Maritime Partners Acquires e1 Marine
Louisiana-based maritime financing company Maritime Partners on Monday announced it has completed its acquisition of e1 Marine, a company that produces hydrogen generation technology for the marine sector.Originally formed as a partnership between Maritime Partners, Element 1 and Ardmore Shipping, e1 Marine provides clean energy technologies, including advanced methanol-to-hydrogen generation products, which provide an alternative, cleaner fuel source for marine vessels.
US Supreme Court Curbs Federal Agency Powers, Overturning Chevron Deference
The U.S. Supreme Court dealt a major blow to federal regulatory power on Friday by overturning a 1984 precedent that had given deference to government agencies in interpreting laws they administer, handing a defeat to President Joe Biden's administration.The justices ruled 6-3 to set aside lower court decisions against fishing companies that challenged a government-run program partly funded by industry that monitored overfishing of herring off New England's coast.
Centurion Bulk Acquires Integrity Bulk
Singapore headquartered dry bulk shipping company Centurion Bulk announce it has acquired Danish handysize operator Integrity Bulk.The takeover will be effective from July 31, 2024, subject to the finalization of the transaction, Centurion Bulk said.Centurion Bulk charters and operates more than 80 vessels worldwide, spanning the handysize to ultramax markets.The Integrity Bulk website currently lists a fleet of 12 vessels built from 2012 through this year, ranging from 28,227 dwt to 39,970 dwt.
Wilson Orders Eight More Vessels
European short-sea shipping company Wilson ASA announced it has ordered eight 6,300 dwt general cargo vessels, extending its newbuild program to 14. The ships will be built by Indian shipbuilder Cochin Shipyard.The 14 new ships, including the six 3,800 dwt vessels ordered in June 2023, will be delivered from the first half of 2025 until 2028.The new, modern vessels will contribute to both growth and fleet renewal of the existing Wilson fleet, the company said.
Keel Laid for Stena Line's First NewMax Ship
A keel laying ceremony was held on Friday for the first of two all-new NewMax hybrid RoPax vessels being built for Stena Line at the China Merchants Jinling Shipyard in WeiHai, China. At the same time, the ferry’s name was disclosed: Stena Futura.These newbuilds will enhance capacity on the Belfast-Heysham route on the Irish Sea. Besides being able to run on methanol, a priority during construction…
Hanwha Ocean Names New Head of Offshore Engineering
Hanwha Ocean announced it has hired Bram Van Cann as its new head of engineering for its offshore business.Bram brings to the role extensive expertise in the offshore and renewable energy sectors, with more than two decades of experience at SBM Offshore, ENGIE and Ocean Winds.
Manta Marine Technologies Launches TrimSense
Manta Marine Technologies (MMT) said its FuelOpt system is poised to unlock further fuel and emissions savings with the addition of the newly launched trim optimization advisory system TrimSense.Available as an added feature to existing FuelOpt installations, TrimSense integrates easily and assists with fuel and emissions reporting, and can be utilized alongside AI technologies for calculating operational voyage parameters…
Kongsberg Debuts Underwater Mountable Thruster with PM Motor
Kongsberg Maritime has introduced a new size of underwater mountable azimuth thruster with a 3.7 meter propeller and 4.2-megawatt power output model joining the range. Suited to a range of vessels including drill ships, windfarm vessels and production vessels, the UUC PM 355 features a permanent magnet (PM) motor, delivering 81 tons of bollard pull.The UUC PM 355, has a compact design with less space required in the machine room thanks to the integrated PM motor.
