Maritime Industry Top News
MSC Buys $765 Million Stake in Wilson Sons
Investment holding company Ocean Wilsons has agreed to sell its 56.47% stake in Brazilian unit Wilson Sons to shipping services provider SAS for 4.35 billion reais ($764.9 million), it said on Monday.London-listed Ocean Wilsons, which is the controlling shareholder of shipping firm Wilson Sons, said in a statement it was a "compelling time" for the sale, after it announced last year it was reviewing its investment in the Brazilian company.The move by SAS, a unit of shipping giant MSC, follows Fr
Large Cocaine Shipment Found in Australia's Port Botany
Australian authorities are seeking the public's help in tracking down the source of more than 30 kilograms of cocaine discovered in a refrigerated shipping container at Port Botany.On Thursday, October 17, 2024, Australian Border Force (ABF) officers conducted an inspection of the container, which had arrived from Italy, after detecting anomalies during an x-ray examination. A forensic investigation…
Maersk Raises Profit Outlook
Danish shipping group A.P. Moller-Maersk said on Monday it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing disruption to shipping in the Red Sea.Maersk said it had revised its outlook for global container market volume growth in 2024 to around 6% from a range of between 4% to 6% seen previously.Maersk reported preliminary underlying earnings before interest…
Tug Crew Rescued After Losing Steering in Rough Seas Off Washington Coast
Five people were rescued from a tug that lost steering in heavy seas off the coast of La Push, Wash., Friday afternoon.At 4:10 p.m., the 130-foot commercial tug Luther lost steering and was beset by weather while towing a concrete barge 10 miles off the coast of La Push and requested assistance from the U.S. Coast Guard. On scene weather conditions were 10- to 14-foot seas and winds of 45-knots.A 47-foot Motor Lifeboat (MLB) crew from Coast Guard Station Quillayute River…
Fire Breaks Out on Malta-Flagged Tanker Offshore Singapore
The Maritime and Port Authority of Singapore (MPA) has reported a fire on a Malta-flagged tanker Med Atlantic in the East Johor Straits.The vessel is currently anchored and there is no disruption to vessel traffic in the area, MPA said, adding that all 22 crew had disembarked the vessel and were safe with no injuries.According to the alert MPA received, the fire started an engine room onboard the vessel.
Did You Know? Email Remains First 'Go-To' for Cyber Attack
During the first half of the year, Marlink’s Security Operations Center actively monitored more than 1800 vessels across the maritime industry, including cargo ships, cruise liners, research vessels, superyachts, tankers, and offshore support vessels.The monitoring process involved continuous surveillance and analysis of various cyber activities across these assets to ensure the security and integrity of critical maritime operations.In its latest "SOC Report"…
Study Highlights Need to Reconsider Fixed Sea-Margin for Gate Rudder Concept
A study published by Norbert Bulten, Product Performance Manager at Wärtsilä, has demonstrated that “there is more in life than the straight-sailing, calm water condition.”The research was carried out within the EU-funded CHEK project and involved full-scale CFD simulations that focused on the impact of rudder steering and vessel motion.The study compared a gate rudder concept to a conventional semi-spade rudder for a Kamsarmax bulker.Typically…
Ship Recyclers Endure Another Lackluster Week
Weak pricing, damp demand, and dithered sentiments characterized another lackluster week in the ship recycling industry on the Indian sub-continent, reports cash buyer GMS.Sales ground to a virtual halt this week with activity registering at some of the lowest levels witnessed for nearly a decade.As levels declined by over USD 100/LDT since the peaks of 2024, a majority of the marginal sales are reliably…
ABS Conducts Ammonia Dispersion Safety Evaluation
ABS has completed a safety evaluation of ammonia dispersion on board an ammonia-fueled gas turbine LNG carrier design from Hanwha Ocean.ABS, in collaboration with Hanwha Ocean, conducted computational fluid dynamics simulations that modeled different ammonia release scenarios due to accidental leakages from the engine room, the pipeline and the bunkering stations on deck.The analysis confirmed that…
Hanwha Ocean Joins GCMD on Ammonia and Carbon Capture
The Global Centre for Maritime Decarbonisation (GCMD) and Hanwha Ocean have announced a five-year strategic partnership to advance low and zero carbon fuels, energy efficiency technologies and onboard carbon capture.The GCMD was established as a non-profit organization in 2021 founded by BHP, BW Group, Eastern Pacific Shipping, Foundation Det Norske Veritas, Ocean Network Express and Seatrium. GCMD also receives funding from the Maritime and Port Authority of Singapore (MPA)…
Nakilat Boosts Profit in Third Quarter
Qatar Gas Transport Company Q.P.S.C. (Nakilat) has achieve a net profit of QAR 1.28 billion ($352 million) in the third quarter of 2024, ended September 30.This represents an increase of 7.2% compared to the same period in 2023.Nakilat says it continues to strengthen its position as one of the world’s largest LNG fleet owners through strategic partnerships, fleet modernization and operational excellence.The…
Shell's Singapore Pipeline Leak Contained
Major energy company Shell and Singapore's Maritime and Port Authority deployed clean-up measures after a leak from a land-based pipeline, they said on Sunday.The MPA said in a statement it was alerted at around 1 p.m.
