Baltic Dry Index Scales 11-month Peak
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose to an 11-month high on Wednesday, driven by robust capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 58 points, or about 3.4%, to 1,752, its highest level since Oct.
Diana Inks LOI to Order Methanol Dual-fuel Bulkers
Dry bulk shipowner Diana Shipping announced it has signed a letter of intent (LOI) to order through Marubeni Corporation or its guaranteed nominee, an unaffiliated third party, two 81,200 dwt methanol dual fuel new-building Kamsarmax dry bulk vessels, for a purchase price of $46 million each, built at Tsuneishi Group (Zhoushan) Shipbuilding Inc., China.The vessels are expected to be delivered by the second half of 2027 and the first half of 2028 respectively.
NRL Plans to Boost Low-sulphur Fuel Oil Output for Ships
Pakistan National Refinery Limited (NRL) has started producing very low sulphur fuel oil (VLSFO) for ships and is planning to expand its monthly output by at least five-fold in six months, the company said late Tuesday.The company is producing about 2,000 metric tons of VLSFO per month, with the monthly volume likely to increase to 10,000 tons to 12,000 tons over the next six months, NRL told Reuters in an email.NRL announced the production of VLSFO in a notice to the Pakistan Stock Exchange ear
Shipping Industry Has No Easy Path Toward Decarbonization
The shipping industry lacks clarity on future clean fuels and regulatory systems which is holding back companies from replacing ageing vessels amid pressure to decarbonise faster, U.N. agency UNCTAD said on Wednesday.Shipping, which transports over 80% of world trade and accounts for nearly 3% of the world's carbon dioxide emissions, has faced calls from environmentalists and investors to deliver more concrete action, including a carbon levy."We call for global action to decarbonise shipping.
Jailed Russian Tycoon Launches $14B Lawsuit in UK Over Port Holdings
Russian tycoon Ziyavudin Magomedov, jailed at home in Russia, has launched a London lawsuit seeking nearly $14 billion over his holdings in valuable port operators, which he says were seized as part of a state-backed conspiracy.The businessman filed the lawsuit at London's High Court on July 20 against several defendants, including Russian state nuclear energy company Rosatom, oil pipeline operator Transneft…
GEOS to Sell VOS Sugar Offshore Vessel at 'Substantial Profit'
The Norwegian offshore vessel owner Golden Energy Offshore Services AS (“GEOS”) said Wednedsay it had entered into a memorandum of agreement (the “MoA”) with an…
QatarEnergy Orders 17 Ultra-Modern LNG Carriers for $3.9 Billion
Qatari oil and gas company QatarEnergy has ordered 17 "ultra-modern" LNG carriers from South Korea's HD Hyundai Heavy Industries (HHI).The deal, signed at a ceremony in Seoul, is valued at 14.2 billion Qatari Riyals (currently around $3,9 billion), and marks the start of the second phase of QatarEnergy's LNG ship acquisition program, which will support its expanding LNG production capacity from the…
ABS and AL Group to Study Methanol Fuel Conversion for Bulker
ABS and Asiatic Lloyd Maritime LLP, member of the AL Group, have signed a joint development project to study the feasibility of converting the fuel system of an ultramax bulk carrier, from conventional diesel to methanol.The study is focused on a series of up to eight ABS Classed ultramax bulk carriers ordered for construction in the New Hantong Shipyard, China, for AL Group.“Converting vessel propulsion…
Anglo-Eastern Completes 100th Starlink Maritime Installation
Anglo-Eastern completed the 100th installation of Starlink within its managed fleet last week, mere months after announcing its commitment to the service. The global ship manager has seen an overwhelmingly positive response in respect of both operations and crew wellbeing.Torbjorn Dimblad, Chief Information Officer of Anglo-Eastern, expressed his satisfaction, saying “We now have Starlink-equipped vessels operating in every corner of the world and we are delighted with the service.
