan Urged to Scale up Offshore Wind Auctions
International energy companies, from Germany's RWE to Spain's Iberdrola, are urging Japan to beef up offshore wind power auctions and make investments more attractive, amid soaring installation costs as competition for suppliers grows worldwide.Although desperate to ease its heavy dependence on energy imports from the Middle East and Russia, Japan is coming late to offshore wind, but some industry…
Report: Options for Retrofitting Ro-Pax with Hydrogen Propulsion Analyzed
BMT and PA Consulting have explored the feasibility of retrofitting medium-sized Ro-Pax ferries with hydrogen propulsion and storage technology.The resulting white paper assesses the economic and technical feasibility of retrofitting existing vessels with hydrogen propulsion systems, presenting three retrofit alternatives with varying complexity, hydrogen demand and costs. These options involve dual-fuel engines with compressed gaseous hydrogen storage…
BMT Introduces Full Electric Ferry Design
BMT has unveiled its new 140ft (42m) 100% electric EF-500 passenger ferry design at the International WorkBoat Show in New Orleans.Featuring a 500-passenger and four-crew capacity, the zero-emission vessel is tailored to meet the rising demand for hybrid or all-electric ferry options in the region.The newly unveiled all-electric ferry boasts a low wake hull, featuring a simple, easily constructible design with a lightweight and durable aluminum structure.
Vestas Secures 203MW Order in the US
Vestas has received a 203MW order to power an undisclosed wind project in the US. The order consists of 45 V163-4.5MW wind turbines.The orders include supply, delivery, and commissioning of the turbines, as well as a multi-year Active Output Management 5000 (AOM 5000) service agreement, designed to ensure optimized performance of the asset.Turbine delivery begins in the fourth quarter of 2024 with…
Viking Vela Floated Out
Viking Vela, the first of a new series of cruise ships that Fincantieri is building for the shipowner Viking, has been floated out at the shipyard in Ancona. The delivery is scheduled for late 2024.The vessel will be placed in the small cruise ship segment. She will have a gross tonnage of about 54,300 tons, will be equipped with 499 cabins and will be able to accommodate 998 passengers on board.Viking…
OPEC+ Prepares for 2024 Demand Uncertainty
Speaking after the November 30 OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “The decision by OPEC+ to continue with its previously announced production cuts and Saudi/Russia to extend their voluntary production cuts to the end of Q1 2024 is not a surprise, given current pricing and the uncertainty in the market over the strength of the global economy and oil demand growth.
ABS Supports Edison Chouest with Sustainability Reporting
ABS is working with offshore support vessel operator Edison Chouest Offshore (ECO) on its decarbonization journey with greenhouse gas inventory and sustainability reporting services. ECO has nearly 300 vessels.ABS specialists have been working with the ECO team since 2022 providing a gap analysis for the ECO environmental, social, and governance (ESG) report using the Global Reporting Initiative (GRI) Framework.This led to a full sustainability reporting project in 2023…
McAllister Towing Releases Its First Sustainability Report
McAllister Towing has released its inaugural sustainability report.ABS specialists worked with McAllister’s team to provide greenhouse gas inventory and sustainability reporting services, calculating the operational carbon intensity and benchmarking the performance of the McAllister fleet of more than 60 vessels, including tugboats, passenger ferries, offshore supply vessels, crew boats and barges in over 13 locations along the U.S.
FEPORT, ETA, EMPA and ECASBA Raise Cargo Diversion Concerns
As risks of cargo diversion to the detriment of EU ports are becoming more and more real with the upcoming entry into force at the beginning of 2024 of EU ETS for shipping, local organizations are voicing their concerns.The Federation of European Port Companies and Private Terminals (FEPORT), European Tugowners’ Association (ETA), European Maritime Pilots’ Association (EMPA) and European Community…
Vale’s First Bulk Carrier Biofuel Trial Commences
Vale, working in partnership with Oldendorff Carriers, has just commenced its first biofuel voyage on a bulk vessel.The trial is taking place on an Oldendorff vessel performing a laden Vale voyage from Brazil to Asia, carrying a full cargo of iron ore.The Hinrich Oldendorff (209,113 deadweight built 2016) loaded the biofuel in Singapore on October 16 on the ballast voyage to Brazil. The vessel then…
Van Oord JV Awarded Dredging Project at Port of Burgas
Cosmos Van Oord, a joint venture (JV) of Cosmos Shipping and Van Oord, has been awarded a dredging project at Port of Burgas, the biggest port in Bulgaria.The project is part of the construction of a new deep-water berth at terminal Burgas-West in the Port of Burgas. This will establish a dedicated port zone for container handling and storage, and introduce eco-friendly methods for efficiently transferring…
