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Steady Demand Propels Baltic Dry Index to Weekly Gains
The Baltic Exchange's main sea freight index fell on Friday pressured by a dip in the capesize segment, but posted a weekly rise powered by overall gains across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 31 points, or about 1.6%, to 1,961.It posted a weekly gain of 11.4%, gaining for five out of the last six weeks.The capesize index lost 110 points, or about 4.4%, at 2,396, but notched up a 23% weekly gain.Average daily
US Navy Jet Flew Across Baltic Hours After Nord Stream Burst
A U.S. Navy reconnaissance aircraft flew near the site of the ruptured Nord Stream 2 pipeline in the Baltic Sea hours after the first damage emerged, according to tracking reviewed by Reuters, a flight Washington said was routine.Russia's Nord Stream 1 and 2 pipelines burst on Sept. 26, draining gas into the Baltic Sea off the coast of Denmark and Sweden. Seismologists registered explosions in the area…
Argeo Charters Argeo Searcher Vessel
Argeo, a Norwegian autonomous underwater vehicle provider, has signed a 5-year bareboat contract for the vessel Argeo Searcher (former Ocean Pearl), with an option to purchase the vessel for $2 million after 12 months and $1 million after 27 months. The vessel is expected to be delivered to the company on December 10, 2022."The international expansion of Argeo means contracts are significantly larger, with longer duration, and therefore require predictability in our operational value chain.
Four Bodies Recovered, 29 Missing from Boat Rescued Off Spain's Canary Islands
The bodies of four migrants, who died on the Atlantic Ocean in an inflatable dinghy with 34 people on board, and a survivor were brought to Spain's Canary Islands…
Capital of the Oceans
The City of Brest, on France’s Atlantic coast, calls itself the Capital of the Oceans and it is surely living up to that moniker this week as the city hosts the international Sea Tech Week, held every two years, with a programmatic focus on “Maritime Transport: Towards Smarter & Greener Solutions.”New Wave Media was honored to join a small international press group invited to attend Sea Tech as well…
Seven More Crop-laden Ships Leave Ukrainian Ports
Seven more ships laden with agricultural produce left Ukrainian ports on Sunday, the country's infrastructure ministry said, bringing the total to 218 since a U.N.-brokered corridor through the Black Sea came into force at the start of August.Ukraine, a major agricultural producer, was left unable to export through the Black Sea after Russia's invasion on Feb. 24 until the agreement of the grain deal…
Molten Salt Reactors: Maritime’s Nuclear Option
A race is being run by nuclear scientists and ship designers. The prize? “Decarbonization’s” holy grail — believed to be a “small” thorium-fueled, molten-salt rector’s unlimited power to propel sea trade. At the same time, a recently revived discussion among leading marine-nuclear thinkers revolves now around how to put an ultra-modern, as-yet non-existent marine reactor aboard a modern commercial vessel.
At Least Two Investors to Submit Binding Bids for Alexandroupolis Port
At least two investors are expected to submit binding bids on Thursday for a majority stake in Greece's northern port of Alexandroupolis, sources close to the process told Reuters.Near the borders with Bulgaria and Turkey, and with rail links and a floating gas regasification unit in the pipeline, Alexandroupolis has potential as a transport and energy hub for central Europe.Four investors were shortlisted last year for a 67% stake in the port: Quintana Infrastructure and Development…
165 Ships Have Left Ukraine Ports Under Grain Deal
A total of 165 ships with 3.7 million tonnes of agricultural products on board have left Ukraine under a deal brokered by the United Nations and Turkey to unblock Ukrainian sea ports, the Ukrainian infrastructure ministry said on Sunday.The ministry said 10 ships with 169,300 tonnes of agricultural products are due to leave Ukrainian Black Sea ports on Sunday."At 10:00 a.m., 8 ships left the ports of Great Odesa…
UN Ship Leaves Ukraine with Wheat for Ethiopia
The third vessel charted by the United Nations World Food Program (WFP), left Ukraine’s Chornomorsk Black Sea port with around 30,000 tonnes of wheat on board, Ukraine’s infrastructure ministry said on Saturday.“The vessel is headed for Ethiopia. According to UN estimates, Ethiopia is on the verge of a food crisis,” the ministry said in a statement.It said that in partnership with the WFP, three ships loaded with more than 90…
BV Sees Surge in Decommissioning Support Orders. Beats Its Full Year Target
