Shipbuilding Shares Soar After Trump, Yoon Call
South Korean President Yoon Suk Yeol spoke with Donald Trump on Thursday and congratulated him on winning the U.S. presidency on the "Make America Great Again" slogan as officials in Seoul worked to prepare for "significant" economic changes.Yoon and Trump held a 12-minute phone call and discussed the close security and economic ties of their two countries across all areas, a senior South Korean official…
Babcock Hires KDC Veolia to Assist with UK’s Nuclear Submarine Dismantling
Babcock has awarded the recycling contract to KDC Veolia Decommissioning Services UK (KDCV) as part of U.K.’s demonstrator project to fully dismantle a nuclear-powered submarine Swiftsure.Babcock is working with the Defence Nuclear Enterprise (DNE) and KDCV on the demonstrator dismantling project, applying a new and innovative methodology which will enable around 90% of the structure and components to be reused or recycled.This includes the pressure hull around the reactor compartment…
GTT Books FSRU Tank Design Order from Korean Shipyard
French engineering company GTT has received an order from a Korean shipyard for the tank design of a new floating storage regasification unit (FSRU).The FSRU is being built for the Asian shipowner.GTT will design the tanks of this FSRU, with a total capacity of 204,000 m3.The tanks will be fitted with the NO96 GW containment system developed by GTT.The delivery of the vessels is scheduled for the fourth quarter of 2027.
CMB.TECH Profits Rise, VLCC Outlook Good
Belgian oil tanker company CMB.TECH posted third-quarter profit above market expectations on Thursday, powered by a long-term strategy of decarbonization and diversification of its fleet."From a supply-side perspective, the outlook for the tanker fleet remains generally favorable for Very Large Crude Carriers (VLCCs)," the group said in a statement.It cautioned about the Suezmax segment, where the order book has grown significantly, with an orderbook-to-fleet (OB/F) ratio of 16.3%, more than dou
VPS to Establish New Lab in China
Bunker fuel testing company VPS has joins forces with Lingang New Area in Shanghai to launch a new fuel testing lab and digital decarbonization platform.The partnership brings VPS to the Lingang New Area where it will establish a new facility to support the growth of sustainable fuel solutions including green methanol and LNG. It will provide testing, inspection and certification services.The aim is to drive environmental sustainability by leveraging advanced technology and data insights…
FONASBA Elects New President
The Federation of National Associations of Ship Brokers and Agents (FONASBA) elected a new president and board at its annual meeting in Athens last month.Fulvio Carlini of Italy has succeeded Javier Dulce as FONASBA’s President, and the FONASBA Board now consists of the following members:Fulvio Carlini, President (Italy)Javier Dulce, Past President (Argentina)Botond Szalma, Executive Vice-President (Hungary)Dureid Mahasneh…
IMPA to Test Remote Pilotage Solutions
The international study on remote pilotage launched by the International Maritime Pilots’ Association (IMPA) and its partners in the summer 2024 is now reaching out to manufacturers and system integrators to solicit their participation in the trials phases of the study.IMPA’s partners include the Canadian National Centre of Expertise on Maritime Pilotage (NCEMP) and the Canadian Coast Guard. Together…
Port of Los Angeles sees Record September, Best Quarter Ever
The Port of Los Angeles handled a record 954,706 Twenty-Foot Equivalent Units (TEUs) in September, a 27% increase over the previous year. It marked the close of the busiest quarter ever at the Port, which processed 2,854,904 TEUs in the last three months. Nine months into 2024, the Port of Los Angeles is 18% ahead of its 2023 pace. “Just as impressive as these new records is the fact that we managed all this cargo with skill and efficiency…
MSC’s Taluga Group Envisions Maritime Logistics Differently
As the Military Sealift Command (MSC) celebrates its 75th anniversary, it is looking to the future through the eyes of a forward-thinking “innovation cell” named for a ship from its storied past. USNS Taluga (T-AO-62) was the first Navy replenishment ship that was operated by civil service mariners.The Taluga Group is a three-person team of Director John Bruening, Dean Vesely and Jerit VanAuker who…
Panama to Cancel Flags on US-sanctioned LNG ships
Panama's Maritime Authority said on Wednesday it has begun a process to cancel flags on four LNG vessels sanctioned by the United States over their links with Russian gas producer Novatek.The vessels North Air, North Mountain, North Way and North Sky, which have been operating under Panama's flag, had previously been identified as part of Russia's dark tanker fleet, according to media reports quoted by the authority.