Inmarsat Report Identifies Deficiencies in Safety Culture
The 2023 edition of The Future of Maritime Safety Report from Inmarsat Maritime, a Viasat business, reveals that the number of distress calls from ships at sea remains high, despite a continuing decline in vessel losses. The new report, which analyses Global Maritime Distress and Safety System information captured by Inmarsat, registered 853 distress calls from January to December 2022 – up from 794…
Accelleron Extends Service Agreement with Starlite Ferries
Accelleron has signed a new three-year agreement to deliver turbocharger services to Starlite Ferries Inc. The passenger ferry operator, located in the Philippines, has extended the scope as well as the duration of their Turbo LifecycleCare agreement, adding one further vessel to the seven previously covered. Furthermore, Accelleron’s digital engine optimization solution Tekomar Xpert is newly implemented…
BOEM Postpones Oil and Gas Lease Sale 261
The U.S. Interior Department's Bureau of Ocean Energy Management (BOEM) said on Tuesday it will postpone its next sale of oil leases in the Gulf of Mexico.The agency said it will not hold Lease Sale 261 on September 27, 2023, as originally planned as a result of last week's ruling by the U.S. Court of Appeals for the Fifth Circuit ordering an expansion of acreage being offered after BOEM earlier reduced…
Sener Completes Basic Engineering for Two Ice-Class Vessels with Carbon Capture
Spain-based Sener has developed the conceptual and basic engineering of two new ice-class vessels equipped with carbon capture systems for the German company Grona Shipping.The two general cargo vessels are 6,000 and 9,100 tons respectively.Both vessels have an LNG propulsion system and incorporate CO2 capture systems, which can be located on top of the LNG tanks or as structural tanks between the two cargo holds.
US SECNAV Calls Bold 'New Maritime Statecraft'
U.S. Secretary of the Navy Carlos Del Toro on Tuesday called for a “new maritime statecraft” to prevail in an era of intense strategic competition.During remarks at the John F. Kennedy School of Government at Harvard University, Secretary Del Toro stated that maritime statecraft, in a broad sense, encompasses not only naval diplomacy, but a national, whole-of-government effort to build comprehensive U.S.
St. Johns Ship Building’s Jeff Bukoski to Receive USMMA’s Admiral McCready Award
Jeffery Bukoski, president of Palatka, Fla. shipyard St. Johns Ship Building, has been awarded the RADM Lauren S. McCready Award, which recognizes graduates of the U.S. Merchant Marine Academy (USMMA) who have made significant technical achievements in the marine industry or who have contributed organizational or managerial support to making such technical achievements possible.Bukoski, USMMA class of 1986, is a 35 year veteran of the U.S.
Report: Five Digitalization Steps that can Drive OSV Fuel Efficiency
A new white paper published by maritime performance management company Opsealog sets out five practical steps that OSV operators can take to secure improvements in fuel efficiency through better data analytics.Existing data that companies are already collecting, for example in mandatory logbooks, can enable significant vessel and fleet efficiency gains, says Opsealog.With case studies drawn from Opsealog’s eight years of experience across the world’s offshore markets…
Maritime Partners Acquires Maersk's USMMI
Maritime Partners, a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC (USMMI) from Maersk Line, Limited.USMMI owns and operates U.S. flag vessels—including one owned maritime support vessel, three owned tankers, and one bareboat chartered tanker—for charter to the U.S. Navy's Military Sealift Command.
Inland Dredging Co Awarded Brownsville Dredging Job
Dyersburg, Tenn. based Inland Dredging Co. has been awarded a contract from U.S. Army Corps of Engineers' Galveston District for channel pipeline dredging in Brownsville, Texas.The company beat out three other bidders to secure the $10,433,550 firm-fixed-price contract.Work is estimated to be completed by June 19, 2024.
Russia Hits Ukrainian Port Facilities
Ukrainian officials said Russia struck Ukrainian port infrastructure and grain storage facilities on Tuesday, but also reported some progress on the front lines in the three-month old counteroffensive by its forces.President Volodymyr Zelenskiy spoke of "good details" from the front without further explanation and said Ukraine clearly understood where to apply pressure to make it felt in Moscow."Sanctions are not enough.
Philippines Condemns Chinese 'Floating Barrier' in South China Sea
The Philippines on Sunday accused China's coast guard of installing a "floating barrier" in a disputed area of the South China Sea, saying it prevented Filipinos from entering and fishing in the area.Manila's coast guard and Bureau of Fisheries and Aquatic Resources "strongly condemn" China's installation of the barrier in part of the Scarborough Shoal, Commodore Jay Tarriela, a coast guard spokesperson…
