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Offshore Service Vessels: What’s in Store in 2025
After what we would argue has been an incredibly eventful 2024 with massive deals, tremendous dayrate developments, further charterer backlog build, and the first series of newbuild orders in years, now comes the time when we turn our gaze towards 2025. What are some of the main trends we expect for next year, and how do we see the continuation of today's developments impact the year to come. Overall…
ABS Approves Hanwha Ocean’s FPSO Design
American Bureau of Shipping (ABS) has awarded Hanwha Ocean an Approval in Principle (AIP) for its Pre-FEED standard FPSO design intended to create an asset optimized for deployment in the deep waters of West Africa.The FPSO design is 340 meters long and capable of storing approximately 2.38 million barrels of crude oil, with a daily crude oil production capacity of 190,000 barrels.Developed to accommodate topsides for crude oil and or gas production facilities…
DP World Starts Construction of New $1.2B Port in Senegal
The arrival of the dredger Willem Van Rubroeck in Ndayane has marked the start of maritime works for the $1.2 billion Port of Ndayane, a project led by Dubai-owned ports and logistics firm DP World, which aims to transform Senegal into a major center for global trade.The vessel will dredge a 5 km-long shipping channel - an essential step in building this high-capacity port designed to elevate Senegal’s…
MSC 109 Advances Autonomous Ship Code
The Maritime Safety Committee met for its 109th session at IMO Headquarters in London from December 2 to 6, 2024. The outcomes include:Amendments to mandatory IGC and IGF Codes adoptedThe Committee adopted amendments to Chapter 16 of the IGC Code, related to the use as fuel of cargoes identified as toxic products, in the context of alternative fuels and new technologies. The amendments are expected to enter into force on July 1, 2026.
On the Bookshelf: Managing Risks of Stowaways on Vessels
Stowaways are an ongoing issue for the security of ships and the safety of crew members, as well as incurring substantial associated costs for shipowners and insurers. Worldwide, information about stowaways is incomplete and incidents are under-recorded, but the financial cost per incident is known to be rising, costing the industry millions of US dollars every year. In recent years, increasing global…
NW Europe Fuel oil Imports at 3-year High
A rush to replenish scarce supply of high-sulphur fuel oil (HSFO) pushed Northwest European imports of residual fuel oil to their highest in three years in November, analysts told Reuters.The Amsterdam-Rotterdam-Antwerp (ARA) area, Europe's main trading and refining hub, received around 450,000 barrels per day (bpd) of all types of fuel oil in November, the highest monthly volume since November 2021.That compared with an average of 332…
Shell Settles Lawsuit with Greenpeace Over Vessel Boarding Incident
British oil and gas major Shell on Tuesday settled a London lawsuit it brought against environmental group Greenpeace after activists boarded a Shell oil production vessel last year.Greenpeace said it had agreed to pay 300,000 pounds ($382,650) to the Royal National Lifeboat Institute (RNLI), a charity that runs a search and rescue service.The group also said it would stop protesting for a period at four Shell sites in the northern North Sea, which Greenpeace referred to as "mostly declining fie
Schmidt Sciences Fosters AI Research
Schmidt Sciences has named 25 scholars working at the forefront of AI as AI2050 fellows and will award them up to $12 million to advance research that realizes the potential of AI to benefit humanity.The AI2050 program asks researchers to imagine the year 2050 where AI has been hugely beneficial and to pursue projects that help society realize this.The program will fund senior researchers and early career scholars for two years.Previous senior fellows in the first two cohorts include Prof.