Panama Prepares to Take Action on Sanctioned Vessels
The Panama Maritime Authority (PMA) has introduced a legal mechanism enabling the immediate revocation of registration and navigation licenses for vessels in the national merchant fleet that appear on international sanctions lists. Additionally, any other navigation documents issued by the PMA will also be invalidated.On October 18, 2024, Executive Decree No. 512 was published in the Official Gazette…
Hapag-Lloyd, Maersk Cooperation Targets 90% Service Reliability
The two people leading Hapag-Lloyd and Maersk into the new Gemini Cooperation spoke at the Xeneta Summit in Amsterdam last week expressing confidence in the new alliance achieving its ambition of 90% service reliability.The Gemini Cooperation will begin operating on February 1 next year, with a new hub and spoke approach of mainliner and transshipment services designed to increase reliability.Rolf Habben Jansen…
At Least Seven Dead in US Dock Collapse
At least seven people were killed after part of a boat dock collapsed, sending at least 20 into the Atlantic waters off the coast of the U.S. state of Georgia.U.S. Coast Guard ships were searching on Saturday night for missing people.The accident, which also caused multiple injuries, happened during a celebration of Sapelo Island's tiny Gullah-Geechee community of Black slave descendants, authorities…
Ukraine Attacks Force Black Sea Fleet Relocation
Russia's Black Sea Fleet has been forced to move many warships from the naval base of Sevastopol on the Crimean peninsular, which Russia annexed in 2014, due to attacks by Ukraine, a Russian-installed official was quoted as saying on Sunday.The remarks by Dmitry Rogozin, a Russian-installed senator for the Russian-controlled Zaporizhzhia region and a former head of Russia's space agency, are the first…
RSC Bio Solutions Launches FUTERRA Compressor Oils
RSC Bio Solutions launched FUTERRA Compressor Oils, synthetic lubricants designed to meet the performance demands of industrial and marine sectors while addressing sustainability needs.FUTERRA Compressor Oil is formulated with a synthetic, sustainable base oil, offering outstanding thermal stability, long service intervals, and inherent biodegradability. This product is tailored to rotary screw, reciprocating…
Conrad Shipyard Delivers First YRBM Vessel to the US Navy
Conrad Shipyard announced it has delivered the first Yard, Repair, Berthing, Messing (YRBM) vessel to the U.S. Navy. The delivery took place at Conrad’s shipyard in Amelia, La., where the final inspection by key Navy officials took place.This YRBM vessel, the first in its class, was designed and constructed by Conrad Shipyard, featuring a new and innovative design tailored to meet the U.S. Navy’s operational needs.
BHGI Leaders Presented With Rosenblatt-Michigan Award
Bristol Harbor Group, Inc. (BHGI) president, Gregory Beers, and vice president, Cory Wood, have been honored with the esteemed 2024 Rosenblatt-Michigan Award on October 13, 2024, at the SNAME Maritime Convention (SMC) in Norfolk, Va.The Rosenblatt-Michigan Award is an annual accolade presented by the University of Michigan College of Engineering and the Department of Naval Architecture and Marine Engineering that recognizes alumni who demonstrate outstanding excellence…
Greek Dockworkers Halt Ammunition Cargo Bound for Israel
Dozens of members of a Greek dockworkers' union have blocked the loading of a container of ammunition destined for Israel in protest against the Gaza war, coast guard and union officials told Reuters on Friday.The container, which arrived at Greece's Pireaus port on Thursday, held 21 tons of ammunition, one of the unionists told Reuters on condition of anonymity. The cargo was trucked from North Macedonia…
