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Esgian Week 22 Report: A Shrinking Pool of Vintage Semisubs
Esgian provides an update on rig sales and the shrinking pool of vintage semisubs in its Week 22 Rig Analytics Market Roundup.Report SummaryContractsNoble Corporation has secured a new well intervention contract with Harbour Energy in UK waters of the North Sea for the 350-ft jackup Noble Resilient.Drilling Activity and DiscoveriesThe recently drilled offshore production well at the Kupe oil and gas…
Houthis Vow to Escalate Military Operations
Yemen's Houthis will continue their military operations and escalate them "in quality and quantity" in support of Palestinians in Israel's war in Gaza, the Iran-backed group's leader Abdulmalik al-Houthi said in a televised speech on Thursday.The group have been attacking ships in the Red Sea region since November, forcing shippers to re-route cargo to longer and more expensive journeys around southern Africa.
Houthis Claim to Attack Six Ships in Three Seas
Yemen's Houthis launched attacks on six ships in three different seas, the Iran-backed group said on Wednesday, including the Marshall Islands-flagged bulk carrier Laax that was damaged after reporting a missile strike off the Yemeni coast.Security and shipping sources confirmed the Houthis hit the Laax in a barrage of attacks on Tuesday. In a televised speech, the group also said it targeted the Morea and Sealady in the Red Sea…
MSC 108 Revises Autonomous Ship Roadmap
The Maritime Safety Committee of the IMO met for its 108th session at IMO Headquarters in London from May 15 to 24, and its outcomes included revising the roadmap for the development of a code to regulate autonomous ships (Maritime Autonomous Surface Ships - MASS).The Committee approved the report of the third session of the Joint MSC-LEG-FAL Working Group on MASS (MASS-JWG 3) and noted the significant progress made to date to develop the draft MASS Code…
U.S. Gulf Coast Imports of Straight-Run Fuel Oil at Record
Imports of straight-run fuel oil (SRFO) to the U.S Gulf Coast were set to climb to record levels this month as Mideast and African suppliers ramped up exports and U.S. refiners scrambled for heavy feedstocks, according to data from ship tracker Kpler.The increased imports of SRFO, a feedstock processed through secondary refining units and turned into products like gasoline and diesel, have helped fill a gap in heavy crude availability facing U.S.
Bulker Damaged near Yemen by Two Missile Attacks
A bulk carrier already taking on water after a Houthi missile attack off the coast of Yemen on Tuesday has reported further damage from a second strike, the United Kingdom Maritime Trade Operations said on Tuesday.Maritime security and shipping sources earlier in day identified vessel as the Marshall Islands-flagged Laax.Yemen's Iran-aligned Houthis have launched more than 50 attacks in the Red Sea region since November in what they say is solidarity with Palestinians.
Red Sea Dissruptions Are Driving Up Carbon Emissions
A surge of attacks on ships traveling the waters of the Red Sea is forcing shippers to reroute their vessels, sending them on longer journeys that drive up their carbon dioxide emissions.For companies struggling to account for – and lower – the climate-warming emissions associated with their businesses, these rerouted journeys add to the challenge. Many companies had already revamped their supply chains as they navigated COVID-19 disruptions…
Baby Found Dead in Stricken Migrant Boat
The body of a five-month-old baby was found on Tuesday when some 85 migrants heading for Italy from Tunisia were rescued from distress at sea, according to a Reuters witness.The infant girl, her mother and 4-year-old sister were in an unseaworthy boat laden with migrants that had set off from Sfax in Tunisia two days earlier bound for Italy, according to charity group SOS Humanity.SOS Humanity workers…
Methanol Institute Appoints Alexander Döll as COO
The Methanol Institute (MI) has appointed Alexander Döll as its new Chief Operating Officer, effective immediately.He will take on his global position from MI’s Brussels office, with his onboarding commencing in Washington DC. Döll will draw on his extensive background experience in the chemical industry and the energy transition, having previously held leadership positions at OCI Global, Dow and Hill & Knowlton.Originally from the Netherlands…
Houthis Say They Attack Three Ships, Two US Destroyers
Yemen's Iran-backed Houthis said on Monday they launched attacks on three ships in the Indian Ocean and the Red Sea, and two U.S. destroyers in the Red Sea.The group, which describes its attacks as acts of solidarity with Palestinians in Israel's war in Gaza, said the ships were the Larego Desert and the MSC Mechela in the Indian Ocean, and the Minerva Lisa in the Red Sea. It did not name the destroyers.There was no immediate confirmation from shipping companies or the U.S.
