Global Freight Shows Signs of Bottoming Out
Global freight volumes fell at some of the fastest rates for three decades earlier this year, but at the end of the first quarter showed signs of bottoming out.Volumes were down by -2.1% between December and February compared with the same period a year earlier, according to the Netherlands Bureau of Economic Policy Analysis (“World trade monitor”, CPB, April 25).The rate of decline was in the 8th percentile for all overlapping three-month periods since 1992…
“Friendshoring” Impacts Container Shipping Trade Patterns
As geopolitical upheaval continues, Peter Sand, Chief Analyst, Xeneta, explores how global trade patterns have (and will) evolve.Geopolitical unrest could have dramatic and long-term impacts on global trade patterns for all goods and commodities, as political alliances are essentially being ripped up and rewritten. Spurred by Russia’s invasion of Ukraine in 2022, changing trade patterns are emerging in the container shipping sector…
Larry Rigdon Retires from Tidewater Board
U.S.-based Tidewater, one of the world's largest owners of offshore support vessels, announced Thursday that Larry T. Rigdon has chosen not to stand for reelection as non-executive chairman and will retire from the board at the company's annual stockholders meeting on June 26, 2023.Rigdon has served as a member of the company's board of directors since July 2017, and as non-executive chairman of the board since October 2019.Dick H.
ClassNK offers "Guidelines for Shipboard CO2 Capture and Storage Systems"
ClassNK released "Guidelines for Shipboard CO2 Capture and Storage Systems". The guidelines include provisions for indicating the classnotation for vessels equipped with CO2 capture and storage systems or designed as "ready" for their installation.In addition to fuel transition, interest in capturing CO2 from ships' exhaust gas is growing as a way to reduce GHG emissions, and the development of onboard systems for capturing and storing CO2 is being undertaken.
Senators Urge Biden to Enable Agency to Seize Tankers of Iran Oil
As Iran's oil exports rise despite U.S. sanctions over its nuclear program, senators from both parties urged President Joe Biden to enable a federal government agency to seize Iranian oil and gas shipments.Senators Joni Ernst, a Republican, and Richard Blumenthal, a Democrat, said in a letter to Biden that the Department of Homeland Security's Homeland Security Investigations (HSI) office has not been…
$56m Allocated to Refurbish Three British Research Ships
The National Oceanography Center (NOC) is celebrating the 100th anniversary of the scientific research ship RRS Discovery’s predecessor being designated as a Royal Research Ship (RRS), while the modern RRS Discovery becomes the first Research Vessel to be refitted at Babcock’s Rosyth facility, 35 miles away from the birthplace of the original vessel in Dundee.To mark this 100th anniversary, the current RRS Discovery will also join its ancestral inspiration…
Protecting Offshore Energy Sources via USV
When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some favor the former while others advocate for the latter. However, what is often lost in the arguments on both sides is that regardless of the type of energy being extracted or generated, those platforms that are offshore, especially oil rigs, oil and gas pipelines, and wind farms…
Ship Insurers Warn of Russian Oil Price Cap Evasion, Risks of 'Dark Fleet'
A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track the value of cargoes, executives said.To curb Moscow's oil revenues following the Ukraine war, the Group of Seven Nations, the European Union and Australia imposed price caps on Russian crude and oil products from December and February…
Missing Red Sea Yacht Turns Up in Djibouti Safely After Attack
A private yacht with three Russians and two Egyptians on board which had been reported missing in the Red Sea off Yemen turned up in Djibouti on Thursday after what the owner said was an attack by unknown gunmen.The 30 Minutes sent its last signal on Tuesday night off the coast of Jizan, a port in southern Saudi Arabia near the Yemeni border before appearing to go missing, owner Dmitriy Chuguevskiy had told Reuters,"According to the people on board ...
Glosten Readies PelaStar for the US Wind Energy Market
Glosten is growing its PelaStar partner network to prepare for Phase 2 of the U.S. Department of Energy’s Floating Offshore Wind ReadINess (FLOWIN) Prize. The expanded team will focus on identifying facilities and the requisite investment to enable U.S.-based platform fabrication and marine logistics capabilities; creating workforce development plans focused on local manufacturing in underserved communities; advancing engineering readiness for ultra-deepwater sites in the U.S.
Spanish Navy Ship Sent to Draw Up Maps Loses Its Way
A Spanish Navy ship tasked with updating nautical charts to make navigation safer got stranded on Thursday near the island of Ibiza in the Mediterranean, the Navy…
Iran Seizes Oil Tanker in Gulf of Oman, U.S. Navy Says
The U.S. Navy said Thursday that Iran had seized a Marshall Islands-flagged oil tanker Advantage Sweet while transiting international waters in the Gulf of Oman. According to a tweet by U.S. 5th Fleet, the incident happened on April 27 at approximately 1:15 p.m. local time, when the tanker was seized by Iran's Islamic Revolutionary Guard Corps Navy (IRGCN). "The oil tanker issued a distress call during the seizure. U.S. 5th Fleet is monitoring the situation.
Edda Wind Orders MacGregor Gangway for Offshore Wind Vessel
Deck machinery specialist MacGregor has received an order from offshore wind vessel owner Edda Wind to equip one of its vessels with a walk-to-work system.The SOV vessel, to be delivered in the third quarter of 2024, will be equipped with MacGregor’s all-electric walk-to-work gangway Horizon.MacGregor said the order, of an undisclosed value, was the eighth in the series of walk-to-work systems to be…
Singapore's First Ammonia Ship-to-ship Transfer Targeted By 2023-end
Singapore's first ship-to-ship transfer for ammonia could take place by end-2023, the Global Centre for Maritime Decarbonisation (GCMD) said on Thursday, as the city-state prepared to introduce new fuels for ships.Ammonia is one of several fuels that the shipping industry is exploring to reduce carbon emissions and meet targets set by the International Maritime Organisation."We are aiming for the first transfer of ammonia to take place by end 2023…
Ladder Accident Attributed to Weak Safety Culture
The New Zealand Transport Accident Investigation Commission (TAIC) has released its report on the injury of a crew member during ladder operations on the container ship Moana Chief, citing weak safety culture on the part of the vessel’s operator.The incident occurred in the Port of Auckland on December 10, 2021 when the container ship Moana Chief was preparing to leave port. The crew had started to retrieve its telescopic accommodation ladder for stowing.