Bureau Veritas Solutions Marine & Offshore, the marine and offshore technical advisory branch of Bureau Veritas, saw a surge in the decommissioning support field orders in the first six months of 2022.The company said that new decommissioning support deals in the UK, Brazil, South Africa, Australia, and New Zealand have led to BV Solutions M&O exceeding its full-year target by end-June – a target set…
Royal IHC Hands Over Converted Amazon J-Lay Vessel to McDermott
Dutch maritime equipment and technology firm Royal IHC has handed over the converted J-lay vessel Amazon to McDermott International.Royal IHC said: "For this project, Royal IHC has converted Amazon into the modern and state-of-the-art J-lay vessel it is today. The patented system, with dynamic top tension capacity of 1.500 tonnes, can handle a variety of pipes, including normal flowlines, export lines…
Baltic Dry Index Rises on Higher Rates for Larger Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday as rates for larger vessel segments increased.The overall index, which factors in rates for capesize, panamax, supramax shipping vessels, was up for the fourth consecutive session, gaining 43 points, or about 3.5%, at 1,256.Market conditions are expected to improve for the rest of 2022 and further in 2023 as the EU's ban on Russian coal will add tonne miles…
South Africa Halts Orange Exports Due to Fungus
South Africa, one of the world's biggest citrus exporters, will voluntarily stop shipments of valencia oranges to the European Union (EU) from areas affected by a fungal disease, the citrus growers' association said on Wednesday.The decision to halt exports to the EU comes after 10 incidents in which the fungal disease was detected on South African citrus, Citrus Growers' Association (CGA) Chief Executive…
Putin to Look at Revising 'Cheating' Ukrainian Grain Export Deal
President Vladimir Putin said on Wednesday that Russia and the developing world had been "cheated" by a UN-brokered Ukrainian grain export deal, vowing to look to revise its terms to limit the countries that can receive shipments.Speaking at an economic forum in the city of Vladivostok in Russia's Far East, Putin took aim at the deal, brokered by Turkey and the United Nations, saying Ukrainian grain exports were not going to the world's poorest countries as originally intended.
Ukraine Dispatches Its Biggest Grain Convoy of U.N. Deal So Far
Ukraine said it had dispatched its biggest convoy of grain vessels under a U.N.-brokered deal so far after 13 ships set sail from its ports on Sunday carrying 282,500 tonnes of agricultural products to foreign markets. The cargo bound for eight countries was loaded at the Black Sea ports of Odesa, Chornomorsk and Pivdennyi. The ports had been completely blockaded by Russia's invasion until a July 22 deal that was brokered by the United Nations and Turkey.
Russia Attacks Grain Silos at Ukraine's Mykolaiv Port
Grain silos in Ukraine's second biggest port, Mykolaiv, were hit by Russian shelling of the city on Tuesday, causing a fire that was still burning on Wednesday, Ukraine's emergencies service said."As a result of the shelling of Mykolaiv, grain silos at an infrastructure facility in the Korabelny district caught fire," the emergencies service said on Facebook on Wednesday. "Firefighting continues."It…
More Needs to Be Done to Improve Gender Equality in the Maritime Sector
Maritime transport is the backbone of international trade and the global economy. Approximately 80% of global trade by volume and in excess of 70% of global trade by value is carried by sea, and millions of tons of goods are handled by ports worldwide according to the United Nations Conference on Trade and Development (UNCTAD).South Africa is positioned on a major shipping route with an expansive coastline that traverses two oceans and spans nearly 4 000 kilometers.
Solstad Offshore Nabs New Contracts for CSV Quartet
Norwegian offshore vessel owner Solstad Offshore has secured four new contracts for its subsea construction vessels (CSV). The contracts have a combined firm vessel utilization of 410 days, with additional subsequent options, on projects in North Europe, West Africa, and Asia.The contracts have a combined value of approximately NOK 260 million (~around 26,5 million), including addition services, such as ROVs, “Walk to Work”-systems, and project support.
UN Ships Food Relief from Ukraine to Drought-stricken Horn of Africa
A ship carrying wheat from Ukraine to the drought-stricken Horn of Africa docked on Tuesday, the United Nations said, the first to make the journey since the Russian…
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