Esgian Week 21 Report: Tender Opportunities Emerging in Africa
Esgian provides an update on new commitments confirmed for Odfjell Drilling and Borr Drilling rigs and new tender opportunities emerging in Africa in its Week 21 Rig Analytics Market Roundup.Report SummaryContractsEquinor has exercised an option to extend the use of Odfjell Drilling’s 10,000-ft Deepsea Aberdeen for a batch of eight wells on the Norwegian Continental Shelf. With this, Odfjell Drilling’s…
Houthis Claim Attacks on Three Ships Including One in Mediterranean
Yemen's Houthis launched attacks on three ships in the Red Sea, Mediterranean Sea and Arabian Sea, the Iran-aligned group said on Friday, although the manager of the ship allegedly attacked in the Mediterranean said there was no sign of such an incident.The reported attacks are the latest in a months-long campaign of Houthi strikes against regional shipping in what the group says is solidarity with…
Has Container Peak Season Come Early?
A combination of the ongoing Cape of Good Hope diversions, a stronger-than-expected demand rebound and weather delays in major Chinese ports is the most likely explanation for the freight rate rally of the past four weeks, according to MSI.MSI’s HORIZON monthly containerships report points out that the speed and strength of the unexpected rally took shippers in mainlane East Asia to Europe and North America trades by surprise.Similar dynamics were soon seen in second-tier trade lanes as well…
Columbia Shipmanagement Opens Office in Dubai
Columbia Shipmanagement (CSM), member of Columbia Group, is stepping up its presence in the Middle East with the launch of a new office in Dubai.Building on its 45 years of shipmanagement expertise, the strategic expansion will complement CSM’s existing operations in Saudi Arabia, aimed at strengthening the shipping industry and fostering partnerships across the region.The new office will offer the…
While Maritime Risks Soar, Total Losses Plummet in '23 - Report
It was only 30 years ago when maritime lost approximately 200 large vessels per year. Despite the mounting risks to shipping globally, its safe to say that safety measures and technology put in place in the interim have paid off, as in 2023 the industry saw 26 large ships lost -- down from 41 a year earlier and the lowest total ever, according to the Allianz Commercial Safety and Shipping Review 2024.While the ship loss numbers continue to fall…
Langh Ship Newbuild Sofia En Route to Europe
Finnish shipping company Langh Ship earlier this month reported that the final vessel in its multipurpose newbuilding series was named during a ceremony in Ningbo, China, and has begun its journey toward Europe through Singapore Strait and around Africa.The vessel, Sofia, built at the Wuhu Shipyard, is purposely built to carry the stainless steel coils that Outokumpu produces in Finland. The liner service is established between Outokumpu factories in Tornio…
First New-Generation Parramatta River Ferry Enters Service
Australia’s NSW Government has put the first of seven new Parramatta Class ferries designed by Incat Crowther into service.The fleet of new ferries, which will service the busy Parramatta River commuter route, are being constructed in Tasmania, Australia by Richardson Devine Marine.Watch the latest video from Incat Crowther and Zero Emission FerriesA second vessel has begun sea trials and three more are already under construction…
Rescuers Search for Fishermen Missing off South Africa
Search and rescue efforts were underway in South Africa on Saturday to find 11 fishermen missing at sea after their vessel sunk off the coast of Cape Town, the fisheries department said.Nine fishermen who had managed to deploy an emergency craft were rescued, the department said in a statement."Our thoughts and prayers are with the missing fishermen and their families as we await news of the search and rescue operation," fisheries minister Barbara Creecy said.According to the National Sea Rescue
CMA CGM Sees Overcapacity Looming
Shipping group CMA CGM benefited in the first quarter from a rebound in demand for consumer goods and higher freight rates linked to Red Sea disruption, but expects an influx of new ships to weigh on the market later in the year, it said on Friday.France-based CMA CGM, the world's third-largest container line, reported first-quarter net profit of $785 million, recovering from a $90 million loss in…
Houthis Will Target All Ships Heading to Israel, Group Says
All ships heading to Israeli ports will be targeted by Yemen's Iran-backed Houthis and not just in the Red Sea region, the group's leaded Abdulmalik al-Houthi said in a televised speech on Thursday.The group has threatened to extend their attacks on ships heading to Israeli ports to the Mediterranean Sea, in what they say is a campaign of solidarity with Palestinians during Israel's war with Hamas in Gaza.Al-Houthi urged China…