Great Lakes Iron Ore Trade Falls in October
Shipments of iron ore on the Great Lakes totaled 4.5 million tons in October, a decrease of 12.3 percent compared to a year ago. Shipments were 10.1 percent below the month’s 5-year average.Year-to-date the iron ore trade stands at 41 million tons, a decrease of 2.1 percent compared to the same point in 2023. Through October iron ore loadings are 5.1 percent above their 5-year average for the January-October timeframe. More information is available at www.lcaships.com.
First Damen Shrimp Trawler 2607 Completes Sea Trials
New vessel’s performance exceeds efficiency expectations, says Damen.Recently, the first in series Damen Shrimp Trawler 2607 successfully completed its sea trials in the Port of Hamriya, UAE. Damen has designed the new vessel for the next generation of (sub) tropical shrimp fishing. The design aims at the provision of a straightforward, no-nonsense platform, easy to operate and with minimal maintenance requirements.
Hapag-Lloyd orders 24 Newbuild Boxships
Hapag-Lloyd has ordered 24 new container ships from two Chinese shipyards with a combined investment volume of about $4 billion, it said on Wednesday.Twelve ships, each with a capacity of 16,800 TEUs (twenty-foot equivalent units), will be built by Yangzijiang Shipbuilding Group, while the other 12, with a capacity of 9,200 TEU each, will come from New Times Shipbuilding Company Ltd.According to Hapag-Lloyd…
Analysts: Trump Hardening Iran Policy Might Not Stem Flow to China
Former President Donald Trump's return to the White House could mean tougher enforcement of U.S. oil sanctions against Iran, potentially trimming global supplies, but his administration could struggle to get China, Iran's top crude customer, to cooperate, analysts said.Cracking down on OPEC-member Iran would support global oil prices, but the effect could also be offset by other Trump policies, from measures to expand domestic drilling…
CT Gateway Terminal wins $34M Grant for Zero-Emissions Equipment
Project will integrate electric assets, charging infrastructure and solar power equipment. Gateway Terminal in New Haven, CT, an Enstructure company, will receive funding to purchase and install electric equipment through the U.S. Environmental Protection Agency’s Clean Ports Program. The grant allocation includes $34,000,000 to purchase electric gantry cranes, material handlers and yard trucks, replace current diesel assets…
All Eyes on China as Trump Retakes the White House
Donald Trump’s victory in the US Presidential Election is has importers on edge, fearing another spike in ocean container shipping freight rates premised on President Trump's vow on blanket tariffs of up to 20% on all imports into the US and additional tariffs of 60% to 100% on goods from China.Data from Xeneta shows the last time that President Trump ramped up tariffs on Chinese imports during the trade war in 2018, ocean container shipping freight rates spiked more than 70%.
Reducing Complexity in Marine Winches with Powertrain Solutions
The ChallengeAn international engineering technology company that strives to develop unique, innovative, sustainable products for their customers needed assistance with designing a marine winch, which is a critical component in the marine industry. This component is used for the control, lifting, and retrieval of remote operated vehicles (ROVs) on sea/ocean fairing vessels.The winch needed to lift a type of ROV called a hull cleaner, which is designed to remove fouling on the ship hull.
The Top 5 Cyber Activities Targeting Maritime Industry
In the first half of 2024, the Threat Intelligence team within Marlink’s Security Operations Centre has observed several activities carried out by malicious actors targeting the maritime industry.These activities include phishing, where malicious actors sending fraudulent e-mails or messages try to trick individuals into revealing sensitive information like passwords or financial details.Phishing attack…
Almacam Helps Cut Shipyard Waste, by Design
Almacam is a leader in nesting-CAM software for shipyards. Philippe Rouzeau, Manager of the Shipyard Team, Almacam, explains how it solutions can help shipyards shave production costs and increase efficiency.Almacam is a 45-year-old, employee-owned company created by researchers that were mono-focused on developing nesting algorithms in a laboratory of Grenoble University, France, aiming to bring this nesting algorithm tech to the industry.According to Rouzeau…
Palfinger to Supply Safety Equipment for Canadian Coast Guard's New MPVs
Palfinger Marine, an Austrian manufacturer of hydraulic lifting, loading, and handling systems for marine applications, been selected to supply its Polar Class lifeboats and davits package for the first fleet of ships in the Canadian Coast Guard’s Multi-Purpose Vessel (MPV) renewal program.The contract covers the delivery of equipment for the first six of up to 16 vessels.The collaboration further…