Kongsberg Digital Banks 'Major' Simulator Contract in South Africa
Kongsberg Digital announced a significant agreement with Transnet SOC Ltd (Transnet) to deliver state-of-the-art simulator technology to the Transnet Academy in Durban, South Africa.Transnet plays a role in the South African economy by providing infrastructure and fostering economic growth through port operations. Scheduled for delivery in June 2025, the suite of Kongsberg simulators will support Transnet’s mission to enhance trade facilitation…
Pirates Take Control of Chinese Fishing Vessel Off Somalia
A Chinese fishing vessel is under the control of alleged pirates in Somalia's waters in the semi-autonomous Puntland region, the European Union's anti-piracy naval force said on Thursday.The anti-piracy force said the vessel with up to 18 crew members on board had been taken over by pirates, some armed with AK-47s and machine guns. It classified the incident as a robbery at sea.No crew members were injured in the incident…
Hapag-Lloyd Expects Lower 4Q Profitability
Hapag-Lloyd expects lower profitability in the fourth quarter but still at a "good level", after freight rates peaked in the third quarter, Rolf Habben Jansen, the CEO of the German shipping company, said at a press conference on Monday.Habben Jansen also expects disruptions in the Red Sea linked to Houthi militants to continue well into 2025, meaning that rerouting around Africa would continue.Hapag's…
Hundreds of Ukraine Port Facilities Now Damaged
Russian drone and missile attacks have damaged 321 Ukrainian port infrastructure facilities since July last year, President Volodymyr Zelenskiy said on Saturday.Twenty merchant ships belonging to other countries were also damaged by Russian strikes, he added."Overall, Ukrainian food exports provide food for 400 million people in 100 countries around the world," Zelenskiy said. "Food prices in Egypt…
SCA, Maersk ink Management Training Center pact
The Suez Canal Authority (SCA) and Maersk Training (MT) have entered into a landmark agreement to establish a Centre of Excellence focused on leadership and crisis management training for SCA employees. The agreement was signed at a ceremony attended by senior representatives from both organizations.The contract was formalized by Yasser El Sheshengy, Director of the Communication & Information Systems Department at the Suez Canal Authority…
Nigeria and India Forge Deeper Maritime Security Ties
Nigeria and India on Sunday agreed to deepen collaboration in maritime security, intelligence and counter-terrorism during a state visit to the West African country by Indian Prime Minister Narendra Modi.Modi is the first Indian premier to visit Nigeria in 17 years after an invitation by President Bola Tinubu, who is seeking investments from some of the world's biggest economies.Modi arrived in the capital Abuja on Saturday night and met Tinubu at the presidential villa on Sunday where the two l
Hapag-Lloyd Expects Shipping Volume Uptick to Continue
Hapag-Lloyd's CEO said on Thursday he expects continued strength in container shipping volumes, which are driven by global demand for transporting goods and seen as a proxy for trade and a health barometer for the world economy.The volume of twenty-foot equivalent (TEU) containers moved by its 292 ships rose to 9.3 million metric tons in the nine months from January to September, up 5% from 8.9 million in the same period a year ago…
Van Oord Completes Dredging Project in Egypt
Van Oord has finished dredging two new port basins in Ain Sokhna Port, successfully completing a project that forms part of a port expansion program meant to improve and develop the Suez Canal Economic Zone and harness the potential of the Suez Canal as a global hub for maritime transport.The General Authority for the Suez Canal Economic Zone and the Ministry of Transport of the Republic of Egypt awarded…
CMB Tech Eyes India, Ship Disposals as Q3 Results Shine
Belgian oil tanker company CMB Tech says it will focus on the fast growing market in India as it reported third quarter results above market expectations on Thursday, boosted by vessel disposals as it diversifies its fleet.After last year's Euronav-Compagnie Maritime Belge takeover, the group shifted strategy by selling 24 tankers to Frontline and acquiring CMB.Tech's fleet. It now operates a diversified fleet of around 160 vessels…
10,000 Cadets Attend Sailors’ Society Virtual Conferences
Record-breaking numbers of cadets and ratings from across the globe have attended the 2024 Sailors’ Society’s cadet conferences.The four virtual interactive events held for North and South East Asia, Africa, and this month for the UK and Europe, explored wellness and mental health with a focus on key and current issues facing today’s cadets and seafarers.Now in their fourth year, the conferences which form part of the global maritime charity’s ongoing work with maritime cadets…
India, Ship Disposals boost CMB.Tech Q3
Belgian oil tanker company CMB.Tech says it will focus on the fast growing market in India as it reported third quarter results above market expectations on Thursday…
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
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