New Fuel Restrictions for Ships in Arctic Fall Short, Green Groups Say
Ships sailing through Arctic waters will no longer be able to use or carry heavy bunker fuel oil under a United Nations shipping agency regulation which took effect on Monday.Yet environmental groups say the ban does not go far enough in geographic scope or addressing dirty black carbon emissions from ships, which can darken white ice and speed up the melting wrought by climate change. The ban, adopted in 2021 by the UN's International Maritime Organization (IMO)…
Equinor Extends Eidesvik’s PSV Engagement
Equinor has declared options to extend the contract with Eidesvik Offshore, a Norwegian offshore vessel owner, for its supply platform supply vessel (PSV) Viking Energy.The contract extension runs from April 2025, extending the firm period to April 2030. The contract also includes options for further extensions.“Viking Energy has been in continuous operation for Equinor since its launch in 2003. This…
China Starts Regular Sea Ice Forecasts for Northeast Passage
A Chinese radio station on Monday started broadcasts on Arctic sea ice conditions off Russia's coast for vessels sailing the Northeast Passage, as China seeks to further utilise the world's northernmost routes as alternatives to the Suez Canal.Arctic sea routes are increasingly being used as an alternative global trade route connecting the Pacific Ocean and Atlantic Ocean to major economies as global…
Baltic Dry Index Hits Near Two-month High
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, hit its highest level in nearly two months on Monday as capesize vessels gained on robust demand.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 108 points, or 5.3%, to 2,158, its highest mark since May 9.The capesize index was up 348 points, or 10.1%, to 3,791, its highest level since March 19.Average daily earnings for capesize vessels, w
Damen Christens New Tug Built for Muller Dordrecht
Dutch shipbuilder Damen and towage company Muller Dordrecht have held christening ceremony took place in the Netherlands, marking the delivery of a new Damen ASD Tug 3212.Named En Avant 26, the vessel was the third to be delivered by Damen to Muller Dordrecht in the past three years, the others being another Damen ASD Tug 3212 En Avant 25 and a Z-drive Pushboat built by Concordia Damen.The En Avant 26 was built at Damen’s specialist tug yard Damen Song Cam Shipyard in Haiphong…
Jan de Nul Gets Export Cables Installation Job for Taiwanese Offshore Wind Farm
Belgium-based offshore installation contractor Jan De Nul has signed preferred supplier agreement with Copenhagen Infrastructure Partners (CIP) for the installation of subsea high-voltage export cable for Fengmiao I offshore wind farm in Taiwan.The subsea cables, about 90 km long, will bring the wind energy generated at the 500 MW Fengmiao I wind farm ashore to Taichung City.Fengmiao I will provide power for about half a million households…
Trafigura Wraps Up Ammonia Ship-to-Ship Bunkering in Gibraltar Strait
Commodities trader Trafigura has completed its first ship-to-ship (STS) transfer of ammonia in international waters close to the port of Ceuta in the Strait of Gibraltar.Approximately 6,000 metric tonnes of ammonia (NH3), supplied by CF Industries from their Donaldsonville, Louisiana-based manufacturing complex, was safely transferred between the Green Power Medium Gas Carrier (MGC), owned by ship owner/operator Purus on time charter to Trafigura…
FueLNG Achieves 200th Ship-to-Ship LNG Bunkering in Singapore
FueLNG has successfully completed its 200th ship-to-ship (STS) LNG bunkering operation.The milestone operation was conducted by FueLNG Venosa, delivering 9,000 cubic metres (cbm) of LNG fuel to CMA CGM Bahia on 29th June at the Raffles Reserve Anchorage in Singapore. This vessel is part of a new generation of six CMA CGM containerships featuring “biomethane and e-methane ready” engines and an enhanced aerodynamic design.Saunak Rai…
GMS: Vessel Prices Expected to Decline in July
Vessel prices are already down by about USD 20 – USD 25 / LDT, reports cash buyer GMS, as further decline is expected in the first half of July as previously forecast.Shipowners and cash buyers are now chasing down a declining market, and recyclers are facing exacerbating economic challenges. Not only are local steel plate prices in shambles, but currencies are also taking tumbles at key destinations…
BIMCO: Container Shipping Market Strength Predicated on Red Sea Re-Routing
Niels Rasmussen, BIMCO’s Chief Shipping Analyst, reports that ship supply is expected to grow on average 10.3% in 2024 and 5.3% in 2025. After increasing in 2024, sailing speeds are expected to reduce in 2025.Attacks on ships in the Red Sea have forced nearly all container ships to sail around the Cape of Good Hope, adding 10% to average sailing distances and ship demand.Re-routing via Cape of Good Hope could impact all of 2024.
Esgian Week 26 Report: Drilling Activity is High
Esgian provides an update on drilling activity in its Week 26 Rig Analytics Market Roundup.Report SummaryContractsVentura Offshore has been granted exclusive marketing rights from Hanwha Drilling LLC for the newbuild 12,000-ft 7th generation drillship, Tidal Action, for an ongoing tender process in Brazil.Transocean has announced a 365-day contract extension for the 12,000-ft drillship Deepwater Asgard with an independent operator in the U.S.
Interferry Calls for CII Fleet-Balancing Mechanism
Interferry Director of Regulatory Affairs Johan Roos has announced that the organization has drafted an alternative compliance mechanism to the CII that will be submitted to MEPC 82, to be held September 30 - October 4.CII is a shipping industry-specific operational efficiency requirement that dictates how much fuel is allowed to be burned per nautical mile in relation to ship type and ship size. “It…